Posted tagged ‘United States debt ceiling’

Must Reads For The Week 10/26/13

October 26, 2013
The pen is mightier than the sword...

The pen is mightier than the sword… (Photo credit: mbshane)

Yale Professor Surprised: Tea Party Supporters More Scientifically Literate, by Kyle Becker, at ijreview.com. From the article, “…all my impressions come from watching cable tv…..and reading the paper…I’m a little embarrassed, but glad…I no longer hold this particular mistaken view.”

Obamacare Tech Firm (CGI) Tried, Failed To Build Gun Registry In Canada, by Joel B. Pollak, at breitbart.com. Does the choice of CGI to build the website tells us the administration is either less scientifically literate than the average person, corrupt, incompetent, or just unlucky?

Why The Fed Will NEVER End Quantitative Easing, by Patrick Barron, at patrickbarron.blog.blogspot.com. An excellent one paragraph analysis of why the Fed can’t escape the Groundhog Day movie it created for itself.

Alan Greenspan Warns Of Double Digit Price Inflation, at economicpolicyjournal.com. Former fed chairman warns, “the feds balance sheet expansion may unleash inflation.” A moment of candor from an insider.

With Debt Ceiling Lifted, Federal Government Resumes Borrowing Spree, by J. D. Tuccille, at reason.com. The “kick the can” debt ceiling deal, allows the U. S. Treasury to borrow as much as it wants until February 7th 2014. I Guess this shows how serious “socialists of both parties” are about controlling spending.

Debt Limit: A Guide To American Debt Limit Made Easy, youtube video. I found this at Carpe Deim Blog, This is a short video that puts the Governments debt problem in perspective.

The Diverse Beer Economy As An Ecosystem, by Mark J. Perry, at Carpe Deim Blog. Explains how brewpubs and microbreweries are finding a niche market among all the big beer makers.

Higher Education: The Conventional Wisdom Is Wrong, by George Leef, at faculityrow.com. Here’s the money quote, “….for many students, their K-12 years leave them pitiably unprepared, both for post-secondary education and the world of work.”  And this, “Any increase in college enrollment will overwhelmingly come from such academically marginal students.”

How Bitcoin Will Be Neutralized By The Government, at economicpolicyjournal.com. The Gov. will do anything to protect its monopoly on money creation.

Observations From The Margin

October 21, 2013
Observation Tower

Observation  (Photo credit: mooglet)

– If you were a number one draft choice, and you hired the republican leadership to negotiate your contract with the team that drafted you. You would probably have to pay the team a signing bonus to play for them.

– What a sweet deal Government workers have. They will receive back pay for not working for two weeks. Maybe they should ask for unemployment compensation to go along with their two week paid vacation.

– The republicans were convinced they would lose seats in the 2014 election if they continued the shutdown and didn’t extend the debt ceiling. The deal they agreed to just delays dealing with the problem for three months. I have to ask, If you were afraid of losing seats a year out from the election, how much more afraid will you be nine months out? Do you think the republicans will be more eager to surrender or fight?

– The administration wouldn’t pay death benefits to families of soldiers killed in combat during the shut down. When they finally passed the CR to fund Government, section 134 specifically gives a death benefit for the widow of Senator Frank Lautenberg (his net worth is $56.8 million). What’s the difference between being a serf and being member of the ruling aristocracy? A serf is used as a pawn to be sacrificed in the political chess game, and nothing can be denied what is the birth right of the ruling class.

– During the shut down, I heard people talk as if the Government is the economy. Question, does the Government produce what it consumes, or does the private sector produce everything and Government confiscates what it consumes? Who is the parasite and who is the host in this relationship?

– When a politician uses the phrase, “the American people” want or need or think something, he is presuming more knowledge about how individual Americans think than he can possibly know. It’s a phrase designed to stop arguments that are counter to his position, by claiming a majority agree with him.

– Some related cartoons from, The Burning Platform. See more here.

138981 600 Congress kicks the can cartoons

Let’s Think About The Shutdown, The Debt Ceiling, And Obamacare.

October 15, 2013
Former logo

Former logo (Photo credit: Wikipedia)

The President and Congress are the actors and we are the audience as the shutdown, debt ceiling, and obamacare political theater is being played out in Washington D. C. We must always remember that everything a politician does and says has to be analyzed from the stand point of what each politician values most. For most politicians they value staying in, and gaining more power above everything. Some may have other motives, but, if we start with this basic understanding of what they are really trying to accomplish instead of believing what they say they are trying to do, our odds of seeing through the political B. S. go up exponentially. Let’s take a look the shutdown, the debt ceiling, and Obamacare from the perspective of their political self-interest.

THE SHUTDOWN

The U.S. hasn’t passed a budget since the President signed an omnibus spending bill in April of 2009. Since then we have been operating on continuing resolutions. When a budget is passed it recommends spending levels for mandatory and discretionary programs. In order for a discretionary program to be funded, an appropriations bill has to be passed, but a mandatory program, like social security, is funded without an appropriations bill. When an appropriations bill runs out and there has been no budget passed, a continuing resolution (CR) is passed which funds discretionary programs at current or expanded levels. If a CR isn’t passed, discretionary programs are cut to essential personal only. Mandatory programs are always funded. As boring as that was, we should have a basic understanding of how your tax dollars are appropriated. Now let’s look at this through the political theater prism.

Each actor is trying to convince you, the audience, that the other actor is responsible for the Government shutdown. They think winning this blame game helps them in their quest to stay in, and gain more power. The President is attempting to make the shut down have as negative  an effect on as many people as possible because he feels he can convince us, with the help of the main stream media, that republicans are responsible for all the negative effects that he chose to inflict on us. He probably never thought he would be in this position because he figured the republicans would surrender like they always do when they get attacked. The only reason they haven’t surrendered is because Senators Ted Cruz and Mike Lee have inspired small Government individuals to let their voices be heard. If public opinion wasn’t so strong this would have been over weeks ago.

Only about 20% of the Government is shut down, and if the shut down continues, people will begin to figure out we can get along just fine with smaller Government. Government is not the end all and be all that politicians try to convince us it is.

THE DEBT CEILING

Most of the R’s and D’s, in this recent debt ceiling debate, have been on the other side of the debate during previous debt ceiling debates. This point shows it’s all about politics. We are told by central planning progressives, that the U.S. will default when the debt ceiling is reached, this is a lie. The Government is legally bound, by section 4 of the fourteenth amendment of the constitution, to pay the interest on their debt. The Government takes in over $200 billion a month in taxes and pays close to $20 billion a month in interest on the debt. They will have more than enough to pay off the monthly interest on the debt. Politicians want the debt ceiling raised because they don’t want to make the hard decisions about what they will have to cut out of a $3.7 trillion budget, if they are forced to only spend the $2.5 trillion confiscated from taxpayers. This is the equivalent of  passing a balanced budget amendment without passing a balanced budget amendment. Our credit rating would be better because we wouldn’t be going deeper in debt, and the Fed wouldn’t have to electronically print the counterfeit money that is presently being used to purchase Government debt. These are all good things for the country as a whole, but not being able to spend would be the last thing a politician wants. Their power comes from their ability to make rules, and redistribute money. Less money leads to smaller Government and neither party wants less power.

OBAMACARE

Here is the simple truth about Obama care. It is the final step to a single payer government-run health care system. That is the progressives ultimate goal. These central planners want insurance premiums to rise. They also want employers to drop their insurance plans, dump their employees onto the Government exchanges, and pay the fine, or tax, or whatever it is. They want private health insurance to go by the wayside and be replaced by Government insurance, although Government insurance isn’t insurance in the true sense of the word. Government insurance is nothing more than a transfer payment from producers to nonproducers.

Single payer is something progressives have wanted for decades, so it’s more important to them than their political skins. They will do anything, lie, cheat, beg, borrow or steal, (oh yeah, they already have), to implement a single payer system.

CONCLUSION

When it comes to politicians, you have to know what they value most in order to understand what they’re doing. Politicians, 1)  value their power most and will do anything to keep it, 2) value their ideology or vision above everything, including keeping their position of power, or 3) honestly think they are doing what is right. Keep these in mind every time you here a politician open his mouth.

Related ArticleFiscal Cliff or Political Theater? by austrianaddict.com.

Related ArticleA Look Behind The Curtain At The Fiscal Cliff Theater, The Jokes On You, by austrianaddict.com.

Related ArticleHuman Action Reveals The Reality About Political Decisions, by austrianaddict.com.

Must Reads For The Week 10/12/13

October 12, 2013
The pen is mightier than the sword...

The pen is mightier than the sword… (Photo credit: mbshane)

Treasury Secretary Lew Refuses To Discuss Obamacare Enrollees, youtube.com. At least he didn’t lie, he just filibustered the answer.

Debt Ceiling Humor: Obama opposed the debt ceiling increase in 2006, at zerohedge.com. The President was against raising the debt ceiling, before he was for it.

The Second Battle Of Yorktown: Defying The Park Service, by Gary North, at lewrockwell.com. Restaurant owner defies Park Service, reopens after he is told to shut down. Let’s all take a stand against Government force.

Dr. Ben Carson’s IRS Audit Can’t Possibly Be Coincidence, at investors .com. Using Government coercion to punish critics, on the one hand, and  to constrain future criticism on the other.

Runner Fined $100 At Valley Forge Amid Government Shutdown, at philadelphiacbslocal.com. We don’t have enough money to keep the park open, but we have enough money to pay police to watch over a shutdown park.

laziest Postal Worker Ever, Youtube video. I saw this and thought it couldn’t possibly be real. I thought someone had paid a postal worker to use the mail truck for half an hour just to make this video. “Neither snow nor rain nor heat nor gloom of night stays these carriers from the swift completion of their appointed rounds.”

Inarticulate Republicans, by Thomas Sowell, at jewishworldreview.com. Quote from Thomas Sowell, “Democrats….could sell refrigerators to Eskimos before Republicans could sell them blankets.The reason establishment Republicans can’t articulate individual freedom and free markets is because they don’t believe in or understand individual freedom and free markets.

Are Guns The Problem, by Walter E. Williams, at jewishworldreview.com. Quote from Walter Williams, “Customs, traditions, moral values and rules of etiquette, not just laws and government regulations, are what make for a civilized society, not restraints on inanimate objects.”  Guns don’t behave, people behave.