Posted on 10/04/2013 4:50:08 AM PDT by Oldeconomybuyer
With the government shuttered and a deadline for raising the debt limit just two weeks off, anxious Republicans began steering the party away from a dead-end debate about the health-care law and toward discussion of a broader deal to reduce the nation’s debt.
Given that a bloc of hard-line conservatives is unlikely to vote to increase the limit under any circumstances, Boehner has told fellow Republicans that they must craft an agreement that can attract significant Democratic support.
(Excerpt) Read more at washingtonpost.com ...
This is BS. Treasury pays interest to the debt with daily tax receipts. It’s the first priority of payments. No action is required by politicians to prevent default.
Yeah, this president has spent $15 trillion dollars and the Republicans just keep giving him the checkbook to write more. The Republicans claim they don’t want to “default” on the federal debt. A rising debt is not the same as defaulting on the current debt.
The train needs to stop and go in reverse but the leadership of the two big parties don’t want that to happen.
The business and political leaders are conspiring to blow up a false “economic recovery” that is leading to disaster.
The debt issue alone cries out for a new political force committed to fiscal responsibility.
People seem to forget that every agency spends to the last dime what it got last year even on stupid things they with destroy with the next years money. That was raised because ‘we used up what you gave us, now we need more!
Having been on enough Navy bases I see all the useless things that go up at the end of the fiscal year, and get torn down after the new money is voted in. $7K speed bumps in 5 mph parking lots was last year’s spending along with some unneeded statues that only God knows how much they cost. And those speed bumps were not tiny. My Corolla’s wheels front wheels just get over hafl a turn then the back wheels are hitting the speed bumps again. My bad back really loves all 50 of them in one parking lot.
Which has very little handicap parking, but a lot of parking for the Brass, up front., that just sits empty.
Plus some useless buildings went up.
The only way to win in DC Politics is to STAY ON OFFENSE !
Let’s not forget that there is money flowing in to the FedGov coffers every single day. Millions and millions weekly. “Boatloads” as noted by in-justice Sotomayor.
The obligations of the government are to be first paid, and Zero knows that.
At this point, current inflows may or may not cover that debt service. However, if it does, and leaves excess, then that excess can be applied to current operations, etc.
Is it a bad situation? Yep. Is it likely to get ANY better with ANY of the plans currently under consideration? Nope.
The piper wants to be paid. And, still the pukes in DC fiddle.
Funny...”Boehner” doesn’t sound like a French name.
If he caves this time, he should be removed as Speaker. Period.
> “no surrendering - it’s post propaganda trying to weaken resolve of squishy Rs”
I believe you’re right.
But it’s also working on Freepers, and conservatives and republicans in general. Because we know Boehner is weak, they play on his reputation as a weakling to make us think of the futility of this conflict.
“Okay guys, right near the end of this game of chicken, I’m gonna swerve hard left. Lets play the game anyway to see who wins but that’s what I’m gonna do”
Wait, as long as the govt stays partially shutdown, at this point, do they still need to borrow anything? (Assuming no “war” starts or financial “crisis” erupts.)
The federal government has been running a 2 trillion dollar annual deficit. In order to meet other obligations such as Social Security and military spending after October 17, they must either raise the debt ceiling or default on interest payments to the existing debt.
So it’s not BS.
Let’s keep in mind that Boehner has only one vote. Buried in the story is the influence of Tom Cole. Cole is the François Leclerc du Tremblay for the establishment in the House. His puppy James Lankford (like Graham is to McCain), and my Representative, follows Cole everywhere.
Cole, in September, at town hall meetings, did not want to push the CR strategy. Lankford was in lock step with him despite my direct questions asking for his position, and the rationale why.
We must continually urge our “safe” representatives to do the right thing and hold firm.
Gwjack
Cruz will signal us if he sees a problem. And we’ll start another tsunami of emails, faxes, calls, and visits.
They are merely posturing so that people won’t know them for the pu$$ies they are.
They had no intention of standing firm. Ever. They just didn’t want to be confronted by their constituents over this because they are yellow-bellied cowards who shake and shiver when the dems pull this crap again and again.
So, in the end, the Republican party- ALL OF US- will be held accountable for this bullsh!t. We will be blamed for the shutdown and you a-holes will capitulate to the bullies. Again.
Thanks for destroying our country. The dems aren’t doing it alone. The Republican party is blatantly aiding and abetting.
You didn’t get it. After Oct. 17 THE FIRST RECIPIENTS OF THE TREASURY’s TAX RECEIPTS ARE THE FED BANKS TO PAY INTEREST ON THE DEBT. Ergo, there is no risk of default, just a risk of more fed programs not being funded since what’s left after the interest payments cannot be increased by issuing more debt. In which case Reid and O better get off their butts and start approving House spending bills as many more agencies will be affected after Oct. 17. Why are they being so intransigent?
Got it now?
THE FIRST RECIPIENTS OF THE TREASURY’s TAX RECEIPTS ARE THE FED BANKS TO PAY INTEREST ON THE DEBT
_____________________________________________________________
This is false. It is completely up to the treasury secretary what get’s paid and in what order. Starting in 2011 and several times since then the House passed a bill that would force treasury to pay interest first. Reid and Nobama both said they would never sign it.
I’m in favor of holding the line on the debt ceiling just pointing out the facts.
No you didn’t get it.
Of course the first payments are to the Federal Reserve which was the whole purpose of the 1913 Income Tax and the 1913 Federal Reserve Act. It has never changed from that time.
But the tax receipts are not enough to meet general obligations including Military and Social Security spending.
Social Security receipts are added to the general fund which is used to pay interest on existing debt. Than more debt is taken on to service Social Security recipients; viscious cycle.
So there will be default because defaulting on Social Security is not an option. Defaulting on the military is also not an option.
The GOP is likely to lose anyway. The number of Americans “on the dole” - via welfare, benefits, government jobs or contracts - is FAR higher than it was in 1995. And those people want their gravy train to never end.
That’s the spin however debt payments are not dismissable whereas payments to government and citizens recipients are. If interest payments are missed what do you think that would do to the interest rates and funding of all future government spending programs -the primary recipients being Democrats? See, the interest WILL be paid otherwise the Dem party, platform, base and will end.
Defaulting on SS and Defense is not an option for whom? Is O-care really worth that? I say let’s find out.
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