$26,578,000,000,000: U.S. Debt Passes Redline at 106 Percent Of GDP

ist2_141437_arrow_graph_down_rev_mediumPoliticians are continuing to promise trillions of dollars in free education, housing subsidies, universal health care and other programs. Recently, BET founder Robert Johnson called for $14 trillion in reparations alone. Kamala Harris has a $10 trillion climate plan. On the Republican side, President Trump has shown little restraint in spending throughout his term while cutting revenue (and borrowing at a record rate).  It is not surprising therefore that, last month, the United States passed the long-discussed red line for economists.  Our debt is now greater than than our gross domestic product.  In June, we passed $25.5 trillion in debt and this figure may be overly conservative. It is now roughly $27 trillion. Yet, neither party seems a bit concerned as this political ship of fools floats toward a collision with economic reality.

The federal debt has ballooned with pandemic spending but Congress and the White House was already spending with abandon before anyone even heard of Covit-19 or the Wuhan wet market.

Just consider this simple fact.  In December 2019, we were $17 trillion in debt (an alarming figure discussed on this blog as 80 percent of the gross domestic product. The fear of government analysts was that debt would approach 100 percent of GDP by around 2030. We reached that point at the end of June with $25.53 trillion, or 106 percent of GDP.

Yet, politicians are still throwing around trillions of dollars like they are bargaining chips like Speaker Nancy Pelosi recently expressing frustration that the White House does not simply reach an agreement with it going up a trillion and the House going down a trillion on the next stimulus package.

We have a new mindset that makes Sen. Everett Dirksen look positively frugal when he famously said “A billion here, a billion there, pretty soon it begins to add up to real money.” Now it is a trillion here, a trillion there and it still does not seem like real money.

It is certainly true that large economies like the United States can hold huge debt without spooking investors and triggering a rise in interest rates on debt.  We have passed the 90 percent mark a few times in history as with World War II.  However, there is every reason to be concerned.  World War II also was followed by an expanded industrial base and booming economy. That does not seem in the works to the same extent.  In addition, we will be looking at increased annual deficit funding to meet these commitments without substantial increases in taxes, which do have an impact on investment and employment rates. Debt and deficits are often confused but the ledger is not good in either category.

No one is suggesting clarity on how such trends play out but it would be comforting if there was some indication that either party was taking this ballooning debt seriously.

 

218 thoughts on “$26,578,000,000,000: U.S. Debt Passes Redline at 106 Percent Of GDP”

  1. Americans don’t like to make sacrifices, they just want the good life. Just put it on the card.

    1. People make sacrifices all the time. We have a lower savings rate than other affluent countries do, in part because our age pyramid skews younger and in part because we rely less on consumption taxes.

      Keep in mind, state and local governments balance their books routinely and the U.S. government did so routinely prior to about 1961. It’s not ‘Americans’ who are the problem, it’s Congress.

      Republicans are resistant to tax increases, in some part because it’s part of their promotional strategy and in part because they remember what happened with the tax increases agreed upon in 1990. The ratio of federal debt to domestic product did begin to fall, but only after the Democratic caucus lost control of the congressional committee architecture. Ronald Reagan told David Stockman ca. 1985 that if you agree to a tax increase, the Democratic caucus will just spend the new revenue on the next 10 items on their wish-lists. Since it took four years after the 1990 tax increase to see a decline in the propensity to borrow, it’s a reasonable inference that what Reagan predicted is precisely what happened.

      Democrats are resistant to spending cuts. They build patron-client relationships around taking money from ordinary people and sluicing it to their clients – to state and local governments, to the social work industry, to higher education, &c.

  2. “Let me tell you a little secret. Obama can’t stand Biden. I’m not going to tell you how I know that or why because I don’t want to be a tattletale. Obama can’t stand Biden. He thinks he’s a joke. It’s not personal. He doesn’t think he’s a malicious or horrible guy, he thinks he’s a moron. So does his staff. So does the Obama for America alumni network. They think Biden, Obama’s crew thinks Biden is a damn fool. Folks I’m telling you to take that check to the bank and cash it. That is a fact.

    ” I keep a large network of friends. Some of them I remember from a prior line of work. I’m not talking about law enforcement people either. I’m talking about some people I know who are marginally involved in politics. Who are basically involved for the money, not so much the ideology, so they’re happy to talk. The Obama team thinks Biden is an idiot. Hence in his (Obama’s) speech last night, why Obama in 15 minutes barely mentioned Biden.”

    – Dan Bongino, August 21, 2020

  3. From January:

    Trump’s Tax Cuts Were Adding Debt While Doing Little For Average Americans

    Less than a week after Treasury Secretary Mnuchin repeated the fanciful claim that the Trump tax cuts of 2017 would pay for themselves, the non-partisan Congressional Budget Office (CBO) proved him wrong. If tax cuts actually paid for themselves, they would reduce deficits based on faster revenue growth that comes from faster economic growth. Deficits immediately shot up after the 2017 supply-side tax cuts. And CBO forecasts that those deficits will continue to stay high for the foreseeable future. This is the opposite of tax cuts paying for themselves.

    CBO released its regular update to the economic and budget outlook on January 28. The new estimates show a deficit of $1 trillion for 2020. This is the equivalent of 4.6% of gross domestic product. The federal budget deficit will grow to 5.4% of GDP by 2030, according to GDP.

    This is a much worse outlook for the current deficit than CBO showed just before Congress passed the Trump tax cuts. In June 2017, CBO anticipated a deficit of 3.6% of GDP for 2020. The current deficit is thus 27.8% greater than CBO projected before the tax cuts. Moreover, this one percentage point difference in the current projected deficit and the prior projection equals $221 billion for 2020. This is a substantial gap that follows in large part from the tax cuts, especially since the economy continued to grow during this time.

    A temporarily larger deficit may be worth it, especially in a world of very low interest rates, if it translates into faster economic growth. But that is not what has happened. Economic growth increased briefly in early 2018 but quickly fell back to or even below the modest levels that persisted before the 2017 tax cuts (see figure below). Not all deficits are bad, but the ones from the supply-side tax cuts have proven to be.

    Congress enacted the trickle-down tax cuts, known as the Tax Cuts and Jobs Act, in December 2017, aimed at accelerating growth. The argument in favor of these cuts went something like this: Giving corporations a lot more money and showering the richest households would give them more cash to invest. This would lower the cost of investing and spark a boom in investments in new manufacturing plants, office buildings, vehicle fleets and energy upgrades, among other things. These new investments would translate into faster productivity growth, higher economic growth and stronger wage and employment gains. That was at least the argument for selling lopsided tax cuts for the biggest winners in the current economy.

    But the first step in this chain — faster business investment growth — never happened. This should not have been surprising. Corporations were already profitable and sat on piles of cash in 2017. The richest households had also reaped the benefits of the economic expansion since 2009. And interest rates were very low. Yet none of these factors were enough to spark an investment boom. Those looking for cheap money for their investments didn’t have to look far. The problem was that there weren’t enough companies looking to invest.

    Edited From: “Trump’s Wasteful Tax Cuts Lead To Continued Trillion Dollar Deficits in Expanding Economy”

    Forbes, 1/29/20
    ……………………………………………………………………………………………………………………………………………………..

    NOTE: Interestingly Professor Turley tells us that even ‘before’ the pandemic hit, our debt was precariously high. This article, from January, illustrates how right the Professor is on that point. Even without this pandemic, our debt was already at wartime levels. And one could say that the Bush tax cuts, invasion of Iraq, and Trump tax cuts of 2017 surged the national debt while doing almost nothing for average Americans.

      1. Oh, yeah, Olly, Obama was supposed to balance the budget during the Great Recession. But Republicans have put no such demands on Trump. They honestly haven’t cared about ‘fiscal responsibility’ since Obama left the White House.

        1. Congress writes appropriations bills. Obama blew off the Simpson-Bowles commission and acted as an impediment to spending reductions. Trump’s not standing in the way of spending reductions. The reductions only happen when Congress writes the appropriations bills that way.

    1. Pro tip: if you want people to take you seriously, make your own argument. Don’t recycle content which contains nonsense terms favored by Democratic Party press agents (“trickle down”).

      1. Abusrd, ‘pro tip’ from WHO..?? You imagine yourself as ‘pro’ of some kind??? ‘Pro what’..???

  4. To be a Socialist is to submit the “I” to the thou, Socialism is sacrificing the individual to the whole. Joseph Goebbels . “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie” again Joseph Goebbels.

  5. Ya don’t suppose Trump senses that he’s going to lose in November and he wants to see the Democrats squirm under such a debt?

  6. Americans may generate and distribute all the charity they want…IN THE PRIVATE SECTOR. Americans may financially support every parasitic minority they want…IN THE PRIVATE SECTOR. Congress may tax only for ALL or “…general Welfare…” – roads, water, post office, sewer, trash pick-up, electricity, heating oil/natural gas, etc. Congress has NO power to tax for specific or individual welfare, charity or any form of redistribution of wealth. Congress has NO power to interfere with or “…claim or exercise dominion over…” the private property of individuals. Any of ya’all lawyers here ever read the Constitution? It is long past time for corrective action with extreme prejudice. Where are Jefferson, Hamilton, Madison, Washington, Jay, Adams, Hancock, Paine, Henry et al. when America needs them?

    Government, under the Constitution, is intended to be infinitesimal and almost entirely without influence or effect on the free citizens of the United States.

  7. Repeal all withholding tax laws. Make taxpayers write a check on April 15 for the government’s entire nut.

    If a person making $45K a year has $9000 withheld from her paycheck by her employer instead has to write a big check of $9000 to pay her income and FICA taxes, I bet she’ll have a different attitude about government spending.

    I suspect she’ll take a greater interest in understanding where all of her hard earned money is going. She’ll probably worry more about waste, fraud and corruption; she’ll begin to wonder if we really need a gazillion federal agencies staffed with millions of bureaucrats; whether we really need a defense budget that is 10x larger than the country that spends second most on defense. And so on.

    1. Scott, it sounds like you’re advocating the dissolution of Social Security and Medicare. Brilliant idea! And I suppose you’re going to tell us that no one in your family has ever depended on these programs. What’s more, you’re probably going to claim that you’re such a ‘wise investor’ you won’t be needing any safety nets in your old age. And because you’re so smart, you can’t understand why ‘anyone’ would need those social safety nets.

      Yeah, we’ve heard all this tripe before.

      1. it sounds like you’re advocating the dissolution of Social Security and Medicare.

        Not surprisingly, you’re not understanding Scott’s point. Why do you hate the W-2 wage earner? The requirement to pay the FICA and Medicare payroll taxes would still exist.

        1. Olly, the government needs money to run on. We ‘want’ to remain a superpower second to none. That role costs us hundreds of billions per year.

          Why pretend we can get by on a Calvin Coolidge-size government? We can’t! It’s a stupid fantasy. Realistically we need to raises taxes on everyone to pay-down the crushing debt we have. Now is definitely ‘not’ the time for more mindless tax cuts.

          1. “That role costs us hundreds of billions per year.” Actually, it’s TRILLIONS, which is THOUSANDS OF BILLIONS.

      2. Anonymous/Seth:

        I did not say one word about repealing Medicare, Social Security or any other program.

        Reading comprehension: how does it work?

      3. “…it sounds like you’re advocating the dissolution of Social Security and Medicare.”

        Well, DUH!!!

        Mr. Scott,

        Tear Down This Wall!!!
        __________________

        The Supreme Court has been and remains the singular American failure. Congress may tax only for “…general Welfare…” per Article 1, Section 8. Congress has no power to tax for individual welfare, charity or any other form of redistribution of wealth. Congress has no power to regulate anything other than the “value” of money, the “flow” of commerce and “…land and naval Forces.” Per the 5th Amendment right to private property, which is not qualified by the Constitution and is, therefore, absolute, Congress has no power to “…claim or exercise dominion over…” private property. It has always been the charge and the duty of the Supreme Court to assure that the “manifest tenor” of the Constitution is implemented, adhered to and not deviated from.

        The entire communistic American welfare state is unconstitutional including, but not limited to, affirmative action, quotas, welfare, food stamps, rent control, social services, forced busing, minimum wage, utility subsidies, WIC, TANF, HAMP, HARP, TARP, Agriculture, Commerce, Education, Labor, Energy, Obamacare, Social Security, Social Security Disability, Social Security Supplemental Income, Medicare, Medicaid, “Fair Housing” laws, “Non-Discrimination” laws, etc.

        Karl Marx wrote the Communist Manifesto 59 years after the adoption of the Constitution because none of the principles of the Communist Manifesto were in the Constitution. Had the principles of the Communist Manifesto been in the Constitution, Karl Marx would have had no reason to write the Communist Manifesto. The principles of the Communist Manifesto were not in the Constitution then and the principles of the Communist Manifesto are not in the Constitution now.
        _______________________________________________________

        “…courts…must…declare all acts contrary to the manifest tenor of the Constitution void.”

        “[A] limited Constitution … can be preserved in practice no other way than through the medium of courts of justice, whose duty it must be to declare all acts contrary to the manifest tenor of the Constitution void. Without this, all the reservations of particular rights or privileges would amount to nothing … To deny this would be to affirm … that men acting by virtue of powers may do not only what their powers do not authorize, but what they forbid.”

        – Alexander Hamilton
        _________________

        Article 1, Section 8

        The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

        To regulate Commerce with foreign Nations, and among the several states, and with the Indian Tribes;

        To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

        To make Rules for the Government and Regulation of the land and naval Forces;
        ________________________________________________________________

        5th Amendment

        No person shall be…deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
        ______________________________________________________________________________________________________________________________

        “[Private property is] that dominion which one man claims and exercises over the external things of the world, in exclusion of every other individual.”

        – James Madison

      4. “…sounds like you’re advocating the dissolution of Social Security and Medicare.”

        No, it doesn’t sound like that at all.

    2. Swiss citizens and their permanent residents do not have taxes withheld. They pay taxes from their wages and wealth, and the people are much more careful with demanding “entitlements.” Even people with a single digit IQ quickly realize the government’s money comes from the people and it’s anything but free.

  8. The federal debt is wildly out of control. That bill will come due.

    Lenin claimed that one death is a tragedy, while a million is a statistic. Astronomical debt figures appear to become meaningless abstracts in the same way.

    Austerity measures are very difficult. We keep taxing and spending and wasting. Politicians have made lucrative careers out of promising free stuff. But when it comes time for austerity measures, when budgets all collapse into ash, it is going to lead to mass unrest. People have been promised more and more stuff, and they are going to want it in perpetuity. When we run out of money, they are going to riot. Ask Greece.

    I think the only chance we have to reducing the debt is to sweep both houses of Congress and the White House. Otherwise, we will keep agreeing to more compromises that essentially boil down to more pork. I wish Trump had enacted more savings, but that opportunity was destroyed with the arrival of the pandemic. At this point, all we can hope for in the next couple of years is fighting to limit the massive pandemic spending.

    If the Democrats win the Oval Office and both houses of Congress, the economy will collapse under the strain of their goodie lists.

    1. Austerity measures are very difficult.

      Look what Congress and the President accomplished in 1945-49. It’s not that difficult. They.Just.Don’t.Feel.Like.It.

    2. All that’s needed is to repeal each and every one of them. You won’t get that with the socialist liberal regressives. Just like four years ago when they tried to shove us off the slippery slope and steep cliff. Instead they are now in that position especially with independent Constitutional Centrists nearing 50% instead of 40% of the valid vote that wiped out Comrade Clinton

    3. Someone tell Karen about the 2017 tax cut and the budgets passed by a GOP Congress with a GOP President. Do it slowly. Her head might explode.

  9. Jonathan: When Trump wants to build his ego driven wall money is no object. He stole billion from the military budget to pay for it. Didn’t hear you complain about that. When Trump/Republicans passed unnecessary massive tax cuts for corporations and billionaires in 2017 didn’t hear you complain then either. Even though those tax cuts resulted in deficits in the trillions. But now you are all of sudden concerned about the deficit and national debt because you claim Democrats want to spend money on “free education, reparations and universal healthcare and other programs”–even though these, except for reparations, are investments, not give-a-ways to corporations and the wealthy. Would you prefer that university students be saddled with debt that they cannot re-pay? Would you prefer to continue with our broken healthcare system where millions of Americans cannot afford the cost of a COVID-19 test because they lost their jobs and health insurance? And the pandemic that has revealed how under funding of our public health system has contributed to the lack of vigorous testing and followup contact tracing? And I don’t hear you complain about the bloated Pentagon budget. In FY 2020 Trump pushed through $738 billion for the military. This year he wants $750 to $800 billion. At the same time Trump wants to cut the budgets of the CDC and NIH–the very agencies we need desperately to fight the coronavirus. Don’t hear you complaining about these cuts. That’s because conservatives like you think that tax cuts for the rich and more money for the Pentagon are more important than programs that actually help the average American. I say we should continue to spend whatever it takes to defeat the coronavirus that has already claimed the lives of over 150,000. Many of these deaths could have prevented had Trump not displayed criminal negligence in addressing the crisis!

    1. Likewise when the regressive liberals wanted to pay off their campaign debts they had not problem destroying national defenses and increasing the debt using the cycle of economic repression of borrow, inflate, and repudiate the debt resulting in a 30% loss of buying power of the retired and workers dollars AND let’s not forget matching his try for a 12% increase in retirement to the zero point two phony COLA. Only thing different he didn’t get caught doing nothing when then million death influenza attack hit on his watch. And let’s not talk about the black mail bribe to get the first stimulus through and the current two trillion add on for nothing.

      It would be such a pleasure to watch him and the Constitutionaist majorities vote to repeal every one of those expenditures caused by Comrade Piglosi and Comrade Schumuckly Putz.

    2. Trump vs Obama. Classic misinformation. Facts from Treasury Direct.com 1-20-2009. Debt = 10.627 Trillion, 1-20-2017 debt = $19.947 Trillion increased debt = $9.32 Trillion. 8-20-2020 debt = $26.596 Trillion increased $6.95 Trillion. Fact 4-2-2020 debt =$23.834 / 7-2-2020 debt= $26.458 Trillion increased $2.624 Trillion in 3 months. Obama increased debt by $1.17 Trillion yearly. Trump without the extra ordinary increase from the Wuhan Virus of $2.624 Trillion increased debt by $1.08 Trillion per year. Could get into increased GDP prior to shut down but any moron knows they were doing better than Four years earlier.

  10. Again, this is a nonsense statement. Except for the PIIGS, countries reached their nadir in 2009. It hardly matters whether they began growing again in May or August.

    Assessing how rapidly per capita product grew after 2009 would not be a nonsense statement. Of course, you’d have to run a regression analysis with other vectors to get a sense of what the contributions to growth rates might have been, and you haven’t a clue.

    The annual growth rate in per capita product over the period running from 2009 to 2016 was as follows:

    3.08%: Poland
    2.90%: Korea, South
    2.24%: Irish Republic
    2.07%: Israel
    1.65%: Germany
    1.59%: Japan
    1.51%: Russia
    1.29%: United States
    1.20%: Great Britain
    1.13%: Canada
    1.10%: Australia
    1.10%: Argentina
    0.59%: France
    -0.47%: Italy

    A mess of continental European countries did do quite poorly. Might have something to do with a dysfunctional currency peg. In any case, you need to quit using the DNC talking point mill you’ve been consulting, because they’re lying to you.

  11. Look at the charts. Obama’s measured recovery: increased employment, increased productivity, deficit lowering, upswing in wages, better health care insurance, better healthcare, and on and on. Then along came Trump the champion of liars. He told the dupes the opposite and they believed him. And here we are today. Proof, you want proof. Look up the charts and graphs.

    1. So says the big effing war hawks like you, who now run the DNC. We can see you salivating over the wars the DNC promised this week at their war carnival, including John Chicken Hawk Dog Face “I married a couple milionairesses” Kerry. You left off that Jesus Obama also turned Bush’s 2 illegal foreign military excursions into 7. Don’t take my word for it, take the word of true “progressive” Jimmy Dore: https://www.zerohedge.com/geopolitical/jimmy-dore-blasts-bidens-lineup-neocon-war-hawk-endorsements-dnc-convention

      Doesn’t it feel great voting for the same POTUS candidate as neo-cons supreme Bill Kristol, the Koch Bros., George F. Will Jr.

    2. Obama did nothing other than take the TBTF bailout baton from Bush, and do exactly what Bush would have done.

      He completely screwed over and decimated the middle class in the process.

      1. He completely screwed over and decimated the middle class in the process.

        He didn’t. He just added more increments of abuse, not of the middle-class in general, but of the sort of middle-class people who vote Republican.

        Obama did nothing other than take the TBTF bailout baton from Bush, and do exactly what Bush would have done.

        Don’t thing the auto industry bailout or the porkulus would have been the issue of a Republican administration. Hard to say because Bush had commitments much more than he had convictions, and he hadn’t committed against such things.

  12. WHO VOTED LARGESS OUT OF THE PUBLIC TREASURY?
    ________________________________________________

    The Greeks created democracy as a restricted-vote republic.

    The Romans perpetuated the restricted-vote republic.

    The American Founders perfected democracy as a restricted-vote republic – the Founders’ first election, that of President George Washington, had an 11.6% turnout, by design.

    The communists (liberals, progressives, socialists, democrats, RINOs) have destroyed the American republic, which, Ben Franklin admonished, America could not keep.
    ____________________________________________________________________________________________________________________________________

    “A democracy cannot exist as a permanent form of government. It can only exist until the people discover they can vote themselves largess out of the public treasury. From that moment on, the majority always votes for the canidate promising the most benefits from the public treasury, with the result that democracy always collapses over a loose fiscal policy–to be followed by a dictatorship.”

    – Alexander Fraser Tytler
    ____________________

    “[We gave you] a republic, if you can keep it.”

    – Benjamin Franklin

  13. When Republicans controlled both houses of Congress and the Presidency they passed tax cuts for the wealthy all by themselves and Trump signed it. Added trillions to the deficit in good economic times. No offsetting spending cuts were ever proposed.

    When Trump wanted to spend more money for the wall, he did it through emergency powers without the need for any compromise with Democrats or any Democratic votes, and no corresponding tax increase to pay for it.

    When Trump wanted to cut/suspend payroll taxes last month he did it by executive order without the need for any compromise with Democrats or any corresponding spending cuts to pay for it.

    The pattern here is that Trump and Republicans are increasing the deficit all by themselves. But Turley tries to make this a mostly Democratic issue.

    1. That’s cuz Turley is campaigning for an elected office and he is Republican so he has to sort of avoid telling the truth about Trump. Reagan cut taxes on the rich, increased spending and a recession followed. Reagan said himself on TV that his math didn’t work out. Bush did the same and, well you remember, it was all Republican. Now Trump’s song and dance started a decline in growth and an increase in deficit last summer. Trump gambled and lost. Six time bankrupt, twelve failed businesses, etc. And Turley still champions these mutts.

      Cut military spending by a third. Increase taxes on those earning over a million a year. Close all loop holes. Reign in US globals to keep them from selling off cheap US technology, etc.

      1. +10

        It seems to be impossible for repubs to realize that systematically removing money from the economy and handing it to the upper brackets through breaks and loopholes slows growth. Not for lack of evidence their approach doesn’t work. But i guess the cash in hand when they get power is worth it to them.

        And the JT schtick about being a democrat is just a tag line he uses to soften his repub sensibility. He’s full on the (losing) trump train. And him running for office in the aftermath of smoking ruins seems as possible as anything else. Seems he was making a play for the SCOTUS but didn’t drink enough beer and date rape enough women at thrash keggers to get the nod in the halycon days of the floater that is the trump presidency.

        1. You two guys are funny, It’s bad enough when people like you incorrectly label people, but to ignore the true definition of “Liberal” is beyond ignorance. You may now continue patting yourselves on the back now.

    2. When Republicans controlled the House and Senate, they should have impeached and convicted most of the Justices of the Supreme Court for usurpation of power, abuse of power, corruption, insurrection, gross dereliction, gross negligence and, yes, constitutional treason, for aiding, abetting and adhering to the enemies of America, which are the nations which engage in global communism, China for but one.

      The Supreme Court has been the singular American failure. Congress may tax only for “…general Welfare…” per Article 1, Section 8. Congress has no power to tax for individual welfare, charity or any other form of redistribution of wealth. Congress has no power to regulate anything other than the “value” of money, the “flow” of commerce and “…land and naval Forces.” Per the 5th Amendment right to private property, which is not qualified by the Constitution and is, therefore, absolute, Congress has no power to “…claim or exercise dominion over…” private property. It has always been the charge and the duty of the Supreme Court to assure that the “manifest tenor” of the Constitution is implemented, adhered to and not deviated from.

      The entire communistic American welfare state is unconstitutional including, but not limited to, affirmative action, quotas, welfare, food stamps, rent control, social services, forced busing, minimum wage, utility subsidies, WIC, TANF, HAMP, HARP, TARP, Agriculture, Commerce, Education, Labor, Energy, Obamacare, Social Security, Social Security Disability, Social Security Supplemental Income, Medicare, Medicaid, “Fair Housing” laws, “Non-Discrimination” laws, etc.

      Karl Marx wrote the Communist Manifesto 59 years after the adoption of the Constitution because none of the principles of the Communist Manifesto were in the Constitution. Had the principles of the Communist Manifesto been in the Constitution, Karl Marx would have had no reason to write the Communist Manifesto. The principles of the Communist Manifesto were not in the Constitution then and the principles of the Communist Manifesto are not in the Constitution now.
      _______________________________________________________

      “…courts…must…declare all acts contrary to the manifest tenor of the Constitution void.”

      “[A] limited Constitution … can be preserved in practice no other way than through the medium of courts of justice, whose duty it must be to declare all acts contrary to the manifest tenor of the Constitution void. Without this, all the reservations of particular rights or privileges would amount to nothing … To deny this would be to affirm … that men acting by virtue of powers may do not only what their powers do not authorize, but what they forbid.”

      – Alexander Hamilton
      _________________

      Article 1, Section 8

      The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

      To regulate Commerce with foreign Nations, and among the several states, and with the Indian Tribes;

      To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

      To make Rules for the Government and Regulation of the land and naval Forces;
      ________________________________________________________________

      5th Amendment

      No person shall be…deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
      ______________________________________________________________________________________________________________________________

      “[Private property is] that dominion which one man claims and exercises over the external things of the world, in exclusion of every other individual.”

      – James Madison

  14. The Republican Party has made quite an art out of separating taxing decisions from spending decisions. Do you want higher or lower taxes, they ask? Lower everyone says. Then when it comes time to cut they basically leave all the big things alone – military, social security, Medicare – because everyone objects to that. And then there is simply no way to balance the budget on the items that remain in the budget.

    The deficit went up, up, up under Reagan. It is bound to. The only solution is to tie things together – the next time someone decides to cut taxes – make them pass spending cuts of equal value in the same vote.

  15. Allan and several others have questioned whether Commit has lived up to her claim of honesty. This might help.

    COMMIT on August 21 at 12:39
    “Young, no one here said “Race is a social construct and has no basis in biology.”

    COMMIT on August 12, 11:41 pm
    “Race is social construct, not a biological one.”

    Both found in the post on mandatory mask use.

    Judge for yourself.

    1. Gainesville’s an old man. He gets muddled as to which talking points he’s used in which discussion.

    2. YOUNG WINS THE INTERNET FOR TODAY! BRAVO! (No sarcasm.)

      “Needs To Be Committed” is human detritus of the lowest order.

      1. Slavering, rabid, activist, extremist, anarchistic, parasitic, communistic (liberal, progressive, socialist, democrat, RINO) Feminazi White Shirt and mortal enemy of the Constitution, Americans and America;

        yep, that is she, Needs To Be Committed, to a tee.

  16. Looks like Turley is setting himself up with a “well we have to cut SSI and Medicaid it’s the only way” article.

    1. What’s wrong with saying that it’s time the wealthy pay their fair share of taxes to lower the debt?

      1. Try defining ‘wealthy’ and ‘fair share’.

        Why not just attempt to define as best you can optimal levels of government spending, optimal modes of taxation, and let the chips fall where they may? “The wealthy must pay their fair share” or “The corporations must pay their fair share” is rhetorical gamesmanship, always and everywhere.

      2. Since Reagan, the GOP has had one consistent principle and one only – lower taxes on their base – the wealthy – and use the resulting deficits to squeeze other federal obligations and programs. The resulting growing inequality, which includes wages not keeping up with productivity and the accumulation of our total national wealth in the hands of fewer and fewer people is no accident. Effective tax rates for the upper brackets are no where close to our “golden age” after WWII, and corporations paying low to no taxes a growing phenomena. They fund “think tanks” to give a patina of theory and philosophy over this class warfare – including inventing that term and pretending they are the victims of it – and some poor schmucks like TIA, actually believe it. Can’t wait to find more to lap up. Others like Kurtz think Trump – the guy who got a bigger corporate tax cut than anyone imagined through as well as protecting “pass through” income – is actually on the little guys side. You know, the ones who mow the lawn at Mara Lago without any health care and who will be helping to pay off the $1 trillion that tax deal hung on the budget.

        1. Since Reagan, the GOP has had one consistent principle and one only – lower taxes on their base – the wealthy – and use the resulting deficits to squeeze other federal obligations and programs.

          This is a fantasy, of course. The terminal tax rate has fluctuated up and down since 1984. The Democrats are inclined to raise it, the Republicans to lower it, but it’s been at around 34% +/- 6% the whole time. Over the period running from 1953 to 1970, the Congress staged a retreat on absurd terminal rates, rates which Bradford deLong will admit were suboptimally excessive. Reagan’s accomplishment was to persuade Congress to reduce them to satisfactory levels and render the tax base less of a swiss cheese. Needs more work.

          Of course, the one thing that’s properly considered an obligation is interest on the public debt. Keep in mind, Gainesville’s an advocate of promiscuous federal borrowing, which means, ceteris peribus, more interest drain. Other things which have the properties of an obligation are Social Security, Medicare, and unemployment compensation, none of which are financed out of general revenues. Payroll tax holidays have been instituted recently, but cuts in payroll taxes have never been a GOP staple. Veterans benefits and Medicaid financing of nursing home care might be considered obligations of a sort, but you’d have to scrounge to find examples of GOP representatives ‘squeezing’ these, much less doing it for kicks as you imply. As for SSI, disability programs routinely have problems with mission creep.

        2. Jack Dorsey just dropped $10 million to finance an endowed chair for Ibram X Kendi (betwixt and between scheming to deplatform the Babylon Bee. Yeah, the GOP is the party of the wealthy.

        3. The wealthiest group of people in America, and the world are Leftist. That blows a mile wide hole in your theory that repukes are giving themselves tax breaks. Read a book, instead of a blog.

      3. There is no such thing as a fair share, as all governments are illegitimate and criminal. The state has no money, as it produces nothing. What it does distribute is money it has obtained through extortion – euphemistically referred to as taxation.

        1. crack pot

          Hey, there’s another one around here Carl. John Say. Look for him.

          1. Carl, soon love will be celebrated by all Americans in all forms and colors. Get on board

      4. What’s wrong with saying that it’s time the wealthy pay their fair share of taxes to lower the debt?

        Nothing’s wrong with it if you can define what’s fair. When you purchase a product online or at a store, do you pay more than the invoice amount? When you receive a bill at your home, do you pay the amount due, or even more than due, without careful scrutiny on what you’re paying for? How do you calculate one’s fair share of taxes without a discussion and understanding of what the bill is for? As DSS asked, what federal government spending is necessary and/or constitutional?

    2. “We will have to cut…”

      the entire unconstitutional America welfare state including, but not limited to, affirmative action, quotas, welfare, food stamps, rent control, social services, forced busing, minimum wage, utility subsidies, WIC, TANF, HAMP, HARP, TARP, Agriculture, Commerce, Education, Labor, Energy, Obamacare, Social Security, Social Security Disability, Social Security Supplemental Income, Medicare, Medicaid, “Fair Housing” laws, “Non-Discrimination” laws, etc.

      Article 1, Section 8: Congress has the power to tax only for “…general Welfare…,” and to regulate only money, commerce and land and naval Forces.

      5th Amendment: Congress has absolutely no power to “…claim or exercise dominion over…” private property.

      American individuals are provided maximal freedom while government is severely limited and restricted to merely providing security and infrastructure in order to facilitate the maximal freedom of individuals.

      You can’t handle the truth.

      You can’t grasp the breadth and scope of American freedom.

      Parasites live to feed on and kill hosts.

  17. “On the Republican side, President Trump has shown little restraint in spending throughout his term while cutting revenue (and borrowing at a record rate).”

    For fiscal conservatives, that was always one of the dangers of electing Trump. Fortunately the democrats chose to go completely unhinged instead of working with him – because he certainly would have worked with them on many things, and we’d not only be even deeper in the hole financially, but he would have alienated enough people that creepy-slow-qui-pro-quo-Joe would be a shoe in for his white guilt handover of government to Kamala the chameleon.

    1. Did you include the payoffs to the fascist sociaist regressive left>

      1. Socialist that spelling was not a new way to spell Marxist Leninist.

    2. Turley is wrong. There has been no “cut in revenue.” Despite the Democrats non-stop demagoguery of the cut in tax rates, the fact is that in every fiscal year during Trump’s presidency the government has confiscated more from taxpayers than it did in the previous year.

      In the last full fiscal year for which data is available, the government confiscated $3.46 TRILLION from taxpayers. That’s more than any government has confiscated from its citizens in the history of the universe.

      Prior to the Wuhan virus, in February the Council of Economic Advisers were projecting the government would confiscate $3.7 TRILLION from taxpayers in the current fiscal year. That won’t happen now, obviously.

  18. How about noting that, under Obama, the deficit was going down in the last several years of his term. This was thanks to sound fiscal management by Obama.

    Under Trump, sound fiscal management has gone out the window. There is the notion that tax cuts for the rich pay for themselves. Then he just keeps seeking more wall money. He is proud every time he seeks and gets increases in military spending. This isn’t Congress spending anything without the President’s okay. The only deals Trump knows how to make is how to spend more of our money on stuff while cutting taxes. That inevitably leads to a huge deficit. It is up to the President to figure out a way to balance things.

    Politicians are not the problem. Trump is. There is no plan to cut the deficit. There is no health care plan. There is no Covid plan. He has no plan to solve any problems in this country – only to blame others (with Turkey’s help) when those problems are made worse on his watch.

    1. You might try learning that fiscal policy is made by Congress. And you’re not going to convince anyone with a memory that Obama was anything but an impediment to reductions in public sector borrowing.

      1. Facts are facts. The president typically leads Congress and of course must sign any legislation they pass. I missed Trump having his veto of a budget overridden, but TIA can link us to that. In the meantime, the deficit under Obama was in steady decline until a slight uptick in 2016. Since Trump it has gone up and up and up and up.

        1. The uptick was after Trump was elected and before he took office and had nothing to do with Comrade Obama.

        2. I missed Trump having his veto of a budget overridden, but TIA can link us to that.

          They send him omnibus continuing resolutions and the media act as press agents for the Democratic National Committee during any government shutdown.

          As always with you, no one can figure out if you’re an idiot or you’re so grossly arrogant you think everyone else is.

    2. Bull! ALL i remember is the buying power of the dollar went down thirty percent and COLA was zero point two in a direct attack on the working class and the elderly. It only went up when Trump was elected and then doubled after he got in office. Where it remains today What did the Obama No Nomics provide? Government Economics another name for Fascist Economics and a fat raise for Barak. That name’s true meaning is The Destroyer and it proved 100 percent accurate.

      Moat of the problem this time around has come specifically from Benita Piglosillyni and her socialist fascist party.

    3. No it wasn’t any hint of that was wiped out by the devauation of the dollar. The cycle of economic repression is borrow, inflate, devalue and repudiate the debt. Which they did by taking it out of the hides of the workingi class and the elderly with a 30%; loss on their retirement and a zero point two COLA.

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