*** Official GOP suddenly cares about the debt/deficits again thread ***

[ElNono]

U.S. should temporarily guarantee all bank deposits, senior House Republican says

The government should temporarily insure every bank deposit in the country to shore up confidence in the U.S. financial system, a senior GOP lawmaker said Tuesday.

Rep. Blaine Luetkemeyer of Missouri — a top member of the House Financial Services Committee and a former banker — said in an interview that such a move would help the smallest banks as they deal with the fallout of the collapse of regional lenders Silicon Valley Bank and Signature Bank. The Biden administration and regulators have already guaranteed all the deposits at the two banks — above the deposit insurance limit of $250,000 — to mitigate economic damage.

Luetkemeyer said expanding the safety net would “give the system confidence.”

“If you don’t do this, there’s going to be a run on your smaller banks,” he said. “Everyone’s going to take their money out and run to the JPMorgan’s and these too-big-to-fail banks, and they’re going to get bigger and everybody else is going to get smaller and weaker, and it’s going really be bad for our system.”

https://www.politico.com/news/2023/0...lican-00086974

[SnakeBoy]

U.S. should temporarily guarantee all bank deposits, senior House Republican says

The government should temporarily insure every bank deposit in the country to shore up confidence in the U.S. financial system, a senior GOP lawmaker said Tuesday.

Rep. Blaine Luetkemeyer of Missouri — a top member of the House Financial Services Committee and a former banker — said in an interview that such a move would help the smallest banks as they deal with the fallout of the collapse of regional lenders Silicon Valley Bank and Signature Bank. The Biden administration and regulators have already guaranteed all the deposits at the two banks — above the deposit insurance limit of $250,000 — to mitigate economic damage.

Luetkemeyer said expanding the safety net would “give the system confidence.”

“If you don’t do this, there’s going to be a run on your smaller banks,” he said. “Everyone’s going to take their money out and run to the JPMorgan’s and these too-big-to-fail banks, and they’re going to get bigger and everybody else is going to get smaller and weaker, and it’s going really be bad for our system.”

https://www.politico.com/news/2023/0...lican-00086974

Protect the rich so they can trickle on the poor is part of the GOP platform ...and now Ole Joe's platform as well.

[ChumpDumper]

Protect the rich so they can trickle on the poor is part of the GOP platform ...and now Ole Joe's platform as well.

You can stop crying about student loans now.


But you won't.

[ElNono]

Protect the rich so they can trickle on the poor is part of the GOP platform ...and now Ole Joe's platform as well.

I thought you cared about the deficit

[pgardn]

I thought you cared about the deficit

Hes a Trumper.
Does not know wtf he believes in.

[Winehole23]

[CosmicCowboy]

With spineless Blowhard politicians on both sides you younger guys are well and truly ed and don't even realize it yet.

Sadly, it would be impossible for anyone who tells the truth about spending and deficits to be elected.

[Winehole23]

With spineless Blowhard politicians on both sides you younger guys are well and truly ed and don't even realize it yet.

Sadly, it would be impossible for anyone who tells the truth about spending and deficits to be elected.

And what is that truth?

[CosmicCowboy]

And what is that truth?

I think we have already passed the point of no return. No amount of tax increases or "bipartisan" token budget cuts are going to stop the eventual economic train wreck. There are trillions of unfunded state and local unfunded pension obligations that the federal government will eventually cover. Unfunded social security obligations are the third rail of politics that no one is brave enough to touch. We now have no choice but to run trillions of annual deficits as far as the eye can see. It will reach a point where the only options to sell government debt will be either to offer astronomical interest or let the fed monetize it, eventually crashing the dollar. I honestly don't think there is a feasible solution at this point.

[Winehole23]

I think we have already passed the point of no return. No amount of tax increases or "bipartisan" token budget cuts are going to stop the eventual economic train wreck. There are trillions of unfunded state and local unfunded pension obligations that the federal government will eventually cover. Unfunded social security obligations are the third rail of politics that no one is brave enough to touch. We now have no choice but to run trillions of annual deficits as far as the eye can see. It will reach a point where the only options to sell government debt will be either to offer astronomical interest or let the fed monetize it, eventually crashing the dollar. I honestly don't think there is a feasible solution at this point.

that's not a message likely to win an election, true

[CosmicCowboy]

We could probably postpone the inevitable by raising taxes massively from top to bottom, raising the social security age to 70, and telling the states and local governments that have underfunded their pension plans for years to suck it up and figure how to either fund them or default on their defined pension obligations. That would still just postpone the inevitable because the combination would crush GDP and make it impossible to "grow" out of it.

[CosmicCowboy]

We could probably postpone the inevitable by raising taxes massively from top to bottom, raising the social security age to 70, and telling the states and local governments that have underfunded their pension plans for years to suck it up and figure how to either fund them or default on their defined pension obligations. That would still just postpone the inevitable because the combination would crush GDP and make it impossible to "grow" out of it.

That's not a message that could win elections either.

[CosmicCowboy]

You could triple corporate taxes and they would just pass the cost through to the consumer as a legitimate cost of doing business and it would just throw gas on the inflation spiral.

[Spurs Homer]

That's not a message that could win elections either.

Your cult daddy isn't interested in WINNING elections - never was -


he - and you - are interested in stealing elections like he did in 2016 and his failed coup attempt in 2020-

[CosmicCowboy]

You could triple corporate taxes and they would just pass the cost through to the consumer as a legitimate cost of doing business and it would just throw gas on the inflation spiral.

That could probably win elections from most in here, though.

[CosmicCowboy]

Your cult daddy isn't interested in WINNING elections - never was -


he - and you - are interested in stealing elections like he did in 2016 and his failed coup attempt in 2020-

off, loser. You are totally incapable of having a rational conversation. All you can do is spew insults and you don't contribute to this forum.

[Spurs Homer]

off, loser. You are totally incapable of having a rational conversation. All you can do is spew insults and you don't contribute to this forum.

tell me which part did i not nail you ing moron

it was exact and accurate and you didnt even deny any of it because you cant

[Winehole23]

We could probably postpone the inevitable by raising taxes massively from top to bottom, raising the social security age to 70, and telling the states and local governments that have underfunded their pension plans for years to suck it up and figure how to either fund them or default on their defined pension obligations. That would still just postpone the inevitable because the combination would crush GDP and make it impossible to "grow" out of it.

If as you suggest, we're ed no matter who we vote for, does it matter at all who we vote for?

If nothing can be done to change our fate -- ed and un able, etc -- why not be a Bolshevik, a fascist, a monarchist or a terrorist? Or try to amass as much personal power and wealth as one can. however one can?

[CosmicCowboy]

tell me which part did i not nail you ing moron

it was exact and accurate and you didnt even deny any of it because you cant

You are a stupid little troll loser. I have never been a Trump supporter from day one. Trump is almost as toxic as you are.

[CosmicCowboy]

If as you suggest, we're ed no matter who we vote for, does it matter at all who we vote for?

If nothing can be done to change our fate -- ed and un able, etc -- why not be a Bolshevik, a fascist, a monarchist or a terrorist? Or try to amass as much personal power and wealth as one can. however one can?

That seems to be where we are going. Personally I am just doing everything I can to take care of my family. I certainly monitor politics since it affects me but am pretty disillusioned with the whole charade.

[Spurs Homer]

You are a stupid little troll loser. I have never been a Trump supporter from day one. Trump is almost as toxic as you are.

hahahahahahahaha!

good one!

[Spurs Homer]

That seems to be where we are going. Personally I am just doing everything I can to take care of my family. I certainly monitor politics since it affects me but am pretty disillusioned with the whole charade.

hahahahahaha!



sez the trump NON-supporter who has been complicit in destroying our democracy the past 7 yrs at least-

defending trumps ery, looking the other way, playing the whataboutism game in every trump crime,

all while claiming- “im NOT a trump supporter!”

what a dishonest cowardly

[CosmicCowboy]

hahahahahaha!



sez the trump NON-supporter who has been complicit in destroying our democracy the past 7 yrs at least-

defending trumps ery, looking the other way, playing the whataboutism game in every trump crime,

all while claiming- “im NOT a trump supporter!”

what a dishonest cowardly

Keep it up if you want to get ISP banned this time, head.

[Blake]

That seems to be where we are going. Personally I am just doing everything I can to take care of my family. I certainly monitor politics since it affects me but am pretty disillusioned with the whole charade.

You've made it clear you benefit more when Dems gets voted in..... yet you keep voting R.

[Blake]

Keep it up if you want to get ISP banned this time, head.

forum pretend sheriff