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Yep, Republicans have strapped on their suicide vests and have walked into Congress declaring they'll destroy the global economy unless everyone gives them what ever they want. They're once again declaring they'll force America to default on its national debt just because they can, they are irrational and deeply evil people. They had no problem voting to spend the money but now that the bill is due they suddenly are once again declaring they'll never ever pay it and instead just force the nation to default.
It should be pointed out that the nation's debt service costs have NEVER been lower, that we are now getting net negative real interest rates on 30 year T-bills so it literally is free money. Hell, just refinancing old high interest debt to new net negative real interest rate debt would save mountains of cash but the Republicans, as stupid and evil as always, continue to insist they'll burn every thing down unless we gut social security. No, there is no crisis but they're determined to make one just so they can grandstand. It looks like we're set for yet another Republican extremist shut down of the government as well as another "tea party credit downgrade" when they once again threaten default.
They, well the Tnut portion, aren't the brightest bulbs in the package.
The fight will start in earnest and will need a lot of people to exercise their voices in what needs to be done. First of all, make sure Congress allows for the payment of bills they rang up.
2. Have the Senate pass a BALANCED BUDGET, not spending every single penny taken in, but putting some in savings, for use to
A) pay down debt at the end of the fiscal year,
and
B) use in the event of an emergency. (Or is this too much to ask for)
If they cannot, the fist bill that needs to stop being paid is the paycheck for all Senators and Representatives.
We already hit the debt ceiling with no fanfare.
Geithner is now doing some type of magic dance to pay the bills for the next two month.
(actually using federal pension money to pay bills for the next 2 months instead of investing it).
There is no fight. We hit $16 trillion and have bills to pay on 12/31.
The dog and pony dance is happening while they all know it has to be raised.
Geithner is now doing some type of magic dance to pay the bills for the next two month.
(actually using federal pension money to pay bills for the next 2 months instead of investing it).
There is no fight.
There will be a fight, there will be brinksmanship and there will be concessions on both sides.
I'm not sure how you can take the most basic summary I gave you of the 'extraordinary measures' available to treasury and further boil it down to 'federal pension money' and magic; that's both incomplete and silly.
2. Have the Senate pass a BALANCED BUDGET, not spending every single penny taken in, but putting some in savings, for use to
Yeah, because the budget House Republicans proposed last year, which they ALL voted for, ADDED $6 trillion in new debt even while it gutted everything from medicare to social security to education to infrastructure. Yep, that's who should be lecturing people about not adding to the debt all right. Luckily, the Senate ignored the extremism & hypocrisy of house Republicans.
I don't know if you're just completely ignorant or deliberately lying but either way you need a new talking point; one which is at least a little bit based on reality.
Yeah, it will be the same dance we had before. And they will wait until the last minute.
Little will get accomplished and the debt ceiling will be raised.
It's already happened twice before and I see nothing to make the next one any different.
Gingrich has it right. The debt ceiling should cause no fight. It is simply America honoring debt already incurred.
The debate needs to be around future spending in other venues, plus sequestration.
All a debt ceiling delay will do is decrease our credit rating adding to future interest cost.
There will be a fight, there will be brinksmanship and there will be concessions on both sides.
I'm not sure how you can take the most basic summary I gave you of the 'extraordinary measures' available to treasury and further boil it down to 'federal pension money' and magic; that's both incomplete and silly.
No it's not, That's what Geithner did last time..they used the Federal pension money to pay the bills and repaid it when the ceiling got raised. That "magic dance" was just my tongue in cheek remark and I did note in parens what he was actually doing.
From the link I posted:
Such measures includesuspending the reinvestment of federal workers' retirement account contributions in short-term government bonds.
By taking those steps, Treasury can buy about $200 billion of headroom.
I like this approach, but the democrats have mastered winning elections without governing. As you well know, they haven't proposed or passed a budget in three years. Obama gave a speech about a budget once, but the CBO head said they don't score speeches, and his fellow dems voted 97-0 not to bring it to a vote. At least his speech was more than Reid has proposed. They could tell you why Paul Ryan's budget would end life as we know it, but god forbid they put out a budget of their own.
Now we have Obama telling Boehner that the country doesn't have a spending problem:
All spending bills must, via the Constitution, originate in the House of Representatives, controlled by Republicans. If they want to reduce spending they have the means to do so -- not complain that the government must borrow to pay for the spending that they voted for.
All spending bills must, via the Constitution, originate in the House of Representatives, controlled by Republicans. If they want to reduce spending they have the means to do so -- not complain that the government must borrow to pay for the spending that they voted for.
All spending bills must, via the Constitution, originate in the House of Representatives, controlled by Republicans. If they want to reduce spending they have the means to do so -- not complain that the government must borrow to pay for the spending that they voted for.
correct....and the budgets PASSED in the house, but got TABLED by dirty harry in the senate...hense, no budget passed and signed by the potus
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