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Thread: Senate reaches deal to end shutdown, avoid default

  1. #61
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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Kushinator View Post
    The point is, we don't have to!
    You're dreaming. You can't pay the Visa card with the Mastercard, and the Mastercard with the Amex card, forever and ever. Eventually, your money becomes worthless, and the debtor wants the note paid with real money.

  2. #62
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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Erod View Post
    You're dreaming. You can't pay the Visa card with the Mastercard, and the Mastercard with the Amex card, forever and ever. Eventually, your money becomes worthless, and the debtor wants the note paid with real money.
    Real money that is worth something at that! Keep printing and borrowing money and see how much that money buys

  3. #63
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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Erod View Post
    You're dreaming. You can't pay the Visa card with the Mastercard, and the Mastercard with the Amex card, forever and ever. Eventually, your money becomes worthless, and the debtor wants the note paid with real money.
    Already showed how total debt in 1947 is less than our current interest payments. Money only becomes worthless if there is no production to back it.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Kushinator View Post
    Yes.



    source

    ($0.642 trillion - $1.1 trillion) / $1.1 trillion = -41.64%

    The rest of your post was opinionated drivel.
    This is the best you can do? This little box? Your position is so pitiful it's barely worth my time. Consider this the last response.

    You realize the only reason why there is this reduction (for 1 year and the deficit is still increasing by more than 600 billion FAIL) is because of The Sequester right? Wait until Obamacare spending kicks into high gear which is why Obama is trying to get rid of The Sequester. It was his own idea that backfired on him. Even Left Wing journalists are reporting that The Sequester was a Republican victory because it decreased overall spending. Only a reduction in the rate of spending growth, but it still reduced the baseline. Without a Republican House, none of this spending reduction you are championing would have ever happened. You're actually citing The Republican successes as progress.

    7 Trillion in 5 years added to the deficit. You have no answer for that, yet you still claim the deficit is being reduced with a straight face. /point /laugh

    This thread should be bookmarked. Kushinator finally supports Republican Policies and spending cuts

    Anyways keep on keepin on Kush

  5. #65
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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Kushinator View Post
    Already showed how total debt in 1947 is less than our current interest payments. Money only becomes worthless if there is no production to back it.
    So you've spun a cocoon for yourself, based on a scenario from the Truman administration, and written off all concerns for a debt that dwarfs it by embarassing proportions.

    I wonder how much concern there was on this forum back in 1947.

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Bronson View Post
    This is the best you can do? This little box? Your position is so pitiful it's barely worth my time. Consider this the last response.
    Why even bother responding to a post based entirely on fact with a plethora of partisan subjectiveness? The budget has declined by more than 40% primarily due to a 15% increase in revenues.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Senate reaches deal to end shutdown, avoid default

    Someone ask Kush what budget, the 3.77 trillion budget submitted by Obama? Wonder how much money we are losing because we have 22 million unemployed/under employed/discourage workers? Wonder how much we are losing because of the stagnant economic growth? With all that reduction in the deficit it does seem that it isn't enough to lower the debt. Maybe people like Kush don't know the difference? By the way, be careful, Kush runs to the Mods when he is losing badly.

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    Re: Senate reaches deal to end shutdown, avoid default

    I for one am disappointed. I was really hoping that this would be the end of this financial paradigm and the world could move on to something better.

  9. #69
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    Re: Senate reaches deal to end shutdown, avoid default

    Not sure exactly where this should go, but this bill may be much bigger news than is presently being reported on..

    There's a section in the bill called the "Default Prevention Act of 2013". It starts on Pg 24 line 10:

    My read is that it gives the President unilateral authority to suspend the debt ceiling. Congress would no longer have to pass debt ceiling increases, they'd have to vote to PREVENT a debt ceiling increase. Then they'd have to override a presidential veto.

    Basically, the debt ceiling may be off the table forever.

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    Re: Senate reaches deal to end shutdown, avoid default

    Quote Originally Posted by Erod View Post
    So you've spun a cocoon for yourself, based on a scenario from the Truman administration, and written off all concerns for a debt that dwarfs it by embarassing proportions.

    I wonder how much concern there was on this forum back in 1947.
    "When the stock market crashed, Franklin D. Roosevelt got on the television and didn't just talk about the, you know, the princes of greed." –Joe Biden

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