The “Water Cooler” is a feature on Claycord.com where we ask you a question or provide a topic, and you talk about it.
The “Water Cooler” will be up Monday-Friday in the noon hour.
QUESTION: The U.S. is just days away from possibly defaulting on its debt. Do you think the United States will default on its debt, and are you currently worried about losing your job?
Talk about it.
35 comments
No
But that won’t stop DEMs putting out “Mount Rushmore” FEAR PORN.
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If Biden has a modicum of cognitive ability or intelligence, then no because it’ll be on his watch for failing to compromise.
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June 1 is a fake deadline. Yellen wouldnt provide a hard date. Strategically, I bet there is built-in “fudge factor” for a deal to happen.
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And no, Biden won’t invoke the 14th Amendment.
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No.
There is so much hype over a default. The tv keeps alluding to “financial armageddon” if the US defaults. The truth of the matter is that there is plenty of $ to pay the interest on our debt, so no default (with or without a Biden/McCarthy deal).
If no deal is reached, then we continue to pay our interest but must cease payments in other areas and furlough federal workers. The White House will claim that the Reps’ actions are forcing them to stop funding for the military, social security recipients, widows, orphans, and puppies. This doom and gloom is all just hyperbole. The positive that it might bring is that it will force tough cuts to spending that was once considered untouchable.
But there will be some pain and inconvenience. The WH will make spending cuts that are not designed so much to cut costs but to cause discomfort. They will resort to hurting the general citizens with very public reductions in services in areas that cause as much outcry as possible. Things like closing national parks and monuments during prime vacation time. Reducing mail delivery days. Delaying social security payments. Things to make the average Joe complain about his inconvenience.
But some sort of compromise will be made and we’ll continue spending money that we don’t have on things that few want.
Look up the ramifications the last time the GOP congress tried this in 2011. It included our credit worthiness went down and the interest rate went up.
Historically, it has always been the GOP spending that increases the national debt. But you don’t like actual facts.
Clinton took a weak economy from Bush and built a surplus by the end of his terms.
Obama took a recession from Bush and built the longest job creation stretch in history.
Biden took a reckless budget from Trump and cut the deficit $1.4 trillion in 2022 alone.
Republicans talk the talk on economy but Democrats walk the talk.
Clinton did nothing for the economy on the contrary he signed NAFTA and doomed manufacturing and many jobs in America. FACT
You are right DOH. Biden has saved us from the terrible Trump economy. I thank Biden and the Democrats every time I go to the store or stop at a gas station for gas. Those dumb Republicans that live in realty just don’t get it.
Reality
At least someone post something on here with a brain. How many times a day raise the debt limit under Trump, two or three times I forget. Too many people living in bubbles. If they’re negotiating on that one budget that they passed in the house that’s a 22% across the board cut. That would affect everything FAA FDA and so on. Yeah no I mean oh we already have how many times have we had salmonella on lettuce or something else that would have gone unchecked and unnoticed bad meat yeah I don’t think so.
This is fun, where the the Democrats say Republican cuts will lead to starvation, like from WIC cuts, elimination of medical care for many, staggering police force cuts and all. The reality is this next budget that will eventually be approved will represent a two trillion dollar massive increase over 2019, yet somehow in 2019 we didn’t have the massive starvation and such Democrats are frantically warning us about. Funny how that works.
No but maybe we should “could learn a thing or two”. smart people when they are out of money tend to stop spending.
No, it will not default but it should. It would be a real mess but a manageable mess right now. With Democrats spending like drunken sailors and 1.5 trillion dollar deficits as far as the eye can see, a few years from now the default might not be avoidable or manageable and will instead be a Zimbabwe full blown style currency crisis with our being issued Diversity Dollars. How many countries have been mistaken when they believed deficits don’t matter.
No….
Biden is a whack job and there is no telling what he or the puppet masters will do. How in the world did we get into his mess? Right now I say it is 60 / 40 he will not back down. Look at what he has already done to the economy and the border. The guy is out of control.
Until brain dead Joe gets out of office and Trump is in it will be bad times.And in California until grease head is gone same situation.Wake up Dems.
Trump is clueless. He’d be richer if he took Daddy’s money and put it all in a savings account.
You have to admit that in mastery of stairs, and being able to speak without flash cards or a teleprompter, Trump makes Biden look like the Cryptkeeper.
That said, Trump is not the President, and hasn’t been for quite some time.
This debt negotiation, or failure thereof, falls squarely on the Biden Administration.
Especially if that carpet stain living in the White House bails out the bank after they f**k everything up with DEI investments.
Just so there is enough to give more to the Ukraine, illegals, reparations and fight climate change while forgiving student debt. Who cares if there is any left to pay the other bills.
As mentioned by many, there are plenty of tax revenues received to service the required debt payment. Other non-debt servicing payments will be missed/deferred, but the debt payments will be made. I really do believe biden does not care if, and in fact is looking forward to a financial market collapse. He has such disregard for the average citizen that he likely relishes seeing red across all the 401ks out there. Provides an opportunity for the fed to then go in a claim these accounts were mismanaged and that additional federal oversight/management is needed. I cannot think of any limits the current administration has.
It’s a stupid dog and pony show every time the debt ceiling thing comes around.
I honestly hope one of these times they will default to shut it all down.
Politicians are so ignorant and lying on it all.
Dog and Pony show period..
Default!
Pramila Jayapal is already threatening violence in the streets if Biden negotiates at all. It’s ironic as they’ve managed the entire administration to please people like her. And she is threatening the President! She and the far left can’t be pleased. It’s not possible; they are terminally unhappy; nothing will ever be enough. Systemic crying.
They are a minor part of the population. A strong president would negotiate on behalf of the majority, and tell the far left minority to sod off.
Please tell us where you got that information about Jayapal threatening this violence. I can’t find it.
A snippet of a CNN Live interview that was reposted on Twitter millions of times.
I hope he starts with talking about the mental health of the guy living in the White House, or maybe his lack
of mental health.
This snippet was featured on FOX News: https://www.youtube.com/watch?v=8EivqtEViOw&t=16s
If you’re a typical liberal and can’t stomach listening to the words of people who disagree with you, I’ve transcribed her words regarding the possibility of spending cut negotiations as follows: “I think there would be a huge backlash from our entire, uh, house Democratic, you know, caucus – certainly the progressives. But also in the streets, you know I mean I think that this is – it’s important that we don’t take steps back from the very strong agenda that the President himself shepherded.”
In 2015 under Obama the U.S. Debt was $439 billion, the smallest since 2007. When Trump stepped in in 2016 it went up to $587 billion….2017 665billion, 2018 $779 B and his last year in office it was $983 B. In 2020, Biden came into the pandemic with $3.1 trillion. It dropped to $2.8 T in 2021….$1.38T in 2022 and this year is projected to be $1.5 T. Let’s see, whose record looks better?
My bad I’m a year off
Try FactCheck.org for a more accurate representation of deficit reality.
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Your numbers are ALL wrong.
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Therefore, you have no credibility.
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Please enlighten us with your numbers and where you found them. My numbers are from all websites on Google.
ITSME: It does not tell the whole story to only look at deficits in certain years. There was a massive increase in government spending during Covid but instead of scaling back after that mess to pre-covid and pre-recession finances, Biden wants to keep a 50% increase in government spending forever even with low unemployment. This is not to fight a recession but keeping this massive increase in government is part of his socialist agenda. Deficit financing is only part of the story.
That’s horribly incorrect. If I’m being charitable, I could assume you were thinking of deficits, rather than the debt. Assuming that it is deficits, that you’re talking about, any positive number is bad. Having tens of trillions of dollars of debt, and only ever increasing the debt, rather than paying it off, is entirely unsustainable. Both parties are terrible.
Most of the numbers at https://usdebtclock.org should frighten us. That they only ever go up should motivate us to tar and feather every member of congress.
It’s a fake deadline – Fiscal year starts July not June …they will jibber jabber for weeks then come to a conclusion that is already made .. it’s all political you know what…. we have noooooooo leadership ans it is sooooo sad
Close Biden Administration confidant Alexander Soros has visited the White House over a dozen times since 2021. Rest assured he is dictating, err, advising the Biden Administration on the debt ceiling negotiations.
Rumor has it The Sisters of Perpetual Indulgence, also close confidants of Joe Biden, have also been invited to weigh in on potential ramifications. Not that there’s anything wrong with that.
It’s like the Fast and Furious movies that I don’t watch, but know basically what happens. Another sequel to the Debt Ceiling Franchise a bunch of drama is built up and then it gets resolved at the deadline.
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