Senate Dems to try for debt ceiling increase

[himher 634]

The President spends only what Congress appropriates. Not a penny more. You know that.

Congress (at least a majority of them) have been given the message not to spend more than they receive and we, much like the daughter's credit card analogy, decline to provide any more on their credit card for them to squander.

It isn't like they go to work, make their own money, and properly manage it. We have to "give" it to them. "Giving" more to them for big new programs is something else we regretfully decline the opportunity to do.

So there we are. It is shut down and will be down and stay down until this gets fixed and we are all in it together, sink or swim. You say it's the conservatives in Congress? This is between us and a bloated, wasteful, out-of-control administration and nobody out here cares a whit how low the stock market falls as long as it stops.

If you want to swim I suggest you get on board with that.

Edited October 9, 2013 by himher

[Mr. Big Dog 10,747]

Look, the pigeon is back. And I didn't throw any bread crumbs.

[RGinWA 816]

All these economist on VJ and none employed in DC. What a waste of talent.

From all I've read about the debt ceiling most say its all political theater and basically BS. It must be raised, it's not a question of will they.

A January 2013 poll of a panel of highly regarded economists found that 84% agreed or strongly agreed that, since Congress already approves spending and taxation, "a separate debt ceiling that has to be increased periodically creates unneeded uncertainty and can potentially lead to worse fiscal outcomes." Only one member of the panel, Luigi Zingales, disagreed with the statement.

http://en.wikipedia.org/wiki/United_States_debt_ceiling%C2'>

[himher 634]

All these economist on VJ and none employed in DC. What a waste of talent.

From all I've read about the debt ceiling most say its all political theater and basically BS. It must be raised, it's not a question of will they.

A January 2013 poll of a panel of highly regarded economists found that 84% agreed or strongly agreed that, since Congress already approves spending and taxation, "a separate debt ceiling that has to be increased periodically creates unneeded uncertainty and can potentially lead to worse fiscal outcomes." Only one member of the panel, Luigi Zingales, disagreed with the statement.

LMAO like many companies and unlike DC, my employer has balanced books and a positive cash flow. Companies who don't deservedly get their credit rating downgraded.

Since you're dropping names do you and please name an economist, just one, who himself lives on borrowed money and then let all of us in your talented audience know how that's working out for him.

Look, the pigeon is back. And I didn't throw any bread crumbs.

Look it's Mr "facts and logic", in person, fertilizing another thread on VJ

Edited October 9, 2013 by himher

[himher 634]

<chirp> <chirp> still waiting patiently on the name of that successful debt-living economist

Economists at Goldman Sachs Group Inc., IHS Inc. (IHS) and BNP Paribas SA said they expect the Treasury to husband the tax money it collects to make sure it can meet interest payments on the nation’s debt. Other obligations, from salaries of government workers to payments to defense contractors, would face the ax. The result: $175 billion less in government spending during November alone, said Goldman’s Alec Phillips in Washington.

There will be no default. What there will be is massive, immediate spending cuts - with outflow limited to inflows, just like every individual and business on the planet has to accept. The economy will and has to contract to the level of its actual value, uninflated by the squandering and spending of borrowed money. There should be an approximate GDP reduction by 7-8% or 1 trillion annually, after which things can stabilize. We will take it.

NOTE: Like the above economist, we also expect the treasury to husband the tax money it collects. Just like we are expected to husband the money left over after they take a big chunk of it to squander.

You libs need to tell your elected officials that there will be cuts, one way or another, and the only way out is to sit down and mutually agree to them across the board. We are used to recessions and will ride this one out just like the last 3.

[Crashed~N2~Me 970]

The economy will and has to contract to the level of its actual value, uninflated by the squandering and spending of borrowed money. There should be an approximate GDP reduction by 7-8% or 1 trillion annually, after which things can stabilize. We will take it.

We will take it up the wazoo...each & every one of us. The Gov has become the "too big to fail"....

Seriously - Which politician is gonna seppuku...?

I'm moving in with the 1st Mormon I can find....wait...do Mormons have guns? Lots of Guns?