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Post by maui1 on Jul 13, 2011 10:20:52 GMT -5
question of size..............
10 billion to greece............this can be done by a lot of world entities
60 trillion to the usa..........not even remotely possible
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floridayankee
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Post by floridayankee on Jul 13, 2011 10:21:56 GMT -5
Our national debt should have been "really" addressed long ago. I won't even say that it has ever been address except for a few political times. (Political times would be when long term solutions are adopted that no one ever expects to follow. It's just a projected solution that they can sell to the stupid masses). Both parties are responsible for this. I'd like to see a budget based in part on the prior year's revenues. You brought in $1.5 trillion last year, that is the cap for this year's budget. If you spend the $1.5T and revenue comes in at $1.4 T, your cap for next year is $1.3T (actual $1.4 revenue less the $0.1T you overspent the prior year). I know I'm way oversimplified here.....
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floridayankee
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Post by floridayankee on Jul 13, 2011 10:24:53 GMT -5
Greece is tied to the euro and cannot print their own money. the eu is printing plenty of its own paper, to keep greece afloat.........just like we are to keep calif (and a lot others) afloat Like I said...Greece has no more control over the printing of money than CA has over our fed printing presses. The flow could stop at any time.
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Driftr
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Post by Driftr on Jul 13, 2011 10:36:05 GMT -5
I too realize that this suggestion is an over-simplification, but I still like the idea of eliminating the debt ceiling and writing into law that we will not spend more than 95% of the prior years expenditures for the next 40 years. Heck, you could even say 97%. Say 3 trillion in spending this year, but in the 40th year we're spending under a trillion. Let's get compounding working for us rather than against us.
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Post by maui1 on Jul 13, 2011 11:44:34 GMT -5
Like I said...Greece has no more control over the printing of money than CA has over our fed printing presses. The flow could stop at any time.
we will let calif fail just like the eu will let greece fail..........i have some cheap land in so florida for sale....interested?
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floridayankee
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Post by floridayankee on Jul 13, 2011 12:25:07 GMT -5
we will let calif fail just like the eu will let greece fail..........i have some cheap land in so florida for sale....interested? Our government isn't smart enough to demand austerity measures as a condition for a bailout like the EU did for Greece. I believe the EU has balls enough to let a small portion to fail rather than letting them drag the whole union into the toilet with them.
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Post by maui1 on Jul 13, 2011 12:47:06 GMT -5
Our government isn't smart enough to demand austerity measures as a condition for a bailout like the EU did for Greece. I believe the EU has balls enough to let a small portion to fail rather than letting them drag the whole union into the toilet with them.
fl- why do you think greece is an issue again after the 1st bailout terms last year? and if the eu has balls, why did they redo the bailout package again, and will again, if need be.
talk is different than action.......and no gov't will take action, because that action is action against itself.
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Post by maui1 on Jul 13, 2011 12:55:34 GMT -5
my question(s) is/are........
we have been dealing with this debt limit issue for 100 years now, and have raised it 100 times since then. many people over time must have thought having a debt limit had value, as it has continued to be violated over and over again, without it going away.
when does the debt limit become important? at 105th increase? 110? 16 trillion debt? 24 trillion? 28% of gdp? 35% of gdp?
why do we have to wait until we are in an emergency to act on this issue?
if the debt limit is a 'non-issue', lets declare it as such, and lets do away with it, so we don't spend so much energy on something that really has no importance.
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Post by jkapp on Jul 13, 2011 12:57:15 GMT -5
according to a Professor who was just on NPR who did a study with another Professor on the event. The default was a similar impasse event as of now, only affected about $120 million in Treasury bills before the problem was solved, peanuts compared to the debt..however, we owed about $800 Billion then, and at a increase of 6/10 % that amounted to a penalty of about $8 Billion. When he was asked how long that increase as a penalty lasted, he said they carried it out for about six months , the study, after the event, and the increase, 6/10% was still in effect when they stopped their study, the time line.. Just a little reality of what could happen and we owe what, $14 trillion , and some want to play Russian Roulette with this possible deflating on our debt because they want to hold to their principals? So we need to raise our debt so our debt doesn't increase? Yeah there's some strong political logic going on there...
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Post by maui1 on Jul 13, 2011 13:01:33 GMT -5
yep........
raise the debt limit 2 trillion this year with a promise (that can't be enforced, btw) that we will reduce spending 4 trillion over the next ten years.
almost the same thing that has been said 100 time prior over the last 100 years...........WHEN WE WE LEARN?
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Post by maui1 on Jul 13, 2011 13:05:42 GMT -5
i heard the other day, this statement that seemed to sum up this issue very nicely......
"it will never be easier to deal with this issue today, than it will be tomorrow", as has been the wrongful thinking these last 100 years.
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jkapp
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Post by jkapp on Jul 13, 2011 13:20:20 GMT -5
yep........ raise the debt limit 2 trillion this year with a promise (that can't be enforced, btw) that we will reduce spending 4 trillion over the next ten years. almost the same thing that has been said 100 time prior over the last 100 years...........WHEN WE WE LEARN? Especially since the government just "agreed" to a $38 billion cut a few months ago, and it turned into a mere $352 million. Yet we are supposed to trust this $4 trillion number? Yeah...okay!
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Post by maui1 on Jul 13, 2011 13:42:04 GMT -5
i bring this up often........but this issue really does point to the need for term limits.
if our politicians, were not thinking of themselves, they would be doing what is right for the country.
without term limits, the 1st concern our politicians have is....."what will this action i take, do for my re-election efforts", and we all know, that gov't lives with money, and dies without it.
this is the reason we are here, at this point, year after year, playing games, to keep the public off balance, so our politicians can continue with the status quo.
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Post by djAdvocate on Jul 13, 2011 15:03:05 GMT -5
Like I said...Greece has no more control over the printing of money than CA has over our fed printing presses. The flow could stop at any time.we will let calif fail just like the eu will let greece fail..........i have some cheap land in so florida for sale....interested? california is not going to fail, maui. get real.
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Post by maui1 on Jul 13, 2011 15:08:36 GMT -5
djl- you missed it.........that was my statement.....calif will not fail, because our gov't will not let them fail, just like the eu will not let greece fail.
i will try and be more direct, so you have a better chance of understanding.......sorry
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Post by djAdvocate on Jul 13, 2011 15:13:22 GMT -5
djl- you missed it.........that was my statement.....calif will not fail, because our gov't will not let them fail, just like the eu will not let greece fail. i will try and be more direct, so you have a better chance of understanding.......sorry if it will be accompanied with similar condescension, you can just carry on in your usual style. wouldn't want to trouble you, your highness.
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Post by maui1 on Jul 13, 2011 15:20:21 GMT -5
djl- you need to go back and read some of your posts..........condescening......you are the definition of such.
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Post by djAdvocate on Jul 13, 2011 15:46:58 GMT -5
djl- you need to go back a read some of your posts..........condescening......you are the definition of such. i haven't made a whole lot of comments on this thread, but i can assure you, i don't think any more of myself than the least member of this board. perhaps your mistake was expecting me to see past your sarcasm, which is something i have a lot of trouble doing, for the record. i tend to take posts at face value. i don't know the first thing about you, maui. you might be a certified genius, or a complete imbicile, and the truth is i don't really care. i only care about what you post. that is all i have to deal with. and i will take each post as a separate comment from an unknown person. i do make an exception, however. when a poster gives me shit, i give it right back. that is also a fault, but not one i will apologize for.
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Post by djAdvocate on Jul 13, 2011 15:57:28 GMT -5
PS- we already have term limits. they are called ELECTIONS.
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Post by maui1 on Jul 14, 2011 9:13:36 GMT -5
PS- we already have term limits. they are called ELECTIONS.
SO THERE!
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