Oh shoot. What did Biden do this time? Who’s constantly letting him sneak back into the White House to sign random stuff with the DJT signature?
It was the auto pen!
POV: Your narcissistic parent took out a loan with your identity and never paid it back. 🙃
There’s a particular kind of autistic people which is worse.
My dad who behaved as a normal person, even loved to disprove anti-scientific claims and expose freakery and all that, except he had that inferiority complex and thought foreigners exist to give him the big child candy and say absolute truths, and he also thought autism is like demon possession. I mean, people usually are not who they pretend to be, but he seemed to really like discussing interesting mathematical problems at some point, I was a kid and he didn’t try well enough to explain what he was talking about, though. But I expected him at least to talk to me first in such a situation.
So a bad person with a very foreign second name (not really, just the real second name is kinda famous, I suppose, the events also happened about some time after I called famous bearers of that second name bitches) said to him a few kind words, maybe even literally gave him candy, told him he’s very smart and his family is abusing him when, eh, criticizing his intelligence, and also told him I’m autistic (he didn’t even try actually learning what that is, just was terribly afraid of it and certain he’s not), and that moron started running around secretly “curing” me, yelling every morning probably to scare away the possessing demon or whatever, trying to force me eat a lot of weird food, and never directly talking to me. I hope he wasn’t “talking to me” via a fortuneteller or a medium. Fucking idiot.
Or my old friend who again ignored me, I’m sure it’s for some occult reason too. He’d routinely stuff bullshit names into roleplaying and worldbuilding from history freakery where Aryans built Egyptian pyramids a century between a nuclear war after which 16 century Europe emerged, or something like that. Doing that covertly, not telling where did he take that crap from. Every time someone would discuss actual analogies from actual history, looking suppressed-hostile and trying to stuff something again into the conversation.
Both felt like someone covertly putting pieces of shit into your meal and being certain they are right so everything is fine.
OK. This was completely offtopic, but at the same time maybe not.
Liz Truss’ing the US economy does seem like the best analogy
Well played. Unfortunately, this one won’t exit after a short time. We’re locked in for the full term.
James Comey has the solution
He knows how to use the seashells.
He knows how to use the seashells.
His name is Robert Paulson.
Thanks Obama!
No, we were downgraded from AAA to AA under W I think it was? It was all over the news at the time
There are three top credit rating agencies and this was the final one to downgrade the US. First one was under Obama in 2011 due to Republicans playing games with the debt ceiling. Then in 2023, but I’m not sure why. And now it’s due to continued brinkmanship, but I think primarily due to Trumps impact to current and future health of us.
i remember that, but it was just 1 of 3 major credit agencies at the time. now all 3 have downgraded the us.
Clearly this is because of Clinton. /s
Obama’s economy!
Yeah to be fair the debt taking didn’t start under him. But for some strange reason, it didn’t really go this way under obama or biden… 🤔🤔🤔🤔
To be fair, Trump didn’t (singlehandedly) cause the uncontrolled US debt - formet presidents did that too (as well as Trump im his first term)
Clinton and Obama actually balanced the budget, what Trump is doing is the exact opposite.
Trump is promising massive tax cuts, and has made bills to achieve that.
Clearly Trump is off the rails irresponsible. So why would you want to be fair to Trump?
Democrats have demonstrated that the debt CAN be controlled. Republicans just refuse to do so, but always make it worse.
Now Trump is a completely new level of unhinged. And the world is reacting accordingly.No, but trump (and his republican Toadies) did just singlehandedly shake the confidence the financial world has in us… Again.
Debt can be fine, as we’ve seen real presidents use debt and not drastically hurt the US credit rating. Having a demented and unpredictable sociopath controlling the financial system is a much bigger problem, considering he’s thrown out any pretense of normal behavior and is clearly just fucking with the stick market for personal gain.
Congress also holds a lot of the blame.
They had a perfect credit rating?? And nobody is surprised?
You should be concerned with debt/GDP ratio, not the overall number. We’ve had no problem paying our bills which is why in the past we have had an excellent rating. Historically our debt/GDP ratio has been in line with other nations with developed economies. Nothing unusual.
Moody’s is lowering our rating because our GDP is projected to go down (due to tarrifs and destruction of the public sector) and we are going to be operating with a budget deficit. Decrease in GDP means less tax money coming in, and we will be adding to the deficit anyway (and thus our debt) due to Republican policies.
Trump has also said he didn’t feel like paying the interest on the debt, which no one took seriously and he didn’t follow through with. Thank god. Since most tbills are owned by US holders, not paying out bonds is a direct self-own.
Focusing on the actual debt total doesn’t paint a full picture. Moody’s is only concerned whether tbills purchased will actually pay.
The US Dollar is (edit: I should say “has been”) the currency of global trade. Everybody wants it, meaning they can just print more and it won’t lose value. It doesn’t matter how much debt they have as long as that’s the case.
That’s not an immutable fact.
As soon as US bonds are no longer considered “the safest investment”, the USD standard is going to get shaky, and people will probably start looking a lot harder at the Euro.
In point of fact, a coordinated sell (or threat to sell) US bonds across several large countries and the EU was what actually made orangeboi back off on the tariffs initially. That is 4D geoeconomic chess, not this whinging about tariffs and revival of idiotic protectionist policies.
That is correct. But it’s not happening because of debt, and that’s all I was saying.
Except due to the overuse of sanctions and the new trade war bullshit, the dollar is losing that status. There are too many countries that are unable to use dollars at this point for the dollar to remain a reserve currency. This is the beginning of the end.
True. Which is why they lost their rating I guess. I was just commenting on why national debt isn’t a real indicator of anything.
