Debt limit antics this go 'round: same posturing for the base? Or for realz calamity?

[Vol8188]

Nothing like waiting till the last minute to talk to the opposition party, real uniter you voted for.

After refusing to negotiate for months and the media carrying water for him

 

[McDad]

Coming from an avowed socialist progressive liberal trans something or other, this assumption that all the people doing this are men is rather disturbing. Also, are you implying that 1980's prime time television is better than that produced by millennials and following generations. I tell ya, I'm just insulted, triggert, hurt, suicidal.......

This man is like school in the summer.

No class.

 

[Orangeburst]

Wait until a possible recession. Revenues are about to take a haircut. I bet Biden has a $2T+ deficit in 2023.

 

[82_VOL_83]

This man is like school in the summer.

No class.

Meh, +2

 

[McDad]

Meh, +2

That's the best burn I've got in my bag-o-burns.

 

[82_VOL_83]

That's the best burn I've got in my bag-o-burns.

Truck is over in the Boro being "repaired ".

 

[McDad]

Truck is over in the Boro being "repaired ".

Nice. Considering what you use it for, you made the right decision. Would have liked to buy it had it been a win-win.
Consider getting in another accident?

 

[Go aeiou]

And that proves some point? I highly doubt I will get anywhere near what I paid into either of those out of them, nevermind any kind of profitable return.

We live in a country where it is much better to have some sort of insurance, private or govt. I can go to my cardiologist and pay them $300 cash or let insurance/medicare pay them $110. So they get more on the spot or wait weeks to get less.

As far as your return on what you've paid into Medicare it's a crap shoot. At 67 I was in excellent health. A weeks stay in the hospital cost $120,000. That was the hospital bill. Medicare and(medicare supplement insurance) paid it, but at a redced charge, the same as private insurance.
If you don't pay the hospital will come after you.

Point is you have to have some kind of insurance, unless you die suddenly(accident, heart attack), and you never know what the future holds.

 

[82_VOL_83]

Nice. Considering what you use it for, you made the right decision. Would have liked to buy it had it been a win-win.
Consider getting in another accident?

LOL, was wondering what would have happened had they had an accident taking it down there. Was wondering if I could file two full claims.

 

[scooty_vol]

Yes, makes them work...... They spend too much time being wined and dined, corrupted at our expense. If they want to make this a career we as the people must demand they earn it. Line item voting so they are accountable, no spin.

A line item will not matter. You think that Biden has the wisdom to veto a wasteful spending bill? Line item will be as political as everthing else

 

[Orange defense]

When we default, it’s going to finish this nation right on up.

 

[lawgator1]

When we default, it’s going to finish this nation right on up.

Probably won't happen. But the MTG and Gaetz types will use it to get on the conservative channels and swear up and down they'll never vote for it.... and then they will.

Lather, rinse. Repeat.

 

[W.TN.Orange Blood]

It's great the democrats will work hard with republicans on important matters ... oh, wait.

 

[LouderVol]

So Yellen says the most recent tax receipts are lower than expected and June 1 is deadline to raise the limit. Biden has invited leadership from both House and Senate to the WH for next Tuesday.

We will obviously see the usual brinksmanship but I worry that people like MJT or Gaetz who laugh at burning the whole thing down might have too much input on this.

the issue is this is a reoccuring problem. So brinksmanship may be called for, or some reset needed. Because the last time this happened, the same exact discussions were had. some way to address the issue was promised, surely it won't happen next time because we will figure it out. and yet, here we are. in the exact same spot, facing the same shut downs as before. Adding to the debt ceiling is clearly not working. without some REAL changes we will be having this exact same discussion on whatever timeline they decide. no better off than we were before.

 

[lawgator1]

the issue is this is a reoccuring problem. So brinksmanship may be called for, or some reset needed. Because the last time this happened, the same exact discussions were had. some way to address the issue was promised, surely it won't happen next time because we will figure it out. and yet, here we are. in the exact same spot, facing the same shut downs as before. Adding to the debt ceiling is clearly not working. without some REAL changes we will be having this exact same discussion on whatever timeline they decide. no better off than we were before.

I agree. Unfortunately it seems like the brinksmanship has two things going for it: 1) it allows the players to use it to campaign for their own political purposes; and 2) there's really no choice but to increase it.

Its the theatrics that worry me and more poarticularly possibly some small group of loons deciding the theater is real and that they can strike a blow for some kind of ephemeral financial certitude by hanging it up.

 

[Jxn Vol]

Probably won't happen. But the MTG and Gaetz types will use it to get on the conservative channels and swear up and down they'll never vote for it.... and then they will.

Lather, rinse. Repeat.

I’m proud of you.

You made a post without mentioning your daddy.

 

[85SugarVol]

I'm 100% sure the 2A would be the biggest discussion and then I'd bet big money that freedom of the press and speech would be up for grabs along with the 4th and 10th. Once that opening gavel strikes IDC what the stated mission of the CoS is everything would be up for grabs and the federal .gov isn't going to stand idly by waiting to see what comes out of it.

The State has been trying to reign in Freedom of Speech in this country from the beginning.

 

[LouderVol]

I agree. Unfortunately it seems like the brinksmanship has two things going for it: 1) it allows the players to use it to campaign for their own political purposes; and 2) there's really no choice but to increase it.

Its the theatrics that worry me and more poarticularly possibly some small group of loons deciding the theater is real and that they can strike a blow for some kind of ephemeral financial certitude by hanging it up.

why is there no choice? remove 1 trillion from the "R preferred" stuff, and remove 1 trillion from the "D preferred" stuff. I am ready to split babies in half at this point. There is absolutely no reason our politicians can't come up with a balanced budget, and going back to your OP, yes, both sides are just as bad and guilty of it.

we need to bite the bullet and start figuring this out on our terms. Too much longer, a recession, or the BRICS "dollar" taking off, and the US is facing a real crisis and that will be the worst time to try and change anything.

 

[lawgator1]

why is there no choice? remove 1 trillion from the "R preferred" stuff, and remove 1 trillion from the "D preferred" stuff. I am ready to split babies in half at this point. There is absolutely no reason our politicians can't come up with a balanced budget, and going back to your OP, yes, both sides are just as bad and guilty of it.

we need to bite the bullet and start figuring this out on our terms. Too much longer, a recession, or the BRICS "dollar" taking off, and the US is facing a real crisis and that will be the worst time to try and change anything.

Balancing the budget is a great goal, but cannot get tied up in this narrow issue of the debt ceiling, especially with about 27 days to go.

 

[Vol8188]

Balancing the budget is a great goal, but cannot get tied up in this narrow issue of the debt ceiling, especially with about 27 days to go.

The issue has been brought up for far more than 27 days, if you’re upset with there only being 27 days to go, your complaint is with Biden alone for waiting until the last second and trying the “I’ll ignore it and hope it goes away strategy”

 

[McDad]

Balancing the budget is a great goal, but cannot get tied up in this narrow issue of the debt ceiling, especially with about 27 days to go.

Lack of planning on their part does not constitute an emergency on our part.

 

[LouderVol]

Balancing the budget is a great goal, but cannot get tied up in this narrow issue of the debt ceiling, especially with about 27 days to go.

I am wondering how its a narrow issue? it seems to be THE issue. as long as we spend more than we make the debt ceiling will ALWAYS be an issue.

It would be better if both sides would sit down, go tit for tat on cost cuts to avoid the current issue, and then do a similar thing for the long term. The other option is a government shut down where we don't really get to choose what gets shut down.

FWIW, I seem to recall us surviving just fine when the government had to shut down under Obama. It wasn't nearly the dead grandma case it was made out to be. So I am not as worried about the 27 days as you are.

 

[lawgator1]

I am wondering how its a narrow issue? it seems to be THE issue. as long as we spend more than we make the debt ceiling will ALWAYS be an issue.

It would be better if both sides would sit down, go tit for tat on cost cuts to avoid the current issue, and then do a similar thing for the long term. The other option is a government shut down where we don't really get to choose what gets shut down.

FWIW, I seem to recall us surviving just fine when the government had to shut down under Obama. It wasn't nearly the dead grandma case it was made out to be. So I am not as worried about the 27 days as you are.

A government shut down is not the same thing as a debt default. This explains the difference.

What’s the difference between a government shutdown and a failure to raise the debt ceiling?

The risk here is not of failure to approve spending bills -- this is far worse -- this is defaulting on interest payment on US Treasuries, considered to be the safest investment vehicle there is. If we miss interest payments on those, well, no one knows for sure but imagine if the safest investment you personally had turned out to be not so much.

 

[McDad]

A government shut down is not the same thing as a debt default. This explains the difference.

What’s the difference between a government shutdown and a failure to raise the debt ceiling?

The risk here is not of failure to approve spending bills -- this is far worse -- this is defaulting on interest payment on US Treasuries, considered to be the safest investment vehicle there is. If we miss interest payments on those, well, no one knows for sure but imagine if the safest investment you personally had turned out to be not so much.

How much can Chicken Little Chicken Little?

From Business Insider:
Treasuries are backed by the "full faith and credit" of the US government. In its 245-year history, that government has never defaulted on a debt, making US Treasury bonds the closest thing to a risk-free investment out there. In fact, they often act as a safety comparison for other investments.

Independent of the political spin, the only way Uncle Sam defaults on Treasury debt is if the "leaders" choose to do so. The last time we were at this impasse, exceptions to continue funding were made as the stalemate continued.

 

[lawgator1]

How much can Chicken Little Chicken Little?

From Business Insider:
Treasuries are backed by the "full faith and credit" of the US government. In its 245-year history, that government has never defaulted on a debt, making US Treasury bonds the closest thing to a risk-free investment out there. In fact, they often act as a safety comparison for other investments.

Independent of the political spin, the only way Uncle Sam defaults on Treasury debt is if the "leaders" choose to do so. The last time we were at this impasse, exceptions to continue funding were made as the stalemate continued.

May happen again this time because certain members of Congress would like to campaign on this and are counting on their constituents to not realize the distinction between future appropriations bills as opposed to servicing the debt, as was the case immediately above itt.