emptybruwer
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The US Government Shutdown Thread
- Thread starter LazyLion
- Start date
Statue of Liberty, closed by shutdown, reopens to tourists
http://www.reuters.com/article/2013/10/13/us-usa-fiscal-statueofliberty-idUSBRE99C08U20131013
http://www.reuters.com/article/2013/10/13/us-usa-fiscal-statueofliberty-idUSBRE99C08U20131013
INVISIBLE !
What is fascinating to me is how everyone talks about the National Debt
but
NO-ONE
I saying who the money is owed to ????
WHO
Holds the US Government debt ? ( Come on Garry and all the other little US clones -- TELL US )
The banks that the US taxpyer is busy bailing out ?????
Look up Abe Lincoln and the "GREENBACK" ........ !!!!!!!!!!
Sometime ago I wrote that the US was a failed democracy / failed state
Seem I have once again foretold the future event
FDR would be so proud of how his little seeds ( the NEW DEAL ) have borne so much fruit and how SOCIALIST the US has become !
Look ( on You-Tube ) for some of the old Ayn Rand interviews -- she said America would become a fascist ( national socialist ) state -- how right she was
Interesting those old early interviews -- the spin doctoring was a bit less sophisticated and blunt in those days
Wonder how much aid to ISRAHELL has been cut ????
What is fascinating to me is how everyone talks about the National Debt
but
NO-ONE
I saying who the money is owed to ????
WHO
Holds the US Government debt ? ( Come on Garry and all the other little US clones -- TELL US )
The banks that the US taxpyer is busy bailing out ?????
Look up Abe Lincoln and the "GREENBACK" ........ !!!!!!!!!!
Sometime ago I wrote that the US was a failed democracy / failed state
Seem I have once again foretold the future event
FDR would be so proud of how his little seeds ( the NEW DEAL ) have borne so much fruit and how SOCIALIST the US has become !
Look ( on You-Tube ) for some of the old Ayn Rand interviews -- she said America would become a fascist ( national socialist ) state -- how right she was
Interesting those old early interviews -- the spin doctoring was a bit less sophisticated and blunt in those days
Wonder how much aid to ISRAHELL has been cut ????
So much fail in one post.
LazyLion
King of de Jungle
Don't feed the troll. 
ToxicBunny
Oi! Leave me out of this...
Midnight Wizard...
Go compare posting style...
Go compare posting style...
LazyLion
King of de Jungle
The_Assimilator
Executive Member
Yep, has been previously banned. (Hence the new name b@nd).
Don't the forum rules state that registering an account after being banned is a bannable offence? If so why is this not being enforced?
LazyLion
King of de Jungle
Because IP addresses don't always confirm this, and they like to be 100% sure.
LazyLion
King of de Jungle
Background: What happens after
The US government has been on the precipice of default before - in 2011 - but never on such a narrow ledge as it stands now.
At midnight Wednesday (0400 GMT Thursday), the US Treasury will have exhausted all its "extraordinary measures" to put off the day of reckoning.
Without congressional approval to lift the debt ceiling, the government of the world's largest economy will be unable to borrow any more money because it will have reached the 16.7-trillion-dollar limit of its legal borrowing authority.
On Thursday, Treasury will have approximately 30 billion dollars cash on hand - not enough to meet daily obligations, which can reach 60 billion dollars, Treasury Secretary Jacob Lew has warned.
That does not mean the country will immediately go into default.
Default will happen on the first day the government misses paying a bill on time. That could happen anywhere from October 22 to November 1, according to the Bipartisan Policy Centre, a Washington think tank.
But it could also happen as early as Thursday, according to debt limit expert Neil Buchanan, a law professor at George Washington University.
Tax revenues will continue flowing into the coffers on an unpredictable daily basis, the Treasury says.
Revenues could help pay the 12 billion dollars due October 23 to social security pensioners, 6 billion dollars due on October 31 in interest payments to public bond holders, and a total 5 billion dollars in federal salaries and health costs for the poor between the two dates, the Bipartisan Centre projected.
On November 1, bills totalling 61 billion dollars come due all on one day for pensioners and their medical care, active duty military personnel, military retirees and veterans benefits, the centre projected.
"With revenues coming in sporadically, I can tell you for sure that sometime in that five-day working period, Treasury will not have cash on hand," the centre's Steve Bell said in a podcast.
The prospect of default has sent shudders through the domestic and international finance system and threatens to undermine what US officials call the "full faith and credit of the United States" - the global reputation of bonds issued by the world's largest economy as a safe harbour.
Interest rates on US bonds have already jerked upward in recent days over the uncertainty, and US President Barack Obama has warned that default would wash across credit markets, hiking interest rates everywhere - on mortgages, student loans and business borrowing.
The result could be a global recession worse than the US financial meltdown in 2008, and jeopardize the fragile economic recovery since then, Lew has warned.
Even before that, if investors wake up Thursday morning to hear Congress failed to raise the debt limit, there will be "immediate action" on the financial markets, starting in Asia, then Europe and the US, Buchanan told dpa.
"What's going to happen on the markets is a pretty big panic," he said.
Legal scholars point out that Obama could ignore the 1917 debt ceiling law, which is not anchored in the Constitution, and claim emergency powers to borrow money under the 14th Amendment to the Constitution. Adopted in 1868, it says: "The validity of the public debt of the United States, authorized by law ... shall not be questioned."
Obama last week rejected that option, saying that the legal controversy alone about the Treasury's authority to issue debt would do immense "damage" to the faith and credit of the United States.
"It'd be tied up in litigation for a long time. That's going to make people nervous," he said. "What people ignore is that ultimately what matters is, what do the people who are buying Treasury bills think?"
"There are no magic bullets here."
Source : Sapa-dpa /gm
Date : 16 Oct 2013 02:56
The US government has been on the precipice of default before - in 2011 - but never on such a narrow ledge as it stands now.
At midnight Wednesday (0400 GMT Thursday), the US Treasury will have exhausted all its "extraordinary measures" to put off the day of reckoning.
Without congressional approval to lift the debt ceiling, the government of the world's largest economy will be unable to borrow any more money because it will have reached the 16.7-trillion-dollar limit of its legal borrowing authority.
On Thursday, Treasury will have approximately 30 billion dollars cash on hand - not enough to meet daily obligations, which can reach 60 billion dollars, Treasury Secretary Jacob Lew has warned.
That does not mean the country will immediately go into default.
Default will happen on the first day the government misses paying a bill on time. That could happen anywhere from October 22 to November 1, according to the Bipartisan Policy Centre, a Washington think tank.
But it could also happen as early as Thursday, according to debt limit expert Neil Buchanan, a law professor at George Washington University.
Tax revenues will continue flowing into the coffers on an unpredictable daily basis, the Treasury says.
Revenues could help pay the 12 billion dollars due October 23 to social security pensioners, 6 billion dollars due on October 31 in interest payments to public bond holders, and a total 5 billion dollars in federal salaries and health costs for the poor between the two dates, the Bipartisan Centre projected.
On November 1, bills totalling 61 billion dollars come due all on one day for pensioners and their medical care, active duty military personnel, military retirees and veterans benefits, the centre projected.
"With revenues coming in sporadically, I can tell you for sure that sometime in that five-day working period, Treasury will not have cash on hand," the centre's Steve Bell said in a podcast.
The prospect of default has sent shudders through the domestic and international finance system and threatens to undermine what US officials call the "full faith and credit of the United States" - the global reputation of bonds issued by the world's largest economy as a safe harbour.
Interest rates on US bonds have already jerked upward in recent days over the uncertainty, and US President Barack Obama has warned that default would wash across credit markets, hiking interest rates everywhere - on mortgages, student loans and business borrowing.
The result could be a global recession worse than the US financial meltdown in 2008, and jeopardize the fragile economic recovery since then, Lew has warned.
Even before that, if investors wake up Thursday morning to hear Congress failed to raise the debt limit, there will be "immediate action" on the financial markets, starting in Asia, then Europe and the US, Buchanan told dpa.
"What's going to happen on the markets is a pretty big panic," he said.
Legal scholars point out that Obama could ignore the 1917 debt ceiling law, which is not anchored in the Constitution, and claim emergency powers to borrow money under the 14th Amendment to the Constitution. Adopted in 1868, it says: "The validity of the public debt of the United States, authorized by law ... shall not be questioned."
Obama last week rejected that option, saying that the legal controversy alone about the Treasury's authority to issue debt would do immense "damage" to the faith and credit of the United States.
"It'd be tied up in litigation for a long time. That's going to make people nervous," he said. "What people ignore is that ultimately what matters is, what do the people who are buying Treasury bills think?"
"There are no magic bullets here."
Source : Sapa-dpa /gm
Date : 16 Oct 2013 02:56
LazyLion
King of de Jungle
Congress ends US Shutdown, avoids default
The U.S. government reopened its doors Thursday after Congress passed legislation to end a government shutdown and - just in the nick of time - avert a U.S. debt default in a bipartisan deal that left Republicans little to show for the epic political drama that threatened to rattle the world economy.
The Senate voted 81-18 to send the measure to the Republican-controlled House of Representatives, which passed it late Wednesday night 285-144. President Barack Obama signed the measure - which adhered strictly to the terms he laid down when the twin crises erupted more than three weeks ago - shortly after midnight Thursday.
Congress had faced a deadline of 11:59 p.m. on Thursday to raise the government's borrowing authority or risk a default on its obligations.
The bill reopens the government through Jan. 15 and permits the Treasury to borrow normally through Feb. 7 or perhaps a month longer. It includes nothing for Republicans demanding to eradicate or scale back Obama's signature health care overhaul.
"We fought the good fight. We just didn't win," conceded House Speaker John Boehner as lawmakers lined up to vote on the bill.
At the White House, Obama hailed the Senate's vote and promised to sign the legislation immediately. "We'll begin reopening our government immediately and we can begin to lift this cloud of uncertainty from our businesses and the American people," he said.
Less than an hour later, as debate began in the House, Republican Rep. Harold Rogers said: "After two long weeks, it is time to end this government shutdown. It's time to take the threat of default off the table. It's time to restore some sanity to this place."
The stock market surged earlier Wednesday at the prospect of an end to the crisis that had threatened to shake confidence in the U.S. economy overseas.
The crisis began on Oct. 1 with a partial shutdown of the federal government after House Republicans refused to accept a temporary funding measure unless Obama agreed to defund or delay his health care law, known as "Obamacare." It escalated when House Republicans also refused to move on needed approval for raising the amount of money the Treasury can borrow to pay U.S. bills, raising the specter of a catastrophic default. Obama vowed repeatedly not to pay a "ransom" in order to get Congress to pass normally routine legislation.
The hard-right tea party faction of House Republicans, urged on by conservative Sen. Ted Cruz of Texas, had seen both deadlines as weapons that could be used to gut Obama's Affordable Care Act, designed to provide tens of millions of uninsured Americans with coverage. The Democrats remained united against any Republican threat to Obama's signature program, and Republicans in the House could not muster enough votes to pass their own plan to end the impasse.
More than two million federal workers - those who had remained on the job and those who had been furloughed - would be paid under the agreement.
Boehner and the rest of the top Republican leadership told their rank and file they would vote for the measure. But he vowed Republicans were not giving up on the fight to bring down U.S. debt and cripple "Obamacare," as the president's signature health care overhaul is known.
"Our drive to stop the train wreck that is the president's health care law will continue," Boehner said in a statement.
Harry Reid, the Democratic Senate majority leader, thanked Sen. Mitch McConnell, the Republican minority leader, for working with him to end what had become one of the nastiest partisan battles in recent Washington history.
"This is a time for reconciliation," Reid said.
A long line of polls charted a steep decline in public approval for Republicans in the course of what Republican Sen. John McCain pronounced a "shameful episode" in U.S. history.
The deal ends the bitter standoff for now, giving both parties time to cool off and come up with a broader budget plan or risk repeating the damaging cycle again in the new year.
Within moments of the House's vote, Sylvia Mathews Burwell, director of the Office of Management and Budget, issued a statement saying "employees should expect to return to work in the morning."
McConnell said the time had come to back away for now from Republican efforts to undermine "Obamacare." But the feisty minority boss said Republicans had not given up on erasing it from the legislative books.
Passage in the House depended heavily on minority Democrats to support it. The risky move was seen as imperiling the House leadership, but Boehner was ready to end the crisis that had badly damaged Republican approval among voters.
Looking forward, lawmakers were also concerned voters would punish them in next year's congressional elections. Polls show the public more inclined to blame Republicans.
Republican Sen. Lindsey Graham said the party had hurt its cause through the long and dangerous standoff.
"This package is just a joke compared to what we could have gotten if we had a more reasonable approach," he said.
---
Associated Press writers David Espo, Steven R. Hurst, Alan Fram, Andrew Taylor, Charles Babington, Stephen Ohlemacher, Henry C. Jackson and Donna Cassata contributed to this report.
Source : Sapa-AP /gm
Date : 17 Oct 2013 07:46
The U.S. government reopened its doors Thursday after Congress passed legislation to end a government shutdown and - just in the nick of time - avert a U.S. debt default in a bipartisan deal that left Republicans little to show for the epic political drama that threatened to rattle the world economy.
The Senate voted 81-18 to send the measure to the Republican-controlled House of Representatives, which passed it late Wednesday night 285-144. President Barack Obama signed the measure - which adhered strictly to the terms he laid down when the twin crises erupted more than three weeks ago - shortly after midnight Thursday.
Congress had faced a deadline of 11:59 p.m. on Thursday to raise the government's borrowing authority or risk a default on its obligations.
The bill reopens the government through Jan. 15 and permits the Treasury to borrow normally through Feb. 7 or perhaps a month longer. It includes nothing for Republicans demanding to eradicate or scale back Obama's signature health care overhaul.
"We fought the good fight. We just didn't win," conceded House Speaker John Boehner as lawmakers lined up to vote on the bill.
At the White House, Obama hailed the Senate's vote and promised to sign the legislation immediately. "We'll begin reopening our government immediately and we can begin to lift this cloud of uncertainty from our businesses and the American people," he said.
Less than an hour later, as debate began in the House, Republican Rep. Harold Rogers said: "After two long weeks, it is time to end this government shutdown. It's time to take the threat of default off the table. It's time to restore some sanity to this place."
The stock market surged earlier Wednesday at the prospect of an end to the crisis that had threatened to shake confidence in the U.S. economy overseas.
The crisis began on Oct. 1 with a partial shutdown of the federal government after House Republicans refused to accept a temporary funding measure unless Obama agreed to defund or delay his health care law, known as "Obamacare." It escalated when House Republicans also refused to move on needed approval for raising the amount of money the Treasury can borrow to pay U.S. bills, raising the specter of a catastrophic default. Obama vowed repeatedly not to pay a "ransom" in order to get Congress to pass normally routine legislation.
The hard-right tea party faction of House Republicans, urged on by conservative Sen. Ted Cruz of Texas, had seen both deadlines as weapons that could be used to gut Obama's Affordable Care Act, designed to provide tens of millions of uninsured Americans with coverage. The Democrats remained united against any Republican threat to Obama's signature program, and Republicans in the House could not muster enough votes to pass their own plan to end the impasse.
More than two million federal workers - those who had remained on the job and those who had been furloughed - would be paid under the agreement.
Boehner and the rest of the top Republican leadership told their rank and file they would vote for the measure. But he vowed Republicans were not giving up on the fight to bring down U.S. debt and cripple "Obamacare," as the president's signature health care overhaul is known.
"Our drive to stop the train wreck that is the president's health care law will continue," Boehner said in a statement.
Harry Reid, the Democratic Senate majority leader, thanked Sen. Mitch McConnell, the Republican minority leader, for working with him to end what had become one of the nastiest partisan battles in recent Washington history.
"This is a time for reconciliation," Reid said.
A long line of polls charted a steep decline in public approval for Republicans in the course of what Republican Sen. John McCain pronounced a "shameful episode" in U.S. history.
The deal ends the bitter standoff for now, giving both parties time to cool off and come up with a broader budget plan or risk repeating the damaging cycle again in the new year.
Within moments of the House's vote, Sylvia Mathews Burwell, director of the Office of Management and Budget, issued a statement saying "employees should expect to return to work in the morning."
McConnell said the time had come to back away for now from Republican efforts to undermine "Obamacare." But the feisty minority boss said Republicans had not given up on erasing it from the legislative books.
Passage in the House depended heavily on minority Democrats to support it. The risky move was seen as imperiling the House leadership, but Boehner was ready to end the crisis that had badly damaged Republican approval among voters.
Looking forward, lawmakers were also concerned voters would punish them in next year's congressional elections. Polls show the public more inclined to blame Republicans.
Republican Sen. Lindsey Graham said the party had hurt its cause through the long and dangerous standoff.
"This package is just a joke compared to what we could have gotten if we had a more reasonable approach," he said.
---
Associated Press writers David Espo, Steven R. Hurst, Alan Fram, Andrew Taylor, Charles Babington, Stephen Ohlemacher, Henry C. Jackson and Donna Cassata contributed to this report.
Source : Sapa-AP /gm
Date : 17 Oct 2013 07:46