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#121
10-09-2013, 09:33 AM
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Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln 
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#122
10-09-2013, 09:37 AM
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congress knows, and knew full well what their spending would lead to. laws they've passed has brought us to this debt ceiling. had they wished to remain forever below it, they should have budgeted wisely. this isn't something that has just happened. it's been coming for some time. it's disingenuous now for anyone in congress to say 'we must reign in spending'. that horse left the barn a while ago.
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Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#123
10-09-2013, 09:42 AM
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The Cash for Clunkers took stupid to a whole new level IMO
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#124
10-09-2013, 09:50 AM
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and i just saw this, on the latest polls.
http://www.washingtonpost.com/blogs/...bc-poll-finds/ republican disapproval from those polled is growing. and you know there's something wrong when: Just 52 percent of Republicans, for instance, approve of how Republicans in Congress are handling budget negotiations.
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Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#125
10-09-2013, 09:50 AM
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#126
10-09-2013, 09:55 AM
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#127
10-09-2013, 09:55 AM
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that said, they've already spent the money in past budgets, which is why we're about to hit the ceiling. but i can tell that you've read none of the articles i've posted, that explain the difference between spending and the ceiling. you probably think they should just pay 'important stuff' which is actually illegal. they have to pay bills as they come in. if the debt ceiling isn't changed, the treasury no longer will have borrowing authority to pay things as they come due, while they wait for deposits. it's akin to operating a business and having no line of credit. i'm sure employees want paid every two weeks, regardless of cash flow.
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Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#128
10-09-2013, 09:57 AM
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__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#129
10-09-2013, 09:58 AM
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#131
10-09-2013, 09:59 AM
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http://news.msn.com/us/va-chief-shut...llions-of-vets
About 3.8 million veterans will not receive disability compensation next month if the partial government shutdown continues into late October, Veterans Affairs Secretary Eric Shinseki says. Some 315,000 veterans and 202,000 surviving spouses and dependents will see pension payments stopped. Shinseki is spelling out some of the dire consequences of a longer-term shutdown in testimony Wednesday for the House Committee on Veterans Affairs. The short-term consequences have meant that disability claims production has slowed by an average of about 1,400 per day since the shutdown began Oct. 1, and that has stalled the department's efforts to reduce the backlog of disability claims pending for longer than 125 days. In all, more than $6 billion in payments would be halted with an extended shutdown.
__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#132
10-09-2013, 10:08 AM
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http://www.nationaljournal.com/econo...ryTiles_medium
The Fed's ongoing quest to drive down interest rates targets both goals. By keeping rates low, Bernanke makes it cheaper for borrowers to take out loans. And to convince lenders to take a risk on those loans, the Fed has bought up massive quantities of Treasury bonds—considered the ultimate safe investment among investors—in an effort to drive down the rate at which those bonds pay off to private investors. The hope is that investors, unsatisfied at the low rate of return they get back from the federal government, will instead put their money into the private sector. That's where Congress is so damaging to Bernanke's efforts. By precipitating one crisis after another, lawmakers are sending investors running back to the type of investments that keep their money safe but do precious little in the way of economic stimulus. If Congress wanted to spook lenders, it could hardly pick a better method than flirting with default. "It would be the opposite of what the Fed's wanted to do," says Stuart Hoffman, chief economist at PNC Financial Services. "It basically says something has happened outside the Fed's control that could shock the economy into recession." For Bernanke, the current debt-ceiling standoff may be all the more infuriating because he's seen it, and its destructive effects, play out before. When the country last brushed up against the debt ceiling in the summer of 2011, investors flocked to Treasury bonds, looking for a safe place to park their assets while they waited to see if Congress was going to unleash economic chaos
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Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#133
10-09-2013, 10:49 AM
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Meanwhile, even though the government is shut down. They're hiring at over $100K/year plus benefits.
http://www.washingtontimes.com/news/...ted-in-spite-/ Approve and borrow 90 days of expense money, come up with a balanced budget and then we'll worry about hiring media relation guys. Until then lets hold off on any more mechanical bulls, Detroit bailouts, and aid to countries whose majority hates us.
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#134
10-09-2013, 12:49 PM
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#135
10-09-2013, 01:18 PM
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#136
10-09-2013, 01:42 PM
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#137
10-09-2013, 01:54 PM
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#138
10-09-2013, 02:18 PM
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that law, flawed as it is, passed all three branches of government. the behavior being exhibited by a portion of congress to stop a law that congress passed (and the executive and judicial also signed off on) is reprehensible. but, repubs are going all out now on this, because their largest fear isn't obamacare. it's that once people get obamacare, they will like it and want to keep it. THAT is what repubs don't want to have happen. and the funny thing is, when you ask people if they like the different rules and regs in obamacare, they like it. but when you ask them 'do you like obamacare', they say no. quite a job done on branding by the republicans on this. ask many of these same folks, who don't like obamacare, if they support the affordable care act, yes-yes, they do. of course, they are also pulling this stunt in the lead up to the debt ceiling. that's the other part of their grand plan.
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Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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#139
10-09-2013, 02:37 PM
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 http://www.baltimoresun.com/news/opi...,6137479.story
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#140
10-09-2013, 02:40 PM
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no, the craziest thing is that a segment of congress has been able to shut the whole government down. this is supposed to be a democracy-not mob rule by a small portion of one party. and that's what this is-or a tantrum, thrown by a few with the mindset of 2 year olds. i can't get my wayyyyyyy. waaaaah. i don't know that i've ever been so disgusted with these people. oh, and randall and anyone else saying hitting the debt ceiling would be no big deal, please...read this: http://www.baltimoresun.com/news/opi...,6006376.story an excerpt: If the U.S. government starts defaulting on its obligations — any obligations — that confidence will be permanently shaken. And that has some very real, practical consequences. The largest holders of U.S. treasuries are the Social Security system and the Federal Reserve. If government bonds are suddenly devalued, Social Security could find itself unable to pay retirees, and the assets that back the value of the dollar would evaporate. The third and fourth largest bond holders are the Chinese and Japanese governments. If their assets suddenly contract in value, the contagion would spread from the world's largest economy to the second- and third-largest. Many institutions are barred from trading in bonds issued by an entity in default, which means that pension funds, money market funds, bond funds and other investment funds would be required to dump their U.S. debt, causing its value to spiral downward even more. For average Americans, that means the purchasing power of their dollars will collapse, and interest rates on everything from mortgages to credit cards would skyrocket — if any lending was going on at all. After Lehman Brothers defaulted on its obligations five years ago, the stock market lost half its value, lending froze and unemployment jumped above 10 percent. We still have not recovered. The treasury's outstanding debt is more than 20 times as great as Lehman's was. We avoided another Great Depression after Lehman only because the Federal Reserve and the U.S. Treasury were able to take extraordinary action to shore up the financial markets. If the U.S. government is the one to default, there will be no one to save us. The precise chain of events that would occur after a U.S. default is unknowable, both because it has never happened and because it would be the single largest disruption of the financial markets imaginable. But there is near universal consensus among economists, global finance officials and the financial industry that it would foster world-wide catastrophe.Yet a sizable portion of the Republican caucus in Washington chooses simply not to believe any of it. They think the White House is bluffing or that the predictions of dire consequences are overblown. Sequestration wasn't the end of the world, they say, and neither so far has been the federal government shutdown — at least not for members of Congress, who continue to show up to work and get paid.
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Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln
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