http://www.politico.com/news/stories/1110/45572.html
The reality of the United States federal deficit makes this idea one for serious consideration. Rather than pay them to stay out of Washington, lets just cut their pay as well as their benefits to a part time position, and the time they do need to be in session, should only be used for the most serious of considerations.
Lobbyist should be against the law period. The dominance of their bought positions, has ruined everything this nation stands for.
It's time for a change to put this nation back on an even footing, and Governor Jindal's proposal does just that.
Louisiana Republican Gov. Bobby Jindal wants members of Congress to stay home more often.
“We used to pay farmers not to grow crops, let's pay congressmen to stay out of Washington, D.C.,” Jindal said in an interview with Human Events. “Mark Twain said that our liberty, our wallets were safest when the legislature's not in session.”
Jindal, himself a former congressman, said once elected, many lawmakers become entrenched in Washington and become the very people they once campaigned against
Showing posts with label Federal deficit. Show all posts
Showing posts with label Federal deficit. Show all posts
Wednesday, November 24, 2010
Sunday, November 7, 2010
Citizens against government waste.
http://www.youtube.com/watch?v=OTSQozWP-rM&feature=player_embedded
All to true except for one point, The FED now holds more of the United States debt than China as of last week according to Zerohedge.
Ben is buying up Timmy's treasures and Timmy's treasures are the government's waste.
And why isn't MSM screaming from the top of their lungs about this crap?
Because they're bought off.
All to true except for one point, The FED now holds more of the United States debt than China as of last week according to Zerohedge.
Ben is buying up Timmy's treasures and Timmy's treasures are the government's waste.
And why isn't MSM screaming from the top of their lungs about this crap?
Because they're bought off.
Thursday, November 4, 2010
QE2 and the Federal deficit
http://market-ticker.org/
One plus one is two.
So if we average another 1.62 trillion next year for the federal deficit,
and the QE2 damage of $1,560 billion, or 1.56 trillion when converted into it's lowest proper form, the additional extra damage that will be added to the Nation Deficit will only be another mere 3.18 trillion.
Now add that, to yesterdays total $13,742,152,458,274.
Rough guesstimate: 17 Trillion
Government Debt And Deficit Update:
October is now in the books from a Treasury perspective
TBAC Results - READ THIS (QE2 related)
The TBAC (Treasury Borrowing Advisory Report) is usually quite dry and boring.
Well, it is this time too.
Except for one small piece....
One plus one is two.
So if we average another 1.62 trillion next year for the federal deficit,
and the QE2 damage of $1,560 billion, or 1.56 trillion when converted into it's lowest proper form, the additional extra damage that will be added to the Nation Deficit will only be another mere 3.18 trillion.
Now add that, to yesterdays total $13,742,152,458,274.
Rough guesstimate: 17 Trillion
Government Debt And Deficit Update:
October is now in the books from a Treasury perspective
We borrowed $107.2 billion more last month. This follows $112 billion in September, and brings the total thus far for this calendar year to $1.357 trillion.
This is a run rate of $1.629 trillion for the year.
TBAC Results - READ THIS (QE2 related)
The TBAC (Treasury Borrowing Advisory Report) is usually quite dry and boring.
Well, it is this time too.
Except for one small piece....
The presenting member stated that the market expects the Federal Reserve to purchase $100 billion per month, as well as $30 billion per month in MBS reinvestments. This will total $1,560 billion in Treasury purchases over the next year. The member stated, however, that market participants believe the Fed will leave the status of QE2 open ended, with purchases ultimately dependent on economic conditions. The presenter also noted that the program should last six months to two years.
Monday, September 20, 2010
Coffman Introduces Federal Furlough Bill to Save Taxpayers $5.5 Billion
http://coffman.house.gov/index.php?option=com_content&view=article&id=355:september-16-2010-coffman-introduces-federal-furlough-bill-to-save-taxpayers-55-billion&catid=36:latest-news&Itemid=10
Oh welcome to the real world!
It would seem Coffman actually understands that we have a situation getting ready to blowup in our faces from excessive spending that we don't have.
I would think they would also start cutting out all of that fat that Congress has been use to sucking up to, such as excessive travel to, the booze bills, Nancy's private plane, and just off the top of my head.
Rep. Mike Coffman (R-CO) this week introduced a bill that would subject federal civilian employees to a two week furlough in 2011 and reduce salaries of members of Congress by 10 percent saving taxpayers more than $5.5 billion. The bill, H.R. 6134, is a one year measure to reduce federal spending and combat the unsustainable deficit spending in Washington.
Introducing his bill, Coffman remarked, “Currently, at least 24 states, and nearly three quarters of a million workers, are undertaking a budget-cutting maneuver that I believe we should institute at the federal level: short term employee furloughs. These states, across the nation, along with city and county government counterparts, recognize that occasional worker furloughs are necessary to cut budgets and hold down spending. It also has the benefit of ensuring that federal workers are not sheltered from the realities of life in today’s economy.”
Oh welcome to the real world!
It would seem Coffman actually understands that we have a situation getting ready to blowup in our faces from excessive spending that we don't have.
I would think they would also start cutting out all of that fat that Congress has been use to sucking up to, such as excessive travel to, the booze bills, Nancy's private plane, and just off the top of my head.
Rep. Mike Coffman (R-CO) this week introduced a bill that would subject federal civilian employees to a two week furlough in 2011 and reduce salaries of members of Congress by 10 percent saving taxpayers more than $5.5 billion. The bill, H.R. 6134, is a one year measure to reduce federal spending and combat the unsustainable deficit spending in Washington.
Introducing his bill, Coffman remarked, “Currently, at least 24 states, and nearly three quarters of a million workers, are undertaking a budget-cutting maneuver that I believe we should institute at the federal level: short term employee furloughs. These states, across the nation, along with city and county government counterparts, recognize that occasional worker furloughs are necessary to cut budgets and hold down spending. It also has the benefit of ensuring that federal workers are not sheltered from the realities of life in today’s economy.”
Tuesday, January 26, 2010
CBO: Federal deficit projected at $1.35T
http://finance.yahoo.com/news/CBO-Fe...sset= &ccode=
Yes we're all fully aware that they see it, and their solution to fix it is to raise the National debt limit and reward themselves with another 1.9 trillion dollars just to get by.
It's time to audit the government as well as the FED.
I'm sure if we did we'd see very much the same extravagant waste and personal pilfering that the UK did
Congressional Budget Office sees 2010 deficit of $1.35 trillion as economy lags
Yes we're all fully aware that they see it, and their solution to fix it is to raise the National debt limit and reward themselves with another 1.9 trillion dollars just to get by.
It's time to audit the government as well as the FED.
I'm sure if we did we'd see very much the same extravagant waste and personal pilfering that the UK did
Congressional Budget Office sees 2010 deficit of $1.35 trillion as economy lags
Tuesday, December 22, 2009
Senate rejects sleight of hand that would add to federal deficit
http://seattletimes.nwsource.com/html/opinion/2010125825_broder25.html?prmid=obnetwork
How to create an illusion 101, in the course of "Your Senate works for You"
For those majoring in "Bullshit" politics
Economic recovery is job one, but budgetary responsibility is job two, writes David S. Broder. A Senate floor vote to kill some budgetary sleight of hand makes it clear the issue of the federal debt won't wait.
How to create an illusion 101, in the course of "Your Senate works for You"
For those majoring in "Bullshit" politics
Economic recovery is job one, but budgetary responsibility is job two, writes David S. Broder. A Senate floor vote to kill some budgetary sleight of hand makes it clear the issue of the federal debt won't wait.
Friday, December 18, 2009
Karl's take on Greenspan
http://market-ticker.denninger.net/archives/1751-Greedspan-Stick-A-Sock-In-It.html
Check out the bold. How much a month does go out to social security?
And how many months will 50 billion take it?
In answer to a question about why rising debt is a concern, Greenspan said: “The critical issue that economists worry about” is the spiral that occurs with ever-rising debt and debt service, often followed by higher interest rate. As a consequence of that, “the debt service becomes explosive and that moves directly into the budget deficit,” he added.
Yeah yeah. If you read his testimony what you will find missing is any acknowledgment of exactly how it is that government gets the idea that it can run more than a trillion dollars in deficits in the first place!
I'll tell you how, since "Sir" Alan won't: You find a central banker that will kneel before Congress whenever the members drop their drawers by pumping so much liquidity into the system that real rates are in fact NEGATIVE, thereby LITERALLY paying people to borrow.
Of course the government has never met a free money handout it didn't like, and political will for restraint is ZERO when faced with such a circumstance.
The solution to this is really quite simple: Don't do that sort of stupid crap!
We continue to challenge Einstein's General Theory of Insanity - you know, one of my favorite definitions?
Doing the same thing over and over but expecting a different result.
The 900-lb Gorilla that stomped his first piece of china was found in the $290 billion debt limit increase - something that AP reported (perhaps accidentally):
Republicans - who helped supply votes to increase the debt ceiling just last year - unanimously opposed the legislation, which is required to issue new debt to pay for federal operations and deposit up to $50 billion into the Social Security trust funds.
Uh, Social Security wasn't supposed to go negative - that is, require actual general fund expenditures - for another 20 years!
But now it was - and that's a major problem. How much is Social Security and Medicare actually in the hole here? I don't know - but the fact that we're 20 years in front of where we should be in this regard is very ominous.
Check out the bold. How much a month does go out to social security?
And how many months will 50 billion take it?
In answer to a question about why rising debt is a concern, Greenspan said: “The critical issue that economists worry about” is the spiral that occurs with ever-rising debt and debt service, often followed by higher interest rate. As a consequence of that, “the debt service becomes explosive and that moves directly into the budget deficit,” he added.
Yeah yeah. If you read his testimony what you will find missing is any acknowledgment of exactly how it is that government gets the idea that it can run more than a trillion dollars in deficits in the first place!
I'll tell you how, since "Sir" Alan won't: You find a central banker that will kneel before Congress whenever the members drop their drawers by pumping so much liquidity into the system that real rates are in fact NEGATIVE, thereby LITERALLY paying people to borrow.
Of course the government has never met a free money handout it didn't like, and political will for restraint is ZERO when faced with such a circumstance.
The solution to this is really quite simple: Don't do that sort of stupid crap!
We continue to challenge Einstein's General Theory of Insanity - you know, one of my favorite definitions?
Doing the same thing over and over but expecting a different result.
The 900-lb Gorilla that stomped his first piece of china was found in the $290 billion debt limit increase - something that AP reported (perhaps accidentally):
Republicans - who helped supply votes to increase the debt ceiling just last year - unanimously opposed the legislation, which is required to issue new debt to pay for federal operations and deposit up to $50 billion into the Social Security trust funds.
Uh, Social Security wasn't supposed to go negative - that is, require actual general fund expenditures - for another 20 years!
But now it was - and that's a major problem. How much is Social Security and Medicare actually in the hole here? I don't know - but the fact that we're 20 years in front of where we should be in this regard is very ominous.
Sunday, August 23, 2009
AP sources: $2 trillion higher deficit projected
http://finance.yahoo.com/news/AP-sources-2-trillion-higher-apf-2763511180.html?x=0&sec=topStories&pos=4&asset=&ccode=
The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.
The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.
If you have the time to look auction by auction at the treasury website:
http://www.treasurydirect.gov/instit...re/preanre.htm
and enought time to look at the FED buying in both coupons and MBSs at
http://www.newyorkfed.org/markets/po...&opertype=orig
You will find that in 2009 only in FED coupon purchases and treasury auctions the amount is already over 5.2 trillions so far.
No wonder why Obama is rising the # to 10 trillions, but it wouldn't be for the next 4-10 years.
The FED is monetizing the US debt grossly. The FED is using treasury and their primary dealers to launder the money.
The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.
The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.
If you have the time to look auction by auction at the treasury website:
http://www.treasurydirect.gov/instit...re/preanre.htm
and enought time to look at the FED buying in both coupons and MBSs at
http://www.newyorkfed.org/markets/po...&opertype=orig
You will find that in 2009 only in FED coupon purchases and treasury auctions the amount is already over 5.2 trillions so far.
No wonder why Obama is rising the # to 10 trillions, but it wouldn't be for the next 4-10 years.
The FED is monetizing the US debt grossly. The FED is using treasury and their primary dealers to launder the money.
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