"If the mainstream media gets the debt ceiling wrong, how do we expect most Americans to get it right?"
By telling the truth: the national debt is NOT the same things as the deficit. Apparently, Jake Tapper et al haven't understood this. The debt includes the deficit, of course, but it also includes money Americans owe other Americans, so…
"If the mainstream media gets the debt ceiling wrong, how do we expect most Americans to get it right?"
By telling the truth: the national debt is NOT the same things as the deficit. Apparently, Jake Tapper et al haven't understood this. The debt includes the deficit, of course, but it also includes money Americans owe other Americans, so it's a nebulous concept that includes stuff like economic activity - so it can be a sign of economic activity.
The only thing you have to know is that throughout the 19th Century, at the peak of its wealth and power, Great Britain had a national debt that ran 150% of GDP, that's quite a bit higher than current US national debt. Yes, the Victorians ran a huge national debt, but kept their deficit under control.
The national debt is NOT a big deal. It's really depressing that this is even a news item. The "debt ceiling" is an artificial concept that goes up automatically because of inflation. It should be scrapped.
The problem is it's not understood by anyone what it actually IS, so it's kept as the useful scare tactic for manipulating the public as they need to. Nobody seems to have any way or DESIRE to get the public to understand what the real situation is, and those huge numbers are too useful to get rid of !
We’re not talking about the “national debt”, whatever that may be. We’re talking about the federal debt, which is the amount the federal government owes to various creditors.
Excellent post, but it also shows once again the urgent necessity for every elected Democrat to be all over all media explaining, elaborating, INFORMING the public.
"If the mainstream media gets the debt ceiling wrong, how do we expect most Americans to get it right?"
By telling the truth: the national debt is NOT the same things as the deficit. Apparently, Jake Tapper et al haven't understood this. The debt includes the deficit, of course, but it also includes money Americans owe other Americans, so it's a nebulous concept that includes stuff like economic activity - so it can be a sign of economic activity.
The only thing you have to know is that throughout the 19th Century, at the peak of its wealth and power, Great Britain had a national debt that ran 150% of GDP, that's quite a bit higher than current US national debt. Yes, the Victorians ran a huge national debt, but kept their deficit under control.
The national debt is NOT a big deal. It's really depressing that this is even a news item. The "debt ceiling" is an artificial concept that goes up automatically because of inflation. It should be scrapped.
The problem is it's not understood by anyone what it actually IS, so it's kept as the useful scare tactic for manipulating the public as they need to. Nobody seems to have any way or DESIRE to get the public to understand what the real situation is, and those huge numbers are too useful to get rid of !
Senate Democrats say their House counterparts should start working on a procedural maneuver known as a discharge petition as an emergency backup plan in case McCarthy continues to dig in his heels. However, Jeffries is not on board. https://www.nytimes.com/2023/04/07/us/politics/debt-ceiling-discharge-petition.html
Motions to Discharge Generally Under rule XV clause 2, a Member may file with the Clerk a motion (normally called a discharge petition) to discharge a committee from the consideration of a public bill or resolution that was referred to the committee 30 days prior thereto. https://www.govinfo.gov/content/pkg/GPO-HPRACTICE-108/html/GPO-HPRACTICE-108-20.htm#:~:text=The%20Discharge%20Rule%3B%20Motions%20to%20Discharge%20Generally%20Under%20rule%20XV,committee%2030%20days%20prior%20thereto.
We’re not talking about the “national debt”, whatever that may be. We’re talking about the federal debt, which is the amount the federal government owes to various creditors.
Excellent post, but it also shows once again the urgent necessity for every elected Democrat to be all over all media explaining, elaborating, INFORMING the public.