Page 5 of 13 FirstFirst ... 34567 ... LastLast
Results 41 to 50 of 123

Thread: US debt jumps a record $328 Billion

  1. #41
    Guru
    Samhain's Avatar
    Join Date
    Sep 2011
    Location
    Northern Ohio
    Last Seen
    Today @ 12:07 PM
    Lean
    Libertarian
    Posts
    3,875

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Deuce View Post
    No, seriously, this is what happens when you have 15 days of payments to make in one day. Did you think all those bills that came up after we hit the debt limit just ****ing went away?
    Incorrect. This was to pay off the last 5 months of borrowing under the table, or did you not notice that the total reported debt didn't increase since May? Hell, AP reported that it was an estimated 415 billion that would need to be paid day 1, and it had absolutely nothing to do with the shutdown.

  2. #42
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: US debt jumps a record $328 Billion

    As I read through this thread, and the nonchalant attitude of those making excuses for the idiots in DC continuing to just argue to spend more and more on an ever increasing credit card I was struck on this film last night on Stossel. It's a couple of years old, (and that is another problem for another thread that we just keep traveling down the road not doing anything about this) but it puts this I think in understandable terms...Watch....

    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  3. #43
    Sage

    Join Date
    Feb 2013
    Last Seen
    12-04-17 @ 09:36 AM
    Gender
    Lean
    Libertarian
    Posts
    12,361

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by sookster View Post
    The money in your bank account and in your wallet, is federal debt. In the first stages of the flow of money, the government sells its treasury bonds to The Fed for cash. This cash is spent through government programs and government spending. Which means that government spending is an opening nozzle of the overall money supply. But it also means that the money in the economy started as government spending, and that the money circulating through the economy is the money eventually owed on those bonds sold to The Fed. Therefore, the money supply is debt to the central bank. Therefore if we were to pay our entire national deficit there would be no money. The money supply has to expand at a certain rate. If the supply of money itself becomes too low, at some point prices are going to have to increase (inflation). When you learn more about the economy, you will learn that there are risks of inflation everywhere. The only thing that I can think of that actually drops prices is the drop of demand. Obviously, if there is too much inflation (hyperinflation) the confidence of the currency will be completely lost; it will collapse.

    What constricts this rate of inflation (there is always inflation) are interest rates. That is why I think it is so dangerous to be buying mass treasury bonds at such a low interest rate. If I am correct on this, I think at some point the interest rate on these bonds was 0% (or close to it)! That means that commercial banks, when they lend money, will have crazy low interest rates. And this basically means there is less suckage of money into the banking sector with smaller interest rates. More money remains in the economy so the tendency is for prices to increase.

    Printing everyone 1 million dollars and then increasing interest rates is undoable for different reasons. It would initially work, but then everyone wouldn't work the jobs required to have the life that we live. If people lose the incentive to work and there is no production, that is a collapsed economy.
    What you write makes no sense to me. It is counterintuitive. It sounds like some crazy economic theory and I view most economic theories as opinion and nonsense. Sorry, I just don't buy it.

  4. #44
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Today @ 12:43 PM
    Gender
    Lean
    Undisclosed
    Posts
    51,714

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Samhain View Post
    Incorrect. This was to pay off the last 5 months of borrowing under the table, or did you not notice that the total reported debt didn't increase since May? Hell, AP reported that it was an estimated 415 billion that would need to be paid day 1, and it had absolutely nothing to do with the shutdown.
    Already addressed.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

  5. #45
    Professor
    sookster's Avatar
    Join Date
    Jun 2011
    Location
    In my own world.
    Last Seen
    06-27-17 @ 10:17 PM
    Gender
    Lean
    Undisclosed
    Posts
    1,838

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by fmw View Post
    What you write makes no sense to me. It is counterintuitive. It sounds like some crazy economic theory and I view most economic theories as opinion and nonsense. Sorry, I just don't buy it.
    Sorry. Basically think of the money supply continually expanding because it has to. Interest rates slows the expansion rate of the money supply, that is it. So no matter what you do, there is inflation. You just have to keep the inflation in check so the system doesn't completely collapse.

  6. #46
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by sookster View Post
    Sorry. Basically think of the money supply continually expanding because it has to. Interest rates slows the expansion rate of the money supply, that is it. So no matter what you do, there is inflation. You just have to keep the inflation in check so the system doesn't completely collapse.
    Didn't they try that already in Weimar?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  7. #47
    Banned
    Join Date
    Oct 2013
    Location
    (none)
    Last Seen
    04-04-15 @ 09:11 PM
    Lean
    Communist
    Posts
    6,112
    Blog Entries
    1

    Re: US debt jumps a record $328 Billion

    Here is a cool website.

    History of Deficits and Surpluses In The United States

    It looks like our country does best with a Democrat in the White House, Republican control of the Senate and Republican control of the House. Republican presidents like to fight conflicts which is very expensive. Republican presidents are also more likely to cave to congress which can be very expensive especially if it's R-R-R. Democratic presidents like to give away goodies but they can't do it if the Congress and Senate are Republican.

    The D-R-R combo is very rare in our recent history. We could probably see a surplus by the end of FY-2017 (September 30, 2018) if Republicans take the Senate in the 2014 election.

    vasuderatorrent

  8. #48
    Sage

    Join Date
    Mar 2012
    Location
    Republic of Florida
    Last Seen
    Today @ 01:40 PM
    Gender
    Lean
    Libertarian
    Posts
    14,007

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Deuce View Post
    No, seriously, this is what happens when you have 15 days of payments to make in one day. Did you think all those bills that came up after we hit the debt limit just ****ing went away?
    THats not what happened. The Treasury was paying bills during the entire shutdown, 200 billion worth. Agencies were actually prevented from making new spending bills because of the lapse in funding. If the ww2 memorial is shut down, theres no payment for landscaping to be made. Which doesnt mean they didnt save their spending for the moment they got funding.

  9. #49
    Sage

    Join Date
    Mar 2012
    Location
    Republic of Florida
    Last Seen
    Today @ 01:40 PM
    Gender
    Lean
    Libertarian
    Posts
    14,007

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by vasuderatorrent View Post
    Here is a cool website.

    History of Deficits and Surpluses In The United States

    It looks like our country does best with a Democrat in the White House, Republican control of the Senate and Republican control of the House. Republican presidents like to fight conflicts which is very expensive. Republican presidents are also more likely to cave to congress which can be very expensive especially if it's R-R-R. Democratic presidents like to give away goodies but they can't do it if the Congress and Senate are Republican.

    The D-R-R combo is very rare in our recent history. We could probably see a surplus by the end of FY-2017 (September 30, 2018) if Republicans take the Senate in the 2014 election.

    vasuderatorrent
    We almost had a balanced budget in 2007 with a Republican President, and Democrat House/Split Senate.. The deficit had dropped to 160bn and was likely to balance in fy2008, had the recession not hit.

  10. #50
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Today @ 12:43 PM
    Gender
    Lean
    Undisclosed
    Posts
    51,714

    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by jonny5 View Post
    THats not what happened. The Treasury was paying bills during the entire shutdown, 200 billion worth. Agencies were actually prevented from making new spending bills because of the lapse in funding. If the ww2 memorial is shut down, theres no payment for landscaping to be made. Which doesnt mean they didnt save their spending for the moment they got funding.
    The treasury was paying its bills by borrowing from funds already allocated for other future projects, and deferring payments where able. They'd been doing so for five months.

    Now they have to replenish those borrowed funds because those other projects are still happening.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

Page 5 of 13 FirstFirst ... 34567 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •