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6/1/2023 11:32:21 AM

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Section 4: President & Congress
Subject: Debt Ceiling Msg# 1187486

From:

Dave Paquet

Joined 6/8/2004

To:

Jim Matthews (Read)

Joined 6/10/2008

Jim,

Glad you agree that we are spending more than we have.

You mention Bill Clinton's surplus but leave out Gingrich's Contract for America and Reagan's tax cuts that helped get us to that surplus.

You also left out Covid 19 and other Obama/Biden policies (immigration, military, etc.), that precipitated Trump needing to increase ceiling along with the fact that his tax cuts are now bringing in more revenue making Biden's economy look much better than his policies. Interesting how one administration policies can help or hinder one or more administrations after it - Carter's, as an example.

The above response to you are only my opinions and no one needs to dispute or agree with them. We could continue to argue all day long as I think you enjoying doing, but for the limited time I have remaining - on the back nine, approaching the 17th or 18 hole - I plan to do more constructive things.

Each of us have our own political opinions as you continue to express to this forum which is a good thing for those who wish to debate. I guess your brilliant comment set me off.

Whoever gets elected, I do hope they bring in policies that works best for our country, our children, and, the world we all live in.

Anyway, stay well!

Dave

For reference, the above message is a reply to a message where:
House: 314-117 Bipartisan and, there wiil be Democrats in the Senate who will vote against this, too (because they want more.)

Dave,

I agree with you in principal. As a (wealthy) country, we should not be spending more than we have.

We Have the following options to fund government programs:

Tax and spend

Borrow and spend, or

Generate a responsible budget that is within our revenue.

Increasing our deficit to reduce taxes on the wealthy and corporations does nothing for the general population. The wealthy use the cuts to invest in stocks, real estate, etc. They do not spend those cuts in any way that stimulates the economy. Trickle down trickles nowhere.

I am not a fan of deficit spending. I think that we should run our country like any responsible corporation or family. You look at your income and set priorities for spending. If you need to borrow to purchase a home, you need to determine how much you can afford to borrow taking into consideration other needs for food, transportation, utiliies, etc. Our country should be run in this way.

The corporations do not use the tax cuts to grow their businesses or stimulate employment. They mostly buy back shares to increase the price per share to the further enrich of their officers, board, and wealthy shareholders.

Very little, if any, of that money goes back into the general economy.

If you reduce taxes for the bottom 10%, that money will be spent for housing, food, utilities, etc. Most, if not all, of those cuts will be immdiately filtered back into the economy. Trickle Up.

Just remember that the current debt ceiling crisis is due to money that has already been spent. If you do not want a debt ceiling crisis, the don't spend more than you have budgeted for. Every congress should make this their TOP priority and the beginning of each physcal year: produce a budget that you can afford to pay for, based upon proposed revinue, taxes, and (hopefully small) debt. Then STICK TO IT.

And also remember that Bill Clinton handed George W Bush a 1 trillion dollar surplus. We have not had a surplus since then.

The debt ceiling and the deficit, were increased (by a substantial margin) under Donald J Trump three times. He significantly cut taxes for his wealthy supporters and corporations using borrowed money.

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