Posted on 03/11/2024 7:51:29 AM PDT by Angelino97
...SUCKERS!(LOL)
“we cut off entitlements”
What’s with the Polish writing on my insulin?
Yep, they figure they have 19 years of grifting and pork remaining.
Me too. I know a guy. Brilliant. Columbia Business School endowed prof. Was Trump’s assistant Comptroller of the Currency.
He specializes in banks, finance, & panics. Every time I ask him about his he’s nonchalant. “I can see no contingency in which the U.S. government defaults. The Fed will just print more money.” I can never pin him down to what happens if the Fed can’t cover the amount of debt that is out there.
I don’t see what is so horrible about a default, though 85% of US debt is HOME-OWNED. It seems to me that ultimately we are left with one of three options:
1) Inflation so much worse than now that it comes close to Weimar levels.
2) Default that primarily affects pension funds and big investors (i.e, a LOT of ordinary retirees.
3) Start NOW raising SS age, increasing lower end “contributions,” and cutting Medicare, the biggest drivers of the debt. Course, this won’t happen and Trump has made it clear it’s off the table. The reason ought to be obvious: this is a single-agenda item for a president-—but it has to be someone with a Reaganesque mandate and who isn’t going to spend much of his presidency trying to clean out the snake dens of the FBI/CIA and fix the economy.
“spending like Medicare, Medicaid”
The Germans collect mandatory rebates on drug expenditures.
If the drug budget is 20 billion Euros and 29 billion Euros is spent, rebate invoices go out for 9 billion Euros.
That terrorists would use commercial airliners to attack.
Or ships. Or boats.
Good for them.
If you like the way the German government does things I suggest you move there.
L
Dear Landlord:
Section 8 will have expenditure recapture lien requirement.
No payments will be made to you by the government until the lien is recorded at your expense.
Secretary of HUD
“cutting Medicare”
Part A - hospital
Hospitals are basically clean rooms with medical equipment and nurses.
For a man to work 40 years it should be affordable for him to pay for 40 manhours of nursing care for each of several operations.
man: 80,000 manhours
nurses: 120 manhours
“cutting Medicare”
Part B:
20% of bill as co-pay
25% of rest by premiums
leaves 60% of billing amount
federal income tax at ~40% marginal rate on billing amount
Only 20% of Part B billing amounts have to be raised from third parties.
The problem for America is Washington. Our only hope is to get enough Rand Paul type folks elected to Congress, the Line Item Veto, and zero based budgeting. The Federal Government needs to shrink by about 40% for starters. The US has suffered a number of slow downs and recessions since WW2, while Washington has suffered none.
Along those lines, my guess is the government wouldn’t actually default. Instead it would use the threat of default as a lever to force various money grabs, probably heavy new taxes at first, and then direct confiscation of wealth if it got to that point.
OK folks, do your part to help prop up the government while it sells your children into debt slavery by continuing to buy government debt! /s
That would disproportionately impact women and minorities.
Most of the workers at my local post office are black women, and I live in a very white area.
Hmm. What a coincidence that most of the criminal politicians burying all of us in this debt will be dead in less than 20 years.
“or spending cuts”
This is humorous.
The debt is increasing exponentially. We are currently adding a trillion dollars to the debt every 100 days. And that figure is increasing.
+++++++++++
Oh, he feels the piston scraping
Steam breaking on his brow
Old Charlie stole the handle
And the train it won’t stop going
Oh no way to slow down
To name only one thing: the wall would be completed now if Trump had not had the election stolen, stopping most of the millions pouring in. Thereby stoping most of the cost, crime and death associated with them.
Keep pushing for those Dems, pal!
Protect your family. Buy Gold and Bitcoin. As much as possible.
Each quarter there are financial instruments to be paid out and others to be bought, so the amount added to the ND varies.
The bad news is, as you suggested, the costs associated with those transactions will only keep increasing.
I don't buy that we have 20 years more to party, either.
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