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The Debt Ceiling Deadline Has Passed, And Now The Biggest Test Of Donald Trump’s Presidency Begins…

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Trump First Weekly Address - Public DomainOn Wednesday, the temporary suspension of the debt ceiling ended, and so now the federal government is not going to be able to go into any more debt until the debt ceiling is raised.  For the moment, the Trump administration can implement “emergency measures” to stay under the debt limit, but it won’t be too long before we get to a major crisis point because the federal government is quickly running out of cash.  Already, the U.S. Treasury has less cash on hand than Apple or Google, and that cash balance is going to keep on dropping until the debt ceiling is finally lifted.

You may remember that the debt ceiling became a major issue a couple of times during the Obama years.  Last time around, Barack Obama and the Republicans in Congress agreed to a horrendous deal which suspended the debt ceiling until several months after the 2016 election

Since President Barack Obama signed the “Bipartisan Budget Act” on Nov. 2, 2015 there had been no legal limit on the amount of money the federal government could borrow until now. That law included a section entitled “Temporary Extension of Public Debt Limit.” It said that the law imposing a limit on the federal debt “shall not apply for the period beginning on the date of the enactment of this Act and ending on March 15, 2017.”

During the 16 and a half months between the signing of that deal and today, the U.S. national debt rose by a whopping $1,414,397,000,000.

But now the U.S. national debt will not be allowed to rise by another penny until the debt ceiling is raised or suspended once again.

The Trump administration is pushing hard to get the debt ceiling raised, and this is a complete reversal from how Donald Trump felt about the debt ceiling back in 2013.  The following comes from the L.A. Times

Trump sided with hard-liners in 2013, publicly opposing an increase. “I cannot believe the Republicans are extending the debt ceiling — I am a Republican & I am embarrassed!” he tweeted then.

Trump was actually right about the debt ceiling in 2013, and he is wrong now.

We simply cannot afford to keep adding trillions of dollars to the national debt.  What we are doing to future generations of Americans is beyond criminal, because we are literally destroying their future just so that we can enjoy an inflated standard of living that we do not deserve today.

Treasury Secretary Steven Mnuchin has already begun to implement “extraordinary measures” to keep us under the debt ceiling.  The first step that was taken was the suspension of the sale of SLGS securities

“Today,” Mnuchin wrote, “Treasury is announcing that it will suspend the sale of State and Local Government Series (SLGS) securities. SLGS are special-purpose Treasury securities issued to states and municipalities to assist them in conforming to certain tax rules. These securities count against the debt limit. The suspension of SLGS sales will commence on March 15, 2017, and continue until the debt limit is either raised or suspended. As in the past, it is likely Treasury will utilize additional extraordinary measures.”

The federal government will be able to keep going for a little while by implementing such “extraordinary measures”, but the Treasury cash balance is going to continue to dwindle and at some point a major squeeze is going to happen.

As things get tighter and tighter, the Trump administration will become increasingly desperate to get the debt ceiling raised.  As I wrote about yesterday, the key for Trump is going to be finding 218 votes in the House of Representatives that will be willing to go along with him.

You would think that since Republicans control the House that this should be easy, but the truth is that there are a lot of conservative Republicans that are not inclined to agree to a debt ceiling increase without substantial accompanying budget cuts.

The proposed budget that Trump released this week is getting a lot of criticism from the left for cuts to social programs, but the truth is that it actually doesn’t reduce the deficit at all

President Trump’s “skinny” budget blueprint for 2018 features a proposed $54 billion increase in defense spending and an equal number of spending cuts from the smallest part of the federal budget.

That means his changes won’t add to next year’s projected $487 billion deficit. But they won’t reduce it, either.

And remember, that “$487 billion” figure is just for show.  During the Obama years the U.S. national debt increased by an average of well over a trillion dollars a year, and that is almost certainly going to continue for years to come as long as the debt ceiling is raised.

Republicans are supposed to be the party of fiscal responsibility.

So now is their big test.

If they raise the debt ceiling and continue adding more than a trillion dollars a year to the national debt, they will lose all credibility with conservative voters on fiscal issues.

But if they try to force the federal government to start living within its means that is going to severely harm the economy in the short-term.

Donald Trump is going to have to try to figure out a way to navigate this crisis.  He has already promised that he will not touch Social Security and Medicare, and those are the two biggest drivers of our budget deficits.  In fact, it is being projected that entitlement spending and interest on the debt will eat up every single penny that the federal government takes in within 20 years.

So if Trump won’t touch the big entitlement programs, where will he possibly find enough cuts to satisfy the fiscal conservatives in Congress?

Without them, Trump does not have enough votes to raise the debt ceiling.

In addition, many of the conservatives in Congress absolutely hate the new Republican health care plan, and they hope to use this debt ceiling crisis as leverage to change the bill.

If Trump can’t work out something with conservatives, perhaps he could turn to the Democrats.  But most Democrats are extremely resistant to work with him on anything after all that has been said and done, and so for Trump to get a deal with them he would have to make extreme concessions.

This represents the biggest political test for the Trump presidency so far, and if we get down the road a couple of months and nothing gets done, this debt ceiling crisis could spark the kind of financial crisis that I describe in my novel entitled “The Beginning Of The End“.

Barack Obama pushed things right to the brink a couple of times, but he was savvy enough politically to never let things go over the edge.

Now it is Trump’s turn, and somehow he has got to find a way to get the debt ceiling raised without making extremely deep compromises that would gut the rest of his agenda.

And he had better get to work on this quickly, because time is running out and the clock is ticking…

 
  • HE WILL NOT DIVIDE US

    Collapse and rebuild….fiat needs to be backed by something with value. Americans will survive and make it truly great again. Debt is one of the worst things you can inflict on society.

    • William Lutz

      Unfortunately, politicians don’t acknowledge or agree with the facts you just claimed. They falsely pretend that we can thrive on weak paper backed currency and outstanding debt indefinitely.

      • Thebadguy

        Its only because they get power from that paper they peddle the favors and votes for that paper which gives them power nothing more nothing less! See how important they are if that paper goes to its real value ZERO!

        • socalbeachdude

          The US dollar is now INCREASING IN VALUE and that will be even more the case as interest rates rise in the months and years and decades ahead.

          • GSOB

            Supply of the #1 export increases also.

          • socalbeachdude

            The US does not export dollars at all.

          • GSOB

            The dollar is the #1 US export. Do your homework FRB boy.

          • socalbeachdude

            What utterly bogus and absurd nonsense.

          • GSOB

            I can tell you never served.

          • socalbeachdude

            I often serve shrimp and crab at my parties in my lovely home!

          • Dean

            Radioactive shrimp and crab

          • socalbeachdude

            There are no “radioactive” shrimp and crab.

          • FirstGarden

            Except from “Fuk-u-shima.”

          • jgibbsphd

            Uhh…WHAT? Wow, and all this time, all those trillions of FRN’s, paper, UST, digits, etc, have never left the country. So, when I see all those US FRN’s in the hands of people, corps and banks all over the globe, those aren’t what they are?

            Stop the presses. The next UST auction will not see anyone taking ownership of those? Man, I have to inform Ollie at Credit Suisse in London that his clients are not receiving actual US FRN’s. Which of course, technically they are not “dollars”, so ONLY from that deceptive point you are correct.

          • socalbeachdude

            The concept and reality concerning EXPORTS is that exports are GOOD AND SERVICES from one country to another with most of those exports being CONSUMED by the purchasing country.

            Unlike goods an services, CURRENCIES ARE NEVER CONSUMED BY ANYONE and FLOW THROUGHOUT ECONOMIES. The US dollar is the most important currency in the world and is used in more than 83% of all global transactions. Just because it flows around the world does not mean or imply that it is in any way an “export” of the United States.

            Whenever any party purchases US Treasuries DOLLARS FLOW INTO THE US TREASURY TO PAY FOR THOSE US TREASURIES and more than $7 trillion of NEWLY ISSUED US TREASURIES are created each year by the US Treasury. When they mature, the US Treasury PAYS THE HOLDER (OWNER) of those US Treasury and that money FLOWS OUT TO THE OWNERS in the US and around the world. More than $6 trillion of US Treasuries mature each year and are paid in full in US dollars by the US Treasury to their holders.

            As to actual EXPORTS, the USA is the second largest exporter in the world with most high-value-added goods and services and is a close second to China as the world’s leading export country.

          • GSOB

            Have you done your homework yet?
            The Petrodollar arrangement still is very much the pillar in play.
            Why do we witness that America is so interested in Israel?

          • Dean

            Israel a land flowing with Milk(Gas) and Honey(Oil).

          • GSOB

            Just dangle weapons, military aid and guaranteed protection from Israel in front of third world, oil-rich, Middle East nations…

            and let the bidding begin.

          • socalbeachdude

            Israel has practically NO OIL AT ALL.

          • Dean

            Not yet discovered.

          • socalbeachdude

            Oil and gas simply DO NOT EXIST in the puny little microscopic geographic territory of Palestine occupied by the State of Israel.

          • Dean

            Are you a geologist?

          • CASTIEL

            No…he is just a idiot 🙂

          • socalbeachdude

            Hardly, but that sure does describe YOU.

          • socalbeachdude

            Due to the massive plunge in the price of oil the trade of oil now accounts of less than 5% of all global economic transactions and 95% of all global transactions have NOTHING WHATSOEVER TO DO WITH OIL which totally blows up your nonsense about the so-called “petro dollar” which has NEVER HAD ANY IMPACT ON THE VALUE OF THE US DOLLAR and which is totally irrelevant today to the value of the US dollar which is soaring upwards and will continue to soar up to well above 120 on the DXY.

          • jgibbsphd

            Actually, it is now in decline. So much for that assumption.

          • socalbeachdude

            The US dollar is UP ABOUT 22% in value on the DXY since 2014 and will continue to rise very significantly on the DXY.

          • jgibbsphd

            Actually, its “value” has declined when based on REAL tangible assets. Go back and check the “value” of an FRN from 1913 to date, 1950 to date, 1970 to date, 2000 to date. Comparing a dollars “value” to other declining currencies is NOT a correct process and is deceptive and misleading.

            That is like comparing a 70 year old to an 80 and 90 year old and saying “he is still faster and stronger than everyone else” but conveniently leaving out the 20’s and 30 year olds from your comparisons.

            Deceptive!

          • jgibbsphd

            Obviously, you know nothing about the thousands of products directly related to oil and the many other thousands indirectly related. You speak in childish simplistic terms and miss the bigger picture/s. But, you do this in most of your postings, and it makes you look ignorant of real world economics.

          • jgibbsphd

            Whew! Talk about a long winded, self absorbed, loves to hear himself speak sociopath. Please go back a read what you wrote and then ask yourself, “Where did they get the ‘dollars’ in the first place to purchase those T’s?

            How about your own statement “are paid on full with US ‘dollars'”? Do those dollars, FRN’s, stay here or go our of country?

            A “dollar”, or truly an FRN, is a debt instrument, and that is the number one export of the USA- DEBT! We PRINT, or today TYPE, FRN’s into existence and export them by trading for goods, forced petro dollar, reserve requirements, etc, etc, and thus we create NOTHING but paper and ink, or electronic digits, and force the traders to accept this FRN DEBT. Thus we export DEBT in the form of “dollars”, FRN’s, and receive goods and services based on that DEBT EXPORT.

            This is no different then going to all my neighbors and forcing them to accept my hand written IOU in trade for their work and goods to supply my home and lifestyle, and thus I EXPORT debt by force (military) and receive their labor and possessions.

            Debt is an EXPORT denominated in FRN’s, dollars.

          • socalbeachdude

            US dollars – obviously – flow through the global markets as part of COMMERCE which is how anyone gets US dollars.

            US dollars are NOT part of trade numbers as they are NOT GOODS AND SERVICES but rather a CURRENCY that is used in 83% of all global transactions.

            The USA is the SECOND LARGEST EXPORTER of goods and services in the world and is a close second just behind the People’s Republic of China.

          • jgibbsphd

            Dollars, or FRN’s, are PURCHASED through exchanges, banks, etc,etc, and they are not only exchanged for goods and services. ever heard of the “Exchange Rate”. You are simple minded in your approach and lack understanding of deeper economics and real world business. It’s like trying to reason with a 3rd grader.

      • FirstGarden

        You have to wonder where they squirrel their nuts.

      • GSOB

        FIAT is a good car though, but FIAT currency is a bluff

        • socalbeachdude

          Absolutely false assertion.

          • GSOB

            Petro dollars = Petro wars, eventually, as it has already done. America consumes more oil than it produces and so her interest is to protect and maintain her lifestyle and permission to print her #1 export, to keep it all going.

            America has the upper hand and what will probably keep happening is that the booming debt system she produced for herself more than a hundred years ago will forge ahead with more debt, wars and lead as the father figure for the nanny world, it seeks to control.

            Perhaps you should run for POTUS?

          • socalbeachdude

            Absolutely false. There is NO SUCH THING AS “PETRO DOLLARS” and never was. The exchange value of the US dollar has appreciated upwards by more than 20% since 2014 which makes traveling abroad much less expensive in most countries and it has soared over the past year against the UK pound in particular.

            There is no such thing as the “petrodollar” and oil only accounts for LESS THAN 7% OF GLOBAL TRADE in which the US dollar is used and total transactions in US dollars accounts for more than 83% of all global trade.

            Oil can be and is purchased by countries in currencies other than US dollars and the most common currency other than the US dollar that oil is traded in is the EuroZone Euro.

          • GSOB

            You are totally clueless. You should do your homework FRB boy

          • socalbeachdude

            Thank you for describing YOUR extreme cluelessness so very perfectly.

          • GSOB

            The petrodollar system has proven tremendously beneficial to the U.S. economy

          • socalbeachdude

            Laughably and totally false. There is no such thing at all as a “petro dollar” system and never was. Oil accounts for LESS THAN 5% OF THE USE OF THE US DOLLAR and is totally irrelevant to the US dollar and its value.

            The so-called “petrodollar” is irrelevant – Steve Saville

            A recent article posted at Casey Research trumpets the view that the petrodollar system is on its last legs and that when it dies — quite possibly in 2017 — it will be a massively disruptive event for the US economy and the financial world, leading to an explosion in the gold price. The reality is that the so-called “petrodollar” is probably not about to expire, but even if it were the economic consequences for the US and the world would not be dramatic.

            According to the “petrodollar system” theory, an agreement was reached in 1974 between the governments of the US and Saudi Arabia for the Saudis to do all of their oil transactions in US dollars and influence other OPEC members to do the same. In return, the US government vowed to support and protect the Saudi regime. Also according to this theory, the US economy benefits because the pricing of oil in US dollars creates additional global demand for US dollars and US assets.

            The agreement might have happened, but there is no good reason that it would still be in effect. Considering the popularity of the US dollar in global trade and the size of the US economy, an agreement between the Saudi and US governments would no longer be required to entice the Saudis to price their oil exports in dollars. It would be inconvenient for them to do otherwise.

            In any case, even if the “petrodollar” agreement happened and remains in effect to this day it would not be of great importance. The reason is that the international trading of oil accounts for only a minuscule fraction of international money flows.

            http://www.24hgold.com/english/news-gold-silver-the-petrodollar-is-irrelevant.aspx?article=10558437950H11690&redirect=false&contributor=Steve+Saville&mk=1

    • socalbeachdude

      All currencies including the US dollar are backed by the current and future assets and labor and productivity of the people of the country issuing the currency which is vastly more valuable than some little commodity thingy like beaver pelts, bird feathers, glass beads, silver, gold, or whatever which are just little niche commodities of very little value relative to the size of today’s assets and economies.

      • GSOB

        Now that’s really funny

        • socalbeachdude

          Where do you come up with such clueless nonsense and utterly inane notions? There is no such thing as the “petro dollar” and a recent article makes this crystal clear – just as I have stated many times – and I would suggest you read and attempt to comprehend it.

          The so-called “petrodollar” is irrelevant – Steve Saville

          A recent article posted at Casey Research trumpets the view that the petrodollar system is on its last legs and that when it dies — quite possibly in 2017 — it will be a massively disruptive event for the US economy and the financial world, leading to an explosion in the gold price. The reality is that the so-called “petrodollar” is probably not about to expire, but even if it were the economic consequences for the US and the world would not be dramatic.

          According to the “petrodollar system” theory, an agreement was reached in 1974 between the governments of the US and Saudi Arabia for the Saudis to do all of their oil transactions in US dollars and influence other OPEC members to do the same. In return, the US government vowed to support and protect the Saudi regime. Also according to this theory, the US economy benefits because the pricing of oil in US dollars creates additional global demand for US dollars and US assets.

          The agreement might have happened, but there is no good reason that it would still be in effect. Considering the popularity of the US dollar in global trade and the size of the US economy, an agreement between the Saudi and US governments would no longer be required to entice the Saudis to price their oil exports in dollars. It would be inconvenient for them to do otherwise.

          In any case, even if the “petrodollar” agreement happened and remains in effect to this day it would not be of great importance. The reason is that the international trading of oil accounts for only a minuscule fraction of international money flows.

          http://www.24hgold.com/english/news-gold-silver-the-petrodollar-is-irrelevant.aspx?article=10558437950H11690&redirect=false&contributor=Steve+Saville&mk=1

          • GSOB

            And I suppose Jesus isn’t real either, to you.

          • socalbeachdude

            Jesus of Nazareth is a historical figure from around 2000 years ago with no relevance whatsoever to the current US government issues in this article.

          • GSOB

            Thanks for proving my point, grasshopper beachhead, FRB boy.

          • socalbeachdude

            Huh? Get your head out of a 2000 year old obsolete book and go read the Federal Reserve web site and actually learn something at:

            http://www.FederalReserve.gov

            Then go read the US Treasury web site and learn about US Treasuries at:

            http://www.TreasuryDirect.gov

          • GSOB

            I’ll lift you up in prayer. May God have mercy on your soul.

          • socalbeachdude

            I’m not worried about my “soul,” but your continued utter ignorance and delusion are rather disconcerting.

          • GSOB

            Flag me or take a hike or…. better yet, Read Romans Chapter 8 and come back to me if you are willing.

          • socalbeachdude

            There is nothing about the USA or the Federal Reserve in that book that was written 2000 years ago as the USA only came about 241 years ago and the Federal Reserve is only 104 years old.

          • GSOB

            Nevertheless, the Word of God, it can save your soul. Have you heard the word? It’s a soul salvation.

          • SnodtBlossom

            socalbeachdude is the best poster on the board

          • socalbeachdude

            Thank you!

          • GSOB

            Next to you

          • SnodtBlossom

            there is no god

          • SnodtBlossom

            Jesus is a dead man

          • FirstGarden

            You will be dead before you know it.

            Life is not a joke.
            It behooves any thinking person to examine all the evidences life presents before rushing to rash conclusions.

            Some of the very greatest minds in human history attest to the power and reality of Christ’s resurrection. Find out why.

      • CASTIEL

        Thats the most stupid thing i ever heard……Gold is irrelevant in your opinion……..You are indeed a ignorant…..

        • socalbeachdude

          The total value of all of the 180,000 or so metric tonnes of gold ever mined – even at today’s preposterous elevated levels for that fungible commodity – is less than 1% of all of the assets in the world and 70% of all gold is in the form of privately held jewelry widely distributed among the 7.5 billion people of the world. As a financial asset, gold is totally irrelevant and just a tiny little speck of dust.

    • K2

      Debt is the only way the current global economy can expand. Here is why…

      The global economy needs to ‘expand’ in order to create jobs to meet the rising needs of an ‘expanding’ population. And because people the world over are breeding like pigs and the global population is expanding at the rate of a billion every thirteen years, the global economy needs to expand too in order to create jobs for said people. And you cannot expand it using gold/silver or beaver pelts like the dude said as they are limited in supply. You need fiat. And you cant just ‘print’ fiat how much ever you want without it losing its value. So it has to be injected into the economy in the form of debt.

      In earlier times, the human population was relatively stable more or less. So gold/silver was enough to run the global economy then.

      • socalbeachdude

        Well, then, the GLOBAL ECONOMY CANNOT EXPAND AND MUST THEREFORE CONTRACT VERY SIGNIFICANTLY and that is precisely what will happen as further debt is simply NOT AN OPTION AT ALL for the global economy.

        • GSOB

          The skunk dead in the road is affordable health care. Sounds good.
          Further in debt every hour….
          With interest….

          • socalbeachdude

            The biggest barrier to “affordability” for medical expenses in the USA is the massive and egregious PRICE GOUGING going on in the hospital and pharmaceutical industries and that is what needs to be stopped ASAP.

          • GSOB

            Maintaining the petrodollar system is the American empire’s primary goal.

          • socalbeachdude

            Laughably false. There is no “petro dollar” system at all.

        • K2

          What are you talking about? The global economy is already expanding by 2.5% ever year

      • Dan Wingert

        The more dollars they print, the more they are worth.

        • K2

          Its only with the dollar that it is the case, because other countries are stocking it up. So it is rising not because it is being printed more, it is rising despite it being printed more.

          Usually a currency falls in value the more it is printed.

  • James

    US will just pile on more debt to a point when no one wants to buy it anymore and simply DEFAULT! This is the greatest theft in human history as money from all over the world (imagine all foreign reserves) and even from our future generations are used to foot the bill of corruptions and personal gains.

    • socalbeachdude

      No, there is absolutely ZERO CHANCE of the US government ever defaulting on its government debt which must be paid on a FIRST DOLLAR BASIS from US government revenues which now exceed $3.2 trillion.

      • Clemenzza

        Right. They will just print more money and pay it back with dollars that in the end won’t even be worth wiping your azz with. Default or payoff with Monopoly money, either way, in the end the American public is phuuucked.

        • socalbeachdude

          Thank heavens the US government cannot and does not print or otherwise create US dollars, as that job was very wisely delegated more than 100 years ago to the Federal Reserve which most certainly WILL NOT PRINT US DOLLARS and is in fact engaging in a SIGNIFICANT TIGHTENING OF CREDIT at this stage.

          • Clemenzza

            Technically, that is correct. So what the federal government does his issues debt, the federal reserve buys the debt, likely have for the past eight years. The feds then take those dollars and pay back the payments that are due to service the current treasury instruments outstanding. QED the dollars get into the system by hook or crook.

          • socalbeachdude

            Absolutely false, and the Federal Reserve does no such thing at all and what they do print is not loaned to the federal government at all in excess amounts. The Federal Reserve only owns about 14% of the outstanding $20 trillion in US Treasuries with total US Treasury holdings of about $2.5 trillion and is now REDUCING THAT LEVEL ON ITS BALANCE SHEET. There is no “blank check” whatsoever from the Federal Reserve for US government spending and whatever the federal government incurs in debt MUST BE BORROWING THROUGH THE ISSUANCE OF US TREASURIES which is what is directly affected by the federal debt ceiling limit.

          • GSOB

            …….”and the Federal Reserve does no such thing at all and what they do print is not loaned to the federal government at all in excess amounts”……

            A bogus distinction…. attempting to persuade or convince that nothing wrong is going on, but just a simple fostering of a federal government line of credit, and ultimately, footed by the taxpayer. How ignorant and / or naïve can a socialist possibly get?

          • socalbeachdude

            The Federal Reserve does not do what you assert at all and only owns about $2.5 trillion of the US government debt (US Treasuries) and REBATES 94% OF ITS ANNUAL PROFITS EACH YEAR TO THE US TREASURY which makes the interest on those US Treasuries totally interest free to the US Treasury and the taxpayers of the USA.

      • FirstGarden

        Have you taken seriously the prospect that the US could lose its status as the world’s currency reserve?

        • socalbeachdude

          There is not even the slightest chance as to that and the US dollar is by far the most important currency in the world and is used in more than 83% of global transactions in addition to being the main “reserve currency” of the world. If anything higher yields (Interest rates) on US Treasuries will STRENGTHEN THE VALUE OF THE US DOLLAR ahead.

          • Spatial Memory

            Rotflmao

          • GSOB

            LOL

        • GSOB

          Yes it very well could, as a judgment from the most Holy God.

    • jakartaman

      I do not see it that way -WE are all responsible
      Most everyone is living on Dept.
      We have been drunkin sailors

  • William Lutz

    Once again, I DO NOT support an increase in the debt ceiling. I don’t mind what the repercussions would be if the borrow limit is not raised. We simply can’t afford to keep on spending like crazy. I side with the conservatives in this case among a few other things.

    Also, why is he spending more on defense? Isn’t our military enormous enough already? Fine, cut social security and Medicare, but please don’t be picking winners and losers by means of funding.

    • Thebadguy

      That repercussion would be death for millions! I don’t like it either but if they try to cut the expenses we are going to blow up! Either way its bad very bad!

      • William Lutz

        Well, it would be better if it happens this year, or ASAP. That way, it would be Obama’s fault instead of Trump’s. Americans also need to be given a wake up call.

        • FirstGarden

          They’ll find a way to blame Trump. Or Bush. But never Obummer.

          • socalbeachdude

            Oh, “they” will certainly try, but that BS certainly will not stick at all.

          • William Lutz

            Bush should receive the blame too. Bush got us into a trillion dollar war.

          • socalbeachdude

            Both Bushes.

      • William Lutz

        And I don’t care if it means civil unrest or mass casualties. I’m feeling the pain and I’m ready for whatever comes.

        • ALWAYSTOMORROW

          Getting a job might help lessen your pain.

          • William Lutz

            That’s what I’m trying to do. I already have a seasonal summer job, but I’m looking for additional employment.

            You know this government disaster is affecting all of us. It impacts the way you work, shop, travel, etc. This ongoing crisis haunts me on a regular basis.

          • ALWAYSTOMORROW

            I use to tell my daughter that no matter what undesirable situation you find yourself in, find a way to take some if not all of the blame.

            If something is all or part your fault, then you have the power to change it and fix it.

            If your circumstance is because of someone else (“government disaster”) and you have no control over it, then you are a powerless victim.

            Best of luck with your job hunting.

      • socalbeachdude

        Not death at all, but far fewer iPhonies and Michael Jordan Nike sneakers for many!

  • aldownunder

    ‘ In 1898, delegates from across the globe gathered in New York City for the world’s first international urban planning conference. One topic dominated the discussion. It was not housing, land use, economic development, or infrastructure. The delegates were driven to desperation by horse manure.’

    Horse Power to Horsepower, by Eric Morris

    Seems like it’s still a problem

    • socalbeachdude

      Federal government debt has been a pressing problem for the past 240 years since 1776 and the last year in which there was any budget surplus was in 1956 which was 61 years ago.

      • aldownunder

        According to Eric Morris:

        ‘ The situation seemed dire. In 1894, the ‘Times’ of London estimated that by 1950 every street in the city would be buried nine feet deep in horse manure. One New York prognosticator of the 1890s concluded that by 1930 the horse droppings would rise to Manhattan’s third-story windows. A public health and sanitation crisis of almost unimaginable dimensions loomed.’

        • socalbeachdude

          Yes, indeed! Every time it is more dire than the last! At some point, however, federal government debt reaches absolutely catastrophic proportions and that point was reached around 1981 which was about 36 years ago.

          • aldownunder

            Who wants to ‘pick up pennies in front of a steamroller’?
            Not me.

          • socalbeachdude

            Do you know it now costs 1.5 cents each to make a 1 cent penny? We should start issuing plastic pennies!

          • FirstGarden

            Or discontinue them altogether as they did the ha’ penny in days gone by.

          • Paul Patriot

            I have read that the same thing is happening h the nickel, costs more to produce than it is worth.

          • socalbeachdude

            True. The US should stop making any coins with metallic content and make all coins with PLASTIC and HOLOGRAMS.

        • aldownunder

          The ‘piles of poop‘ forecast is known as ‘extrapolation’ — taking an established trend and projecting it into the future. The problem with extrapolation is that an unforeseen disruptor can change the trend, making forecasts look silly to future generations.

          • socalbeachdude

            That really doesn’t work with debt, particularly when it is in the trillions of dollars. Global debt is now nearly $220 trillion and US debt is around $67 trillion of which $20 trillion of that is US government debt – but the US money supply is only around $3 trillion in M1 and around $13 trillion in M2, so we appear short a few tens of trillions of dollars…

          • FirstGarden

            I’ve seen higher figures. What about exposure to the derivatives market?

          • socalbeachdude

            That’s an interesting question to which I do not know the answer. The derivatives market includes everything from “simple” standard futures to enormously complex “synthetic derivatives” bets on derivatives and is so opaques on unregulated that nobody really knows or can quantify what really lurks there, let alone who ends up holding the bag (counter parties) on the notional values which are towards the $1 QUADRILLION range according to the BIS (Bank for International Settlements) which is the central bank of central banks.

          • L. A. McDonough

            And I am the future generation that my parents generation and their so called experts who wrote books and newsletters in the 60’s on, predicted this country would collapse by the mid 80’s, and globalists would then have a world gov.

          • socalbeachdude

            Well, obviously that hasn’t happened!

          • JC Teecher

            it has, and they have. it just hasn’t been uncovered yet.

            The blanket of debt on one side and the blanket of prosperity, on the other; is all that there is between the collapse, globalists grip on world affairs, and the reality of it all having happened in 2008, when we put a muzzy/homo/baby killer, in the people’s house .

            this Trump potus term, or terms, if God is willing, will only be a blip on the radar screen of world history, that will be for people to look back and say,

            “wtf, I could have gotten myself in position to handle this collapse and world order/globalist, business, (during the Trump years) if I had only been able to see the forest for the trees, and planned, adjusted, and prepped. Now the bank has my house and car. My pension has been used for a bank bail-in. My family of five has no food, and we are living under a bridge in cardboard boxes, and begging for food scraps everyday. We are hunters and gatherers. But, not much to hunt and gather, except chicken bones from preppers, so we can make pity soup.”

      • GSOB

        The Saudi royal family knew a good deal when they saw one. They were more than happy to accept American weapons and a U.S. guarantee to restrain attacks from neighboring Israel.

        • socalbeachdude

          And what on earth does that assertion have to do with my comment above?

          • GSOB

            Japan, for example, is an island nation with very few natural resources. It must import large amounts of commodities, including oil, which requires U.S. dollars.

            So Japan manufactures a Honda and ships it to the United States and immediately receives payment in U.S. dollars.

          • socalbeachdude

            OK, true, but so what? That’s just how global trade works, but oil accounts for LESS THAN 5% OF GLOBAL TRADE.

          • GSOB

            Russia is leading the charge away from the Petrodollar

          • socalbeachdude

            Once again, there is no such thing as the “petro dollar” and as to Russia they are not a member of OPEC and are one of the largest oil producers in the world and a free to price oil in whatever currencies they want to. Russia is only a $2.4 trillion a year economy which is smaller than the economy of California, so whatever Russia does has little affect on the oil markets and absolutely no affect on the US dollar.

          • GSOB

            No such thing…..?

          • socalbeachdude

            NO SUCH THING.

  • socalbeachdude

    HISTORY OF THE FEDERAL DEBT LIMIT (DEBT CEILING)

    The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be issued by the US Treasury, thus limiting how much money the federal government may borrow. The debt ceiling is an aggregate figure which applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts.

    Under Article I Section 8 of the United States Constitution, only Congress can authorize the borrowing of money on the credit of the United States. From the founding of the United States until 1917, Congress directly authorized each individual debt issued. To provide more flexibility to finance the United States’ involvement in World War I, Congress modified the method by which it authorized debt in the Second Liberty Bond Act of 1917. Under this Act, Congress established an aggregate limit, or “ceiling,” on the total amount of new bonds that could be issued.

    The present debt ceiling is an aggregate limit applied to nearly all federal debt, which was substantially established by the Public Debt Acts[4][5] of 1939 and 1941 which have subsequently been amended to change the ceiling amount.

    http://en.wikipedia.org/wiki/United_States_debt_ceiling

  • socalbeachdude
  • socalbeachdude
  • aldownunder

    ‘There are decades where nothing happens, and then there are weeks when decades happen
    Vladimir Lenin

    When this market does explode, investors are going to see decades of gains blown away in a very short space of time.

    • jakartaman

      The population/climate change goes away
      silver linings

  • socalbeachdude

    The pressing problem now with the federal debt ceiling again activating is that in early November 2015 when the debt ceiling was reached and breached despite extraordinary measures (plundering around $400 billion from March 2015 into November 2015 from the US postal workers pension funds) is that Congress only approved the suspension of the federal debt ceiling up to March 15, 2017.

    Now, that day has come and gone and the US Treasury is nearly out of money to operate despite record tax revenues and needs to issue more than $1 trillion in net new US Treasuries in addition to the $6 trillion a year in new US Treasuries it always issues these days to pay off the Treasuries that mature to their holders – but the US Treasury NOW CAN’T ISSUE ANY MORE US TREASURIES because of the federal debt ceiling limit once gain become applicable.

    The easiest way to avoid any problems now is to play the KICK THE CAN DOWN THE ROAD GAME just like Congress has done for the past 36 years since the federal government debt reached $1 trillion. Congress can accomplish this by simply voting 1) to suspend the federal debt ceiling once again for anywhere between 1 year and perpetuity, or 2) increase the federal debt ceiling to some amount between $24 trillion and $100 trillion which should suffice to delay dealing with the issue for at least a few years, or 3) start seriously cutting the absurdly excessive federal government spending (I would suggest rolling it back across the board to 2007 levels of $2.7 trillion versus today’s $4 trillion).

    Any one of those three approaches will work to take the issue of the federal government not being able to issue further US Treasuries off the table for a while. I strongly prefer option door number 3.

    • Clemenzza

      Correct. The bad part is that the courage to do that has not been in Washington for over 50 year.

      • socalbeachdude

        Will it return with Donald Trump as President? That’s the huge question of year!

        • GSOB

          To little, too late

          • socalbeachdude

            We’ll have to wait and see how the Presidency of Donald Trump unfolds. He’s only been in office for 2 months.

          • GSOB

            We all got your number.

          • socalbeachdude

            What “number” would that be?

          • Dean

            322

          • GSOB

            0.25%

  • Mark

    Snoddy ist selbstmörderisch, suche Hilfe, während du immer noch kannst

  • socalbeachdude
    • Clemenzza

      This Washington post???? Want to buy a bridge?

      Even with a landslide, Hillary Clinton shouldn’t count on a mandate

      By Kristen Soltis Anderson October 28, 2016

      • socalbeachdude

        Yes, that Washington Post owned by Jeffie Bozo which should be renamed the “Attack Trump Post” as that is all has been doing for the past nearly 2 years making an utter fool out of itself and propelling itself to the very top of FAKE NEWS in print rivaled only by the VERY WORST New York Slimes owned by Mexican Carlos Slim which should be called the New York Mexico Slimes and which still edges out the Attack Trump Post for fake news!

        • Cinderella Man

          You talk out of both sides of your mouth. Why don’t you start your own blog for flakes and split personalities?

          • socalbeachdude

            Huh? Everything I state is totally consistent. Where do you come up with such nonsensical and bogus assertions?

          • SnodtBlossom

            Dirtbag#1.. GET A JOB!

          • Mark

            Get a life, besides the suicidal one you are living. Please, really, get some help before its too late.

          • socalbeachdude

            Laughably false.

  • socalbeachdude

    Trump’s ‘America First’ budget: President promises ‘a new chapter of greatness’ as he wields the ax across government to pay for the wall and the military

    President Donald Trump’s first budget blueprint, out this morning, lived up to the administration’s promise that it would be a ‘hard power’ document, slashing spending in every federal department except Defense, Homeland Security and the VA.

    Trump’s proposal makes significant cuts to the Health and Human Services’ and the State Department’s budgets to fund his border wall and the military build-up he’s been promising.

    State is being slapped with a nearly 29 percent reduction that’s intended for its foreign aid division, a 10.9 billion dollar decrease from the current fiscal year. HHS will lose out on $15.1 billion in funds, a 17.9 percent overall decrease, if Trump’s budget is approved in its current form by Congress. Trump is proposing the dramatic cuts to some agencies so he can put $2.8 billion more toward immigration enforcement in 2018, $2.6 billion of which is being set aside for his border wall, and appropriate an additional $54 billion to defense spending without adding to the federal deficit.

    http://www.dailymail.co.uk/news/article-4319866/Trump-calls-cuts-pay-wall-defense.html

    • GSOB

      LOL

      • socalbeachdude

        That article is 100% correct as what it stated.

        • GSOB

          Why do you feel the need to press on with the FRB stuff when you get such impressive feed back, direction and instruction?
          Can the FRB really make things better? NO – but, in your darkness and denial, and servitude to mammom,…. you keep stoking the fire with FRB information, as if that is the solution to America’s booming system of debt.

          • socalbeachdude

            Only from extremely ignorant dolts like you who are so totally clueless that you do not comprehend the Federal Reserve at all. I would suggest you learn about the Federal Reserve on its excellent web site at:

            http://www.FederalReserve.gov

            Moreover, that article you attempted to ridicule above had NOTHING WHATSOEVER to do with the Federal Reserve but rather with Donald Trump’s proposed budget for Fiscal 2017 federal government spending.

          • GSOB

            You probably can swim without water too, huh?

          • socalbeachdude

            How did you ever get to be so clueless?

          • GSOB

            Join the discussion…

    • ISA41:10

      The Constitution calls for a strong military.

      NOTHING else

      • Bob McGillicuddy

        Yeah, except for that pesky phrase “provide for the general welfare” of its citizens.

        The preamble to the U.S. Constitution cites promotion of the general welfare as a primary reason for the creation of the Constitution.

        It’s tough to find anyone–well, anyone other than a libertarian–who thinks letting Americans die of hunger or go bankrupt because of health problems is *not* a gross violation of the general welfare clause.

        Sending a trillion dollars a year to the military-industrial complex may charade as “defense” but there is no life, liberty or pursuit of happiness when you’re broke or dead.

  • FirstGarden

    Sowing and Reaping.
    Cause and Effect.
    Sooner or later,
    Someone has to pay the piper.

    Sooner = disastrous.

    Later = ___________ !!!

  • socalbeachdude

    MUCH HIGHER INTEREST RATES ON US FEDERAL DEBT

    Get Ready for a “Credit Implosion” – Justin Spittler

    The world’s biggest financial bubble just popped. We’re talking about the bond market. This is where companies and the government borrow money. It’s about twice as big as the stock market. In other words, it’s a key pillar of the global financial system. And it’s starting to give way.

    Last summer, bond yields started skyrocketing. The yield on U.S. 10-year Treasurys is now twice as high as it was last July. But you have to realize something… Bond yields rise when bond prices fall.

    In January, Gross wrote that the bond bull market would end when the yield on the 10-year Treasury topped a key level, and stated “If 2.60% is broken on the upside—if yields move higher than 2.60%—a secular bear bond market has begun. Watch the 2.6% level. Much more important than Dow 20,000. Much more important than $60-a-barrel oil. Much more important than the Dollar/Euro parity at 1.00.” According to Gross, the bond bull market is now officially over. A “secular” bear market has begun. This means bond prices could fall for years, even decades.

    http://www.caseyresearch.com/articles/get-ready-for-a-credit-implosion

  • FirstGarden

    The ugly truth about America’s spending
    Will we be adults or children?
    By Richard Manning Published March 17, 2017

    Oh the humanity, Trump is killing Big Bird.

    The world is in danger of climate destruction, Trump is ending payments to the Green Climate Fund that pays off foreign governments to support radical environmental proposals under the false flag of global warming.

    The world is on the brink of chaos as the United States contribution to the United Nations is cut to the same level as every other Security Council member pays.

    Here is the ugly truth.

    We are twenty trillion dollars in debt. We have hit the debt ceiling and the federal government is taking what is called “extraordinary measures” to keep us solvent until Congress either balances the budget at current levels or raises the ceiling again.

    Of the debt, more than a quarter of that money is owed to ourselves through IOUs issued to the Social Security and Medicare Trust Funds, the Federal Reserve and other intergovernment entities, about 32 percent is owed to governments around the world, including approximately $1.1 Trillion to the government of Japan and $1 Trillion to China, and the remainder is owed to private banks and individual investors in everything from savings bonds to mutual fund holdings of government Treasury bills.

    And the situation is not getting better.

    The Congressional Budget Office reports that overall federal government spending has increased by approximately $1.13 Trillion over the past decade, while tax revenues have increased by $699 Billion with the result being a more than doubling of our national debt during the previous ten years. To make matters worse, while the national debt has been skyrocketing, our nation’s economy has not grown by more than 3 percent since 2005 which used to be considered normal growth, causing our overall debt to GDP to increase to an unsustainable 107 percent.

    Fortunately, we currently enjoy historically low interest rates, keeping total interest payments on the debt at a mere $433 billion, a number which dwarfs every discretionary budget expenditure except defense and is about 70 percent of the Pentagon budget. The most alarming part of our nation’s interest costs, is that they are completely dependent upon demand for our government debt on the open market.

    A January 2017 report by the Congressional Budget Office projects, “Because of rising interest rates and, to a lesser extent, growing federal debt held by the public, the government’s interest payments on that debt rise sharply over the next 10 years—nearly tripling in nominal terms and almost doubling relative to GDP.”

    Add into this mix, the fact that our military has been stretched well beyond its capacity to fight a two-front war, strained from more than fifteen years of constant war fighting and political choices to defer development of big ticket items like a replacement for the nuclear weapon carrying Ohio class submarines even though the existing fleet is reaching the end of its effective life, and the only rational choice is to aggressively cut the discretionary budget now.

    And that is what President Trump is proposing, difficult, but doable budget cuts beginning the process of reflecting the needs of the nation, not just the wants.

    One of the big differences between and adult and a child is that a child cannot distinguish the difference between a want and a need. But America can no longer afford to be fiscal children.

    As the projected growth of interest payments on the debt threatens to crowd out other spending priorities, the time is now to change our nation’s spending habits with a recognition that the current debate on the discretionary budget only covers one-third of federal government spending.

    The big battle for our nation’s economic security lies in how we are going to fix so-called “entitlement spending” which is untouched in the President’s budget outline, along with whether we will choose to lower our highest in the world corporate tax rate that stifles economic growth, job creation and overall tax collections.

    However, any hope we have to comprehensively change our fiscal spiral to insolvency will be determined by Congress’ reaction to the President’s budget proposals. If they ignore the combined challenge of a need for expensive military upgrades at a time when our deficits provide an existential threat to our nation, interest payments on the debt alone will dictate draconian choices in the near future.

    America simply can no longer afford to pretend that we can continue on the current path, President Trump’s budget is a good starting point on our national decision of whether we are going to be adults addressing our nation’s true needs or children disconnected to the looming debt crisis.

    It is that simple.

    Richard Manning is president of Americans for Limited Government.

    • socalbeachdude

      Very correct, highly detailed, and excellent analysis. A+

  • FirstGarden

    Do you hear waves washing up on the Cayman Islands?

  • socalbeachdude

    “This Is Not The Reaction The Fed Wanted”

    With stocks soaring briskly around the globe following Yellen’s “dovish” hike, and futures set for a sharply higher open with the Nasdaq approaching 6,000, something surprising caught our attention: in a note by Goldman’s Jan Hatzius, the chief economist warns that the market is over-interpreting the Fed’s statement, and Yellen’s presser, and cautions that it was not meant to be the “dovish surprise” the market took it to be. Specifically, he says that while the FOMC delivered the expected 25bp hike, with only minor changes to its projections. “surprisingly, financial markets took the meeting as a large dovish surprise—the third-largest at an FOMC meeting since 2000 outside the financial crisis, based on the co-movement of different asset prices.”

    Even more surprisng is that according to Goldman, its financial conditions index, “eased sharply, by the equivalent of almost one full cut in the federal funds rate.” In other words, the Fed’s 0.25% rate hike had the same effect as a 0.25% race cut!

    The implication from the market’s reaction is that at current levels, financial conditions are poised to make a substantial positive contribution to growth in 2017, from a starting point of essentially full employment, inflation close to the target, and a sub-1% funds rate; which in light of concerns about an economic overheating due to Trump’s fiscal policies is precisely the opposite of what Yellen wants. Hatzius warns that “the FOMC will lean against this, and will deliver more monetary tightening than discounted in the bond market.”

    http://www.talkmarkets.com/content/us-markets/this-is-not-the-reaction-the-fed-wanted-goldman-warns-yellen-has-lost-control-of-the-market?post=126876

    • FirstGarden

      Old Yellen
      Come back Yellen
      Best doggone dog
      In the West.

      • socalbeachdude

        The Federal Reserve 12 member FOMC (Federal Open Market Committee) in charge of policy including the only 3 interest rates set by the Federal Reserve have been a bunch of cowards and total wusses when it comes to their proper job of matching the Federal Funds Rate to the yield (interest rate) on US Treasuries and are now caught blindsided by the fact that yields on 10 year US Treasures have literally DOUBLED since last July and have no choice but to move aggressively now in bring up the only 3 interest rates set by the Federal Reserve without any further dawdling or delay – or they face losing all credibility as to Federal Reserve interest rate policies.

        • GSOB

          Very, very, funny.

          • socalbeachdude

            What I stated is 100% true and correct.

          • GSOB

            You think so? I think it’s very, very funny.

          • socalbeachdude

            If you don’t comprehend exactly what I stated then you are hopeless lost in a sea of total delusions.

          • GSOB

            You are the one without hope. You worship mammon and the Fed Reserve. You have no hope to offer anyone except your own FRB delusions.

          • socalbeachdude

            Hardly, but that sure describes YOU. Sad.

          • GSOB

            You boast in the FRB. You assume that it is an entity that has not contributed at all to the current fiasco. You are about as pleasant and desired as a silencer in a crowded elevator.

          • socalbeachdude

            The Federal Reserve is a superb central bank and has done an outstanding job as the central bank of the USA for the past 103 years and will continue to do so.

          • GSOB

            The petrodollar system allows the U.S. to buy oil with a currency it can print at will

          • socalbeachdude

            The US government cannot and does not create a single US dollar unless it is ordered through the Bureau of Printing and Engraving for delivery to the Federal Reserve.

            The most egregious money printer in the world – by far – is the People’s Republic of China which has printed an unprecedented $34 trillion of renminbi (RMB / yuan) over the past 10 year increasing the money supply of China from less than $3 trillion to more than $34 trillion in 2017 – despite the economy of China being half the size of the US economy.

            By extreme contrast the US money supply stands in 2017 at only around $3 trillion in M1 and $13.5 trillion in M2 to support an $18 trillion a year US economy plus the global use of the US dollar for which the use for any oil transactions is only about 5% and therefore irrelevant.

          • GSOB

            You need to re-examine the history of the petrodollar. But I do see some loosening of your rigid stance about the government, that it don’t print money, by saying they authorize it. ….. Well (duh!)

            It’s about time you come around and start to connect the dots.

            Yet…. on the other hand, to say the petrodollar does not exist or never has existed is proof that you often swim in a bottle.

            The message in the bottle is that it does continue to exist, like a hangover.

          • socalbeachdude

            There is no “petro dollar” and no history of the petro dollar.

      • Seen2013

        lmao, I guess that she’ll be fired/resigned.

        • socalbeachdude

          A Federal Reserve Board Member cannot be fired and Janet Yellen is certainly not considering resigning at all.

          • GSOB

            That’s why Yellen is jellin

  • Mark

    Snoddy ist selbstmörderisch. Holen Sie sich Hilfe, während Sie noch können.

  • Mark

    Snoddy nyaéta suicidal. Meunangkeun pitulung bari Anjeun masih bisa

  • Mark

    Snoddy es suicida. Obtenga ayuda mientras pueda

    • GSOB

      Speak English

      • Mark

        Snoddy is suicidal, get help while you still can. Snoddy likes to use other languages to show its intelligence.

    • SnodtBlossom

      look at Mark’s cheap attempt at getting attention

      • Mark

        Hillary Clinton to “Clinton Correctional Facility” 2017. Lock her up, Lock her up, Lock her up!

      • Mark

        Hillary Clinton to “Kwan-Li-So No. 22” 2017. Lock her up, Lock her up, Lock her up!

      • Mark

        Get a “Better Job” DirtBox#1

      • Mark

        If it will help you get help for your suicidal tendencies than so be it. Really Snoddy, Really, don’t pretend that you are not suicidal, this is serious now. Go get some help before its too late. Having that god syndrome/complex is truly hard to live up to.

        • Mark

          Hellary Rotton Cunton to “Butyrka” 2017. Lock her up, Lock her up, Lock her up!

  • tacoma

    There is not much to worry because the Debt Ceiling is a game of numbers. The U.S. government can borrow an infinite amount of money in theory, and it has done so in practice. This is why while it is trillions upon trillions of dollars in debt, the country has not exploded, the politicians are still enjoying their wars, all their benefits intact. Everything still get paid, Wall Street is still laughing, and the military is enjoying their fiscal ’18 budget of a most splendid $850 billion dollars.

    Look, part of the game is, at the right moment all the politicians will cry on TV. Then, with croc tears still dripping, they will vote to raise the Debt Ceiling. The game continue.

    What Trump has done in the meantime is to play his game to screw everybody (but never himself of course). He is giving the military a whopping 9% increase in money (since the U.S. military is in such poor shape and the generals are crying big time). 9% is $54 billion more, which is the entire defense budget of the EU!! I guess rest of NATO told Trump not a dime more on defense so he has to come up with the extra money to sustain Cold War 2 on Russia. Even a new Korean War on Evil Kim and Nasty Xi. What the generals want the general get, always.

    But Trump is cutting everything else big time, to pay for the Pentagon extra $54 billion. If you voted for Trump thinking of his promises, he just killed all of them. He is giving the big money to the generals, who do not even vote!!

    So let me rephrase Trump famous cry to Make America Great Again:

    Trump at inauguration: From Now On, It’s America First Only!!
    Trump today: From Now On, It’s America Military Empire First Only!!

    • socalbeachdude

      No, the US government cannot issue any more US Treasuries to borrow any money now that it has reached the federal debt ceiling limit which is precisely what that limit means.

    • GSOB

      You must be a democrat

  • Paul Anders

    As long as we can find Billions to give to Iran, Billions to feed and house refugees, Billions to give to illegals, Billions for lifetime benefits for wothless politicians, we can find the money to keep going…and they will find it I assure you…

    • XSANDIEGOCA

      If the QE don’t stop, the Levee is gonna break….

      • socalbeachdude

        There is no “QE” and the Federal Reserve totally ended that back on October 31, 2014. Didn’t you get the memo? And all of the $3.6 trillion in QE funds that were created by the Federal Reserve to buy existing securities from member banks have ALWAYS REMAINED INSIDE THE FEDERAL RESERVE in the reserves accounts there of the banks from whom the Federal Reserve purchased securities assets.

    • Zlatko Milanovic

      Perfect!

    • socalbeachdude

      Many of those things are being cut very significantly in the proposed Donald Trump budget for 2017.

      • GSOB

        To little to late and it will take much longer than 8 years.

        I’ll leave these words to live by.

        Breath

        • socalbeachdude

          The correct word is “TOO” not “to” in both instances above and a bible verse certainly sheds no light on anything related to the federal government debt.

          • GSOB

            petty hair splitter

          • socalbeachdude

            Just CORRECT GRAMMAR which is certainly not “hair splitting” at all.

          • GSOB

            If I was in your presence, I’d go over Romans chapter 8 with you.

    • Gay Veteran

      we gave Iran THEIR money back

      • socalbeachdude

        Correct.

  • XSANDIEGOCA

    The choice is stark. Reign in the spending or else. How much has to be cut? How about 25% across the board. SS, Medicare, EBT, Defense…. See that happening? Neither do I. The government will kick the can down the road as long as it can until….it can’t. Then there will be the Reckoning. What can we do? Prepare for that day. When will it come ? It is out of our hands but it will be a day like no other. Repent for the End is Near.

    • Zlatko Milanovic

      Raise taxes, we have bills to pay.

      • GSOB

        You sound just like a democrat.

      • socalbeachdude

        Cut federal government spending by at least half a trillion a year.

        • Zlatko Milanovic

          We still have bills to pay. What are you, some kind of deadbeat?

          • socalbeachdude

            Well, if you’re counting on the taxpayers of the federal government to pay your bills, then you’re out of luck, dude!

  • Cinderella Man

    Well good. Maybe now the government and the people can start to live within its means. I swear some of these people think that money just appears out of nowhere. I hate to say it but we’re at 20 trillion…what’s another trillion or 2?? Its not like we will ever pay it off so who really cares?

  • Zlatko Milanovic

    Keep voting Republican and you’ll get more of the same! Duh! Doh!

    • socalbeachdude

      Huh?

  • Zlatko Milanovic

    If we would raise taxes to pay our bills, we could pay our bills! Why is that so hard to understand? We ran up a debt, now we have to tax the wealthy to pay for it because they’re the only ones with any money! Taxing the middle class is pointless, you can’t get blood from a turnip! You have to tax those with money – the wealthiest one percent! it ain’t rocket science.

    • FirstGarden

      Sadly, it’s the Golden Rule in reverse.
      Those with the gold, rule.

    • socalbeachdude

      The “wealthy” are already paying nearly all federal income taxes and the top 20% of income earners pays more than 80% of all federal income taxes which the bottom 50% pay absolutely nothing in federal income taxes. Enough is enough. Time to start taxing the bottom 50% of income earners who are the ones CONSUMING MOST OF THE FEDERAL GOVERNMENT SPENDING.

      • GSOB

        Secure our borders….

        • socalbeachdude

          Donald Trump is moving quickly to do that. The federal courts are proving to be a huge obstacle to achieving that reality.

    • GSOB

      The rich can not pay for it either. Your idea of raising taxes to pay for government bills is always being pushed.
      You should go to the hill too.

      There is also the printer.

      • socalbeachdude

        No, there is no “printer” at all. The US government cannot and does not “print” money.

        • GSOB

          Here we go again….You refuse to recognize the established process.
          I bet you can swim without water.

          • socalbeachdude

            I understand the capabilities and limitations of the federal government and Federal Reserve perfectly, but it is YOU who apparently doesn’t at all.

          • GSOB

            Every true genius is bound to be naive

          • socalbeachdude

            Huh?

  • William Lutz

    Yes you’re right. However, Trump is the most anti globalist president in modern history who just took office and inherited a humongous liability package, that was left behind by the previous establishment leaders. Trump is not evil, but he doesn’t have the capability of handling our fiscal problems that he didn’t create. So as of right now, we have no business pointing the guilty finger at him.

  • Screaming Pomegranate

    “Already, the U.S. Treasury has less cash on hand than Apple or Google…”

    Shhhhhh… you’ll give the feds ideas. Delete that line immediately.

    • FirstGarden

      Our bank accounts, too.
      Remember Cypress.

      • socalbeachdude

        Cypress was a unique case.

        • FirstGarden

          Then remember the Alamo.

          • socalbeachdude

            Alamo Car Rentals?

    • socalbeachdude

      The US Treasury will simply use “extraordinary” measures to plunder the US Postal Workers pension funds to fund the US government just as they did in 2015.

      • Screaming Pomegranate

        I think they do that every year.

        • socalbeachdude

          Actually, they only do that in years where there federal debt ceiling has been reached. In other years the US Treasury simply issues an increasing supply of legally issued new US Treasuries.

  • Bob

    I noticed the mainstream media said very little about the March 15th debt ceiling. Two days have passed and everyone still works at their government jobs. Maybe socalbeachdude can explain why the U.S. did not default and layoff workers.

    • William Lutz

      It’s because the mainstream media doesn’t like to report the bitter truth. I think a few independent sites are also guilty of not discussing this situation. Actually, I’m surprised Natural News didn’t mention a word about the debt ceiling issue.

      • GSOB

        The fallout will come. Don’t hold your breath.
        The MSM will capture the cry’s about the Fed cuts, the uncertainty of health coverage,… thus it is intended so as to encourage the nanny to provide or put up with protests and business destroying demonstrations in the streets.
        Eventually, the system will overload and implode.
        The parasite said to the host,
        relax. You are getting sleepy…..

    • socalbeachdude

      All the federal debt ceiling being reached means is that the US Treasury cannot issue more US TREASURIES (bonds, bills, notes, and TIPS). The government can continue operating for many months just as it did in 2015 when the debt ceiling was reached in March 2015 up until the debt ceiling was temporarily suspended in early November 2015. The US Treasury can and will use “extraordinary measures” for funding which basically involves plundering the US Postal Workers pension funds just as they did in 2015.

    • GSOB

      Because they’re bleeding from the nose. The POTUS has beat everyone up, and there is a dead skunk in the road and NK is blasting caps.

  • FirstGarden

    The ever-heightening debt ceiling
    is the modern-day Tower of Babel.

  • FirstGarden

    Superman catches Lois Lane, saying, “Easy, miss. I’ve got you.”
    Lois Lane: “You, you’ve got me? Who’s got you??”

  • Richard O. Mann

    Meet the new boss. Same as the old boss. Nothing changed.

    • JC Teecher

      Not true, Richard. The old boss had a liberal majority at his finger tips, Dems and repubes.

      This boss has only a handful of true conservative, non-establishment, constitutional following repubes at his following. Even the speaker of the house is a snake in the grass.

      Now D. trumpster is having to face the cold hard facts, that the majority of both parties are as corrupt as the Rushkies that want him to partner up. His attempts at trying to broker a deal with crooked politicians is becoming a Merry-go-round, that never sleeps nor stops.

      No one has his back but his family and a few close cabinet posts. He is trying to make deals with dems and with the Insurance monopolies on the TrumpsterCareAct, and it is falling apart at the seams.

      This Washington Bureaucracy monstrosity is liken to a ship of fools, and all are on a power trip, playing for mutiny, over Trump. His battles are just beginning, and the ship is listing, and stalling, without a tail wind.
      There is a real possibility that a bad, bad storm is brewing just over the horizon for the Trump Ship, and soon; many of his supporters will probably jump ship.

      Sad it is for Americans, as the alternatives for getting anything close to a tight run ship back on track will be rammed from the sides with the ever growing ships full of liberals, that want to destroy American, and rebuild it with a NWO; which will never work for Patriot Constitutional Christian Conservatives.

      We are a minor few in this world, but when this world, soon passes away, we will be triumphant and shine glorious by the Hand of God and our New Heaven Order, which kills the the nwo, once and for all time.
      Praise be to the King of Kings.

      • Gay Veteran

        “…He is trying to make deals with dems and with the Insurance monopolies
        on the TrumpsterCareAct, and it is falling apart at the seams….”

        The problem is NOT the high cost of health insurance but the high cost of health care.
        ENFORCE the anti-trust laws and consumer protection laws and health care costs will drop by well over 50% [see Karl Denninger]

        • socalbeachdude

          Absolutely 100% correct. Thank you!

          • GSOB

            You have to enforce the illegal immigration laws first and that to businesses and politicians,….. if not simultaneously.

          • socalbeachdude

            Yes, I agree with that.

  • greanfinisher

    There are three things that are sure in life: Death, taxes and raises in the debt ceiling.

  • billtheguy

    Looked over some of Trumps budget cuts. What are these? African Development Foundation • Appalachian Regional Commission? Frivolous spending it looks like to me. Glad they are getting cut. The endowment for the arts? As a taxpayer I do not want to give to that program. As an individual or a company; you can go have at it. Democrats should have stopped these 8 years ago, no matter who started them.

    • socalbeachdude

      Indeed.

    • SnodtBlossom

      Impeach President PigBastard T.Rump!!!

      • Mr.Cipher

        Shut up

        • JC Teecher

          snotty is a narcissistic sociopath; as well as social beach dude.

          There are a few others that regular here, but they choose to hide behind “guest” handles.

          Now, if we really knew everything about them, the term egomaniac might be a better descriptive word, and that would also put them into the category of being a psychopath.

          They love drama, and creating drama around themselves, which is why they are like a bad case of the piles, that keep coming back, time after time.

      • Mark

        So, you haven’t sought help for you suicidal tendencies yet. You really should before its too late. Trying to live as a god and pretend you know it all must be very hard.

        • Mark

          SHUT THE F#CK UP!!!!!

      • Mark

        Impeach Madame President Hillary Clinton. OH……………WAIT……………..BAHAHAHAHAHA!!!!!!!!!

      • socalbeachdude

        Trump says Rachel Maddow and NBC News are ‘bad people’ who have ‘something wrong with them’ for reporting on his tax returns

        President Donald Trump took aim at MSNBC host Rachel Maddow and her colleagues at NBC News, calling them ‘bad people’ for revealing his 2005 tax returns during an episode of Maddow’s show.

        http://www.dailymail.co.uk/news/article-4328016/Trump-says-Rachel-Maddow-NBC-News-bad-people.html

  • socalbeachdude

    No, it is not in any way a “mathematically impossibility” to pay down the federal debt which can be done with a combination of 1) cutting federal spending significantly, and 2) raising federal taxes significantly.

    • GSOB

      That is not going to do it, unless the intention is to pay it down, maybe a half a trill.

      • socalbeachdude

        Simply rolling federal spending back to the $2.7 trillion a year level of 2007 would create a $500 billion a year federal government surplus.

        • GSOB

          Not with ACA or GOP Care

          • socalbeachdude

            Huh? Across the board cuts on all federal spending can be and should imposed across all spending categories.

          • GSOB

            Without the petrodollar scheme, there really is no dollar.

          • socalbeachdude

            Laughably false. There is no such thing as the “petro dollar” and never was and oil only accounts for about 5% of the use of the US dollar globally.

    • Spatial Memory

      ROFL

  • socalbeachdude

    Yes, and all foreign aid through the State Department is being cut very significantly in Donald Trump’s proposed budget.

  • socalbeachdude

    The US government certainly does not have a “printing press” at all.

    • GSOB

      Oh….. they know how to get her done

      • socalbeachdude

        Get what done?

        • GSOB

          borrow

          • socalbeachdude

            Yes, the US Treasury does that very well.

  • socalbeachdude

    Huh? The Federal Reserve is INCREASING the only 3 interest rates it sets, none of which matter a hoot in the US economy where ALL INTEREST RATES THAT DO MATTER ARE KEYED OFF THE YIELDS (INTEREST RATES) ESTABLISH BY THE $13 TRILLION A YEAR US TREASURIES MARKETS where the yields have been soaring since last July.

  • retired22

    For starters,this national debt to be paid by future generations is nonsense!
    We passed that point a while back,this debt will not be paid by future generations.It will not be paid at all,..the whole global economy will end up defaulting!
    the problems start to look different when we begin to think outside of the box.We can write a book and call it ”Is there life after Keynesian Economics Tanks”?
    The Democrats will get hurt as well &Trump can turn their schemes around using the left’s strategy of ‘Never let a Good Crisis go to Waste’
    What will the left do if 10 million union government workers are sent home because they can’t be paid?
    We all know that the financial situation cannot be sustained,the plug needs to be pulled sometime. If things get crazy enough the Trump Administration can take on emergency powers & can undercut the establishment elites in ways that would be impossible under less volatile times.
    I believe that we have passed the financial frontiers & are now in unknown financial territory.Many of the old financial ideas no longer work & strategies that worked in the past are no longer viable!
    Suppose the financial markets crash,…the speculators & casino gamblers will lose their shirt,..but will that be bad in the future?
    The financial markets & the financial sector,the F.I.R.E. industry, is sucking the wealth out of the real economy.
    The real economy & the financial sector have drifted so far apart that the markets mean very little in their traditional roles as regards supplying credit to the real economy.
    if this was to happen,financial surgery would need to be performed & things would be confused for a while but we would muddle along until society’s new finances would solidify minus the bankers & Wall Street as they are now.
    Some people will be hurt but will get by, but most of the pain will land on the financiers & 1% billionaires of the financial sector.

    The financial crisis will cause problems but will also offer opportunities for big positive changes!

    • retired22

      There are no political progressives & political conservatives.These terms are thrown in to muddy the waters & confuse the public.
      The basic truth is much simpler & easy to understand,there are only the super wealthy financial elites & the rest of us who these elites live off of!

      The great British political thinker of the 19th century,Lord John Acton said:

      “The issue which has swept down the centuries & which will have to be fought sooner or later is the people versus the banks”.

      • socalbeachdude

        Wealthy people and so-called “elites” certainly do not live off people of few means, and, in fact, of course, exactly the opposite is true.

    • socalbeachdude

      False. The federal debt must be paid for by the current and future generations of the citizens in the United States of America. More than $6 trillion of it is repaid in full each year currently but those funds come from the issuance of new US Treasuries. The USA has NEVER defaulted on any of its debt and it will continue to be due and payable for the foreseeable future which must and will be paid for by the citizens of the USA.

      The fastest and most effective way to get it paid down much more quickly would be to cut federal government spending from around $4 trillion a year to around $2.7 trillion a year where it was in 2007 which would rapidly reduce the amount of federal debt.

      • retired22

        The Powers That Be determine what is paid & what is dumped.
        If they keep rolling the debt over for the next 50 years it will O.K. because they say it is O.K.
        At least that is how it works if you are the top dog & in demand like the USA,the small nations & the 3rd world will pay the bill because they have no choice!
        Forget your graphs & charts,this isn’t just finance & economics,…this is politics!

        • socalbeachdude

          No US federal debt is just “rolled over” at all. US Treasuries are PAID IN FULL AT MATURITY to their owners which is why more than $7 trillion a year in new US Treasuries have to be issued by the US Treasury – which makes the US very vulnerable to increases in interest rates.

          I would suggest you learn how the US Treasuries markets work at:

          http://www.TreasuryDirect.gov

      • GSOB

        Splitting hairs again just so you can boldly split with your thumb up your own
        .
        .

        .
        .
        .

        .
        .

        .
        comment

  • Shosh 7154

    W H Y A R E W E spending over a BILLION DOLLARS every year funding the UNITED NATIONS ?

    • socalbeachdude

      Good question, and those funds will be substantially cut under Donald Trump’s Fiscal 2017 proposed budget.

      • Shosh 7154

        I was off by 7 Billion….the U.S. gives the U.N. EVERY YEAR over EIGHT BILLION DOLLARS

  • Dean

    “The Federal Reserve is nothing more than legalized counterfeit.” Ron Paul

    • socalbeachdude

      What else would you expect to hear from such a financial ignoramus as Ron Paul?

      • Dean

        “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.” Woodrow Wilson

        • socalbeachdude

          Woody was a dimwit and imbecile and got his claim to fame by become a leader in the so-called very stupid “Progressive Movement” back in the early 1900s and was elected President of the US and served as the 28th President of the United States from 1913 to 1921.

          Woody was a HYPOCRITE to the first degree and ran for President in 1916 the around the slogan “He kept us out of war” and yet was the primary cause of WWI which broke out during his second term and he was the primary driver behind anti-war movements during his second term.

          As to Janet Yellen, she is a wonderful and brilliant lady and we are very fortunate to have her as Chairman of the Federal Reserve System where she is doing a wonderful job working to raise the only 3 interest rates they set (even though they don’t matter a hoot in the actual economy) and she and the FOMC recently increased the interest paid to banks on IOER (Interest On Excess Reserves) on March 15, 2017 which was a nice little boost for the beleaguered banking industry in the US.

          • Dean

            ROTFLMAO!!!

          • socalbeachdude

            Michael Ruppert said a lot of incredibly stupid and false things including these remarkable bogus gems below:

            Mike Ruppert, Nov. 25, 2008:
            -“The end” of the U.S. economy by March or April.
            -Gold $2000 an oz. by March
            -People starving and screaming for food by August
            -Conditions 10x worse than The Great Depression by August
            -Oil above $100, gas above $3.00 by Summer.

            http://mikeruppert.blogspot.com/2008/11/after-citigroup-look-ahead-now-that-i.html

            Michael Craig Ruppert (February 3, 1951 – April 13, 2014) was an American investigative journalist, best known as the editor of the newsletter From the Wilderness (1999-2006) and author of the 2004 book Crossing The Rubicon: The Decline of the American Empire at the End of the Age of Oil.

            On April 13, 2014, Ruppert was found dead in Napa County at home just outside the Calistoga, California city limits. Ruppert died of a single self-inflicted gunshot wound to the head.

            https://en.wikipedia.org/wiki/Michael_Ruppert

            I don’t want to say bad things about the dearly departed, but this dude was not very bright, putting it mildly and kindly.

          • Dean

            Iceland’s President explains how his country recovered from the recession: “The government bailed out the people and imprisoned the banksters. The opposite of what America and the rest of Europe did.”

          • socalbeachdude

            Iceland’s is a catastrophic economic and political wreckage.

            Its economy has not “recovered” at all and is a catastrophic debt wreckage and total mess economically, politically, and financially and it has never emerged from the financial crisis of 2008 at all and is now in much worse shape in 2016 as their political mess implodes.

            Iceland’s Prime Minister just resigned this year as part of the PANAMA PAPERS scandal which exposed his corruption and the country is in severe political turmoil with its economic and financial situation worse than ever.

            https://www.washingtonpost.com/news/monkey-cage/wp/2016/04/06/the-panama-papers-made-icelands-prime-minister-resign-heres-why/

            2016 – A rerun of 2009? No, we Icelanders are much angrier this time – Alda Sigmundsdóttir

            The farce played out by president and prime minister yesterday laid bare Iceland as a nation run by charlatans, whose hypocrisy the whole world can see

            http://www.theguardian.com/news/commentisfree/2016/apr/06/2009-icelanders-farce-president-prime-minister-charlatans-hyprocrisy

            No financial industry professionals are in jail at all in Iceland and all were released this year after those farce trials on trumped up charges and all that were convicted are now free citizens after that witch hunt travesty.

            As to EU membership, Iceland was NEVER OFFERED EU MEMBERSHIP AT ALL but rather submitted a membership application to the EU in 2009 which was subsequently suspended in 2013.

            Accession of Iceland to the European Union is a contentious political issue in Iceland. Iceland applied to join the European Union on 16 July 2009 and formal negotiations began on 27 July 2010. However, on 13 September 2013 the Government of Iceland dissolved its accession team and suspended its application to join the EU. On 12 March 2015, Foreign Minister of Iceland Gunnar Bragi Sveinsson stated that he had sent a letter to the EU withdrawing the application for membership, without the approval of the Althing, though the European Union stated that Iceland had not formally withdrawn the application.

            If negotiations were to resume, Iceland would face contentious issues on fisheries which could potentially derail an agreement, despite already being a member of the European Economic Area [EEA] (which excludes fishery). If an agreement were to be concluded, the accession treaty would be subject to a national referendum in Iceland and require ratification by every EU state.

            https://en.wikipedia.org/wiki/Accession_of_Iceland_to_the_European_Union

            Pirates given mandate to form new Iceland government…

            http://icelandmonitor.mbl.is/news/politics_and_society/2016/12/02/pirates_given_mandate_to_form_new_iceland_governmen/

          • Dean

            Ecuador’s President explains why his country has the lowest unemployment in 30 years: “We increased taxes on banks while we doubled spending on jobs in education and healthcare.” The opposite of U.S. And European Austerity.”

          • socalbeachdude

            Ecuador is in extreme political turmoil and its economy is a wreck for its population of around 16 million people. The economic statistics for Ecuador are at:

            The country may be on the verge of a regime change after no candidate was able to secure enough votes to win the 22 February presidential election outright, forcing a run-off on 2 April. Former vice-president Lenin Moreno of the ruling leftist populist Alianza País fell short of the 40% share of the vote required to avoid the run-off and will face off against center-right candidate Guillermo Lasso, who came a distant second in the first round. Despite Moreno’s relatively large victory in the first round, he may be unable to improve on his score enough to ensure a win. It appears a majority of the opposition is rallying behind Lasso in the run-up to the final round, with recent polls giving him the edge. It is unclear whether his early lead will hold and translate to the ballot box because he is generally disliked due to his past career as a banker and as an economic advisor to the government during the 1999 financial crisis.

            http://www.focus-economics.com/countries/ecuador

            Ecuador Overview – World Bank

            Between 2006 and 2014, GDP growth averaged 4.3%, driven by high oil prices and substantial external financing. This stimulus enabled increased social spending and important investments, especially in the energy and transportation sectors, as well as in education. According to official country information, poverty declined from 37.6% to 22.5% during that period. The Gini Index decreased from 0.54 to 0.47, given that growth benefitted the poorest population more than other segments.

            Nevertheless, these achievements are threatened by deceleration and, more recently, by the economic slowdown the country has experienced in response to declining oil prices since 2014 and the stronger U.S. dollar. Poverty even rose slightly, from 22.5% in 2014 to 23.3% in 2015, which reflected an increase in rural poverty, from 35.3% to 39.3%. This situation was exacerbated by the devastating April 2016 earthquake on the Ecuadorian coast. The government initially estimated reconstruction costs at nearly 3 percentage points of GDP.

            Given Ecuador’s lack of a local currency and the limited fiscal and external cushions, the country has been unable to apply macroeconomic policy to address the complex economic situation. Consequently, the new global context has led to a significant decline in domestic demand, especially public demand. The government has been forced to sharply reduce public investment and curb spending – a measure that has eased in recent months thanks to significant mobilization of external financing.

            https://www.worldbank.org/en/country/ecuador/overview

          • GSOB

            And you personally knew these folks?

  • Dean

    “It is no coincidence that the century of total war coincided with the century of central banking.” Ron Paul

    • socalbeachdude

      Ron Paul is an utter idiot when it comes to any financial or banking matters.

      • GSOB

        Slanderer

        • socalbeachdude

          Just clearly proven FACT.

  • Dean

    “The Federal Reserve is answerable to no one.” Ronald Regan

    • socalbeachdude

      Absolutely false. The Federal Reserve is subject to all of the rules and conditions of the FEDERAL RESERVE ACT and is answerable to both its member bank shareholders and the United States Congress.

      • Dean

        “Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people.” Theodore Roosevelt

        • FirstGarden

          That is one fascinating quote!

          • FirstGarden

            “For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.”
            – Ephesians 6:12

          • FirstGarden

            “The time for judging this world has come, when Satan, the ruler of this world, will be cast out.”
            – John 12:31

          • FirstGarden

            “Satan, who is the god of this world, has blinded the minds of those who don’t believe. They are unable to see the glorious light of the Good News. They don’t understand this message about the glory of Christ, who is the exact likeness of God.”
            – 2 Corinthians 4:4

          • Gay Veteran

            GSOB has parrot competition

          • FirstGarden

            I have rarely ever held out my credentials for what I believe. In my youth, my main studies were:

            – Metaphysics / Christian Science / Mind Sciences

            – The Rosicrucian Order (secret society whose teachings derive from the Ancient Mystery Schools of Egypt)

            – Enlightenment Intensive (Charles Berner – teachings of a breakaway group from Scientology)

            – Hinduism / Self-Realization Fellowship – Paramahansa Yogananda (I was an aspiring monk with the SRF Order)

            – Eightfold, Noble Path of Buddha

            – Several other more brief areas of searching (Kundalini Yoga – Bhajan Yogi; Swami Satchidananda – Integral Yoga Institute, etc)

            – Emmet Fox – New Thought Movement

            – A long list of books on world religion, enlightenment, occult and those reflective of the spiritual climate of the times – Blavatski, Krishnamurti, Baba Ram Dass, Henry David Thoreau, Hess, Costaine, Heinlein, Orwell, Huxley, etc, etc

            I finally came to historic Christian faith in 1975.

            All this to say, my search was anything but parroting. I hope you will reconsider your view and not rush to judgement on folks.
            Kind Regards

          • GSOB

            It is not a competition. It is a preparation.
            It is a calling out of the world to become partakers of Christ. A call to endure by the grace He supplies. So available, the Spirit is, just like the air that you breath. The pneumatic Christ!

            Got Christ?

          • GSOB

            Amen

          • GSOB

            Already done. He has been restrained.

          • GSOB

            There is that also.

      • Spatial Memory

        Main Menu Toggle ButtonSectionsSearch Toggle Button
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        Who owns the Federal Reserve?

        The Federal Reserve System is not “owned” by anyone. Although parts of the Federal Reserve System share some characteristics with private-sector entities, the Federal Reserve was established to serve the public interest.

        The Federal Reserve System is not “owned” by anyone. Although parts of the Federal Reserve System share some characteristics with private-sector entities, the Federal Reserve was established to serve the public interest.

        The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act. This central banking “system” has three important features: (1) a central governing board–the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.

        The Board of Governors in Washington, D.C., is an agency of the federal government. The Board–appointed by the President and confirmed by the Senate–provides general guidance for the Federal Reserve System and oversees the 12 Reserve Banks. The Board reports to and is directly accountable to the Congress but, unlike many other public agencies, it is not funded by congressional appropriations. In addition, though the Congress sets the goals for monetary policy, decisions of the Board–and the Fed’s monetary policy-setting body, the Federal Open Market Committe–about how to reach those goals do not require approval by the President or anyone else in the executive or legislative branches of government.

        Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District’s Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System

  • Dean

    “We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it.” Louis Thomas McFadden

    • socalbeachdude

      What utter nonsense from an extremely clueless and stupid fool like McFadden.

    • JC Teecher

      Hardly anyone knows the story of Louis McFadden.
      He knew the inter-workings of the Fake Jews, and all their protocols and zionistic/evil, plans.

      That is why he spoke openly about their influence in American politics, and their basic ownership of the Federal Reserve, and the need to eliminate the Federal Reserve System.

      That is why he was silenced by death in such a way as tptb could say it was just a natural death cause.

      Remember Anton Scalia? Same thing, just different methods and faces on the killers.
      Breitbart’s mysterious death? Silenced.

  • Dean

    “I believe that banking institutions are more dangerous to our liberties than standing armies.” Thomas Jefferson

    • socalbeachdude

      That is absolutely HILARIOUS, especially coming from that PROFLIGATE DEBTOR DEADBEAT THOMAS JEFFERSON who died with $107,000 in personal debts and the value of his plantation, Monticello, was only $4,500 to offset that. That $107,000 debt of Jefferson’s was a MINDBOGGLING SUM in his day and proved QED how financially stupid and reckless Jefferson was.

      “Because Jefferson died more than $107,000 in debt, his daughter Martha Jefferson Randolph and her son and financial manager, Thomas Jefferson Randolph, found it necessary first to sell nearly all of the contents of Monticello and then to sell the plantation itself. In 1827, the furniture, animals, farm equipment, and slaves were offered at an executor’s sale. In 1831, James T. Barclay, a local apothecary, purchased the home and 552 acres for $4,500, less the value of his own home.”

      http://www.monticello.org/site/house-and-gardens/monticello-house-faq

  • Dean

    “Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of the congress and manipulates the credit of the Unites States.” Barry Goldwater

    • socalbeachdude

      That is an absolutely false and extremely ignorant and utterly stupid assertion.

      Each and every year, as has been the case for 100+ years, the Federal Reserve issues FULLY INDEPENDENTLY AUDITED Annual Financial Statements which are extremely detailed and run around 500 pages each year. They are fully publicly available for you and anyone else who is interested in them to fully read and review at:

      http://www.federalreserve.gov/publications/annual-report/

      What more do you want to know?

      The Federal Reserve does not cost the US government and taxpayers a single penny and is the LARGEST SINGLE PAYER OF REVENUES TO THE US GOVERNMENT each year and those rebates now amount to around $100 billion a year.

      • Dean

        “When the going gets tough, you have to lie.” Jean Claude Juncker

        • socalbeachdude

          Huh? Juncker has nothing whatsoever to do with the Federal Reserve.

          • Dean

            “The Federal Reserve is no more Federal than Federal Express.” Micheal Ruppert

          • socalbeachdude

            The Federal Reserve ONLY EXISTS BECAUSE IT IS WAS CREATED BY THE FEDERAL RESERVE ACT passed by Congress and signed into law by the President at that time and it is under full oversight of Congress and the Act provides that it can be amended or abolished at any time in its last provision.

            I would suggest you read and attempt to comprehend the Federal Reserve Act at:

            https://www.federalreserve.gov/aboutthefed/fract.htm

          • Dean

            And who again was that imbecile that signed your “precious” federal reserve act into law????

          • socalbeachdude

            That was the only good thing that Woody ever did in his entire political career!

          • socalbeachdude

            Michael Ruppert said a lot of incredibly stupid and false things including these remarkable bogus gems below:

            Mike Ruppert, Nov. 25, 2008:
            -“The end” of the U.S. economy by March or April.
            -Gold $2000 an oz. by March
            -People starving and screaming for food by August
            -Conditions 10x worse than The Great Depression by August
            -Oil above $100, gas above $3.00 by Summer.

            http://mikeruppert.blogspot.com/2008/11/after-citigroup-look-ahead-now-that-i.html

            Michael Craig Ruppert (February 3, 1951 – April 13, 2014) was an American investigative journalist, best known as the editor of the newsletter From the Wilderness (1999-2006) and author of the 2004 book Crossing The Rubicon: The Decline of the American Empire at the End of the Age of Oil.

            On April 13, 2014, Ruppert was found dead in Napa County at home just outside the Calistoga, California city limits. Ruppert died of a single self-inflicted gunshot wound to the head.

            https://en.wikipedia.org/wiki/Michael_Ruppert

            I don’t want to say bad things about the dearly departed, but this dude was not very bright, putting it mildly and kindly.

  • Dean

    “Gold is money. Everything else is credit.” J.P. Morgan

    • socalbeachdude

      What utter nonsense. Gold has nothing whatsoever to do with money except that it costs way too much money but that situation will rapidly be corrected with gold plunging towards and to its mean of $456 per ounce and then headed much lower along with all other fungible commodities.

      • Spatial Memory

        Educate yourself of Money, Banking and Finance, not limited to any you’ll IMMEDIATELY recognize how ABSURD that comment is.

        • socalbeachdude

          I got a solid top of the class A in my Money and Banking class at a major University, whereas you would get a solid D- to F.

          • Spatial Memory

            Too funny for words!!!!! Rotflmao!!!!!!!

      • Dean

        “Because gold is honest money, it is disliked by dishonest men.” Ron Paul

        • socalbeachdude

          Gold has NOTHING WHATSOEVER TO DO WITH MONEY and has no monetary function and cannot and will not ever have any monetary use ever again.

      • Dean

        “Civilized countries generally adopt gold or silver or both as money.” Alfred Marshall

        • socalbeachdude

          That sort of a statement is utterly absurd in 2017 and gold has had no domestic use or relevance for nearly 100 years in the US. The total amount of gold in the world is only 180,000 metric tonnes worth less than $7 trillion and 70% of that is owned privately and in the form of jewelry widely distributed around the world.

          • Spatial Memory

            Yet the oldest time tested store of wealth remains the bedrock foundation of global central bankers and finance. Again – Exters Pyramid – may CLEARLY illustrate the structures and gold being the underlying asset to which all other perceived valuations remain a derivative.

            Short sort find out how it works?

            🙂

          • socalbeachdude

            The total dollar value of all of the 180,000 or so metric tonnes of gold ever mined is less than $7 trillion and 70% of it is in the form of privately held jewelry dispersed widely around the world’s 7.2+ billion people and all of the countries of the world leaving only about 30% in the form of bullion or coins that could even theoretically be used for any monetary purpose which is less than $2.5 trillion in today’s $72 trillion a year economy where there are nearly $800 trillion in assets. Obviously, gold is of no financial relevance whatsoever and is a speck of dust compared to other assets.

          • Spatial Memory

            Yet the oldest time tested store of wealth remains the bedrock foundation of global central bankers and finance. Again – Exters Pyramid – may CLEARLY illustrate the structures and gold being the underlying asset to which all other perceived valuations remain a derivative.

          • socalbeachdude

            If so, then anyone who believes such utter rubbish is proven to be a TOTAL FOOL and incapable of even the most basic of accounting and mathematics!!!

          • Spatial Memory

            Another of your absurd hunches. ROFL

          • socalbeachdude

            It is simple and straightforward math. The value of all of the gold ever mined in the world even at today’s preposterously elevated prices of $1,225 per ounce is worth LESS THAN $7 trillion which is such a TRIVIAL AMOUNT of money relative to even just other US assets as to be little more than a speck of dust.

            The US stock markets are valued at around $27 and US bond markets are valued at around $45 trillion and the Federal Reserve values household assets in the US at just under $93 trillion. And that’s just US assets and leaves aside that most of the gold in the world has been turned into jewelry.

  • Martin

    The only financial policy left for America is “when ducks are quacking, feed them”.
    It is quite amusing to observe, how magnificent superpower is converting itself into Third World nation, by its own design and with full support of its own politicians.

    • socalbeachdude

      What utter nonsense, dude.

  • Matthew Chen

    The United States is like a drunk asking for the next drink to be paid with an IOU. Soon the bartender will get sick of taking the IOUs and then the drunk has to go for rehab. In the case of the US it will go into default and then its credit rating will fall from Triple A to below D, making borrowing more that expensive. Interest rates will spike and Wall St will crash.

    • socalbeachdude

      No. That would, however, describe the PBOC and the People’s Republic of China quite well. The US Treasury has enormous demand for its $20 trillion of US Treasuries which is precisely why interest rates have been so low for so long and demand is increasing for them. Yes, interest rates are rising and will continue to rise towards normalization at around 5.25% as we are seeing in the US Treasury markets, but that is simply a return to NORMAL. The US is in no danger whatsoever of any default on US Treasuries.

      • Spatial Memory

        After years of posting completely absurd and inaccurate guesswork and CLEARLY PROVEN HORRENDOUSLY incorrect by capital markets why continue to embarrass yourself ???

        The ludicrous misconception of “normalization at around 5.25% juxtaposed to current Output Gap is beyond ludicrous yet HILARIOUSLY COMICAL to any with formal education and/or experience.

        ROTFLMAO!!!!!

        • socalbeachdude

          Your utter and extreme ignorance regarding NORMAL INTEREST RATES in the US markets is totally mind boggling and makes you look even more EXTREMELY STUPID AND CLUELESS than you normally do! In fact, it is really difficult to imagine anyone MORE STUPID than you when it comes to an historical perspective of capital markets.

          • Spatial Memory

            You have ZERO historical perspective of capital markets whatsoever. Your abilities to paraphrase media spin doctors has PROVEN that you have less education and experience in the industry than they. Nonetheless observing markets PROVE your absurd guesswork pitiful has provided MANY GREAT LAUGHS DAILY!!!

            Why continue posting so many COMPOUND INACCURACIES?

            MARKETS have CLEARLY rejected such foolishness and RELENTLESSLY PUNISHED such positions …yet you CONTINUE FOISTING LUDICROUS INACCURACIES.

          • FirstGarden

            How ’bout a nice pie fight?

          • Spatial Memory

            Why waste perfectly good pies?

            Capital markets – price action has CONFIRMED who’s comments are “clueless nonsense quite perfectly”.

            ROFL

          • FirstGarden

            We didn’t mean Marie Callenders.. way too expensive.

          • socalbeachdude

            That little diatribe describes YOUR clueless nonsense quite perfectly.

  • Cal

    Call on the name of the Lord and you shall be saved.

  • IMHO

    No collapse. Just more manipulation.

  • Kent Harris

    Slash budgets and get rid of others. Medicare needs to be 1/2 of current spending and the rest of the healthcare sector would eat the rest of the cost.

    • You are aiming at the wrong entity! August 16, 2016 Pentagon Cannot Account For $6.5 Trillion Dollars

      A new Department of Defense Inspector General’s report, released last week, has left Americans stunned at the jaw-dropping lack of accountability and oversight.

      http://www.globalresearch.ca/pentagon-cannot-account-for-6-5-trillion-dollars/5541244

      • Kent Harris

        My comment is in regards to all departments including the DoD.

        • The DOD is the problem period! Do some research they are the main reason we are broke. Besides, All wars are Bakers Wars!

          Apr. 21, 2016 RANKED: The world’s 20 strongest militaries

          http://disq.us/url?url=http%3A%2F%2Fwww.businessinsider.com%2Fthese-are-the-worlds-20-strongest-militaries-ranked-2016-4%2F%23no-5-india-16%3AHK-iFnhR1IHlhFBZuYiKFGRlHPY&cuid=2521977

          • socalbeachdude

            Absolutely false. The US military accounts for only 16% of US federal government spending.

          • GSOB

            The US spends the most, more than any other country, on defense.
            Now, that puts things into proper perspective, beachbum.

          • socalbeachdude

            So what?

        • socalbeachdude

          You are correct, Kent, and all budgets should be rolled back across the board to the $2.7 trillion level of spending in 2007 versus their current absurdly bloated levels of $4 trillion.

          The biggest part of the spending is SOCIAL PROGRAMS including the Social Security and Medicare insurance programs which are NOT ACTUARILY SOUND and which are paying out vastly more than they have taken in with payroll taxes.

          A summary of the fiscal 2015 US federal government expenditures totaling nearly $4 trillion is as follows:

          WELFARE & MEDICAL (63%)
          33% Social Security, Unemployment, Labor
          27% Medicare & Health
          ..3% Housing & Community

          MILITARY (20%)
          16% Military
          ..4% Veterans Benefits

          INTEREST ON DEBT (6%)
          ..6% Interest on Debt

          FOOD & TRANSPORTATION (6%)
          ..3% Food & Agriculture
          ..3% Transportation

          EDUCATION & SCIENCE (3%)
          ..2% Education
          ..1% Science

          ENERGY, ENVIRONMENT, & INTERNATIONAL (2%)
          ..1% International Affair
          ..1% Energy & Environment

          OTHER EXPENSES (1%)
          ..1% Government Expenses (general)

          The complete breakdown of Fiscal 2015 expenditures is extensively detailed including actual numbers as well as pie-charts with various percentage breakdowns as to discretionary and non-discretionary expenditures at:

          https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

      • socalbeachdude

        Absolutely false. The military (Pentagon) budget is less than 16% of the annual federal government spending of $4 trillion and even with Veterans benefits added of 4% the total military spending in the US is only about $800 billion a year. The Pentagon never had any access of any kind to $6.5 trillion so it is no wonder they cannot “account for it” as it never existed.

  • Mar 17, 2017 The World Is One Poke Away From A Major Disaster

    https://youtu.be/H4oeWS51g-A

    • socalbeachdude

      That video just blathers on about absolutely nothing and is just a radio report from X22 with nothing to say at all.

      • Just economic data!

        • socalbeachdude

          I still have it playing in the background and it weaves all over the board and some of it is just fine including the part that Russia has no interest in attacking anyone and the US won’t be attacking North Korea, but there is practically nothing at all in the entire 25 minutes which just fined about economics.

          • Dean

            North Korea has two satellites KMS 3-2 and KMS-4 that passes over the USA several times a day.

          • socalbeachdude

            You are totally delusional. Satellites do not and cannot have nuclear weapons.

            US, China soften tone, say to work together on North Korea

            The United States and China will work together to get nuclear-armed North Korea take “a different course”, U.S. Secretary of State Rex Tillerson said on Saturday, softening previous criticism of Beijing after talks with his Chinese counterpart.

            http://www.reuters.com/article/us-tillerson-asia-china-idUSKBN16O2V9

          • Dean

            I suggest you look up Dr. Peter Vincent Pry.

          • socalbeachdude

            Hopefully, Donald Trump will quickly fire that Pry quackazoidal who believes in “EMP” despite being told it is total BS, but even that Pry dude never suggests that a satellite can be any sort of nuclear explosive. Here’s a list of all of his crazed nonsensical articles proving precisely why he is totally out of his gourd and should be fired from Homeland Security for cause:

            http://www.familysecuritymatters.org/authors/detail/peter-vincent-pry

          • Dean

            What about a solar emp? The Solar storm of 1859—known as the Carrington Event[1]—was a powerful geomagnetic solar storm during solar cycle 10 (1855–1867). A solar coronal mass ejection hit Earth’s magnetosphere and induced one of the largest geomagnetic storms on record, September 1–2, 1859. The associated “white light flare” in the solar photosphere was observed and recorded by English astronomers Richard C. Carrington (1826–1875) and Richard Hodgson (1804–1872).

            Studies have shown that a solar storm of this magnitude occurring today would likely cause more widespread problems for a modern and technology-dependent society. The solar storm of 2012 was of similar magnitude, but it passed Earth’s orbit without striking the planet. Surely Trump should have the electrical grid hardened for this or the previous reason I stated. In 2008 it was estimated to only cost about 2 billion dollars to harden the electrical power grid in case of such threats.

          • socalbeachdude

            So what? Why on earth would anyone give the slightest bit of a hoot about such utterly IRRELEVANT NONSENSE?

          • Dean

            You never even read any of it I bet.

          • socalbeachdude

            It’s all absurd old blather from one of th jackass Obama idiots.

  • Moe

    Everything is flowing according to plan, President Obama was successful in economically destroying the nation. Till this day no one cares to see where the money went or why so much was pissed away so quickly. Instead of licking our wounds and trying to correct the mess he created, we would rather blame Trump?

    • FirstGarden

      Demonic leads to more demonic.

    • JC Teecher

      The only people that could possibly bring the atrocities done by the odrama admin, to the forefront, are the very people that are in on the con game.

  • Richard O. Mann

    I think The Donald has been painted into a corner, and there is not way out. All of this has been building for years now. It had to come to a head sooner or later. This is one of those loose/loose situations. There is no road left to kick the can down. Going to get interesting in the coming days and weeks.

    • socalbeachdude

      What utter nonsense. Donald is WINNING more all the time in the way of getting sane policies and good people put into place in the US.

      NORQUIST: Week that guaranteed Trump re-election…

      http://www.washingtonexaminer.com/norquist-this-week-guaranteed-trumps-re-election-gop-gains-in-2018-and-2020/article/2617794

    • FirstGarden

      Or perhaps, no can left to kick down the road.
      That’s when servicing the interest on the principle exceeds our interest to serve it.

      • socalbeachdude

        Interest on the federal government debt must ALWAYS BE PAID and WILL ALWAYS BE PAID.

        • FirstGarden

          I’ve heard you say this before, which would certainly preclude a default. Then that leaves very little alternative. Either the new leadership wields some magic and gets the support they need from disparate parties to pass austere measures, in the hope of eventually outgrowing a contained depression, (and I’m not saying that’s impossible), or, it’s gonna be $5 jelly donuts pretty soon.

          And / 0r more & more “confiscative” taxes, perhaps under successive leadership(s).

          What say ye?

          • socalbeachdude

            I don’t know where on earth you come up with an inflationary scenario such as you suggest above as just the opposite is where we are headed. And, yes, of course, there will be higher taxes, but hopefully some very serious federal government spending cuts as taxes alone can’t even begin to solve the debt problem.

          • FirstGarden

            Agreed. As for the cuts, they will only occur when every other avenue is exhausted, and they run out of rabbits to pull out of hats. No one wants to bite the bullet, or take the political hit from the disaffected sectors of society, so it will happen when it is forced upon us.

          • socalbeachdude

            Yep, most people don’t want to act on anything until they are forced to do so.

          • GSOB

            True, and that’s why there is so much evil, and trials and tribulations in this world…..

            ….and you dismiss His word and the Messiah.

            ……the Lord allows it, in His patient, tender love and mercy toward you…. to bring us to our end, cry out to Him for salvation, and then get captured by Him, placed into the body of Christ; the
            baptism of the Holy Spirit

            John 16:33

            God loves you and has provided forgiveness for your sins and a new life in His Son, Jesus Christ.

            Ask and you shall receive…

  • socalbeachdude

    MUCH HIGHER INTEREST RATES ON US FEDERAL DEBT

    Get Ready for a “Credit Implosion” – Justin Spittler

    The world’s biggest financial bubble just popped. We’re talking about the bond market. This is where companies and the government borrow money. It’s about twice as big as the stock market. In other words, it’s a key pillar of the global financial system. And it’s starting to give way.

    Last summer, bond yields started skyrocketing. The yield on U.S. 10-year Treasurys is now twice as high as it was last July. But you have to realize something: bond yields rise when bond prices fall.

    In January, Gross wrote that the bond bull market would end when the yield on the 10-year Treasury topped a key level, and stated “If 2.60% is broken on the upside—if yields move higher than 2.60%—a secular bear bond market has begun. Watch the 2.6% level. Much more important than Dow 20,000. Much more important than $60-a-barrel oil. Much more important than the Dollar/Euro parity at 1.00.” According to Gross, the bond bull market is now officially over. A “secular” bear market has begun. This means bond prices could fall for years, even decades.

    http://www.caseyresearch.com/articles/get-ready-for-a-credit-implosion

    • FirstGarden

      This “bear market” you speak of – does that mean that govt bears will be finding new ways to steal our picnic baskets?

      (Not altogether a joke.)

      • socalbeachdude

        Huh?

        • FirstGarden

          “The ranger’s not gonna like this, Yogi.”

          “What you mean, Boo Boo? The ranger’s already doing it himself.”

  • FirstGarden

    On “The Coming Economic Earthquake” by the late Larry Burkett.

    “To me, one of the most disturbing sections of this book is when he talks about Germany and Argentina. In a nutshell, these countries should serve as a stark warning for America. Both were, at one time, thriving industrial nations, so politicians ran up huge debts. When a crisis struck, the unpayable debt load came due. Foreign investors refused to fund that debt, unemployment went up, and they were faced with two choices: fold, or inflate the currency. Both chose to inflate the currency, which eroded confidence in the economy, and ended in hyper-inflation, with exchange rates of several thousand to one (in the case of Germany, it reached 4.2 trillion to one at one point!). A thousand dollars in the morning was worth pennies by the end of the day.

    The beginnings of this process have been happening in the U.S. for years. Debt has skyrocketed, both in government and in personal lives. The federal debt load is so high that politicians cannot stop it anymore. They can only kick it down the road a few years and hope the crisis doesn’t materialize on their watch. Burkett quotes one of his professors, who said:

    “He who rides on the back of a tiger cannot dismount.”

    We’re on the tiger, and we can’t get off. The question is not when we’ll be forced off, but how much it will hurt when we are.

    So when do we know a financial crisis is looming? Burkett points to three signs of trouble that will help us see it:

    1. the deficit cannot be funded by additional borrowing (from foreign lenders)
    2. monetizing the debt (basically, they’ll print more money, causing inflation)
    3. taxes, taxes, taxes (to meet fiscal shortfalls.)

  • J.j. Cintia

    How long do these idiots believe they can do this? Not much longer I expect. I’m sure everyone here knows they’re lying about inflation. They’re inflating and devaluing the Dollar to pay their already unpayable debts. This either ends only two ways now. Hyperinflation or default. These morons have reached the end of the road. All of you must see the massive Carter like inflation by now. Whether they admit it or not, they either default on this unpayable debt, or they spiral uncontrollably to hyperinflation.
    Either way, this game is OVER.

  • not me

    Raising the debt ceiling has become standard operation procedure. This is no big deal. They will raise it again.

    • socalbeachdude

      Actually, it is a VERY BIG DEAL and way past time to stop that kind of irresponsible nonsense.

      • Spatial Memory

        Put down the mirror.

        • socalbeachdude

          If the USA had brought spending under control back in 1981 or anytime between then and now over the past 36 years we simply wouldn’t be facing this problem.

          • GSOB

            It really is a heart condition or the “human condition” We all need a new heart. Don’t you agree?

  • mtntrek3

    We shouldn’t leave out the less fortunate, disabled and elderly. The middle/upper classes already being taxed considerably. ….. Tax monies aren’t going where they should, besides all the unnecessary spending. We should have been dealing with this twenty, or more like thirty years ago. Like a snowball heading down a hill….. it may already be too big to stop now. ………

    • socalbeachdude

      Nothing in the way of spending is ever too big to stop.

      • mtntrek3

        Taxes are either going to have to go up , or government is going to have to mostly be shut down. Neither are good, both are bad news. ……. Corruption will sadly go on either way.

        • socalbeachdude

          Simply rolling back the US government spending across the board to 2007 levels of $2.7 trillion would result in more than a $500 billion a year surplus for the US government based on current tax revenues of around $3.2 trillion a year without even raising a single tax. And, there would be no need them to even bother with raising the federal debt ceiling, and we’d be solidly on the way towards truly making America financially great once again!

          • mtntrek3

            Well o.k. . Rollbacks are to be seen. I’m assuming your math in all of this. ….. When we assume…. . …… The corruption factor you haven’t taken into account. It’s difficult to describe of course…… but the biggest elephant in the room.

          • socalbeachdude

            And just how do you define “corruption?”

          • mtntrek3

            Monies not going where it should.

          • socalbeachdude

            What do you mean by that? Where do you want “monies to go?” What monies? For what? To whom? Why?

          • mtntrek3

            Like Ross Perot said, We should all have a summer home in the Bahamas along with a yacht in the harbor ……. pertaining to the taxes we were paying back in the nineties. Where does it all go? Not all is going to the correct places overall. Then, when it does, it’s often not used correctly. Many things play into this…. mostly greed.

          • socalbeachdude

            There is very little in the way of federal spending that is “corruption” or “waste” and that is a totally bogus argument. Military spending including Veterans benefits amounts to only about 20% of total annual federal government spending.

            Only 20% of the US government annual spending is for total military spending with 16% for actual military spending and 4% for Veterans Benefits.

            The biggest part of the spending is SOCIAL PROGRAMS including the Social Security and Medicare insurance programs which are NOT ACTUARILY SOUND and which are paying out vastly more than they have taken in with payroll taxes.

            A summary of the fiscal 2015 US federal government expenditures totaling nearly $4 trillion is as follows:

            WELFARE & MEDICAL (63%)
            33% Social Security, Unemployment, Labor
            27% Medicare & Health
            ..3% Housing & Community

            MILITARY (20%)
            16% Military
            ..4% Veterans Benefits

            INTEREST ON DEBT (6%)
            ..6% Interest on Debt

            FOOD & TRANSPORTATION (6%)
            ..3% Food & Agriculture
            ..3% Transportation

            EDUCATION & SCIENCE (3%)
            ..2% Education
            ..1% Science

            ENERGY, ENVIRONMENT, & INTERNATIONAL (2%)
            ..1% International Affair
            ..1% Energy & Environment

            OTHER EXPENSES (1%)
            ..1% Government Expenses (general)

            The complete breakdown of Fiscal 2015 expenditures is extensively detailed including actual numbers as well as pie-charts with various percentage breakdowns as to discretionary and non-discretionary expenditures at:

            https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

          • mtntrek3

            The poor, disabled and the elderly are the greatest cause of our financial problems I take it? ………….

          • Dean

            All you need to do is scroll down the page and you’ll see a reply to someone of what he thinks of poor people.

          • mtntrek3

            Answers are elusive to say the least. We’ve got to take care of the less fortunate along the way.

          • Dean

            Wealthy people and so-called “elites” certainly do not live off people of few means, and, in fact, of course, exactly the opposite is true. Do you think this statement is true?

          • mtntrek3

            Lol. Wait, he’s full of s–t.

          • Dean

            That’s a SoCal quote. It’s not that far down the page 2 comments above snodtblossom impeach trump comment. Unless of course someone sees this message and deleted it before you see it. Anyway good day to you sir. 🙂

          • mtntrek3

            Consideration for the less fortunate as we go. …….. Not seeing any reasonable answers to our issues. Once the next world war takes place and afterwards the anti-christ takes stage ….. he will seemingly have answers to the world’s problems. However, it will all be a farce…… a huge lie. Christ will one happy day make this world right, and Him only. Good day to you also. 🙂 Chris.

          • socalbeachdude

            That “consideration” for the “poor” is precisely what is BANKRUPTING AMERICA and needs to be cut way back without delay.

          • mtntrek3

            Just off them is the answer I presume……… . Unnecessary eaters.

          • socalbeachdude

            No, not in the least, but we certainly can’t keep paying out US government funds to them like we have been doing which is the largest area by far of federal spending.

          • mtntrek3

            Listen………. the thing is, we as the people in this country and others are being rooked by the government and the big corporates. WE ARE!!!!!!!!!!!!

            We the people of our respective countries are being played as fools. The powers that be are laughing at us as they reap our productiveness and enjoying our benefits. More to them, less to us. Simple, yet sad. Very sad. ……. This world is temporal to the affluent and to the poor. Pain and pleasure in this world is but for a moment… eternity is forever. CHRIST IS THE WAY!!! Take care SBD. Chris.

          • socalbeachdude

            Most all so-called “poor” Americans provide little to no productivity at all to the US economy.

          • mtntrek3

            F you boy.

          • socalbeachdude

            I’d suggest you clean up your mouth and change your rather bad attitude.

          • GSOB

            Change the water first, then mop the floor.

          • mtntrek3

            ……… Hey SBD. I must apologize for my immature and stupid name calling. No excuse for it. I’m sorry. The thing is, we can’t neglect the less fortunate in our society. Some are playing it and that should be stopped immediately (social programs). Those that have legitimate concerns shouldn’t just be discarded. Programs I’m sure need streamlined/reduced somewhat …… but not entirely scrapped. …….. My $ 0 .02.

          • mtntrek3

            Go F yourself you Nazi s–t stain. You and your stupid self up-votes.

          • FirstGarden

            Christ is the way, but is not the way of this present world. We will always have these kinds of problems, i.e. the disparity of wealth, non-compassionate accumulation of wealth, and a plethora of unjust social ills in the human heart, collectively manifest.
            I think SBD is not saying screw the poor, but rather, get them productive. At least that’s what I hope he’s saying.
            But first we do need that tide that lifts all ships, small and large. And someone needs the hutzpah to actually address the real causes to our fledgling economy. Hopefully Trump is that person, and hopefully he can get the backing he needs from widely disparate sectors to accomplish noble ends.

            The goose is cooked. How do you UNcook it? The jobs have sailed away, and have continued to, faster than you can say Shanghai. How shall we reverse that. Of course, it’s all about greed and self gain. Public companies, especially, want to turn great profits for their shareholders.
            Also, water finds the lowest level of travel. Other NIC’s (newly industrialized countries) are wanting their pound of flesh too. So, it’s a force of nature, so to speak, for the money to go head “south” on us. We ‘ve had our chance, living at a high standard of living. (Not that’s there’s anything wrong with that, in and of itself.) But, now that other nations see the growth opportunities for them, we can’t altogether blame them for seeking a better life for themselves.
            The question remains, how can we make our nation attractive enough, again, to retain and recapture our manufacturing base? And our customer service, again, to sound more like English rather than Hindi or Urdu?
            How could we ever live at such low living standards again, akin to that of the 30s? I’m sure someone around here can explain it, if such a scenario is attainable. Or could the lowered costs (taxes and regulations and other overhead costs) be reduced sufficiently to offset the costs of operating here, and still offer a decent wage? I’m no economist; just another common sense guy like you. I just raise the question.

          • mtntrek3

            Dammit……. yes, but the thing is we’re being cheated by corporate and government overall. We still have to look out for the less fortunate as we can. …… !!!!! Emphasis included. Answers, ….. ?? Greed is the underlying culprit. Look to the Bible for answers. Morals/ethics are out the window regrettably. ……. Moderation is what we should have been looking to many years ago. Could be too late now.

          • mtntrek3

            Cut their throats…….. have at it chief. Smh. One happy day, this world as we know it will be no longer. God’s Son will rectify all our screw ups as mankind soon. ……. Get your faith in God through Jesus while there’s time.

          • mtntrek3

            Ah well, talking to you is proving to be futile. The unfortunate are to be discarded. You better hope you never have to live it.

          • mtntrek3

            We just let them starve?

          • socalbeachdude

            Let them eat dandelions and snails and squirrels which are all plentiful and cheap. It is not the job of the federal government to provide any funding to the so-called poor in America.

          • FirstGarden

            Well now, in the forest of confusion we come to the clearing of mixed truths. Dandelions are a whole lot healthier, actually, than the SAD (Standard American Diet.) That will never please all the Big-Mac-ers out there, but folks would actually live a lot longer living closer to nature.

            Like Gingrich said, Workfare, not Welfare.

            And good, responsible social programs that help the poor off the monthly heroin dole.

            Perhaps this quote strikes at the ideological balance well:

            “Feed a man a fish and you’ve fed him for a day. Teach him how to fish and you’ve feed him for a lifetime.

            I know that not all agree, but some who have come from very unfortunate backgrounds — crack houses; have suffered extremely bad role-modeling, cruel violent upbringings — are not morally, psychologically equipped to face the elements as have the more fortunate.

            As such, Compassionate Conservativism becomes a reality, as we help those *truly* in need.
            As well, that means, not perpetuating the lifestyles of profession welfare queens and others who are merely out to milk the great American Moo Cow.

            But there are some who are simply broken down and face horribly bad odds in life. As good Americans, we do want to help the unfortunate, and the less fortunate. But that means really helping them; not keeping them enslaved to the ghettos, living off the party of Santa Claus all their lives. Teach them how to fish, then make them fish.

            Now let’s go replenish the pond.

          • mtntrek3

            F you bitch.

          • mtntrek3

            Dandelions and squirrels I’ve eaten ….. along with mussels. Hey slick, a newsflash for you…… one day those of us that have prepared and know how to forage/hunt will be the few that remain on the earth, or what’s left of it.

          • GSOB

            Except to mandate health insurance or else!

          • mtntrek3

            Get rid of the poor then America will be paradise for sure. …….. Smh.

          • socalbeachdude

            That is precisely what we have done here in Beverly Hills, California and the reason we have achieved such a magnificent paradise .

          • mtntrek3

            F-ck off boy.

          • mtntrek3

            The land of fruits and nuts. ……. No wait, that’s not fair to the decent residents of California. …… But as for you, hmmmmm. Lol. F you boy.

          • mtntrek3

            Hello?

          • mtntrek3

            ???

          • socalbeachdude

            Yes, and it is an accurate quote as to what I stated earlier. Obviously, poor people aren’t the ones that are going to buy me a new BMW Rolls-Royce. Hellloooooo?

          • Dean

            You sound like a real spoiled “BRAT.”

          • mtntrek3

            You wouldn’t be prepping believing that statement. …………. Nothing wrong with having money, but it’s what you do with it and your agenda overall.

          • mtntrek3

            ………. There are wealthy people,and there are decent people. There are wealthy and decent people, along with wealthy and despicable people. Less affluent and decent, along with less the affluent and despicable. …… Evil along with the help of money and power rules in this world. ….. for now. God’s Son Jesus will set the world straight one happy day. 🙂 Christ is the Way.

          • socalbeachdude

            Yes, of course that is true as a statement. How can the rich live off poor people when the poor people have no means or money? Money only becomes “wealth” when a si9gnificant amount of it is CONCENTRATED in the hands of a few.

          • socalbeachdude

            Why do we the American people have to do that beyond a certain amount? Social Security was never intended to do anything other than provide a $50 monthly additional stipend.

          • mtntrek3

            Social security has been dipped into for other reasons for some time. Robbing Peter to pay Paul. Anyway, so o.k., lets revamp it. If possible. IF…… .

          • mtntrek3

            The thing is……. we’re headed for a high speed come- apart. There are faults and blame to be placed everywhere….. you name it.

          • GSOB

            Fukushima is officially labeled, an extinction level event (ELE)

          • mtntrek3

            We don’t know the half of what’s actually going on I’m sure.

          • socalbeachdude

            Tokyo is only about 150 miles away from the Fukushima-Daiichi TEPCO (Tokyo Electric Power Company) plant and there are no significant radiation levels of any concern whatsoever in the City of Tokyo.

          • mtntrek3

            What is your take on the less fortunate? … The H with them, or help them ?

          • socalbeachdude

            There needs to be a very significant limit on the spending of taxpayers funds to “help the so-called “poor” or “less fortunate” or whatever else you want to call the deadbeats of our USA society.

          • mtntrek3

            Well, hope you don’t have to live it. The less fortunate I’m speaking to. Deadbeats are another story.

          • mtntrek3

            Goes back to unnecessary eaters in your view. Whats’ your solution to the issue?

          • mtntrek3

            Waiting…… what is your grand plan chief?

          • socalbeachdude
          • mtntrek3

            Keep on sucking that Dump crack. Lol. As for me, I’ll stick with God and look forward to one happy day being in the true paradise through the shed blood of Jesus Christ. Have fun with your arrogance and self up-votes/ copy and paste bs. Pffft.

          • mtntrek3

            Hello?

          • mtntrek3

            Where’s your copy and paste for this issue?

          • mtntrek3

            Heartless. We are in dire straits economically, yet we have to tend to the less fortunate, the disabled and the elderly. …….. .

          • mtntrek3

            Where’s your hero Donald to save the day job wise and also to help the less fortunate?

          • socalbeachdude

            That certainly is NOT THE JOB OF THE USA FEDERAL GOVERNMENT nor was it ever intended to be.

          • mtntrek3

            Nothing here to see/listen to except a moron .

          • socalbeachdude

            Yes, that does characterize your comments.

          • mtntrek3

            : – / My rant was embarrassing. I apologize.

          • Dean

            Help them whenever you get the chance. I’m not living on Cloud 9 by any means whatsoever.

          • socalbeachdude

            Do that through voluntary donations, not via federal taxes on everybody else.

          • socalbeachdude

            Poor people are the BIGGEST COSTS THERE IS TO THE US GOVERNMENT these days and that is getting vastly worse.

          • GSOB

            The poor is always among the people.

          • socalbeachdude

            Yep, they most certainly are the MOST PRESSING PROBLEM AND COST IN AMERICA and that issue is going to get a whole lot worse as those of us in the baby boom generation age.

          • mtntrek3

            Just off them all , aye? Your my hero. Smh.

          • socalbeachdude

            No. Just cut down or off FEDERAL FUNDS going to them which is what must be done as such spending was NEVER AN INTENDED PURPOSE of the federal government in the USA.

          • mtntrek3

            Well then, Donald needs to get his best people out on the problem and fix it. …… Fixing it doesn’t mean nixing it btw. ……. Donald nor anyone else has any legitimate plans for correction btw. Man’s ways are failing. Christ is the Way.

          • socalbeachdude

            It’s all about CHOOSING PRIORITIES on how to spend the federal funds and setting a MAXIMUM LIMIT on what can be spent.

          • mtntrek3

            Yes……. our priorities. Limits. Yes.

          • Spatial Memory

            Simply was the only correct word in the comment. Broadening your knowledge beyond homeschooling and homespun guesswork, the following becomes simple and common knowledge:

            “In economics, the fiscal multiplier (not to be confused with monetary multiplier) is the ratio of a change in national income to the change in government spending that causes it. … The multiplier effect has been used as an argument for the efficacy of government spending or taxation relief to stimulate aggregate demand”

          • socalbeachdude

            Your utter lack of comprehension and knowledge as to economic and financial matters and accounting and mathematics are nothing short of totally mind boggling.

          • Spatial Memory

            Keep telling yourself that while markets continue to CONFIRM otherwise. Sorry for your continuous losses.

          • socalbeachdude

            Many stocks are tanking in the US, and In China stocks have crashed by 50% from what they were back in 2007 and now their credit markets are collapsing while interest rates are soaring and the very same thing is happening with bonds in the US. Please do try to keep up with what the markets are actually doing. The bond market are MORE THAN TWICE THE SIZE of the stock markets.

          • Spatial Memory

            To someone with years in the industry your ridiculous attempts at ‘constructive deception’ are absurd -juxtaposed to capital markets price action CLEARLY REJECTING the even more absurd predictions accompanying your attempts makes the parody EVEN MORE HILARIOUS!!!

            And GREAT source for inverse trade and sentiment data. 🙂

          • socalbeachdude

            If you had many years of experience in the financial industry you would be well aware as to ALL OF THE MARKET CRASHES that have occurred over that period of time and the fact that many companies have gone bankrupt with 100% losses to their shareholders and bondholders. You don’t even appear to be aware that the Chinese stock markets have crashed 50% from their 2007 highs and that oil is now down abut 60% from its June 2014 high.

            Blue Skies – John P. Hussman, Ph.D.

            The late Sir John Templeton once said, “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.” A week ago, bullish sentiment among investment advisors soared to the highest level in 30 years (Investor’s Intelligence), joined last week by a 16-year high in consumer confidence. When one recognizes that the prior peak in bullish sentiment corresponds to the 1987 market extreme, and the prior peak in consumer confidence corresponds to the 2000 bubble, Sir Templeton’s words take on both relevance and urgency. As I detailed last week, the most historically reliable valuation metrics have advanced within a few percent of their 2000 peaks, while the median valuation of S&P 500 components is now easily at the highest level on record (for charts and other analysis.

            https://www.hussmanfunds.com/wmc/wmc170313.htm

          • FirstGarden

            Pie fight, I say!
            Let us vote for a flavour.
            I motion cherry..

          • socalbeachdude

            Mud pies don’t waste any tasty fruit!

          • FirstGarden

            I got a box of pies for free – Cherry, French Apple and Boysenberry. The dates are expired, but I’ll scrape the fuzz off for you. You won’t be eating them anyway.

          • Spatial Memory

            14 in the industry and MANY more around capital markets and WITHOUT DOUBT your homespun hunches and guesswork are some of the MOST ABSURD I’ve seen – and around this site you had serious competition! ROFL

          • socalbeachdude

            What utter nonsense. It is obvious that you have nearly zero comprehension as to the financial industry from your totally absurd and utterly clueless comments.

          • GSOB

            Matthew 16:15

    • retired22

      The only really big problems are high inflation and/or war with China if the Chinese go into crisis & need to fight their way out of the situation!

      • mtntrek3

        Hyper inflation is coming according to the Bible. ….. So is the next world war. …. according to the Bible. Yes, both are really big problems no doubt.

        • socalbeachdude

          What utter nonsense. The economic term “inflation” was even invented and in common usage until 1937and the Bible was written more than 2,000 years ago.

      • socalbeachdude

        If the Chinese go into “crisis” then their currency, the renminbi (RMB / yuan) would COLLAPSE IN VALUE AGAINST THE US DOLLAR resulting in a MASSIVE GLOBAL DEFLATIONARY SPIRAL as respects all goods produced in China and the value of the US dollar would soar upwards relative to the renminbi.

  • mtntrek3

    Moderation in politics among other of our ways important. Christ is the Way.

    • socalbeachdude

      That’s nice but certainly doesn’t pay the bills or balance the federal budget at all.

      • mtntrek3

        Moderation…….

        • GSOB

          Get rid of the income tax.

          • mtntrek3

            Well, there’s the flat tax. The thing is…… I seriously wonder how much of our taxes go where their intended to go. That’s what concerns me the most.

          • socalbeachdude

            Obviously that cannot and will not be done as the USA is spending around $4 trillion a year at the federal level.

      • mtntrek3

        Livable wages are scarce. Corporate types wanting more all the time. Greed.

      • mtntrek3

        What’s your suggestion ?

        • socalbeachdude

          Dramatically CUT FEDERAL SPENDING.

          • GSOB

            In that we all must agree.

      • Spatial Memory

        Nor (not or) = negative conjunction.

        EXAMPLE: Daily predictions of macroeconomic crashes or collapses from sources not proficient in grade school level grammar nor syntax are HILARIOUS!

        • socalbeachdude

          Either one is just fine in the context above.

  • Silverbug

    There is no solution to a $200 Trillion debt problem. Let’s not be so naive. Wars are not included. Neither are all the Govt promises, obligations like pensions, SS# ,Medicare, other various loans.

    • socalbeachdude

      Wars and all of their costs are fully included in the $20 trillion of federal debt. There is no “$200 trillion debt” in the USA, but rather a total of $67 trillion of debt across all sectors of the US economy with $20 trillion of that being federal government debt outstanding in US Treasuries.

      • Spatial Memory

        ROFL

        • socalbeachdude

          What I stated – obviously – are the exact current numbers regarding US debt.

    • Spatial Memory

      $200 Trillion aggregate debt likely wishful thinking – extrapolated out plus carry costs= infinity

    • retired22

      Let’s pretend that there is a solution & if enough people are in agreement then there is a solution.
      Who is going to say no,we have the whole world over a financial barrel!

  • mtntrek3

    ………………… Our ways are failing. Christ is the Way. Not because I say it, but because God says so. Good day to all. Chris.

    • socalbeachdude

      What has failed in the USA is stupid bleeding-heart socialist nonsense and most Americans are far beyond fed up with that kind of imbecility and want it ended.

      • mtntrek3

        One day, you might get it….. . Doubtful though.

        • GSOB

          Pray for him.

          • mtntrek3

            ……. After my embarrassing tirade, I need prayer as well.

      • GSOB

        Don’t forget to include yourself. (You did though)

  • mtntrek3

    BTW, anyone here or elsewhere that wants to try to rectify our budget woes upon the less fortunate of our society are part of the problem of our society indeed. Just saying. Chris.

    • Realist

      Rectify? We have all been “rectum-fied.”

      • mtntrek3

        We all live or die together as I see it. Many types of sins, or failures contribute to our ultimate demise. Look up sins . Check out how we are failing according to God’s Word. Our political ways are imperfect of course, but to me towards the middle is closer to where we need to be. Extremism is rampant. ……. More importantly, corruption is the rule. Lie, cheat and steal. Smh. ……. Morals/ethics being tossed aside overall. ………..

        • socalbeachdude

          That certainly doesn’t mean MY MONEY is your money or anyone else’s money.

          As to “corruption” you proved below you can’t even define the word “corruption.”

          • mtntrek3

            You’re my hero. Pffft. Shut the F up.

    • socalbeachdude

      They are the CAUSE OF THE BUDGET DEFICITS and massive accumulated debt and it is time to dramatically cut spending on all of that nonsense as it is simply NOT A LEGITIMATE OR VALID PURPOSE OF THE FEDERAL GOVERNMENT.

      • GSOB

        Which brings up this question for you:
        What is the role(s) of the Federal Government, from the most important to the least?
        1.)___________________

        • socalbeachdude

          Defense of the USA is the main purpose of the federal government.

    • GSOB

      The middle class is being classed out. Two classes, the rich and the poor, is the writing on the wall.

      • mtntrek3

        Yes, a strong middle class is the main requirement in any economy. Without it……. :- / .

  • Larry

    Michael…I will have to say this is your best article that you have written…because it is fair, honest and balanced. I’m glad you are starting to wake up…and not be so easily blinded and fooled by Trump’s lies and the Republicans deceits. Hopefully, this debt ceiling soon to be crisis will show many readers that yes, either Trump will raise the debt ceiling…even when he previously said he wouldn’t OR he will severely damage the United States’ credit, prestige and currency (i.e. US Dollars) by defaulting on the govt’s obligations. This would have consequences unimaginable as the checks stop flowing…to everyone that receives federal money including senior citizens, veterans, unemployed, disabled, the sick, those that are hungry (i.e. food stamps/SNAP), housing assistance, new mothers assistance (WIC), active military, reserve military, students, college students…etc, etc, etc.

    Let’s hope he moves to

    • JC Teecher

      I am curious about when and where Trump said he would not raise the debt ceiling?

      I remember him saying he would eliminate waste and fraud within the gov, but it seems to me that only and idiot would say he could balance the budget and not add to the overall national debt, yet still decrease taxes, and increase the military budget.

    • socalbeachdude

      There are no “lies” from Donald Trump at all. And the federal debt ceiling does NOT NEED TO BE INCREASED as long as federal spending and debt are cut which is precisely what Donald Trump is successfully accomplishing. As to the “unimaginable consequences” of stopping such absurd and wasteful spending as you describe most all of those federal programs should be not just cut but entirely eliminated as federal programs. The clearly imaginable results would be to wonderfully REDUCE THE FEDERAL SPENDING AND DEBT quickly.

      TRUMP REDUCES DEBT BY $100 BILLION IN FIRST TWO MONTHS…

      http://www.thegatewaypundit.com/2017/03/355719/

  • JC Teecher

    Anyone want to get peeved off at the workings of the liberal agenda in gov? Just see what the latest odrama admin. expose’, has come to light, in direct conflict with our Constitution.

    ht tp://www.homelandsecurityus.com/archives/11346

  • Mike W

    Blame it on whomever you will but President Trump inherited this debt. We have been out of control for a long long time. Spending has been ridiculous. Sooner or later we have to pay the piper. I am glad we have a businessman for president rather than another corrupt lawyer. If there is any hope at all.

    • socalbeachdude

      Absolutely correct.

  • socalbeachdude
  • socalbeachdude

    America First – The White House Budget

    A Budget Blueprint to Make America Great Again

    https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/2018_blueprint.pdf

  • socalbeachdude

    TRUMP BUDGET TAKES AX TO WASTEFUL SPENDING…

    Trump’s ‘America First’ budget: President promises ‘a new chapter of greatness’ as he wields the ax across government to pay for the wall and the military

    President Donald Trump’s first budget blueprint lived up to the administration’s promise that it would be a ‘hard power’ document, slashing spending in every federal department except Defense, Homeland Security and the VA.

    Trump’s proposal makes significant cuts to the Health and Human Services’ and the State Department’s budgets to fund his border wall and the military build-up he’s been promising. State is being slapped with a nearly 29 percent reduction that’s intended for its foreign aid division, a 10.9 billion dollar decrease from the current fiscal year. HHS will lose out on $15.1 billion in funds, a 17.9 percent overall decrease, if Trump’s budget is approved in its current form by Congress.

    Trump is proposing the dramatic cuts to some agencies so he can put $2.8 billion more toward immigration enforcement in 2018, $2.6 billion of which is being set aside for his border wall, and appropriate an additional $54 billion to defense spending without adding to the federal deficit.

    http://www.dailymail.co.uk/news/article-4319866/Trump-calls-cuts-pay-wall-defense.html

  • amongoose

    Actually it could be his biggest opportunity. With the debt ceiling hit he will get to make the spending decisions based on covering mandatory spending first. PBS, NPR. Nat.End Arts and other liberal favorites aren’t mandatory.
    .
    He may get to simply allocate funds and in a sense write his own budget.

    • retired22

      Trump can use the old left wing axiom about not letting a crisis go to waste,..the politicians in both parties will back him up,they have to answer to the voters as to why their entitlements are not coming in as in the past.
      The Democrats will get behind a new budget ceiling because their whole agenda is the Welfare State & the states that are in the most need for more money are the Blue States like California,N.Y.,Mass.,Illinois & etc,.They are in the deepest debt hole & will get hurt the most if new money is not forthcoming.
      If the new debt ceiling is not raised,Trump can start to whack away at funding for these Blue States by just saying that the money is not available!

      • JC Teecher

        Amen to “whack away at funding for these Blue States”.

        These are the majority of states that have “sanctuary cities”. Stop gov funding for all cities that are breaking the law by allowing common criminals a safe haven.

        When republicans complain about cutting the budget, then it is probably because they got all their “pork barrel/special interest/kick back dollars…projects”, approved, during the odrama years.

        They were all like spoiled babies and took their cake and ate it, and always cried for more, and got it.

        • retired22

          These politicians are into a new ballgame,…never in the past have the taxpayers been major players in the political power sweep stakes….The politicians are actually starting to fear & respect the people who elected them.

          • socalbeachdude

            The majority of the American public is to blame for these spending problems and only votes for politics who want to do endless spending federal spending which massively run up the federal debt while not sending them a bill for the costs.

        • socalbeachdude

          Many “blue states” – like California are NET CONTRIBUTORS TO FEDERAL GOVERNMENT REVENUES unlike most so-called “red states.”

      • socalbeachdude

        This DEBT CRISIS has been ongoing for 36 years and has no reached catastrophic proportions and it is way past time to serious react to this disaster and start really dramatically cutting federal spending.

        • Spatial Memory

          Yet interest rates remain at diminished levels not seen in centuries with bond holders knocking the cover off the ball for decades – while all you’ve foisted are HORRENDOUSLY inaccurate forecasts. ROFL

          • socalbeachdude

            Interest rates are SOARING UPWARDS and are all set in the US bond markets, particularly the US Treasury markets which are a $13 trillion a year market.

  • Leif Erickson

    Raise taxes and/or cut public assistance. No other choices.

    • socalbeachdude

      100% correct.

      • GSOB

        Borrow and print and borrow and print some more.

        • socalbeachdude

          The US government cannot and does not “print” a single dollar.

  • Bill

    Michael, PLEASE turn off the artificial intelligence robotic beach dude, PLEASE……

    • socalbeachdude

      I’d suggest you start reading and comprehending all of the key economic information I always accurately present.

      • Spatial Memory

        One man’s key economic information is another man’s extraneous banter and inverse sentiment trading data.

        • socalbeachdude

          Only to extremely stupid and ignorant people like you!

  • Ginger

    Repeal Obamacare, and that will cut a large sum of money due, primarily for the expansion of Medicaid. I don’t know why there is always talk of Social Security and Medicare being entitlements. If people have paid into those programs, they are not entitlements. SSI and Medicaid are, and should be cut. I agree that the Republicans need to get to work making substantial cuts so that we won’t have to keep raising the debt ceiling, but for now, it will likely need to be raised again until the cuts can be made. Otherwise, let it crash, if the Democrats won’t agree to any cuts.

    • socalbeachdude

      100% correct, Ginger. Both Social Security and Medicare are INSURANCE PROGRAMS not entitlement programs whereas that is not true as to SSI (disability) and Medicaid benefits which are pure social welfare spending programs.

      • GSOB

        Call it what you will, it’s bankrupt anyways – or soon will be.

  • Richard Bagenstose

    stop loaning money to the rich and wall street at 0 % ,when we loan money we have to pay interest

    • socalbeachdude

      No money was ever loaned by anyone to the “rich” and “Wall Street” at all.

      • Richard Bagenstose

        well then just who in the hell has the fed bin loaning money to at less then 0%

        • socalbeachdude

          NOBODY.

          • Spatial Memory

            ROFL

          • socalbeachdude

            I see you are as clueless as always.

        • Spatial Memory

          Bulge Bracket, not limited to 🙂

          • socalbeachdude

            Where do you come up with such nonsense?

      • Spatial Memory

        Put your head back in the sand.

        • Dean

          The Dunning-Kruger Effect??

        • socalbeachdude

          Are you seriously that ignorant? Really?

  • Richard Bagenstose

    he is already making cuts , you can’t do it all at 1 time , a little here and their till you get it under control , that’s where oboma went wrong , he tried to shove everything down our throats at 1 time , and we threw up on him

  • apzzyk

    Something that I have not even seen mentioned on these sites is the fact that right after the election, in anticipation of the tax cuts, mostly for the wealthy, that Yellow Hair promised, the credit rating of the US went from the AAA, which was the result of the Cruz fillibuster on something not particularly relevant of a few years ago, to now AA, meaning that there is more risk – that the Full Faith and Credit part of the constitution are becoming meaningless.
    One of the important things in a credit rating – more important than previous payment history, is income. Or in the case of governments, the tax base. The US tax base is that which exists at the time, but over the past 35 years, with each tax cut, which were very popular and kept the GOP in office, came a reduction in the tax base. Now, what were 35 years ago earned benefits – SS and all of the other pension systems that are part of the ‘hidden’ national debt, have become ‘entitlements’ which are targets of cuts – at least in the rate of increase. We who depend on these saw the first big failure of the Full Faith and Credit with our token increase in pensions of 3/10ths of 1% for this year, where our actual costs of living increased by more like 4-5%. My total increase with 100% VA disability and about $1K in SS, totals about 5 packs of cigarettes a month. Maybe I will die of something tobacco related before I starve to death.
    With the tax cuts, the tax base will fall even more, and so we now should worry about whether any country will actually loan us more.
    Then, to make this more promematic, there is the chance that the ones who have already loaned us parts of the existing $19 Trillion will actually roll their Treasury securities over or not. If they do not, that money will have to be replaced too, and with the lower credit rating at a higher interest rate.
    Looking at what Yellow Hair wants to spend money on, there is not going to be any increase in our tax base. The billions spent on the great wall, which might better be spent on almost anything else, is just a big waste of money – it will take more money to maintain it than it is worth, and even though Yellow Hair will not go back on his assertion that it will stop the drug trade, drones are relatively cheap. ISIS is using them.
    Reagan had his great 600 ship navy, and Yellow Hair will have his great military build up – tanks are not part of our tax base.
    In his great EO for the pipelines he required that US materials be used, but unfortunately we do not have the steel making capacity to do that. If the people getting the tax breaks had ever actually invested money in new factories to produce new jobs, we might have a new steel mill that would be capable of producing that material, but they haven’t and they won’t, and the govt could not do this because it would be the greatest evil of all – socialism.
    The flow of wealth for the past 35 years is that we buy things made in China, and then China loans us back the profit to make more profit, and so our consumer economy then buys more from China, and the circle goes on – too bad Supply Side economics – our new religion – does not mention the consumers. In looking at the trains at the grade crossings, missing are the big shipping containers, which are backing up at the storage lot along side the tracks. 20% or so of China’s bonds – or about $250 billion will come due this year, and Yellow Hair does not like China, so will China like a government headed by Yellow Hair? Then there is Mexico, which is not going to pay for the great wall, but may cash in 20% of their half trillion of our national debt, and may start charging an export tax on what they ship to the US. How about a $2.00 Avacado? Under Yellow Hair’s great immigrant ban, there will be no jobs created in Agriculture to grow our vegetables and fruits, which will come in as ‘Produce of Mexico’.
    In the building of his great empire, Yellow Hair got put on COD by his knowledgeable suppliers.

    • socalbeachdude

      What utter nonsense. The USA has never once defaulted on any of its federal government debt and never will default on any of its US government debt.

  • Mark

    OH NO!!!! SoCalSOB had my comments deleted whatever shall I do???? Ahahahahahaha!!! Get your head out of Janet Yellins batcave and shut the hell up socalSOBdude!!!!

Finca Bayano

Panama Relocation Tours




 

ProphecyHour

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