| 101. Author: Brewha | Date: Thu, 6/1/2023, 11:53AM EST | |
As part of corporate "continuous improvement" or goal is to have less holidays. |
| 102. Author: RayR | Date: Thu, 6/1/2023, 11:58AM EST | |
HockeyDad wrote:I demand parades and a new holiday. Debt Ceiling Disaster Avoidance Day That will come before the Debt Jubilee naturally... A Debt Jubilee of Biblical Proportions Is Coming Soon… What You Need To Knowby Nick Giambruno Quote:Four thousand years ago, the rulers of ancient Babylon discovered a technique to stave off violent revolts.
In ancient times, there was a tendency for people to become hopelessly in debt to their creditors. Eventually, they would rise up and cause instability that could threaten the entire ruling system.
The rulers of the ancient world recognized this dynamic.
Their solution was to enact widespread debt cancellation—a debt jubilee.
Debt jubilees acted as a societal pressure release valve when there were no other options.
The practice spread in the ancient world and became codified in different civilizations.
For example, the Book of Leviticus recognizes debt jubilees as the end of a 49-year biblical cycle—seven cycles of seven years.
I think this ancient practice will make a big comeback soon as government, corporate, and personal debt have all reached unbearable levels today.
In fact, the debt jubilees have already started… and the investment consequences will be profound.
More...
https://internationalman.com/articles/a-debt-jubilee-of-biblical-proportions-is-coming-soon-what-you-need-to-know/ |
| 103. Author: ZRX1200 | Date: Thu, 6/1/2023, 12:09PM EST | |
McCarthy must have read Dale Carnegie’s book.
What a joke. |
| 104. Author: rfenst | Date: Fri, 6/2/2023, 7:45AM EST | |
ZRX1200 wrote:McCarthy must have read Dale Carnegie’s book.
What a joke. He is a two-faced, slimy, self-aggrandizing, f'n liar, who sucks Trump's c@ck. At the bitter end, he cut a deal that might save him his current job because it was the best he thought he could get. He is no different than most of the rest of them. |
| 105. Author: RayR | Date: Fri, 6/2/2023, 9:59AM EST | |
Senate Passes Biden-McCarthy Debt Ceiling Bill 63-36 – UPDATE: Full Vote Breakdown Including 17 GOP SelloutsBy Cullen Linebarger Jun. 1, 2023 10:02 pm Quote:The Senate on Thursday night approved the debt ceiling bill “negotiated” by Speaker Kevin McCarthy and Joe Biden.
The vote tally was 63-36.
NEWS: 63-36, Senate gives final approval of a bill to suspend the debt limit until January 2025, ending a tense several weeks in Washington and a bitter partisan standoff that ultimately ended with a McCarthy-Biden deal that faced bipartisan support and opposition in both houses.
— Manu Raju (@mkraju) June 2, 2023
46 Democrats rubberstamped the bill along with 17 GOP sellouts. 30 Republicans stood with We the People along with 6 Democrats.
More...
https://www.thegatewaypundit.com/2023/06/senate-passes-biden-mccarthy-debt-ceiling-bill-63/ The Republican Debt-Ceiling "Deal" Is Exactly What We Expected06/01/2023 Ryan McMaken Quote:After countless predictions of economic armaggeddon and panicky entreaties to raise the debt ceiling with no strings attached, the Biden White House and Congressional Republicans agreed on a new budget deal this week that does virtually nothing at all to change the status quo. The deal in no way returns federal spending to pre-covid levels. At best, the deal does "limit" spending by placing tentative caps on spending which—assuming they are not abandoned in the face of some new economic or geopolitical "emergency"—allow for a one-percent increase in spending each year over the next two years. At the same time, however, the deal abolishes the debt ceiling altogether until 2025. As summarized by the Associated Press:
The agreement would keep nondefense spending roughly flat in the 2024 fiscal year and increase it by 1% the following year, as well as suspend the debt limit until January 2025 — past the next presidential election.
And, according to NBC news:
The agreement includes spending caps for the next two years to set up the appropriations process. In fiscal year 2024, it would limit military spending to $886 billion and nonmilitary discretionary spending to $704 billion. In fiscal year 2025, those numbers would rise to about $895 billion and $711 billion.
What all this really means is that discretionary spending (which is generally around $2 trillion in miscellaneous and military spending) will continue upward without even a meaningful pause. Meanwhile, mandatory spending—such as Social Security, Medicare, and Medicaid is in no danger of actually going down. At a minimum we can expect annual increases of $60 billion or more each year in the near future. That's the most "thrifty" scenario. After all, it's only a matter of time until there's a recession and thus a need for "stimulus" and bailouts. Or, Washington may decide the US needs another full-blown war. At that point, all bets are off when it comes to spending.
This miniscule "cut" in spending is more or less what we here at mises.org predicted would happen. There was never any doubt that the debt ceiling would be raised yet again, and of course, there would be no real cuts to overall federal spending. This is what has happened. Moreover, total spending remains more than a trillion dollars above where it was in 2019, even after the Trump administration was racking up near-trillion-dollar deficits.
More...
https://mises.org/wire/republican-debt-ceiling-deal-exactly-what-we-expected |
| 106. Author: RayR | Date: Sun, 6/4/2023, 10:21AM EST | |
Read this because you won't find this kind of vivid analysis from Paul Krugman Speaker McCarthy’s Rotten Deal…By David Stockman David Stockman's Contra Corner June 3, 2023 Quote:If there was ever any doubt, now we know: Speaker Kevin McCarthy has straw for brains and a Twizzlers stick for a backbone. He was within perhaps a few days of breaking the iron grip of America’s fiscal doomsday machine, yet inexplicably he turned tail and threw in the towel for a mess of fiscal pottage.
We are referring, of course, to the impending moment when the US Treasury would have been forced to forgo scheduled vendor or beneficiary distributions in order to preserve incoming cash for interest payments and other priorities. That act of spending deferrals and prioritization would have obliterated the debt “default” canard once and for all, paving the way for a nascent fiscal opposition to regain control of the nation’s wretched public finances.
And there should be no doubt that we were damn close to that crystalizing moment. After all, Grandma Yellen herself forewarned just last week on Meet The Press that absent a debt ceiling increase, the Treasury Department would have to prioritize payments and leave some bills unpaid:
“And my assumption is that if the debt ceiling isn’t raised, there will be hard choices to make about what bills go unpaid,” Yellen said on NBC’s “Meet the Press…….“We have to pay interest and principle on outstanding debt. We also have obligations to seniors who count on Social Security, our military that expects pay, contractors who’ve provided services to the federal government, and some bills have to go unpaid….”
And, of course, that prioritization and deferral could have been easily done. Federal receipts are now running about $450 billion per month, meaning that after paying $61 billion of interest, $128 billion for Social Security, $26 billion for Veterans and $47 billion for military pay and O&M there would still be $188 billion left to cover at least 50% of everything else.
That is to say, no sweat with respect to servicing the public debt, and a lot of sweat among the constituencies that would have had payments delayed or reduced.
So, yes, the GOP has truly earned the Stupid Party sobriquet. No ifs, ands or buts about it.
More...
https://www.lewrockwell.com/2023/06/david-stockman/speaker-mccarthys-rotten-deal/ Tom Woods Show
06/03/23
Ep. 2343 How to Negotiate with Joe Biden, with David Stockmanhttps://youtu.be/L4RMpxwxqrQ |
