The underlying challenge is the balance between spending and revenues.
Last edited by Blau&Gruen; October 17, 2013 at 01:00 PM.
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golemzombiroboticvacuumcleanerstrawberrycream
Well it's all going to fall apart at some point. The most powerful Empire the world has ever known, lurching from crisis to crisis like this is some sort of sensible way to manage anything. Lot of denial and delusion as well, as to how bad their situation is. It wasn't an argument over whether to pay their bills as portrayed, they are arguing over borrowing more money from the chinese to pay their bills. The US cant pay its bills, it hasn't been able to pay its bills $17 trillion in the red ago. At some point, the gravy train pulls into the station. But Obama thinks well, I will set the Sovereign credit card ablaze, spend as much as I can before the wheels fall off - and then leave office and someone else can clean up the mess.
My bookshelf is a hate blog.
well your deficit is going in the right direction...it's just a shame this isn't all your debt or it would look quite positiveFY 2013*: $973 billion
FY 2012: $1,087 billion
FY 2011: $1,300 billion
FY 2010: $1,294 billion
$226 billion - take that one and add it to 2013 in unofficial federal debt and then there is agency debt. and stuff you off set to the public through fannie mac and stuff oh and that's not forget your "IOU's" to social security funds... *sigh* i weep from you mathematicians
Last edited by Blau&Gruen; October 17, 2013 at 01:51 PM.
Patronized by Ozymandias
Je bâtis ma demeure
Le livre des questions
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golemzombiroboticvacuumcleanerstrawberrycream
Maybe the us needs austerity!
The underlying challenge is old people vote.
The budget under current policy would reduce US debt levels, in the short term. Indeed, according to the CBO starting in about a year and lasting for about 3 years US debt-to-GDP ratio will fall. However, our older demographics start to catch up with the budget as more people retire and go on Social security and Medicare and stop paying income tax.
Spoiler Alert, click show to read:
Nothing terrible, nothing other first world nations aren't dealing with. But benefits to retirees and servicing US debt does suck up income and investment from younger generations. It would be best to do some tweaks, like Reagan did to SS and Obama did to Medicare in the ACA, so that the budget is healthy and there is room again for investments in infrastructure, research and education.
Politically it is much easier for Republicans to rail against and cut the discretionary side of the budget (think Gov. Perry). They've invested a lot in convincing their constituents that the Federal Government has become a monster spending money on useless departments. It is a rather big lie, discretionary spending is pretty well shrunk down.
Spoiler Alert, click show to read:
The Dem's dipped their toe into entitlement reform with the ACA and the cutting of Medicare. Romney tried to turn it into a campaign issue but it didn't really stick. Obama put wider entitlement reform out there in vague terms as part of a "grand bargain" which might boost his legacy, but rank and file Dem's on the Hill are not too thrilled about abandoning the position of protectors of SS/Medicare.
Both sides reluctance comes down to the fact that angering older voters is political suicide, so it is best to talk about something else.
Any discretionary spending above zero is too high.
So, on the Republican side, who were the principle behind-the-scenes backers of the shutdown? Heritage Foundation? I read that the Koch brothers had a hand in influencing things as usual.
I dont think you know what that word means Dalminar.
I was behind it, although I am not on the Republican side, I just used them as my pawns this time.
Quite a funny bit of trivia. The only real foreign example of a Government shutdown similar that to the USA omnishambles is 1975 Australia.
http://www.abc.net.au/archives/80day...19/3411587.htm
Failing to pass a budget, the Governor-General dismissed the Prime Minister and then the entire Parliament, triggering a new election. Australian MPs never tried that again.
Still, Australia has a comparatively sane political culture where that crap isn't rewarded by pockets of hick electorates.
http://en.wikipedia.org/wiki/Austral...crisis_of_1975
The Speaker is the Prime Minister, the Congress holds the purse strings, but the President is the CEO.
Eats, shoots, and leaves.
Young lady, I am an expert on humans. Now pick a mouth, open it and say "brglgrglgrrr"!
I thought there was a theory floating around that it was instigated by the CIA.
Eats, shoots, and leaves.