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Old 01-05-2013, 10:56 PM   #576
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Originally Posted by Marvolo View Post
Im not even sure the majority of the public knows who Boehner is and what he does. The tv media never reports this stuff. So the public just want to lump all the blame for everything on Obama and Boehner gets a free pass. All parties are royally ****ing up, and all parties should get their share of the blame.
Oh yeah they do.....you mention his name to my 11 year old students and many will say......oh yeah, that old tan dude in the House.....he cries alot.

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Old 01-05-2013, 10:58 PM   #577
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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This is his "I don't give a damn what you think" term. This is going to be the real Obama. No more being handcuffed for the next election.
Yep, that is what I'm looking forward to.....bring it on, all of it....let it rain.

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Old 01-05-2013, 11:39 PM   #578
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Default Re: Discussion: The Economy, National Debt, And Other Financial Issues III

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Yes, across the board.....

I tend to take a Classical approach to changes in the economy. Go one step at a time, reinstate the Clinton Tax rates, 20% across the board cuts....and let the economy take hold of those things. If the housing is still sluggish, then look at ways to NOT INFLATE THE balloon again, but simply allow banks to NOT HOLD SO STRONG TO THEIR LENDING....right now it is ridiculous, hell no one can get a loan. It is hard for me to really look at housing, because here in Houston, the housing market is booming, and part of that reason is there are less regulations on businesses here, and they are moving here like crazy, which brings in people looking for jobs, etc.....
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I don't really think we need to do all that. I think we should just focus on working towards full employment. Something that a lot of us don't realize is that the debt we owe does not have to be paid all at once. Outside of the T-bill, which has maturity dates between 28 to 364 days, we don't have to pay back a lot of that debt for decades. Furthermore, unlike Greece or Argentina, we run a fiat currency system, which means that we can print our own money at will if we need to pay back our debts. It has already been proven that there are means where we can increase our monetary supply without experiencing significant inflation, so as long as you have smart people working at the US Treasury and the Federal Reserve, we could in essence inflate our way out of our debt such that this so called crisis is just a old fish tale. At least if we work on creating jobs we can generate more revenue such that we don't have to raise taxes so much just to cover our short term commitments. In the future, we should not be fighting wars or building military hardware with out a pay-for, and we definitely should be lowering taxes in the middle of a war.
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Yep.....why pay our bills....
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Originally Posted by dnno1 View Post
Like I said before, we don't have to pay it all right now (I never said that we don't have to pay it at all). A lot of it we don't have to pay for another 30 years or so. What we should be doing is focusing on getting the money to pay it by then. Lowering revenue and cutting spending by the same amount is not going to get there. Remember, we have a fiat currency system so we can never become insolvent if we don't want to. Even Alan Greenspan admitted to that back in 1997 (see the first paragraph on page 2). Since we have a lot of time, if we focus on getting our economy to create jobs here in the United States, we can increase our revenue base (and maybe not have to raise taxes at all). If all else failed we (responsibly over time) could just expand our money supply and make our debt look like an afterthought.
A couple weeks old, but just wanted to quote this absolute shellacking. Care to respond to dnno1's points, Kelly? You kind of disappeared afterwards...

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Old 01-06-2013, 12:37 AM   #579
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Oh yeah they do.....you mention his name to my 11 year old students and many will say......oh yeah, that old tan dude in the House.....he cries alot.
Lol thats good to know that someone is keeping are children in the know. Good work Kelly.

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Old 01-06-2013, 12:44 AM   #580
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Yep, that is what I'm looking forward to.....bring it on, all of it....let it rain.

I'm going to laugh out loud and cry, CRY, like for real..if he continues to shred our civil liberties, but either decriminalizes weed or makes it legal.

''Stop crying about the ever growing police state and debt and just get high''


Oh, and I hope he comes out and says FOXNEWS is awful but Red Eye is a wonderful delight, even with Greg's jokes at me.

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Old 01-06-2013, 11:48 AM   #581
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Lol thats good to know that someone is keeping are children in the know. Good work Kelly.
Thank you....I do my very best to corrupt the minds of our young people each and every day.

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Old 01-06-2013, 02:46 PM   #582
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Thank you....I do my very best to corrupt the minds of our young people each and every day.
Corruption for breakfast...its GREATTTT!!!

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Old 01-07-2013, 08:45 AM   #583
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Default Re: Discussion: The Economy, National Debt, And Other Financial Issues III

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Originally Posted by humbdrumb View Post
A couple weeks old, but just wanted to quote this absolute shellacking. Care to respond to dnno1's points, Kelly? You kind of disappeared afterwards...
I'll respond to one of them:

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(and maybe not have to raise taxes at all)
Too late for that. My SS tax just went up 50% to the tune of about $2500 a year after the prez promised not to raise taxes on the middle class. Apparently over 75% of the country has just experienced the same. Thanks again, b'rack.

Care to respond?

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Old 01-07-2013, 02:33 PM   #584
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

All the pork talk is making me hungry

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Old 01-07-2013, 09:52 PM   #585
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Default Re: Discussion: The Economy, National Debt, And Other Financial Issues III

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I'll respond to one of them:



Too late for that. My SS tax just went up 50% to the tune of about $2500 a year after the prez promised not to raise taxes on the middle class. Apparently over 75% of the country has just experienced the same. Thanks again, b'rack.

Care to respond?
That's nice, but considering that it was never meant to be permanent (it was just a form of stimulus) you shouldn't be surprised that it was going up by about 3.1% anyway. The Republicans were never concerned about that either. Also note that I said maybe.

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Old 01-07-2013, 11:14 PM   #586
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

Obama lied...the end.

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Old 01-08-2013, 12:56 AM   #587
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Obama lied...the end.
They all lie...what's new?

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Old 01-08-2013, 08:55 AM   #588
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Default Re: Discussion: The Economy, National Debt, And Other Financial Issues III

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That's nice, but considering that it was never meant to be permanent (it was just a form of stimulus) you shouldn't be surprised that it was going up by about 3.1% anyway. The Republicans were never concerned about that either. Also note that I said maybe.
First, I'm really interested in hearing what you find 'nice' about it. Your president stated he would not raise taxes on the middle class and then did it.

Second, whatever it was 'meant' to be is irrelavent. He should have extended it so as not to prove himself to be the liar that most all who voted against him knew him to be.

Math lesson: it went up from 4.2% to 6.2%: that's actually a 50% increase unless you actually mean the difference between 4.2 and 6.2 which is 2.0.

Lastly, the republicans were the ones who were only concerned that taxes not be raise on the wealthiest Americans, remember? OBAMA is the one who said he'd raise taxes on the rich and NOT on the middle class. Did you forget that?

Unless you fall in that minority who won't see a tax increase (and if you do, just hold on, he'll get you too), you should be pissed off too, even moreso since I assume you voted for him. This is going to be 4 years of unfettered obama and this country is ****ed!

But you put him there so I guess you'll just keep making excuses for him.

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Old 01-08-2013, 08:57 AM   #589
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Obama lied...the end.
Well, it certainly isn't the beginning of his lies...unfortunately, it won't be the end of them either. Better to say, 'Obama lied...and so it continues.' Unless you mean the end of this country as we have known it which I can see.

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Old 01-08-2013, 09:07 AM   #590
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Obama lied...the end.

*SHOCK!*


ok, not really...
They all lie. It's just that Obama isn't a very good liar.

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Old 01-08-2013, 12:17 PM   #591
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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*SHOCK!*


ok, not really...
They all lie. It's just that Obama isn't a very good liar.
Apparently he is, he has gotten elected 2x now....

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Old 01-08-2013, 03:25 PM   #592
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

So should the trillion dollar coin be caramel or chocolate? Discuss.

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Old 01-08-2013, 03:27 PM   #593
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So should the trillion dollar coin be caramel or chocolate? Discuss.
Milk chocolate!!

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Old 01-08-2013, 03:41 PM   #594
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

A Trillion dollar coin makes no sense to me, but then again, neither does our Fiat money system. So we can print off all the Fiat money we want, just paper money with no value other than we say it is legal and has value, and to get ourself outta debt, we just go 'hey, we can make a Trillion dollar coin''.

-_-...

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Old 01-08-2013, 03:57 PM   #595
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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A Trillion dollar coin makes no sense to me, but then again, neither does our Fiat money system. So we can print off all the Fiat money we want, just paper money with no value other than we say it is legal and has value, and to get ourself outta debt, we just go 'hey, we can make a Trillion dollar coin''.

-_-...
I guess it's like those fancy restaurants that boast about having a $200 hamburger; all you need is one sucker to buy it, and you're laughing all the way to the bank.

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Old 01-08-2013, 04:23 PM   #596
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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A Trillion dollar coin makes no sense to me, but then again, neither does our Fiat money system. So we can print off all the Fiat money we want, just paper money with no value other than we say it is legal and has value, and to get ourself outta debt, we just go 'hey, we can make a Trillion dollar coin''.

-_-...
http://www.huffingtonpost.com/2013/0...n_2426333.html

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Old 01-09-2013, 08:27 PM   #597
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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A Trillion dollar coin makes no sense to me, but then again, neither does our Fiat money system. So we can print off all the Fiat money we want, just paper money with no value other than we say it is legal and has value, and to get ourself outta debt, we just go 'hey, we can make a Trillion dollar coin''.

-_-...
Former head of U.S. Mint: The platinum coin option would work
http://www.huffingtonpost.com/2013/0...n_2442073.html

Minting the coin is like borrowing money at zero interest. The treasury would deposit the coin at the Fed and they would then start paying the bills. If the Fed chooses, they could give the coin back to the treasury but they would only get the face value back. It is smarter than issuing a Treasury Note which would be paid back with interest. If the Federal Reserve were smart, though, they would sell the coin some time in the future to a private collector for something more than face value some time in the future in order to make a profit.

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Old 01-10-2013, 12:38 AM   #598
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

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Former head of U.S. Mint: The platinum coin option would work
http://www.huffingtonpost.com/2013/0...n_2442073.html

Minting the coin is like borrowing money at zero interest. The treasury would deposit the coin at the Fed and they would then start paying the bills. If the Fed chooses, they could give the coin back to the treasury but they would only get the face value back. It is smarter than issuing a Treasury Note which would be paid back with interest. If the Federal Reserve were smart, though, they would sell the coin some time in the future to a private collector for something more than face value some time in the future in order to make a profit.

But this isn't paying our bills. We are basically saying 'Hey, instead of paying off the debt in a logical way, how about we just make a Trillion dollar coin?' I don't see this as reasonable.

And If I recall, from reading wie's link two days ago, this isn't liekly to happen. It just wouldn't work. But hey, I don't get paid to talk about this stuff, so I dunno. Just my two cents.

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Old 01-10-2013, 12:56 AM   #599
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

Technically it would work.

Legally, it's muddy if Obama could have it created through an Executive Order

Economically, it's a bit up in the air if it would be inflationary or not, and how much.

Financially and politically, the fallout would likely be disastrous. Politically, it would either destroy the Dems or the Reps, depending on if it succeeds or not. Financially, it could be another signal we can't pay our bills, and we end up taking another credit rating hit.

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Old 01-10-2013, 07:59 AM   #600
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Default Re: Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues

It's called Accounting Fraud, there wouldn't be any inflation. But then it really goes well with the administration's theme.

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