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Thread: Increased Debt- WE WIN??

  1. #1
    Iridium Spectrism's Avatar
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    Increased Debt- WE WIN??

    So, the republicrats are happy in this raising of the debt ceiling bill.... why? Because there are no tax increases. Really?

    http://www.christianpost.com/news/bo...ng-bill-53196/
    The Christian Post > Politics|Mon, Aug. 01 2011 08:02 PM EDT

    The compromise bill provides for an immediate increase of $400 billion dollars and allows President Obama to request another $500 billion in the next several months.
    However, Congress would stop the second installment by a veto proof two-thirds margin. A further increase of $1.2 and $1.5 trillion would be available after a special committee, also known as a “super committee,” of twelve members identifies matching levels of spending cuts. The committee must complete its work by Thanksgiving of 2012 and Congress must hold an up or down vote on the recommendations by December 23 of the same year.

    Huh?

    So a "super committee" of select commies will be our watchdogs and gateway to another $2.7trillion debt increase on top of the $900billion just approved. Oh, I feel safe with that. Not.

    Let's do some stupid numbers. Let's figure there are 230 million Amerikans over 18. Of those let's be generous and figure there are 150million paying any taxes (federal income). If we are adding, in this fine bill, another $3.6trillion of debt (400b + 500b + 1.2t + 1.5t) that works out to be $24,000 additional debt per working person.

    Eric Cantor said he was happy that there were no new taxes. How does he arrive at that? Inflation is the insidious tax that steals from savers.

    Boneher said he got 99% of what he wanted in this bill. Huh? Can someone splain that to me?


    There are many long range repercussions to this. I am sure the minds here will come up with a few.

    SPECTRISM time countdown2025

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    Potmetal Cebu_4_2's Avatar
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    [QUOTE]
    Quote Originally Posted by Spectrism View Post
    Boneher said he got 99% of what he wanted in this bill. Huh? Can someone splain that to me?
    Free booze for the next ~2 years?
    Jackie did it and you know it!

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    Great Fricken Yarn muffin's Avatar
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    The 900BN isn't going to last until November 12, so this is all either complete BS or just buying a few months to set up the backdrop for the next play scene. The 900 will be gone on debt rollovers before the end of 11. Unless, of course, the FED has some backdoor QEx ongoing to print money by stealth.
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    Iridium Libertytree's Avatar
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    This debt load is unsustainable, the ponzi scheme is reaching its anticipated failure point and the dollar is worthless, it's only a short matter of time before the intentional collapse occurs. The Fed will print and print until it can print no more, then the super congress will seek out the benevolent help of the IMF or some such to restore economic prosperity to the US and the worlds economies. Yeah, it's a WAG, but then again truth is stranger than fiction.
    "Truth is treason in the empire of lies"...Ron Paul
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  5. #5
    Joe King
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    If we are adding, in this fine bill, another $3.6trillion of debt (400b + 500b + 1.2t + 1.5t) that works out to be $24,000additionaldebt per working person.

    Eric Cantor said he was happy that there were no new taxes. How does he arrive at that? Inflation is the insidious tax that steals from savers
    It's called extending the payments over a longer term to sell out two generations for the price of one. lol
    ie extend and pretend.

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    Hatha Sunahara's Avatar
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    [QUOTE=Cebu_4_2;441240]

    Free booze for the next ~2 years?

    Yes! It's like a drunk drinking more booze to get sober.

    Hatha
    Cosmic justice is getting what you deserve.

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    Unobtanium mick silver's Avatar
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    were can i sign up for some of that free paper ? is anyone allow to get it for nothing . ps i need a case of jim
    “Now remember, when things look bad and it looks like you’re not gonna make it, then you gotta get mean, mad-dog mean. ‘Cause if you lose your head and you give up then you neither live nor win. That’s just the way it is.” ~ Outlaw Josey Wales…

    STOP F*CKING WITH US.

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    Great Value Carrots Sparky's Avatar
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    Quote Originally Posted by muffin View Post
    The 900BN isn't going to last until November 12, so this is all either complete BS or just buying a few months to set up the backdrop for the next play scene.
    ...
    Sure it is. We have to pay back $300B to the Federal pension fund that we've been robbing since May. That leaves $600B. We borrow $4B per day, so that allows for an additional 150 days, which takes us just about to the end of the calendar year, which allows plenty of time for the super committee recommendations, and the subsequent Congressional vote. Then, the next debt ceiling hike kicks in and takes them through the 2012 election. They've calculated these numbers very carefully for political reasons, not financial ones.

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    Unobtanium osoab's Avatar
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    Quote Originally Posted by Sparky View Post
    Sure it is. We have to pay back $300B to the Federal pension fund that we've been robbing since May. That leaves $600B. We borrow $4B per day, so that allows for an additional 150 days, which takes us just about to the end of the calendar year, which allows plenty of time for the super committee recommendations, and the subsequent Congressional vote. Then, the next debt ceiling hike kicks in and takes them through the 2012 election. They've calculated these numbers very carefully for political reasons, not financial ones.
    I thought that we still had to is a non-negotiable note S.S. to the tune of 90 billion for the 1st half of 2011. We also have 500 billion rolling over this month.

    It could be cut very close imho.
    “Democracy is also a form of worship. It is the worship of Jackals by Jackasses. It is the theory that the common people know what they want, and deserve to get it good and hard.”
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    "The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."
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    Moderator madfranks's Avatar
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    Quote Originally Posted by Sparky View Post
    Sure it is. We have to pay back $300B to the Federal pension fund that we've been robbing since May. That leaves $600B. We borrow $4B per day, so that allows for an additional 150 days, which takes us just about to the end of the calendar year, which allows plenty of time for the super committee recommendations, and the subsequent Congressional vote. Then, the next debt ceiling hike kicks in and takes them through the 2012 election. They've calculated these numbers very carefully for political reasons, not financial ones.
    What about debt rollovers?
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

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