"Ostrich" Congress puts head in the sand and votes for debt increase

[dellinger63]

Originally Posted by Riot

Nope. No fairytail. You present a T-bill for cash, and it's cashed, with interest. You don't only get paid interest.

The last year we paid down our debt was right before Bush W. put us in the crapper. And I think his first year did, too.

If you could do that with a treasury credit there would be no problem. But you can't and that's where the fairytail part starts.

[Riot]

Originally Posted by dellinger63

If you could do that with a treasury credit there would be no problem. But you can't and that's where the fairytail part starts.

Sigh.

All we have to do is have the Treasury take a credit from column A to column B, issue a bill, and place the cash in that account as needed.

It's what we've been doing for years. We've never been 1 day late on any payment.

Is this really too hard to understand? The only fairy tale is the Tea Party understanding of "finance". I find it amazing some are freaking out over something that has been being ably taken care of for years.

Now - tell your Congress to get your income back, that they gave away! You have bills you have agreed to pay!

Never mind, they are on vacation from their 4-day-a-week, two weeks on, one week off terrible schedule. Leaving the swamps of Washington for a month to avoid the heat and malaria. Just like the founding fathers.

[Antitrust32]

I hope the ceiling is never raised again.

I certainly dread the day when our debt reaches 25 trillion, 30 trillion, etc.

that is what it will look like if the dems and repubs keep their game going. they do NOT care about the future of this country.

[Riot]

Originally Posted by Antitrust32

that is what it will look like if the dems and repubs keep their game going. they do NOT care about the future of this country.

My anger at Congress for leaving the FAA existence hanging? Plus the 90,000 small business contractors currently working for FAA for runway safety construction that had to be furloughed without pay? No pay for food, no pay for car payments, no pay for mortgage?

(Happy August! Were you planning on driving your kid to college this month? Buying school supplies? Paying a tuition payment?)

We are losing 30 million a day in FAA fees? While the airlines are grabbing that up as profit by keeping ticket prices the same?

(and they say consumer protection agencies are not needed, right)

Congress, who was too damn lazy to stay one more day and take care of this (they asked Boehner, he said they'd deal with it when they got back) - well, they have cost us 1.2 billion

1.2 billion. We worry, while they vacation.

Hey Congress? JOBS? You know, here's 94,000 you could have had paid in August. Let alone the 1.2 billion you'll cost us.

Rand Paul is gonna get an earful at his first local town hall You are absolutely correct, they don't care one bit. How dare they do this, to these poor people.

Let's do the math: this happened because GOP wanted 16.5 million in cuts. They are costing us 1.2 billion by doing so.

Reckless, irresponsible, spenders, the GOP. They haven't changed a bit since the Bush years. Demagogue and cost us money, and people their jobs, food, cars ....

Where the hell is the Tea Party on this matter? Oh, they rushed home for vacation.

WASHINGTON — A stalemate that has partially shut down the Federal Aviation Administration will continue into September. A spokesman for Senate Majority Leader Harry Reid says Senate Democrats were unwilling to accept cuts in subsidies for rural air service.

House Republicans had demanded the $16.5 million in subsidy cuts as part of a bill to continue the FAA's operating authority. Senate Democrats repeatedly tried and failed to pass their own bill without the cuts.

The FAA's operating authority expired 11 days ago, as well as the authority of airlines to collect about $30 million a day in ticket taxes. If allowed to continue until Congress returns to work next month, the cost in lost revenue will be an estimated $1.2 billion.

Nearly 4,000 FAA employees have been laid off.

[Antitrust32]

Riot, the dems do the same things, its not just the GOP. When I look at Obama I see GW Bush.

we need a complete goverment overhaul. The politicians should be volunteers who only get paid a per deim. Two term max. and lobbyists should be deemed unconstitutional and be tried for treason.

[Riot]

LOL - hang on, I'm typing on a friends laptop, had to delete my post and sign in again under my name ... movie and dinnah tonight!

Originally Posted by Antitrust32

Riot, the dems do the same things, its not just the GOP. When I look at Obama I see GW Bush.

we need a complete goverment overhaul. The politicians should be volunteers who only get paid a per deim. Two term max. and lobbyists should be deemed unconstitutional and be tried for treason.

I am not in favor of term limits - I want the few good ones to stay forever, and we have elections every 2 years for the House.

I would love to pay them far less. It is very expensive in Washington, though, seriously, they don't usually own houses, they rent houses and bunk together. Won't hurt 'em, but have to pay them the inflated Washington rate. Still less than that cushy salary.

And why do they get lifetime free healthcare for their service to our country? Let them COBRA in like everyone else and pay up, then be forced to find insurance at age 60.

Somebody mentioned a TAX on lobbyist licenses. I fully agree. And an entry fee every time they walk in a door. But treason works, too

Citizens United has screwed us - we have to get that overturned, it's given them free reign.

[clyde]

LOL - hang on, I'm typing on a friends laptop, had to delete my post and sign in again under my name ... movie and dinnah tonight!



^^^^ She's dating a blind gorilla.

[Riot]

Yay! Reaganomics! Trickle down! Make the Job Creators feel safe and secure! Cut the debt! Cut taxes! Cut spending! Who cares if we are in a recession unnamed by about 0.1 percentage point GDP?

And the Democrats signed on to that proven wrong bs. ARG!

As relayed in Daily Kos, from JP Morgan website:

https://mm.jpmorgan.com/stp/t/c.do?i...tml*h_-1ni8eo3

A few quick macro thoughts on the debt deal

4) Impending fiscal drag for 2012 remains intact. The deal does nothing to extend the various stimulus measure which will expire next year: we continue to believe federal fiscal policy will subtract around 1.5%-points from GDP growth in 2012.

Its possible the fiscal commission could do something to extend some measure such as the one-year 2% payroll tax holiday, though we think unlikely, as it would need to be paid for, which would be tough. If anything, the debt deal may add modestly to the fiscal drag we have penciled in for next year.