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(Fox News)   So it's the Monday after sequester...what happened to all the doom, gloom, mayhem, and despair predicted by the White House? White House: Um, yeah, we might have been exaggerating a little. Still the Republicans' fault, though   (foxnews.com) divider line 261
    More: Obvious, Kentucky Republican, White House, Senate Republican Leader, Kelly Ayotte, wage earners, Gene Sperling, military sciences, Mitch McConnell  
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777 clicks; posted to Politics » on 04 Mar 2013 at 8:01 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-03-04 11:39:09 AM  

Lusiphur: Gold process have flattened. Large scale institutional buying would raise process significantly. Why are gold process not soaring higher?

At this point, i have to conclude that you are intentional making shiat up. No one can be that stupid.


http://www.bloomberg.com/news/2012-12-21/brazil-doubles-gold-reserve s- with-third-purchase-as-banks-buy.html

Are you suggesting central banks are not buying serious amounts of gold?
 
2013-03-04 11:40:16 AM  
This is maybe not doom gloom and mayhem, but I walk by our state's official research library on my way to work, and they had posted notices that they're no longer doing business on Mondays. I don't know that's from the sequester for sure, but they weren't there last Friday.

What really incenses me is the trivialization of the cuts by the GOP, as though all that money had zero impact. It's not that it had no impact, it's just that THEY don't care because it doesn't impact them. It's the epitome of "I got mine, fark you" boiled down into social programs. I routinely see schoolchildren taking field trips to the aforementioned library, as well as a lot of college age kids and others who go there, who are all obviously getting something out of the institution.

Like I've said in other threads about the sequester- this money isn't coming out of organizations that are flush with cash, a lot of discretionary programs have already had deep cuts from the recession, and this is just taking more out. I know more than a few people who are getting furloughed directly as a consequence of the sequester- they're educators, social services people, and defense contractor people. I guess the GOP is content with just being 80% as good a country as we used to be.
 
2013-03-04 11:41:39 AM  

NateGrey: China remains the largest foreign creditor of the United States after it increased its holdings of US treasury bonds by $19.7 billion in December, data released by the US Treasury Department showed on Friday.Link

China loves the US dollar again as America roars back
Jin Zhongxia, head of the central bank's research institute, said America's energy revolution and export revival had shaken up the global landscape and would lead to a stronger dollar over time. "The dollar's global dominance will continue," he said.


3.bp.blogspot.com

What not increasing their holdings might look like.  You see how it increases steadily for a while, then levels off?  Yeah.
 
2013-03-04 11:42:44 AM  

MattStafford: Social Security is now running at a deficit, meaning they won't be buying any new Treasuries.


Just because they're issuing more checks than what they are collecting doesn't mean they don't still have money in the bank.

And what do you think SS is doing with the amount of money they have on hand?  Keeping it under their mattress, or investing it in something relatively safe?

MattStafford: I doubt there would be this much interest in gold if there weren't questions about the stability of the dollar.


Could it be that they see the current rise in price of gold as a short term gain possibility?  Why do you assume that the only possible scenario is that Central Banks have all decided that T bills stink, all of a sudden?

MattStafford: The Federal Reserve is already monetizing our Treasuries in order to keep yields low.


Again, you come to the wrong conclusion.  They are doing it to stimulate the economy.  Keeping bond rates low is only a side effect of a growing economy.
 
2013-03-04 11:42:47 AM  
MattStafford in thread.

Commence application of head to brick wall.

Repeat.
 
2013-03-04 11:42:54 AM  
I was all excited to come into a sequester thread today to post my personal narrative of how I see the sequestration affecting my local community, and then I realized that 90% of the thread is arguing about gold.

Oh well.
 
2013-03-04 11:45:40 AM  

MattStafford: NateGrey: China remains the largest foreign creditor of the United States after it increased its holdings of US treasury bonds by $19.7 billion in December, data released by the US Treasury Department showed on Friday.Link

China loves the US dollar again as America roars back
Jin Zhongxia, head of the central bank's research institute, said America's energy revolution and export revival had shaken up the global landscape and would lead to a stronger dollar over time. "The dollar's global dominance will continue," he said.

[3.bp.blogspot.com image 850x527]

What not increasing their holdings might look like.  You see how it increases steadily for a while, then levels off?  Yeah.


lol Sept 2012. Seems legit.
 
2013-03-04 11:45:48 AM  

MattStafford: NateGrey: China remains the largest foreign creditor of the United States after it increased its holdings of US treasury bonds by $19.7 billion in December, data released by the US Treasury Department showed on Friday.Link

China loves the US dollar again as America roars back
Jin Zhongxia, head of the central bank's research institute, said America's energy revolution and export revival had shaken up the global landscape and would lead to a stronger dollar over time. "The dollar's global dominance will continue," he said.

[3.bp.blogspot.com image 850x527]

What not increasing their holdings might look like.  You see how it increases steadily for a while, then levels off?  Yeah.


I like how your own graph contradicts what you're saying. Draw a best-fit line to project that trend for any reasonable timespan (i.e. not just 2011 and 2012) and what do you think you're going to see?
 
2013-03-04 11:45:53 AM  

MattStafford: What not increasing their holdings might look like. You see how it increases steadily for a while, then levels off? Yeah.


It's almost as if your graph answered the other question you had earlier.  Look at who else is buying those T-bills: Europe and Canada.
 
2013-03-04 11:48:07 AM  

Flab: Just because they're issuing more checks than what they are collecting doesn't mean they don't still have money in the bank.

And what do you think SS is doing with the amount of money they have on hand? Keeping it under their mattress, or investing it in something relatively safe?


They are no longer collecting more money than they pay out.  They have nothing to invest.  They've already bought Treasuries with their old surpluses, they aren't buying anymore, which is the point.

Flab: Could it be that they see the current rise in price of gold as a short term gain possibility? Why do you assume that the only possible scenario is that Central Banks have all decided that T bills stink, all of a sudden?


Sure - I guess it's possible that a ton of central banks throughout the world decided to start acting like an investment bank looking to make a short term gain.  I, however, use context to try to understand the world around me, and that context leads me to believe that people are worried about the stability of the global economy, and the USD dollar as well.

Flab: Again, you come to the wrong conclusion. They are doing it to stimulate the economy. Keeping bond rates low is only a side effect of a growing economy.


Sure.
 
2013-03-04 11:49:01 AM  

NateGrey: lol Sept 2012. Seems legit.


You serious about that?
 
2013-03-04 11:49:59 AM  

Fubini: I like how your own graph contradicts what you're saying. Draw a best-fit line to project that trend for any reasonable timespan (i.e. not just 2011 and 2012) and what do you think you're going to see?


Past actions are not an indicator of future actions.
 
2013-03-04 11:50:03 AM  

Flab: MattStafford: What not increasing their holdings might look like. You see how it increases steadily for a while, then levels off? Yeah.

It's almost as if your graph answered the other question you had earlier.  Look at who else is buying those T-bills: Europe and Canada.


Yep. Plenty of other people happy to buy our debt.

China not buying as much debt can mean something about us or it can mean something about China. In reality it means something about both, but if I had to assign a reason I'd be more likely to look at China's recent economic performance before I looked at ours.
 
2013-03-04 11:50:44 AM  

Flab: It's almost as if your graph answered the other question you had earlier. Look at who else is buying those T-bills: Europe and Canada.


Europe?  Broke as all fark, about to collapse into social unrest Europe?  We're going to rely on them to lend us money?  You guys are delusional.
 
2013-03-04 11:53:34 AM  

MattStafford: Fubini: I like how your own graph contradicts what you're saying. Draw a best-fit line to project that trend for any reasonable timespan (i.e. not just 2011 and 2012) and what do you think you're going to see?

Past actions are not an indicator of future actions.


Wow. Remind me not to take advice from you in the future.

We do occasionally have cataclysmic events that cause the course of events to completely defy our experience, but to act like every moment in time is totally unconnected to the past is foolish.
 
2013-03-04 11:55:37 AM  

MattStafford: Fubini: I like how your own graph contradicts what you're saying. Draw a best-fit line to project that trend for any reasonable timespan (i.e. not just 2011 and 2012) and what do you think you're going to see?

Past actions are not an indicator of future actions.


And yet, they're what you base everything you say on.
 
2013-03-04 11:59:13 AM  

Fubini: Wow. Remind me not to take advice from you in the future.

We do occasionally have cataclysmic events that cause the course of events to completely defy our experience, but to act like every moment in time is totally unconnected to the past is foolish.


It is foolish to think that China will continue to buy 100 billion dollars worth of bonds every year just because they used to.
 
2013-03-04 11:59:13 AM  
 
2013-03-04 11:59:39 AM  
Considering it's still at least six weeks till things like furloughs kick in I am sure we are a long way off from seeing the full effects.

Plus, that just isn't how financing in the gov works.
 
2013-03-04 12:04:45 PM  

MattStafford: Flab: It's almost as if your graph answered the other question you had earlier. Look at who else is buying those T-bills: Europe and Canada.

Europe?  Broke as all fark, about to collapse into social unrest Europe?  We're going to rely on them to lend us money?  You guys are delusional.


You're looking at this entirely wrong. The question is not whether the US economy is going to do good or bad tomorrow, the question is whether the US economy is going to be relatively stable over the foreseeable future, in relationship to other world economies.

The fact that people still want to buy our debt shows that most people still consider the US to be a strong and stable market, relative to the rest of the world. It's a little macabre to think about it this way, but as long as we're just doing the best, even if we weren't doing as well as we were a year or five years ago, we're still in a pretty strong position.
 
2013-03-04 12:05:59 PM  

Flab: MattStafford: They are no longer collecting more money than they pay out. They have nothing to invest. They've already bought Treasuries with their old surpluses, they aren't buying anymore, which is the point.

Liar.

Assets: Of our FY 2012 total assets identified in the Table of Key Measures above, $2,750.4 billion relates to earmarked funds for the OASI and DI programs, and approximately 98.3 percent are investments. Investments increased $64.5 billion over the previous year.
Liabilities: Liabilities grew in FY 2012 by $4.9 billion, primarily because of the growth in benefits due and payable, which is attributable to the 3.6 percent Cost of Living Adjustment provided to beneficiaries as of January 1, 2012. The majority of our liabilities (85.3 percent) consist of benefits that have accrued as of the end of the fiscal year but have not been paid.
Net Position: Our net position grew $59.3 billion in FY 2012 to $2,665.0 billion, which is attributable to financing sources in excess of our net cost. At this time, tax revenues, interest earned, and transfers related to Payroll Tax Holiday legislation continue to exceed benefit payments made to OASI and DI beneficiaries, keeping our programs solvent. (PDF)


http://www.ssa.gov/oact/trsum/index.html

From the report:  "Social Security's expenditures exceeded non-interest income in 2010 and 2011, the first such occurrences since 1983, and the Trustees estimate that these expenditures will remain greater than non-interest income throughout the 75-year projection period."
 
2013-03-04 12:06:11 PM  

MattStafford: NateGrey: lol Sept 2012. Seems legit.

You serious about that?


www.cartoonstock.com
 
2013-03-04 12:06:32 PM  

MattStafford: Past actions are not an indicator of future actions.


Wait, did you just try to dispute inductive reasoning?

Wow. Just, wow. That's beyond the pale, even for you.
 
2013-03-04 12:07:01 PM  

Fubini: The fact that people still want to buy our debt shows that most people still consider the US to be a strong and stable market, relative to the rest of the world. It's a little macabre to think about it this way, but as long as we're just doing the best, even if we weren't doing as well as we were a year or five years ago, we're still in a pretty strong position.


It doesn't matter if people think we're the best if they have no money to invest.
 
2013-03-04 12:08:25 PM  

Ishkur: Wait, did you just try to dispute inductive reasoning?

Wow. Just, wow. That's beyond the pale, even for you.


I'm getting called out now for saying that, just because China used to buy large amounts of Treasuries, they won't necessarily buy large amounts of Treasuries in the future?  Christ.
 
2013-03-04 12:09:17 PM  

Fubini: I was all excited to come into a sequester thread today to post my personal narrative of how I see the sequestration affecting my local community, and then I realized that 90% of the thread is arguing about gold.

Oh well.


Yep, the local Air Force base is giving furloughs to 90% of its workforce but this would have never happened if we were still under the Gold Standard...or something.
 
2013-03-04 12:14:39 PM  

MattStafford: I'm getting called out now for saying that, just because China used to buy large amounts of Treasuries, they won't necessarily buy large amounts of Treasuries in the future? Christ.


Doesn't mean they'll stop either. The stupidity of your statement is in the implicit assertion that the past has absolutely no relevance to future events.

That's complete horseshiat. Where the fark do you come up with this crap!?
 
2013-03-04 12:16:03 PM  

Mrtraveler01: Yep, the local Air Force base is giving furloughs to 90% of its workforce but this would have never happened if we were still under the Gold Standard...or something.


The argument would be that being on the gold standard would prevent us from hiring that workforce in the first place.  Fiat currency allows a country to temporarily live beyond their means - not permanently.  Having said that, however, a fiat currency can still function fine, its success or failure depends on those controlling it.
 
2013-03-04 12:18:09 PM  

Ishkur: Doesn't mean they'll stop either. The stupidity of your statement is in the implicit assertion that the past has absolutely no relevance to future events.

That's complete horseshiat. Where the fark do you come up with this crap!?


No, it doesn't mean they'll stop.  The fact that they stopped means they'll stop.

Me - China has stopped increasing their Treasury holdings.  This graph shows that for the past few years, their holdings have remained stable.

Him - If you draw a line of best fit starting from 2000, I would expect China to continue to increase their holdings at the same rate.

But yeah, side with him if it helps you sleep at night.
 
2013-03-04 12:22:46 PM  

MattStafford: Flab: MattStafford: They are no longer collecting more money than they pay out. They have nothing to invest. They've already bought Treasuries with their old surpluses, they aren't buying anymore, which is the point.

Liar.

Assets: Of our FY 2012 total assets identified in the Table of Key Measures above, $2,750.4 billion relates to earmarked funds for the OASI and DI programs, and approximately 98.3 percent are investments. Investments increased $64.5 billion over the previous year.
Liabilities: Liabilities grew in FY 2012 by $4.9 billion, primarily because of the growth in benefits due and payable, which is attributable to the 3.6 percent Cost of Living Adjustment provided to beneficiaries as of January 1, 2012. The majority of our liabilities (85.3 percent) consist of benefits that have accrued as of the end of the fiscal year but have not been paid.
Net Position: Our net position grew $59.3 billion in FY 2012 to $2,665.0 billion, which is attributable to financing sources in excess of our net cost. At this time, tax revenues, interest earned, and transfers related to Payroll Tax Holiday legislation continue to exceed benefit payments made to OASI and DI beneficiaries, keeping our programs solvent. (PDF)

http://www.ssa.gov/oact/trsum/index.html

From the report:  "Social Security's expenditures exceeded non-interest income in 2010 and 2011, the first such occurrences since 1983, and the Trustees estimate that these expenditures will remain greater than non-interest income throughout the 75-year projection period."


Oh, FFS...  Social Security doesn't pay current beneficiaries with money from the FICA account.  They use FICA income to invest in T bills as they have since their inception.  When these T bills pay off, they use that money to pay beneficiaries.  The fact that they're running a deficit to non-interest income means they may have slightly less to invest, but it's not as if Social Security is going to cease purchasing T bills so that they can pay current beneficiaries.
 
2013-03-04 12:26:44 PM  

MattStafford: Me - China has stopped increasing their Treasury holdings. This graph shows that for the past few years, their holdings have remained stable.
Him - If you draw a line of best fit starting from 2000, I would expect China to continue to increase their holdings at the same rate.


But since you claim that past actions have no effect on future actions, you are unable to make any predictions regarding China, period. Maybe they'll buy more. Maybe they'll stop. Who farking knows -- it's all just totally lolrandom!! Your argument is farking useless.

You retard.
 
2013-03-04 12:28:07 PM  

MattStafford: Ishkur: Doesn't mean they'll stop either. The stupidity of your statement is in the implicit assertion that the past has absolutely no relevance to future events.

That's complete horseshiat. Where the fark do you come up with this crap!?

No, it doesn't mean they'll stop.  The fact that they stopped means they'll stop.

Me - China has stopped increasing their Treasury holdings.  This graph shows that for the past few years, their holdings have remained stable.

Him - If you draw a line of best fit starting from 2000, I would expect China to continue to increase their holdings at the same rate.

But yeah, side with him if it helps you sleep at night.


Guess what.  The fact that their holdings have remained stable means that they are still buying Treasuries because otherwise the level would decrease as their existing holdings reach maturity.  They are rolling over their holdings from year to year.
 
2013-03-04 12:41:57 PM  

MattStafford: What would happen if bond yields returned to their historical average?


People who have savings would see a return on their savings again, and might be more willing to spend a little of it.
 
2013-03-04 12:44:08 PM  

BeesNuts: How many years do you think it will take before "bond yields returned to their historical average"?


Spring-summer of 2015.  Maybe 2016.
 
2013-03-04 12:52:00 PM  

Therion: If only they had worked harder, prosperity would be trickling down all over them.


No one wants to work harder when that just means they get taxed more.
 
2013-03-04 12:57:12 PM  

Sliding Carp: Therion: If only they had worked harder, prosperity would be trickling down all over them.

No one wants to work harder when that just means they get taxed more.


Because I certainly wouldn't want to make over $250K a year if it means a 3% raise in my taxes.  The horror...
 
2013-03-04 12:57:37 PM  

Stile4aly: Guess what. The fact that their holdings have remained stable means that they are still buying Treasuries because otherwise the level would decrease as their existing holdings reach maturity. They are rolling over their holdings from year to year.


Which isn't the same as increasing their holdings.
 
2013-03-04 12:59:15 PM  

Stile4aly: MattStafford: Flab: MattStafford: They are no longer collecting more money than they pay out. They have nothing to invest. They've already bought Treasuries with their old surpluses, they aren't buying anymore, which is the point.

Liar.

Assets: Of our FY 2012 total assets identified in the Table of Key Measures above, $2,750.4 billion relates to earmarked funds for the OASI and DI programs, and approximately 98.3 percent are investments. Investments increased $64.5 billion over the previous year.
Liabilities: Liabilities grew in FY 2012 by $4.9 billion, primarily because of the growth in benefits due and payable, which is attributable to the 3.6 percent Cost of Living Adjustment provided to beneficiaries as of January 1, 2012. The majority of our liabilities (85.3 percent) consist of benefits that have accrued as of the end of the fiscal year but have not been paid.
Net Position: Our net position grew $59.3 billion in FY 2012 to $2,665.0 billion, which is attributable to financing sources in excess of our net cost. At this time, tax revenues, interest earned, and transfers related to Payroll Tax Holiday legislation continue to exceed benefit payments made to OASI and DI beneficiaries, keeping our programs solvent. (PDF)

http://www.ssa.gov/oact/trsum/index.html

From the report:  "Social Security's expenditures exceeded non-interest income in 2010 and 2011, the first such occurrences since 1983, and the Trustees estimate that these expenditures will remain greater than non-interest income throughout the 75-year projection period."

Oh, FFS...  Social Security doesn't pay current beneficiaries with money from the FICA account.  They use FICA income to invest in T bills as they have since their inception.  When these T bills pay off, they use that money to pay beneficiaries.  The fact that they're running a deficit to non-interest income means they may have slightly less to invest, but it's not as if Social Security is going to cease purchasing T bills so that they ...


They can't increase their treasury holdings if they are paying out more than they take in.  And even if they were, it doesn't change the fundamental problem of the situation - The Trust Fund (and pension plans in general) are going to start redeeming their Treasuries instead of increasing their holdings to pay for boomer's retirement.
 
2013-03-04 12:59:28 PM  

MattStafford: Why would our economy have to be stronger for bond yields to go up?  In fact - that is the opposite of what would happen.  Why would you demand higher rates from a stronger economy?


Good lord.  I have my own deep misunderstanding of bond rates, based primarily on misapplication of sympathetic magic, and even I know these are probably the two stupidest questions ever asked on Fark.
 
2013-03-04 01:08:10 PM  
What a waste of a thread.  Shame on you all.
 
2013-03-04 01:12:40 PM  

MattStafford: Stile4aly: Guess what. The fact that their holdings have remained stable means that they are still buying Treasuries because otherwise the level would decrease as their existing holdings reach maturity. They are rolling over their holdings from year to year.

Which isn't the same as increasing their holdings.


Let's keep this simple.  Let's say China holds 10 bonds.  They've bought a bond a year for the past 10 years each with a 10 year maturity.  This year, their first bond comes to maturity and they use the proceeds from that bond to buy a new 10 year bond.

They are still purchasing 1 bond per year, just as they have always done.

They can't increase their treasury holdings if they are paying out more than they take in.  And even if they were, it doesn't change the fundamental problem of the situation - The Trust Fund (and pension plans in general) are going to start redeeming their Treasuries instead of increasing their holdings to pay for boomer's retirement.

Same deal.  Social Security has 100 bonds.  They've bought 10 bonds per year for 10 years.  Starting this year, they redeem their first batch of 10 bonds.  Because this doesn't meet their full obligation, they transfer some of their FICA income to pay for some benefits.  As a result, they can only buy 9 bonds per year.  Yes, it's a drop, but not a catastrophic one.
 
2013-03-04 01:18:44 PM  

MattStafford: Flab: MattStafford: They are no longer collecting more money than they pay out. They have nothing to invest. They've already bought Treasuries with their old surpluses, they aren't buying anymore, which is the point.

Liar.

Assets: Of our FY 2012 total assets identified in the Table of Key Measures above, $2,750.4 billion relates to earmarked funds for the OASI and DI programs, and approximately 98.3 percent are investments. Investments increased $64.5 billion over the previous year.
Liabilities: Liabilities grew in FY 2012 by $4.9 billion, primarily because of the growth in benefits due and payable, which is attributable to the 3.6 percent Cost of Living Adjustment provided to beneficiaries as of January 1, 2012. The majority of our liabilities (85.3 percent) consist of benefits that have accrued as of the end of the fiscal year but have not been paid.
Net Position: Our net position grew $59.3 billion in FY 2012 to $2,665.0 billion, which is attributable to financing sources in excess of our net cost. At this time, tax revenues, interest earned, and transfers related to Payroll Tax Holiday legislation continue to exceed benefit payments made to OASI and DI beneficiaries, keeping our programs solvent. (PDF)

http://www.ssa.gov/oact/trsum/index.html

From the report:  "Social Security's expenditures exceeded non-interest income in 2010 and 2011, the first such occurrences since 1983, and the Trustees estimate that these expenditures will remain greater than non-interest income throughout the 75-year projection period."


 Yes, that's what I said earlier.  They are handing out more in checks than they are collecting.

HOWEVER the interest on their current investments more than makes up for it, and they are still able to buy new tresury bonds, which is what you said they weren't doing.  Hence me pointing out that your pants are on fire.
 
2013-03-04 01:23:10 PM  

MattStafford: Which isn't the same as increasing their holdings.


Meanwhile in reality:

China remains the largest foreign creditor of the United States after it increased its holdings of US treasury bonds by $19.7 billion in December, data released by the US Treasury Department showed on Friday.Link
 
2013-03-04 01:47:04 PM  

PanicMan: What a waste of a thread.  Shame on you all.


static.seekingalpha.com
 
2013-03-04 01:52:58 PM  
This just in: FOX NEWS disappointed country didn't fall apart overnight.

/stay patriotic, my friends

dukeblue219: "Nobody ever suggested that this ... was going to have all its impact in the first few days," he told "NBC's "Meet the Press." "It is a slow grind."

Pretty much this. Even with all the doom-and-gloom, it should be somewhat obvious to anyone with intelligence that it wasn't going to happen overnight.  Same way if you lose your job, even if you have no savings, you don't find yourself in a box on the street corner the very next morning.


This is how the Conservative mindset works: if it ain't broke tomorrow, it's not worth fixing
 
2013-03-04 01:54:53 PM  
have the conservatives even thanked President Obama for shrinking the size of government? something the past Republican presidents have had no success in doing.
 
2013-03-04 01:57:42 PM  
I'm assuming the same thing that happens when you cut the military budget slightly?


DNRTFA
 
2013-03-04 02:21:44 PM  

verbaltoxin: johnny_vegas: where i work sequester impacts have already been felt as we were prepping for them...actual government civilian furloughs do not begin for at least 30 days

Now whether DoD really needed to furlough or cancel deployments to meet the budget cut instead of gold-watching other programs is a different story

The brass were totally ready to compromise operational capacity just to prove a point. They hate having their budgets touched, so they'll ground some training flights, moor some boats, and furlough civilians to cry and beg Congress to give them more money.

My company might actually end up being busier because of the sequester. Canceled ops means all that training has to be done elsewhere.


Yes with a but.

The gov can't simply renig on signed contracts with private companies like they can cancel their own plans.
 
2013-03-04 03:12:58 PM  

Smackledorfer: verbaltoxin: johnny_vegas: where i work sequester impacts have already been felt as we were prepping for them...actual government civilian furloughs do not begin for at least 30 days

Now whether DoD really needed to furlough or cancel deployments to meet the budget cut instead of gold-watching other programs is a different story

The brass were totally ready to compromise operational capacity just to prove a point. They hate having their budgets touched, so they'll ground some training flights, moor some boats, and furlough civilians to cry and beg Congress to give them more money.

My company might actually end up being busier because of the sequester. Canceled ops means all that training has to be done elsewhere.

Yes with a but.

The gov can't simply renig on signed contracts with private companies like they can cancel their own plans.


FYI, it's "renege" unless you want to be this guy:

cdn.madamenoire.com
 
2013-03-04 05:24:28 PM  

verbaltoxin: MattStafford: GoodyearPimp: For a glimpse of the future, let's check in with Greece.  Things are totally awesome there, right?

If we keep our current borrow and spend policy as is, we will look like Greece once our bond yields go up a bit.

Bond yields are the new coconut economy.


European bonds, or African bonds? No matter. This is an economics issue, and what we really need here is input from an economist.
 
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