[Subjectivist]

$this->bbcode_second_pass_quote('ohanian', 'W')hy don't Trump just print 20 coins at $1 trillion dollar a coin and deposit it at the Federal Reserve?

Debt? What debt? Trump can just pay back $20 trillions worth of debt with twenty coins

http://www.telegraph.co.uk/finance/financialcrisis/9784898/US-seriously-considering-1-trillion-coin-to-pay-off-debt.html

[Revi]

We kicked the can down the road to the middle of December. Anyone know what will happen then? Will we have a huge battle that ends up being the Grinch that stole Christmas? What do you think? Will they pass raising the debt ceiling?

[Revi]

Here's a proposal to scrap the debt ceiling altogether:

http://thehill.com/blogs/floor-action/s ... bt-ceiling

[Plantagenet]

$this->bbcode_second_pass_quote('Revi', 'H')ere's a proposal to scrap the debt ceiling altogether:

http://thehill.com/blogs/floor-action/s ... bt-ceiling

[Revi]

The Republican budget runs it up about a Trillion a year! That's even with kicking people off of insurance. They will end up putting the deficit up at least another 4 trillion, and probably more. Considering that we just had 600 billion in damage this month from the multiple hurricanes we are already in the hole. I really think we should up the debt ceiling, but be aware that this is going to end at some point, and maybe we should figure out a way to default gracefully and turn into a different place. It's like planning for the boat to sink. Good idea to have some kind of a lifeboat! Maybe establish some kind of sustainable communities now? When it goes down it's going to be a lot like Puerto Rico now. A few solar panels and some kind of a way to get water can make all the difference...

[Revi]

We are up against another debt ceiling, but it looks like they might fix it until the middle of January with this:
https://www.politico.com/story/2017/12/ ... own-304923

It's just a really temporary fix. Can you believe that they have no problem upping the debt ceiling nowadays?

[Plantagenet]

$this->bbcode_second_pass_quote('Revi', 'T')he Republican budget runs it up about a Trillion a year!

[Outcast_Searcher]

$this->bbcode_second_pass_quote('Plantagenet', '')$this->bbcode_second_pass_quote('Revi', 'T')he Republican budget runs it up about a Trillion a year!

[GHung]

$this->bbcode_second_pass_quote('Outcast_Searcher', '.')......
It's pretty laughable as the editors scream about the projected $1 to $1.5 trillion in additional debt projected over the next decade (always pretending that higher growth rates are impossible) -- and with the other side of their mouths complain about nearly every attempt to curb a tax preference (and reduce the budget deficit) as though it's the end of the world.

I'm no Trump fan and I'm a moderate, but the liberals really are way over the top on the tax package issue. There are pros and cons for most people, and overall it's likely mostly a "meh", after all the compromising that was done to get the sausage making done.

[Plantagenet]

$this->bbcode_second_pass_quote('GHung', '
')
In my case, I simply don't like bald-face liars. My own Congressman, super deficit hawk Mark Meadows (chairman of the "Freedom" caucus) swore to my face at a town hall meeting he would NEVER support a tax bill that even had a chance of raising the deficit. He LIED. Bob Corker, next door in Tennessee, who I had a bit of respect for, swore the same thing. He lied. At least Corker has enough sense to not run again (or so he says). Meadows prefers to shut the government down while giving his business buddies tax cuts. He did it before, so I don't doubt he'll do it again, even if it costs his district $millions like it did last time. It's a fairly poor rural district that can't afford these liars' games.

[Newfie]

Is growth good or bad for humanity?

Short term?

Long (generational and more) term?

[onlooker]

Much ado about nothing. Political posturing We all know US is going to keep borrowing

[Revi]

The debt ceiling doesn't matter until it does. I wonder if it will pass? I think they'll kick the can down the road a little until the middle of January, since it's attached to hurricane relief, and who wouldn't vote for that?

It's the middle of January we need to watch. They might be able to make it to March with "extraordinary measures".

That's when it gets interesting...

[Cog]

What extraordinary circumstance would prevent them from raising the debt ceiling? Nothing comes to mind. As long as the government can pay the interest on the debt, this show will continue.

[Revi]

"Extraordinary measures" is what they say to borrow the G Fund from Government pensions.

https://federalnewsradio.com/tsp/2017/1 ... t-ceiling/

It's already started as of around December 9th!

From the above:
"Even though the federal government maxed out its “debt ceiling” limit to borrow new funds on or around Dec. 9, according to Congressional Budget Office estimates, the Treasury Department can continue to borrow through these extraordinary measures until it runs out of cash in March or April 2018. Congress is expected to vote on extending the debt ceiling around that time."

[GHung]

$this->bbcode_second_pass_quote('Cog', 'W')hat extraordinary circumstance would prevent them from raising the debt ceiling? Nothing comes to mind. As long as the government can pay the interest on the debt, this show will continue.

[Revi]

Yes, we're in for some interesting times. I guess the sticking point is the defense spending now:

http://www.zerohedge.com/news/2017-12-2 ... wn-weekend

From the above:
"In the House, the CR will likely face unanimous Democratic opposition because it doesn’t address a host of Democratic priorities, including immigration, money for the opioid crisis and a boost for non-defense spending caps.

Furthermore, Republicans definitely don’t have the votes to counter a filibuster in the Senate. And with defense hawks and conservative lawmakers joining together in opposition, it’s unlikely the CR in its current form could even pass the House.

So with the clock running out, the House Rules Committee is set to meet early Thursday morning to prepare both the CR and the disaster relief bill for floor votes later in the day.

But given the sheer number of competing interests needing to be squared, it’s likely that an eventual vote on the CR will go down to the wire. Mitch McConnell and Paul Ryan have repeatedly promised that a Christmas shutdown will be averted, even if the political brinksmanship must continue into the early hours of Saturday morning, or even beyond...

At this point, it’s still not clear why Ryan and McConnell are so confident. President Donald Trump has reportedly mused that a shutdown could benefit Republicans as voters would blame Democrats for opposing the essential funding bill."

[Plantagenet]

I'm more concerned about the sticking point is in the Senate, where the Rs need ca. 8 D votes to overcome a filibuster by the Ds and pass the stopgap government funding bill.

Now that the Rs have united to pass the tax cuts they can probably unite to vote to fund the goverment. But If there aren't 8 Ds willing to put their country ahead of their party, then the Ds are going to shut down the government.

Cheers!

[GHung]

$this->bbcode_second_pass_quote('Plantagenet', 'T')he MSM isn't reporting on it, but another sticking point is in the Senate, where the Rs need ca. 8 D votes to overcome a filibuster by the Ds and pass the stopgap government funding bill.

If there aren't 8 Ds willing to put their country ahead of their party, then the Ds are going to shut down the government.

Cheers!

[Revi]

It may take a while to affect us, he says hopefully...