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Yo're not going to do anything.
So are you saying that the Fed is issuing debt so that they can burn down an area so that the president can build a palace? If you are intimating that there is infighting to that extent amongst patricians then I am fine with it. I don't play violin though.
The issuer of debt is different. It just is. Sorry that it doesn't fit your narrative.
Yo're not going to do anything.
What does it matter with all the safe congressional districts out there and 3 long years until the presidential election?
True enough, I guess.
Heritage, the VRWC Stink Tank run by Confederate asshole Jim Demint?Unless we control spending, we're screwed.
The U.S. Has 20 Years Before Its Debt Will Reach Greek Levels
The federal deficit was 67 percent of our GDP in 2011, which is pretty bad, but not as bad as in that of the U.K., Italy, Japan, or Greece, according to a chart compiled by The Heritage Foundation, a conservative think tank. And, they claim, if our current rate of debt continues, we'll match Greece's current level in about 2030.
Using 2011 data from the International Monetary Fund and the Congressional Budget Office, Heritage illustrates the U.S. debt trajectory and places different financially-addled countries along its line. The CBO numbers are from an "alternative fiscal scenario," a budget outlook that assumes several policies that were set to expire would be renewed and both spending and tax cuts continue. Heritage tweeted the graph out today, a part of its Federal Budget in Pictures series.
Heritage's argument is that if the U.S. reaches Greece's debt level, the country will suffer similar economic distress. Regardless of what you draw from it, the graph does put national debt into perspective. The deficit is higher today than it has been in decades. It's not as bad as that of troubled European countries, but with some not-far-out cir stances, it could be.
http://www.theatlanticwire.com/natio...-levels/55607/
Like the 2008 crisis, the next US financial catastrophe will not be the amount of debt but the ING TENS OF $TRILLIONS in the financial casino that the Banskters will blow up and expect US to bail them out again.
not surprising that when you point out the very basic concept of "sovereign currency" you get a "I am rubber, you're glue" response, tbh...
I was reading a post online last night, about a guy doing the basic mistake of comparing the US economy with a household economy, and then wondering "what's going to happen when China and the Saudis call in their loans?"... I couldn't stop cracking up. Unfortunately, that's the general level of debate about the debt these days.
The USA excessive debt comes from Repugs UNFUNDED spurious, botched wars, from Repug tax cuts, and UNFUNDED Repug Medicare Advantage and Part D. Never has USA had a war with RAISING TAXES to pay for it.
The debt is a VRWC policy meant to over the 99% with austerity so the USA won't raise their taxes back to pay down debt.
GOP types couch the discussion in those terms and they vomit it back up. I really don't know what to do about the willfully duped.
I was reading a post online last night, about a guy doing the basic mistake of comparing the US economy with a household economy, and then wondering "what's going to happen when China and the Saudis call in their loans?"... I couldn't stop cracking up. Unfortunately, that's the general level of debate about the debt these days.
There are a good amount of house seats up for the midterms. From what I was reading, it is typical that the presidents party loses ground during those elections. It is not looking to be the case. Between that and the obvious impotence of RNC leadership, GOP types should be concerned.
The coalition of business groups, the religious right, and the morons of the South is set to fall apart. The 1994 Republican revolutions legacy will be gone. If the GOP is left with mavericks backed by various SPACs fighting over individual districts then they are going to have problems. Will they still be able to have political unity to forcefeed gerrymandered districts through state legislatures? their business model is in serious jeopardy.
a devastating refutation, I'm humbled.
about time, tbh
The GOP is a victim of it's own extremism...but it wouldn't even be possible without without ALEC money and talk show radio...it's no coincidence that Rush Limbaugh and Sean Hannity have a measurable influence on GOP politics...the old class GOP beware..
a cool case study on the decline of a political party at the Federal Level but rise at the state level..
sounding like the Repug House won't go along if the Senate bill doesn't screw up ACA enough.
This is looking bad
House Outlines Alternative to Senate Leaders’ Fiscal Deal
House Republicans tempered their demands to scale back President Obama’s health care law, announcing that they would soon vote on a proposal meant to counteract a less conservative plan coming from the Senate.
In contrast to the Senate plan which would do little to change the Affordable Care Act, the House plan would make minor changes to the law.
would eliminate subsidies for health care coverage for members of Congress and the president,
House Republicans ... opened their meeting Tuesday morning by singing “Amazing Grace.”
whether enough House Republicans, a group that is deeply divided over raising the debt ceiling at all, would get behind the plan.
House Republicans were extremely unhappy with the Senate plan.
“We’ve got a name for it in the House: it’s called the Senate surrender caucus,” said Representative Tim Huelskamp, Republican of Kansas. “Anybody who would vote for that in the House as Republican would virtually guarantee a primary challenger.”
http://mobile.nytimes.com/2013/10/16...?from=homepage
Of course, while this repulsive, repugnant, cretinous tea bag theatrics drags on, real Congressional business is ignored. That's what we get when you assholes send hate/destroy govt assholes to Congress. They don't GAFF about govt so shutting it down, not earning their salaries and perks is "honest" for them.
I know my household is big enough to offer a variety of T-bills to all my neighbors. I make my wife keep track of when they are due. Easy stuff ... My dog tells me when my cat goes to the doctor so we can provide Medicare assistance. Same doctor won't accept our parrot because that comes out of our Medicaid fund.
I was reading a post online last night, about a guy doing the basic mistake of comparing the US economy with a household economy, and then wondering "what's going to happen when China and the Saudis call in their loans?"... I couldn't stop cracking up. Unfortunately, that's the general level of debate about the debt these days.
A bit worried about next month as I owe social security to the all the animals.
This is is not working well...
Sounds like we will get hit with all this tea bagger extortionist again in Jan and Feb.
House Repugs ing it up, as usual
===========
House Republicans appear intent on extracting at least one concession: depriving members of Congress, the president, the vice president and White House political appointees of government contributions when they buy health insurance under the law’s new exchanges. Representative Eric Cantor of Virginia, the majority leader, said any proposal must reflect what he called “our position on fairness” — “no special treatment under the law.”
Those words have become code for legislative language that denies employer contributions to politicians forced into the exchanges by a clause in the original health care law.
http://www.nytimes.com/2013/10/16/us...debate.html?hp
How Republicans Came To Own Sequestration’s Devastating Cuts As A Victory
It may seem like ancient history, but sequestration was originally designed to be so unpalatable to both parties that the threat of its automatic budget cuts to both defense and non-defense programs alike would be enough to force lawmakers to come to a grand bargain budget agreement. As it first went into effect in March, Republicans tried to pin the blame for any negative consequences on President Obama. But they gradually came out in favor of sequestration’s devastating cuts and have now made it the baseline in the fight over funding the government.
Here’s how we got from “Obama’s sequester” to a Republican victory:
February 8: Boehner Dubs It #Obamaquester As the automatic cuts look likely to take effect, House Speaker John Boehner (R-OH) decides to brand sequestration the #Obamaquester on Twitter.
February 13: Sequestration Will Be A “Home Run” At a Politico event, Rep. Mike Pompeo says sequestration will be a “home run” for reducing spending.
February 17: Blame For Impact Lies With Obama While trying to downplay the impact of the cuts, Republicans also geared up to blame President Obama for the negative consequences. Sen. John Barrasso (R-WY) said on CNN, “I believe the president has a lot of authority that he can decide how this works, and, yeah, he can make it very uncomfortable, which I think would be a mistake on the part of the president, but when you take a look at the total dollars there are better ways to do this, but the cuts are going to occur.”
February 22: Sequestration “Must Be Done” Speaking to a reporter, Rep. Tom Price (R-GA) argues in favor of letting the cuts go into effect. Pointing out that the state of Georgia reduced its budget by 30 percent, he said, “Are you telling me we can’t cut 2.4 percent out of the federal budget?” He added, “It absolutely can be done, it must be done in order to get us on a path to get this economy rolling again.”
February 28: “Obama’s Sequester” As sequestration cuts were about to take place in a matter of days, the National Republican Congressional Committee calls it “Obama’s sequester” and warns that it will “cut devastating segments of our economy, instead of the billions in do ented waste.”
March: Republicans Decry The Closure Of White House Tours While the impact of sequestration was immediately felt by Meals on Wheels recipients, government contractors, and public schools, the closure of White House tours to deal with the cuts created an outcry among Republicans. Fourteen Republican Senators send a letter to President Obama questioning the decision.
April 22: Republicans Blame Obama For Flight Delays Sequestration’s cuts forced the Federal Aviation Administration (FAA) to furlough workers, leading to long flight delays for travelers. Republicans place the blame with Obama, again taking to twitter with a new hashtag: #ObamaFlightDelays. The uproar leads to quick bipartisan action to give the FAA more flexibility and bring the furloughed workers back.
April 26: Sequestration Is “Actually Working” Sen. John Boozman (R-AR) became one of the first Republicans to say that sequestration had a positive impact, saying, “You know, you can knock sequestration or not knock it, but it’s worked in the sense that hit has forced reduction in spending. And I’ve been here 11 years and this is the first time I’ve seen it in this manner, in the sense that it is something that’s actually working.”
May 1: People “Want To See More Sequestration” Rep. Billy Long (R-Mo.) joined him a few weeks later to say that Americans are in favor of the cuts. “The people that I’ve talked to seem to be doing well,” he says. “In fact, when I got out in restaurants here in town, people come up to me. They want to see more sequestration, not less.”
May 16: Sequestration “Legitimate” Way To Cut The Budget House Judiciary Chair Bob Goodlatte (R-VA) joins the chorus, pushing back on “the administration attempt[ing] to vilify sequestration” which he says is “a legitimate effort to cut 2.5 percent of the entire federal budget.”
July 10: Republicans Push Cuts Deeper Than Sequestration House Republicans on the Appropriations Committee release a budget plan that increases sequestration’s cuts to most programs while simultaneously lessening the impact on defense programs.
July 31: House Fails To Implement Cuts That Go Further The House is supposed to vote on an appropriations bill for transportation and housing programs that includes cuts that go deeper than sequestration. But when Republican members have to vote to implement these specific reductions, so many balk that the vote is pulled for a lack of support. Given the inability of Republicans to implement the specifics, Rep. Hal Rogers (R-KY) says, “I believe that the House has made its choice: Sequestration — and its unrealistic and ill-conceived discretionary cuts — must be brought to an end.”
September 20: Sequestration Becomes Baseline In Shutdown Fight As the September 30 deadline to keep the government funded with a continuing resolution (CR) approaches, House Republicans, joined by two Democrats, pass a CR at sequestration’s levels. In the ensuing fight, this becomes the “clean” version of the CR.
October: Sequestration “One Of The Good Things That Happened” Rep. Jim Jordan (R-OH) argues on Fox News that sequestration “has been one of the good things that has happened” and vows that in the House, “We’re not going to break the sequester cap” in ongoing negotiations to re-open the government.
While Republicans have decided to own sequestration’s cuts, the devastation continues to take a toll around the country.
More than 57,000 low-income preschoolers lost their slots in Head Start.
The home-bound elderly are getting fewer visits from Meals on Wheels.
More than 650,000 employees at the Department of Defense have been furloughed.
Cancer patients have been denied chemotherapy.
Low-income families are being denied housing vouchers and the homeless are getting less support.
Domestic violence victims are being turned away from support programs.
Unemployment checks for the long-term unemployed have been reduced.
Schools on or near military bases and Native American reservations have had to lay off staff and close schools.
Other public schools have increased class sizes and fired staff.
Scientists have had to fire people and shutter projects.
And it’s taken a big toll on the economy. The Congressional Budget Office found that undoing sequestration could add as much as 1.2 percent to GDP and create 1.6 million jobs.
The cuts have been a drag on growth, consumer spending, and wages.
http://thinkprogress.org/economy/201...sequestration/
House Republican leaders, who had appeared stymied in their efforts earlier in the day, rushed out a new proposal Tuesday afternoon that would reopen the government through Dec. 15, extend the government’s borrowing authority until Feb. 7 and eliminate government contributions to lawmakers, White House officials and their staffs for their purchases of health insurance on the new insurance exchanges.
Under the new plan, the Treasury Department would be forbidden to use “extraordinary measures” — juggling government accounts — to extend its borrowing capabilities. Speaker John A. Boehner was hoping to bring a bill to a vote as early as Tuesday evening.
http://www.nytimes.com/2013/10/16/us...fC8Z+wsLs3pY6A
This sure looks like Treasury is going to default Thursday.
The Ghost of Authoritarianism in the Age of the Shutdown
A new type of criminal regime now drives American politics, one devoid of any sense of justice, equality and honor.
It thrives on fear, the false promise of security and an egregious fusion of economic, religious and racist ideologies that have become normalized.
This new dystopia wants nothing more than the complete destruction of the formative culture, collectives and the ins utions that make democracy possible.
Inequality is its engine, and disposability is the reward for large segments of the American public.
It ideologies and structure of politics often have been hidden from the American public. The shutdown and debt-ceiling crisis have forced the new authoritarianism out of the shadows into the light.
The lockdown state is on full display with its concentrated economic power and the willingness of the apostles of authoritarianism to push millions of people into ruin.
Paraphrasing Eric Cazdyn, all of society is now at the mercy of a corporate, religious, and financial elite just as "all ideals are at the mercy of [a] larger economic logic."31
The category of is alive and well in the racist and imperial enclaves of the rich, the bigoted, the bankers and hedge fund managers.
http://truth-out.org/opinion/item/19...f-the-shutdown
So how many orders of magnitude more destructive will our default be than Russia's 1998 default?
impossible to say, but surely the ToWealthyToFeelPain Kock Bros and other wealthy assholes who put the Kock-sucker House tea baggers into office, and who threaten to primary any House Repug non-tea bagger who doesn't vote with the tea baggers, will not suffer any destruction.
You're an idiot.
The principles of economics and supply and demand do not go away as things get bigger. They just get more complex as more variables are added.
And you think some dumbass technocrat with a lousy track record can micromanage them all without it all going to eventually. Oops, too late.
Last edited by angrydude; 10-15-2013 at 08:06 PM.
It's not the size or complexity of the economy. It's that fact that the US controls it's currency. It is a sovereign currency. This is not the case with Greece. The two situations are completely incomparable. Why is this so ing hard for you morons to understand?
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