American politics has become so damn boring that it is too silly for words…..but that may soon change….
It is now September and the Congress returns to what they call work…..and they are faced with several options for failure….deficit…..taxation….budgetary debate….none of these will bode well for the GOP….they do not have a reliable partner in the White House….
President Trump’s public comments this week have made one thing crystal clear: September is going to be a very big month for the US. Congress faces a Sept. 30 deadline to pass a funding deal to avoid a shutdown, and Trump has thrown a wrench into things by demanding serious money for a border wall. But in a deadline with more serious consequences, Congress also must raise the debt ceiling around the end of September or the US could default on its debt, reports the Wall Street Journal. The issues are separate, but they’re likely to get lumped together, and not much goodwill is circulating at the moment. In addition to his shutdown threat, Trump on Thursday blamed Paul Ryan and Mitch McConnell for the debt ceiling “mess.” Related coverage:
- Chances of a shutdown: Flip a coin. A Goldman Sachs advisory to investors puts the odds at 50-50, but Axios has a GOP source who thinks there’s a 75% chance of a shutdown: “The peculiar part is that almost everyone I talk to on the Hill agrees that it is more likely than not.”
- Better odds on debt ceiling: “We’re going to get the debt ceiling passed,” said Treasury chief Steven Mnuchin this week, per Bloomberg. (He wants a “clean” increase with no strings attached.) At the same event in Kentucky, McConnell said there is “zero chance—no chance—we won’t raise the debt ceiling. No chance.”
- Unless: Yes, the budget and the debt ceiling are separate, but because the deadlines are so close together, they could become “entangled” in negotiations, per the New York Times. For example, Bloomberg notes that House conservatives are demanding big spending cuts in return for lifting the ceiling.
- Consequences: If the ceiling isn’t raised and the US defaults on its debt, it would rock financial markets around the world, explains NBC News. Also, ratings agencies could downgrade the US. At the Wall Street Journal, James Mackintosh writes that he finds “it hard to believe that the US will default,” but he explains that the mere possibility is already making investors nervous.
- How we got here: The Washington Post notes that, in 2015, President Obama and Congress agreed to suspend the debt ceiling decision until March of this year, and emergency measures have extended it since then. But Mnuchin runs out of tricks next month. The story also points out the contrast in Trump’s tweet about the “mess” and Mnuchin’s public attempt to ease fears and notes that Trump has mocked Congress for raising the ceiling in his pre-presidential days.
In all this drama the country shutdown looms…..
You want humor….then these debates will be the best place to go for a good chuckle…..
How many times have you heard a nose picking, ass scratcher go on and on about those freeloaders (the poor) that are wasting government money? Or that have string opinions about wasting money on unpopular programs like school lunches or pollution control or other such programs?
But does any of that add up to $8.5 trillion (that is trillion with a “T”)?
$8.5 trillion is the amount of cash that the Defense Department has somehow misplaced……(wink wink)
When government is completely dysfunctional and seems not to serve the people’s interests, we have to wonder where our tax dollars are going. Thanks to a Reuters investigation by Scot Paltrow, we have an answer—or, rather, a non-answer. Apparently, the Pentagon has made use of $8.5 trillion of our tax money handed over by Congress since 1996—but don’t ask what was done with the money. The Department of Defense doesn’t have a clue.
Audits of all federal agencies were mandated by law beginning in 1996, but the Pentagon is unique in never having complied. In almost 20 years, the Pentagon has never accounted for trillions it spent, in part because “plugging”—fudging the numbers—is standard operating procedure.
And they worried about the price of a school lunch…..typical ignorant toads.
Think about this….if we add the money that is missing with the amount we have wasted on our wars of adventurism then we would not have a budget deficit…..see how easy economics is once you remove your head from your ass?
I know I said that I would let the “Brexit” thing go for now…..but I read an article that made a lot of sense……..at least to me…..
As long as everyone is running for an exit….why not the US?
The US is up to its butt in military alliances and as usual we are funding most of them……maybe it is time to re-think all this involvement and let others handle their own problems….just I thought….
With populism running wild in Europe and in the United States – the Brexit and American presidential candidate Donald Trump questioning U.S. alliances being just two obvious examples – suddenly people are asking the big questions about the future of Western institutions that should have been asked after the Cold War ended. Both the Brexit […]
Source: How About an Amerexit from NATO and Other One-Sided Military Alliances? – Antiwar.com Original by — Antiwar.com
This would go a long way in doing what most GOPers are always whining about…..lower the budget deficit….maybe even help balance the damn thing….
Can I get an Amen?
We all know what some people think about Obama and the Dems….they are all about spending cash….they are Big Spenders….Am I right?
We also know, why because we are beat about the head with it everyday, that the deficit is the highest it has been in centuries….am I right?
I know that the big spender tag and the so-called growing deficit are great campaign slogans and bumper stickers…….but the next time you hear such drivel ask one simple question……
If the prez is such a spender, how can we explain this turn of the screw?
The federal budget deficit for fiscal 2013 has plunged by more than $400 billion, the biggest drop since the end of World War II, the Treasury Department says. It comes in at $680 billion—not exactly pocket change, but a lot better than the trillion-plus deficits of the last five years. The deficit is now at its smallest level since 2008, and while growing tax revenues from the healthier economy account for most of the drops, budget cuts and tax rises also helped, the New York Times reports. Revenue jumped by $324 billion to $2.8 trillion, the Treasury says, while government spending edged up to $3.9 trillion from $3.8 trillion. “Thanks to the tenacity of the American people and the determination of the private sector we are moving in the right direction,” says Treasury Secretary Jacob Lew. “The United States has recovered faster than any other advanced economy, and our deficit today is less than half of what it was when President Obama first took office.” The Senate Budget Committee says the outlook for future deficit reduction is good, with an estimated reduction of $3.3 trillion over the next decade because of the cuts and tax rises that came from the fiscal-cliff battles, the Washington Post finds.
I realize the truth hurts….but sometime in history one must let go of BS and return to reality…..but how long will it shrink if we keep giving away billions every time there is a situation that we get nervous about…….throw money at it and it will go away…..just like the surplus we had back in the day……our politicians will find a way to solve that problem…..
While I was otherwise distracted with gathering my wits for the legal battle I had yesterday……there was a story blowing in the wind…….
Sounds like a heavy sigh to me…….after many months of speculation on the approaching debt limit….there were all too many opinions on how it would play out……and Tuesday it played out in a way that few could have foreseen…….
House Republicans backed away from a battle over the government’s debt cap today and permitted Democrats to drive quick passage of a measure to increase the government’s borrowing cap without any concessions from the White House. The 221-201 vote came hours after Speaker John Boehner announced that his fractured party would relent and not seek to add other items to the must-pass legislation. Twenty-eight Republicans voted yes. The bill would permit Treasury to borrow normally for another 13 months; the Senate is expected to pass it tomorrow.
Here’s a look at how it’s being played:
- New York Times: “It effectively ended a three-year, Tea Party-fueled era when a series of budget showdowns raised the threat of debt defaults and government shutdowns, rattled economic confidence and brought serious scrutiny from an international community questioning Washington’s ability to govern.”
- Wall Street Journal: It’s “a tactical retreat by Republicans stymied by their internal divisions.”
- The Hill: “Boehner’s decision drew heavy criticism from conservative groups, many of whom said Boehner needs to be replaced. Many noted that the so-called ‘Boehner rule’ now appears dead—that was the informal name for Boehner’s effort to extract spending cuts in exchange for debt ceiling hikes.”
- Politico: “It’s also a clear sign of the House Republican Conference’s inability to move beyond fiscal fights and lays in plain view the leadership’s inability—or unwillingness—to corral votes for their priorities.”
Step back and think about what happened Tuesday……could this be a dawn of a new day in DC? Or was this just a momentary lull…..time to decide on the next fight to pursue?
John Boehner ended the debt ceiling wars, but his fellow Republicans didn’t exactly throw him a parade. The Washington Post today has an excruciatingly awkward account of how Boehner broke the news to his caucus at a private breakfast yesterday morning. “Listen—we’re going to move forward,” he said, standing before a room of drowsy Republicans. “We’re going to get this done.” He said he wouldn’t even consider floating another proposal—he had made up his mind to go with a clean bill. The Republicans sat up, stunned, and silently stared at him. No one booed. No one cheered. Boehner stood waiting for any reaction at all, then finally shook his head and walked to his seat. “I’m getting this monkey off your back, and you’re not going to even clap?” he said as he went, after which one House veteran says there was “how do I say it, a polite golf clap.” Meanwhile, at a private lunch yesterday, Senate Republican leaders were urging their members to drop any filibuster attempts and let a vote take place today, Politico reports. One GOP senator said that most at the lunch were more concerned about “getting the hell out of town” before the coming snowstorm arrived. The response from the right has mostly been muted. The Wall Street Journal today ran an editorial urging Republicans to repeal the debt ceiling entirely and “finally end this periodic self-torture.”
I spend an inordinate amount of time reading news from…well just about everywhere.
I read this one and thought I would pass it on…..amazing info but I am still a bit skeptical…..a pretty good piece nonetheless….
How cutting government spending can increase the deficit – The Week.
Of course the usual talking points will be in full bloom this year…after all in is an election year….and of course the opposition will keep harping on the deficit and how out of control it is and how if they are elected all will somehow to alright….
But did you know……of course you didn’t because it is not something that they want you to know…kinda craps on their BS……
Why don’t Americans realize the deficit is falling? – The Week.