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Thread: US Treasury asks Congress to lift debt ceiling

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Redress View Post
    The government is not a business.
    Not technically, but it should be run like a business. The failure to run the government like a business is the biggest problem, IMO.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Redress View Post
    Not exactly, no. It would force the government to stop spending.
    If the Gov't can't afford to pay what's doing without borrowing... don't you see that as a BAD thing?
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by apdst View Post
    Yes, it would. It would force Congress to priortize spending.
    It would force government to show us their true colors, it would essentially cut spending in half. Us serfs would finally get to see what is most important to them. And just a guess, the most immediate danger to the government wouldn't be cave dwellers anymore, it would people getting testy in the bread lines.
    Democracy is two wolves and sheep voting on what's for dinner. Liberty is a well armed sheep willing to contest the vote.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Redress View Post
    The government is not a business.
    true, but it does need to conduct itself in more businesslike ways
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by MrVicchio View Post
    US Treasury asks Congress to lift debt ceiling

    Just say NO Congress. You were given the House to stop this train wreck. Get to it!
    Not that simple... Congress needs more money to create more needed jobs (infrastructure, dams, etc.) to keep priming the motor, without it, the country would lose all the advances it has made. It's about more charity. It's about doing something NOW, not just hoping the economy will recover by itself. Never has never will.

    Maybe, just maybe congress will finally do what the people voted for them to do, not play political gotcha ya ya ya games like little children.

    ricksfolly

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by ricksfolly View Post
    Not that simple... Congress needs more money to create more needed jobs (infrastructure, dams, etc.) to keep priming the motor, without it, the country would lose all the advances it has made. It's about more charity. It's about doing something NOW, not just hoping the economy will recover by itself. Never has never will.

    Maybe, just maybe congress will finally do what the people voted for them to do, not play political gotcha ya ya ya games like little children.

    ricksfolly
    Congress passed over a trillion dollars worth of job creation bills. How did that work out for us?

    The government can't create jobs.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: US Treasury asks Congress to lift debt ceiling

    Let's get reality out of the way: The debt ceiling will be raised. End of story.

    Federal Government revenue as a percentage of GDP is still at historic lows. In a normally functioning economy, revenue as a % of GDP > 18%, more specifically it should be 19.5%.

    Government Revenue as a % of GDP as a function of time


    Cutting spending to reflect revenue during this stage of the recovery will definitely send us crashing back to not just a recession, but a full out depression. Given that the deficit is around 12.5% of GDP, cutting that to zero will reduce GDP roughly by that amount. The empirical relationship of GDP and unemployment states that this will push the U-3 unemployment average just over 15%, and the U-6 measurement (that partisans have taken a liking to) just north of 23%.

    Is this the egg you want to crack?
    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: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Goldenboy219 View Post
    Let's get reality out of the way: The debt ceiling will be raised. End of story.

    Federal Government revenue as a percentage of GDP is still at historic lows. In a normally functioning economy, revenue as a % of GDP > 18%, more specifically it should be 19.5%.

    Government Revenue as a % of GDP as a function of time


    Cutting spending to reflect revenue during this stage of the recovery will definitely send us crashing back to not just a recession, but a full out depression. Given that the deficit is around 12.5% of GDP, cutting that to zero will reduce GDP roughly by that amount. The empirical relationship of GDP and unemployment states that this will push the U-3 unemployment average just over 15%, and the U-6 measurement (that partisans have taken a liking to) just north of 23%.

    Is this the egg you want to crack?
    Government spending isn't going to fix the economy. We've spent more than a trillion dollars over the past two years and the economy is still in the ****ter and unemployment is still going up. The notion tht the government can fix the economy is fantasy, not reality.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by apdst View Post
    Congress passed over a trillion dollars worth of job creation bills. How did that work out for us?

    The government can't create jobs.
    a lot more than a trillion-- tarp was $700+ billion (to save the system from eminent collapse), stimulus was another $770 billion, the tax bill at the end of 2010 was $950 billion. even all that pales in comparison to the amount of money the fed has injected into the system. it's balance sheet has grown by just shy of $1.5 trillion since the beginning of the crisis. it has purchased over $3 trillion in corporate bonds on top of that.

    to make matters worse all the inflation is starting to hit. it'll surely hit the resource based economies hardest first such as china, india, brazil. but all their products are bought by us and the prices are starting to go up. and even worse than that, what has happened to wages? they've actually gone down, this is why people cry about deflation. so everything is more expensive except the value of yours and my time. do you really think another trillion in government debt will help or hurt? it only makes the eventual fall from a higher elevation. the building is burning, and instead of jumping out a third story window and survive with some broken knees we're climbing up to run from the fire. anyone that thinks the fire will go out before we have to jump off the roof is a fool.
    Democracy is two wolves and sheep voting on what's for dinner. Liberty is a well armed sheep willing to contest the vote.

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    Re: US Treasury asks Congress to lift debt ceiling

    The congress should tell the US treasury to straighten out their fiscal agenda. Stop all stimulus spending, excessive government waste, and force the government to live within its means. The debt ceiling should be lowered if it changes at all.
    When the debate is lost, slander becomes the tool of the loser. -Socrates
    Tired of elections being between the lesser of two evils.

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