Republicans raise the debt ceiling by 4 trillion while kicking millions off insurance

Yes, he was a fool to get involved, but even worse, Musk was a fool to attempt to take a wrecking ball to the government of the United States. The outcome has been a nightmare for tens of thousands of Americans and their families, employees of our government who were suddenly blindsided when told they no longer had a job. That it has become a nightmare for Musk and Tesla, as well as Tesla shareholders, hasn't surprised me at all.

 

A true patriot., leaving it better for the next generation. Either you believe that we can overcome 50 years of terrible practices of the globalist and dont believe there wont be pain involved is crazy. With that said, we've all got a little crazy in us.

 

Oh, I guess I'm in the minority of guys who believe when you takeout a loan you payoff the loan, including the things you listed.

 

If we can’t afford the government largesse we have, where is your outrage on the bill increasing defense spending to $1T annually?

Medicaid, defense, and too many tax cuts for the 1% is what is bankrupting America.

We need single payer healthcare and stop enriching the health insurance industry, major cuts to defense, and major increases in taxation for the 1%. That’s the only path to get out of our debt.

 

What makes you believe increasing taxes on the 1% can eliminate or substantially reduce the deficit?

We had a $1.8 trillion dollar deficit last year.

Where is the math on that or is that just a fantasy you people have?

 

Tax Foundation estimate.

This isn't just the top 1%, but the overall tax cut (of the BBB), which overwhelmingly benefits the top earners and would reduce revenue by ~$4 trillion (or increase the debt by that amount) over the next decade.

~23% of that $4 trillion is going to those making $788k or more annually.
~70% of that $4 trillion is going to those making $217k or more annually.

You can't eliminate the debt through tax increases alone; there also need to be spending cuts. But the tax cuts that overwhelmingly benefit the top are increasing the debt substantially, so not enacting them would maintain the status quo, and increasing taxes on the top earners would reduce the debt substantially if you increase rates drastically (to 80% for example, which was the top marginal rate in the 1950s and early 1960s). Raw number estimates suggest doing that would bring in $6 trillion over a decade.

p.s. not advocating a return to the 80% tax rate for the top, just pointing out the math
p.s. we don't need to eliminate the debt, but should bring it down to a reasonable level

https://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/

 

you're just merely parroting the convenient lie / false narrative that singles out the student loan default, while omiitting
the BIGGEST loan defaults involving loans provided/funded by the US Government

Since 1900, Here are top / biggest loan defaults in US history

• The Great Depression
• The Savings and Loan crisis
• The conservatorship of Fannie Mae and Freddie Mac
• The collapse of Bear Stearns
• The rescue of American International Group (AIG)
• The COVID-19 pandemic

in terms of size of default, student loan default/forgiveness doesn't even rank in the top 10​

 

You know the difference between our debt and our deficit right?

Our debt is $37 trillion.

The deficit was $1.8 trillion in 2024.

Eliminate the debt? An extra $400 billion a year (which is what $4 trillion over a decade is) doesn't even take our deficit below a $1 trillion dollars.

 

Apparently you don't understand that I don't care about any of this. I just think that once you take out a loan that you pay off the loan. Call me old fashioned.

 

You aren't old-fashioned just ill-informed.

 

So not paying off a loan that they took out makes me ill informed?

 

So Democracy or Dictatorship/Authoritarian regime? The scary thing to me is Trump's embracement of Dictators and Authoritarians, his appointments of loyalists, his willingness to take illegal actions, and his new hatred of Western world Democratic led countries.

 

How do you feel about Medicare fraud?

 

willful ignorance is bliss.

 

Medicare fraud is bad.
Insurance fraud is bad
Bloated government contracts are bad.
Predatory loans are bad.

The question is?????
What is the way to eliminate all of this.

Here is what I did:
I was on a full scholarship for track at SFA right after high school. Started partying and failed out. Came back home for my parents to tell me I had 6 months to figure out my situation, and staying with them after the 6 months was not an option. So, I marched my arse down to the Air Force recruiter.
Thinking at a minimum I would learn a valuable trade. While on active duty I was able to complete my Associates from the Community College of the Air Force. Once I was released from active duty, I was fortunate enough to become a civil servant at Ellington AFB. Now joint base Ellington.
After work I attended classes at the Hilton School of Hotel and Restaurant Management on the U of H campus.

Thanks to my hitch I was able to avoid massive student loans.
Which leads me to my solution of predatory student loans. Do 4 years in a branch of the armed services, and as a reward for serving your country you get free college tuition.
This may not work for all but, I would work for a lot. Many other countries mandate a period of military enlistment

 

Agree. I didn't take out student loans, and also used the GI Bill to pursue my Master's degree after service. I agree students should pay back loans. A lot of the money they get is used for partying, entertainment, and non-essential needs.

The problem and hypocrisy with it all though is when Trump is more than willing to spew about fraud in cutting healthcare, but pardons the biggest Medicare fraudsters without a blink of an eye, commits fraud himself, tries to avoid paying taxes with fraud, and screwed people over left and right throughout his life. He himself has defaulted on loans and declared numerous bankruptcies.

He supports white collar criminals and raises hell about individuals costing taxpayers or screwing others for far less money. If one man defrauds the government or others for over 100 million, and another guy commits $50,000 in damage and steals goods worth $2,000, who do you think Trump will pardon? My guess is the first guy. It's really a double set of standards in Trump's world when it comes to law and order.

 

Paying off a debt you willingly signed up for is ignorant?