These Recession Signals are Flashing...

[bbsam]

US office buildings face $117BN debt time bomb as mortgages come due

Owners of office space around the country took out their loans when interest rates were half what they are now, and may not be able to refinance them at higher ones.

www.dailymail.co.uk

• Hundreds of loans on office buildings are about to come due at a very bad time
• Loans were taken out in time of low interest rates and are now hard to refinance
• Too many of the loans defaulting could trigger banking crisis and hurt economy

Same thing happening in the auto industry. People defaulting on them because, well, because why not? They aren’t worth what’s owed on them.

Truly an economic disaster waiting to happen.

 

[bbsam]

I want to see 1 quadrillion dollars in debt. It has to end somewhere sheesh.

No it doesn’t.

 

[IVE GOTTA PACKAGE 4U]

Same thing happening in the auto industry. People defaulting on them because, well, because why not? They aren’t worth what’s owed on them.

Truly an economic disaster waiting to happen.

What could go wrong?

 

[catstalking]

Here's a tried and true idea. Cut taxes.

yeah lets make the debt worse

Then cut government spending where you can.

useless solution

Don't take the increased revenue that cutting taxes brings and go on a spending spree.

not only does cutting taxes NOT increase revenue, but this is fantasy anyways

We're closing in on $35 trillion in debt. We have to stop believing we can have equal outcomes for everyone and throw money away trying to achieve that.

if you'd carefully read what @bbsam is saying, he's already saying that

 

[bbsam]

Here's a tried and true idea. Cut taxes. Then cut government spending where you can. Don't take the increased revenue that cutting taxes brings and go on a spending spree. We're closing in on $35 trillion in debt. We have to stop believing we can have equal outcomes for everyone and throw money away trying to achieve that.

Who said anything about “equal outcomes”? When’s the last time cutting taxes “paid for itself”? Are we really pretending that republicans cut taxes and then the democrats took all the money and went on a spending spree?

I’ll say it again. Trump and the republicans had all of Washington. They passed the tax cuts. They did not pass the spending cuts. And you act like democrats should have signed onto the spending cuts. Why? They didn’t sign onto the tax cuts. Republicans knew that if they did the tax cuts without getting the spending cuts they’d explode the debt. They did it anyway. And not one of the regrets it, suggests that it was a mistake, or takes any ownership of the ongoing debt it helped create.

George H. W. Bush called it “voodoo economics”. I’m beginning to think the voodoo is getting so many people to believe in the nonsense for so long.

 

[vantexan]

yeah lets make the debt worse


useless solution

not only does cutting taxes NOT increase revenue, but this is fantasy anyways

if you'd carefully read what @bbsam is saying, he's already saying that

Apparently you're unaware that every time we've cut taxes government revenue increased. JFK pointed this out when he was president. Ah, the good old days of smart Democrats.

 

[bbsam]

Apparently you're unaware that every time we've cut taxes government revenue increased. JFK pointed this out when he was president. Ah, the good old days of smart Democrats.

How many times has it “paid for itself”?

 

[vantexan]

How many times has it “paid for itself”?

Every single time. And every single time Democrats look at the surplus and start cooking up ways to spend it.

 

[Sportello]

Apparently you're unaware that every time we've cut taxes government revenue increased. JFK pointed this out when he was president. Ah, the good old days of smart Democrats.

What were the tax rates under JFK?

 

[Sportello]

Every single time. And every single time Democrats look at the surplus and start cooking up ways to spend it.

Look at my avatar. I am looking for those surpluses that Republicans have given us.

I can’t find them.

 

[catstalking]

Apparently you're unaware that every time we've cut taxes government revenue increased.

JFK pointed this out when he was president.

cutting taxes pre-1971 is a TOTALLY DIFFERENT THING than cutting taxes post-1971

we are living in a debt-based monetary system, you cannot whatsoever compare what happened under a different monetary system

cutting taxes when you're in debt is literally just another form of money printing

 

[Gotta Go]

Like I posted earlier, Poor people have been voting for Democrats for over 60 years and their still poor.
At least we don't have to hear, "If you vote for Republicans grandma will have to eat dog food".
Dog food costs more than people food now.

 

[vantexan]

What were the tax rates under JFK?

I give up, what were they? High? JFK wanted to cut them. Tread lightly, he's a hero you know.

 

[vantexan]

cutting taxes pre-1971 is a TOTALLY DIFFERENT THING than cutting taxes post-1971

we are living in a debt-based monetary system, you cannot whatsoever compare what happened under a different monetary system

cutting taxes when you're in debt is literally just another form of money printing

You're getting lost in the weeds. Reagan, W. Bush, and Trump all cut taxes post 1971 and government revenue went up.

 

[bbsam]

You're getting lost in the weeds. Reagan, W. Bush, and Trump all cut taxes post 1971 and government revenue went up.

So why don’t republicans cut spending?

 

[vantexan]

So why don’t republicans cut spending?

Reagan dealt with a Democrat controlled Congress and outspent the Soviets militarily to bring the demise of the Soviet Union. Bush dealt with the aftermath of 9/11. Trump cut a deal with Democrats to get his military spending.

Right now Biden has reduced military personnel to pre WWII levels. Obama did the same. Different priorities of different parties.

 

[Up In Smoke]

You're getting lost in the weeds. Reagan, W. Bush, and Trump all cut taxes post 1971 and government revenue went up.

Reagan began raising taxes in 1983, only one year after the cuts, Bush revenues went down the first four years following the cuts and Trumps went up, but fractionally of the cost. Obama's went up steadily, but again at a fraction of the cost.

 

[vantexan]

Reagan began raising taxes in 1983, only one year after the cuts, Bush revenues went down the first four years following the cuts and Trumps went up, but fractionally of the cost. Obama's went up steadily, but again at a fraction of the cost.

If you cut taxes and government revenue goes up higher than if you had left taxes in place then the tax cuts are a success. However, if you have a political party eager to find new ways to spend the higher revenue then you're soon back behind the eight ball. Honestly don't understand why you guys don't get that.

 

[vantexan]

Look at my avatar. I am looking for those surpluses that Republicans have given us.

I can’t find them.

First, buy a clue.

 

[Up In Smoke]

If you cut taxes and government revenue goes up higher than if you had left taxes in place then the tax cuts are a success. However, if you have a political party eager to find new ways to spend the higher revenue then you're soon back behind the eight ball. Honestly don't understand why you guys don't get that.

If the tax cuts raise revenue a $1, but cost you $10 in borrowing the capital to do so, you go out of business. Neither party is or has ever been invested in cutting spending. The overwhelming percentage of debt has occurred while a conservative was in the big chair.