Revi wrote:The debt ceiling debate hasn't gone away. I guess Mnuchin is pushing for a "clean debt ceiling bill" before they leave for their August recess. They don't have much of a war chest, because they spent it on a stock market rally. I just hope they have enough to get us to around Sept/Oct before we get into trouble. The Freedom Caucus folks are fighting for some deficit reduction, the Dems are not thrilled with anything the Repubs are up to, but they still need at least 8 of them to go along and of course the rich are pushing for tax cuts. I don't see much hope for a "clean bill" that will push the debt ceiling up to over 25 trillion. We'll see, but it could get ugly.
http://www.politico.com/story/2017/06/0 ... ing-239267
Revi wrote:We started piling up debt around 1970, which we know is when we hit peak in the US. Since then we have been pumping around 10 million barrels per day and using 20. We have been fortunate because we have been able to put off the day of reckoning because everyone wants our IOU's. We have been living far outside of our budget for so long that we have forgotten how to live within it. The Chinese use about the same amount we use just for driving around (11 million barrels per day) for everything, including manufacturing. Our government budget has been growing all this time, and we are up to borrowing around an extra trillion per year lately. I think they should pass the debt ceiling waiver and raise it again. We are living on borrowed money. We'll have a day of reckoning soon enough. Keep it going for a little while longer. There's no fixing any of it.
Revi wrote:We started piling up debt around 1970, which we know is when we hit peak in the US.
pstarr wrote:Crazy
pstarr wrote:It's like when you blame the Great Recession on bad mortgages
asg70 wrote:pstarr wrote:It's like when you blame the Great Recession on bad mortgages
That kind of mockery works about as well as "It's like when you tell me the earth is round and we went to the moon!" It just makes you sound incredibly ignorant.
Plantagenet wrote:Trump and the Ds have agreed to work towards repeal of the debt ceiling.
Its all part of Trump's secret plan to surpass Obama's 10 trillion in new debt.
The price was something like $5.25 a gallon, maybe pushing $5.65 (it's hard to remember), and Cheyenne was the cheapest place to buy gas for maybe a thousand miles in any direction.
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