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Thread: U.S. GDP Grows Just 1.3%

  1. #301
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by washunut View Post
    Let's remember that we the Federal budget expires Oct. 1. So this argument about what we promised to pay only extends until then. The other problem with the democratic talking point is that the congress refuses to do it's job, so we never even get a vote on what our "obligations" are.

    Many people are getting tired of these gottya phrases that are unthinking talking points made by lame politicians and their flunkies.

    It is well past the time we should get serious about the problems facing the nation.
    We shouldn't have a debt ceiling, our debt should only be limited by market forces, not by some arbitrary figure. If country are not willing to buy our debt at the interest rate offered that is your debt ceiling.


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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    Hello, do you still not get it? We can't pay all those people you mentioned if we don't raise the debt limit. If we pay our creditors we can't pay our military and Medicare recipients. If we pay our military and Medicare recipients we can't pay our creditors. This isn't rocket science!
    This is false. The US government took in more than $2.2T in revenue in FY2009 - that's abetter than an order of magnitude greater than our debt service.
    Not being able to borrow more monet simply means we have less money to spend - at which point you decide how must to reduce spending on whatever.

    To say that we cannot pay X Y Z if we cannot borrow more money is either a statement of ignorance, or a lie.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Sheik Yerbuti View Post
    U6 unemployment rate during that period went from 7.3% to to 9.7%, a 2.4 point increase (33%). You want Obama's head on a stick because it went from 14% to 16.2%, a 2.2 point increase (16%).

    underemployment increases 2.4 points under Bush, Conservative: "Four more years!"

    underemployment increases 2.2 points under Obama, Conservative: "Impeach him!"

    Just admit you're a hypocrite. Get that weight off your shoulder.
    There's nothing strange or hypocritical going on, you just haven't taken into consideration how these values compare with the historical record [The historical average for U6 is 10.1, with a range of 6.8 to 17.4 and a median value of 9.4 (BLS; LNS13327709)].

    So... although the unemployment rate increased by a similar margin under both Presidents,
    • In 2001-3 it increased from an unusually low value, back to something fairly average/typical. [A 7.3% or better rate is observed only 6 months out every 100. At 9.7%, the last month is right at the median.]
    • Since 2009, it has increased from a fairly high level to something even more atypical.

    The first was an excellent situation that slipped, and the second was a bad situation that only got worse.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Taylor View Post
    "Not to worry" Bernanke assures us.

    We should forget all this and get back to ensuring that we raise the debt ceiling under the guise of some pretend "cuts" to take on a couple more trillion dollars. After all, it's the "responsible" "adult" thing to do.

    Following the example of our great President, one should always seek "balance" when it comes to negotiations, but avoid it all cost when it comes to budgets.
    and Obamacare... So much for compromise, eh?
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    Generalizations are stupid.
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    The Second Amendment has nothing to do with guns.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    Your analogy is inapposite. If the debt ceiling isn't raised we will be unable to meet existing obligations -- not just future obligations. So let's look at a corrected version of your analogy:

    Your personal debt ceiling isn't raised and you choose to pay your mortgage. But that means you won't be able to pay your electricity bill, your cable bill, your phone bill, or your car payment. These are all obligations you have already incurred and that you have promised to pay. This will affect your credit rating. And as a side note, your electricity, phone, and cable will be cut off, and your car will be repo'd.

    I am sorry you are wrong. We can continue to service the debt and pay any contractual obligations easily.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by pbrauer View Post
    We shouldn't have a debt ceiling, our debt should only be limited by market forces, not by some arbitrary figure
    that's like saying we shouldn't immunize children, but rather let them beat killer diseases by running into the real thing. The Statutory Debt Ceiling is designed to help us avoid the calamity that would be running into the real debt ceiling.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by pbrauer View Post
    We shouldn't have a debt ceiling, our debt should only be limited by market forces, not by some arbitrary figure. If country are not willing to buy our debt at the interest rate offered that is your debt ceiling.
    Without a debt ceiling congress has to approve all borrowing.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by PzKfW IVe View Post
    This is false. The US government took in more than $2.2T in revenue in FY2009 - that's abetter than an order of magnitude greater than our debt service.
    Not being able to borrow more monet simply means we have less money to spend - at which point you decide how must to reduce spending on whatever.

    To say that we cannot pay X Y Z if we cannot borrow more money is either a statement of ignorance, or a lie.
    If we default the odds on fav to get their dough will be bondholders, also high on the list will be Social Security and Medicare recipients. Gotta keep us geezers placated, otherwise we will be marching in the streets with teabags hanging from our turbans, toting signs saying DON'T TOUCH OUR MEDICARE.

    The number 40 percent(as in stiffing the 40 percent )keeps popping up, seein as we borrow 40 cents for every dollar we spend.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by donc View Post
    If we default the odds on fav to get their dough will be bondholders, also high on the list will be Social Security and Medicare recipients. Gotta keep us geezers placated, otherwise we will be marching in the streets with teabags hanging from our turbans, toting signs saying DON'T TOUCH OUR MEDICARE.

    The number 40 percent(as in stiffing the 40 percent )keeps popping up, seein as we borrow 40 cents for every dollar we spend.
    Huh? The "40%" are the bondholders. That's who we borrowed from.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by RStringfield View Post
    Huh? The "40%" are the bondholders. That's who we borrowed from.
    Sorry,what i meant was we will be stiffing "40%" of the people we owe money to.I think that the bondholders will be the last that we stiff.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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