Doesn’t this also raise the rate of interest our country we pay on the national debt?
Doesn’t this also raise the rate of interest our country we pay on the national debt?
You mean us the tax payers? YES!Originally Posted by yatesville88fan
Any future debt, yes. Any existing debt, no. US debt is issued in the form of treasury instruments.
The face value, at issuance, is the determining factor in calculating the ensuing debt owed forward.
Of course, much debt is "rolled over" since we're a national crisis in respect to spending & budget.
Fixed it. Removed the word budget! Not sure you can call it a budget!
According to the Congressional Research Service, Congress has made 98 debt limit modifications since the end of World War II. These include both debt ceiling increases and suspensions, which keep the debt limit firm temporarily. Meanwhile, 17 of those debt limit changes have occurred since 2001.
In modern times, only four years have seen a surplus budget, all of them belonged to President Clinton.Fixed it. Removed the word budget! Not sure you can call it a budget!
We shouldn't even have a debate about it. Surplus should be mandated except in a time of war, period.
Surplus should be =>10% until the national debt is resolved. But that would require proper behavior.
Middle and low incomes are hit the hardest per their income.. I always say raise taxes so everyone takes some hit. Interest rates are nothing to a whole lot of people.
Did the debt clock even slow down during those years?
I don't think our debt has variable rate interest. It affects future debt.
Thanos was the hero
I agree and President Clinton had a GOP Congress
FIFY ... the minute we stop labeling and start holding EVERYONE accountable, we will fix things.
Of course, that sure wouldn't be profitable in DC, Tallahassee, Charleston, etc. Let's work on it.
Thank you Newt.
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Math isn't my strong suit but i'm not sure how you can call something a surplus if there is still debt.
Only works with Gubbment math. Politicians went to the Wesley Mouch school of math.
Yep if a budget isn’t raised then they say there is a cut in the budget.
Surplus funds are used to pay down the debt, it's not just about stopping the bleed.
Of course, we've been going steady into the darkness since 2002, two decades even.
We must remove deductions & exemptions, use funds to pay off the national debt.
But it won't work if we don't mandate a surplus budget as long as we are indebted.
Once the national debt is zero, taxes can be reduced to offset any excesses, simple.
Debt is what we owe on all past expenditures and a surplus means less was spent in one year than was collected in taxes that same year.
Yes. Thanks Newt!
No one can be wrong that often so it has to be deliberate.
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