- Location
- Southern Maryland
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Geithner asks Congress for higher U.S. debt limit
- Thread starter ehall
- Start date
djwright4341
NAXJA Forum User
- Location
- Kentucky
I wonder what the country's credit score is? 
- Location
- MilkyWay Galaxy
I wonder what the country's credit score is?
AAA
We can grow and print money faster than anyone else in the world!
garr
NAXJA Forum User
- Location
- Nassau County NY
This administration is having a grand old time spending our money like never before!
Looks like they are attempting to keep things propped up until the mid terms next year,
Then!:skull2: for the economy!
But I could be wrong, who really knows what they are doing?
Looks like they are attempting to keep things propped up until the mid terms next year,
Then!:skull2: for the economy!
But I could be wrong, who really knows what they are doing?
5-90
NAXJA Forum User
- Location
- Hammerspace
I sure wish I could raise my own credit limit sometimes - like when something big needs fixing.
Honestly, if you want to do something useful about the debt, how about you cut down on spending - rather than give the ability to spend more? We're in trouble because we keep spending money we don't have, we've made plans to borrow ~$1T from the future (our twice-great grandchildren are probably going to make the first dent in that bill...) and every time I hear some new "stimulus" think happening, I keep thinking that the value of the US Dollar is declining even farther.
Wasn't it in Zimbabwe where the locals were going about with wheelbarrows full of local currency just to buy food? Seems we're going to be heading in that direction, unless serious economic socialism takes over (not that socialism would be an improvement - just sayin'.)
- Location
- MilkyWay Galaxy
Actually the value of the dollar was up at about a 2 year high recently. It went up while oil went down. The dollar went up during the crash, while stocks, and hard assets like oil dropped. That has reversed the last 8 weeks or so, but the dollar is still higher than it was 1-2 years ago, and that is with fed Funds at 0-.25% interest.
Think about it, right now you can buy twice as much oil, nearly twice as much gasoline, with a dollar as you could 14 months ago. At the moment that is deflation, not inflation. Once the world economies start rebounding, then Congress will need to reduce spending, raise some taxes, somewhere, but a growing economy and new jobs will increase revenues with out raising tax rates, and the FED will need to start raising interest rates to check potential inflation, but it has history of doing that already the last 30 years.
You can follow or track things like gold, oil, natural gas, electricity rates, and world currency values like the dollar for free at:
www.ino.com
Think about it, right now you can buy twice as much oil, nearly twice as much gasoline, with a dollar as you could 14 months ago. At the moment that is deflation, not inflation. Once the world economies start rebounding, then Congress will need to reduce spending, raise some taxes, somewhere, but a growing economy and new jobs will increase revenues with out raising tax rates, and the FED will need to start raising interest rates to check potential inflation, but it has history of doing that already the last 30 years.
You can follow or track things like gold, oil, natural gas, electricity rates, and world currency values like the dollar for free at:
www.ino.com
Last edited:
- Location
- Wasatch Range
In June 2009, Geithner promised that the Federal Government would not monitize our debt.
http://www.hedgehogs.net/pg/newsfee...p-funding-us-and-were-not-monetizing-the-debt
Now let's look at what happened last week.....the Treasury sells bonds to raise money.....and when they don't sell, the Feb buys them!!
In June, Giethner clearly stated that the Federal Government would not monitize our debt, but then he went ahead and did it anyway, buying back Treasury bonds a week after they were sold!
http://www.chrismartenson.com/blog/fed-buys-last-weeks-treasury-auction/23880
Geithner is a liar and a crook, we knew that before Obama appointed him.
Some of us recognized the same "qualities" in Obama.....too many still don't.
http://www.hedgehogs.net/pg/newsfee...p-funding-us-and-were-not-monetizing-the-debt
Now let's look at what happened last week.....the Treasury sells bonds to raise money.....and when they don't sell, the Feb buys them!!
In June, Giethner clearly stated that the Federal Government would not monitize our debt, but then he went ahead and did it anyway, buying back Treasury bonds a week after they were sold!
http://www.chrismartenson.com/blog/fed-buys-last-weeks-treasury-auction/23880
Geithner is a liar and a crook, we knew that before Obama appointed him.
Some of us recognized the same "qualities" in Obama.....too many still don't.
ECKSJAY
Water is dirty
- Location
- Covington, WA
I think they should be talking about term limits instead.
- Location
- Wasatch Range
Yup, and the attorneys will lobby for TORT reform too......which would actually made a HUGE decrease in existing healthcare costs.....but let's not get carried away with logic and reason, we are dealing with Washington, btw.:dunno:
- Location
- MilkyWay Galaxy
winkosmosis
NAXJA Forum User
- Location
- Maui, Hawaii
If we pay back the $1.35 trillion in tax cuts that George W. Bush added to the deficit, we won't need a higher debt limit.
AL BUNDY
NAXJA Forum User
- Location
- FULLERTON, CA
Please explain how you 'pay back tax cuts that were added to the deficit'?
5-90
NAXJA Forum User
- Location
- Hammerspace
If we stop paying Congresscritters (or pay them according to value of work - they would end up paying us for permission to work,) reduce their staffs, and cut middle management in civil service, that should just about handle the $1.35T (are you sure it's not $1.35B? $1.35T sounds awfully high for lost revenues due to tax cuts...) in "lost revenue."
Go to a flat tax or an NRST, and we can effectively eliminate the IRS as a whole (or at least reduce it to minimal staffing, since they won't need to audit returns anymore.) That should effect a fivefold additional reduction in expenditures - at least. Going to an NRST will take care of all of the "under-the-table" payouts going on that aren't currently taxed - and it gives us some control over how much we pay, since you pay your taxes when you buy things (instead of having the government's fingers in your pocket all of the time.) This should effect a revenue increase, to coincide with the decreases in expenditures.
Laying all of this at Bush's feet isn't terribly sound tho - bear in mind that, for the last two year's of Bush the Younger's term, he had a Democrat-controlled Congress, a Democrat-controlled Senate, and just about a veto-proof majority in both houses.
And, any bill having anything to do with money - appropriations or expenditures - directly has to originate in the House...
wolfpackjeeper
NAXJA Forum User
- Location
- 500' and 500KCAS, RAF lakenheath
you need to lay of the peyote
