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Statist frauds!!!!!!
1 posted on 10/10/2013 7:25:43 AM PDT by whitedog57
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To: whitedog57

Why is it called “testifying”, when the Dems give lie filled speeches and then simply ask Lew to agree, which he does, quite compliantly?


2 posted on 10/10/2013 7:28:14 AM PDT by G Larry (Let his days be few; and let another take his office. Psalms 109:8)
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To: whitedog57

It is in the bankers interest to continue to loan money. Asking the FED to talk any other way is like asking a drug dealer to suggest his customer go to rehab.


3 posted on 10/10/2013 7:30:11 AM PDT by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: whitedog57
Treasury Secretary Jacob Lew warned Congress that uncertainty over the debt limit is stressing financial markets out.

Oct. 10 (Bloomberg) — U.S. Treasury Secretary Jacob J. Lew warned Congress that “uncertainty” over the debt limit is starting to stress financial markets and trying to time an increase to the last minute “could be very dangerous.” Lew was speaking in testimony prepared for a hearing before the Senate Finance Committee today.

debtceilgst

But not the growth rate in debt or entitlements? Obamacare and other entitlements will lead to even more explosive debt growth in the US.

debtprojection7

The US and much of the world has already been experiencing explosive debt in both the public and private sectors. See this link for a chart showing the growth over time.

us debt private matrix_0

1 month repos and reverses are jumping on the possibility of default.

rev1mo

Similarly, 1 month Ted spreads have spiked as well.

tedsp1m

All this makes the initial jobless claims spike look trivial. The 2nd worst print during 2013.

ijc101013

Speaker Boehner is seeking a “kick the can down the road” strategy that Democrats should like. That is, ignore that appalling growth in entitlements and debt and keep hoping nobody notices.

lew_head-in-the-sand

5 posted on 10/10/2013 7:31:12 AM PDT by upchuck (nobamacare must be stopped before it can live down to our expectations.)
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To: whitedog57

You cannot negotiate with petulant narcissists or expect them to behave responsibly.


6 posted on 10/10/2013 7:33:42 AM PDT by allendale
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To: whitedog57

The FEDs solution to our debt crisis is to use the crisis of debt to generate debt driven high inflation rates to inflate our way out of the debt problem by repaying old debt with new funds with inflated value.

Cutting back on borrowing shoots this strategy down. We are in a world where sound fiscal responsibility is counter to government Fiscal policy goals.


7 posted on 10/10/2013 7:42:24 AM PDT by rdcbn
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To: whitedog57

If Lew was speaking from the point of view of the Treasury, he would be wanting to preserve the so-called “credit rating” of the US government.

If that was his intention, he would only be advocating for lower government spending, since that would be all that a real “banker” would want to see since the debt pile is so high. A real bank would not be lending more when so much is owed relative to annual revenue without a plan to reduce spending.

Social Security and Medicare are the only areas that politicians want to cut, since that is cash going back to the sheeple, not to Federal vendors, contracting companies and employees.

Social Security and Medicare, however, were set up as separate trust funds with separate payroll deductions.

But we can all see now how the utterly corrupt and morally bankrupt financial elites and their servants, Congress, seek to lump those trust fund withholdings in with Federal income tax withholdings in the minds of the sheeple.


8 posted on 10/10/2013 7:42:50 AM PDT by PieterCasparzen (We have to fix things ourselves)
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To: whitedog57
Never allow yourself to be blackmailed or bullied.

Real leaders never resort to name-calling, bullying, threats, intimidation, or blackmail. (Obama, take note!)

11 posted on 10/10/2013 9:23:46 AM PDT by Rapscallion (Vlad the Impaler proposed no path to citizenship. Consider that.)
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To: whitedog57

12 posted on 10/10/2013 9:35:57 AM PDT by Hotlanta Mike ("Governing a great nation is like cooking a small fish - too much handling will spoil it." Lao Tzu)
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