RAISING THE DEBT CEILING AND BIDEN’S INFRASTRUCTURE BILL

Republicans vow to vehemently oppose any increase in Our nation’s Budget Debt Ceiling when in fact the last current increase in Our Budgetary Debt Ceiling of $8 Trillion Dollars was approved unanimously by BOTH parties in 2017 when then President Trump to keep businesses and corporations from relocating to foreign countries to save on labor costs and our then high U.S. corporate tax rate of 35% was allowed to do so per the calculated proviso that such tax breaks including the near doubling of a Federal Income Tax Deduction affecting middle-class working families providing for more take-home pay would stimulate the U.S. economy to such an extent that extra taxes generated from the general resultant overall heightened productivity, business growth and increased GDP & GNP would offset any initial 2017 reduced levels of Income Tax.

However, such was not the case and here we are now facing a situation where the U.S. is literally running out of money to pay the salaries of federal government workers and businesses providing services to the Government!

So why won’t the Republicans approve raising the U.S. Federal Debt Ceiling?

Because they’re afraid if they do, this would “pave the way” for the Democrats to fund any increased spending needed for Biden’s 3.5 Trillion Infrastructure Bill despite Biden’s claim that this 3.5 Trillion Bill would be fully funded by its corporate, capital gains, and wealth tax rate increases and stepped-up auditing by the IRS to make sure corporations and the wealthy pay their fair share of taxes.

Now, although Republicans are in favor of the smaller Biden $1 Trillion Dollar Traditional Infrastructure Bill, the Democrats won’t allow for its passage unless Biden’s larger 3.5 Trillion Infrastructure Bill which deals with the trends of an inevitable Future–Climate Change and a weaning away from fossil fuels–New Green Energy and social “Infrastructure’ issues such as allowing women and families to better access the workplace by providing Child Care and Elder Care and for the young entering the workplace better finding (career) employment through free junior college education and trade school.

Addressing such issues NOW as Climate Change and New Green Energy will only help Our Economy by speeding up the process of creating WHOLE NEW INDUSTRIES AND JOBS FOR THOUSANDS OF PEOPLE WHO WILL THEN BE ABLE TO PAY TAXES TO HELP SUPPORT OUR GOVERNMENT!!

Also, by investing in helping with Child Care, Elder Care, free junior college education and trade school, this would allow those who cannot work because of family needs and obligations to enter our workforce and by providing free junior college education and trade school training would allow many to get better and higher paying employment—all of the above now being able to BETTER pay and contribute more Income tax to federal and state governments.

Not to mention—all the child care and elder care related jobs, centers and facility providers that would be created to provide such care and now all those workers and businesses paying THEIR TAXES AS WELL!

Also, this would ACTUALLY drive down the costs of such services TO WORKING PARENTS through competition as more centers and facilities are opened offering care. And as such costs become lower, then, perhaps, child care credit allowances are can re-addressed to satisfy any Republican opposition.

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WHAT CATASTROPHE POSSIBLY LIES AHEAD IF WE DO NOT ADDRESS OUR RISING NATIONAL DEBT???

The biggest problem caused by our now rising out-of-control National Debt is that we could lose our position as the world’s Global Currency if we don’t do something!!

If that were to happen the dollar would quickly lose its relative value compared to other currencies—What we sell to other nations, we would get less in return and what is imported here would be more expensive for each and all of us!!!

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With our National Debt surpassing the $34 Trillion Dollar mark and the current Debt Ceiling crisis again needing to be resolved this time by January 19th, Congress, at least, may have a temporary budget proposal in the works of 1.59 trillion dollars comprised of 886 billion designated for defense spending and another 704 billion in non-defense spending.

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WITH THE DEBT CEILING RAISED AND THE TREASURY TO AUCTION A RECORD $1 TRILLION IN BONDS TO REPLENISH ITS CASH BALANCE, DID THE FED’S RECENT DECISION TO “PAUSE” INTEREST RATE HIKES HELP?

First of all, just to lay some groundwork, the reason Congress is debating Raising The Debt Ceiling even though all the expenses and obligations in question is not some future-to-be debt but rather are expenses and obligations ALREADY incurred, The Problem is–there’s not enough money currently in the U.S. Treasury to pay these bills.

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RECENT BANK “RUNS” & FAILURES, INFLATION, THE FED’S INTEREST RATE HIKES AND THE DEBT CEILING–HOW IT ALL FITS

This “Perfect Storm” of Low Supply of Key Items–the raw materials and component parts that go into the manufacture and production of many things coupled with Excess Cash in the hands of both Business and Consumers leading to Price Increases for all these raw materials and component parts and ultimately for the finished goods and merchandise sold to The Consumer—This “Perfect Storm” of the “Worst of the Worst” of Coincidental “Gut Punches” leading to the Resultant Subsequent Compounded Inflation that we’ve had and are STILL experiencing!

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More Posts

WHAT CATASTROPHE POSSIBLY LIES AHEAD IF WE DO NOT ADDRESS OUR RISING NATIONAL DEBT???

The biggest problem caused by our now rising out-of-control National Debt is that we could lose our position as the world’s Global Currency if we don’t do something!!

If that were to happen the dollar would quickly lose its relative value compared to other currencies—What we sell to other nations, we would get less in return and what is imported here would be more expensive for each and all of us!!!

Read More »

THE CURRENT STATE OF OUR ECONOMY—OUR RECURRING DEBT CEILING CRISIS AND OUR RISING NATIONAL DEBT NOW SURPASSING A RECORD $34 TRILLION

With our National Debt surpassing the $34 Trillion Dollar mark and the current Debt Ceiling crisis again needing to be resolved this time by January 19th, Congress, at least, may have a temporary budget proposal in the works of 1.59 trillion dollars comprised of 886 billion designated for defense spending and another 704 billion in non-defense spending.

Read More »

WITH THE DEBT CEILING RAISED AND THE TREASURY TO AUCTION A RECORD $1 TRILLION IN BONDS TO REPLENISH ITS CASH BALANCE, DID THE FED’S RECENT DECISION TO “PAUSE” INTEREST RATE HIKES HELP?

First of all, just to lay some groundwork, the reason Congress is debating Raising The Debt Ceiling even though all the expenses and obligations in question is not some future-to-be debt but rather are expenses and obligations ALREADY incurred, The Problem is–there’s not enough money currently in the U.S. Treasury to pay these bills.

Read More »

RECENT BANK “RUNS” & FAILURES, INFLATION, THE FED’S INTEREST RATE HIKES AND THE DEBT CEILING–HOW IT ALL FITS

This “Perfect Storm” of Low Supply of Key Items–the raw materials and component parts that go into the manufacture and production of many things coupled with Excess Cash in the hands of both Business and Consumers leading to Price Increases for all these raw materials and component parts and ultimately for the finished goods and merchandise sold to The Consumer—This “Perfect Storm” of the “Worst of the Worst” of Coincidental “Gut Punches” leading to the Resultant Subsequent Compounded Inflation that we’ve had and are STILL experiencing!

Read More »