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Who will be accountable when interest rates jack through the ceiling? And our unstable economy, held in check with low interest rates, crashes, anyone who has taken Economics 101 sees the looming crisis here...
This is more than health care, and a few old people bullied at Yellowstone.
This pi$$ing match could destroy our economy. Anyone laughing now?
I am sure China and Japan, and other countries are... Laughing all the way to the bank when our dollar crashes.
Well, first off interest rates being kept this low is/will destroy us medium term anyway. Anyone who doesn't realize keeping rates at these levels by printing $$$$$$$$$$$$$$$$$$$$$$$$ and the fact interest rates will rise eventually has no clue about economics.
A crisis is and has been looming for years and was just delayed for a bit by the bailouts. The way I see it is buy what you're going to buy via loans now or soon before rates do what they have to do and go sharply UP.
Who will be accountable when interest rates jack through the ceiling? And our unstable economy, held in check with low interest rates, crashes, anyone who has taken Economics 101 sees the looming crisis here...
This is more than health care, and a few old people bullied at Yellowstone.
This pi$$ing match could destroy our economy. Anyone laughing now?
I am sure China and Japan, and other countries are... Laughing all the way to the bank when our dollar crashes.
30 years from now - nobody will remember the names Boehner & Reid. Everyone will remember Obama. He likes to pretend it's not so - but the Buck does stop at the Oval Office. They talk of the Clinton economy and rarely mention Gingrich, the talk of the Carter economy and even I don't remember who was speaker, the talk of the Bush economy and rarely mention Pelosi or the other speakers. This is on Obama and will remain on Obama in the future. He is the President and the Commander in Chief. The "I WON" guy.
30 years from now - nobody will remember the names Boehner & Reid. Everyone will remember Obama. He likes to pretend it's not so - but the Buck does stop at the Oval Office. They talk of the Clinton economy and rarely mention Gingrich, the talk of the Carter economy and even I don't remember who was speaker, the talk of the Bush economy and rarely mention Pelosi or the other speakers. This is on Obama and will remain on Obama in the future. He is the President and the Commander in Chief. The "I WON" guy.
Yep. And SCOTUS has established that SS benefits are NOT an owed debt.
You can rationalize all you want, but if the government stiffs SS benefits, or payments to the widows and orphans of soldiers, or any other of its customary and usual payments...WE ARE A DEADBEAT NATION!
If you pay your mortgage but run out of the restaurant without paying the tab, you are a deadbeat.
I cannot believe otherwise intelligent people are acting as if we can stiff a whole laundry list of people and it will be just fine. Sheesh.
30 years from now - nobody will remember the names Boehner & Reid. Everyone will remember Obama. He likes to pretend it's not so - but the Buck does stop at the Oval Office. They talk of the Clinton economy and rarely mention Gingrich, the talk of the Carter economy and even I don't remember who was speaker, the talk of the Bush economy and rarely mention Pelosi or the other speakers. This is on Obama and will remain on Obama in the future. He is the President and the Commander in Chief. The "I WON" guy.
Oh, if Boehner allows the U.S. to default on the debt, history absolutely will remember his name. This is the one saving grace the country has right now. I really doubt a moderate country club Republican like Boehner is going to want his legacy to be that he destroyed the country's economy. He has a huge ego. Let's hope it plays in the country's favor.
I find it funny that NO dem is talking about CUTTING SPENDING as a way to have more revenue to go to debts.
If ANYONE doesn't think there are BILLIONS of dollars that are wasted isn't facing reality.
POTUS only needs to cut around $50B from his $3+ T budget. That should cut out funding some war mongering. I am in favor of a strong military but not nation building where our presence is not wanted. I don't particularly want to build those nations as is. Cut the foreign aid. Who aids the USA?
ACA is going to sink the economy and those who passed it don't care as they will be swimming in dirt by the time it goes really bad.
Libs want to down old white people and baby boomers...who are their heroes? Old white hippies, old black civil rights activists and baby boomers. Clinton, Obama, Pelosi and other losers fall into the category as do many conservatives. What's their point?
Federal Government needs to be pared by 20% as is. There are too many federal employees who produce nothing as government is not a for profit organization and it is a service industry at best.
20% of most federal crap could be eliminated without disrupting SS/Medicare/Medicaid.
Here is but one way. If/when the government opens a field office it more than likely will construct a building for said office rather than leasing/buying an existing structure. Why not lease/buy? There may be existing problems with the structure that may lead to problems - usually ending up in future legal entanglements. People are sue happy and federal employees are skilled at finding reasons to do so. The existing structure will need to be fully renovated to meet all EPA working environment standards and will cost about the same as new construction.
If constructing a new building the government has so much bureaucratic red tape involved the price is double what it ever should be.
After a workplace is established federal government practices usually means twice as many people will be brought on board than needed at high salaries. In a lot of cases it means too few overpaid employees with no real experience in the field so little gets done for a while. These employees include the usual unnecessary managers with no one to manage. Hence yet another dysfunctional field office.
Dilbert or The Office has nothing on the federal government.
You can rationalize all you want, but if the government stiffs SS benefits, or payments to the widows and orphans of soldiers, or any other of its customary and usual payments...WE ARE A DEADBEAT NATION!
If you pay your mortgage but run out of the restaurant without paying the tab, you are a deadbeat.
But not in default.
Quote:
I cannot believe otherwise intelligent people are acting as if we can stiff a whole laundry list of people and it will be just fine. Sheesh.
Why not? Social Security can stiff people who paid into the system for decades. So says SCOTUS.
Oh, if Boehner allows the U.S. to default on the debt, history absolutely will remember his name. This is the one saving grace the country has right now. I really doubt a moderate country club Republican like Boehner is going to want his legacy to be that he destroyed the country's economy. He has a huge ego. Let's hope it plays in the country's favor.
You have a a fault in your post...
The default is on Obama as he won't accept the fact the house will fund the government but not ACA. They don't have to, constitutionally. That is law and a fact of life.
Libs need to learn how government works and realize this is all due process.
One of the nation’s top credit-rating agencies says that the U.S. Treasury Department is likely to continue paying interest on the government’s debt even if Congress fails to lift the limit on borrowing next week, preserving the nation’s sterling AAA credit rating.
In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.
Not so, Moody’s says in the memo dated Oct. 7.
” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt.
There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.
No Armageddon and total chaos? The President lied in his speeches the last 3 days?
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The Moody’s memo goes on to argue that the situation is actually much less serious than in 2011, when the nation last faced a pitched battle over the debt limit.
Treasury Department officials did not immediately respond to requests for comment.
President Stompy Foot thinks the Financial experts & Credit Ratings people don't know MATH. Obama is all politics all the time, he doesn't care who get's hurt and is all about his fear mongering and deliberate divisiveness.
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Moody's says Obama is wrong.
The President lied in his speeches the last 3 days?