Raising the Debt Ceiling

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At least Obama is trying to use the money for something actually constructive, such as stimulating the economy, and providing all Americans with a means of medical coverage. All Bush really did was squander our money on an unnecessary war, and pump cash into the hands of the plutocrats who he actually represented.

-Bill, otherwise known as Kraichgauer

Possible, but not the case here today.

Economies do fail for "natural" reasons, but the demise of the USA has knife wounds all over the corpse.

Going off the "gold standard" and going to fiat currency...certainly without an unchanging set legal standard of what a unit of currency was worth. This allowed vast amounts of currency to be pumped into the economy with nothing backing it. Fiat currencies inevitably fail when peoples' faith in the government backing it flounders.

Giving a private bank (largely owned by foreign families) control over monetary policy when the US Constitution deliberately put that power into Congress' hands to avoid what came before in England and other nations in Europe.

Shifting into a "debt driven economy" where our ability to have prosperity was accomplished by massive borrowing/spending on credit.

Embracing trade deals and passing regulations that encouraged companies to send work overseas to be done by cheap labor then easily import the cheaper-made goods into the USA for sale....knowing that these practices would put Americans out of work...and without jobs, consumers don't buy.

There has been an orchestrated plan to tear down the economic might of the USA pretty much since WWI. The ability of the USA to not go along with what globalist thinkers wanted because we had the money and resources to not play along meant only by taking down our strength would be subject ourselves to the globalist plan. Step by step, that is what has happened to us.

True, nations do falter from their own failings, but in this case, there are forces at work trying to make it come to pass.

'cause we all know that millionaires are the mean, median, and mode of the US population.... (/sarcasm)
http://www.economist.com/node/3518560?story_id=3518560
http://www.religiondispatches.org/blog/ ... _mobility/
http://www.americanprogress.org/issues/ ... 79981.html
http://www.eurekalert.org/pub_releases/ ... 100107.php
http://www.nathannewman.org/log/archives/002002.shtml
http://thinkprogress.org/yglesias/2010/ ... n-america/

The death of a thousand cuts and most were self inflicted.

ruveyn

Yikes....we're agreeing again.

One week to go. What do you all think of the speeches last night?

I'm getting too depressed listening to all this back and forth rhetoric. And I'm already getting anxious because that's all I'm hearing on the news, even though my common sense tells me cooler heads will prevail.
I tried turning off the news today - but I was back on CNN fifteen minutes later, because not knowing what's going on is somehow worse than knowing.

-Bill, otherwise known as Kraichgauer

That's not true.
http://www.theatlantic.com/politics/archive/2011/07/the-chart-that-should-accompany-all-discussions-of-the-debt-ceiling/242484/

The intellectual dishonesty of "economic conservatives" never ceases to amaze me. First, they treat a deficit in a deep recession just like a deficit in the bubble-led 2000s (when Bush was President) and fail to realize that a structural deficit HAS to be increased briefly to prop up aggregate demand.

And have you ever noticed that when times are good and there is a surplus "economic conservatives" decide it's time to give the rich tax breaks instead of being responsible and using the surplus to pay down the national debt and shore up entitlement programs the American people would prefer to keep.

I would like to see a single instance when giving tax breaks to the rich ever got the economy rolling, or when starving social programs was ever beneficial for anyone. And economic conservatives are supposed to be so much more financially responsible than the rest of us.

-Bill, otherwise known as Kraichgauer

I can't tell if I should actually be worried about this, or if it's just another political game. Part of me feels that of course they'll make a deal, but another part isn't so sure.
Also, I have been looking for a car. Now I feel like I have to hurry up and buy one in case the interest rates go through the roof.

[youtube]http://www.youtube.com/watch?v=_mfMG66LtVU[/youtube]

As a mater of fact, without the ability to run up a debt, we wouldn't have won the Civil War, as one of the factors in our victory over the Confederacy was that we were able to out spend them.
And yes, the right side did in fact win.

-Bill, otherwise known as Kraichgauer

I bet it will surprise you that I agree with you, just because you probably assume to know everything about me via stereotype.

You really should pay cash for your car if at all possible.

I for one am hoping that interest rates go up, since I am getting a paltry half a percent in a money market account.