General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsI am confused, how much debt is too much debt?
All of the 9-11 related cost and corporate bailouts, the cost of 2 twenty year wars, the bank bailouts of 2008 and 2009
The $trillion tax cuts and now whatever they are cooking up now. Throwing out a number of what, $40 trillion?
So Freemarket capitalism has been bull stuff all along....
And the media promoted all of that Tea Party BS because we had a President that wanted to spread a little of that debt to the people paying for it.
Recursion
(56,582 posts)Those didn't "cost" anything and don't really belong in that list.
Under The Radar
(3,404 posts)But Bush gave it away and the fuckers didnt help those in mortgage debt on either aid package.
Recursion
(56,582 posts)And it made the government enough money to pay for the auto bailout.
Under The Radar
(3,404 posts)Recursion
(56,582 posts)and it made money for the government.
Under The Radar
(3,404 posts)Recursion
(56,582 posts)Under The Radar
(3,404 posts)Who was President in Feb 10th 2009?
On February 5, 2009, the Senate approved changes to the TARP that prohibited firms receiving TARP funds from paying bonuses to their 25 highest-paid employees. The measure was proposed by Christopher Dodd of Connecticut as an amendment to the $900 billion economic stimulus act then waiting to be passed.[24] On February 10, the newly confirmed Secretary of the Treasury Timothy Geithner outlined his plan to use the remaining $300 billion or so in TARP funds. He intended to direct $50 billion towards foreclosure mitigation and use the rest to help fund private investors to buy toxic assets from banks.
Turin_C3PO
(14,033 posts)Thats why I dont really understand the financial argument about single payer healthcare. Who cares if its expensive? We already have tons of debt. Maybe someone can explain it to me.
Under The Radar
(3,404 posts)And if I were joe Biden, I would shout it out loud
MiniMe
(21,718 posts)jimfields33
(15,933 posts)Then were screwed royally. Not sure when that is. I guess when the interest equals annual GDP. Maybe.
unblock
(52,307 posts)and we're basically at that point now, before the bailouts we're now talking about. never mind that our gdp will be contracting for a while as everything is shutting down, making the debt-to-gdp ratio even worse.
now, spending that genuinely grows the economy can be a good thing even if there's plenty of debt already. this is why many democratic proposals are worth it even if debt-financed, because they usually boost the economy.
healthcare is an oddball, because so much of it is merely a transfer of spending from the private sector to the government. if employees and businesses don't have to spend several thousands on healthcare each year, they shouldn't mind paying a roughly similar amount in taxes and have the government deal with it. so even if it has a huge nominal price tag, it doesn't really "cost" that much in many ways.
of course, the private sector overhead employees and businesses will object hugely....
Under The Radar
(3,404 posts)....That were used for stock but backs has basically evaporated other than the overpriced paper that they are left holding?
unblock
(52,307 posts)very small boost in gdp in exchange for massive increase in debt. at a time when stimulus wasn't needed, given to businesses that didn't need it.
typical republican plan.
RT Atlanta
(2,517 posts)**except when a Democratic leader is in office
uponit7771
(90,359 posts)Under The Radar
(3,404 posts)That is before any congressional approval of any coronavirus aid.
https://www.usdebtclock.org/index.html