Treasury Puts a Date on When Cash May Run Out: Oct. 17

UncleBuck

UncleBuck

Well-Known Member
Dr Kynes said:
Highlighted are 3 claims which are 100% fictional.

citation NOT needed.

nobody believes in the tooth fairy, those 3 claims, or strippers with a heart of gold.

with good reason.
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clinton left a surplus.

obama won in a landslide. twice.

and under his leadership, the deficit has been cut more than in half.

sorry the truth makes you angry.
 
UncleBuck

UncleBuck

Well-Known Member
NLXSK1 said:
Newsflash... The cash ran out a LONG time ago...
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still waiting on that downfall of the american dollar, or at least a faint whisper from even the least credible nutjob about it no longer being the reserve currency.

oh, and also that romney win.

maybe shout a little more about benghazi and it will happen.

:lol:
 
M

MrCopmton734

Member
UncleBuck said:
obama won in a landslide. twice.
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2012 http://elections.huffingtonpost.com/2012/results Obama beat Romney with almost 5 million more voters. That's a VERY LARGE number of people.
2008 http://www.cnn.com/ELECTION/2008/results/president/ Obama beat McCain with almost 9 million more voters. That's an EVEN LARGER number.

This is a fact. Not bullshit as Dr Kynes suggests. Unless you want to suggest that the votes are fixed, which isn't even relative to this fact.
 
Antidisestablishmentarian

Antidisestablishmentarian

Well-Known Member
I think that Obama won decisively but not by a landslide. Beat Romney by 4% of the popular vote, and less than 10% over McCain.

If you look at it by electoral votes, Obama did win in a landslide, but there are caveats to that. Just because someone wins all the electoral votes of a state, doesn't mean that the opponent lost the popular vote in that state by a landslide.
 
Dr Kynes

Dr Kynes

Well-Known Member
MrCopmton734 said:
2012 http://elections.huffingtonpost.com/2012/results Obama beat Romney with almost 5 million more voters. That's a VERY LARGE number of people.
2008 http://www.cnn.com/ELECTION/2008/results/president/ Obama beat McCain with almost 9 million more voters. That's an EVEN LARGER number.

This is a fact. Not bullshit as Dr Kynes suggests. Unless you want to suggest that the votes are fixed, which isn't even relative to this fact.
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it's not a "Landslide" unless there is an overwhelming majority , obama has never even won a Majority at all. he, like many recent presidents won by scoring less than 50% of the vote, he just got more than the other guy.

claiming obama won in a "Landslide" IS bullshit.

if thats how this shit rolls, then GW Bush was "Swept into office on a tidal wave of popular support, especially in Broward County Florida"
 
M

MrCopmton734

Member
I could be wrong on what is considered a landslide, but to me, 1 million votes is a huge number. It's even unfathomable for humans to really comprehend large numbers like that. Imagine if you had a stack of 1 million pennies, that's HUGE.
 
Doer

Doer

Well-Known Member
Logges said:
WASHINGTON — The Treasury will only have $30 billion of cash on hand by mid-October, putting the United States on the precipice of an unprecedented default, the department said on Wednesday.

The warning puts additional pressure on a hamstrung Congress, which is already struggling to prevent the federal government from shutting down over a budget impasse on Oct. 1.
In a letter to Speaker John A. Boehner of Ohio, Treasury Secretary Jacob J. Lew warned that a single day’s net expenditures can be as high as $60 billion. On any given day after that mid-October deadline, money going out might overwhelm money coming in plus cash on hand.
That means that until Congress lifts its statutory debt ceiling, the Treasury could miss or be forced to delay paying some of its bills. Such an event would be unprecedented, and financial analysts anticipate a violent market reaction that might raise federal borrowing costs, slow the recovery and destabilize markets around the world.
The House recently passed legislation that would order Treasury to prioritize payments to bondholders — an action meant to soothe the markets in the event of a debt-ceiling crisis. But the Obama administration has rejected that idea and refused to negotiate over the debt limit more broadly.
“The United States should never have to choose, for example, whether to pay Social Security to seniors, pay benefits to our veterans, or make payments to state and local jurisdictions and health care providers under Medicare and Medicaid,” Mr. Lew wrote.
“There is no way of knowing the damage any prioritization plan would have on our economy and financial markets. It would represent an irresponsible retreat from a core American value: We are a nation that honors all of its commitments,” he added.
But Republicans are currently debating what legislation to tie to raising the debt ceiling, such as defunding the Affordable Care Act or new spending cuts. That has set up a second showdown over budget and financial issues.
“The president remains willing to negotiate over the future direction of fiscal policy, but he will not negotiate over whether the United States will pay its bills for past commitments,” Mr. Lew said. “Extending borrowing authority does not increase government spending; it simply allows the Treasury to pay for expenditures Congress has already approved.”
The potential costs from a debt-ceiling default might dwarf the costs associated with a government shutdown. The Bipartisan Policy Center, a Washington research group, has estimated that market concern over the potential of a default in 2011 cost nearly $19 billion over 10 years.
The United States hit its statutory borrowing limit of about $16.7 trillion on May 19, meaning that Treasury could no longer issue new debt to pay the government’s bills. With the government running in the red, the Treasury has used a series of “extraordinary measures” to free up about $300 billion in cash. But those measures buy it only so much time.
In the letter, Mr. Lew set Oct. 17 as the effective deadline for Congressional action: after that date, the country would be at severe risk of missing or defaulting on some of its payments every day going forward.
The Treasury makes more than 80 million individual payments a month. After exhausting its extraordinary measures, it would miss about 30 percent of those payments until Congress raised the ceiling again.
According to the Bipartisan Policy Center, the Treasury is facing a $12 billion Social Security payment on Oct. 23 and a $6 billion interest payment on the public debt on Oct. 31.
On Nov. 1 alone, it needs to spend $18 billion on Medicare, $25 billion on Social Security, $12 billion on military pay and veterans benefits and $3 billion on the Supplemental Security Income program.










by Annie Lowrey - The New York Times

link http://www.nytimes.com/2013/09/26/business/treasury-warns-of-potential-default-by-mid-october.html?hp&_r=0
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O'm K. I'm crying. What am I crying about.

Oh, yeah, the constant lying from all sides that passes for the Press. And the Press will pass this shit instead of pressing back.

And then the spam in the forum.....<sniff> Sigh, OK. All better.
 
UncleBuck

UncleBuck

Well-Known Member
Dr Kynes said:
it's not a "Landslide" unless there is an overwhelming majority , obama has never even won a Majority at all. he, like many recent presidents won by scoring less than 50% of the vote, he just got more than the other guy.
*
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did he also crawl in through the window in the dark and not get arrested?

because he actually did win a majority of the inconsequential popular vote twice.

and where it really counts, in the electoral college, he delivered a massive shellacking. twice.

so much for the stuff you have to say.
 
ginwilly

ginwilly

Well-Known Member
The IMF and some governments (central banks) are calling for a mixed currency. Pretty sure the world is heading there eventually (wonder how many Brits thought the Sterling would be the reserve currency forever), but antics like we are about to see using the debt ceiling debate as the stage, may expedite the push.

http://money.cnn.com/2011/02/10/markets/dollar/index.htm

Old article, but you can see the seeds have been planted. The central bankers created something called SDRs they trade between each other that is nothing more than a made up currency and are jealous of our ability to print reserve currency from thin air. The article linked talks about the IMF wanting to stop using the dollar because when we devalue our dollar, commodities prices rise and energy costs go up with them all over the world. A devalued dollar is more costly to anyone in the world who uses oil for energy. They accused us of devaluing our dollar and this was before our last idiotic debt ceiling circus, 85B a month for two years to infinity and what will most likely be another debt ceiling circus. Feel free to blame the pubs, of course we are going to raise the debt ceiling, we ALWAYS raise the debt ceiling. It's nothing more than bs politics.

Leaving the politics, it's Bush's fault, line of thought out the discussion, and basing on economic principles, how long until we see a mixed currency reserve? I say within 20 years, maybe sooner if we stay the course.
 
Dr Kynes

Dr Kynes

Well-Known Member
UncleBuck said:
did he also crawl in through the window in the dark and not get arrested?

because he actually did win a majority of the inconsequential popular vote twice.

and where it really counts, in the electoral college, he delivered a massive shellacking. twice.

so much for the stuff you have to say.
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and switzerland's gun laws are much more restrictive than ours....

...and simultaneously much more permissive...

not even a good try.

narrow wins, or procedural wins in the Big States naturally is far more important than sweeping devastating losses for the O-Man in states not dominated by leftist groupthink, so clearly the electoral college is all that matters.

unless the electoral (and popular) winner is GWB, then the supreme court gave the whitehosue to him as a present from his daddy...

you suck at argument. all you have is fallacy, hypocrisy and stupidity.
 
Doer

Doer

Well-Known Member
smokinafatty said:
Just wait till China calls their loans due.
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Uh.....never happen. WE the same gun to their head. That cannot call the loans. They are timed Treasury Notes. WE can still say Fuck YOU and not pay, if it comes to that. There is not near enough Gold to cover all these cross debts in this world, IAC.
 
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