govt shutdown looms

[randallscott35]

Originally Posted by Danzig

you've got to be kidding. why in the hell would you want us to default? do you know what repercussions there could be, and not just here, but worldwide?

You do know that we take in way more than the interest each month...balance the budget. Enough of this. Time for the cat food boomers.

[jms62]

Originally Posted by randallscott35

You do know that we take in way more than the interest each month...balance the budget. Enough of this. Time for the cat food boomers.

Are you really an ******* or just play one on the Internet?

[Danzig]

Originally Posted by jms62

Are you really an ******* or just play one on the Internet?

your answer is so much more succinct then mine....

[randallscott35]

Originally Posted by jms62

Are you really an ******* or just play one on the Internet?

Call it like I see it. About everything.

[jms62]

Originally Posted by randallscott35

Call it like I see it. About everything.

I give you that.

[Danzig]

http://news.msn.com/us/va-chief-shut...llions-of-vets

About 3.8 million veterans will not receive disability compensation next month if the partial government shutdown continues into late October, Veterans Affairs Secretary Eric Shinseki says. Some 315,000 veterans and 202,000 surviving spouses and dependents will see pension payments stopped.

Shinseki is spelling out some of the dire consequences of a longer-term shutdown in testimony Wednesday for the House Committee on Veterans Affairs. The short-term consequences have meant that disability claims production has slowed by an average of about 1,400 per day since the shutdown began Oct. 1, and that has stalled the department's efforts to reduce the backlog of disability claims pending for longer than 125 days.

In all, more than $6 billion in payments would be halted with an extended shutdown.

[Danzig]

http://www.nationaljournal.com/econo...ryTiles_medium

The Fed's ongoing quest to drive down interest rates targets both goals. By keeping rates low, Bernanke makes it cheaper for borrowers to take out loans. And to convince lenders to take a risk on those loans, the Fed has bought up massive quantities of Treasury bonds—considered the ultimate safe investment among investors—in an effort to drive down the rate at which those bonds pay off to private investors. The hope is that investors, unsatisfied at the low rate of return they get back from the federal government, will instead put their money into the private sector.

That's where Congress is so damaging to Bernanke's efforts. By precipitating one crisis after another, lawmakers are sending investors running back to the type of investments that keep their money safe but do precious little in the way of economic stimulus.

If Congress wanted to spook lenders, it could hardly pick a better method than flirting with default. "It would be the opposite of what the Fed's wanted to do," says Stuart Hoffman, chief economist at PNC Financial Services. "It basically says something has happened outside the Fed's control that could shock the economy into recession."

For Bernanke, the current debt-ceiling standoff may be all the more infuriating because he's seen it, and its destructive effects, play out before. When the country last brushed up against the debt ceiling in the summer of 2011, investors flocked to Treasury bonds, looking for a safe place to park their assets while they waited to see if Congress was going to unleash economic chaos

[dellinger63]

Meanwhile, even though the government is shut down. They're hiring at over $100K/year plus benefits.

http://www.washingtontimes.com/news/...ted-in-spite-/

Approve and borrow 90 days of expense money, come up with a balanced budget and then we'll worry about hiring media relation guys.

Until then lets hold off on any more mechanical bulls, Detroit bailouts, and aid to countries whose majority hates us.

[jms62]

This should really piss you off.

http://www.nytimes.com/2013/10/06/us...ted=1&_r=5&hp&

[Danzig]

Originally Posted by randallscott35

You do know that we take in way more than the interest each month...balance the budget. Enough of this. Time for the cat food boomers.

i agree, balance it.
that said, they've already spent the money in past budgets, which is why we're about to hit the ceiling. but i can tell that you've read none of the articles i've posted, that explain the difference between spending and the ceiling. you probably think they should just pay 'important stuff' which is actually illegal. they have to pay bills as they come in. if the debt ceiling isn't changed, the treasury no longer will have borrowing authority to pay things as they come due, while they wait for deposits.
it's akin to operating a business and having no line of credit. i'm sure employees want paid every two weeks, regardless of cash flow.

[alysheba4]

Originally Posted by randallscott35

You do know that we take in way more than the interest each month...balance the budget. Enough of this. Time for the cat food boomers.

right on......cat food can be a little expensive. they could score two mystery meat tacos at Jacks for .99

[randallscott35]

Originally Posted by alysheba4

right on......cat food can be a little expensive. they could score two mystery meat tacos at Jacks for .99

Tacos are my favorite food.