Still not Budget

13»

Replies

  • samzheresamzhere Banned Posts: 10,923 Senior Member
    ten, do some reading on the bond market and you'll see that the debt limit is not a Democrat invention nor is it a tactic. It's a very real situation and is not the best idea since sliced bread but it's how things are set up these days, economically. The budget bill passage and the debt ceiling are two different things.

    I do agree it's a faux screen for increased spending but that's how the thing is structured and both Demos and Reps have contributed to this situation. And it's deeply linked to treasury bonds and futures. Cutting spending is another good idea, sure. But that's not gonna happen quickly -- it will take a big reversal.

    Outside of a dog, a book is a man’s best friend. Inside of a dog, it’s too dark to read. - Groucho Marx
  • agewonagewon Senior Member Posts: 655 Senior Member
    As Sam noted, there is more to the issue than the debt ceiling. It's also about defaulting on our debts. Now I've heard so many different accounts as to what may happen if we did default, but what's the real prize? What's really going to happen? Is Wall Street going to crumble, or will the US dollar cease to be the global currency? What I do know is that the ramifications will extend farther than just here at home, but can someone outline what the worst case scenario is?
  • 5280 shooter II5280 shooter II Senior Member Posts: 3,923 Senior Member
    I see points with both Sam and Tennmike........don't raise the ceiling and curtail spending.....some govt. programs are superfluous and unnecessary. Yet raising the ceiling works on our credit rating.

    Think of the country like your personal credit card debt.........I could buy a car with my credit limit being so high, yet I can't because I can't make the monthly payments......and I'm already late on a few with the lack of income that's hit me lately.

    Basically, Congress needs to put the reigns on the pocket-book and cut out the Cable......spend on what we NEED and not on what we WANT.

    I think this is called self-control.
    God show's mercy on drunks and dumb animals.........two outa three ain't a bad score!
  • tennmiketennmike Senior Member Posts: 26,220 Senior Member
    samzhere wrote: »
    ten, do some reading on the bond market and you'll see that the debt limit is not a Democrat invention nor is it a tactic. It's a very real situation and is not the best idea since sliced bread but it's how things are set up these days, economically. The budget bill passage and the debt ceiling are two different things.

    I do agree it's a faux screen for increased spending but that's how the thing is structured and both Demos and Reps have contributed to this situation. And it's deeply linked to treasury bonds and futures. Cutting spending is another good idea, sure. But that's not gonna happen quickly -- it will take a big reversal.

    I know how the bond thing is working. The government issues bonds which are sold by the Federal Reserve(which is NOT a government entity). The government buys up a lot of the issued bonds, and the Fed. Res. sells a lot to other entities(individuals, countries, and retirement funds, among others). Tax receipts can pay the interest on this and the other outstanding debt. The real gorilla in the room is if the bond holders get skittish and all try to cash them in at once. It would make a run on a bank look like a fart in a hurricane. We'd be Somalia overnight.
    If the U.S. Congress was put in charge of the Sahara Desert, there would be a shortage of sand in under six months.



  • orchidmanorchidman Senior Member Posts: 7,747 Senior Member
    agewon wrote: »
    As Sam noted, there is more to the issue than the debt ceiling. It's also about defaulting on our debts. Now I've heard so many different accounts as to what may happen if we did default, but what's the real prize? What's really going to happen? Is Wall Street going to crumble, or will the US dollar cease to be the global currency? What I do know is that the ramifications will extend farther than just here at home, but can someone outline what the worst case scenario is?

    One thing that worries me personally is whether or not the export flowers I am sending tomorrow will be able to be processed at LAX...................if they don't get processed on arrival I will probably head out to the orchid houses with a weed whacker and save myself some 20 hr days next week............
    Still enjoying the trip of a lifetime and making the best of what I have.....
  • 5280 shooter II5280 shooter II Senior Member Posts: 3,923 Senior Member
    cpj wrote: »
    You must be drunk. It. Will. Never. Happen. The genies out of the bottle. A balanced budget we will never, I repeat never, see again in our lifetime.

    Christopher I'm shocked by your words.......we can balance the budget if you would just stop playing with yourself and treat these nincompoops like you would a squirrel.......we need a man of action........game?

    How's your economy going when people realize they can't afford you anymore? Granted you and I are secure at the moment...........people need their security as well as their shipments..........but I used to think the same about pest control........bugs & rodents ain't going away...............only your ability to pay for me to keep them away.
    God show's mercy on drunks and dumb animals.........two outa three ain't a bad score!
  • alphasigmookiealphasigmookie Senior Member Posts: 8,845 Senior Member
    orchidman wrote: »
    One thing that worries me personally is whether or not the export flowers I am sending tomorrow will be able to be processed at LAX...................if they don't get processed on arrival I will probably head out to the orchid houses with a weed whacker and save myself some 20 hr days next week............

    Good luck. I flew yesterday and went completely smoothly. I think a lot of TSA, CBP, and ICE seem to be working. Also my morning Metro train is just as full as normal.
    "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
  • Big ChiefBig Chief Senior Member Posts: 32,995 Senior Member
    cpj wrote: »
    Again, it will never happen.
    While I'll do my part to elect people who "say" they will reduce spending, I'll have a better chance of making my car that runs on unicorn farts and rainbows.
    "Read my lips, no new taxes!"

    Probably catch fire less than some "Green" models on the market these days.....
    It's only true if it's on this forum where opinions are facts and facts are opinions
    Words of wisdom from Big Chief: Flush twice, it's a long way to the Mess Hall
    I'd rather have my sister work in a whorehouse than own another Taurus!
  • tennmiketennmike Senior Member Posts: 26,220 Senior Member
    Good luck. I flew yesterday and went completely smoothly. I think a lot of TSA, CBP, and ICE seem to be working. Also my morning Metro train is just as full as normal.

    The ones you listed are tied to national security and are exempt, as are the staff of the flight controllers in the control towers, and pretty much all of Homeland security and the military.
    If the U.S. Congress was put in charge of the Sahara Desert, there would be a shortage of sand in under six months.



  • alphasigmookiealphasigmookie Senior Member Posts: 8,845 Senior Member
    tennmike wrote: »
    The ones you listed are tied to national security and are exempt, as are the staff of the flight controllers in the control towers, and pretty much all of Homeland security and the military.

    When you throw in the fact that the government has moved almost exclusively to contractors for almost everything and all contractors are still working (at least until they run out of money in a few weeks/months) the impact of the "shutdown" I'd guess is something like 10-15% of government functions. Of course it also means that the amount that we're saving, especially since SS, Medicare, Welfare, VA, and SNAP checks are all still going out is almost nothing.
    "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
  • tennmiketennmike Senior Member Posts: 26,220 Senior Member
    When you throw in the fact that the government has moved almost exclusively to contractors for almost everything and all contractors are still working (at least until they run out of money in a few weeks/months) the impact of the "shutdown" I'd guess is something like 10-15% of government functions. Of course it also means that the amount that we're saving, especially since SS, Medicare, Welfare, VA, and SNAP checks are all still going out is almost nothing.

    Yeah, makes you wonder if anything is being saved. All those programs you listed are already funded, more or less for a good while. SNAP program has money to fund it for a year if this goes on that long, and it won't go on that long.

    I like that California Democrat congresscritter screaming that the Republicans are Jihadists in a jihad against the government. Talk about heating up the rhetoric! CSPAN is more entertaining than Comedy Central! :rotflmao:
    If the U.S. Congress was put in charge of the Sahara Desert, there would be a shortage of sand in under six months.



  • alphasigmookiealphasigmookie Senior Member Posts: 8,845 Senior Member
    tennmike wrote: »
    Yeah, makes you wonder if anything is being saved. All those programs you listed are already funded, more or less for a good while. SNAP program has money to fund it for a year if this goes on that long, and it won't go on that long.

    I like that California Democrat congresscritter screaming that the Republicans are Jihadists in a jihad against the government. Talk about heating up the rhetoric! CSPAN is more entertaining than Comedy Central! :rotflmao:

    Almost none. One of my colleagues had a meeting at doe today and the building was nearly full.

    Best case scenario they'll save a couple billion a week if that. Out of a multi-trillion budget it's pennies. After all the "non-essentially" employees collect their unemployment checks the net will be even less.
    "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
  • tennmiketennmike Senior Member Posts: 26,220 Senior Member
    Almost none. One of my colleagues had a meeting at doe today and the building was nearly full.

    Best case scenario they'll save a couple billion a week if that. Out of a multi-trillion budget it's pennies. After all the "non-essentially" employees collect their unemployment checks the net will be even less.

    Does the phrase, "The inmates are running the asylum" ring a bell?
    If the U.S. Congress was put in charge of the Sahara Desert, there would be a shortage of sand in under six months.



  • kansashunterkansashunter Senior Member Posts: 1,505 Senior Member
    Congress is going to pass and the potus has already said he would sign a bill that will pay all furloughed workers for whatever time they are off, so saving no money there. Found out yesterday that GF will not be getting a paycheck but if you don't report to work you can be fired. So you are a lot better off if deemed non essential.
  • sgtrock21sgtrock21 Senior Member Posts: 1,693 Senior Member
    Congress is going to pass and the potus has already said he would sign a bill that will pay all furloughed workers for whatever time they are off, so saving no money there. Found out yesterday that GF will not be getting a paycheck but if you don't report to work you can be fired. So you are a lot better off if deemed non essential.
    Isn't being forced to work without compensation a form of slavery? I was furloughed in November 1995 for 4 days. I was paid but not allowed to work. If it would have lasted longer I could have went on military status using Additional Flight Training Periods (AFTPs) keeping up with my work and still drawing unemployment making more money than my federal civil service wages.
  • kansashunterkansashunter Senior Member Posts: 1,505 Senior Member
    It's not slavery, you can always quit. She is trying to find a different job but no luck so far. I understand why the shutdown started and I hope something good comes from it but much of what is going on is a normal government screwup. Think how they will screwup health care.
Sign In or Register to comment.
Magazine Cover

GET THE MAGAZINE Subscribe & Save

Temporary Price Reduction

SUBSCRIBE NOW

Give a Gift   |   Subscriber Services

PREVIEW THIS MONTH'S ISSUE

GET THE NEWSLETTER Join the List and Never Miss a Thing.

Get the top Guns & Ammo stories delivered right to your inbox every week.