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it's fuunny that the governemt selctivly follows laws, They ignore the constitutiion but adhear to the debt limit.
Laws,like taxes, are for the little people. And no I don't mean midgets.
I can barely read what I am typing. Wish I could change the font size.
Understand your pain, but try holding the control button and pressing the "+" key to make it more legible.
How will the fed keep yeilds down when the enormous ammount of new issuance hits the market later in August?
Subtract, $30,000 from that total as I just put in my redemption for all my cash to come back to my bank. I don't trust Geithner one bit....
Treasury can stop paying for ongoing programs and pay the interest out of income.
bbbut...that means our soldiers will be left without the tools they need to defend us from the terrists who hate all of our freedoms
Are there no more pension funds to rob?
Why not confiscate checking accounts that haven't been touched for 6 month by private people? If they don't touch it, they don't need it right?
Why not stop with paying government wages?
Why not SELL US property on the Cheap to JPM?
Why not print money and don't tell anybody?
Use the Army to go door to door and ask 1000$ from every citizens? Those who can't pay can work it off in the saltmines.
I just came up with all those sollutions IN 2 MINUTES!!
THAT GUY HAD YEARS!!
That's it... he's fired... he can clean up his desk.
When it defaults the government will have fired itself. ====> Table stakes Bitchez !
WOW! This means the drama can continue for another 2 weeks as kick the can down the road a little farther. Then Obama declares an emergency and martial law and does whatever the hell he wants anyhow.
@ Robert - I think it is more global markets forcing the US to adhere to the debt ceiling. The US gov't would love to ignore it at this point, but the ratings agencies (and all US debt holders) are watching, so they cannot.
Just my $0.02.
It's called "dough" 'cause you can throw it up in the air and stretch it oooooooout.
Can you imagine going back 25 years to Paul Volker and James Baker and positing: "The Treasury is going to open one month with $55 Billion in cash, over two weeks add $375 Billion in deposits and then find itself $16 Billion in the red.. What do you do?"
Here's what my cash flow looked like in 1981*
Opening Cash Deposits Withdrawals Closing Cash
8/1 85.00 180.00 25.00 240.00
8/8 240.00 180.00 25.00 395.00
8/15 395.00 180.00 40.00 535.00
8/22 535.00 180.00 110.00 605.00
8/29 605.00 180.00 560.00 225.00
* Not thousands, millions, billions or trillions.
August was GREAT, it had an extra week. I saved $1.20/day by walking instead of taking the bus. I found every happy hour bar that had buffet food (dinner), buying only one qualifying beer. Learned to avoid South Street after work because those bond traders weren't only drunk, they were crazy. A zero debt limit start served me well and set in motion a debt-free life, which affords me more freedom than most people I know.
560 in fixed cost expenses! I hope you're still in that apartment and that it's now rent control!
These amounts are absolutely staggering
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