Also, Democrats, CNN, MSNBC, NYT, will you please educate Joe Public that the Debt is NOT the same thing as the deficit, it is NOT like your household debt, it is an artificial concept that naturally increases every year if only because of inflation, and may actually reflect good stuff like economic activity. It is NOT "something we have to get down, because we can't just keep letting it go up." Yes, it is something we can just keep letting go up. It's been going up steadily for 250 years. Other countries don't worry about it. What makes America so special?
Stop this Republican blackmail once and for all. See you in court.
Your assumptions about "the media" are wrong. I know. I was the media throughout my career in newspapers and TV. The exact opposite of what you say is true. Most journalists I have encountered want people to have more and deeper insights.
While the shorthand some broadcasters use is slipping into bothsidesism, not everybody is guilty. I do agree that the press needs now to emphasize that this is an entirely artificial crisis cooked up by Republican extremists. It is Congress's job to see to it that the US government pays its bills, pure and simple. This business of trying to dismantle previous Congress's work through hostage negotiations is frankly in violation of their constitutional duties.
I stand corrected. That was a comment made out of frustration with the kind of casual coverage we get on most of the internet stations. I read a lot and follow some of the finest journalists. I apologize to so many.
I think the circular coverage of issues that are meant to distract rather than to inform has me going in circles.
I will concede that there are media that will inform their public as best as they can, especially ones publishing their news in written form. But that already excludes those people who aren't willing to invest the time and effort to read those articles.
Especially TV news programs stick to the easy way of 'informing' their audience in the way I described above. And that means large parts of the electorate is kept uneducated, and the journalists working there mostly will be aware of that but can't improve the situation because they have to stick to their program's doctrine of both sides of lose their jobs.
It's not Fox News that keeps Republican hopes alive, it's media like NBC and CNN that are giving their viewers euphemistic views of the situation.
It's not the journalists! It's the media owners, and the overwhelming majority of mass media is corporate. Towing the corporate line, or you're out the door. Most workers cannot afford to resign in protest.
Most media companies leave the news judgments to the newsroom staff. Other than the obvious example of Fox News, which is not a typical news operation, I can't think of any cases where this corporate line you speak of actually controls editorial content. Feel free to give some specific examples.
I agree, the average "pretty face" pundit (especially those on weasel news) isn't smart enough to comprehend any of this. They love "both siderism" because it's easy, cheap, and requires no research. The average pundit is the perfect example of the "idle rich."
"The media" consists of individual human beings, most of whom are pretty free to say what they want. But like most humans, they have a herd instinct and mostly write or broadcast variations on what their colleagues are saying.
The network of ordinary citizens that I represent (www.FeathersOfHope.net) has been trying to break through the fog for 5 months now, suggesting that they at least talk about one very plausible solution to MAGA dominance in the House of Representatives:
We have known since Kevin McCarthy became Speaker that he had promised MAGA extremists to initiate this "debt limit crisis." And we have known since then that ultimately, a bipartisan majority will have to form to pass a bill that can pass in the Senate.
When that happens, the same majority needs to also pass a motion to vacate the Chair and elect a moderate Republican Speaker who owes nothing to the MAGA minority. Doing this will isolate and marginalize the MAGA minority and probable avoid a government shutdown in the Fall as well.
I know all the arguments for and against this proposal. My point here is that no one in media is even talking about it despite our many attempts to get their attention. Even Professor Reich has not mentioned it since he suggested the same thing during the marathon balloting that brought us Speaker McCarthy back in January.
I've personally written to Dr. Reich 3 times asking that he devote a post on this site discussing this proposal. (Prof. Reich endorsed Rep. Dave Joyce of Ohio as a good candidate for Speaker.)
If any of you would like to do something and not just talk about it, join us! At https://www.FeathersOfHope.net or at www.JerryWeiss.substack.com you can learn more, and also find contact info for media personalities and for 17 House Members we're trying to influence.
This isn't about Dave Joyce particularly. He was just Robert Reich's choice. Personally, I'd prefer Brian Fitzpatrick (R-PA) or Don Bacon (R-NB). But that's not the point.
The point is the proposal itself. Our network is contacting Democratic leaders and moderate Republicans, as well as media personalities, for the purpose of initiating consideration and discussion of replacing Kevin McCarthy with someone who isn't indebted to the MAGA extremists.
So long as McCarthy is Speaker we're going to have a continuing series of "crises" brought on by the farthest right segment of the Republican Party. They need to have a loss, and replacing McCarthy would be a big one.
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For those who believe that there are no moderate Republicans in the House, please read my posts here:
Thanks so much for making this point! So few people (even leaders) seem to understand how our debt-based currency system works (granted, it is pretty counter-intuitive), so they can be hoodwinked by those who don't have their best interests at heart. As you point out, federal debt is essentially the nation's money supply. Reduce federal debt and there will be less money in circulation.
The key issue is not the sheer level of federal debt but rather what it is being spent on. Is it fueling productivity and meeting the real needs of the country or is it primarily further enriching the already rich?
Excellent point. Democrats use debt to invest in the country, whether in people, technology or infrastructure. The majority of Republicans seem to think debt is best created to make up for unsustainable tax cuts that mostly enrich the already wealthy.
I think of it like someone using a home equity loan or line of credit. They can either use the borrowed funds to make improvements on the home that secured the borrowing and build equity, or take the proceeds to go wine and dine with flashy friends. Republican tax cut funding always smells like the latter to me.
Check out Professor Eichengreen's book: the reason Italy & Japan don't have to worry about running 120%+ debt-to-GDP ratios is because the holders of their government bonds are domestic; the same cannot be said of America's debt because - as a reserve currency - USD facilitates international trade settlement the world over (and is used as a peg by 60+ countries!). A 90% debt-to-GDP ratio is considered an inflection point; at 130%+ the country's fiscal position can *only* be positively affected by inflation (our debt service becomes interest-only).
Yes, stop the partisan blackmail - once and for all... but President Joe Public is not as ignorant as the {Catholic Church, Deep State, etc. etc.} would make him out to be.
Krugman has a recent NYT article on this that you might look at. While it's true that the US dollar is the world's reserve currency - which sounds impressive - it's not clear that this is of great importance to the US economy. Krugman has some technical reasons, but the prime historical example is of the pound sterling being the world's reserve currency for 150 years, before the US dollar took over. There was no change in the overall British economy, yes there was some post-WWII stagnation, and yes the Brits have recently shot themselves in the foot with Brexit - but that has nothing to do with loss of the pound as reserve currency. Until 10 years ago, and the rise of Conservative austerity and Brexit, this small country was the world's 5th largest economy.
BTW, it may not matter *that* much - but the last two decades suggest two different (almost opposite) consequences, i.e. a weak dollar & globalization in the 2000's and then a strong dollar & retranchment in the 2010's; the fact that the face of the world was remade in the image of America in the second half of the 20th Century suggests America's reserve currency status is *immensely* important, albeit not from an economic perspective. (Indeed, that is the only reason Republicans would be interested in it, i.e. holding it hostage, threatening it, and - ultimately - damaging it; ask anyone not in the "moral majority" - that is their playbook.)
Thank you for the comment. I would put it a little differently. The US dollar is the world's reserve currency BECAUSE the US remade the world after WWII, not the other way round. I do recommend Krugman, he's quite revealing.
BTW, the Republican idiots who use reserve currency threats as a club, in order to extract concessions on taxes for the wealthy, are ruining America. I agree with the President and with Dr. Reich, just call their f****ng bluff!
If it takes minting a $2trillion coin (see Krugman again) just do it and watch their heads explode.
True that the debt it not the deficit and that both debt and deficit can be good if they are investments. It’s also true we can print more money, though there are downsides to doing that at a certain point. There are constraints to how far you can go before the system collapses. We have a stronger economy and our currency is relied on as a reserve currency giving us a lot more latitude to borrow than other countries, but eventually there will be a debt to GDP ratio that will undermine our economy and the world if the world doesn’t switch to other currencies first.
Inflation is double edged when it comes to debt. It makes debt smaller in real terms rather than making debt grow as you claimed. But inflation can also undermine the economy and thus make it harder to repay the debt causing interest rates to go up.
The Republicans are a mixed bag of not knowing and not truly caring about the deficit and debt, only using it as a political cudgel. And as I said we have a fair bit of latitude with running up a large(r) debt, but that doesn’t mean the debt doesn’t matter and we should just ignore it.
It was Keynes's brilliant insight that running up a deficit at a time of economic crisis, by printing money, is a good thing. As he put it, the time to pay down the deficit is when the economy is up and running again, not when it is still in the doldrums. It took a century to learn this lesson, and the Europeans have learned it particularly slowly. As advocates of "austerity" they are only just now beginning to change. Nevertheless, I agree that although the deficit is elastic, paid down it must be, and sooner than later. Republicans understand this, and typically run up the deficit during their tenure, waiting for the Democrats to (responsibly) pay it down. Now that Biden has been (responsibly) increasing the deficit to deal with the Covid-induced economic challenges, the GOP is piling on.
This nonsense is made possible only by the general lack of education of Joe Public, for which the media must take a large part of the blame.
As for "The Debt'" well it's largely bullshit. It always goes up, if only because of inflation, but it is NOT a sign of economic catastrophe, nor is it a sign of weakness. It is not widely known that the British National Debt ran 150% of GDP throughout the 19th century, at the peak of national wealth and power, yet the Victorians were very fastidious about maintaining zero deficit.
Bottom line, "National Debt" is a boogeyman used by the GOP to frighten people. Sad thing is, Obama actually gave in to it ten years ago, and they have been pulling this bullshit ever since.
I don’t understand why you keep saying the debt goes up because of inflation. Under what conditions and what mechanism are you assuming this?
I agree Keynes was right and that deficit spending is good to prop up a suffering economy as a general rule. I also don’t think that you need to pay off the debt in absolute terms. In fact the reason you don’t have to pay off your debt in absolute terms is because of inflation and growth. If you’ve invested your borrowing wisely, or at least not idiotically, your growth and inflation combined will make the debt look much smaller in real terms (purchasing power). You would continue to borrow, sustaining your debt, in order to make further investments.
The issue is at what point your economy’s baseline gets poor enough and your debt large enough that investors and consumers start to lose trust in your economy and ability to repay debt over time. I think that debt may be as much or more an indicator of future failure than a direct cause. It shows some combination of irresponsible spending or irresponsible taxation. In our case I think it’s a bit of the former and a lot of the latter. Essentially we are borrowing instead of taxing which means more of our borrowing goes to paying interest than into actual investments which would increase both GDP and the overall welfare of the nation.
I think paying down the debt should be considered as a proportion of GDP via smaller relative deficits, but using appropriate taxation, and specifically when the economy is in a healthy state. What the Republicans are doing is stupid at best, transparently hypocritical, and intentionally destructive at worst.
"I don’t understand why you keep saying the debt goes up because of inflation."
The debt goes up for a number of reasons, including inflation. The debt is linked to GDP, goes up with GDP, and since a portion of the increase in GDP is inflation, it follows that, since a little bit of inflation is always there, the debt keeps increasing. It's really a bullshit concept, not at all like the deficit, which is real, and, despite what Dick Cheney says, is actually important.
We talk about our debt as a percentage of GDP because it is a useful measure for comparison. It tells us something about our government’s ability to repay or at least manage the debt because the government can tax some portion of that GDP each year to pay down the debt.
We do tend to borrow more as GDP goes up because we generally want to spend more. In that way inflation indirectly increases the debt, but that is a choice we (or our representatives) make actively. Debt does not passively increase due to inflation. Again, it is actually the case that inflation reduces the relative size of debt, all else being equal.
Todd: Agree with your first statement, disagree with most of the rest.
Debt is related, just like GDP, to economic activity. People go into debt to purchase stuff. If the price of stuff goes up, in part due to inflation, then debt will go up, in part due to inflation. I am NOT saying that inflation causes debt, any more than I am saying inflation causes GDP growth. What I am saying is that, given that inflation is inexorable, its contribution to the debt is inexorable, therefore debt will always go up. It's just not a big deal.
It has been going up since the beginning of the nation, but hardly steadily. It has exploded since 1980. Of course that is when the GOP started the massive tax cutting.
Just heard a dialogue on The Daily (NYT podcast) where the two participants totally conflated the debt ceiling and budget. I lodged a complaint on that site. I also sent this letter to my representatives and senators, as well as to Chuck Schumer.
Debt in itself is not necessarly bad, but too much debt can become unsustainable. Money left in my pocket does more for me than money sent to the government. There are programs and projects that promote the public good, however, there is a difference between needs and wants. Debt must be serviced and that means that more money is used to service the cebt and less money is available for necessary programs It is not desirable in the long run to have a nanny state.
I think you're confusing national debt and national deficit. Deficits are the difference between what the government takes in in the form of taxes, and what it spends. Everyone who does not belong to the GOP believes that deficits cannot be maintained.
The debt is altogether different, is an artificial concept that has more to do with "indebtedness." For example, you buy a house and you get a loan (mortgage) from a US bank. Despite the fact that all the money remains in the US, nevertheless the national debt goes up. Yet it's a good thing! Same if you want to borrow money to build a factory. It's a good thing that contributes to the GDP, yet the national debt goes up.
The Debt is a concept which should probably be retired. Other rich countries do not have the concept. It is useful only for GOP politicians to play games with peoples' heads.
Seems like you’re not really paying attention. Debt has soared under R presidents since Reagan, and decreased under D presidents including Biden. The investments the last Congress made in infrastructure, bringing manufacturing back, reducing drug costs, investing in families, etc. are necessary for a stronger future. Private capital can never accomplish these things.
The US debt increased in 2021 and 2022, although as a % of GDP there was some decline. I believe the US debt is a problem though how big a problem depends upon one's interpretation of tangibles and intangibles . The issue is what the government does about it and when in terms of policy choices on revenues and spending. The spending of the Biden administration I mostly agree with as national needs have been neglected for decades. The need to spend quickly for covid has come at some cost of fraud and waste however.That's just the way it is. As far as Biden and the GOP, it's hard to recommend negotiation with fanatics at any time, esp. prior to what has to be done.
YT is full of this…posting the exact same cut and paste nonsense while claiming to be a Dem or an Independent. The lack of original thought exposes their stupidity for thinking they’re ‘owning’ anybody. Like no one can see through their crap for what it is.
Neither of your statements are true. Spending on the middle class is what you and your fellow Republicans are against. Who will you feel superior to, then, right? The trickle down lie of giving it all to the wealthy has been exposed for the con it is. Sorry, Janet, you’re the loser, and you picked the wrong site to troll. The subscribers here are way smarter than you’ll ever be.
How do you get that notion?Democratic policy is very much opposed to Chinese policy in general. On the other hand, many Republicans, including their leader, Benedict Donald, are beholden to Putin, & republofascist policy is virtually indistinguishable from russofascist policy.
Oh Janet, I suspect you are not a member of anything. As a computer construct, you repeat what you are given to say, picking out phrases here and there to throw out. They don't have to make sense because computer generated stuff does not have to. It's entertaining anyway.
Actually, regardless of its source, this entity is taking away our energy that should be used for other purposes. (It's wasting our time.) WE ALL SHOULD LEAVE IT COLD WITH NO RESPONSE WHATSOEVER, OTHERWISE, IT'S TAKING US OFF POINT, DOWN A RABBIT HOLE. TURN YOUR BACK ON IT AND NEVER RESPOND. LET'S SEE HOW LONG IT HANGS AROUND, WITH OUR BEING 100 PERCENT COLD SHOULDER. (So don't carry on.)
The fact that Trump ran us into more debt should be discussed more by editorials as well as TV. The public must b informed that the debt they are refusing to pay is the result of Trump’s indiscriminate spending. Not by current administration. And Reich is right . Let then hang them selves. Don’t all those who would by hurt most by their proposed budget vote. I like this recommendation very much. Ignore .
Oh Daniel, "Janet" can't follow up on any resources you present, but it will be helpful to a real person on this thread who is not sure of the real cause of a quarter of our debt being due to spending and tax cuts for the rich by the Trump administration. Thanks.
Well Trump is gone and I have not seen anything better from Biden. Hopefully there maybe a Kennedy. My parents and their friends would be all over that one. I would like to see someone fresh, and new.
Oh your right everything is Trumps fault ! At least his children are not showering and with their Father like the Biden Children and their drug addiction just like their father Joe.
Much more so because of loss of revenue due to Republican slashing of taxes for corporations & billionaires, with no resulting benefit to the economy nor to the lives of the vast majority of Americans.
Yo Janet, you need to be on a middle school thread where the kids will maybe believe your nonsense or even figure out this is a computer-generated something and have fun commenting back to your childish nonsense. I work with middle schoolers, so know their humor. They may find you funny. Or, maybe they won't, just uninformed.
Democrats voted with Republicans three times to raise the debt ceiling under Trump who oversaw 8 trillion increase in the debt. Yes, blame the Democrats.
I think you are lying about the Trump tax cuts because unless you are in the top 1% of earners, they hurt. If you live in a state with an income tax, you can't write them off!!!!
And in those 4 years incurred 25% of all debt throughout US history. That's over 16 times the average rate for presidential administrations. Talk about profligate spending!
Jaime, good information. Alas, trolls and computer-generated botts can't learn more than their master/operator wants them to, and this one prides itself on ignorance.
Ruth, I like to take advantage of the opportunity bots & trolls give us to correct the misinformation they leave. I'm a believer in truth eventually prevailing over lies, & right over wrong. Sometimes it takes quite a while though.
I saw what the bot said to you—crushing! I think it's coming from China, but here I am, talking about it and letting it take up the 47 seconds I needed to write to you. But writing to Ruth is not about wasting time. I'm on a self-imposed mission to get rid of what's-her-name. It's ultimately degrading to the Reich experience. We all need to stop talking about it or reacting to it, freeze it out so maybe that'll make it go away. Keep writing, Ruth. —Sandy B
Probably. However I am 92 and just coming out of a stoke where my arm and hand were paralyzed. My judgment isn’t affected but I do make errors . Thanks.
Oh Janet! You certainly do pay attention! Trump whined the same nonsense nearly nonstop for 4 years. Maybe for Republicans that is lucid, but for the rest of us, that is something far less, maybe ignorance, incompetence, lack of interest, an ego that is far too large for the person wearing it, or maybe, just that Trump wants only attention, like a 3-year-old. He is continuing the practice as he plans to run again. I guess his base likes ignorance and incompetence, so they will vote for Trump again, then find a way to blame Democrats for their poor financial and health situations. Brilliant, I must say.
All I see is time after time Republicans soaring the deficit with reckless slashing of taxes for corporations and billionaires & Democrats having to clean it up every time.
We were generally going fine with the debt until Reagan tripled it & Bush nearly doubled it. Clinton managed to create the only budget surplus in many decades which Bush Jr promptly erased with new record deficits by slashing taxes on corporations & billionaires thereby giving us 2 recessions, including the Great Recession, which Obama had to clean up, ending his administration with a robust economy that Trump sabotaged by signing the foolish Republican Wealthcare Plan, & in just 4 short years (they seemed much longer than they were), he was responsible for 1/4 of all debt incurred throughout history. Biden has remarkably brought the deficit down to a fraction of that while cutting unemployment to its lowest levels in half a century.
Jaime, that was well-said. There is so much evidence that it is the supposed fiscal conservative Republicans who over and over again push the debt up to outrageous levels while the "tax and spend" Democrats bring things into some kind of order afterwards, but rarely have enough time to really do the job as the American people have short memories and vote the Republicans back into office before things are working well. The people who vote for Republicans have no clue what is really going on since they are so focused on their own little spot and watch only programs that tell them their Republican friends are the ones doing what is best for them. They lie, of course, but the base is so wrapped up in their beliefs about who is causing the trouble, they can't even begin to see the truth, and that is just the way Republican leaders and their media friends like it. That way, rich people and corporations can get richer while only Democrats and a few independents are fussing about it, and those folks can be ignored by Republican voters. We can see that by the quality of Republicans currently in Congress. Unlike sometimes in the past, when there were caring, curious, interested Republicans serving, now, one would be hard-put to find more than a handful that fit that description. We all pay for that poor quality of representatives and senators serving the Republican party.
I see this, also, and I see you don't need to be told to "keep writing". I'm new to chat rooms, and didn't realize that today's experience is with a "troll", although, of course I know that trolls are undesirable. I want to offer encouragement to what you wrote directly above. Congress is as bad as you or I have ever seen it in OUR lifetimes, but think back in history and take note of numerous mini-eras, when representatives and senators were banal, selfish, and unable to govern well. When you look at the whole of our brief history, messy government has been the norm. Once or twice in a few generations, we'll see a high point of our history, and talk about that throughout the coming generations. When we look at "average" days in Washington DC, things move along slowly, and every day is mostly normal, with mediocrity entrenched, and boredom that rules the day. I'm sorry to describe it this way, but let me add, "Blessed are those who do the work."
I have huge faith in our Constitution, and I'm more worried about today than I recall worrying in the 1970s, AND with all that, I have faith that I'm part of a majority that supports the Constitution (which has been hobbled together to work like a Chinese block puzzle).
Sandra, good insights. It is true that Congress was often a shambles with members attacking each other. Things have improved in the past century or so. We have experienced bad behavior like HUAC (House Unamerican Activities Committee), a boys' club of scared children needing to blame someone and find people who were anti-American to hunt down when they, themselves were as unamerican in their actions as anyone they "found." The manufactured divisions in our nation cannot be mended unless members of Congress start demanding more of each other. The Democrats on House committees have been doing that a bit to Republican members who are putting out lies and being just plain rude or ignorant when questioning witnesses. I get it that conservative white men are scared they will not be able to control everything forever as they have since the beginning of our nation. Eventually, there will be too few of them and most people will come to see just how childish and inappropriate their behavior is for members of Congress. We are not there yet, but I see the beginnings. Now, if the people out in the nation could see that the people they vote for matter. If they elect a jerk, they will get nothing that will make their lives better (of either party). If they elect someone who only spews hatred, blaming, fear, and anger, it is a guarantee they will also get nothing. If they vote for someone rich who has never demonstrated an interest in sharing what he has, they will get nothing in return except whining and complaining from their representatives. In short, how do we help share with folks that angry, fearful, hateful, selfish people do not care or share, so stop voting for them, even if they have an "R" behind their name. The "R" rarely means help for anyone these days except for rich mostly white people and corporations. Skip the rest of the country, you know, the ones who work to keep things going in the nation.
You have it wrong. The pattern has been, when a Republican administration is in the White House the nation's debt goes way up and when a Democrat president is in office, the debt decreases. As to this inflation it has more to do with the impact of Covid, causing supply chain problems, and labor shortages. It is a worldwide phenomenon, having more to do with the global economy.
The DEFICIT decreases under Democratic administrations. The DEBT continues to increase, albeit by a much lower pace, the one exception being the end of Clinton's administration.
Literally: YOU NEED TO SPEND MONEY TO MAKE MONEY. INVESTING in things like infastruction MAKES money.
Counterpoint: Have you ever seen a Republican, now Trumplican, that didn't throw ALL OUR MONEY at obsolete fossil fuel billionaires even though they DON'T PAY TAXES and KILL US ALL?
So you haven't read anything else Robert Reich has ever written, apparently, or you would understand what actually caused inflation. And getting money to the people who actually need it instead of greed it, like Republicans seem to do constantly, actually helps the economy instead of stifling it by keeping most money out of most hands. Spending is good. Hording is bad. Circulating money is good, nothing moving, bad.
Janet, comments like urs sound like a Repub throwing out red herring comments without any evidence to support them! Better check ur history books before sounding off like tRump always did!!
You are so wrong! Democrats didn't cause it. Reversing 40 years of Republican tax cuts would also address financial shortfalls, but that approach does not fit the Republican narrative that cutting taxes promotes growth and raises revenue.Biden has rejected the trickle-down economics of the Republicans, which is based in the idea that moving capital upward will prompt investment in the economy and help everyone. In its place he has revived the older idea that investing in ordinary Americans and infrastructure creates widespread prosperity. His plan is a reversal of 40 years of economic policy, and we need to pay attention to it.
OMG! Ah Janet, this is not a middle school thread. Such insults are not worthy of caring intelligent adults for whom this nation and its future matter. Even trolls could grow up if they chose.
Hi Ruth, do what you can to persuade us all to ignore Janet Shaw. I've already faltered and won't do it again. All of us should just turn our backs and fall silent, and block "them", however they choose to present.
Sandra, I must admit I get a kick out of the "trolls" or "botts" that enter this thread sometimes. I try not to directly insult the person/bott, but try to let them know they have been tagged and whatever they say will most likely be ignored or jeered at because it is so ridiculous. Sometimes, it is just fun to interact with them when so much of what we read is not fun or funny.
Janet is a Russian troll dude posing as an old horny Republican. You know the type, Trumpelstiltskin & Pekingese Putin along with the rest of Republicans who are notorious for stealing children and sneaking into the wrong locker rooms. Hiding in wait for the under age female students to shower. Ignore him! Russians have started their lies and spreading chaos early this year.
Wow! computer generated BS can really get nasty! I can't believe you have a piece on this thread. What could you possibly have to generate that anyone would benefit from reading? My vote, nothing, but just keep on saying it and demonstrate that I am right.
My concern is how do the financial markets react to Biden ignoring the debt ceiling (which by the way, I think should be repealed) with the inevitable court battle? Will the courts side with Biden? Will Treasury payments made be nullified? Investors and markets hate uncertainty. A stock market crash, turmoil in the bond market, an increased interest rate on Treasury bills/bonds are all possible. The chance of a deep recession may grow. We need to be prepared for these consequences. Can't assume no negative effects will happen.
I think (personal opinion) that the financial markets will not only accept Biden ignoring the debt ceiling, but be scared to death of the Republicans destroying the economy. All the markets want is profits and stability, not chaos.
I totally agree with your last sentence. IMHO, if the courts side with Biden, the financial markets will go along and the effect will be muted. It will be the desired death knell for the debt ceiling. But if the courts side with the Republicans, chaos will ensue. Hold on to your hat! I wish I could be confident that the lower courts and SCOTUS will do the right thing!
The markets are not rationally motivated. You can’t live in fear of what they might do. The US Constitution is clear what the law says. No need for hysterics.
Mark Zandi at MOODY Analytics posits that in that situation he expects to be a short term drop in markets as uncertainty over the possibility of the courts overturning the payouts but long term good move. Anything is better than default or even the hint of it.
Thank you Professor. Article 6, Section 1, says essentially the same thing. Amendment 14 section 4 reinforces it. The debt ceiling is as Unconstitutional today as it was in 1917. The only option for the current House of Representatives is to refuse to pass any NEW legislation that would add to that debt. They can not, by Constitutional Law, prevent the Federal Government from paying debts already incurred. This is one of the many reasons for we, as citizens and voters, MUST demand that all persons elected or appointed to public office at any level MUST read and comprehend the Constitution. It is unfortunate the Framers assumed that anyone seeking public office would, of course, read and know the Constitution. They would never understand the utter stupidity of today's maggots.
Fay, Regrettably, and this concerns me, the Constitution does not preclude attaching conditions to raising the debt limit, providing the bills are paid.
Are you using a Trump argument that if the Constitution does not say you cannot do something, do it? I thank professor Reich for reminding me of Federalist Paper #30 which explains why it is imperative for the US to pay it's debts and have good credit, national security being one good reason. It was a good reread.
Gloria, Considering I simply am assuming the role of jurist (particularly the 6 SCOTUS, dare I say, textualists) whose task is to interpret the Constitution, I fail to understand why you would equate my concern with “a Trump argument.”
Because the debt limit of 1917 was not a Constitutional amendment, isn't the question whether it is constitutional be addressed before discussing whether conditions can be attached? I'm a retired nurse. This isn't my area of expertise. I want to understand.
Gloria, You raise a critically important issue. Though I am not an attorney, I imagine one could argue that the debt limit is unconstitutional under the Fourteenth Amendment.
I said it was a Trump argument because he frequently used that argument to justify questionable actions and many are familiar with that. I didn't mean to insult you. I apologize.
Gloria, I appreciate the apology and wish to clarify my purpose in posting was to ensure we consider every possible contingency as the debt ceiling controversy largely consumes our politics.
IMHO they are 3 things that need to have immediate attention: eliminate the debt ceiling misnomer, Citizens United, & the Electoral College! Wouldn’t life be more pleasant without these 3 headaches interfering in the governing process!! I know where the misnomer Citizens United came from but not when or how the other 2 came about. Can anybody enlighten me?
YES!, YES!, YES! As both a legal and a practical matter, "we" Democrats, Progressives, and the few remaining sane Republicans MUST INSIST that we follow the Constitution. The House and Senate GOP will not cooperate anyway. Thank you, Professor and Secretary Reich for unequivocally supporting this avenue of response to the GOP. Actually, President Biden should never have asked for their permission in the first place.
President Biden didn't ask their permission. Joe Biden has read, and comprehends the Constitution at least as well as I. It is the retrumplican maggots that need to read it. Actually it is the whole GOP that needs to read and comprehend ALL of the Constitution - some of the justices on the Supreme Court could use a refresher course too.
Jaime, you are right about Republicans not wanting to follow the parts of the Constitution they don't like. The Supreme Court conservatives have proven they ignore it whenever they think they can get away with it, and they get away with it a lot since they are the highest court in the land. However, lately states seem to be ignoring federal law and the SC when they restrict all kinds of rights that are in our Constitution, voting, for example, going beyond what the SC actually permitted. Maybe Democrats, and President Biden in particular, should start showing the American people how Democrats are actually following the Constitution. A set of public service announcements could help with this. There are a lot of talented people who could translate the complexities into language ordinary, not extremely political people could comprehend and use when claiming their rights as citizens.
Thank you, Fay. One guesses we can always print more Benjamin Franklin notes. Yes, I agree with everyone. If this goes south, we will marry a disaster, not just court it. What worries me is that the bigger picture is missing here. Surely there must be a price to pay somewhere someday to cope with the situation. Excuse my ignorance. For millions of US Citizens, including myself, if we keep borrowing, we eventually go bust and then suffer the consequences of that effect. I’d love it if one or more of the comments in today’s message would educate me and write a comment on how this faux ceiling keeps playing energizer bunny without ending or aftermath at some point, regardless of party affiliation.
I think I can venture a guess to say that a large part of this debt was caused by massively cutting the tax rate on the rich since Reagan in 1980. The solution is not to stop spending, but rather to turn on the income flow again.
Susan, In my view, you nailed it. The challenge is how to reach a largely indoctrinated public fed only on partisan information and opinion that confirm their own misguided bias.
President Biden & the federal government have the resources and clout to educate the public, although most republicans these days seem impervious to being educated--as if new information and another way of looking at a fiscal problem is a malevolent trick meant to confuse the public. Without realizing it, they’ve already been manipulated (tricked) into reacting negatively to all info perceived as coming from the political “left.”
Perhaps if various celebrities did 30 second public
information spots on tv like the old “...the more you know...” public service spots, enough people would pay attention to them to make a difference.
Susan, Indeed, your portrayal of most Republicans, regrettably, is pitch-perfect. Still, because I continue to believe that news organizations are a public trust with an ability to inform and influence the national conversation, I will persist in demanding we repeatedly hear, see, and read that raising the debt limit doesn’t give the government permission to borrow more money; it gives government permission to pay back the money, with Congress’s approval, we already borrowed.
A much more progressive tax system like we had from FDR-LBJ, with more overall revenue but lower taxes for the majority of Americans (the higher taxes on the very rich & corporations would more than make up for it), would do that.
I had a look at Michael Hutchinson, 2peter, and Henry. Their comments and others today lead me to think we’ll see the debt ceiling rise for the foreseeable future. Is that a good or bad thing, I guess we’ll all keep following Substack and see where it goes :-)
The only way to keep "debt in control" is to include the funding and source in every bill. Something some legislators are loathe to do. Refusing to pay debts already assumed is a different matter entirely. It is hard to explain because international debt is different from personal debt. It is sort of, but not exactly, like buying a car you can't afford, then not paying for it.
I respectfully disagree, Alan. In my opinion it would only be de facto if permission were necessary. Biden has repeatedly and legally said he will not negotiate. The Unconstitutional McCarthy (and previous Republicans) have "tried" to hold Congress in thrall by claiming to hold 'the debt ceiling' (which is clearly Unconstitutional - it is twice mentioned [Article 6 Section 1, and Amendment 14 Section 4]) hostage. There is NO debt ceiling, we already borrowed and are now repaying (at least on paper) what we borrowed prior to 2023. The ONLY debt the current Legislature can legally argue is future debt. Since the retrumplican maggots have failed to present a budget I don't see what they think they can argue.
Agree. This is a big nothingburger. Biden is going follow the Constitution and pay our debt. Repubs are playing chicken threatening default. Riles up the base and gets press coverage. When it comes down to it, they will cave. They won't do anything to crash the stock market and pizz off their wealthy benefactors. Junior high-level strategy.
As for the budget, Biden is ready for the fight. Here in Ohio, have seen ads for the specific programs that will disappear if Repubs get their way. The Lincoln Project is crafting some razor-sharp ads. The 12% of voters who are rabid MAGA will remain oblivious; everyone else will be satisfied with good-faith negotiation. If Repubs even think of cutting veteran services (which I've heard some are considering) they'll find it's the same as touching the third rail.
Thank you, Cheryl for your keen observation. I'm especially happy to hear what's happening in Ohio. Living in California, with only a few maggots in isolated primarily rural regions it's easy to become complacent. I agree, meddle with the VA or SSA, and they will come up against a steel wall.
Alan, is it possible President Biden is unaware of his position here in relation to our Constitution? I hope he is and within a couple of weeks, he makes the positive move to declare that our debts will be paid on schedule according to the Constitution. McCarthy would whine like the toddler he is, but the financial realm would breathe a sigh of relief, at least for a while.
Wouldn’t it be wonderful if the only major bargaining chip that the Republicans have crumbles like a rice cake when used as frisbees?
Robert has not only the perfect solution, but a wonderful way to put Republicans in their place. Much whining will fill the airwaves, but there is nothing that Republicans are trying to do that actually helps anyone without a seven figure bank account.
I say let these asshats whine and cry all they want to. President Biden needs to get tough with these insane morons and tell them that the bills were going to be paid, regardless of how many tantrums the Fascists throw. I have never seen such insanity in all my life by supposedly grown adults..Democrats are the only adults in Congress. The GQP members apparently never got past the toddler stage.
How is it then, that The White House and the Senate majority NOT KNOW THIS, and aren’t speaking of it daily, loudly, and forcefully? Banning assault weapons is a flagrant and unlawful breach of The Constitution (It’s not, of course) but tampering with America’s ability to pay our debts, another right and obligation defined by that document, is not? Is it true that “American’s get the government they deserve”??
Given the Roe v Wade decision showing their penchant for making stuff up, I lack your faith that the fake "originalists" will stick to the actual language and/or intent of The Constitution. I wish us luck!
Perry, I am concerned about the SC conservatives too. They have no trouble making things up, looking to medieval men for their justifications, and allowing states to take away citizens' rights if they just feel like it. I wish there were some way We the People could shame the conservative SC justices into doing the right thing for this nation since they don't seem to either understand or care about the real issues people face and the rights they are permitting to be undermined by rich white "straight" pseudo-Christian male legislators in the states. Those conservative justices think they won't be touched with a recession or even depression they would cause, and maybe with the millions they are raking in with gifts and activities of spouses, they may be right. That's where it is essential there is a code of ethics in place that they must follow on penalty of removal from office. It's all tied up together and is a potential mess. That's why I think Biden should step in with an executive order related to the debt ceiling and that we are obligated to pay our debts.
But the point is we really need to also deal with the ever increasing deficits, the interest paid alone to borrow to run our country each year is in the hundreds of billions of dollars. Insane.
The cuts need to come mostly from the exorbitant immoral Defense Dept budget, and more tax money collected from the exorbitantly rich, along with everyone paring back excesses. We should be expanding programs to help the struggling many, increasing healthcare coverage at lower costs and regulating obscene profits of insurers and pharmaceuticals. The Social security program needs to be maintained and funded properly.
I agree. I keep yelling at the radio while listening to NPR: Biden, stick to your guns! It’s ludicrous that the press is blaming “both sides” for the debt ceiling crisis, and repeating the MAGA’s claim that in failing to “negotiate”, Biden will be the cause of the U.S. default.
Rosie, we do seem to keep repeating the insanity of the past. Clinton dealt poorly with the Gingrich crew that wanted to essentially tear down our government. Gingrich was never clear what he actually wanted to replace it with, I'm guessing with him as president or some other such crazy idea. The poor were further villainized, Black Americans were incarcerated at many times the rate of white Americans despite the crime rates among the groups being similar, and work requirements to get financial help were put in place which did far more harm than good. We Democrats should know it is extremely difficult to negotiate with Republicans. Cruelty is their aim, particularly against people of color, women, and the LGBTQ community. Then there are the disabled and health-impaired communities that are regularly harmed by the huge raises in costs for drugs and tools for survival. Republicans have become the party of cruelty, hate, and money-grubbing. Oh yes, and ignorance too. We do need a two party system, but not one whose members prefer fascist ideas to democracy. Knocking the Debt Ceiling argument out by circumventing it with an executive order could help, at least right now. A national speech might help get the ideas across, Biden beginning the presentation, then some knowledgeable people making presentations to explain what is going on: Robert Reich, Katie Porter, Bernie Sanders, Paul Krugman, Kamala Harris, and others could talk about the economics of ignoring the needs of the people and how we all pay for that. It's an idea.
You reminded me why I thought Leslie Stahl didn't argue with Margorie Taylor Green on "60 minutes" when MTG called Biden a pedophile. Where would the conversation have gone from there?
Gloria, I think that's the point. When Greene called Biden a pedophile, her interviewer could have asked, can you explain your reference? That is a typical question interviewers, good interviewers use. Greene may have gone nowhere with it, but it would have been clear she had no clue what she was talking about and people could have seen that she can be stopped in her tracks. There are so many things Greene has said over time that could have been asked about and were not, not just the gotcha questions,but honest, we need to know what Greene has done for her constituents, what she thinks they need from her, why she feels she is up to being on the Homeland Security Committee. It seemed to me Greene ran the interview and got from it what she intended, her accusations got out into an audience broader than Fox and that ilk.
MTG would have been ready with her questionable examples to add fuel to the fire. Viewers would have thought, "hmm, I didn't know that," and in the time frame for the interview, Stahl wouldn't have time to fact check and correct her. Stahl didn't fall for that strategy and didn't follow her down the sewer.
Gloria, you may be right about Greene being able to get more of her stupidity out there, but I think Stahl could have parried successfully. Greene has her talking points, but no depth in anything I have heard from her. When statements, even ridiculous ones are left unchallenged, they can gain some gravity by being on a program like "60 Minutes." My hope is that this program will refrain from bringing on the ignorant among us to present their positions. There are at least a few Republicans who know something about something they can talk about. Greene knows nothing important about anything.
Trump has been accused of sexual abuse by dozens of women, including one who claimed he (& Jeffrey Epstein separately) raped her when she was 13 years old.
To Robert Reich's commentary: HEAR! HEAR! A thousand times over, Hear! Hear! Biden MUST stand up to these traitors who are commandeering our country in every way and, it needs to be said again, what they are doing is NOTHING that American citizens want!! They are dangerous to America and the world and are brazenly anti-American and should be treated as enemies, not as normal electeds who can engage in honest negotiations or discussions.
That said, Noam Chomsky's wise words about America being a one-party system, "The Business Party" was never more in evidence than in the decadence and debauchery of the White House Correspondents event over the weekend. The party favors should have been violins and table-top fires so the full display of "fiddling while Rome burns" could have been enacted. What a disgusting show of disregard and disrespect. For God's sake, America: wake up!
It is more like a debt oath than a debt ceiling when tied into the constitution, just as they made an oath to the constitution, they seemingly made an oath to honor the public debt. The fact they won’t honor the public debt is very dangerous and going to hurt everyone including themselves, they can’t even vote to help themselves at this point when the public debt and the budgets are two separate issues.
Keith, I have been comparing Kevvy with Charlie McCarthy for some time now. I am glad you put it out here in writing. I suspect Charlie has more brain power than our little Kevvy, though. Charlie at least has some humor to his quips. Kevvy has only smug smirks that show the whole debt ceiling issue for him is a game he thinks he can win with the most appalling and cruel cuts to programs and services which would hurt millions of Americans, even his own constituents. I am thinking our Kevvy has a lack of humanity going and cares not a wit who is hurt. I am sure Charlie McCarthy cares more than our Kevvy does.
The "Republicans" in Congress seem to be some really toxic combination of libertarian-anarchy-fascism and they must be stopped by Biden and the Democrats, if Democrats truly care.
In a somewhat real or "lets apply common sense" world I would agree with you Robert...but as of recent times, in the last many "post Reagan years" going forward, "common sense actions" to support long term quality goals has been sorely lacking, thus we are where we today.
Fact based realities have been replaced with fictional conspiratorial nonsense with no basis in fact or the concern for facts, laws, precedent, population health, financial health, fairness, equity, for the masses. We, as a species, are still fighting wars over resources using everything from religious to conspiracy based excuses to kill and maim multiple thousands of innocent persons. Currency/money/power/control over others, are still the most important drivers and control the actions of the majority of the world for good and evil, and in most cases, survival.
I think we will probably survive this latest adventure down our historic self destructive path but...the pattern is tracked by the Doomsday Clock for all who care to see...90 seconds. The intensity of the threats to our existence have increased exponentially...our historic human search for a better understanding has not. We have consistently allowed a few bullies to dictate/manipulate our actions and activities with no regard for the known future consequences. In the past we have been willing and able to adapt... but technology without safe guards has us at 90 seconds and we have not changed or addressed, any of the causes affecting the negative progression of the timetable. I don't believe that technology, as it is used today, will be the answer we need. Anything that Biden can do to raise the debt ceiling will be a stop gap measure...an historic band aid if you will. One of many, while working toward a time when there's nothing left of substance in the way of baseline resources to be patched. The Earth has a finite resource base to support human life. Once used up...humanity perishes. We are in a race to the bottom.
Thanks for bringing the Doomsday Clock up. I finally decided to research who sets the Doomsday Clock that terrified me as a child and "nags at me" when I read stories such as Putin will ultimately use nuclear weapons. At some point, they started to include climate change in with nuclear holocaust. When did they do that? The Science and Security Board is of the Bulletin of Atomic Scientists. The DC was originally used by the creators of the Atomic Bomb to focus attention on the increase in number and potential catastrophic use of nuclear weapons. The Bulletin of Atomic Scientists is a corporation. Is it appropriate to keep using the Doomsday Clock to add to atmosphere of fear we live in? It engenders fear and doesn't promote rational thinking. They should stop it.
Gloria, it is not likely the Doomsday Clock will be stopped in its position because fearmongering is profitable these days. Keep people on edge and those in power can get them to do whatever they want done. Republicans use fearmongering all the time. Democrats need to pay attention to the "clock" only if to remind us all that global warming is real and that we need to stop permitting fossil fuelers to keep functioning as they have for the past couple of centuries. Then, we need to remind ignorant Republicans that limiting population is a positive since our planet has limited resources. Republican pushing forced birth is just plain stupid, but they don't depend much on intelligence these days, just anger, fear, hatred, and the rest of the negative emotions that keep their constituents on edge and sending them back into office while the planet edges closer to disaster. We can do better. Worrying over this artificial debt ceiling nonsense is a distraction that can keep people's focus from working toward renewable energy sources, adapting buildings to need less energy to operate, and dealing with harmful plastics, you know the real challenges we face. Then, there's the war machine that, nuclear or not, wastes so much of our resources and does so much damage. Can we stop men from starting wars, who knows, but we need to be able to do it because wars destroy and rarely offer anything positive in exchange for the death and destruction.
I didn't mean stop the clock. I meant stop sensationalizing and reporting on it and using the phrase. I agree we need to pursue solutions to all the problems you listed and not be distracted by the Republican's fear mongering and made up nonsense.
I appreciate your point although I think it vitally important to our survival to recognize the multiple dangers that now present themselves regarding our survival?
I think at the time on DC inception the use of nuclear weapons was the only clear immediate threat to humanities existence. The term Doomsday, "the last day of the world's existence","a time or event of crisis or great danger", refers to the end of the world as we know it, as a result of catastrophic (involving a sudden and large-scale alteration in state) activities. You and I are old enough to have lived through the changes and seen the addition of new and exciting world ending realities. Pandemics, threats of Cuban Crisis, Chernobyl, Three Mile Island, etc. Technology continues to advance but humanities control over technology is still lingering around in the dark ages..."...Build a Wall...".
I think the threat is real and we blindly continue along the path thinking that they/we/us can control others and their use of technology when in reality...they/we/us have proven time and time again...they/we/us can't, won't, or could care less about maintaining safe guards at the expense of profit/convenience/control...etc.
I agree with you that the threats need to be addressed. But the term "Doomsday Clock" inserted into any conversation has become a trigger, like the use of "dead babies" that diverts attention from the issue at hand to our lower, survival brain functions and away from rational thought in the moment. The Republicans are masters of this technique. Look how the term took me away from addressing your arguments concerning the debt ceiling.
Also, Democrats, CNN, MSNBC, NYT, will you please educate Joe Public that the Debt is NOT the same thing as the deficit, it is NOT like your household debt, it is an artificial concept that naturally increases every year if only because of inflation, and may actually reflect good stuff like economic activity. It is NOT "something we have to get down, because we can't just keep letting it go up." Yes, it is something we can just keep letting go up. It's been going up steadily for 250 years. Other countries don't worry about it. What makes America so special?
Stop this Republican blackmail once and for all. See you in court.
The problem is that media does not want the public to be educated. It would end the bothsidism they will not give up under any circumstances.
Your assumptions about "the media" are wrong. I know. I was the media throughout my career in newspapers and TV. The exact opposite of what you say is true. Most journalists I have encountered want people to have more and deeper insights.
While the shorthand some broadcasters use is slipping into bothsidesism, not everybody is guilty. I do agree that the press needs now to emphasize that this is an entirely artificial crisis cooked up by Republican extremists. It is Congress's job to see to it that the US government pays its bills, pure and simple. This business of trying to dismantle previous Congress's work through hostage negotiations is frankly in violation of their constitutional duties.
Dear Mr.Brady,
I stand corrected. That was a comment made out of frustration with the kind of casual coverage we get on most of the internet stations. I read a lot and follow some of the finest journalists. I apologize to so many.
I think the circular coverage of issues that are meant to distract rather than to inform has me going in circles.
Thank you for your considerate notice!
Sincerely,
I will concede that there are media that will inform their public as best as they can, especially ones publishing their news in written form. But that already excludes those people who aren't willing to invest the time and effort to read those articles.
Especially TV news programs stick to the easy way of 'informing' their audience in the way I described above. And that means large parts of the electorate is kept uneducated, and the journalists working there mostly will be aware of that but can't improve the situation because they have to stick to their program's doctrine of both sides of lose their jobs.
It's not Fox News that keeps Republican hopes alive, it's media like NBC and CNN that are giving their viewers euphemistic views of the situation.
It's not the journalists! It's the media owners, and the overwhelming majority of mass media is corporate. Towing the corporate line, or you're out the door. Most workers cannot afford to resign in protest.
Most media companies leave the news judgments to the newsroom staff. Other than the obvious example of Fox News, which is not a typical news operation, I can't think of any cases where this corporate line you speak of actually controls editorial content. Feel free to give some specific examples.
Much of the “media” is not educated! They wouldn’t know if we are! Playing the same old “who cares” attitude toward excellence.
I agree, the average "pretty face" pundit (especially those on weasel news) isn't smart enough to comprehend any of this. They love "both siderism" because it's easy, cheap, and requires no research. The average pundit is the perfect example of the "idle rich."
"The media" consists of individual human beings, most of whom are pretty free to say what they want. But like most humans, they have a herd instinct and mostly write or broadcast variations on what their colleagues are saying.
The network of ordinary citizens that I represent (www.FeathersOfHope.net) has been trying to break through the fog for 5 months now, suggesting that they at least talk about one very plausible solution to MAGA dominance in the House of Representatives:
We have known since Kevin McCarthy became Speaker that he had promised MAGA extremists to initiate this "debt limit crisis." And we have known since then that ultimately, a bipartisan majority will have to form to pass a bill that can pass in the Senate.
When that happens, the same majority needs to also pass a motion to vacate the Chair and elect a moderate Republican Speaker who owes nothing to the MAGA minority. Doing this will isolate and marginalize the MAGA minority and probable avoid a government shutdown in the Fall as well.
I know all the arguments for and against this proposal. My point here is that no one in media is even talking about it despite our many attempts to get their attention. Even Professor Reich has not mentioned it since he suggested the same thing during the marathon balloting that brought us Speaker McCarthy back in January.
I've personally written to Dr. Reich 3 times asking that he devote a post on this site discussing this proposal. (Prof. Reich endorsed Rep. Dave Joyce of Ohio as a good candidate for Speaker.)
If any of you would like to do something and not just talk about it, join us! At https://www.FeathersOfHope.net or at www.JerryWeiss.substack.com you can learn more, and also find contact info for media personalities and for 17 House Members we're trying to influence.
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Hear that, Bob? Read Jerry Weiss, above.
You can write to Robert Reich at robertreich@substack.com
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I always appreciate your wisdom! Thank you again. Signed up for “Feathers of Hope”
Thank you, Jean. Hope you can find time to reach out to some of the names on our list.
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Let us know whether Joyce responds. I don't think he will.
This isn't about Dave Joyce particularly. He was just Robert Reich's choice. Personally, I'd prefer Brian Fitzpatrick (R-PA) or Don Bacon (R-NB). But that's not the point.
The point is the proposal itself. Our network is contacting Democratic leaders and moderate Republicans, as well as media personalities, for the purpose of initiating consideration and discussion of replacing Kevin McCarthy with someone who isn't indebted to the MAGA extremists.
So long as McCarthy is Speaker we're going to have a continuing series of "crises" brought on by the farthest right segment of the Republican Party. They need to have a loss, and replacing McCarthy would be a big one.
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For those who believe that there are no moderate Republicans in the House, please read my posts here:
https://jerryweiss.substack.com/p/moderate-republicans-really
and here:
https://jerryweiss.substack.com/p/moderate-republicans-found
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No "moderate" Republicans in this House.
A couple in the Senate.
Pr obably in a 100 have even taken a journalism or ethics class.
A virtual monopoly of right wing ownership is as dangerous as the lies from the NRA.
Thanks so much for making this point! So few people (even leaders) seem to understand how our debt-based currency system works (granted, it is pretty counter-intuitive), so they can be hoodwinked by those who don't have their best interests at heart. As you point out, federal debt is essentially the nation's money supply. Reduce federal debt and there will be less money in circulation.
The key issue is not the sheer level of federal debt but rather what it is being spent on. Is it fueling productivity and meeting the real needs of the country or is it primarily further enriching the already rich?
Excellent point. Democrats use debt to invest in the country, whether in people, technology or infrastructure. The majority of Republicans seem to think debt is best created to make up for unsustainable tax cuts that mostly enrich the already wealthy.
I think of it like someone using a home equity loan or line of credit. They can either use the borrowed funds to make improvements on the home that secured the borrowing and build equity, or take the proceeds to go wine and dine with flashy friends. Republican tax cut funding always smells like the latter to me.
For now, what makes America special is its status as issuer of the world's reserve currency, i.e. the U.S. Dollar (USD).
https://www.goodreads.com/book/show/9625784-exorbitant-privilege
Check out Professor Eichengreen's book: the reason Italy & Japan don't have to worry about running 120%+ debt-to-GDP ratios is because the holders of their government bonds are domestic; the same cannot be said of America's debt because - as a reserve currency - USD facilitates international trade settlement the world over (and is used as a peg by 60+ countries!). A 90% debt-to-GDP ratio is considered an inflection point; at 130%+ the country's fiscal position can *only* be positively affected by inflation (our debt service becomes interest-only).
Yes, stop the partisan blackmail - once and for all... but President Joe Public is not as ignorant as the {Catholic Church, Deep State, etc. etc.} would make him out to be.
Krugman has a recent NYT article on this that you might look at. While it's true that the US dollar is the world's reserve currency - which sounds impressive - it's not clear that this is of great importance to the US economy. Krugman has some technical reasons, but the prime historical example is of the pound sterling being the world's reserve currency for 150 years, before the US dollar took over. There was no change in the overall British economy, yes there was some post-WWII stagnation, and yes the Brits have recently shot themselves in the foot with Brexit - but that has nothing to do with loss of the pound as reserve currency. Until 10 years ago, and the rise of Conservative austerity and Brexit, this small country was the world's 5th largest economy.
Thank you Michael, I will take a look...
BTW, it may not matter *that* much - but the last two decades suggest two different (almost opposite) consequences, i.e. a weak dollar & globalization in the 2000's and then a strong dollar & retranchment in the 2010's; the fact that the face of the world was remade in the image of America in the second half of the 20th Century suggests America's reserve currency status is *immensely* important, albeit not from an economic perspective. (Indeed, that is the only reason Republicans would be interested in it, i.e. holding it hostage, threatening it, and - ultimately - damaging it; ask anyone not in the "moral majority" - that is their playbook.)
Thank you for the comment. I would put it a little differently. The US dollar is the world's reserve currency BECAUSE the US remade the world after WWII, not the other way round. I do recommend Krugman, he's quite revealing.
BTW, the Republican idiots who use reserve currency threats as a club, in order to extract concessions on taxes for the wealthy, are ruining America. I agree with the President and with Dr. Reich, just call their f****ng bluff!
If it takes minting a $2trillion coin (see Krugman again) just do it and watch their heads explode.
Gloves off.
True that the debt it not the deficit and that both debt and deficit can be good if they are investments. It’s also true we can print more money, though there are downsides to doing that at a certain point. There are constraints to how far you can go before the system collapses. We have a stronger economy and our currency is relied on as a reserve currency giving us a lot more latitude to borrow than other countries, but eventually there will be a debt to GDP ratio that will undermine our economy and the world if the world doesn’t switch to other currencies first.
Inflation is double edged when it comes to debt. It makes debt smaller in real terms rather than making debt grow as you claimed. But inflation can also undermine the economy and thus make it harder to repay the debt causing interest rates to go up.
The Republicans are a mixed bag of not knowing and not truly caring about the deficit and debt, only using it as a political cudgel. And as I said we have a fair bit of latitude with running up a large(r) debt, but that doesn’t mean the debt doesn’t matter and we should just ignore it.
It was Keynes's brilliant insight that running up a deficit at a time of economic crisis, by printing money, is a good thing. As he put it, the time to pay down the deficit is when the economy is up and running again, not when it is still in the doldrums. It took a century to learn this lesson, and the Europeans have learned it particularly slowly. As advocates of "austerity" they are only just now beginning to change. Nevertheless, I agree that although the deficit is elastic, paid down it must be, and sooner than later. Republicans understand this, and typically run up the deficit during their tenure, waiting for the Democrats to (responsibly) pay it down. Now that Biden has been (responsibly) increasing the deficit to deal with the Covid-induced economic challenges, the GOP is piling on.
This nonsense is made possible only by the general lack of education of Joe Public, for which the media must take a large part of the blame.
As for "The Debt'" well it's largely bullshit. It always goes up, if only because of inflation, but it is NOT a sign of economic catastrophe, nor is it a sign of weakness. It is not widely known that the British National Debt ran 150% of GDP throughout the 19th century, at the peak of national wealth and power, yet the Victorians were very fastidious about maintaining zero deficit.
Bottom line, "National Debt" is a boogeyman used by the GOP to frighten people. Sad thing is, Obama actually gave in to it ten years ago, and they have been pulling this bullshit ever since.
I don’t understand why you keep saying the debt goes up because of inflation. Under what conditions and what mechanism are you assuming this?
I agree Keynes was right and that deficit spending is good to prop up a suffering economy as a general rule. I also don’t think that you need to pay off the debt in absolute terms. In fact the reason you don’t have to pay off your debt in absolute terms is because of inflation and growth. If you’ve invested your borrowing wisely, or at least not idiotically, your growth and inflation combined will make the debt look much smaller in real terms (purchasing power). You would continue to borrow, sustaining your debt, in order to make further investments.
The issue is at what point your economy’s baseline gets poor enough and your debt large enough that investors and consumers start to lose trust in your economy and ability to repay debt over time. I think that debt may be as much or more an indicator of future failure than a direct cause. It shows some combination of irresponsible spending or irresponsible taxation. In our case I think it’s a bit of the former and a lot of the latter. Essentially we are borrowing instead of taxing which means more of our borrowing goes to paying interest than into actual investments which would increase both GDP and the overall welfare of the nation.
I think paying down the debt should be considered as a proportion of GDP via smaller relative deficits, but using appropriate taxation, and specifically when the economy is in a healthy state. What the Republicans are doing is stupid at best, transparently hypocritical, and intentionally destructive at worst.
"I don’t understand why you keep saying the debt goes up because of inflation."
The debt goes up for a number of reasons, including inflation. The debt is linked to GDP, goes up with GDP, and since a portion of the increase in GDP is inflation, it follows that, since a little bit of inflation is always there, the debt keeps increasing. It's really a bullshit concept, not at all like the deficit, which is real, and, despite what Dick Cheney says, is actually important.
Debt is not linked to GDP, at least not directly.
We talk about our debt as a percentage of GDP because it is a useful measure for comparison. It tells us something about our government’s ability to repay or at least manage the debt because the government can tax some portion of that GDP each year to pay down the debt.
We do tend to borrow more as GDP goes up because we generally want to spend more. In that way inflation indirectly increases the debt, but that is a choice we (or our representatives) make actively. Debt does not passively increase due to inflation. Again, it is actually the case that inflation reduces the relative size of debt, all else being equal.
Todd: Agree with your first statement, disagree with most of the rest.
Debt is related, just like GDP, to economic activity. People go into debt to purchase stuff. If the price of stuff goes up, in part due to inflation, then debt will go up, in part due to inflation. I am NOT saying that inflation causes debt, any more than I am saying inflation causes GDP growth. What I am saying is that, given that inflation is inexorable, its contribution to the debt is inexorable, therefore debt will always go up. It's just not a big deal.
Todd, this was a great explanation & easily understood! Thanks!
It has been going up since the beginning of the nation, but hardly steadily. It has exploded since 1980. Of course that is when the GOP started the massive tax cutting.
Just heard a dialogue on The Daily (NYT podcast) where the two participants totally conflated the debt ceiling and budget. I lodged a complaint on that site. I also sent this letter to my representatives and senators, as well as to Chuck Schumer.
Oh, how I wish!
Debt in itself is not necessarly bad, but too much debt can become unsustainable. Money left in my pocket does more for me than money sent to the government. There are programs and projects that promote the public good, however, there is a difference between needs and wants. Debt must be serviced and that means that more money is used to service the cebt and less money is available for necessary programs It is not desirable in the long run to have a nanny state.
I think you're confusing national debt and national deficit. Deficits are the difference between what the government takes in in the form of taxes, and what it spends. Everyone who does not belong to the GOP believes that deficits cannot be maintained.
The debt is altogether different, is an artificial concept that has more to do with "indebtedness." For example, you buy a house and you get a loan (mortgage) from a US bank. Despite the fact that all the money remains in the US, nevertheless the national debt goes up. Yet it's a good thing! Same if you want to borrow money to build a factory. It's a good thing that contributes to the GDP, yet the national debt goes up.
The Debt is a concept which should probably be retired. Other rich countries do not have the concept. It is useful only for GOP politicians to play games with peoples' heads.
Biden and the Democrats caused this massive inflation. Have you ever seen a Democrat in Congress that didn’t spend like a drunken sailor?
Seems like you’re not really paying attention. Debt has soared under R presidents since Reagan, and decreased under D presidents including Biden. The investments the last Congress made in infrastructure, bringing manufacturing back, reducing drug costs, investing in families, etc. are necessary for a stronger future. Private capital can never accomplish these things.
The US debt increased in 2021 and 2022, although as a % of GDP there was some decline. I believe the US debt is a problem though how big a problem depends upon one's interpretation of tangibles and intangibles . The issue is what the government does about it and when in terms of policy choices on revenues and spending. The spending of the Biden administration I mostly agree with as national needs have been neglected for decades. The need to spend quickly for covid has come at some cost of fraud and waste however.That's just the way it is. As far as Biden and the GOP, it's hard to recommend negotiation with fanatics at any time, esp. prior to what has to be done.
YT is full of this…posting the exact same cut and paste nonsense while claiming to be a Dem or an Independent. The lack of original thought exposes their stupidity for thinking they’re ‘owning’ anybody. Like no one can see through their crap for what it is.
China 🇨🇳 and the Democrat Party one in the same, and I am a member of the Democrat Party . Republicans are Conservative.
Neither of your statements are true. Spending on the middle class is what you and your fellow Republicans are against. Who will you feel superior to, then, right? The trickle down lie of giving it all to the wealthy has been exposed for the con it is. Sorry, Janet, you’re the loser, and you picked the wrong site to troll. The subscribers here are way smarter than you’ll ever be.
How do you get that notion?Democratic policy is very much opposed to Chinese policy in general. On the other hand, many Republicans, including their leader, Benedict Donald, are beholden to Putin, & republofascist policy is virtually indistinguishable from russofascist policy.
Republicans don’t exist anymore.
Marjorie Taylor Greene is just spewing fecal matter...nothing new.
It's spelled "Repooplickins."
Oh Janet, I suspect you are not a member of anything. As a computer construct, you repeat what you are given to say, picking out phrases here and there to throw out. They don't have to make sense because computer generated stuff does not have to. It's entertaining anyway.
Aha. Another AI troll generated by Putins puppets!
Janet, your comment is very troll-like and very likely to fall on deaf ears here. But do carry on.
Actually, regardless of its source, this entity is taking away our energy that should be used for other purposes. (It's wasting our time.) WE ALL SHOULD LEAVE IT COLD WITH NO RESPONSE WHATSOEVER, OTHERWISE, IT'S TAKING US OFF POINT, DOWN A RABBIT HOLE. TURN YOUR BACK ON IT AND NEVER RESPOND. LET'S SEE HOW LONG IT HANGS AROUND, WITH OUR BEING 100 PERCENT COLD SHOULDER. (So don't carry on.)
Huh?
Actually Janet, the fault lies in the Trump tax "cuts." Bet you are a net loser because of those "cuts."
Nope 👎 actually haven’t lost a thing .
Yes, indeed, computer generated, answers make no sense! Keep it coming, "Janet!"
Marjorie Taylor Greene is just spewing fecal matter...nothing new.
Debt has soared because of Government Spending. Spending what we don’t have.
Obviously you missed the fact that the Trump administration outspent every other before it.
https://www.propublica.org/article/national-debt-trump
The fact that Trump ran us into more debt should be discussed more by editorials as well as TV. The public must b informed that the debt they are refusing to pay is the result of Trump’s indiscriminate spending. Not by current administration. And Reich is right . Let then hang them selves. Don’t all those who would by hurt most by their proposed budget vote. I like this recommendation very much. Ignore .
The
Don't forget his reckless tax cuts for corporations and the obscenely opulent.
Oh Daniel, "Janet" can't follow up on any resources you present, but it will be helpful to a real person on this thread who is not sure of the real cause of a quarter of our debt being due to spending and tax cuts for the rich by the Trump administration. Thanks.
Well Trump is gone and I have not seen anything better from Biden. Hopefully there maybe a Kennedy. My parents and their friends would be all over that one. I would like to see someone fresh, and new.
Oh your right everything is Trumps fault ! At least his children are not showering and with their Father like the Biden Children and their drug addiction just like their father Joe.
Much more so because of loss of revenue due to Republican slashing of taxes for corporations & billionaires, with no resulting benefit to the economy nor to the lives of the vast majority of Americans.
If you want to hold on to this incorrect belief, you're free to, but why would you if the evidence says it ain't so?
J. Nol, because "Janet Shaw" is a perfect example of Dunning Kruger effect.
Or the Sunk Cost Fallacy?
Yo Janet, you need to be on a middle school thread where the kids will maybe believe your nonsense or even figure out this is a computer-generated something and have fun commenting back to your childish nonsense. I work with middle schoolers, so know their humor. They may find you funny. Or, maybe they won't, just uninformed.
Are you on Fox News?
Janet, try to prevent reality from bitting you in the ass.
Democrats voted with Republicans three times to raise the debt ceiling under Trump who oversaw 8 trillion increase in the debt. Yes, blame the Democrats.
...and Bush II cut taxes then started a war...talk about dumb.
Trump was only in office four years. At least he was lucid. Biden doesn’t know where he is and stumbles and mumbles. The lights are not on upstairs.
Oh jesus, another stupid troll.
Biden has REDUCED the deficit.
I think you are lying about the Trump tax cuts because unless you are in the top 1% of earners, they hurt. If you live in a state with an income tax, you can't write them off!!!!
The Biden proposal actually reduces the deficit.
https://www.whitehouse.gov/briefing-room/statements-releases/2023/03/09/fact-sheet-the-presidents-budget-reduces-deficits-by-nearly-3-trillion-over-10-years/
And in those 4 years incurred 25% of all debt throughout US history. That's over 16 times the average rate for presidential administrations. Talk about profligate spending!
Jaime, good information. Alas, trolls and computer-generated botts can't learn more than their master/operator wants them to, and this one prides itself on ignorance.
Ruth, I like to take advantage of the opportunity bots & trolls give us to correct the misinformation they leave. I'm a believer in truth eventually prevailing over lies, & right over wrong. Sometimes it takes quite a while though.
I saw what the bot said to you—crushing! I think it's coming from China, but here I am, talking about it and letting it take up the 47 seconds I needed to write to you. But writing to Ruth is not about wasting time. I'm on a self-imposed mission to get rid of what's-her-name. It's ultimately degrading to the Reich experience. We all need to stop talking about it or reacting to it, freeze it out so maybe that'll make it go away. Keep writing, Ruth. —Sandy B
Are you sure you aren’t mixed up ? Stumble and bumble vs. rapist,grifter,
Seditionist,off the wall mentallly. .? I choose the former.
Probably. However I am 92 and just coming out of a stoke where my arm and hand were paralyzed. My judgment isn’t affected but I do make errors . Thanks.
Hey genius! Research and critical thinking skills really do work
You are one dumb troll.
Marjorie Taylor Greene is just spewing fecal matter...nothing new.
Oh Janet! You certainly do pay attention! Trump whined the same nonsense nearly nonstop for 4 years. Maybe for Republicans that is lucid, but for the rest of us, that is something far less, maybe ignorance, incompetence, lack of interest, an ego that is far too large for the person wearing it, or maybe, just that Trump wants only attention, like a 3-year-old. He is continuing the practice as he plans to run again. I guess his base likes ignorance and incompetence, so they will vote for Trump again, then find a way to blame Democrats for their poor financial and health situations. Brilliant, I must say.
Janet, we've watched the GOP whine about budgets, while giving billionaires and corporations more taxcuts, in the same drunken breath.
All I see is time after time Republicans soaring the deficit with reckless slashing of taxes for corporations and billionaires & Democrats having to clean it up every time.
We were generally going fine with the debt until Reagan tripled it & Bush nearly doubled it. Clinton managed to create the only budget surplus in many decades which Bush Jr promptly erased with new record deficits by slashing taxes on corporations & billionaires thereby giving us 2 recessions, including the Great Recession, which Obama had to clean up, ending his administration with a robust economy that Trump sabotaged by signing the foolish Republican Wealthcare Plan, & in just 4 short years (they seemed much longer than they were), he was responsible for 1/4 of all debt incurred throughout history. Biden has remarkably brought the deficit down to a fraction of that while cutting unemployment to its lowest levels in half a century.
Jaime, that was well-said. There is so much evidence that it is the supposed fiscal conservative Republicans who over and over again push the debt up to outrageous levels while the "tax and spend" Democrats bring things into some kind of order afterwards, but rarely have enough time to really do the job as the American people have short memories and vote the Republicans back into office before things are working well. The people who vote for Republicans have no clue what is really going on since they are so focused on their own little spot and watch only programs that tell them their Republican friends are the ones doing what is best for them. They lie, of course, but the base is so wrapped up in their beliefs about who is causing the trouble, they can't even begin to see the truth, and that is just the way Republican leaders and their media friends like it. That way, rich people and corporations can get richer while only Democrats and a few independents are fussing about it, and those folks can be ignored by Republican voters. We can see that by the quality of Republicans currently in Congress. Unlike sometimes in the past, when there were caring, curious, interested Republicans serving, now, one would be hard-put to find more than a handful that fit that description. We all pay for that poor quality of representatives and senators serving the Republican party.
I see this, also, and I see you don't need to be told to "keep writing". I'm new to chat rooms, and didn't realize that today's experience is with a "troll", although, of course I know that trolls are undesirable. I want to offer encouragement to what you wrote directly above. Congress is as bad as you or I have ever seen it in OUR lifetimes, but think back in history and take note of numerous mini-eras, when representatives and senators were banal, selfish, and unable to govern well. When you look at the whole of our brief history, messy government has been the norm. Once or twice in a few generations, we'll see a high point of our history, and talk about that throughout the coming generations. When we look at "average" days in Washington DC, things move along slowly, and every day is mostly normal, with mediocrity entrenched, and boredom that rules the day. I'm sorry to describe it this way, but let me add, "Blessed are those who do the work."
I have huge faith in our Constitution, and I'm more worried about today than I recall worrying in the 1970s, AND with all that, I have faith that I'm part of a majority that supports the Constitution (which has been hobbled together to work like a Chinese block puzzle).
Sandra, good insights. It is true that Congress was often a shambles with members attacking each other. Things have improved in the past century or so. We have experienced bad behavior like HUAC (House Unamerican Activities Committee), a boys' club of scared children needing to blame someone and find people who were anti-American to hunt down when they, themselves were as unamerican in their actions as anyone they "found." The manufactured divisions in our nation cannot be mended unless members of Congress start demanding more of each other. The Democrats on House committees have been doing that a bit to Republican members who are putting out lies and being just plain rude or ignorant when questioning witnesses. I get it that conservative white men are scared they will not be able to control everything forever as they have since the beginning of our nation. Eventually, there will be too few of them and most people will come to see just how childish and inappropriate their behavior is for members of Congress. We are not there yet, but I see the beginnings. Now, if the people out in the nation could see that the people they vote for matter. If they elect a jerk, they will get nothing that will make their lives better (of either party). If they elect someone who only spews hatred, blaming, fear, and anger, it is a guarantee they will also get nothing. If they vote for someone rich who has never demonstrated an interest in sharing what he has, they will get nothing in return except whining and complaining from their representatives. In short, how do we help share with folks that angry, fearful, hateful, selfish people do not care or share, so stop voting for them, even if they have an "R" behind their name. The "R" rarely means help for anyone these days except for rich mostly white people and corporations. Skip the rest of the country, you know, the ones who work to keep things going in the nation.
You have it wrong. The pattern has been, when a Republican administration is in the White House the nation's debt goes way up and when a Democrat president is in office, the debt decreases. As to this inflation it has more to do with the impact of Covid, causing supply chain problems, and labor shortages. It is a worldwide phenomenon, having more to do with the global economy.
The DEFICIT decreases under Democratic administrations. The DEBT continues to increase, albeit by a much lower pace, the one exception being the end of Clinton's administration.
Our own little Russian troll spewing hateful nonsense. How charming. (Heads up AI, it’s indeed not in deed)
I beg your pardon Ms Shaw! Don’t you remember what Mr Biden’s “ drunken” predecessor did? He was the “drunk” with power then; no more!
Paul Stockhausen
Yawn, no one here believes your lies.
As Bob correctly said, the Supreme Court majority will side with the corporations against the foolish Republicans
Literally: YOU NEED TO SPEND MONEY TO MAKE MONEY. INVESTING in things like infastruction MAKES money.
Counterpoint: Have you ever seen a Republican, now Trumplican, that didn't throw ALL OUR MONEY at obsolete fossil fuel billionaires even though they DON'T PAY TAXES and KILL US ALL?
Ah Janet, ignorance is bliss, it seems. You must be extremely blissful right now! You go Computer!
So you haven't read anything else Robert Reich has ever written, apparently, or you would understand what actually caused inflation. And getting money to the people who actually need it instead of greed it, like Republicans seem to do constantly, actually helps the economy instead of stifling it by keeping most money out of most hands. Spending is good. Hording is bad. Circulating money is good, nothing moving, bad.
You obviously did not follow the reality of the Former Failed Guy or took the time to read this article. Go find a bridge.
Janet, comments like urs sound like a Repub throwing out red herring comments without any evidence to support them! Better check ur history books before sounding off like tRump always did!!
Marjorie Taylor Greene is just spewing fecal matter...nothing new.
https://voterdirectory.com/oh/janet-shaw-5/
This states Janet Shaw is a male Republican. No surprise.
No I am not a male. The only make in my house is my husband.
SDE?
Where are your shaman horns and pelt?
You are so wrong! Democrats didn't cause it. Reversing 40 years of Republican tax cuts would also address financial shortfalls, but that approach does not fit the Republican narrative that cutting taxes promotes growth and raises revenue.Biden has rejected the trickle-down economics of the Republicans, which is based in the idea that moving capital upward will prompt investment in the economy and help everyone. In its place he has revived the older idea that investing in ordinary Americans and infrastructure creates widespread prosperity. His plan is a reversal of 40 years of economic policy, and we need to pay attention to it.
Yes! Yes! You must be in MY generation. (War babies)
Janet Shaw is probably a right wing 300 pound male with nothing to do but troll. Ignore it.
Prof. Reich is himself, the one and only. No need for gimmicks or subterfuge. Someone like yourself has no concept of such excellence. I pity you.
Yep that’s right.
Your wearing the horns when you are not sleeping with your sister like your buddy Joe Biden.
OMG! Ah Janet, this is not a middle school thread. Such insults are not worthy of caring intelligent adults for whom this nation and its future matter. Even trolls could grow up if they chose.
The reason I know you're just a boy is because you don't know how to punctuate or use "your and you're."
I think you are still wearing your Shaman with your horns and fur when you broke into Nancy Pelosi’s office .
OK Janet (if that's your name) I think you are computer generated. It is not a good generation, so let your masters know.
Agnelli & the boots on Pelosi's desk are two completely different individuals (per their criminal convictions); can't we all just 'Baked Alaska'...?
That’s your group Dems ! The crazy lunatics and the ones that shower with their daughters .
Wow. You are really gross. What a reveal on the depravity of your mind.
Yep, computer generated. It makes no sense and says nothing anyone needs to read. Go Janet!!
Hi Ruth, do what you can to persuade us all to ignore Janet Shaw. I've already faltered and won't do it again. All of us should just turn our backs and fall silent, and block "them", however they choose to present.
Sandra, I must admit I get a kick out of the "trolls" or "botts" that enter this thread sometimes. I try not to directly insult the person/bott, but try to let them know they have been tagged and whatever they say will most likely be ignored or jeered at because it is so ridiculous. Sometimes, it is just fun to interact with them when so much of what we read is not fun or funny.
Experience with your dad make you come up with that analogy? Go crawl back under your rock!
Janet is a Russian troll dude posing as an old horny Republican. You know the type, Trumpelstiltskin & Pekingese Putin along with the rest of Republicans who are notorious for stealing children and sneaking into the wrong locker rooms. Hiding in wait for the under age female students to shower. Ignore him! Russians have started their lies and spreading chaos early this year.
Ask Joe he always liked to shower with his daughter .
And yet your cult is climbing into everyone’s bed…irony much?
Wow! computer generated BS can really get nasty! I can't believe you have a piece on this thread. What could you possibly have to generate that anyone would benefit from reading? My vote, nothing, but just keep on saying it and demonstrate that I am right.
Seriously good, thank you.
Do what your authority is required to, President Biden, and waste not one more moment.
Let’s go, Dark Brandon.
Never up, never in. Seize the day!
Issue an executive order. Now!
https://en.wikipedia.org/wiki/Executive_order?fbclid=IwAR1yelZDYWqWTgLo1JSNN41U5xZqRL7aGGIK1BAFpyVR0GPUwgXpyXj1-6c#:~:text=Congress%20has%20the%20power%20to,order%20or%20legitimize%20policy%20mechanisms
My concern is how do the financial markets react to Biden ignoring the debt ceiling (which by the way, I think should be repealed) with the inevitable court battle? Will the courts side with Biden? Will Treasury payments made be nullified? Investors and markets hate uncertainty. A stock market crash, turmoil in the bond market, an increased interest rate on Treasury bills/bonds are all possible. The chance of a deep recession may grow. We need to be prepared for these consequences. Can't assume no negative effects will happen.
I think (personal opinion) that the financial markets will not only accept Biden ignoring the debt ceiling, but be scared to death of the Republicans destroying the economy. All the markets want is profits and stability, not chaos.
I totally agree with your last sentence. IMHO, if the courts side with Biden, the financial markets will go along and the effect will be muted. It will be the desired death knell for the debt ceiling. But if the courts side with the Republicans, chaos will ensue. Hold on to your hat! I wish I could be confident that the lower courts and SCOTUS will do the right thing!
The markets are not rationally motivated. You can’t live in fear of what they might do. The US Constitution is clear what the law says. No need for hysterics.
Oh there will be negative results. The entire world economy will be effectively. However Biden will not allow this to happen.
I think the last House Speaker who tried to blackmail the Democrats lost his seat . Wasn’t it Newt Gingrich?
Mark Zandi at MOODY Analytics posits that in that situation he expects to be a short term drop in markets as uncertainty over the possibility of the courts overturning the payouts but long term good move. Anything is better than default or even the hint of it.
Thank you Professor. Article 6, Section 1, says essentially the same thing. Amendment 14 section 4 reinforces it. The debt ceiling is as Unconstitutional today as it was in 1917. The only option for the current House of Representatives is to refuse to pass any NEW legislation that would add to that debt. They can not, by Constitutional Law, prevent the Federal Government from paying debts already incurred. This is one of the many reasons for we, as citizens and voters, MUST demand that all persons elected or appointed to public office at any level MUST read and comprehend the Constitution. It is unfortunate the Framers assumed that anyone seeking public office would, of course, read and know the Constitution. They would never understand the utter stupidity of today's maggots.
Fay, Regrettably, and this concerns me, the Constitution does not preclude attaching conditions to raising the debt limit, providing the bills are paid.
Are you using a Trump argument that if the Constitution does not say you cannot do something, do it? I thank professor Reich for reminding me of Federalist Paper #30 which explains why it is imperative for the US to pay it's debts and have good credit, national security being one good reason. It was a good reread.
Gloria, Considering I simply am assuming the role of jurist (particularly the 6 SCOTUS, dare I say, textualists) whose task is to interpret the Constitution, I fail to understand why you would equate my concern with “a Trump argument.”
Because the debt limit of 1917 was not a Constitutional amendment, isn't the question whether it is constitutional be addressed before discussing whether conditions can be attached? I'm a retired nurse. This isn't my area of expertise. I want to understand.
Gloria, You raise a critically important issue. Though I am not an attorney, I imagine one could argue that the debt limit is unconstitutional under the Fourteenth Amendment.
Is it time to get rid of the debt limit?
I said it was a Trump argument because he frequently used that argument to justify questionable actions and many are familiar with that. I didn't mean to insult you. I apologize.
Gloria, I appreciate the apology and wish to clarify my purpose in posting was to ensure we consider every possible contingency as the debt ceiling controversy largely consumes our politics.
IMHO they are 3 things that need to have immediate attention: eliminate the debt ceiling misnomer, Citizens United, & the Electoral College! Wouldn’t life be more pleasant without these 3 headaches interfering in the governing process!! I know where the misnomer Citizens United came from but not when or how the other 2 came about. Can anybody enlighten me?
YES!, YES!, YES! As both a legal and a practical matter, "we" Democrats, Progressives, and the few remaining sane Republicans MUST INSIST that we follow the Constitution. The House and Senate GOP will not cooperate anyway. Thank you, Professor and Secretary Reich for unequivocally supporting this avenue of response to the GOP. Actually, President Biden should never have asked for their permission in the first place.
President Biden didn't ask their permission. Joe Biden has read, and comprehends the Constitution at least as well as I. It is the retrumplican maggots that need to read it. Actually it is the whole GOP that needs to read and comprehend ALL of the Constitution - some of the justices on the Supreme Court could use a refresher course too.
Yes, Fay, they should, but it is my sense they don't want to abide by the parts they don't agree with regardless of what the Constitution says.
Jaime, you are right about Republicans not wanting to follow the parts of the Constitution they don't like. The Supreme Court conservatives have proven they ignore it whenever they think they can get away with it, and they get away with it a lot since they are the highest court in the land. However, lately states seem to be ignoring federal law and the SC when they restrict all kinds of rights that are in our Constitution, voting, for example, going beyond what the SC actually permitted. Maybe Democrats, and President Biden in particular, should start showing the American people how Democrats are actually following the Constitution. A set of public service announcements could help with this. There are a lot of talented people who could translate the complexities into language ordinary, not extremely political people could comprehend and use when claiming their rights as citizens.
Thank you, Fay. One guesses we can always print more Benjamin Franklin notes. Yes, I agree with everyone. If this goes south, we will marry a disaster, not just court it. What worries me is that the bigger picture is missing here. Surely there must be a price to pay somewhere someday to cope with the situation. Excuse my ignorance. For millions of US Citizens, including myself, if we keep borrowing, we eventually go bust and then suffer the consequences of that effect. I’d love it if one or more of the comments in today’s message would educate me and write a comment on how this faux ceiling keeps playing energizer bunny without ending or aftermath at some point, regardless of party affiliation.
I think I can venture a guess to say that a large part of this debt was caused by massively cutting the tax rate on the rich since Reagan in 1980. The solution is not to stop spending, but rather to turn on the income flow again.
Susan, In my view, you nailed it. The challenge is how to reach a largely indoctrinated public fed only on partisan information and opinion that confirm their own misguided bias.
President Biden & the federal government have the resources and clout to educate the public, although most republicans these days seem impervious to being educated--as if new information and another way of looking at a fiscal problem is a malevolent trick meant to confuse the public. Without realizing it, they’ve already been manipulated (tricked) into reacting negatively to all info perceived as coming from the political “left.”
Perhaps if various celebrities did 30 second public
information spots on tv like the old “...the more you know...” public service spots, enough people would pay attention to them to make a difference.
Susan, Indeed, your portrayal of most Republicans, regrettably, is pitch-perfect. Still, because I continue to believe that news organizations are a public trust with an ability to inform and influence the national conversation, I will persist in demanding we repeatedly hear, see, and read that raising the debt limit doesn’t give the government permission to borrow more money; it gives government permission to pay back the money, with Congress’s approval, we already borrowed.
A much more progressive tax system like we had from FDR-LBJ, with more overall revenue but lower taxes for the majority of Americans (the higher taxes on the very rich & corporations would more than make up for it), would do that.
Susan, thanks for the feedback, much appreciated!
Michael Hutchinson partially explained in these comments about two hours ago. I learn a lot from these comments.
I had a look at Michael Hutchinson, 2peter, and Henry. Their comments and others today lead me to think we’ll see the debt ceiling rise for the foreseeable future. Is that a good or bad thing, I guess we’ll all keep following Substack and see where it goes :-)
Learn about Modern Monetary Theory which puts forth how the government actually functions.
The only way to keep "debt in control" is to include the funding and source in every bill. Something some legislators are loathe to do. Refusing to pay debts already assumed is a different matter entirely. It is hard to explain because international debt is different from personal debt. It is sort of, but not exactly, like buying a car you can't afford, then not paying for it.
It is a de facto request for permission if you don't legally need their concurrence.
I respectfully disagree, Alan. In my opinion it would only be de facto if permission were necessary. Biden has repeatedly and legally said he will not negotiate. The Unconstitutional McCarthy (and previous Republicans) have "tried" to hold Congress in thrall by claiming to hold 'the debt ceiling' (which is clearly Unconstitutional - it is twice mentioned [Article 6 Section 1, and Amendment 14 Section 4]) hostage. There is NO debt ceiling, we already borrowed and are now repaying (at least on paper) what we borrowed prior to 2023. The ONLY debt the current Legislature can legally argue is future debt. Since the retrumplican maggots have failed to present a budget I don't see what they think they can argue.
Fay
Agree. This is a big nothingburger. Biden is going follow the Constitution and pay our debt. Repubs are playing chicken threatening default. Riles up the base and gets press coverage. When it comes down to it, they will cave. They won't do anything to crash the stock market and pizz off their wealthy benefactors. Junior high-level strategy.
As for the budget, Biden is ready for the fight. Here in Ohio, have seen ads for the specific programs that will disappear if Repubs get their way. The Lincoln Project is crafting some razor-sharp ads. The 12% of voters who are rabid MAGA will remain oblivious; everyone else will be satisfied with good-faith negotiation. If Repubs even think of cutting veteran services (which I've heard some are considering) they'll find it's the same as touching the third rail.
Thank you, Cheryl for your keen observation. I'm especially happy to hear what's happening in Ohio. Living in California, with only a few maggots in isolated primarily rural regions it's easy to become complacent. I agree, meddle with the VA or SSA, and they will come up against a steel wall.
Alan, is it possible President Biden is unaware of his position here in relation to our Constitution? I hope he is and within a couple of weeks, he makes the positive move to declare that our debts will be paid on schedule according to the Constitution. McCarthy would whine like the toddler he is, but the financial realm would breathe a sigh of relief, at least for a while.
Wouldn’t it be wonderful if the only major bargaining chip that the Republicans have crumbles like a rice cake when used as frisbees?
Robert has not only the perfect solution, but a wonderful way to put Republicans in their place. Much whining will fill the airwaves, but there is nothing that Republicans are trying to do that actually helps anyone without a seven figure bank account.
I say let these asshats whine and cry all they want to. President Biden needs to get tough with these insane morons and tell them that the bills were going to be paid, regardless of how many tantrums the Fascists throw. I have never seen such insanity in all my life by supposedly grown adults..Democrats are the only adults in Congress. The GQP members apparently never got past the toddler stage.
There never is. They act as if their only constituents are their millionaire/corporate donors.
How is it then, that The White House and the Senate majority NOT KNOW THIS, and aren’t speaking of it daily, loudly, and forcefully? Banning assault weapons is a flagrant and unlawful breach of The Constitution (It’s not, of course) but tampering with America’s ability to pay our debts, another right and obligation defined by that document, is not? Is it true that “American’s get the government they deserve”??
Given the Roe v Wade decision showing their penchant for making stuff up, I lack your faith that the fake "originalists" will stick to the actual language and/or intent of The Constitution. I wish us luck!
Perry, I am concerned about the SC conservatives too. They have no trouble making things up, looking to medieval men for their justifications, and allowing states to take away citizens' rights if they just feel like it. I wish there were some way We the People could shame the conservative SC justices into doing the right thing for this nation since they don't seem to either understand or care about the real issues people face and the rights they are permitting to be undermined by rich white "straight" pseudo-Christian male legislators in the states. Those conservative justices think they won't be touched with a recession or even depression they would cause, and maybe with the millions they are raking in with gifts and activities of spouses, they may be right. That's where it is essential there is a code of ethics in place that they must follow on penalty of removal from office. It's all tied up together and is a potential mess. That's why I think Biden should step in with an executive order related to the debt ceiling and that we are obligated to pay our debts.
From your mouth to Joe Biden’s ears. F the Republicans. They care not one whit about this country. Kevin McCarthy is a fool.
I agree the debt ceiling needs to be raised.
But the point is we really need to also deal with the ever increasing deficits, the interest paid alone to borrow to run our country each year is in the hundreds of billions of dollars. Insane.
The cuts need to come mostly from the exorbitant immoral Defense Dept budget, and more tax money collected from the exorbitantly rich, along with everyone paring back excesses. We should be expanding programs to help the struggling many, increasing healthcare coverage at lower costs and regulating obscene profits of insurers and pharmaceuticals. The Social security program needs to be maintained and funded properly.
Stop the wars!
Now we have a war in Ukraine we must support. After all the other pointless wars.
I agree. I keep yelling at the radio while listening to NPR: Biden, stick to your guns! It’s ludicrous that the press is blaming “both sides” for the debt ceiling crisis, and repeating the MAGA’s claim that in failing to “negotiate”, Biden will be the cause of the U.S. default.
Rosie, we do seem to keep repeating the insanity of the past. Clinton dealt poorly with the Gingrich crew that wanted to essentially tear down our government. Gingrich was never clear what he actually wanted to replace it with, I'm guessing with him as president or some other such crazy idea. The poor were further villainized, Black Americans were incarcerated at many times the rate of white Americans despite the crime rates among the groups being similar, and work requirements to get financial help were put in place which did far more harm than good. We Democrats should know it is extremely difficult to negotiate with Republicans. Cruelty is their aim, particularly against people of color, women, and the LGBTQ community. Then there are the disabled and health-impaired communities that are regularly harmed by the huge raises in costs for drugs and tools for survival. Republicans have become the party of cruelty, hate, and money-grubbing. Oh yes, and ignorance too. We do need a two party system, but not one whose members prefer fascist ideas to democracy. Knocking the Debt Ceiling argument out by circumventing it with an executive order could help, at least right now. A national speech might help get the ideas across, Biden beginning the presentation, then some knowledgeable people making presentations to explain what is going on: Robert Reich, Katie Porter, Bernie Sanders, Paul Krugman, Kamala Harris, and others could talk about the economics of ignoring the needs of the people and how we all pay for that. It's an idea.
"Never argue with idiots. They'll just drag you down to their level and then beat you with experience." - George Carlin
"Never wrestle with pigs. You both get dirty and the pigs like it." - attributed to both Mark Twain or George Bernard Shaw
There must be more, folks - c'mon, chime in
You reminded me why I thought Leslie Stahl didn't argue with Margorie Taylor Green on "60 minutes" when MTG called Biden a pedophile. Where would the conversation have gone from there?
Gloria, I think that's the point. When Greene called Biden a pedophile, her interviewer could have asked, can you explain your reference? That is a typical question interviewers, good interviewers use. Greene may have gone nowhere with it, but it would have been clear she had no clue what she was talking about and people could have seen that she can be stopped in her tracks. There are so many things Greene has said over time that could have been asked about and were not, not just the gotcha questions,but honest, we need to know what Greene has done for her constituents, what she thinks they need from her, why she feels she is up to being on the Homeland Security Committee. It seemed to me Greene ran the interview and got from it what she intended, her accusations got out into an audience broader than Fox and that ilk.
MTG would have been ready with her questionable examples to add fuel to the fire. Viewers would have thought, "hmm, I didn't know that," and in the time frame for the interview, Stahl wouldn't have time to fact check and correct her. Stahl didn't fall for that strategy and didn't follow her down the sewer.
Gloria, you may be right about Greene being able to get more of her stupidity out there, but I think Stahl could have parried successfully. Greene has her talking points, but no depth in anything I have heard from her. When statements, even ridiculous ones are left unchallenged, they can gain some gravity by being on a program like "60 Minutes." My hope is that this program will refrain from bringing on the ignorant among us to present their positions. There are at least a few Republicans who know something about something they can talk about. Greene knows nothing important about anything.
I agree. She shouldn't have been given any credibility by being on "60 minutes." But read Carlin's and Twain's quotes again, please.
Biden is a pedophile. Joe showering with Ashley Biden. That’s just sick. No wonder both children have been in counseling and rehabilitation.
Trump has been accused of sexual abuse by dozens of women, including one who claimed he (& Jeffrey Epstein separately) raped her when she was 13 years old.
OH dear, the computer bott is back! And, with nothing that makes sense. I think it needs a better algorithm!
Nobody cares for your unconsidered opinions.
You just proved George Carlin's and Twain's points.
Miss Anne:
The Twain shall always meet. Your wish is my command. Your first quote is his, too.
"Now and then we had a hope that if we lived and were good, God would permit us to be pirates."
"Eat a live frog first thing in the morning and nothing worse will happen to you all day."
“The truth is the most valuable thing we have. Let us economize it.”
"People will believe anything. Unless you tell the truth. "
Here's a Shaw to wrap up (no relation to Mr. Janet.): "The power of accurate observation is commonly called cynicism by those who have not got it."
To Robert Reich's commentary: HEAR! HEAR! A thousand times over, Hear! Hear! Biden MUST stand up to these traitors who are commandeering our country in every way and, it needs to be said again, what they are doing is NOTHING that American citizens want!! They are dangerous to America and the world and are brazenly anti-American and should be treated as enemies, not as normal electeds who can engage in honest negotiations or discussions.
That said, Noam Chomsky's wise words about America being a one-party system, "The Business Party" was never more in evidence than in the decadence and debauchery of the White House Correspondents event over the weekend. The party favors should have been violins and table-top fires so the full display of "fiddling while Rome burns" could have been enacted. What a disgusting show of disregard and disrespect. For God's sake, America: wake up!
It is more like a debt oath than a debt ceiling when tied into the constitution, just as they made an oath to the constitution, they seemingly made an oath to honor the public debt. The fact they won’t honor the public debt is very dangerous and going to hurt everyone including themselves, they can’t even vote to help themselves at this point when the public debt and the budgets are two separate issues.
The Speaker of the House Kevin must be related to the dummy Charlie McCarthy!
He is just saying what the radical right members are telling him to say. His position is being held hostage by these traitors!
If the Republicans really want to reduce the deficit they should wait until they are back in the White House. Don’t hold the Country hostage.
What an insult, comparing a self-respecting dummy with a glove puppet! LOL!
Thanks for the laugh this morning.
Related to Charlie McCarthy.
https://www.youtube.com/watch?v=dR0Ojo0FEig
NO NO NO!!! A thousand times NO to a Republican in the White House. They run the country into the ground to please the morbidly wealthy.
Yes yes yes
That was me
Please don't even mention Charlie in the same breath as that cheap knock-off Kevin with the fibreboard brain. :)
The McCarthy Kevin reminds me more of is Joe, who divided the country with his hateful fascism.
Charlie McCarthy? Ha!
Keith, I have been comparing Kevvy with Charlie McCarthy for some time now. I am glad you put it out here in writing. I suspect Charlie has more brain power than our little Kevvy, though. Charlie at least has some humor to his quips. Kevvy has only smug smirks that show the whole debt ceiling issue for him is a game he thinks he can win with the most appalling and cruel cuts to programs and services which would hurt millions of Americans, even his own constituents. I am thinking our Kevvy has a lack of humanity going and cares not a wit who is hurt. I am sure Charlie McCarthy cares more than our Kevvy does.
Keith: Maybe someone snatched his body...
https://en.wikipedia.org/wiki/Kevin_McCarthy_(actor)
The "Republicans" in Congress seem to be some really toxic combination of libertarian-anarchy-fascism and they must be stopped by Biden and the Democrats, if Democrats truly care.
This argument wins the day. It is correct. It is simple. They dare not comply! You are brilliant.
In a somewhat real or "lets apply common sense" world I would agree with you Robert...but as of recent times, in the last many "post Reagan years" going forward, "common sense actions" to support long term quality goals has been sorely lacking, thus we are where we today.
Fact based realities have been replaced with fictional conspiratorial nonsense with no basis in fact or the concern for facts, laws, precedent, population health, financial health, fairness, equity, for the masses. We, as a species, are still fighting wars over resources using everything from religious to conspiracy based excuses to kill and maim multiple thousands of innocent persons. Currency/money/power/control over others, are still the most important drivers and control the actions of the majority of the world for good and evil, and in most cases, survival.
I think we will probably survive this latest adventure down our historic self destructive path but...the pattern is tracked by the Doomsday Clock for all who care to see...90 seconds. The intensity of the threats to our existence have increased exponentially...our historic human search for a better understanding has not. We have consistently allowed a few bullies to dictate/manipulate our actions and activities with no regard for the known future consequences. In the past we have been willing and able to adapt... but technology without safe guards has us at 90 seconds and we have not changed or addressed, any of the causes affecting the negative progression of the timetable. I don't believe that technology, as it is used today, will be the answer we need. Anything that Biden can do to raise the debt ceiling will be a stop gap measure...an historic band aid if you will. One of many, while working toward a time when there's nothing left of substance in the way of baseline resources to be patched. The Earth has a finite resource base to support human life. Once used up...humanity perishes. We are in a race to the bottom.
Thanks for bringing the Doomsday Clock up. I finally decided to research who sets the Doomsday Clock that terrified me as a child and "nags at me" when I read stories such as Putin will ultimately use nuclear weapons. At some point, they started to include climate change in with nuclear holocaust. When did they do that? The Science and Security Board is of the Bulletin of Atomic Scientists. The DC was originally used by the creators of the Atomic Bomb to focus attention on the increase in number and potential catastrophic use of nuclear weapons. The Bulletin of Atomic Scientists is a corporation. Is it appropriate to keep using the Doomsday Clock to add to atmosphere of fear we live in? It engenders fear and doesn't promote rational thinking. They should stop it.
Gloria, it is not likely the Doomsday Clock will be stopped in its position because fearmongering is profitable these days. Keep people on edge and those in power can get them to do whatever they want done. Republicans use fearmongering all the time. Democrats need to pay attention to the "clock" only if to remind us all that global warming is real and that we need to stop permitting fossil fuelers to keep functioning as they have for the past couple of centuries. Then, we need to remind ignorant Republicans that limiting population is a positive since our planet has limited resources. Republican pushing forced birth is just plain stupid, but they don't depend much on intelligence these days, just anger, fear, hatred, and the rest of the negative emotions that keep their constituents on edge and sending them back into office while the planet edges closer to disaster. We can do better. Worrying over this artificial debt ceiling nonsense is a distraction that can keep people's focus from working toward renewable energy sources, adapting buildings to need less energy to operate, and dealing with harmful plastics, you know the real challenges we face. Then, there's the war machine that, nuclear or not, wastes so much of our resources and does so much damage. Can we stop men from starting wars, who knows, but we need to be able to do it because wars destroy and rarely offer anything positive in exchange for the death and destruction.
I didn't mean stop the clock. I meant stop sensationalizing and reporting on it and using the phrase. I agree we need to pursue solutions to all the problems you listed and not be distracted by the Republican's fear mongering and made up nonsense.
Gloria,
I appreciate your point although I think it vitally important to our survival to recognize the multiple dangers that now present themselves regarding our survival?
I think at the time on DC inception the use of nuclear weapons was the only clear immediate threat to humanities existence. The term Doomsday, "the last day of the world's existence","a time or event of crisis or great danger", refers to the end of the world as we know it, as a result of catastrophic (involving a sudden and large-scale alteration in state) activities. You and I are old enough to have lived through the changes and seen the addition of new and exciting world ending realities. Pandemics, threats of Cuban Crisis, Chernobyl, Three Mile Island, etc. Technology continues to advance but humanities control over technology is still lingering around in the dark ages..."...Build a Wall...".
I think the threat is real and we blindly continue along the path thinking that they/we/us can control others and their use of technology when in reality...they/we/us have proven time and time again...they/we/us can't, won't, or could care less about maintaining safe guards at the expense of profit/convenience/control...etc.
I agree with you that the threats need to be addressed. But the term "Doomsday Clock" inserted into any conversation has become a trigger, like the use of "dead babies" that diverts attention from the issue at hand to our lower, survival brain functions and away from rational thought in the moment. The Republicans are masters of this technique. Look how the term took me away from addressing your arguments concerning the debt ceiling.