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Thread: Debt ceiling: House GOP gets lowdown on fallout

  1. #31
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    Re: Debt ceiling: House GOP gets lowdown on fallout

    Quote Originally Posted by haymarket View Post
    Do you not know how the government raises revenues? That is quite surprising for a man of your age.
    No idea, why don't you tell me? Like all liberals you want the govt. to raise taxes to reward the govt. for such great stewardship of our economy. The American people should haven't to pay for the politicians waste of money. Cut the damn spending which will grow the economy thus growing govt. revenue without tax increases. How much are the 25 million unemployed and under employed Americans paying in taxes? Barack Obama is incompetent and doesn't deserve another dime nor does the Democrat Party.

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    Re: Debt ceiling: House GOP gets lowdown on fallout

    Quote Originally Posted by pbrauer View Post
    Since the revenue from payroll taxes is approximately equal to income from individual income taxes, I don't see that being much of a problem.
    Of course you don't because you treat them as equal. Payroll taxes are supposed to fund future obligations, income taxes fund current expenses. You can cut the expenses but you cannot cut future obligations.

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    Re: Debt ceiling: House GOP gets lowdown on fallout

    It appears that you have serious problems with the governmental system of the USA. We already have the long established precedent that FICA revenues can indeed be mixed with revenues from other taxation sources. They have been used for a very long time now when there are surpluses from FICA. That line has already been crossed and is settled custom and settled in the law. If in the future, it becomes necessary to use general taxation revenues to support a shortfall in FICA revenues as used for Social Security payments - in other words to pay off the treasury notes - there is absolutely no barrier to that and it can be done.

    Or course, this has already been explained by several people in several threads.

    And of course, this only becomes a problem to those who ideologically are opposed to Social Security and will mount any semantic challenge to the program and do anything they can to subvert the system for operating to the benefit of the American people.
    Last edited by haymarket; 09-05-11 at 03:12 PM.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    Re: Debt ceiling: House GOP gets lowdown on fallout

    Quote Originally Posted by Conservative View Post
    That is a lie, there was no surplus as the Treasury shows, again you buy what you are told without verifying the rhetoric. Public debt plus intergovt. holding deficits=total debt. Clinton took office with a 4.4 trillion debt and left it at 5.7 trillion thus no surplus.

    Debt by year

    Government - Historical Debt Outstanding – Annual


    .
    Surplus, that's what clinton left for Bush.

    Show me the money: What happened to Bill Clinton's budget surplus?
    04:00 AM PT, Oct 15 2008

    When President Clinton left office, the federal budget was showing a $127-billion surplus.

    The books are closed on fiscal 2008. The surplus the current President Bush inherited has turned into a record deficit: $455 billion.

    Show me the money: What happened to Bill Clinton's budget surplus? | Countdown to Crawford | Los Angeles Times

    Quote Originally Posted by Conservative View Post
    2

    9/11 Commission disagrees with you, your point?

    .
    911 commission was set up by government to defend itself. Even 911 commission admit the cover up of 911.

    9
    /11 After A Decade: Have We Learned Anything?

    by Dr. Paul Craig Roberts

    The chairman, vice chairman, and senior legal counsel of the 9/11 Commission wrote books partially disassociating themselves from the commission’s report. They said that the Bush administration put obstacles in their path, that information was withheld from them, that President Bush agreed to testify only if he was chaperoned by Vice President Cheney and neither were put under oath, that Pentagon and FAA officials lied to the commission and that the commission considered referring the false testimony for investigation for obstruction of justice.

    In their book, the chairman and vice chairman, Thomas Kean and Lee Hamilton, wrote that the 9/11 Commission was “set up to fail.” Senior counsel John Farmer, Jr., wrote that the US government made “a decision not to tell the truth about what happened,” and that the NORAD “tapes told a radically different story from what had been told to us and the public.” Kean said, “We to this day don’t know why NORAD told us what they told us, it was just so far from the truth.”

    Most of the questions from the 9/11 families were not answered. Important witnesses were not called. The commission only heard from those who supported the government’s account. The commission was a controlled political operation, not an investigation of events and evidence. Its membership consisted of former politicians. No knowledgeable experts were appointed to the commission.

    One member of the 9/11 Commission, former Senator Max Cleland, responded to the constraints placed on the commission by the White House: “If this decision stands, I, as a member of the commission, cannot look any American in the eye, especially family members of victims, and say the commission had full access. This investigation is now compromised.” Cleland resigned rather than have his integrity compromised.

    9/11 After A Decade: Have We Learned Anything?

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    Re: Debt ceiling: House GOP gets lowdown on fallout

    katsung47;1059805185]Surplus, that's what clinton left for Bush.
    Here we go again, the lies about the Clinton surplus. Liberals keep perpetuating that lies as if it has any affect today. Public debt PLUS intergovt. holding deficit = TOTAL debt and when you take from Intergovt holdings and apply it to public debt you don't create a surplus. Wish liberals would wake up and understand that

    The Myth of the Clinton Surplus


    911 commission was set up by government to defend itself. Even 911 commission admit the cover up of 911.
    Looks like someone else here with Bush derangement syndrome
    Last edited by Conservative; 09-18-11 at 04:35 PM.

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    Re: Debt ceiling: House GOP gets lowdown on fallout

    Quote Originally Posted by haymarket View Post
    It appears that you have serious problems with the governmental system of the USA. We already have the long established precedent that FICA revenues can indeed be mixed with revenues from other taxation sources. They have been used for a very long time now when there are surpluses from FICA. That line has already been crossed and is settled custom and settled in the law. If in the future, it becomes necessary to use general taxation revenues to support a shortfall in FICA revenues as used for Social Security payments - in other words to pay off the treasury notes - there is absolutely no barrier to that and it can be done.

    Or course, this has already been explained by several people in several threads.

    And of course, this only becomes a problem to those who ideologically are opposed to Social Security and will mount any semantic challenge to the program and do anything they can to subvert the system for operating to the benefit of the American people.

    Okay .. hey I can understand that post …. but I do have a couple of questions, you say we take from the general fund to pay SS back correct ? Is this the same general fund that we are presently running at a 1.5 trillion dollar deficit ??? If we take money from the general fund to pay off these treasury notes, what other programs are going to take cuts for this? Or do we just add this to our already bloated deficit spending?

    Just curious is all .

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    Re: Debt ceiling: House GOP gets lowdown on fallout

    Quote Originally Posted by The Barbarian View Post
    Okay .. hey I can understand that post …. but I do have a couple of questions, you say we take from the general fund to pay SS back correct ? Is this the same general fund that we are presently running at a 1.5 trillion dollar deficit ??? If we take money from the general fund to pay off these treasury notes, what other programs are going to take cuts for this? Or do we just add this to our already bloated deficit spending?

    Just curious is all .
    we will obviously have to do two things in combination with each other: since a budget has only two sides, INCOME and EXPENDITURES, we deal with both sides.

    Will cuts in future programs have to be made? If we do not drastically increase revenues, yes. What do we cut? I would think the first rule is to pay for what we have already obligated ourselves for with the full faith and credit of the USA before we take on any new spending.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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