Who Will Not Get paid On Aug. 3rd ?

I just found an interesting article on Yahoo News that details who the Govt. owes, and how much, each month. It tries to prioritize for the Govt. who will most likely get paid first and why.

As we all know, without a debt ceiling increase not everyone will be able to get paid. According to the article, various bondholders will be paid first, including the Chinese. They go on to say that Social Security recipients will be paid because no one wants to see T.V. screens filled with angry seniors who have been cut off. What it doesn't say is that if all the defense projects are left unfunded, people will be screaming that the Chinese bondholders got theirs before our own troops did. Some people will insist that it has to be that way because if we cut off the bondholders, our credit rating will slip and that would be bad for business.

If you had to prioritize something like this, how would you go about it and why? Personally, I'd let the defense budget go, bring our troops home to protect our own borders and streamline our spending that way.

news.yahoo.com...

reply to post by Taupin Desciple


>>>>>They go on to say that Social Security recipients will be paid because no one wants to see T.V. screens filled with angry seniors who have been cut off.

The Piper!!! Thats later!

I have a few ideas on how we could decrease our debt, and increase our revenue. First, i think we need to abolish the fed. second, stop the nonsense wars. thirdly, i would legalize and regulate substances that are now illegal- this would decrease the amount of money we spend punishing these non-violent, victim less offenders, as well as increase the amount of money we get by taxing them like cigs.

also, i found this website, and do not know if it has been posted before, but it's certainly relevant to the topic. It's a website which has a real time updating layout of us debt/revenue and even breaks it down into smaller sections such as- social security, medicare and wars.

www.usdebtclock.org...

reply to post by Taupin Desciple


There's nothing to prioritize..

SS funds are not taxes and the money should have been in some sort of "saving account" collecting interest until it needs to be payed to the people eligable(sp?) to recieve SS.

Just another scam ran by the US govt. They've spent all SS funds on stuff it wasnt supposed to go to and now they can't pay the people who have been paying for it their entire working life.

reply to post by billb1215


You indeed sound like a voice of reason! I agree on every point!

bring the troops home first, before they turn around and tell us, and them they can't find the funding that is needed to do this and strands a bunch of our loved ones in hostile countries to fend for themselves!! by the way, the gov't would probably have one heck of a big headache if they did this once those people did make their way home!!

as to the rest, well, I kind of like the penny from every dollar approach, but while I am sure that they are thinking that we should be taking many pennies from some areas, while giving other areas even more pennies, I say let's do it literally, all the way down to the food stamps, and social security, your check will be a little lower, your food stamps, your payment on that defense contract a little lower, the amount we pay the doctor. have a chat with the bondholders that are OUTSIDE of the country, and well, see if they would accept it, just a penny off every dollar, and well, if not, pay them what is owed!!
those within the country, well, they all have a pretty big stake in this, if the US goes down, they ARE gonna fall along with it!! don't even give them a choice!! this is the way it's gonna be.... we should have stopped treating contracts as untouchable when the housing crap hit to begin with, then we wouldn't be having a lot of the problems we are having now..... make them open game, as long as priority it made to keep reason and fairness in play!! we don't care if your contract says you will be getting this amount, you are getting a penny less for every dollar!!!
no ones overly happy, no one's obliterated entirely!! it's fair!!! it's reasonable!!

They Need to Default ...
your F'd if ya do & your F'd if ya don't...
might as wipe it clean

Originally posted by Romekje
reply to post by Taupin Desciple

 

There's nothing to prioritize..

SS funds are not taxes and the money should have been in some sort of "saving account" collecting interest until it needs to be payed to the people eligable(sp?) to recieve SS.

Just another scam ran by the US govt. They've spent all SS funds on stuff it wasnt supposed to go to and now they can't pay the people who have been paying for it their entire working life.

Thing is SS has it's own account. And there is enough money there, to send out checks from what I understand. But the spenders in Washington see money just siting there, and they see Peter and Paul. You know how that one worked out.

reply to post by spoonbender

they have what they need to meet their monthly obligations coming in every month, they don't need to default!!
congress and the white house might have to park their jets and stay home, but oh, hillary would be so unhappy, wouldn't she, so wouldn't obama, so wouldn't congress!!
they might not be able to give some countries some aid that they've promised to give them, but what are we doing borrowing money to give to just give away anyways, and well, just how are those people we are trying to help gonna be affected if we collapse the whole danged world economy??
we might have to let a few too big to fails fall!! but welll, in my opinion, they deserve to fail!!
those who are recieving unemployment, or welfare might find themselves in a bind, but well, maybe family and friends, along with communities can step in and help pull them through....

my guess it that this big crisis is over having to tell hillary to park her private jet.....we all know what she did to bill when he made her so unhappy!!

Everything I've read says even if we were to raise the debt ceiling that its in the cards that our credit rating will be busted down which in turn will directly affect pretty much the whole of the country via personal loans, car loans, student loans and mortgages. So really we are already shafted, its just a matter of when the rating downgrade comes now. Add higher costs on existing debt with rising gas prices and a depreciating dollar and you have a nasty enough situation without a default.

You know just because we default and get thrown into a thirdworld status does not mean we have called international bankruptsy, we still owe! Everyone seems to think once we let the dollar go that we will be starting over from the begining . We will still owe it is just that our $ will no longer payoff what it once could.

reply to post by Helig


once the credit rating agencies decide to wipe you out, there is nothing that you can do to stop them, that's the game they are playing in europe, it won't stop till they have forcing our gov't to "privitize" everything, selling off our assets to the highest bidder, which won't be paying but pennies on the dollar for our highways, our parks, everything!!!
there's an answer to the problem I believe, but the gov't isn't the one who has to take the actions, it's we the people!! and no, I ain't saying we need to revolt!!!
start taking away the excuses that the gov't has for meddling so much in our economy!!!
find and develope other avenues for people wishing to start businesses that are independant of gov't!! same with education, train your workers, apprentice them again instead of relying on the gov't to back loans for the inflated cost of college!!
find a way to pay your employees more, hire that person you need, without the gov't tax credit being taken!!

make it possible for us to turn around to the gov't and tell them we don't need all this crap!!!
take back the responsibility for your share of the economy!!!

reply to post by Taupin Desciple


Defense???

that would be things like building Naval Fleets, even the DARPA contracts...i'm very certain that the Administration or else Congress who has control of spending & funding could immediately stop payments to and contracts for future weapons systems that are not being used for 'defense' but rather for Empire expansion in the ME, NA, CAsia...

Stop payments & contracts to defense contractors like GE (only one example) ...a corporation that excaped paying any taxes on profits & income because of loopholes & twisting accounting & offshoring revenue cache'....

I would like to see a review of ALL defense contractors to see if they are paying their 'fair share'...and revise the contracts & payments to suit the situation, etc

there's also the monies that are being spent on projects like microwave cannons to use on the gathered protesters of what ever cause De Jour

next off... release that $500 Billion set aside for Presidential Campaign matching funds...


The Øbama administration and Congress have connections to many expense issues that can be culled from the Red column on the Nations' balance sheet...
his (Øbama's) threatning to not pay SS retirees/disabled on the 3rd is a despots ranting threat...
if it were not for the $53Billion in revenues the SSA fund brings in each month ...this nation would be in a real crisis...

reply to post by antar


Naturally we would still owe our debts, but thanks to the global economy if we go down the tubes a lot of other people will go with us as they scramble to get themselves removed from the situation and completely dump the US Dollar. If everyone is broke, busted and badly bent by this kind of an event then I doubt many people will be on us to repay so much as they will be trying to right their own ship first.

First, no one in congress or other elected offices within the federal government would be paid. Why should they? Then I would tell the CIA to hand over all the drug money they are getting as that money is hidden and used to undermine other countries governments. Something that we should not be doing any way. Then lets look at the comprehensive financial reports. Those hidden books that our government does not tell us about. Those books show the profit that the government is making by placing our money into investments in the financial markets. Cut all the pork out of all legislation and drop funding for all those pet projects, stop paying vendors extremely inflated prices for goods and stop invading other countries, bring the boys/girls home. Line item veto power to President. Get rid of the Fed.

I mentioned this in another thread but thought it would be worth repeating. I am a veteran and veterans will be paid. How do I know this? Well my retirement was paid 2 days early. I shouldnt be paid till the first, but i have it deposited into my account.

I would believe social security would also be paid, as well as medicare/medicaid.

What needs to be stopped is foreign aid. I will try to look up and see what it totals each month. Rediculus we support other countries and not our own.

as you can see in the chart linked, if foreign aid was just cut in half we could save 105 billion dollars over the next 4 years. Compare this to raising the age of SS to 70 which would save 85 billion dollars over the next 4 years.

Cut foreign aid completely that should save 210 billion and keep the age of SS at 65 (it is insane to think the retirement age should be 70. Get the budgets underlined and keep care of our people, screw the others.




illinoisreview.typepad.com...

reply to post by madpole


they could give the seniors those unwanted presidential coins that they want to spend a million dollars on a new vault for.....that would take care of over a billion of the cost!!!

USS folk are being conned and screwed by those who own the Fed!!! Time to wake up America!