Pesky Budget and Debt again ..

[bedowin62]

The Treasury reached the current debt ceiling of $16.7 trillion on May 19th. Since then it has temporarily cut its borrowing from various internal accounts, using the resulting room to keep issuing Treasury bonds and bills. But it says it will exhaust those “extraordinary measures” on October 17th. Then what? The Treasury can make some payments out of current tax revenue and $30 billion of cash reserves. But within a matter of weeks it will have to withhold payment on something and thus, the Administration says, default on its “obligations”. That does not necessarily mean defaulting on its debt. It can still refinance maturing debt, since that won’t raise the outstanding amount. To avoid defaulting on an interest payment it could “prioritise” such payments out of incoming cash (a tactic many analysts expect). This would mean reneging on even more of its other obligations, whether Social Security, medical payments, military deployments or food stamps. If the government were forced to cut spending immediately to match incoming revenue, it would impose a hit worth 3.4% of GDP over a full fiscal year.


yup; it's so easy to just dismiss the connection, but if you cant see it, dont want to see the problem, then you just dont want to know.

 

[Soggy in NOLA]

Yeah, deficits and debt ceilings are totally unrelated... I mean, the fact that every year you need to go more into debt doesn't mean you're more in debt.

 

[Soggy in NOLA]

Seems to me that the only reason to up your credit limit is because you need to borrow more money which means you're spending more than you make.

But heh.. we can do this forever.. I mean, what are we up to now $.42 of every dollar we spend is borrowed? Yeah, that's sustainable.

You lefties are some stupid.

When has the debt ceiling not been raised?

Never.

It's theater for the rubes. The money was already spent before we got to the debt ceiling. That's what I mean about misdirection.

Eliminate the misdirection, and people will focus their attention where it should be focused. On the budget at the time it is being written.

I would wager there isn't a single person on this forum who has cracked open a federal budget and looked at it. Sheee-it. I would be surprised if the rubes have ever read any legislation more than a page long in their entire lives.

The smoke and mirrors works beautifully.

So.. I guess your plan is to just raise it every year into perpetuity?

What do you write, comic books?

 

[g5000]

$1.2 trillion in annual tax expenditures. You never hear a single politician talking about the biggest government gift program ever. The most colossal waste and fraud and abuse in the history of the Universe goes completely ignored.

That's by design. They have you rubes completely hoodwinked.

 

[bedowin62]

Seems to me that the only reason to up your credit limit is because you need to borrow more money which means you're spending more than you make.

But heh.. we can do this forever.. I mean, what are we up to now $.42 of every dollar we spend is borrowed? Yeah, that's sustainable.

You lefties are some stupid.

When has the debt ceiling not been raised?

Never.

It's theater for the rubes. The money was already spent before we got to the debt ceiling. That's what I mean about misdirection.

Eliminate the misdirection, and people will focus their attention where it should be focused. On the budget at the time it is being written.

I would wager there isn't a single person on this forum who has cracked open a federal budget and looked at it. Sheee-it. I would be surprised if the rubes have ever read any legislation more than a page long in their entire lives.

The smoke and mirrors works beautifully.

good one leftard, we may be getting somewher. now what is the solution from your "conservative" standpoint about what should be done "at the time it is being written"????

 

[g5000]

Seems to me that the only reason to up your credit limit is because you need to borrow more money which means you're spending more than you make.

But heh.. we can do this forever.. I mean, what are we up to now $.42 of every dollar we spend is borrowed? Yeah, that's sustainable.

You lefties are some stupid.

When has the debt ceiling not been raised?

Never.

It's theater for the rubes. The money was already spent before we got to the debt ceiling. That's what I mean about misdirection.

Eliminate the misdirection, and people will focus their attention where it should be focused. On the budget at the time it is being written.

I would wager there isn't a single person on this forum who has cracked open a federal budget and looked at it. Sheee-it. I would be surprised if the rubes have ever read any legislation more than a page long in their entire lives.

The smoke and mirrors works beautifully.

good one leftard, we may be getting somewher. now what is the solution from your "conservative" standpoint about what should be done "at the time it is being written"????

Gosh, how many times have I talked about tax expenditures? Easily a hundred times in the past year.

And it never got through your dense skull.

This is what I mean about being completely hoodwinked. Even when the crime is laid right at your feet, you are blind to it.

 

[g5000]

"Ban tax expenditures".

"$800 billion surplus".

"We could lower tax rates for EVERYONE".

"Serendipitous side effect of instant campaign finance reform".

Hello? Any of this ring a bell, rube?

 

[g5000]

Watch now. Because it is coming from me, the rube is going to believe this tax expenditure thing is a liberal plot.

 

[Dot Com]

"Ban tax expenditures".

"$800 billion surplus".

"We could lower tax rates for EVERYONE".

"Serendipitous side effect of instant campaign finance reform".

Hello? Any of this ring a bell, rube?

are you talking to bripat?

 

[Soggy in NOLA]

Hey, guys.... I'm attacking the idea of what they are doing.... both sides up there in D.C. are in on this mess. All I'm saying is that this cannot go on forever.. some of you cheer it on though year in and year out like it can just go on forever.. sure raise the debt ceiling! Sure, what's another $1,200,000,000,000 dollars!!!!!! YEAH!!!!!!!! Tax the 1%!!!!!!!!!

That's ******* absurd... this shit has to stop.

 

[Dante]

Pesky Budget and Debt again ..

yeah, pesky things like a budget

 

[Siete]

Pesky Budget and Debt again ..

yeah, pesky things like a budget

yeah, the budget Carson doesn't understand.

 

[Nyvin]

The budget just passed the House.....167 House Republicans voted against it, zero Democrats were against.

Proving yet again that the only way anything gets done in this Republican Majority Congress is with very significant help from the Democrats in the minority.

 

[Siete]

The budget just passed the House.....167 House Republicans voted against it, zero Democrats were against.

Proving yet again that the only way anything gets done in this Republican Majority Congress is with very significant help from the Democrats in the minority.

how funny ... hard to say Dems won't pass the budget.

 

[Rustic]

Ryssdal: All right, so let's talk about debt then and the budget. As you know, Treasury Secretary Lew has come out in the last couple of days and said, "We're gonna run out of money, we're gonna run out of borrowing authority, on the fifth of November." Should the Congress then and the president not raise the debt limit? Should we default on our debt?
Carson: Let me put it this way: if I were the president, I would not sign an increased budget. Absolutely would not do it. They would have to find a place to cut.
Ryssdal: To be clear, it's increasing the debt limit, not the budget, but I want to make sure I understand you. You'd let the United States default rather than raise the debt limit.
Carson: No, I would provide the kind of leadership that says, "Get on the stick guys, and stop messing around, and cut where you need to cut, because we're not raising any spending limits, period."

Like the majority of RW's on this board, Carson doesn't know the difference between the two either.
Small wonder idiots like Carson.

BTW ... Great answer Ben !

You can't pay a debt with debt, oh, wait we will just print more worthless paper.
Robbing Peter to pay Paul

 

[Dante]

Pesky Budget and Debt again ..

yeah, pesky things like a budget

yeah, the budget Carson doesn't understand.

maybe like Trump he'll do his homework at the last moment

 

[Dante]

The budget just passed the House.....167 House Republicans voted against it, zero Democrats were against.

Proving yet again that the only way anything gets done in this Republican Majority Congress is with very significant help from the Democrats in the minority.

how funny ... hard to say Dems won't pass the budget.

yeah, especially when Dems do not control the Congress

 

[Rustic]

The budget just passed the House.....167 House Republicans voted against it, zero Democrats were against.

Proving yet again that the only way anything gets done in this Republican Majority Congress is with very significant help from the Democrats in the minority.

Progressives voted yes...

 

[Siete]

Ryssdal: All right, so let's talk about debt then and the budget. As you know, Treasury Secretary Lew has come out in the last couple of days and said, "We're gonna run out of money, we're gonna run out of borrowing authority, on the fifth of November." Should the Congress then and the president not raise the debt limit? Should we default on our debt?
Carson: Let me put it this way: if I were the president, I would not sign an increased budget. Absolutely would not do it. They would have to find a place to cut.
Ryssdal: To be clear, it's increasing the debt limit, not the budget, but I want to make sure I understand you. You'd let the United States default rather than raise the debt limit.
Carson: No, I would provide the kind of leadership that says, "Get on the stick guys, and stop messing around, and cut where you need to cut, because we're not raising any spending limits, period."

Like the majority of RW's on this board, Carson doesn't know the difference between the two either.
Small wonder idiots like Carson.

BTW ... Great answer Ben !

You can't pay a debt with debt, oh, wait we will just print more worthless paper.
Robbing Peter to pay Paul

and you fit G500's rube mold to a T ... kudos