Posted on 07/31/2020 8:38:13 PM PDT by RandFan
Trump ran as an outsider. He destroyed a bunch of GOP Good Ol’ Boys on his march to the White House. He’s a realist and I’m sure he expected some of this.
Continue this program indefinitely and you effective have two major Democrat/socialist measures imposed without so much as a public debate on the matter: a $15/hour minimum wage, coupled with a universal basic income of $15/hour.
Even with 40 million Americans allegedly unemployed, I still see Help Wanted signs all over businesses in my area. It makes absolutely no sense to continue this farce.
The political environment is no worse and no better than it has been for the last 20 years.
And maybe if they didn’t have 70% of that $3 trillion sitting unspent even as the latest Bills are being debated...
Trump wants more than even McConnell is willing to give, never mind the already 'no' votes.
Was he in the military, having been disabled with polio?
Although, I think I do recall a certain compromising “incident” that someone walked in on.
National debt is not demand debt. It's not a mortgage where you go to a bank and borrow new money at a lower rate to pay off an old loan at a higher rate. In order to retire debt you have to buy it on the open market, and the debt you will be retiring will be selling at a premium. So for every $1 trillion in debt you retire you will probably be paying $1.1 or $1.2 trillion to get it. And good luck getting anyone to buy debt with the negative rate you quoted.
The Federal Reserve will then pay the United States Treasury $3.25 Trillion per year.
No, the federal government will pay the treasury $3.25 trillion per year. The Fed acts as the agent for the treasury but the debt is serviced through tax revenue.
I think these are the "conservative" GOP Senators. They'll advertise their opposition to the bill as saviors of the national debt.
They'll be relieved come January when they don't have to worry anymore about governing and winning --- they can go back to preaching and relaxing.
Maybe the people need to get off their welfare butts and demand their economy to be reopened.
Per citizen it is not $400k, it is $80k.
No, the federal government will pay the treasury $3.25 trillion per year. The Fed acts as the agent for the treasury but the debt is serviced through tax revenue.
_________________________________________________
The Fed does, however, pay any profits it earns back to the Treasury Dept. Since 2008 it’s remitted somewhere around $700 billion in profits. Overtime this mitigates the cost of interest payment on bonds and maturing bonds.
I don’t see it. Maybe for a couple.
It’[;s mistaking the media for their constituency that is the error most are making.
If McConnell had any brains he would see that the Dems intend to do away with the filibuster and do it now. Force everything the Republicans want through right now and watch the Dems scream bloody murder all they want.
If just for once the Republicans would do something really outrageous they just might keep the Senate.
Otherwise, if we are going to lose the Senate lets make sure McConnell and Graham go down with it.
Hopefully a partisan one.
> “ And good luck getting anyone to buy debt with the negative rate you quoted.”
You haven’t been paying attention.
It started in the Obama Administration.
The Federal Reserve is the buyer of US Debt,
Directly.
No open market needed.
Liabilities, not just debt.
Mistakenly posted to you, don’t know how that happened.
> And good luck getting anyone to buy debt with the negative rate you quoted.
You havent been paying attention.
It started in the Obama Administration.
The Federal Reserve is the buyer of US Debt,
Directly.
No open market needed.
When it started, there was a big headline which quickly faded.
Around the same time, the M3 index was buried.
That money goes into the general revenue fund. Divert that $70 billion or so a year to the debt and you would have to offset spending elsewhere. Also a substantial part of Fed revenue comes from the Treasury instruments it holds. Make those negative interest and before long the Fed won't be paying the government anything.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.