If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(CNN)   China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies. This GOP scheme is going to tank the dollar as the world reserve currency   (money.cnn.com) divider line 507
    More: Interesting, United States, Saudi Arabia, Japan, Singapore, Americanize, action alert, Christine Lagarde, reserve currency  
•       •       •

6852 clicks; posted to Main » on 14 Oct 2013 at 9:16 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



507 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | » | Last | Show all
 
2013-10-14 11:19:56 AM  

what_now: I came in here to joke about how some people are probably stupid enough to think this would be a good thing, because they don't understand how economics work and just want to stick it to the furriners, and then I saw this:

dittybopper: China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies.

So, you're saying that there would be some positive effects, then.


Congress has aptly demonstrated time and again they don't understand economics or finance and they're proud of it. The right wing circus media encourages their followers to remain ignorant and ignore any other view as "liberal propaganda," and they do so blissfully.

/you stupid Koch brothers are going to lose a ton on this one.
 
2013-10-14 11:20:51 AM  

Rindred: That's not how you cut a baby in half

Yes, it is. You have to chop from the groin - with the help of gravity - through the body. If you struck the skull, the rounded (even if not quite solid yet) skull might partially deflect the blow and cause an uneven bisection. And that wouldn't be fair.

/Metaphor is good, so long as we all agree that the liar "mom" of the story represents the Republicans
//No, Mr. Police Investigator, this post was in jest and I do not, in fact, advocate or...ouch! Easy with those cuffs!


You need a band saw to cut a baby perfectly in half.. otherwise, one party will get more baby than the other.
 
2013-10-14 11:21:03 AM  

jst3p: The_Original_Roxtar: that's what happens when you pass a law without caring about where the money to pay for it comes from.
the money isn't there.

Which law are you referring to?

/please say Obamacare so that I can confirm my suspicion that you have no idea what you are talking about.


every spending/stimulus bill ever.
 
2013-10-14 11:22:31 AM  
Sure. It's the GOP.  Everything is fine, if it weren't for them.  Will the people who believe that line up so the smart people can point and laugh at them?
 
2013-10-14 11:23:59 AM  

fluffy2097: NewportBarGuy: There is no other reserve currency.

We'll just have a much weaker one thanks to Congressional Republicans.

It's Ok. We can use Zimbabwe's currency as a reserve. They printed plenty of it. Look. With a single bill from Zimbabwe we could pay off our debt's multiple times.

[i.imgur.com image 850x421]
/yes, the dollar will be valued about this much if we default.
[www.goldonomic.com image 468x351]
/what paying for a happy meal will soon look like.


Can you imagine how much a gallon of gas will cost?
 
2013-10-14 11:24:31 AM  

Enitria: So, saying that, what are the chances that middle eastern countries would use their oil reserves to step in and create a reserve currency? Yes, an oil standard; oil is a heck of a lot more valuable than gold.


Good luck. Oil is about the exact opposite of what makes an ideal reference currency.
 
2013-10-14 11:25:11 AM  

CleanAndPure: HotIgneous Intruder: Fark_Guy_Rob: I owe hundreds of thousands of dollars in debt at ridiculous interest rates.  Much of it is immune from bankruptcy (yay - education bubble!).

Bring on the inflation.  When a loaf of bread costs 100 dollars and my annual salary is 500,000k - my debts will be a drop in the bucket.

Good plan, but I suspect interest rates will go up to match the inflation.

They certainly will...

However for many people the majority of their debt is their fixed rate mortgage.

If we have 1000% inflation...I will still be paying 3% something interest.

Typically inflation hurts the rich but is beneficial to the majority of people... that's why politicians hate it.


Yes. Inflation hurts businesses that need cash for growth. (Take note of the billions that companies like Apple, Johnson & Johnson, etc have squirreled away to insulate their cash hungry research programs from inflation.) Old people complain about inflation because "a tomato use to cost a nickel" but actually, old people have cash. And when inflation comes, cash is king. It makes selling a house difficult because their are fewer folks qualified for financing, which also keeps prices down.

Deflation is different. That's when it's good to owe money - especially if you are holding hard sellable assets. If you are only holding cash - that's bad. Gold doesn't help either. No one is eating gold. Lead is the trump commodity under deflation conditions - you can get anything you need with bullets. (That's why they have become a scarce commodity under this administration.)
 
2013-10-14 11:25:34 AM  
screw it, so what if a couple thousand people die because of the shut down, at least we didn't have to raise taxes on millionaires to balance the budget.  I mean, do you have any idea how many millionaires die each year because they are taxed?  I mean, if some 40 year old is a deadbeat, his or her kids deserve to die, If they don't like it, maybe they shouldn't have decided to be born.  They can get jobs, I mean, there aren't any labor laws for 6 year old kids right?  I hear they make great miners.
 
2013-10-14 11:25:35 AM  

NewportBarGuy: theorellior: NewportBarGuy: There is no other reserve currency.

Said the British seventy years ago.

They lost their entire f*cing empire. We have not. We will not. We'll just have a damaged reputation, the second largest economy, and the world's largest military. None of that will change with a breach of the debt ceiling because it is not permanent.



Am das Endet ist unser Sieg!  Berlin bleibt Deutsch!  Exceptionalismus!

 
2013-10-14 11:27:05 AM  

Joe Blowme: Ok, tell me how we will default on a loan payment that say 60 billion/month out of 250billion/month income when by law that intrest has to be paid?


1. It's illegal
2. It's also impossible
3. The timing doesn't work
4. Prioritization doesn't solve the problem

Link
 
2013-10-14 11:28:13 AM  

Director_Mr: If you are blaming one side any more than the other you aren't paying attention.


Oh, bless your heart.
 
2013-10-14 11:28:27 AM  

The_Original_Roxtar: jst3p: The_Original_Roxtar: that's what happens when you pass a law without caring about where the money to pay for it comes from.
the money isn't there.

Which law are you referring to?

/please say Obamacare so that I can confirm my suspicion that you have no idea what you are talking about.

every spending/stimulus bill ever.


The deficit is shrinking.

images.bwbx.io

We are spending less:

moneymorning.com


The problem is being addressed, what is your problem with this?
 
2013-10-14 11:28:28 AM  
I predict nothing will happen. Obummer will put on his cape and stand at the Capital Hill entrance.
The wind will catch the cape and flutter and the decider will pull something out of his butt to end it all.
 
2013-10-14 11:29:37 AM  

Bit'O'Gristle: I'm no economist, but isn't our dollar value based and backed up by the gold in fort knox? Or am i mistaken.  Anyone?


The US dollar is not backed by gold. it's backed by "the full faith and credit of the United States of America", which USED to be absolute. But republicans are now whacking it with a stick hoping candy comes out.
 
2013-10-14 11:30:43 AM  

RickN99: SpectroBoy: The Dem's position is "Pass a clean bill to prevent the impending disaster"
The GOP position is "No funding until we get our other demands met too."

Dems: Pass a clean bill and fund the entire government.
Obama:  We won't negotiate with the GOP about government funding until the GOP funds the entire government.
GOP:  We don't want to fund the entire government; THAT'S the issue.

GOP: We've passed bills to fund some parts of the government that we don't have an issue with.  Let's negotiate about the other parts.
Dems:  Nope. Meet 100% of our funding demands or nothing gets funded.
Obama:  Gonna veto them if they get to me.  Fund the entire government; then we'll negotiate about the funding.
GOP:  We don't want to fund the entire government; THAT'S the issue.


Would YOU want to set a precedent where if a minority in Congress wants something, they should simply hold hostage the American economy and well-being to do so?  I certainly would not.
 
2013-10-14 11:30:45 AM  

Dusk-You-n-Me: Joe Blowme: Ok, tell me how we will default on a loan payment that say 60 billion/month out of 250billion/month income when by law that intrest has to be paid?

1. It's illegal
2. It's also impossible
3. The timing doesn't work
4. Prioritization doesn't solve the problem

Link


 One form this takes is the patently absurd remarks of Rep. Ted Yoho (R-Fla.)

This yahoo's name is really Yoho? As in "You only Herp once! Then you Derp!"?
 
2013-10-14 11:36:28 AM  

Ambivalence: Bit'O'Gristle: I'm no economist, but isn't our dollar value based and backed up by the gold in fort knox? Or am i mistaken.  Anyone?

The US dollar is not backed by gold. it's backed by "the full faith and credit of the United States of America", which USED to be absolute. But republicans are now whacking it with a stick hoping candy comes out.


I lol'd.
 
2013-10-14 11:36:51 AM  
Cruz is most powerful man in universe...
 
2013-10-14 11:37:35 AM  
I love how this is all working out exactly as I predicted.
 
2013-10-14 11:40:31 AM  

brnt00: itsaidwhat: Obama and his libtard sycophants are equally to blame by representing the do-nothing leaches of society.

I laughed when POTUS nazi'd the national parks and bank rolled his NPR media. What a joke to all of us that work for a living and don't have the time to waste gawking at a tree or a giant hole in the ground. And to the veterans regarding closed memorials - I don't need to stare at a monolith to be reminded of their sacrifice - I see that in everything that I am free and able to enjoy all around me. I and my freedom are not victim to any so-called shutdown.

When a "government shutdown" still leaves 83% of the (bottom feeding) public servants at work, then we have real problem with entitlements at the top and the bottom of society.

And to the foreigners afraid of our debt ceiling, you are welcome - to the financial shelter and stability our American enterprise has afforded you under your own years of tribunal unrest. Suck it up.


This is good. Even sneaked in a Godwin. A bit forceful for my taste, but you've got raw talent kid.  Refine the presentation and you'll be thread shaitting in no time!


Thank you. But I'm not trolling - because no one is paying me to do that - which I suspect is not the case for some Farkers. I doing what they call "venting". I can't take time from my busy work schedule to drive a tractor trailer thru DC or sleep in a park for an indefinite period / non-specific issue. But I can rant on Fark with the best of them. Don't cost nothin.
 
2013-10-14 11:40:42 AM  

Enitria: demaL-demaL-yeH: NewportBarGuy: There is no other reserve currency.

We'll just have a much weaker one thanks to Congressional Republicans.

We all wish this, but no.
Destroying the dollar as the world's reserve currency drags the Euro into oblivion, and the healthy economies of Europe crash. The UK? Yeah, no.
Japan and China crash right along with us.
No other economy is big enough, and none is independent enough of ours that it isn't dragged down, too.
You'll have a huge panic sell-off of financial assets affecting tens of trillions in investment.
What's on the line is global financial meltdown followed by a depression that makes that of the 1930s look like a minor sad.
There is no fallback.

/That's why the whole world is becoming increasingly strident about this.

So, saying that, what are the chances that middle eastern countries would use their oil reserves to step in and create a reserve currency? Yes, an oil standard; oil is a heck of a lot more valuable than gold. I know why we went off the gold standard, but do you think a world in deep doo is going to care about the niceties? Besides, controlling the money supply controls how much of a military the US can afford. Something I know they have a keen interest in.


Zero. Because this:
upload.wikimedia.org
This.

And this.
 
2013-10-14 11:40:59 AM  
www.angryflower.com
 
2013-10-14 11:43:46 AM  

This text is now purple: Enitria: So, saying that, what are the chances that middle eastern countries would use their oil reserves to step in and create a reserve currency? Yes, an oil standard; oil is a heck of a lot more valuable than gold.

Good luck. Oil is about the exact opposite of what makes an ideal reference currency.


And that, too.
 
2013-10-14 11:44:01 AM  

ajgeek: SpectroBoy: itsaidwhat: Obama derpityderpityderp.

[1.bp.blogspot.com image 600x682]

That one is so much better than my attempt to make the background black. Thanks for that.

Totally unrelated to what Spectroboy gave me. I admit I have no idea why the debt ceiling MUST BE RAISED or we automatically default. Best guess is that the debt ceiling must be raised because inflation which is on average 3% per year. I also know that fiat currency is also, effectively, debt.

Query: Would the US defaulting start a new World War? Is it possible that the people in charge want a war because of what it did to our economy last time?


The US default would not start a world war. HOWEVER there will be a revolt in the neighnorhood Walmart when the EBT cards stop working permanently.

"They have no bread? Let them eat Little Debbie Cakes!!" - said the honorable senator from the great state of Arkansas.
 
2013-10-14 11:44:09 AM  

www.truthdig.com



cdn2-b.examiner.com



www.wwrl1600.com


 
2013-10-14 11:44:15 AM  

Director_Mr: If you are blaming one side any more than the other you aren't paying attention.


Both sides are equally at fault, right?
 
2013-10-14 11:44:16 AM  

Elroydb: I haven't read everything in this thread but has no one stated the obvious that as long as more money flows into the Treasury than exceeds the principle and interest payments on the debt there is 0% chance of defaulting?

Also has anyone questioned the logic of "Be able to borrow more money so you can pay us with borrowed money?"

Also for tl;dr:

at this point in time the only we default on our debt without raising the debt ceiling is if we choose not to pay our debts. We have the money in our hands. We just have to reach our hands out and give the money to them


The Treasury department writes millions of checks per day. It's automated. They've already said that they have absolutely no way to prioritize what debts to pay and what debts not to pay. They literally can't just write checks for treasury bond interest and/or pick other debts to pay or not pay.

Besides that, do you really want to be in a situation where SS checks aren't sent out, government contracts aren't paid, and many millions of people don't get the wages owed to them because they're working on contracts for the federal govt or working as part of the supply chain for people and companies doing govt contracts? It would be catastrophic.
 
2013-10-14 11:44:38 AM  

AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.


F and U

The Democrats are Hell demon spawn Satan uses to directly destroy Mankind through corruption, death, lies and every form of sin ever known, and they will take down the USA until we become trash heap dwellers like Manila without whimsey.

The Republican Party began as Progressives.

Try not to be a simpleton carrying the water for fools and men of no honor.
 
2013-10-14 11:47:04 AM  

Potter82: Director_Mr: If you are blaming one side any more than the other you aren't paying attention.

No, people like you are the ones who are not paying attention. To say that the Democrats are as much to blame as the Republicans for creating this crisis is completely dishonest and/or lazy.


Exactly!! The Democrats are currently the majority. That makes it mostly their fault. Or do you subscribe to the theory that minorities are to blame for America's problem (that's racist)?
 
2013-10-14 11:47:12 AM  

Clemkadidlefark: AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.

F and U

The Democrats are Hell demon spawn Satan uses to directly destroy Mankind through corruption, death, lies and every form of sin ever known, and they will take down the USA until we become trash heap dwellers like Manila without whimsey.

The Republican Party began as Progressives.

Try not to be a simpleton carrying the water for fools and men of no honor.


24.media.tumblr.com
 
2013-10-14 11:47:52 AM  

moefuggenbrew: An attempt to "compromise" by keeping the government open as long as we eliminate funding that would provide all Americans with healthcare.


And they talk about Republicans "lying". How does this law "provide" all Americans with healthcare? Simply, it requires that all Americans PURCHASE healthcare insurance. Therefore, it  PROVIDES nothing.
 
2013-10-14 11:49:57 AM  

Dusk-You-n-Me: Joe Blowme: Ok, tell me how we will default on a loan payment that say 60 billion/month out of 250billion/month income when by law that intrest has to be paid?

1. It's illegal
2. It's also impossible
3. The timing doesn't work
4. Prioritization doesn't solve the problem

Link


Section 4 of the 14th amendment makes it legal.
 
2013-10-14 11:50:25 AM  

ZurkisPhreek: Hmmm... if this plays out right (or wrong, however you wish to view it), WW3 will be fought with money?


It will be started with data - 0's and 1's and escalate to land grabs and the movement (shipping) of natural resources.
 
2013-10-14 11:53:04 AM  

Joe Blowme: Section 4 of the 14th amendment makes it legal.


Great. It's still impossible.
 
2013-10-14 11:53:26 AM  

SpectroBoy: RickN99: GOP:  We don't want to fund the entire government; THAT'S the issue.

You proved my point. It is the GOP and only the GOP that is not funding the government at this point. It is THEIR FAULT. It is not a "both sides are bad" issue.

Thanks for backing me up.


It's not the GOP but rather America that's not "buying" the crap that Democrats want to serve up as "essential government". Getting a majority and passing shiat laws only works if you can enforce them. That's why the political war is now on with the IRS.
 
2013-10-14 11:55:24 AM  

PC LOAD LETTER: someone has zero idea how global economics actually works.


I didn't say it wouldn't affect the economy.
I said that leaders don't care about the outcomes more than their own standing.

There are things they can do to prevent a trainwreck, but they don't seem particularly concerned about that anymore than they are about preventing famines in Africa or saving civilians in Syria.

As a result we get alot of lip service but no action.
Everyone wants to blame the other guy when anyone could have resolved the problem.
 
2013-10-14 11:58:06 AM  

Dimensio: RickN99: SpectroBoy: The Dem's position is "Pass a clean bill to prevent the impending disaster"
The GOP position is "No funding until we get our other demands met too."

Dems: Pass a clean bill and fund the entire government.
Obama:  We won't negotiate with the GOP about government funding until the GOP funds the entire government.
GOP:  We don't want to fund the entire government; THAT'S the issue.

GOP: We've passed bills to fund some parts of the government that we don't have an issue with.  Let's negotiate about the other parts.
Dems:  Nope. Meet 100% of our funding demands or nothing gets funded.
Obama:  Gonna veto them if they get to me.  Fund the entire government; then we'll negotiate about the funding.
GOP:  We don't want to fund the entire government; THAT'S the issue.

Currently proposed government funding levels are a direct result of Speaker John Boehner receiving "98%" of what he wanted. Current funding levels, therefore, are at Republican-desired levels.

The original Republican-passed spending bill did not change government funding levels; it served only to eliminate an existing law that they did not like, despite that law having been signed into law three years ago, surviving a Constitutional challenge and effectively surviving voter referendum when the President who championed it defeated a challenger who promised to repeal it.

Your argument is a lie and you are a liar for making it.


"You (Libtard Santa Claus and your free money give-away-world policies) sit on a throne of lies!"
 
2013-10-14 11:59:12 AM  

Richard C Stanford: Who cares about them thar furriner places. What, a bunch a squinty-eyed commies, weird cartoon watching commies, terrorists, commie nazis, and what ever the hell a Singapore is. I don't know where that is, and real 'Muricans don't! We care about 'Murica and tossing General El Presidente Hussian Commie Osama Fartbongo Obammy outta the WHITE house.
Kin I get a cheer for willful ignorance!


Sure, I'll cheer for you. "Cheers!"
 
2013-10-14 12:00:36 PM  

jst3p: The_Original_Roxtar: jst3p: The_Original_Roxtar: that's what happens when you pass a law without caring about where the money to pay for it comes from.
the money isn't there.

Which law are you referring to?

/please say Obamacare so that I can confirm my suspicion that you have no idea what you are talking about.

every spending/stimulus bill ever.

The deficit is shrinking.

[images.bwbx.io image 630x420]

We are spending less:

[moneymorning.com image 590x437]


The problem is being addressed, what is your problem with this?


we haven't had a balanced budget since Clinton was in office. Also, listing all your stats as a percentage of GDP is a bit misleading.
 
2013-10-14 12:00:58 PM  

itsaidwhat: Dimensio: RickN99: SpectroBoy: The Dem's position is "Pass a clean bill to prevent the impending disaster"
The GOP position is "No funding until we get our other demands met too."

Dems: Pass a clean bill and fund the entire government.
Obama:  We won't negotiate with the GOP about government funding until the GOP funds the entire government.
GOP:  We don't want to fund the entire government; THAT'S the issue.

GOP: We've passed bills to fund some parts of the government that we don't have an issue with.  Let's negotiate about the other parts.
Dems:  Nope. Meet 100% of our funding demands or nothing gets funded.
Obama:  Gonna veto them if they get to me.  Fund the entire government; then we'll negotiate about the funding.
GOP:  We don't want to fund the entire government; THAT'S the issue.

Currently proposed government funding levels are a direct result of Speaker John Boehner receiving "98%" of what he wanted. Current funding levels, therefore, are at Republican-desired levels.

The original Republican-passed spending bill did not change government funding levels; it served only to eliminate an existing law that they did not like, despite that law having been signed into law three years ago, surviving a Constitutional challenge and effectively surviving voter referendum when the President who championed it defeated a challenger who promised to repeal it.

Your argument is a lie and you are a liar for making it.

"You (Libtard Santa Claus and your free money give-away-world policies) sit on a throne of lies!"


You do your arguments a disservice using such idiotic pejoratives like "libtard". This is why no one takes your side seriously.
 
2013-10-14 12:02:17 PM  
Well, that's my ignore list nicely updated. Now what? Shall I catch up on my stories on Hulu?
 
2013-10-14 12:02:28 PM  

CleanAndPure: However for many people the majority of their debt is their fixed rate mortgage.

If we have 1000% inflation...I will still be paying 3% something interest.


"Leaving the banks full of worthless paper."  Which is why the rest of the world doesn't do fixed rate mortgages.

Unfortunately, ARM's have made a comeback since 2008, as has the practice of lenders trying to get people to take out mortgages they will not be able to pay off so they can sell the mortgages to someone else, and the practice of bundling up these odious debts into financial "products".  Maybe America doesn't deserve to ever come out of this recession.
 
2013-10-14 12:04:42 PM  

way south: The reality is both sides are self serving wenches that really don't care what happens so long as they "win".


THIS RIGHT HYAR. They're more concerned about how their statements and talking points will "poll" than with architecting a rational solution to this mess.

/Which, as I said elsewhere, sucks diarrheal ass.
 
2013-10-14 12:05:06 PM  
Misconduc:nice troll, fact is they are do-nothing leaches - I would know I have roughly 50 tenants and all are on Federal assistance. Less than 25% worked their entire life, most don't even have a high school education - they worked a dead end job and did not bother to save any kind of money and now given free handouts because they didn't bother to attend career day in high school.

I have at least 10 that didn't even finish high school or have a job in over 10 years, and these are in their 40s collecting foodstamps and other assistance. Sleep well knowing your hard earned money goes to someone who refuses to pick up a shovel and do some god honest work for a days pay, instead our lovely government just hands out assistance to those who simply need to go out and earn their keep.


Nice, except you forgot to tell us about your supermodel GF, your five advanced degrees, needing to get to the gym in 26 minutes, etc.
 
2013-10-14 12:06:13 PM  
In other news, has anyone signed up on healthcare.gov yet? Anybody?
 
2013-10-14 12:06:22 PM  

Clemkadidlefark: AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.

F and U

The Democrats are Hell demon spawn Satan uses to directly destroy Mankind through corruption, death, lies and every form of sin ever known, and they will take down the USA until we become trash heap dwellers like Manila without whimsey.

The Republican Party began as Progressives.

Try not to be a simpleton carrying the water for fools and men of no honor.


What is this?  Satire?

// Good job?
 
2013-10-14 12:06:35 PM  

flondrix: CleanAndPure: However for many people the majority of their debt is their fixed rate mortgage.

If we have 1000% inflation...I will still be paying 3% something interest.

"Leaving the banks full of worthless paper."  Which is why the rest of the world doesn't do fixed rate mortgages.

Unfortunately, ARM's have made a comeback since 2008, as has the practice of lenders trying to get people to take out mortgages they will not be able to pay off so they can sell the mortgages to someone else, and the practice of bundling up these odious debts into financial "products".  Maybe America doesn't deserve to ever come out of this recession.


I never understood why anyone would think an adjustable interest rate is a good idea. The rate goes up (and probably higher than is affordable) and you get hosed.
 
2013-10-14 12:08:18 PM  

The_Original_Roxtar: we haven't had a balanced budget since Clinton was in office. Also, listing all your stats as a percentage of GDP is a bit misleading.


Why?
 
2013-10-14 12:08:40 PM  

Clemkadidlefark: The Republican Party began as Progressives.


If you think Abe Lincoln and Teddy Roosevelt wouldn't take massive dumps on what passes for today's GOP, you don't know sh*t about history.
 
2013-10-14 12:09:06 PM  

The_Original_Roxtar: jst3p: The_Original_Roxtar: jst3p: The_Original_Roxtar: that's what happens when you pass a law without caring about where the money to pay for it comes from.
the money isn't there.

Which law are you referring to?

/please say Obamacare so that I can confirm my suspicion that you have no idea what you are talking about.

every spending/stimulus bill ever.

The deficit is shrinking.

[images.bwbx.io image 630x420]

We are spending less:

[moneymorning.com image 590x437]


The problem is being addressed, what is your problem with this?

we haven't had a balanced budget since Clinton was in office.

I

agree that we need to work to that goal, but if we get there too quickly it causes more problems than it solves. Cutting spending increases unemployment. Our recovery is pretty fragile and the sequester has already caused us to miss out on some of the economic growth we should have realized:
http://thinkprogress.org/economy/2013/06/14/2161921/imf-says-automat ic -austerity-is-wrecking-us-economic-growth/

In my opinion, Also the Go P knows this. The pretend to champion "fiscal responsibility" but what they really want is for the economy to falter so they can pin it on Obama.

Also, listing all your stats as a percentage of GDP is a bit misleading.

As a percentage of GDP is the only measure that matters. Any other way lacks context.

Have you ever taken a macroecon class?
 
Displayed 50 of 507 comments

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report