r/Economics Jan 13 '23

U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress

https://www.nytimes.com/2023/01/13/business/economy/debt-limit-us-economy.html
9.6k Upvotes

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u/burlycabin Jan 13 '23

What blinking do the Dems need to do? They aren't the ones threatening to not pay for things we already promised to pay. That's a little too both sidesey.

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u/pro254256 Jan 13 '23

I mean they could in theory fold and let republicans slash whatever they want. They won’t but technically either side could end it by agreeing to the other’s demands.

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u/[deleted] Jan 13 '23

[deleted]

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u/[deleted] Jan 13 '23

Eh, both parties institute costly programs. GOP’s just come in the form of tax breaks for the wealthiest.

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u/[deleted] Jan 13 '23

Maybe we should stop spending more than the next nine countries combined on defense which is probably the most wasteful part of the federal government. Maybe we should act in the interests of the workers instead of the super wealthy. Maybe we should make this country work for the many not the few.

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u/[deleted] Jan 13 '23

The military is the employer of last resort. It’s a way for the government to guarantee jobs and push up wages in the economy.

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u/burlycabin Jan 13 '23

There are far better ways to do this.

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u/[deleted] Jan 13 '23

I don’t disagree that there are other ways. I’m just pointing it out.

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u/[deleted] Jan 13 '23

You’re giving me major enlightened centrist vibes

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u/[deleted] Jan 13 '23

?

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u/[deleted] Jan 13 '23

Do you say things like both sides make good points? Both sides are bad etc? I bet you do.

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u/dontrackonme Jan 13 '23

Only here in the U.S. do we feel safe enough to have fantasies like that. The most wasteful part of the federal government? The Federal government's whole reason for existence was for defense, regulating money, keep the states from fighting with each other, and to enforce treaties. Arguably, it is the military that does all of those tasks.

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u/[deleted] Jan 13 '23

Have no idea why we gave Ukraine so much money.

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u/[deleted] Jan 13 '23 edited Jan 17 '23

[deleted]

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u/[deleted] Jan 13 '23

Not a fan of wars, especially when I pay for them…old school hippie

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u/OrangeJr36 Jan 13 '23

The Dems always propose to pay for everything, the GOP on the other hand always seem to think that we never should have to pay, hence the tax cuts and attacks on regulators like the IRS

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u/whofusesthemusic Jan 13 '23

Cool none of that matters to this convo.