In the Middle of the Night While You Were Sleeping, Congress...

[Contumacious]

The deal gets rid of the ridiculous sequester and allows the government to function again

Like any good deal, neither side gets everything they wanted

Are WE THE PEOPLE on one of the sides?


Why does your Orwellian bullshit makes sense to you?


/

 

[g5000]

discussion:

"Are you saying that ADDING $7 TRILLION in 4 years was 'GOING UP'?"
No.

The addition of "money" into the economy by the Federal Reserve Board did not make the economy go up.
- Are you saying the Federal Reserve PRINTING MONEY LIKE TOILET PAPER is the 'addition of 'money' into the economy? 'Money' is earned or created through work/commerce and added to the economy as part of commerce. Printing more 'bills' / 'currency' and flowing the public is not really 'adding MONEY to the economy.

Actually, the Fed has indeed added trillions of dollars of money to the economy. The money supply has exploded since the crash.

However, the velocity of money has slowed to a crawl, which is why we have not seen inflation explode.

Look at it this way: The Fed could print 10 coins tomorrow, each worth a trillion dollars, and put them into circulation. But if the people with those coins buried them in their back yards, then there would be zero impact on inflation.

If one of those coins was put into circulation, there would still be minimal impact. If the country was in a deflationary cycle, and two of those coins were put into circulation, those two trillion dollars could reverse the deflation.

And that is what the Fed did. They stopped a deflationary death spiral. Trillions and trillions of dollars were wiped out in the crash.

 

[rightwinger]

The deal gets rid of the ridiculous sequester and allows the government to function again

Like any good deal, neither side gets everything they wanted

Are WE THE PEOPLE on one of the sides?


Why does your Orwellian bullshit makes sense to you?


/

For once, the process worked and we got a budget

We the People finally got the Congress we designed

 

[easyt65]

The deal gets rid of the ridiculous sequester and allows the government to function again

The DEAL allows politicians to tack on as much debt as they can / want to without asking the American People if it is OK with THEM if they do so, blowing past any Debt Ceiling that would otherwise exist.

Yeah, when you have a 'hard-on' to add Trillions more in debt to fund whatever else F*-ed up agendas you are pushing, the last thing you want is to be in-convenience with is debt ceilings or asking the American people who pay the taxes and who will be responsible for the tab if if is OK with THEM if you tack on that new debt!

The 'DEAL' (which is NOT one for the American people) gives Congress and Obama a BLANK CHECK with which to add as much debt as they want without having to worry about American people being reminded of what they are doing and then raising hell about it. It's sort of the same thing as why they automatically take your taxes (ALL OF THEM) out of your pay and why they just started tacking the Obamaphone tax right onto your phone bill without really bringing it to your attention -- If people actually got to see their own check and had to then write the govt a tax check every month the American people would notice and care a helluva lot more about government spending.

This way politician don't have to worry about the constraints of a pesky 'Debt Ceiling' and having to ask if they can exceed it without ever eliminating fraud, waste, abuse, pork etc...Now it's just 'put the pedal to the metal and spend away - 'No speed limit'!

 

[BluesLegend]

The GOP establishment has created a third party and pledged to caucus with Democrats to overrule the majority of Republicans. You can put a fork in the GOP presidential candidates, what the hell are they going to run on fiscal responsibility? Cutting spending? Reducing the debt? The GOP establishment just threw all that under the bus.

 

[easyt65]

[
The Fed has indeed added trillions of dollars of money to the economy. The money supply has exploded since the crash.

MONEY holds it's value and is worth something ... Printing paper like toilet paper and distributing it into the public - that paper.....devaluing the dollar, making it weaker.

 

[rightwinger]

The deal gets rid of the ridiculous sequester and allows the government to function again

The DEAL allows politicians to tack on as much debt as they can / want to without asking the American People if it is OK with THEM if they do so, blowing past any Debt Ceiling that would otherwise exist.

Yeah, when you have a 'hard-on' to add Trillions more in debt to fund whatever else F*-ed up agendas you are pushing, the last thing you want is to be in-convenience with is debt ceilings or asking the American people who pay the taxes and who will be responsible for the tab if if is OK with THEM if you tack on that new debt!

The 'DEAL' (which is NOT one for the American people) gives Congress and Obama a BLANK CHECK with which to add as much debt as they want without having to worry about American people being reminded of what they are doing and then raising hell about it. It's sort of the same thing as why they automatically take your taxes (ALL OF THEM) out of your pay and why they just started tacking the Obamaphone tax right onto your phone bill without really bringing it to your attention -- If people actually got to see their own check and had to then write the govt a tax check every month the American people would notice and care a helluva lot more about government spending.

This way politician don't have to worry about the constraints of a pesky 'Debt Ceiling' and having to ask if they can exceed it without ever eliminating fraud, waste, abuse, pork etc...Now it's just 'put the pedal to the metal and spend away - 'No speed limit'!

The deal provides for $40 billion a year in new spending and takes raising the debt limit off the table for the next two years

Using the debt limit as a way to force Congress to get your way is not the way for a rational government to operate

The system worked

 

[Contumacious]

The deal gets rid of the ridiculous sequester and allows the government to function again

Like any good deal, neither side gets everything they wanted

Are WE THE PEOPLE on one of the sides?


Why does your Orwellian bullshit makes sense to you?


/

For once, the process worked and we got a budget

We the People finally got the Congress we designed

How is it good for WE THE PEOPLE to have a budget which surpasses actual federal tax revenues ?


.

 

[g5000]

[
The Fed has indeed added trillions of dollars of money to the economy. The money supply has exploded since the crash.

MONEY holds it's value and is worth something ... Printing paper like toilet paper and distributing it into the public - that paper.....devaluing the dollar, making it weaker.

You are regurgitating some half-right tripe you heard, and not taking the velocity of money into account whatsoever.

Inflation is more than just a larger money supply. You are seeing a lack of the runaway inflation the ignorant Chicken Littles promised you, and thinking that means the money supply is not bigger.

It is bigger. Much bigger. It does not necessarily follow that the dollar is devalued. Especially since we are in a currency war. But that brings us to a whole other topic about internal and external devaluation which I suspect would be way above your head.

 

[rightwinger]

The deal gets rid of the ridiculous sequester and allows the government to function again

Like any good deal, neither side gets everything they wanted

Are WE THE PEOPLE on one of the sides?


Why does your Orwellian bullshit makes sense to you?


/

For once, the process worked and we got a budget

We the People finally got the Congress we designed

How is it good for WE THE PEOPLE to have a budget which surpasses actual federal tax revenues ?


.

It reduces the deficit and puts our government on sound footing

Our deficit has dropped from $1.4 trillion a year to under 400 billion in the last six years

 

[BluesLegend]

The deal gets rid of the ridiculous sequester and allows the government to function again

The DEAL allows politicians to tack on as much debt as they can / want to without asking the American People if it is OK with THEM if they do so, blowing past any Debt Ceiling that would otherwise exist.

Yeah, when you have a 'hard-on' to add Trillions more in debt to fund whatever else F*-ed up agendas you are pushing, the last thing you want is to be in-convenience with is debt ceilings or asking the American people who pay the taxes and who will be responsible for the tab if if is OK with THEM if you tack on that new debt!

The 'DEAL' (which is NOT one for the American people) gives Congress and Obama a BLANK CHECK with which to add as much debt as they want without having to worry about American people being reminded of what they are doing and then raising hell about it. It's sort of the same thing as why they automatically take your taxes (ALL OF THEM) out of your pay and why they just started tacking the Obamaphone tax right onto your phone bill without really bringing it to your attention -- If people actually got to see their own check and had to then write the govt a tax check every month the American people would notice and care a helluva lot more about government spending.

This way politician don't have to worry about the constraints of a pesky 'Debt Ceiling' and having to ask if they can exceed it without ever eliminating fraud, waste, abuse, pork etc...Now it's just 'put the pedal to the metal and spend away - 'No speed limit'!

The deal provides for $40 billion a year in new spending and takes raising the debt limit off the table for the next two years

Using the debt limit as a way to force Congress to get your way is not the way for a rational government to operate

The system worked

LOL why do you think they passed the debt limit in the first place, yes to reign in congress who could not control themselves on spending.

 

[easyt65]

The deal provides for $40 billion a year in new spending and takes raising the debt limit off the table for the next two years

How many Billoions was Obama authorized to add his 1st 4 years and how much of that $7 Trillion in new debt he added was UN-Authorized?

 

[Sallow]

Stop me if you have heard this one before:

In the Middle of the Night While You Were Sleeping, Congress...

NO, I'm NOT talking about Obamacare....NO, I'm not talking about the Trade Deal....NO, I'm not talking about Illegal Amnesty....

You know how much 'hell' Obama and the Democrats for adding almost $6 trillion in new debt, setting new US records for 'monthly', 'annual'. and 'total' deficit-spending records in the process? Well, the Democrats, with Mitch McConnell's help, made sure that won't happen again..... (The 'catching hell' part, NOT the record-setting deficit-spending and massive addition of new debt!)

"While most Americans slept, the Senate early Friday morning passed a massive budget deal suspending the debt limit into March 2017 and increasing federal spending over the next two years...."

You DON'T eliminate the Debt CEILING if you want / to CUT SPENDING and ELIMINATE DEBT. You eliminate the DEBT CEILING if you find it to be a nuisance and plan / intend on ADDING an ass-load of NEW DEBT!

This new 'BUDGET' busts spending caps, engages in accounting “gimmicks” and grants Obama unlimited borrowing power. (Yaaay! Giving the guy who added nearly $7 TRILLION in new debt, more than every US president COMBINED, the authority to 'legally' add as much new debt as he and the Democrats want / CAN in the next year/2 years is such a 'splendid' idea! )

In essence, Democrats - and 18 RINOs in the Senate - just bent the nation over as it slept.

the president added nothing. congress does the budget.

and i'm sorry you wackos can't unfund the things the government really needs to do.

want a tissue?

Cue the Wahbulance!

 

[Arianrhod]

Couple of things about these threads always amuse me:

(A) The number of people who believe governmental debt is the same as the credit cards in their wallets. It isn't
(B) "IT'S A SECRET DEAL THAT NOBODY KNOWS ABOUT!!!!!"

Well, except you found out about it and posted it here. So either it's not secret, or you're the nobody. Which is it?

 

[easyt65]

It reduces the deficit and puts our government on sound footing

Our deficit has dropped from $1.4 trillion a year to under 400 billion in the last six years

You are SO full of Shi'ite! How does doing away with the debt ceiling, that limits the amount of new debt Congress can add, REDUCE Government spending? You raise - or eliminate - the debt ceiling if you either plan to add more debt than that ceiling or do not want to be encumbered with a LIMIT

And we have NOT lowered our DEFICIT. Out Deficit is something like $18 TRILLION and growing. What has been lowered, SINCE Obama added $7 Trillion in 4 years and caused the 1st-ever US Credit Rating Down-grade, has been the lowering of the ANNUAL (BUDGET) DEFICIT. It's like when Liberals say, 'We've balanced the budget' when they really mean THIS YEAR we are actually not spending more than we are collecting in taxes - we are spending ever damn dime of it and are not really trying hard to reduce our national debt, but at least we're not adding more this year....when the INTEREST alone on the money we already owe is about 100% GDP!

If Congress wants to impress me, not only reinstate a Debt Ceiling but also pass a Balanced Budget Amendment that FORCES them to keep spending within the limits of what we collect in taxes WHILE making a serious effort to pay off our debt.

The announcement that the Debt Ceiling is Gone is a declaration to Americans to bend over and grab their ankles because 'here comes the deficit spending',

 

[Contumacious]

The deal gets rid of the ridiculous sequester and allows the government to function again

Like any good deal, neither side gets everything they wanted

Are WE THE PEOPLE on one of the sides?


Why does your Orwellian bullshit makes sense to you?


/

For once, the process worked and we got a budget

We the People finally got the Congress we designed

How is it good for WE THE PEOPLE to have a budget which surpasses actual federal tax revenues ?


.

It reduces the deficit and puts our government on sound footing

Our deficit has dropped from $1.4 trillion a year to under 400 billion in the last six years

And you calculated that how?


.

 

[C_Clayton_Jones]

The idiocy of most conservatives knows no bounds.

 

[Contumacious]

The idiocy of most conservatives knows no bounds.

The idiocy of most fascists knows no bounds.

 

[g5000]

Gold bugs like to point out that banks "create money out of thin air" in our fractional reserve banking system. They deliberately give the impression the dollar is being devalued every time a loan is made.

Through either sheer ignorance or willful lies of omission, they leave out the other half of the picture, thus leading their audiences into blind alleys about the whys and wherefores of economic crashes like the last one.

A bank does indeed "create money out of thin air" when they make a loan. But what the gold bugs don't tell you is the banks destroy that money as the principal is paid back. Therefore, a balance in the money supply is maintained.

The way problems occur is when loans default. That "thin air" money is still out there, and the bank is on the hook to destroy it to keep the money supply in balance. If the borrower can't pay back the loan (defaults), then the bank has to destroy IT'S money. It takes a loss.

And that is what happened in the crash. Banks did not have enough cash or hard assets to absorb all their losses. There was a giant deflationary sucking sound as hard cash and assets were going down the drain.

Ben Bernanke threw trillions of dollars into the economy to stop the death spiral.

No deflation, and no inflation. It's a very delicate balancing act.

But now there are about three trillion dollars more in the economy than there was before. But it's buried in back yards (metaphorically speaking), or moving around very slowly.

All that extra money won't be a problem until the economy starts heating up again, when money begins moving around faster and faster.

At that point, the Fed has to bring all that money back in and burn it. They do this by selling the assets they bought to introduce all that cash into circulation.

They "created money out of thin air", and then will have to destroy it by reversing the process.

Or...they are looking at a different way to curb inflation. Instead of selling assets, they will bribe banks to keep their extra cash buried in the back yard. The Fed will pay them a higher interest rate than what the banks would get if they loaned out the money.

You see, the assets the Fed bought are in a huge bubble. And if that bubble pops, they won't be able to sell those assets at the price they bought them. Their assets will be underwater. If you can't get back all the cash you put out there so you can destroy it, then the dollar will inflate.

And there is a very good chance that will happen because those assets are government bonds which will be worth a lot less when interest rates begin to rise. And interest rates rise when the velocity of money increases.

Fun times.

 

[Siete]

It reduces the deficit and puts our government on sound footing

Our deficit has dropped from $1.4 trillion a year to under 400 billion in the last six years

You are SO full of Shi'ite! How does doing away with the debt ceiling, that limits the amount of new debt Congress can add, REDUCE Government spending? You raise - or eliminate - the debt ceiling if you either plan to add more debt than that ceiling or do not want to be encumbered with a LIMIT

And we have NOT lowered our DEFICIT. Out Deficit is something like $18 TRILLION and growing. What has been lowered, SINCE Obama added $7 Trillion in 4 years and caused the 1st-ever US Credit Rating Down-grade, has been the lowering of the ANNUAL (BUDGET) DEFICIT. It's like when Liberals say, 'We've balanced the budget' when they really mean THIS YEAR we are actually not spending more than we are collecting in taxes - we are spending ever damn dime of it and are not really trying hard to reduce our national debt, but at least we're not adding more this year....when the INTEREST alone on the money we already owe is about 100% GDP!

If Congress wants to impress me, not only reinstate a Debt Ceiling but also pass a Balanced Budget Amendment that FORCES them to keep spending within the limits of what we collect in taxes WHILE making a serious effort to pay off our debt.

The announcement that the Debt Ceiling is Gone is a declaration to Americans to bend over and grab their ankles because 'here comes the deficit spending',

there ya go, make I up as you go along !!! LMAO


The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.

key word "existing" ... aka money that's been spent... NO NEW SPENDING COMMITMENTS...


confusing ain't it morons ?