Sunday, October 06, 2013

More on the Debt Limit

A comment on my last post: if the dems were doing this you would call then heros(sic), standing on ideals.

No I wouldn't and the Dems have never been this irresponsible. As I wrote
The debt limit was raised 18 times under President Reagan and 7 times when Dubya occupied the the White House.

Every economist in the country left, right and center have warned against a default on the debt. Should the US government run out of authority to issue new debt instruments such as T-Bills and Savings Bonds the entire world economy would be impacted. The first thing that would happen is the stock market would crash wiping out a big chunk of wealth not only for the big investors but everyone with a mutual fund, 401K or IRA.

Then interest rates would go through the roof and people will not be able to afford to buy a car, a house or anything else you usually buy on credit such as appliances, etc. Business will not be able to replenish inventories or upgrade plant or expand.

If people in our consumer driven economy can't buy stuff that will lead to widespread unemployment.

There would be one positive effect, sort of. The price of gasoline would drop to below $2 a gallon because of a collapse in demand.

The Republicans forcing a government shutdown is playing with dynamite. Threatening not to raise the debt ceiling is playing with nuclear weapons.


Anonymous said...

If it takes slash and burn tactics to overturn the communistic manifesto that is Obamacare. I say go for it, and if it fails to overturn it then those who believe in a genuine right to freedom battled with justice on their side, and didn't simply allow this right to breath tax to be passed upon the citizens.
It is scary that we now live in a country where the government is forcing its citizens to purchase a service just simply to exist.

Big Dan said...

The debt ceiling has to rise just to pay for the interest on things we've already charged, duh. Even if we didn't spend a penny, we'd have to raise it just for that. I think even if we CUT spending, we'd have to raise the debt ceiling just for the interest on things we've already charged. Why is this not being mentioned by anyone?

Pope George Ringo said...

Ever get into an auto accident with some loser who has no car insurance--which by the way is mandatory.
Well, when people go to the emergency room and have no health insurance do you think seriously that through their good Christian graces the hospital absorbs the costs? NO. They raise their prices thereby forcing insurance companies to raise theirs. Either way, if you have health insurance you are paying for those who do not. How about these people paying for their own insurance for a change??
There are many things we "have" to have as a society.
It does not mean we are totalitarian.

Anonymous said...

The auto insurance comparison is stupid. One must carry insurance if they chose to drive. Can't afford insurance, don't drive, and auto plans have an uninsured/uninsured option to protect the insured from the uninsured.
Mandating a U.S. citizen to purchase a service simply because that person exits is totalitarianism in its most extreme view.
Yes, there are flaws in the system, but telling someone they must purchase insurance for the good of the collective IS communism. There is no other word for it.
It is funny that the liberals love choice when it comes to running a living embryo through serrated blades attached to a vacuum, but when people would like to exercise their right to chose whether or not to carry insurance --- well then they must be lined up and forced to under the threat of fines.
How about this? Eliminate health insurance all together, and people have to pay for the care they use.
If they can't afford care, they don't receive any care. If they have an illness, and they die, as harsh as this sounds, so be it --- everyone dies anyway.

Anonymous said...

Anon 5:43
We are left w/one of three options.
-purchase insurance, which I can't afford. The "tax credints" don't help me because I can't afford the montly preimums to start.
-pay the tax fine. Which I can't afford either. I assume they will keep my refund, which I used to purchase home heating oil, so now I won't be able to heat my apartment
-commit suicide, which I am strongly considering.
Has anyone noticed that the gorts and yonkis of the world pushing this plan, have emplyer provided health insurance? Ya gotta love it. What is promoted to help those of us struggling day to day, is helping destroy me. And gort or yonk don't have a fucking clue, but they keep trying to tell us what is best for us.
What will be best for me, may be saying good bye. I guess I am more than considering, I have been seeing those I love the most and spending as much time with them as I can.

Pope George Ringo said...

ANon 5:43; 6:05....great ideas!!!!
Providing we end taX BREAKS for all of corporate America---corporate welfare.
Provided every goddamned Republican in the Congress has the balls to say, "Screw You're on your own to die".
By the way,
Does this apply to infants???? Where's that pro life stance we all so admire in you fellas/gals???

Additionally, every American is required to carry a Social Security Card. COMMUNISM!!!!!

ANd yet I do not hear the heroic Boehner, Cantor,----shit, even the wackiest tea partier calling for the end of Social Security.

Even your patron Saint, Ronnie Reagan (the Pres. who should have been impeached for selling U.S. taxpayer funded weapons to the terrorist nation of IRAN, never had the balls to call for the elimination of the Communistic Social and read that right "SOCIAL (IST) Security.

What a load of Bullshit.
OBamacare is here.....DEal with it!!!!

Bless you all.
His Holiness,
Pope George Ringo,
The Vatican

Anonymous said...

I agree, end all tax credits and breaks for corporations. I have no problem with that.

Social security should be ended. but it won't be, but it just might not have very much money in it --- which kind of happens with all Ponzie schemes eventually.

Obamacare should be ended, but it won't be for all that it may help, it will hurt many more, but that's okay, because it has been sold as compassion. I can't afford any of the insurance plans or the fines, so I'll just have to see what happens.

Sadly, Americans are weak of mind and of body. Many have become a people wholly dependent on the government from housing, foodstamps, to retirement and now healthcare. It is the way it is, and the weak will be kept artificially afloat, of course at the expense of not only the strong, but the average people genuinely trying to make a better life for themselves and their families, I know pope, those selfish bastards, only wanting to work to provide for themselves.

And how stupid were the American people to allow the government to issue the social security card allowing a citizen's every movement to tracked? but we know the government would never do anything like that.

Pope George Ringo said...

I assume from your remarks my son that you cannot afford health insurance.
Which basically means that if you end up in the emergency room, or God forbid, have a catastrophic illness that my insurance is going to go up to pay for it.
Or, should we just let you die?
As a Christian (and Holy Father), I cannot allow that.
Perhaps if you do become seriously ill (which I pray you do not) you would have more compassion for others who suffer now.
If we as America are not a compassionate nation, then what the hell (forgive me Father) is the point of all our pomposity and "god bless america" jingo for??
Bless YOU.

Better Life Seminars said...
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Better Life Seminars said...
This comment has been removed by the author.
Better Life Seminars said...

I would like to weigh in if I may.

I changed my office over to a concierge practice, I no longer accept insurance, because after my divorce and illness, I became one of the many that could not, nor can I now (even with the exchanges)afford insurance (among several other issues that continue to plague me, but I will never give up), but for those like me without insurance I came up with an affordable monthly rate for patients to continue to have access. This rate is lower than many copays, has no deductibles, and the insurance company no longer dictates what care I deliver, nor the frequency or duration and no pencil pusher with zero medical education comes in between me and my patients.

Being uninsured, and sadly I will have to remain that way for the short term, if I end up having a catastrophic illness, and am unable to make payment arrangements for my care, then I would not expect charity, or others to pay for it. I am and would be prepared for the consequences.

I have been without insurance in the past, and have always made payment arrangements with either the doctor, or the hospital and fulfilled those obligations. I find it laughable that so many think, just because one doesn't have health insurance they are automatically freeloaders, not paying for care.

Unlike many, I do not hold the belief that I live life at the expense or convenience of others.
I am responsible for myself. Unlike many, I take care of what I can control. I do not smoke nor drink and I exercise everyday. I have written about it and said it many places, and someone said it elsewhere, the 3 leading causes of preventable "illnesses" are obesity, smoking and alcohol abuse --- if we would like to see costs come down, we should be more concerned with these 3 issues, because the results from these 3 are going to bankrupt any system, whether public or private.

I do not expect nor want you or anyone else to care for me or pay for my care. I do not fear the ultimate destination. I have made my peace with the God I believe in, and with the actions, both good and bad, of my life. I have had a wonderful and full life, a life with no apologies and no regrets.
If my time comes up, then I will die. I prefer to concentrate on quality over quantity of life, and often times medical care focuses much too much energy on the latter, and many people put no focus on the former.
Thank you,

Better Life Seminars said...

W/all that said, just to be clear, I am in no hurry to meet my demise :)

Anonymous said...

Get this Congressman, he changed his stance as often as a nurse changes her latex gloves...

An eastern Pennsylvania congressman says he's switching his stance and no longer supports a bill to reopen the federal government without strings attached.

Rep. Lou Barletta said Tuesday he now believes the best chance to win congressional approval of a government funding bill is attach a provision repealing a medical devices tax that was in the sweeping 2010 health care law.

Anonymous said...

Seems Congressman Barletta isnt impressing any real Republicans. He is all over the place on big goverment, anti Constitution votes.