Any good new about the US buget yet?

robert38-55robert38-55 Senior MemberPosts: 3,621 Senior Member
I was surfing the net this morning trying to find some progress on the US budget/deficiet dilemma. I found an article on MSN, and we all know the validity and reliability of the news on the net and any media outlet... I am beginning to believe that our congress men/women and senate are a group of dillettantes who have lost sight of what needs to be accomplished in this country.......:cuss::cuss::cuss:


http://www.msnbc.msn.com/id/43897431/ns/politics-capitol_hill/
"It is what it is":usa:

Replies

  • beartrackerbeartracker Senior Member Posts: 3,116 Senior Member
    Interesting, and it is creating a great deal of consternation among Americans, will be quit a show in the up coming days and it might be at all of our expense, I certainly hope not, but notice I said, "hope not."
  • NNNN Senior Member Posts: 23,967 Senior Member
    They won't do much until near the end of the time limit, except point fingers.
    I noticed gas prices made a jump today----I wounder if it is because of oil speculators and this debt limit issue.
    A Veteran is someone that served in the Military, it does not matter where they served.
  • ADRidgeADRidge Member Posts: 173 Member
    I think we're pretty much screwed.
    In space no one can hear you scream... but if you put a helicopter up there, some jerk would complain about the noise!
  • alphasigmookiealphasigmookie Senior Member Posts: 8,743 Senior Member
    ADRidge wrote: »
    I think we're pretty much screwed.

    Yeah pretty much. It seems like every time there is an opportunity they hold the country hostage over something or another. Last time it was the budget and the CR, and before that it was the lame duck congress and extending the tax cuts. These guys really like to play chicken with our economy don't they!
    "Finding out that you have run out of toilet paper is a good example of lack of preparation, buying 10 years worth is silly"
    -DoctorWho
  • ADRidgeADRidge Member Posts: 173 Member
    I try not to think about the BS games these people are playing with my future, but it's hard not to get pissed off watching these people throwing tantrums and bluffing each other while we're headed for the deadline at full speed.
    In space no one can hear you scream... but if you put a helicopter up there, some jerk would complain about the noise!
  • alphasigmookiealphasigmookie Senior Member Posts: 8,743 Senior Member
    PS as soon as this finishes they're no doubt going to hold the federal gov't hostage again since the current fiscal year ends in September and there is no FY12 budget.
    "Finding out that you have run out of toilet paper is a good example of lack of preparation, buying 10 years worth is silly"
    -DoctorWho
  • avmechavmech Senior Member Posts: 858 Senior Member
    It is an ongoing never ending prime example of political posturing, nothing more, nothing less.
    NRA Benefactor Member
  • NNNN Senior Member Posts: 23,967 Senior Member
    avmech wrote: »
    It is an ongoing never ending prime example of political posturing, nothing more, nothing less.
    :that:
    A Veteran is someone that served in the Military, it does not matter where they served.
  • Diver43Diver43 Senior Member Posts: 8,662 Senior Member
    I have been trying to figure out where all the money has gone. GM has paid back their loan along with the agreed upon interest. Most of the banks that got bailed out have paid back their loans, again with the agreed upon interest. That equals several BILLION dollars. How come that is never in the calculations that are given on money in and money out? It had to go someplace
    Logistics cannot win a war, but its absence or inadequacy can cause defeat. FM100-5
  • alphasigmookiealphasigmookie Senior Member Posts: 8,743 Senior Member
    Diver43 wrote: »
    I have been trying to figure out where all the money has gone. GM has paid back their loan along with the agreed upon interest. Most of the banks that got bailed out have paid back their loans, again with the agreed upon interest. That equals several BILLION dollars. How come that is never in the calculations that are given on money in and money out? It had to go someplace

    I think it has to do with tricky accounting. I'm not sure any of those bailout funds were ever considered to have been "costs" or included in the debt so now that the funds have been returned they also don't really count as revenues or reduction in the debt.
    "Finding out that you have run out of toilet paper is a good example of lack of preparation, buying 10 years worth is silly"
    -DoctorWho
  • ADRidgeADRidge Member Posts: 173 Member
    Even a few billion is a drop in the bucket. We're talking about thousands of billions of dollars here.
    In space no one can hear you scream... but if you put a helicopter up there, some jerk would complain about the noise!
  • tv_racin_fantv_racin_fan Senior Member Posts: 617 Senior Member
    Budget trickery? You mean like baseline accounting??? That happens in govt? OMG
  • robert38-55robert38-55 Senior Member Posts: 3,621 Senior Member
    I think it has to do with tricky accounting. I'm not sure any of those bailout funds were ever considered to have been "costs" or included in the debt so now that the funds have been returned they also don't really count as revenues or reduction in the debt.

    Creative accounting is what they used to call it!!!!!!!!!!! "Cooking the books" so to speak!!!!!!!!!!!! used to see it in aviation all the time!!!!!!!!!!!
    "It is what it is":usa:
  • Diver43Diver43 Senior Member Posts: 8,662 Senior Member
    Creative accounting is one thing, but we are talking over 300 billion dollars.
    Most people have a difficult time comprehending that much money.
    It just dont disappear.
    Logistics cannot win a war, but its absence or inadequacy can cause defeat. FM100-5
  • alphasigmookiealphasigmookie Senior Member Posts: 8,743 Senior Member
    It didn't disappear, they just never counted it as leaving in the first place (in the debt/deficit that is), so when it returned it didn't help reduce those values either. At least that's the way it looks to me.

    Another way of looking at it is when they spent the money they actually purchased an "asset" that had a value due to the fact that the money was supposed to be paid back in the future. This is similar to buying a bond. If you buy a bond you didn't really spend the money and your wealth didn't decrease, you now just hold a different kind of asset than cash. If however the bond loses value or the borrower does not pay back the full value, THEN you have lost wealth and you would have to consider that loss in your accounting. Where things get even more tricky is when accountants decide that you have actually "realized" a loss or a gain. Only then do the net changes show up in budget numbers like profits or deficits.
    "Finding out that you have run out of toilet paper is a good example of lack of preparation, buying 10 years worth is silly"
    -DoctorWho
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