Obama seeks $1.2 trillion debt ceiling increase

I support the $ 1.2 trillion if some of the money is used for a real 911 investigation. Otherwise its just more pork for the good ole boys.

 

Ayuh,... You conveniently omit the 3rd choice,....

Cut Spendin',.....

 

Well, let's go with your analogy of blood circulation:

Money spent by the government is not analogous to bleeding, because the money is recirculated back into the economy. The only point you could make that money spent by the government is less efficient in generating wealth than the private sector (more blood needed to sustain, lets say, the large body weight of a person, if efficiency is lower).

Bleeding, as an analogy, would mean that actual money is lost. This is the case when someone buries money in the backyard, never to be found again when he/she dies, a situation that is not too uncommon.

Then, there is also hoarding, which is our current problem caused by outsized wealth disparity. This would mean that there is a big reservoir of blood that does not circulate, for example a large bruise. In that case, effective blood volume is reduced, resulting in lower blood pressure and, possibly shock. This is the situation we have currently, which is evident through the low money velocity. Too much money is on the sidelines (blood in the bruised area), leaving less money to circulate (effective blood volume down).

Now, the body reacts to a situation like this by generating new blood cells. This would be the analogon of the Fed printing money, stimulating the economy. However, our conservative friends don't want that. They'd rather keep the effective blood volume, and thus the blood pressure, low, keeping the patient (economy) in a sustained state of shock.

 

This is the second time in a week that I've seen right wingers bump three year old threads.

What's up with that?

 

Why are you bumping a three year old thread on a topic that has long since been settled?

 

Was the Golfer-in-Chief president three years ago? Yep! Is he president today? Yep! Will he be president for another 578 days, 14 hours, and 48 minutes (as of this posting) before sliming his way out of office? Yep. So what he did or did not do to this nation three years ago still matters and thus such threads remain topical -- to a certain extent.

 

Originally Posted by Pollycy
Obama and the liberals like to crow about how nicely the economy is "recovering", but from the beginning it's been bought with "stimulus" fraud, reckless money-printing by the Fed, and staggering amounts of increasing debt. As it is, Obama ran up the debt more in his first three years than "W" Bush did in both of his four-years terms in office!

Now President Kick-the-Can wants yet ANOTHER $1.2 Trillion dollars to prop up this, uh, "recovery" and cover is own ass through the election! After three years of plunging headlong into an abyss of debt at a speed never dreamed of before, some people still do not know what "Keynesian economic theory" is... well, it is synonymous with OBAMA(and the people in the Federal Reserve System who pull his strings).

Links? No problem:

http://news.yahoo.com/obama-seeks-1-...021000271.html

http://money.cnn.com/2011/12/27/news...ling/index.htm

http://www.businessweek.com/news/201...it-dec-30.html

These Keynesians and their stooge, Obama, are like a bunch of idiotic, pimple-headed teenagers who've been turned loose with Mommy and Daddy's credit cards. They will destroy us with their stupidity, but fortunately, there's just a chance that Republicans may be able to put a stop to this madness:http://www.washingtonpost.com/politi...K7P_story.html



I support the $ 1.2 trillion if some of the money is used for a real 911 investigation. Otherwise its just more pork for the good ole boys.[/QUOTE]

I posted the piece responded to in January 2012, and we see many of the same principles of "recovery" applied to this day. Interest rates remain crushed in the dirt at near microscopic levels, even though the demand for money is high. The prime interest rate today should probably be somewhere between 5% - 7%.

The world's central banks continue their "easing", "bond-buying", and other sleight-of-hand fraud. The stock market parasites and investment bankers are having a ball! The 1% laughs its ass off every day at the half-witted socialists who put a sock puppet like Obama in power, and then were actually stupid enough to re-elect him. We're done! It's all just a matter of time now....

 

Raising the debt ceiling three years ago is relevant today? Hardly.

But your ODS syndrome is noted. It must be a slow day on the right wing trash blogs.

 

What comes after a trillion? Obama will gladly take however much Congress is stupid enough to give him.
Other people's money means absolutely nothing to him.

 

Behold... this is the way a hyperlib's mind works! If we were in debt three years ago, and we're deeper in dept today, is that "relevant" today...? If you were deeply in debt three years ago, and you were even far more deeply in today, would that be "relevant"...?

The national debt (which is over 100% of GDP today) has increased over $7.67 TRILLION DOLLARS since your stock market-stooge, "president" Obama took over from Idiot Bush (the Republican version of a stock market-stooge). Thus, the national debt has increased more under this one uncomprehending, sophomoric, socialist moron than it has increased under ALL previous presidents put together! And what does the hyperlib say? That it's "hardly" relevant today.

The greatest tragedy of all is that people with this calibre of mentality are even allowed to vote at all....

"What, me worry? Shucks! I let Janet Yellen and the Fed run the finanshuh crap for me...."

 

Pollycy…… can you comment on these statements by dad2three?

Especially the part that I emphasized?

If he is correct….. this could help to explain what I read back in the 1990's about how here in Canada there was nearly ten times as much debt…… as there were Canadian dollars in existence….. but in the USA at that time there was less than 400% more debt in existence than USA dollars?

If what he wrote is true…… then this would go a long way toward explaining the difference.

http://www.politicalforum.com/polit...ence-federal-reserve-doing-excellent-job.html
I just read powerful evidence that the Federal Reserve is doing an excellent job.

If this statement is correct...… that the bulk of the interest generated by the loans issued by the Fed..... go back into the budget of the USA...… then........ I no longer have any serious issues with the American Federal Reserve System!

This is news to me...… although it looks like this has been going on for a long time.

http://www.politicalforum.com/united-states/211515-who-actually-owns-fed-why-must-end-2.html

Who Actually Owns the Fed and Why That Must End

If dad2three is correct.............. then all the criticism that I have read of the American Federal Reserve System is terribly exaggerated!

 

Without a real increase to spending in the 15-20% range we will continue this slow/no growth, with a mediocre economy. Unfortunately the only way we'll get the spending we need is if a Republican is elected. Very sad.

 

First, let's take a look at the general overall situation: http://www.forbes.com/sites/jeffrey...bt-as-a-percent-of-gdp-its-really-much-worse/

The mess that we're in, and getting deeper into every day, involves these facts:

1. The national debt/GDP ratio for the U. S. (2012) was over 106%.
2. The national debt itself is $18,275,000,000,000+ and growing like malignant cancer.
3. The labor force participation rate in the U. S. is the lowest it has been since the mid-1970's, at about 62.8% (April '15).
4. The U6 unemployment rate (which much more closely describes today's new "normal" situation than the old U3 report) shows that we have at least 10.8% unemployment: http://www.bls.gov/news.release/empsit.t15.htm
5. As of the first of this year, approximately 106,631,000 Americans are drawing one form or another of government means-tested welfare: http://www.politifact.com/punditfac...ere-more-welfare-recipients-us-full-time-wor/

Now, to the Federal Reserve System (which you surely know is NOT part of the government at all, and was not authorized by the U. S. Constitution). When the whole house of cards began to fall back in Q4 2006, it became obvious that banks had recklessly and irresponsibly made a vast number of huge loans to people who could not, by ANY logical calculation, be able to pay them back. Everybody had bundled up mortgaged-backed securities and were running for shelter when the (*)(*)(*)(*) began to hit the fan in summer of 2007. In steps the Fed! The first thing that Bernanke did was to rig interest rates, and to make certain that banks were well taken care of at the discount window, where THEY get THEIR money from the Fed.

Interest rates began falling like a piano pushed off the top of a building, and they've been down on the ground ever since, even though the demand for credit has been high. BUT, the banks have made a nice fortune, by doing nothing but taking money the Fed created out of NOTHING, and mostly just sitting on it, because THEY were being paid to do little else! They could make money from the Fed by doing nothing, and they could cherry-pick who they would make new loans to.

Money was created out of thin air, and the stock market skyrocketed, and now it is close to 18,000. Stocks are grotesquely overvalued now, thanks to the Federal Reserve combine: http://www.marketwatch.com/story/stocks-are-overpriced-overleveraged-headed-for-trouble-2015-03-25 . Even Fed. Chaircreature, Janet Yellen, the Bernanke clone-without-a-beard, recently warned that equities are very high: http://www.reuters.com/article/2015/05/06/us-usa-fed-yellen-idUSKBN0NR1JI20150506

The folks who like the Fed are mostly people who have invested heavily in the stock market, quite naturally, and, as during the previous fraud-balloons, they've made a lot of paper money. But what has happened to the rest of the country?

We're hopelessly in debt, with more and more welfare programs that are hemorrhaging money, and more and more people going on welfare-suck all the time!
We're upside-down completely in our ratios of national debt versus GDP and labor force participation, plus, we've got a real-world unemployment rate of almost 11%.
We've been so weakened abroad and at home with incalculably stupid decisions made by the Obama regime that we cannot project power in the Middle East, the Pacific, in Eastern Europe -- hell, we can't even keep tens of thousand of illegal aliens from invading our southern border!

Our negotiations with Iran over nuclear inspections is dead as a doornail. Our "sanctions" against Russia have failed to have any real effect against it, while the Russians become more aggressive and powerful militarily every month. We are completely disregarded in the Pacific by the Chinese who extend their power and authority, directly threatening our allies while they defy the U. S.

OK, now, back to the point. What has the Federal Reserve combine, which RUNS the whole U. S. economy done to help with any of this? If your answer is that obviously nearly EVERYTHING has been made worse with their manipulation and meddling, you would be right.

The best, and most accurate political cartoon from the 2012 election.

 

Who cares

Who cares

That's what happens when you prevent spending and lay off millions of workers

 

In fact, the size of the Federal deficit has declined every year that Obama has been President. The share of the deficit as a percentage of GDP has as well.

The figure you cite is the cost of economic collapse. A collapse brought on by reckless fiscal management by the GOP and by reckless deregulation, and the enabling of the Wall Street casino.

Remember that Ronald Reagan tripled the national debt and George W Bush doubled it again. Neither faced a crisis that required extensive borrowing. They borrowed and spent.

No Republican has proposed a balanced budget since before I was born.

And the last President to run a budget surplus was Bill Clinton. The Republicans were having none of that, and as soon as they got their hands on the levers of power, they went right back to borrow and spend.

 

Thought it was an intelligent post.....until this.

JEE....ZUSS....will people never learn?

 

Ok...intelligence returns with this post I suppose.

 

Tell ya what, since you're convinced that works....Quit working...you and your spouse (if applicable)....I want you to spend every dime that your household makes on helium balloons and baseball cards. Do it until I say stop.

Now, while you're doing that, go buy as many new cars, appliances and unnecessary things as you can possibly defraud any creditor out of and give them an IOU.

Write me from prison because while you cannot get away with it for long, the government can and has for quite a while now.

But "who cares" ?

 

The government is not a household. They are the gatekeepers to our monetary system and another entity that can spend, hire, and create economic prosperity.

 

I don't know how you measure your prosperity, but I measure mine against my debt. Perhaps the government could use some household advice.


http://www.usdebtclock.org/

 

Cool image. Are you afraid of large numbers or something?

 

I guess to some... once a number is large enough, it becomes irrelevant.

Are you afraid of math or something?

 

I haven't seen you use any math yet. Just posted a bunch of numbers. Was wondering what I was supposed to be afraid of.

 

OK, I get it. You don't care. I almost never encounter a Democrat loyalist who does care about any of the devastating things I cited in my earlier post. All they seem to care about is keeping the welfare floodgates open, and enjoying the fairyland fantasies afforded by an out-of-control Federal Reserve central-bank. C'mon Akphidelt -- even Janet Yellen thinks the (*)(*)(*)(*)ing stock market casino is dangerously overvalued....

I didn't comment on the deficit. To answer the question that was posed to me about the overall effect of the Federal Reserve combine, I spoke about the very things it has done to enrich Wall Street and investment bankers while screwing the rest of us into the ground.

As far as Reagan goes, the country was weak after experiencing the damage and neglect of Nixon, Ford, and Carter, and seriously threatened in Europe and Asia by the Soviet Union. Reagan HAD to build the military back up to credible levels of force projection, and at the same time, work with Paul Volcker to bring inflation way down while bringing about a solid economic recovery. I lived it! Reagan DID it!

But, I'll say this for Bill Clinton... I'd a HELL of a lot rather see him as the President today, going on through just about as far as I can see into the future as I can see. Obviously, it won't happen. I don't want to see that corrupt, unqualified, doctrinaire, old socialist hippie-chick Bill's married to becoming the next chief executive. Conversely, I would like to see a ticket with Rick Perry, Ben Carson, Condoleezza Rice, or Carly Fiorina on it. These are four people who could bring considerable improvement to every aspect of life in this country, particularly the economy, and foreign policy... but perhaps not to a gaggle of welfare addicts who can't live without sucking on the government teat every day of their worthless lives.

Care to elaborate, or am I just supposed to read your mind...?

I don't worship at a Republican "shrine". I'm under no illusions... What I see in the Democrat (Socialist) Party today makes me want to puke, and the Republicans, frankly, aren't much better overall. Reality? The United States I loved with all my heart is GONE.

 

I'm saying who cares to get you to answer why it matters. There isn't a good answer, I'll tell you that much. You just have to add in little comments like "malignant cancer" to try to shift the fact that you truly have no clue whether those numbers are good or bad.

Just a fear of large numbers, that's pretty much what the conservative/libertarian argument comes down to.

78 years ago people were terrified of $42 billion. Why were they wrong but you are right?