[whitedog57]

Statist frauds!!!!!!

[G Larry]

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

[DonaldC]

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.

[upchuck]

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.

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

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.

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

Similarly, 1 month Ted spreads have spiked as well.

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

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.

[allendale]

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

[rdcbn]

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.

[PieterCasparzen]

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.

[Rapscallion]

Never allow yourself to be blackmailed or bullied.

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

[Hotlanta Mike]