Posted on May 7, 2023
Nevada treasurer calls the U.S. debt impasse a disturbing 'manufactured crisis'
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https://www.npr.org/2023/05/05/ [login to see] /even-with-efforts-to-raise-the-u-s-debt-ceiling-default-threats-impact-states
If President Biden and Congress fail to swiftly resolve a debt ceiling standoff, the federal government could default on its debt, running out of money to pay the bills as soon as June 1.
The Treasury Department says it's taking "extraordinary measures" to prevent a default, but some state treasurers worry about the impact on their budgets and residents.
Zach Conine, the state treasurer of Nevada, tells NPR's A Martinez on Morning Edition that the threat of default is affecting people's behavior. "Full faith and credit should be a promise that we don't need to wake up in the middle of the night thinking about."
If President Biden and Congress fail to swiftly resolve a debt ceiling standoff, the federal government could default on its debt, running out of money to pay the bills as soon as June 1.
The Treasury Department says it's taking "extraordinary measures" to prevent a default, but some state treasurers worry about the impact on their budgets and residents.
Zach Conine, the state treasurer of Nevada, tells NPR's A Martinez on Morning Edition that the threat of default is affecting people's behavior. "Full faith and credit should be a promise that we don't need to wake up in the middle of the night thinking about."
Nevada treasurer calls the U.S. debt impasse a disturbing 'manufactured crisis'
Posted from npr.org
Joe Biden
Budget
Congress
Government
Posted >1 y ago
Responses: 5
*sigh* ... both sides play football with the debt ceiling or budget when they are in charge of the House and the opposite party is in the White House. Little hope that the partisan brinksmanship of either side will stop, so the question is "who blinks first?".
What SHOULD happen is that both sides actually talk to each other and come to some sort of compromise, but in the political environment, each side just looks at the other's willingness to compromise as a weakness they can exploit.
As Dennis Goldford, a political scientist at Drake University in Iowa said, "Part of the coarsening of American politics has been that compromise has become a dirty word. If you make one move in the direction of your opponents, that's treason."
What SHOULD happen is that both sides actually talk to each other and come to some sort of compromise, but in the political environment, each side just looks at the other's willingness to compromise as a weakness they can exploit.
As Dennis Goldford, a political scientist at Drake University in Iowa said, "Part of the coarsening of American politics has been that compromise has become a dirty word. If you make one move in the direction of your opponents, that's treason."
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LCpl (Join to see)
SGT Gerald “Jerry” Harrell - My main interest is not who is fighting in the ring, but who is watching the fight from outside of it. Instigators, and countries wanting to propagate this war. If you follow me.
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MSgt Steve Sweeney
SFC John Davis - Proven? You didn't "proven" anything with your inane ramblings - "The Trump era set the record for most debt added in a single four-year presidential term" - currently equates to 25% of the full U.S. National Debt. Covid or not, the spending happened during the Trump administration, and now the Trumpublicans don't want to pay the bill because someone else is in the Oval Office... typical right-wing spinelessness. They often let their mpouths write checks that their ass can't cash.
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COL Randall C.
MSgt Steve Sweeney SFC John Davis A reminder to the both of you to keep it civil. Stick to attacking the position and not each other. I get it, you're both passionate partisans for your respective ideology, but at least TRY to keep it somewhat civil.
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LTC (Join to see)
1. The master plan by Republicans is to spend by your means.
2. Republicans did not open the border and let in 2 million plus illegals that will often not show up 5 years from now for their hearing on requesting asylum.
3. Republicans DID vote (sometimes )to add 7 billion to the US budget (Democrats wrote those bills) after Biden came into office but the Republicans did come with a plan to wheel and deal with the Biden administrations.
4. Democrats JFK and President Clinton on his second terms lowered income taxes and taxes on investments and Dividends. Ironically, Communist China has lower income tax and invetsment tax rates than what Brokeback President Biden proposes.
5. Putin's prices are actually Biden's Prices.
6. Republicans are not perfect but they have a budget plan some Democrats in the House voted with them.
6. Chuck Schumer wants to propose a bill having NO Debt limit through the end of this Brokeback Biden 4-year term kicking the can of disaster to Kamela Harris or to whomever wins in 2024.
2. Republicans did not open the border and let in 2 million plus illegals that will often not show up 5 years from now for their hearing on requesting asylum.
3. Republicans DID vote (sometimes )to add 7 billion to the US budget (Democrats wrote those bills) after Biden came into office but the Republicans did come with a plan to wheel and deal with the Biden administrations.
4. Democrats JFK and President Clinton on his second terms lowered income taxes and taxes on investments and Dividends. Ironically, Communist China has lower income tax and invetsment tax rates than what Brokeback President Biden proposes.
5. Putin's prices are actually Biden's Prices.
6. Republicans are not perfect but they have a budget plan some Democrats in the House voted with them.
6. Chuck Schumer wants to propose a bill having NO Debt limit through the end of this Brokeback Biden 4-year term kicking the can of disaster to Kamela Harris or to whomever wins in 2024.
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The ball is in President Broke- back Biden's Court.
Let us not forget how Germany went from four marks to the dollar to 400 marks to the dollar to 4 billion marks to the dollar due to inflation caused by paying reparations to the European victors and having no income the weak German Weimar Republic had an attempted overthrow of the Nazis in November of 1923. Hitler seized power in 1933 when the Great Depression came in.
The Democrats are playing a dangerous game of chicken and let's not forget the 1923 Weimar Republic 1 billion dollar banknote.
SGT (Join to see) LCpl (Join to see) SP5 Philip McClure SFC John Davis SFC (Join to see) Cpl Vic Burk COL Randall C.
In the 1970s, I had one of these high denomination banknotes given to me by my godfather who went to Germany. I don't know what happened to it.
Let us not forget how Germany went from four marks to the dollar to 400 marks to the dollar to 4 billion marks to the dollar due to inflation caused by paying reparations to the European victors and having no income the weak German Weimar Republic had an attempted overthrow of the Nazis in November of 1923. Hitler seized power in 1933 when the Great Depression came in.
The Democrats are playing a dangerous game of chicken and let's not forget the 1923 Weimar Republic 1 billion dollar banknote.
SGT (Join to see) LCpl (Join to see) SP5 Philip McClure SFC John Davis SFC (Join to see) Cpl Vic Burk COL Randall C.
In the 1970s, I had one of these high denomination banknotes given to me by my godfather who went to Germany. I don't know what happened to it.
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LTC (Join to see)
Correction, 1 billion Mark Bank. For a short time in germany, you need a wheelbarrows of money just to buy a loaf of bread.
COL Randall C. Cpl Vic Burk SFC (Join to see) SFC (Join to see) SFC John Davis SP5 Philip McClure SGT (Join to see)
Hopefully we'll not have devaluations like Mexico did in the 1980s.
COL Randall C. Cpl Vic Burk SFC (Join to see) SFC (Join to see) SFC John Davis SP5 Philip McClure SGT (Join to see)
Hopefully we'll not have devaluations like Mexico did in the 1980s.
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SFC (Join to see)
LTC (Join to see) - You should know better than to bring facts to a discussion with Progressives and Communists, they will always ask where is your proof? or they will just try to dismiss you by saying your argument just isn't valid...
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