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Old 11-21-2016, 12:34 PM
 
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There's no ceiling on debt, only a fixed date after which they can't borrow unless Congress authorizes the government to do so. Whatever the government has borrowed up to March 16, 2017 will be the debt ceiling and the government will spend down its cash and borrow some emergency funds from some accounts until a new debt authorization law is enacted. Since there's no fixed ceiling, the Treasury will probably borrow extra funds before the deadline to allow more time to operate without a new law in place.

Not much real blockage by Congress in the past since the 2011 impasse resulted in a credit rating downgrade.
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Old 11-21-2016, 02:09 PM
 
Location: Secure, Undisclosed
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Letís see:

M1 (Money Supply Ė in circulation) = $3,340,500,000,000
M2 (M1 plus timed deposits) = $13,137,500,000,000

Total US debt (at 4:07 PM EST) = $19,864,342,300,000

Yup. We owe more than there is...
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Old 11-21-2016, 02:25 PM
 
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the amount of federal debt is just one small component of what drives inflation. some of our policymakers understand this, some don't.

it's not something the voting public is wired to understand. Joe Sixpack thinks that federal public debt of a sovereign nation that manages its own currency should be exactly like his household finances.
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Old 11-21-2016, 02:30 PM
 
8,852 posts, read 3,912,337 times
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Quote:
Originally Posted by Rescue3 View Post
Letís see:

M1 (Money Supply Ė in circulation) = $3,340,500,000,000
M2 (M1 plus timed deposits) = $13,137,500,000,000

Total US debt (at 4:07 PM EST) = $19,864,342,300,000

Yup. We owe more than there is...
The US national debt in US dollars is equal to the sum total of savings in US dollars.
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Old 11-21-2016, 02:34 PM
 
22,769 posts, read 26,159,891 times
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Quote:
Originally Posted by Hoonose View Post
The US national debt in US dollars is equal to the sum total of savings in US dollars.
i have no idea why you think this, but this is incorrect.
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Old 11-21-2016, 02:35 PM
 
22,769 posts, read 26,159,891 times
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Quote:
Originally Posted by Leo58 View Post
Trump has made the statement that now is a good time to add debt since interest rates are low. He may be right.
i agree with trump on this, which was not easy to type into the keyboard.
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Old 11-21-2016, 02:36 PM
 
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Quote:
Originally Posted by le roi View Post
i have no idea why you think this, but this is incorrect.
Why or where is it not?
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Old 11-21-2016, 02:38 PM
 
22,769 posts, read 26,159,891 times
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Quote:
Originally Posted by Hoonose View Post
Why or where is it not?
Again, you gave me no reasoning for the statement so I can't really analyze it. It'd be like saying "The sky is green and the grass is purple."
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Old 11-21-2016, 03:03 PM
 
8,852 posts, read 3,912,337 times
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Quote:
Originally Posted by le roi View Post
Again, you gave me no reasoning for the statement so I can't really analyze it. It'd be like saying "The sky is green and the grass is purple."
Well let's see...

Private bank deposits:

https://fred.stlouisfed.org/series/WSAVNS

Deposits at the Fed:

https://fred.stlouisfed.org/series/WALCL

Foreign holdings:

http://ticdata.treasury.gov/Publish/mfh.txt

9T + 4.5T + 6.1T = 19.6T
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Old 11-21-2016, 03:19 PM
 
5,721 posts, read 5,455,083 times
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Quote:
Originally Posted by Leo58 View Post
Trump has made the statement that now is a good time to add debt since interest rates are low. He may be right.

He is right. Of course, Paul Krugman has been saying this for years.
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