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Thread: Breaking: Agreement has been reached on raising the debt limit....

  1. #201
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    Re: Obama: We have a deal

    Quote Originally Posted by PzKfW IVe View Post
    Sigh.
    When you have $X, you can only run a deficit if you choose to spend >$X.
    This is true even when X goes down from one year to another.
    Interesting concept, liberals have. Problem is there never will be enough money to fund the liberal appetite for spending as they attempt to make this country into a wonderful European socialist utopia.

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    Re: Obama: We have a deal

    Quote Originally Posted by PzKfW IVe View Post
    It is true, period.
    Every single dollar spend is subject to revision, every single benefit represented by non-discretionary spending can be reduced or eliminated.
    SocSec, Medicare - spending all entitlement programs can be cut.


    This is covered by discretionary spending.
    No, that is simply incorrect. If you "revise" your decision to pay obligations that you have already incurred, you will not end up saving money for the government. Quite the opposite, in fact. Contractors will, going forward, charge a higher rate to account for the risk that some genius in the past decided the government could simply choose not to pay for already-completed work. If anyone is willing to lend to the government they will only do so if they receive a much higher interest rate to account for the risk that some genius decided that the government could simply *choose* not to pay its bills. Actions have consequences.

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    Re: Obama: We have a deal

    Quote Originally Posted by Sheik Yerbuti View Post
    treasury.gov is a talking point, is it?


    Spits the Conservative who claimed all of the following numbers that the CBO added to their FY2009 budget forecast revision:

    $700B
    $500B
    $461B
    $180B
    $398B
    $180B

    Which one have you settled on?


    Cries a Bush 19% JAR supporter.
    Guess Bush won't win the 2012 election. Amazing how you continue to make Bush, Reagan, and Clinton the issue as they don't matter. What matters is what Obama is doing and I doubt he will get the support of the 24 million plus unemployed or under employed Americans to vote for him. Based upon the lastest results he has 40% support as more and more people actually see his results and how they affect them. Wonder when you will wake up?

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Interesting concept, liberals have. Problem is there never will be enough money to fund the liberal appetite for spending as they attempt to make this country into a wonderful European socialist utopia.
    FY2009, the US government took in >$2.1T
    Only in the mind of a liberal is this not "enough".

  5. #205
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    Re: Obama: We have a deal

    Quote Originally Posted by AdamT View Post
    No, that is simply incorrect. If you "revise" your decision to pay obligations that you have already incurred, you will not end up saving money for the government. Quite the opposite, in fact. Contractors will, going forward, charge a higher rate to account for the risk that some genius in the past decided the government could simply choose not to pay for already-completed work. If anyone is willing to lend to the government they will only do so if they receive a much higher interest rate to account for the risk that some genius decided that the government could simply *choose* not to pay its bills. Actions have consequences.
    Adam, do you realize that the fiscal year of the U.S. Govt. runs from Oct to Sept? that is the term of the budget as well so the fiscal year 2011 budget ends the end of next month as do the obligations for the non discretionary spending.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Guess Bush won't win the 2012 election. Amazing how you continue to make Bush, Reagan, and Clinton the issue as they don't matter. What matters is what Obama is doing and I doubt he will get the support of the 24 million plus unemployed or under employed Americans to vote for him. Based upon the lastest results he has 40% support as more and more people actually see his results and how they affect them. Wonder when you will wake up?


    And what is the approval rating for the Republicans in Congress?

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    Re: Obama: We have a deal

    Quote Originally Posted by AdamT View Post
    No, that is simply incorrect.
    It is absolutely correct.

    If you "revise" your decision to pay obligations that you have already incurred
    Entitlement benefits -- the vast majority of mandatory spending - are not 'already incurred'.
    All entitlement spending can be cut; the only mandatory spending that cannot be cut is debt service.

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    Re: Obama: We have a deal

    Quote Originally Posted by AdamT View Post
    And what is the approval rating for the Republicans in Congress?
    Didn't know they broke out Congressional Approval ratings by party. Why such loyalty to Obama?

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Adam, do you realize that the fiscal year of the U.S. Govt. runs from Oct to Sept? that is the term of the budget as well so the fiscal year 2011 budget ends the end of next month as do the obligations for the non discretionary spending.
    Yes, I understand that. I also understand that you can't possibly crunch the numbers for the U.S. government the way you're trying to do it. For example, even if there is technically enough money to pay SS, the checks won't go out of you don't pay the government employees who process the checks. And you won't have the money you claim you have if you don't pay the IRS and other employees to actually collect the money.

    At the moment we are only taking in about half the revenue we need to pay all our bills. Thus, obviously, if we don't borrow the rest we are going to default on about half of our obligations. Basic arithmetic.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Didn't know they broke out Congressional Approval ratings by party. Why such loyalty to Obama?
    Of course they break it down by party. FYI, the approval for Republicans in Congress is at 25% in the latest Pew poll. For Democrats it's at 30%. Kinda makes Obama's 41% look not so bad, eh?

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