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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 apdst View Post
    It's not my opinion that we've lost private sector jobs, every month since the stimulus spending started.
    And that is something no one is denying. The question is whether it would have been the same, worse, or better without the stimulus.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: US Treasury asks Congress to lift debt ceiling

    from andrew cuomo's state of the state yesterday:

    We have the worst business tax climate in the nation, period. Our taxes are 66% higher than the national average.

    The State of New York spends too much money, it is that blunt and it is that simple. Our spending has far exceeded the rate of inflation. From 1994-2009, inflation was about 2.7% per year; medicaid went up over 5% per year and education went up over 6% per year. In real GDP, from 2001-2006, upstate New York grew about 1.7% per year while the average in the nation was 2.7%. The costs of pensions are exploding, 1.3 billion in 1998-1999, projected for 2013, 6.2 billion - a 476% increase and its only getting worse.

    We just can’t afford those rates of increase. State spending actually outpaced income growth. State spending increased just under 6%, personal income growth was only 3.8%.

    Not only do we spend too much, but we get too little in return. We spend more money on education than any state in the nation and we are number 34 in terms of results. We spend more money on Medicaid than any other state in the nation and we are number 21 in results. We spend about $1.6 billion per year in economic development and we are number 50 in terms of results. We are spending more, and government is growing more. We now have more than 600 Executive branch agencies.

    What made New York the Empire State was a not a large government complex. It was a vibrant private sector that was creating great jobs in the State of New York. That’s what made us the Empire State once and that’s what’s going to make us the Empire State again.

    We are going to have to confront the tax situation in our State. The property taxes in New York are killing New Yorkers. Thirteen of the sixteen highest tax counties are in New York when asset by home value. In absolute dollars, Westchester County the highest property taxes in the United States of America. Nassau County the second highest property taxes in the United State of America. It has to end, it has to end this year. We have to hold the line on taxes for now and reduce taxes in the future. New York has no future as the tax capital of the nation. Our young people will not stay. Our business will not come. This has to change.

    Put it simply the people of this state simply cannot afford to pay any more taxes, period.
    GOVERNOR ANDREW M. CUOMO STATE OF THE STATE ADDRESS | Governor

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by The Prof View Post
    from andrew cuomo's state of the state yesterday:



    GOVERNOR ANDREW M. CUOMO STATE OF THE STATE ADDRESS | Governor
    Ha, at first i thought that was a joke. Then i remembered that this is the year the federal government will attempt to take over state budgets and end the federalist system, and force all the responsible states pay for the debtor states.
    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
    And that is something no one is denying. The question is whether it would have been the same, worse, or better without the stimulus.
    There's no way to prove that. One irrefutable fact, is that the stealfromus didn't improve the economy. My evidence, you ask? The economy is still in the toilet, even after trillions of dollars worth of robulus spending.
    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.
    Actually, very little of the trillion was used to finance jobs. Most went for saving Wall street, banks, and failing companies.

    With no government funding, infrastructure will deteriorate, and other vitally needed projects, too expensive for private interests to tackle, will also die. Is that what you want, really want?

    History lesson: With no government funding, and they'd be no highways, no dams, no national defense, no electricity, no TV, no computers

    ricksfolly

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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!
    The US treasury isn't spending the money, Congress is. The US Treasury is merely asking the Congress for permission to borrow money that Congress has already allocated to be spent. The Treasury is just doing its job and making that the Congress's budget is paid for not, its NOT a partisan part of government. The real problem is Congress spending the money.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by ricksfolly View Post
    Actually, very little of the trillion was used to finance jobs. Most went for saving Wall street, banks, and failing companies.

    With no government funding, infrastructure will deteriorate, and other vitally needed projects, too expensive for private interests to tackle, will also die. Is that what you want, really want?

    History lesson: With no government funding, and they'd be no highways, no dams, no national defense, no electricity, no TV, no computers

    ricksfolly
    Yeah, because as The One finally admitted, there's no such thing as a shovel ready project.
    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

    http://www.law.harvard.edu/faculty/h...utdowns_10.pdf

    a few of our members need to go here

    if a shortcut is required, search for anti-deficiency act
    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 justabubba View Post
    http://www.law.harvard.edu/faculty/h...utdowns_10.pdf

    a few of our members need to go here

    if a shortcut is required, search for anti-deficiency act
    Please summarize. The PDF keeps hanging on me.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: US Treasury asks Congress to lift debt ceiling

    Quote Originally Posted by Wiseone View Post
    The US treasury isn't spending the money, Congress is. The US Treasury is merely asking the Congress for permission to borrow money that Congress has already allocated to be spent. The Treasury is just doing its job and making that the Congress's budget is paid for not, its NOT a partisan part of government. The real problem is Congress spending the money.
    Let's say you told a car dealer you're going to buy a car. Before you do this you have already decided on a limit on the amount of debt you'll take on. You of course don't have the cash for the car so the dealer offers you some credit. Since taking on the extra credit would put you over your self-imposed limit you decide you can't do that right now. So you now have three choices. You can save your income and wait till you can pay cash for your car, you can wait till you're drunk enough that you forgot your self-imposed debt limit and get the loan, or you can live without the car.

    This is the situation we find ourselves. Since the debt limit is about 95% of last year's income it would probably be a bad idea to waste your limit and get more debt. We're still employed and we get about $2 Billion a day so we certainly will survive without more debt even though it isn't very comfortable. But no one can deny that at some point we will no longer be able to get more credit. Also, it's not a very smart move to keep obtaining more debt to test where that natural ceiling sits at.

    The obvious caveat to this analogy is the fact that congress has the power to create our currency. But that would require taking power away from the Fed. Last congress only had 2 guys that favored this move, and one of them got voted out. But since we all agree the ceiling will get raised again, these more drastic moves will become ever more popular the closer we get to the end.
    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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