henryclay
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Post by henryclay on Jul 27, 2011 17:12:55 GMT -5
Seems to me crunch time is getting close. I wonder how it's going with all the new applications for government assistance that are being submited this week. School loans and things like that. Somebody has set it out on paper, more or less, what will happen if the Democrats keep going the way they are headed. It's a big file, so give it time to load. www.bipartisanpolicy.org/sites/default/files/Debt%20Ceiling%20Analysis%20FINAL.pdf |
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Post by BeenThere...DoneThat... on Jul 27, 2011 17:19:17 GMT -5
...I say military gets paid first at 100%, SS checks get paid next at 99%, and so on... with Congress/POTUS/SCOTUS getting their paychecks last, at 10%...  |
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Angel!
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Post by Angel! on Jul 27, 2011 17:29:24 GMT -5
Iteresting, nice to be able to put some numbers to all this talk.
The thing that strikes me is - aren't a lot of these payments getting made to states & then states send out the funds? I thought foodstamps, WIC, unemployment, TANF, Medicaid, DOE, etc were all run at the state level even though much of the funding comes from the federal level. I wonder if these won't be the first to be skipped & it will be on the states to try to fund the differences until the debt ceiling is raised. Of course, there will a trickle down should the states not be able to cover the gap.
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verrip1
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Post by verrip1 on Jul 27, 2011 17:55:32 GMT -5
I'll say it again, arbitrarily delay all product and service vendor payouts. Make the net 30s get paid in 60 (that is, if the Federal government ever pays anything net 30), and the 60s paid in 120, etc. Possibly combine that with a short pay of about 50% and the rest in scrip if things go unresolved beyond October.
Allow maybe 5-7% of the total vendor dollars due to be defined as critical for on-time payment. What are the vendors going to do about it? Nuttin'.
That should free up enough cash to fully pay direct costs to individuals.
They could also cut back on the amount of tuition and other educational support - it seems to me that would simply result in lower class loads temporarily (for one semester).
This is just a temporary cash flow problem.
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djAdvocate
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Post by djAdvocate on Jul 27, 2011 18:07:12 GMT -5
...I say military gets paid first at 100%, SS checks get paid next at 99%, and so on... with Congress/POTUS/SCOTUS getting their paychecks last, at 10%... why should congress get paid at all? after all, this shit is 100% their fault. not a dollar gets spent without them. |
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reasonfreedom
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Post by reasonfreedom on Jul 27, 2011 18:29:23 GMT -5
...I say military gets paid first at 100%, SS checks get paid next at 99%, and so on... with Congress/POTUS/SCOTUS getting their paychecks last, at 10%... why should congress get paid at all? after all, this shit is 100% their fault. not a dollar gets spent without them. right on brotha right on. |
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Post by BeenThere...DoneThat... on Jul 27, 2011 18:46:51 GMT -5
...I picked 10% because if I stiff a waitress, she might think I'm stupid... if I leave her a paltry tip, she gets the message...
;D
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handyman2
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Post by handyman2 on Jul 27, 2011 19:55:22 GMT -5
Something just came to mind. If we default the interest rate we would pay goes up on bonds if I understand it correctly. Now Americans actually hold the largest portion of our national debt. So if the rate goes up who benefits the most? American investors or in simplier terms the bankers I would think. Hmmmm.
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verrip1
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Post by verrip1 on Jul 27, 2011 20:02:47 GMT -5
...I say military gets paid first at 100%, SS checks get paid next at 99%, and so on... with Congress/POTUS/SCOTUS getting their paychecks last, at 10%... why should congress get paid at all? after all, this shit is 100% their fault. not a dollar gets spent without them. Right idea, wrong target for retribution. Stop paying congressional staff immediately. It's the staffers who do all the work and set most of the specific policies of congressmen. This would be the effective 'starve the beast' approach. |
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deziloooooo
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Post by deziloooooo on Jul 27, 2011 20:17:31 GMT -5
Your forgetting too, immediatly or almost immediatly, not sure how it works with the rating services, we will very quickly have added say $150/200 Billion to the debt..just like that...wonder how much the Bush Tax cuts would have given us...  Just think , we actually pay these people lots of $ and benefits to make these decisions for us..unbeleivable..    ;D |
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djAdvocate
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only posting when the mood strikes me.
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Post by djAdvocate on Jul 27, 2011 20:59:59 GMT -5
Your forgetting too, immediatly or almost immediatly, not sure how it works with the rating services, we will very quickly have added say $150/200 Billion to the debt..just like that...wonder how much the Bush Tax cuts would have given us... Just think , we actually pay these people lots of $ and benefits to make these decisions for us..unbeleivable.. ;D or to sit around and play brinksmanship WITH OUR FUTURE, as the case may be!  |
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fairlycrazy23
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Post by fairlycrazy23 on Jul 27, 2011 23:37:30 GMT -5
Something just came to mind. If we default the interest rate we would pay goes up on bonds if I understand it correctly. Now Americans actually hold the largest portion of our national debt. So if the rate goes up who benefits the most? American investors or in simplier terms the bankers I would think. Hmmmm. I think it is misleading to say Americans hold the largest portion, most is owned by 'America' in the sense that the FED owns a bunch, and of course all the SS surplus was turned into the IOU's. |
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deziloooooo
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Post by deziloooooo on Jul 28, 2011 2:14:01 GMT -5
Listening to a investor banker, adviser or what ever , and while they , the ones in the field, are not hoping for a default..as she said, many feel we should be rated as a AA rating , not AAA...and if it went to AA, then the interest rate would possible go to 3.5 from the 3 % it is now and attrack a lot more people as buyers..
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Post by BeenThere...DoneThat... on Jul 28, 2011 2:16:38 GMT -5
Listening to a investor banker, adviser or what ever , and while they , the ones in the field, are not hoping for a default..as she said, many feel we should be rated as a AA rating , not AAA...and if it went to AA, then the interest rate would possible go to 3.5 from the 3 % it is now and attrack a lot more people as buyers.. ...well, would YOU buy a bond when it pays the higher yield? |
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jkapp
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Post by jkapp on Jul 28, 2011 9:47:31 GMT -5
Well, hell, just send out IOUs for everything! That's as good as paying...just ask California |
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;D