Treasury Secretary Mnuchin frantically calls for debt ceiling increase

[NYcarbineer]

"WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the federal debt limit “as soon as possible” so the government can pay employee benefits and other obligations."

Why???

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

Oh my. Isn't that a surprise?

Uh, no, it isn't.

U.S. Treasury Secretary Mnuchin urges Congress to raise debt ceiling a

 

[TNHarley]

Ugh
Meet the new boss. Same as the old one. And the one before that. etc

 

[Bootney Lee Farnsworth]

Ugh
Meet the new boss. Same as the old one. And the one before that. etc

It's always the same boss, just a new puppet.

 

[NYcarbineer]

Oh, and from another link,

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Steven Mnuchin tells Congress to raise debt ceiling as soon as possible

 

[Bootney Lee Farnsworth]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

 

[NYcarbineer]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

 

[Bootney Lee Farnsworth]

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

That's an excuse. They always use that excuse. I would like to see those projections.

Here's an idea.

Cut foreign aid in half, then talk about raising the debt ceiling.

Every person and business on Earth has to budget and cut back when money is not there....EXCEPT FedZilla.


I would vote to reduce the debt ceiling to a percentage, like 0.5% of the GDP or something.

 

[Bootney Lee Farnsworth]

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

A lot of people would accept the burden of higher taxes if the spending was in the same universe as that which normal businesses and people deal with everyday. I would pay higher taxes if Congress was forced to budget payments toward the national debt, and forced to save and invest 10% of all revenues.

As long as spending and debt increase is out of control with no savings, we may as well keep more of our money. We're gonna need it to buy hard commodities like physical gold, in preparation for the huge collapse of U.S. currency.

This should not be a partisan issue, generally speaking, unless the goal is the collapse of the U.S., which could be the case.

 

[NYcarbineer]

[

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

So, just in case any of you were wondering where that extra money in your paychecks came from, that's where it came from.

 

[Auld Phart]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

You're forgetting the balanced budgets, thanks to a Republican Congress, under Clinton?

 

[Harpy Eagle]

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

A lot of people would accept the burden of higher taxes if the spending was in the same universe as that which normal businesses and people deal with everyday. I would pay higher taxes if Congress was forced to budget payments toward the national debt, and forced to save and invest 10% of all revenues.

As long as spending and debt increase is out of control with no savings, we may as well keep more of our money. We're gonna need it to buy hard commodities like physical gold, in preparation for the huge collapse of U.S. currency.

This should not be a partisan issue, generally speaking, unless the goal is the collapse of the U.S., which could be the case.

you know, there is a huge collapse of U.S. currency it will bring the world wide system down and your gold will be as worthless as your paper dollars. The US does not go down alone, it would be an end to the current economic system as we know it. Everything would be back to a barter system.

The only things that will hold value are things that are needed and usable. Food, seeds, medicine, bullets, those things will have value. Skills like medical traiinng, hunting, fishing, and etc. will also have value.

Try and trade your gold for someone's bullets and you will likely just end up getting shot.

 

[NYcarbineer]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

You're forgetting the balanced budgets, thanks to a Republican Congress, under Clinton?

Or, thanks to the Clinton tax increase in 1993, aka, the biggest in history at that point?

 

[DGS49]

The legal/Constitutional argument about whether an increase in the nation's debt must be supported by legislation is not entirely conclusive. All of our money is fiat money anyway, so what difference does it make? Spend away.

But of course, the national debt is a national disgrace - the product of cowardly legislatures, coupled with a greedy and cheap public that wants generous government benefits without having to pay for them.

Imagine what would have happened if Bush43 had said before invading Iraq, "I want to invade Iraq, but in order to ensure that I have America's buy in, I want an immediate re-implementation of the military draft, and a Federal income surtax of 10% to pay for it."

It makes perfect sense, and it should have been done (of course, the American public would have told him to go out and commit an impossible auto-erotic act). And his failure to do so played a large part in convincing Americans that "we" can get whatever we want out of our Federal government, without having to pay for it.

So fuck us all.

 

[Bootney Lee Farnsworth]

So, just in case any of you were wondering where that extra money in your paychecks came from, that's where it came from.

But, the attitude about that "extra money" is a huge problem. FedZilla and its handlers (congress) act like they have given us a raise. They act like we got some sort of hand out or unearned bonus. It is FedZilla's lack of respect, gratitude, and stewardship owed to the taxpayer that causes so much anger and fighting over taxation.

We earned that money. FedZilla just took a little less of it.

With that attitude adjusted, FedZilla has a chance to start behaving responsibly.

What do normal, responsible people do when they have a job loss or job change that results in lower income?

 

[Bootney Lee Farnsworth]

Imagine what would have happened if Bush43 had said before invading Iraq, "I want to invade Iraq, but in order to ensure that I have America's buy in, I want an immediate re-implementation of the military draft, and a Federal income surtax of 10% to pay for it."

I agree with this concept.

Only necessary military action would fly if every citizen is forced to immediately suffer the consequences of such decisions.

 

[Auld Phart]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

You're forgetting the balanced budgets, thanks to a Republican Congress, under Clinton?

Or, thanks to the Clinton tax increase in 1993, aka, the biggest in history at that point?

right...

they balanced the Budget, 2-3 times, because of a tax increase 5 years earlier.

Nothing to do with Gingrich holding Clintons feet to the fire.

You're too much

 

[BuckToothMoron]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

 

[Bootney Lee Farnsworth]

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

A lot of people would accept the burden of higher taxes if the spending was in the same universe as that which normal businesses and people deal with everyday. I would pay higher taxes if Congress was forced to budget payments toward the national debt, and forced to save and invest 10% of all revenues.

As long as spending and debt increase is out of control with no savings, we may as well keep more of our money. We're gonna need it to buy hard commodities like physical gold, in preparation for the huge collapse of U.S. currency.

This should not be a partisan issue, generally speaking, unless the goal is the collapse of the U.S., which could be the case.

you know, there is a huge collapse of U.S. currency it will bring the world wide system down and your gold will be as worthless as your paper dollars. The US does not go down alone, it would be an end to the current economic system as we know it. Everything would be back to a barter system.

The only things that will hold value are things that are needed and usable. Food, seeds, medicine, bullets, those things will have value. Skills like medical traiinng, hunting, fishing, and etc. will also have value.

Try and trade your gold for someone's bullets and you will likely just end up getting shot.

You're right. Can't disagree.

I guess my expensive-as-fuck, carbon fiber bicycle will be much more practical if there is a collapse.


People have laughed at cyclists for years. I guess we'll have the last laugh.

 

[gipper]

"WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the federal debt limit “as soon as possible” so the government can pay employee benefits and other obligations."

Why???

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

Oh my. Isn't that a surprise?

Uh, no, it isn't.

U.S. Treasury Secretary Mnuchin urges Congress to raise debt ceiling a

...and yet the Treasury is collecting record tax revenues.

 

[NYcarbineer]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.