Jump to content



Photo
- - - - -

Obama's Administration dips into US retirees' funds


  • Please log in to reply
33 replies to this topic

#1 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 01:26 PM

http://www.presstv.i...ail/180481.html

Posted Image
("I'm full of shit up to.....here.")

The US administration has temporarily halted payments to the retirement and federal pension accounts of workers after the government hit its debt limit.


The American administration has also begun to dip into federal worker pension funds after reaching the United States' $14.3 trillion debt ceiling on Monday.

The latest development prompted the government to start borrowing from pensioners, Treasury Secretary Timothy Geithner informed US Congress, DPA reported.

Geithner sent a letter to Senate Majority Leader Harry Reid, warning that the government can move money around for about 11 weeks but if a new debt ceiling is not agreed to by August 2, the US government could effectively default on its obligations to its creditors.

He also warned of “catastrophic economic consequences for citizens.”

"We're trying to figure out what to do about the budget. The situation creates an urgency to do something to the budget in order to get that debt ceiling increased. Government pensions or agriculture will probably see a lot of changes, to make us able to lift that debt ceiling," said Maya McGuineas, the head of the Committee for a Responsible Federal Budget.

US President Barack Obama has warned of a double dip recession if his administration is not allowed to keep borrowing, but a Gallup public opinion poll indicates that nearly half of those polled oppose raising the national debt ceiling.

The new poll shows 47% of Americans do not want the debt ceiling raised.

If Congress fails to raise the debt ceiling by August 2, it would force the administration to choose between paying creditors or paying for military operations, social security and Medicare payments, and other commitments.

#2 halfstar

halfstar
  • VibeTribe
  • 16,063 posts

Posted 01 June 2011 - 01:30 PM

The best way to get out of debt is to borrow your way out of it. Lols. The government is such a joke.

#3 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 01:33 PM

:gop:

#4 melissa.phish

melissa.phish
  • VibeTribe
  • 2,418 posts

Posted 01 June 2011 - 01:44 PM

The government is such a joke.


And not a funny one, either.

#5 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 01:48 PM

How far can we raise the debt ceiling and continue to spend money far beyond our means?
Can the govt. continue to just print more bills to cover the debt and kick the can down the road for future generations?
Who is profiting from spending the public into total financial enslavement?

:gop:

#6 deadheadskier

deadheadskier
  • VibeTribe
  • 11,295 posts

Posted 01 June 2011 - 01:48 PM

China

#7 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 01:54 PM

You can petition the govt. to start being financially responsible...... :rotf:

#8 deadheadskier

deadheadskier
  • VibeTribe
  • 11,295 posts

Posted 01 June 2011 - 01:56 PM

yup,

I can vote for people that will be more financially responsible.

prolly a better plan than flicking pennies at cops

#9 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 01:57 PM

"Hope for Change"

:rotf:

#10 In A Silent Way

In A Silent Way
  • VibeTribe
  • 26,959 posts
  • LocationShoreline, CT

Posted 01 June 2011 - 01:59 PM

Who is profiting from spending the public into total financial enslavement?


China

This. Ni hao, mf'ers.

I can vote for people that claim they will be more financially responsible.

Fixed that for ya

#11 deadheadskier

deadheadskier
  • VibeTribe
  • 11,295 posts

Posted 01 June 2011 - 02:08 PM

This. Ni hao, mf'ers.


Fixed that for ya


Very true, it is who claims to be better. Locally it's a lot easier to do than at the State or National level.

#12 Julius

Julius
  • VibeTribe
  • 11,263 posts

Posted 01 June 2011 - 02:11 PM

If the debt ceiling isn't raised, that is called DEFAULT. Borrowing costs would go up dramatically. The public is so damn uneducated on this stuff.

#13 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 02:12 PM

:rotf:

"Borrow money to get out of debt."

:rotf:

#14 halfstar

halfstar
  • VibeTribe
  • 16,063 posts

Posted 01 June 2011 - 02:16 PM

The debt ceiling is just an arbitrary number and has no real meaning. Still, the government should learn to budget instead of try to borrow their way out of debt.

#15 Joker

Joker
  • VibeTribe
  • 11,579 posts

Posted 01 June 2011 - 02:21 PM

http://www.presstv.i...ail/180481.html

Posted Image
("I'm full of shit up to.....here.")



:lol:

:thumbsup::thumbsup:

#16 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 02:25 PM

The debt ceiling is just an arbitrary number and has no real meaning. Still, the government should learn to budget instead of try to borrow their way out of debt.


Exactly. the number only represents the amount the tax payers are willing to cover on the federaL Governments terrible financial habits that they saddle the public with.

Raising the debt ceiling is just an indicator that the govt. has absolutely no plan to curtail spending (I'm looking at you military) and start being a responsible entity FOR the people.

Of course, the people have no clue how to balance their own budgets in this country, so it makes sense that they wouldn't expect their leaders to do the same.

#17 Deadshow Dan

Deadshow Dan
  • VibeTribe
  • 11,899 posts

Posted 01 June 2011 - 02:52 PM

Raising the debt ceiling is just an indicator that the govt. has absolutely no plan to curtail spending

Completely wrong.

Budgets are where you see whether there is a plan to balance the budget and pay down the debt.

For example, the House GOP just recently passed a budget plan that gave away billions to the rich while gutting Medicare, the EPA, etc. Very little dent in balancing the budget, but like their plan or not it was the indicator to what extent they were willing to balance the budget and pay down the debt (I'd say very little)

It's easy to at least make a major dent in balancing the budget and move back to paying down the debt. Move out of Iraq, Afghanistan, and Libya, increase taxes on the rich back to a reasonable level and you're there. (hmmm I think I missed one other easy thing)

But the bottom line is these budget issues should be dealt with in budget battles. That's where you make these decisions.

Bringing the country on the brink of default is totally irresponsible. It's taking the country hostage unless they get their way. Imagine how the media would be playing it if the Democratic Senate wouldn't allow the debt ceiling to be raised until taxes were raised on the rich.

#18 Deadshow Dan

Deadshow Dan
  • VibeTribe
  • 11,899 posts

Posted 01 June 2011 - 03:01 PM

Better title for the article:

House GOP holds country hostage by refusing to raise debt ceiling. Obama's administration is forced to stop making payments into US retirees' fund

#19 Julius

Julius
  • VibeTribe
  • 11,263 posts

Posted 01 June 2011 - 03:07 PM

Better title for the article:

House GOP holds country hostage by refusing to raise debt ceiling. Obama's administration is forced to stop making payments into US retirees' fund


I have a slightly more objective headline for the current voting on the issue:

House takes initial vote on debt ceiling to establish grounds for negotiation on future vote, which is certain to pass before August 2.

#20 Deadshow Dan

Deadshow Dan
  • VibeTribe
  • 11,899 posts

Posted 01 June 2011 - 03:10 PM

I have a slightly more objective headline for the current voting on the issue:

House takes initial vote on debt ceiling to establish grounds for negotiation on future vote, which is certain to pass before August 2.

That's a fine headline. Not more objective. Just fits your bias better :coffee:

#21 Tim the Beek

Tim the Beek
  • VibeTribe
  • 16,198 posts

Posted 01 June 2011 - 03:10 PM

Here's what needs to happen, as much as I hate to say it (except for the cutting spending part):

-The debt ceiling has to be raised one more time
-Dramatic spending cuts must be made
-Taxes have to go up. Eventually, they should come back down, but with the hole we're in, it's necessary.

If those 3 things don't happen, we're through. It's just a question of when.

A U.S. default would be economically catastrophic to most of the world.

I'm fairly sure that me and mine could get through it ok. Not comfortably, but ok. but I don't want to see it happen.

#22 Deadshow Dan

Deadshow Dan
  • VibeTribe
  • 11,899 posts

Posted 01 June 2011 - 03:13 PM

I wouldn't be surprised if you see earlier troop withdrawals because of the costs

http://www.washingto...src=nl_politics

#23 Joker

Joker
  • VibeTribe
  • 11,579 posts

Posted 01 June 2011 - 03:15 PM

What is the Democrat's plan to balance the budget?

What is the Democrat's plan to fix Medicare?

#24 Deadshow Dan

Deadshow Dan
  • VibeTribe
  • 11,899 posts

Posted 01 June 2011 - 03:18 PM

What is the Democrat's plan to balance the budget?

What is the Democrat's plan to fix Medicare?

Neither party has presented a plan to do either, though the Hose GOP has a plan to gut Medicare

#25 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 03:23 PM

Completely wrong.

Budgets are where you see whether there is a plan to balance the budget and pay down the debt.

For example, the House GOP just recently passed a budget plan that gave away billions to the rich while gutting Medicare, the EPA, etc. Very little dent in balancing the budget, but like their plan or not it was the indicator to what extent they were willing to balance the budget and pay down the debt (I'd say very little)

It's easy to at least make a major dent in balancing the budget and move back to paying down the debt. Move out of Iraq, Afghanistan, and Libya, increase taxes on the rich back to a reasonable level and you're there. (hmmm I think I missed one other easy thing)But the bottom line is these budget issues should be dealt with in budget battles. That's where you make these decisions.

Bringing the country on the brink of default is totally irresponsible. It's taking the country hostage unless they get their way. Imagine how the media would be playing it if the Democratic Senate wouldn't allow the debt ceiling to be raised until taxes were raised on the rich.


Cut military/pentagon budgets by 85%.

Of course NO ONE has any plans of addressing the elephant in the room. Keep pushing pennies around the shuffle board while the Establishment robs us blind....Oh, and cut the idiotic federal government programs that aren't necessary too.

Joker, the Dems have no plan. Just like the repubs have a plan to only furnish to their own. Same team, different color tie.

#26 Julius

Julius
  • VibeTribe
  • 11,263 posts

Posted 01 June 2011 - 03:24 PM

What is the Democrat's plan to balance the budget?

What is the Democrat's plan to fix Medicare?


Oh that's an easy one: wait until after the 2012 election before bringing up any controversial issues.

#27 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 03:25 PM

The country wouldn't be on the edge of default if these robbers we call politicians actually had any intention of doing what needs to be done and quit spending far beyond our means. This shit is so basic, yet we turn it into this complex ordeal and nothing ever gets done.

This federal government/military needs a drastic cut in size. it is no longer working for the people. It is working for itself and its own interests.

#28 Joker

Joker
  • VibeTribe
  • 11,579 posts

Posted 01 June 2011 - 03:33 PM

For example, the House GOP just recently passed a budget plan that gave away billions to the rich while gutting Medicare, the EPA, etc. Very little dent in balancing the budget, but like their plan or not it was the indicator to what extent they were willing to balance the budget and pay down the debt (I'd say very little)


Neither party has presented a plan to do either, though the Hose GOP has a plan to gut Medicare


So first you say the GOP passed a budget plan but then you say they haven't presented a plan?

Just because you don't agree with their plan doesn't mean they don't have one.


Honestly :rolleyes:

#29 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 03:34 PM

Neither party has presented a plan to do either, though the Hose GOP has a plan to gut Medicare


So what makes the democrats different?

#30 Joker

Joker
  • VibeTribe
  • 11,579 posts

Posted 01 June 2011 - 03:53 PM

Funny how some political threads are allowed to remain in the other forum but pretty much any thread critical of the current administration gets tossed over here. :lol:

#31 Julius

Julius
  • VibeTribe
  • 11,263 posts

Posted 01 June 2011 - 03:58 PM

Funny how some political threads are allowed to remain in the other forum but pretty much any thread critical of the current administration gets tossed over here. :lol:


Awwwww, your poor victimized soul, you must be so tortured by the moving of threads on a message board.

All together now. . . one, two, three. . . awwwwwwwwwwwww. :mrgreen:

#32 TakeAStepBack

TakeAStepBack
  • VibeTribe
  • 18,628 posts

Posted 01 June 2011 - 04:21 PM

So what makes the democrats different?


:huh:

#33 Joker

Joker
  • VibeTribe
  • 11,579 posts

Posted 01 June 2011 - 05:34 PM

Awwwww, your poor victimized soul, you must be so tortured by the moving of threads on a message board.

All together now. . . one, two, three. . . awwwwwwwwwwwww. :mrgreen:


Thank you, I feel better now.

Seriously though, there was at least one other political thread up top along with this one. What logic was used to determine that this one should be moved and not the other?


Posted Image

#34 vic

vic
  • VibeTribe
  • 4,913 posts

Posted 01 June 2011 - 06:47 PM

Funny how some political threads are allowed to remain in the other forum but pretty much any thread critical of the current administration gets tossed over here. :lol:


the bias is clear, but i really don't care anymore

at least if it gets moved the only people discussing it are the few of us who give a shit, and it keeps the idiot gallery from trolling up the threads