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Debt Ceiling: At What Point Does this Have to Stop?
Posted on 3/3/17 at 8:09 am
Posted on 3/3/17 at 8:09 am
quote:
Treasury Secretary Steven Mnuchin said at his Senate confirmation hearing last month that he would like to see an increase in the debt ceiling "sooner rather than later" to avoid another standoff with Congress that could upset financial markets. The United States is one of few nations in which the legislature must approve periodic increases in the legal limit on how much money the federal government can borrow.
Rather than setting a specific dollar limit on the debt, Congress in 2015 simply suspended the ceiling until March 15, allowing normal borrowing to continue. The debt ceiling will reset at the total debt level outstanding on that day, but Congress will need to approve a new debt ceiling or extension.
As of Feb. 23, the federal debt stood at about $19.88 trillion, according to Treasury data.
LINK
This graphic is....
Couple this with what we're seeing from the Trump administration right now in what looks to be a spending bonanza with little mention of addressing the massive problems of entitlement spending.
Both W and Obama nearly doubled the debt. This blame falls on all of congress. Will Trump change that course? Is there even a feasible way to stem the bleeding?
Queue the "omg libz concerned with debt now"
12
Posted on 3/3/17 at 8:14 am to AUbused
Omg Libz concerned with debt now.
Seriously, we lack the seriousness as a nation to deal with the issue. If Democrats attempt to cut the military budget, they are "colluding with the terrorists to make us unsafe." It Republicans attempt to cut entitlements, they want babies and old people to die.
Easy solution, 10% cut in spending. Across the board.
Seriously, we lack the seriousness as a nation to deal with the issue. If Democrats attempt to cut the military budget, they are "colluding with the terrorists to make us unsafe." It Republicans attempt to cut entitlements, they want babies and old people to die.
Easy solution, 10% cut in spending. Across the board.
Posted on 3/3/17 at 8:15 am to AUbused
If the debt ceiling isn't raised, then the I think the president has the power to gut and cut shite, I might be wrong, suppose we will never go down that road 
Posted on 3/3/17 at 8:15 am to AUbused
I only got a C in college algebra but that looks like a parabola
This post was edited on 3/3/17 at 8:16 am
Posted on 3/3/17 at 8:17 am to TrebleHook
quote:
that looks like a parabola
Yep. That graph is fricking terrifying.
Posted on 3/3/17 at 8:18 am to AUbused
When Goldman Sachs tell our politicians to stop
Mnunchin is a worthless Goldman Sachs usurer, king of usury.
The thing is, whoever runs the federal reserve and treasury has to be pre approved by the userers first. Hence the individual has to be one of them
Things will never change. Washington DC is one giant slush fund management company and the slush fund is the US treasury
Mnunchin is a worthless Goldman Sachs usurer, king of usury.
The thing is, whoever runs the federal reserve and treasury has to be pre approved by the userers first. Hence the individual has to be one of them
Things will never change. Washington DC is one giant slush fund management company and the slush fund is the US treasury
Posted on 3/3/17 at 8:18 am to AUbused
A parabola has a max and falls on the other side. Looks like a bell.
You want to ramp up the fear? Call it an exponential.
You want to ramp up the fear? Call it an exponential.
Posted on 3/3/17 at 8:19 am to the808bass
quote:
Easy solution, 10% cut in spending. Across the board.
I think that is the ONLY way to get it done which neutralizes exactly the arguments that you point out.
My question is, will a 10% cut start to eat into the debt with interest and entitlement spending growing? Im not equipped to figure out what the actual effect would be on the debt in that scenario.
Posted on 3/3/17 at 8:21 am to the808bass
Was told 10% couldn't be done. Sure it can, did so as a public servant in Texas...it can be done and needs to be done, yesterday
Posted on 3/3/17 at 8:22 am to AUbused
The banks and usury kings own our politicians and government
In world history countries usually had enough at some point and kicked out the usurpers. When will we as Americans have enough?
In world history countries usually had enough at some point and kicked out the usurpers. When will we as Americans have enough?
Posted on 3/3/17 at 8:26 am to Duke
quote:
A parabola has a max and falls on the other side. Looks like a bell.
You must have gotten a D.
X^2 looks like OPs graphic
Posted on 3/3/17 at 8:27 am to the808bass
quote:
Omg Libz concerned with debt now.
Seriously, we lack the seriousness as a nation to deal with the issue. If Democrats attempt to cut the military budget, they are "colluding with the terrorists to make us unsafe." It Republicans attempt to cut entitlements, they want babies and old people to die.
Easy solution, 10% cut in spending. Across the board.
I would bet that if we cut 10% across the board no one would ever notice it....if it were possible to do it somehow without a lot of fanfare I would bet that it would go completely un-noticed...and in about 53 years we would be debt free....but we really don't need to be debt free...we should have been doing infrastructure spending the last few 8 years while interest rates were so low....
Posted on 3/3/17 at 8:28 am to AUbused
quote:
At What Point Does this Have to Stop?
It won't ever stop.....next question
Posted on 3/3/17 at 8:29 am to goldennugget
quote:
Things will never change.
I don't know about you but if I want my yard manicured properly, I'm going to use the guy that shows up with the right equipment to do it with and not some methhead who shows up with a rotary mower and a sling blade.
Posted on 3/3/17 at 8:30 am to the808bass
Republicans are the original deficit spenders. You think the debt is high now, wait until all these fiscal conservatives get done with it.
30 trillion holla!
30 trillion holla!
Posted on 3/3/17 at 8:30 am to TrebleHook
The shape of a parabola is a curve, with some maximum or minimum. Throw a ball up in the air, it falls. That path is a parabola. Could be a bowl looking shape flipped around.
I see a slope rapidly increasing there. So exp(something something time).
I see a slope rapidly increasing there. So exp(something something time).
Posted on 3/3/17 at 8:31 am to wfallstiger
quote:
Was told 10% couldn't be done. Sure it can, did so as a public servant in Texas...it can be done and needs to be done, yesterday
Did you just do a flat 10% across the board, or did you go in and completely eliminate stuff?
We have entire departments (Education, Energy) that do nothing but move $$$ around (nearly always to their favorites). They don't need a 10% cut, they need one at or near 100%.
Posted on 3/3/17 at 8:32 am to JoBoo
quote:
Republicans are the original deficit spenders. You think the debt is high now, wait until all these fiscal conservatives get done with it. 30 trillion holla!
Not really helpful.
Posted on 3/3/17 at 8:34 am to Quidam65
quote:
We have entire departments (Education, Energy) that do nothing but move $$$ around (nearly always to their favorites). They don't need a 10% cut, they need one at or near 100%.
While that may be true, 808's point, and one I've made in the past, is that if you get surgical you get "BUT MUH KIDZ" or "BUT MUH GUNZ" or "BUT MUH MEDZ". If you go brute force everyone bitches, but the pain is shared by everyone........neutralizing to a large extent their arguments.
Posted on 3/3/17 at 8:36 am to Quidam65
Had to do both at the same time. Selective reductions coupled with strategies to minimize impact, such as consolidating functions and maximizing physical plant to perform mission AND eliminated entire programs as they were cost prohibitive.
As difficult as it was some real creativity and self-directed initiative emerged
As difficult as it was some real creativity and self-directed initiative emerged
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