The National Debt Ceiling Will Be Reached On September 19, 2012

Originally posted by LittleBlackEagle
i wonder if they figured in the fact that only 58% of working age Americans are working, or what that debt ceiling will look like when the dollar is no longer the world currency reserve. the absolute only thing that makes any sense, is that we are being led down a road to disintegrate America, dollar by dollar, for what reason i do not know.

We still have a path for prosperity.

We just need to push a capitalist in the front door of the White House.

With the right leader it shouldn't be too hard to increase the GDP to $25 Trillion

and at the same time reduce the national debt to $12 Trillion.

We can get there from here.

The national debt consists of Government pensions and union benefits and programs Social Security,Medicaid,Medicare never fear they will just raise taxes on millionaires and billionaires and increase their spending agian.

Nothing to see here folks just a typical day in Washington spending money without a thought to where it comes from.

Exactly.
If there were a Republican in the White House then none of the evil Unions or social programs would exist, the budget would always be magically balanced even though the country is in a constant state of war and life would be utopian, right?


Posted Via ATS Mobile: m.abovetopsecret.com

Originally posted by Eurisko2012

Originally posted by LittleBlackEagle
i wonder if they figured in the fact that only 58% of working age Americans are working, or what that debt ceiling will look like when the dollar is no longer the world currency reserve. the absolute only thing that makes any sense, is that we are being led down a road to disintegrate America, dollar by dollar, for what reason i do not know.

We still have a path for prosperity.

We just need to push a capitalist in the front door of the White House.

With the right leader it shouldn't be too hard to increase the GDP to $25 Trillion

and at the same time reduce the national debt to $12 Trillion.

We can get there from here.

we do indeed, but it will take far more than replacing one bad apple. it will probably take a real collapse in our economy, more people starving and taxes going through the roof before enough people will do anything about it though.

Originally posted by LittleBlackEagle

Originally posted by Eurisko2012

Originally posted by LittleBlackEagle
i wonder if they figured in the fact that only 58% of working age Americans are working, or what that debt ceiling will look like when the dollar is no longer the world currency reserve. the absolute only thing that makes any sense, is that we are being led down a road to disintegrate America, dollar by dollar, for what reason i do not know.

We still have a path for prosperity.

We just need to push a capitalist in the front door of the White House.

With the right leader it shouldn't be too hard to increase the GDP to $25 Trillion

and at the same time reduce the national debt to $12 Trillion.

We can get there from here.

we do indeed, but it will take far more than replacing one bad apple. it will probably take a real collapse in our economy, more people starving and taxes going through the roof before enough people will do anything about it though.

We just need Free Market Capitalism to grow our way out of this mess.

At the same time we need to reduce the size of the US Government.

Defund and fire everybody at the EPA.

-----
To grow the economy we just need something new.

The last something new to arrive was the World Wide Web.

yes we need something new, honest legislators and law enforcement officials across the board, not paid for by corporate greed. no small task but we will get there through might or magic.

Originally posted by AnonymousCitizen

Originally posted by Indigo5

The OP says "On Sept. 19th"...The Treasury Secretery said...AFTER Sept. 30th and BEFORE 2013
U.S. expected to hit debt ceiling before 2013, Geithner says

Guessing when the country will hit the debt limit is an imprecise art. In addition, Congress has given the Treasury secretary a series of measures, such as using money in a special currency fund and postponing payments to civil pensions, to buy time if needed.

Mr. Treasury Secretary is a habitual liar, incompetent, or most likely, both.

A lame...cop-out answer.

By the way...the underlined text above was not from the Treasury Secretary, but the author and the vast majority of folks that make thier living predicting such matters agree with the sentiment....so given a choice between the claims of "Anonymous" on ATS or the entirety of the financial industry as to the precision of when the debt ceiling will be reached, I tend to believe those folks that make thier living actually predicting such things.

Saying the ceiling will be hit on September 19th....it is silly and anyone in finance will tell you the same.

No offense.....

reply to post by Indigo5

Originally posted by AnonymousCitizen

I disagree the the U.S. is recovering economically. Maybe we're not a bad off as the E.U. yet, but it's an argument over who is on fire the most. We are no longer headed toward the cliff, we have driven right off it. While the official unemployment rate shows about a 2% improvement, it's only because so many folks have been permanently removed from the labor statistics. The "employment" rate remains flat for the past couple years.

I hear this argument often and it is 75% BS. What they don't explain when they shout about and spin those that have "ceased" looking for work, is that it is always happening. People leave the workforce each year ...to retire, or they cut back and the spouse works...or both spouses were looking for work after one lost thier job...and one finds a job and the other ceases to look for work and stays at home. The biggest factor though is retirement, taking early pensions in a down economy etc. Start to slice those numbers out and the whole "people have given up" argument doesn't hold water.

Look at past years and what percentage of the workforce ceases working or looking for work volountarily. Common sense is that the vast majority of people don't stop looking for work unless they actually CAN stop looking for work.

We need to look at the fact that many who have "ceased" looking for jobs actually are but go un-counted.

Of course some have other income like rent or investments along with temporary relief like unemployment, food stamps, etc.

However, there Are many who have lost high paying jobs.

They can't replace a $50,000 a year job with government assistance, it's not enough.

The jobs simply are Not available.

Many employers are looking for one or two hires, and typically get hundreds of applications.

When the unemployment runs out, people are taken off the books so to speak.

The reports of "ceased looking" are not as accurate as some think it is.

Many people applying for jobs get turned down because they are classified as "over qualified" or are turned down because of the dreaded "employment gap" hysteria, and "credit rating too low", and many employers simply hire as soon as possible and never "process" all applications.

reply to post by Indigo5


The September 19, 2012 was calculated based upon the National Debt Clock. I took the amount of the National Debt on 1-11-12 ($15.220 Trillion) and subtracted the National Debt on 4-9-12 ($15.637 Trillion) which is $417 Billion. Divide that by 89 days and you have an average of $4.68 Billion/day. The National Debt Ceiling is $16.394 Trillion. Subtract $15.637 Trillion from $16.394 Trillion and you have $757 Billion. Divide $757 Billion by $4.68 Billion and you have 162 days. When you add 162 days to the 4-9-12 date, you end up with the September 19, 2012 date.

It's just simple math......something the current administration can't handle. It can be precise. On the last National Debt Ceiling crisis, I missed the date by only 2 days.

Originally posted by delrio256
reply to post by Indigo5

 

It's just simple math......something the current administration can't handle. It can be precise. On the last National Debt Ceiling crisis, I missed the date by only 2 days.

Please don't take this personaly...but that statement is false. It is not precise. Financial analysts and economists acroos the country of both political leanings will tell you the same as well as past administrations both Republican and Democrat.

It is hard to assign your post credibility when it seems to be premised on idealogy.

I would also suggest the very fact that it is an election year makes predicting the date even more difficult as both Congress and the Treasury has several mechanisms by which to delay the debt ceiling being hit prior to elections.

This is objective truth as known by folks on both sides of the political spectrum...and this adminstration is no more or less adept at math than any other administration.

When folks insert idealogical agenda into mathematical or financial calculations, it becomes a very specific form of dishonesty.



Analysts from the Bipartisan Policy Center projected that the United States will hit its $16.4 trillion debt ceiling between late November 2012 and early January 2013
www.politico.com...

Republican Sen. Rob Portman of Ohio, a former director of the Office of Management and Budget, predicts the debt ceiling will be hit in mid-October unless the administration reins in spending or the Treasury Department uses those measures.
www.nationaljournal.com...

But in opposition to the Bipartisan Policy Center's research or the Republican former Director of Management and Budget...you are certain it will be September 19th? BS is exhausting...if only those folks had gone to debtclock.com!!

With the elections every measure neccessary will likely be employed to delay the cieling being hit.

And you seem to forget the most obvious and glaring fact that the debt is dependant on revenues, which means it will shift dependant on the success of the economy this year. But you have calculated those factors down tot he day as well? Toss in measures and mechanisms available tot he treasury and congress have available tot hem and your claim of "September 19th" is silly and absurd.

Originally posted by delrio256
reply to post by Indigo5

 

The September 19, 2012 was calculated based upon the National Debt Clock. I took the amount of the National Debt on 1-11-12 ($15.220 Trillion) and subtracted the National Debt on 4-9-12 ($15.637 Trillion) which is $417 Billion. Divide that by 89 days and you have an average of $4.68 Billion/day. The National Debt Ceiling is $16.394 Trillion. Subtract $15.637 Trillion from $16.394 Trillion and you have $757 Billion. Divide $757 Billion by $4.68 Billion and you have 162 days. When you add 162 days to the 4-9-12 date, you end up with the September 19, 2012 date.

It's just simple math......something the current administration can't handle. It can be precise. On the last National Debt Ceiling crisis, I missed the date by only 2 days.

The White House will drag in Bill Clinton to cut a deal if it's necessary.

It has been done before. Remember?

Free markets never work, they only lead to big corporations.

We need a regulated free market to prevent the corporations from getting too much power and we need it to protect the consumer.

In a totally free market there is no protection for a consumer.

reply to post by Indigo5


Just remember the date: September 19, 2012

Originally posted by delrio256
reply to post by Indigo5

 

Just remember the date: September 19, 2012

Turbo Tax Cheat Timmy Geithner could move some money around and buy some time

for the White House.

Originally posted by EvilSadamClone
Free markets never work, they only lead to big corporations.

We need a regulated free market to prevent the corporations from getting too much power and we need it to protect the consumer.

In a totally free market there is no protection for a consumer.

Free Markets always work.

That's why the USA is the most powerful and prosperous nation on Earth.

reply to post by Eurisko2012


"Turbo Tax Cheat Timmy Geithner could move some money around and buy some time

for the White House."


That is true. My prediction does not take into account any White House intervention.

Originally posted by delrio256
reply to post by Eurisko2012

 

"Turbo Tax Cheat Timmy Geithner could move some money around and buy some time

for the White House."


That is true. My prediction does not take into account any White House intervention.

This will be a VERY nervous year for the White House and the Federal Reserve.

The big lie this year is ---- There is no inflation ----.

There really is inflation but if they admit it then.......the genie is out of the bottle and

they will have to raise interest rates. Nobody wants to do that.

We are sitting on a $16 Trillion debt bomb that is just waiting to go off !

That's why the USA is the most powerful and prosperous nation on Earth.
Eurisko

Can I ask what you mean by this? Not trying to be clever or anything, but interested to know what defines "powerful and prosperous"

This link is the 2011 list of most prosperous nations according to the source:
www.prosperity.com...

This link is quite interesting, if you rank happiness above power and prosperity; (I think it is most recent)
www.forbes.com...

Indeed, the USA does come out on top of this one, (I hate tables, not even sure why I am posting), but you get the idea.
europeangeostrategy.ideasoneurope.eu...

Would be interested to hear peoples opinions, I live in Ireland and was astonished at where it sat (pleasantly so)