Treasury Dept. Moves to Avoid Debt Limit

Originally posted by deltaboy
The govt doesn't tell the American people what to buy either it be foreign or domestic. Its our choice.

No, they don't tell us what to buy but the government allowed big monopolies to inundate our markets with cheap goods to target the same people that has lost their jobs to outsourcing while working now in minimum pay jobs.

Does Wal-Mart ring a bell?

Now do you see the rich and wealthy buying in Wal-Mart?

they also have a little pull when it comes to the interest rate and such, and well, by having it so unusually low, all you are doing is encouraging people to spend more money than they have......what, that isn't enough, well, let's just overinflate the value of the houses and well, give them more borrowing power!!!

and, how many times over the past few years have you heard the powers that be paint a rosey picture of the economy, and encouraging people to buy, buy, buy!! don't let the terrorists win now, it's the american lifestyle, don't let them kill it!! we're americans and americans buy things, lots of things!! so, get out there and spend, spend, spend!!!

only I think they are at the end of their rope now, you can only manipulate the system for so long and well, then it seems you kind of trap yourself into a little box, you've burnt too many bridges, removed all your options. you can't fix this problem over here, without this little tidbit over here collasping, and you can fix that one, without disrupting another....

See US used to have the power to control the world markets, get into debt and still keep the economy flourishing.

But right now the debt is starting to affect our dollar something that we didn’t have to worry about before.

Right now other countries have so much money invested in the dollar denominated assets, that a slight diminishing of our dollar will bring pressure to those foreign holdings.

Like dawnstar said the interest rates has been kept low allowing us the American people to spend on the increasing amount of third country goods and increasing our debt.

But if any of the countries that have investments in our dollar change their hart or just lose interest in our debt our dollar will fall.

Something that even Green told and warned about, if a country like China decided to switch away from the dollar we will be in big trouble.

See America has something to bargain with that is not seen in any other countries economy, and that is our precious dollar, we are able to borrow on our own currency, but most of our assest are still in foreign currency more than half.

When the dollar goes down the debt is reduced. This is possible because Other countries that lend to the US do so in Dollars.

But as usual this will work as long as the debt is kept in control or as long as the countries involve are happy with our dollar.

Originally posted by deltaboy
You guys talk like Bush was responsible for this multitrillion dollar debt, when we have this debt ages ago, pretty much all the way back to the Civil war, after we had zero debt for awhile prior to the Civil War.

Deltaboy, when Clinton left office in 2000, he left us with the biggest financial surplus this country has ever had. Only Bush has been the president since then, and he's created the largest debt that the U.S. has ever seen. THe only way to read it is that it's Bush's fault. Story over.

-Forestlady

09/30/2000 5,674,178,209,886.86
09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
09/30/1997 5,413,146,011,397.34
09/30/1996 5,224,810,939,135.73
09/29/1995 4,973,982,900,709.39
09/30/1994 4,692,749,910,013.32
09/30/1993 4,411,488,883,139.38

Only cause the Cold War was over and the military was downsized. Able to save up the money from the defense industry and say we got ourselves a budget surplus. Now much of that surplus is gone over tax policy as well as for the war and security at home.


[edit on 10-3-2006 by deltaboy]

Those $300.00 Bush bribe checks that we all got when really gave the tax cuts to the rich several years ago might have something to do with this. How do we go from record surpluses to record deficits so quickly? Personally I think Republicans kind of do this spending spree, and then later down the road to get out of debt; programs they do not like get reduced. A kind of backdoor screw you. I'm not a Democrat either, but at least Clinton was fiscally responsible. I have to live within my means to survive, why can't the government do the same. Most of us are not rich I bet. Why do we support people in a party that cares more for big corporations then regular joes like us? Yes big corporations give us jobs, but small businesses do too.

Well they upped it, as if we thought they wouldn't...



So how long will the $9 trillion limit hold off another default. They say it was raised so we wouldn't default, but that's just semantics. If we passed the previous number, we are in default. Our government loves to change the laws so they can break them and say they didn't.

politics.abovetopsecret.com...

I ask how can young people be conservative!

But so many young people who are being shafted by the conservatives in power, how can they to be conservative? How do you plan to go to college? No more student loans, Bush cut those to fund Iraq War, no money from parents since Bush sent their jobs over seas and then gave the company a tax break. Minimum wage pay for it? Not if the conservatives have there way and cut it to 4$ an hour. Join the army? Can't be in college and dying in Iraq, or Iran, or Syria at the same time can you?

Young people wake up, you will be left ignorant, mutilated by a mine you stepped on in Iran, and penniless by conservatives!

Gee, we went from surplus, LARGEST EVER, to LARGEST DEFICIT EVER, as stated Bush has put us farther in debt then ALL OTHER PRESIDENTS COMBINED!!!!!!!!

Originally posted by DevinS
politics.abovetopsecret.com...

I ask how can young people be conservative!

But so many young people who are being shafted by the conservatives in power, how can they to be conservative? How do you plan to go to college? No more student loans, Bush cut those to fund Iraq War, no money from parents since Bush sent their jobs over seas and then gave the company a tax break. Minimum wage pay for it? Not if the conservatives have there way and cut it to 4$ an hour. Join the army? Can't be in college and dying in Iraq, or Iran, or Syria at the same time can you?

Young people wake up, you will be left ignorant, mutilated by a mine you stepped on in Iran, and penniless by conservatives!

Gee, we went from surplus, LARGEST EVER, to LARGEST DEFICIT EVER, as stated Bush has put us farther in debt then ALL OTHER PRESIDENTS COMBINED!!!!!!!!

I'm no Bushie but I do have to call you on that last statement. We've been in debt for a long time, since the civil war days. The debt was over $5.6 trillion when dubya took office. Check that out here. The debt still went up over $1.6 trillion while Clinton was in office, even with his surpluses in a strong economy. I agree shrub has done more damage than any other president, and Clinton did a great job overall, but saying Bush has added more than all passed presidents is grossly misleading. But he has till 2008, he may just go for the record.