U.S. Gov Shutdown Reboot: Countdown To The Shutdown, Part Deux

[lukep]

BluAffiliate: Agreed 110%. There is only one way to fix any of this shit anyhow, no matter what your political leanings: Stop all corporate lobbying. -Anything else is pointless, and it won't take a 2nd amendment solution to do this. (Although a new amendment like the one mentioned here would do the trick.)

 

[BluAffiliate]

The only real way to fix this problem without a major upheaval in society is simple. It's been done plenty of times in the past: print money to make debts owed worthless. The United States owes 13 trillion? Print several trillion dollars over time and water down the debt until it becomes meaningless/sustainable. I believe that's what we're doing now anyway.

The trick is not to do it too quickly/abruptly, which would make the dollar worthless and destroy the confidence in our government.

 

[lukep]

The only real way to fix this problem without a major upheaval in society is simple... print money to make debts owed worthless.

The trick is not to do it too quickly/abruptly, which would make the dollar worthless and destroy the confidence in our government.

That won't work in this case because the 14 Trillion is going to be 14 Quadrillion before people on this board retire.... And that's NOT assuming much if any inflation. Our debt is still going to outpace whatever pace they could try to set for this 'fix.'

And even if it didn't outpace it, this would only fix that one problem at the cost of creating many more. No my friend, the bottom line is we have to STOP INCURRING DEBT and become some kind of PROFITABLE.

Yes, I know a profitable government is a bad thing, much like the corporations I so hate, but perhaps if it was a temporary mandate of some kind that is lifted once we have build up a reserve of 1 Trillion or something... Or we could afford to buy our way back onto the Gold Standard.

And until the corporations are stopped doing the 1,001 evil things they are doing to us all daily, we'll never, ever stop generating far more debt than we can handle.

So going forward, the best way to cure America's ills would be to:

1. Ratify an amendment that forbids Corporations from lobbying the government in any shape, form, or fashion. (And endure the recession that follows when half of them move their HQs to Australia...)

2. Have the newly-elected, non-corporate-sponsored legislature create bills that Create wealth for the states and the country. -Perhaps they could simply take over the wealth that was going directly to corporations...

3. When the federal checkbook starts writing good checks again, have them start buying precious metals and other resources that we can base our money on again.

4. (Not necessarily the 4th to be started) Pay teachers for performance, and nothing else at all.

5. When our money is back on the gold standard or better, and all foreign debts paid off (yeah, China too) simply remove the profit-making parts of the government and start letting corporations come back into those sectors.

Balance restored; America is respectable again. All problems solved.

 

[JakeStratham]

Here it comes (link):

Treasury Secretary Timothy Geithner said Thursday that Congress will act to raise the debt ceiling because lawmakers recognize the major consequences of not doing so.

Here's a little positioning from Geithner to get Republicans on board:

Publicly and privately, congressional Republicans have indicated they understand the implications of not raising the debt ceiling, Geithner said.

Pushed further, Geithner said that “they would own responsibility for that miscalculation” if the ceiling is not hiked.

And the coup de grâce:

Geithner added that markets have confidence that Congress will cut deficits, pointing out the low interest rates the U.S. pays on its debt. “The world basically believes that problems are manageable, and the system will solve it,” he said.

Wait. What? lol

 

[JakeStratham]

Update for any who care...

Today from CNN:

Standard & Poor's lowered its outlook for the nation's long-term debt Monday...

... The outlook means that there is a one-in-three likelihood that it could lower the long-term rating on the United States within two years, S&P said.

Chuckle from the Mises blog:

To anyone familiar with Austrian Economics, this news is akin to hearing that the Earth is round...

Indeed.


Both POTUS and the GOP have plans to repair the damage. (POTUS's plan, GOP's plan) Both are band-aids. We'll have the same problems in the future.


Notable quotables from CNN yesterday:

"If you're going to ask this Congress to raise the debt ceiling, there's got to be something structural on the spending side," added Rep. Joe Walsh, R-Illinois

lol okay. Thanks for the insight Joe.

"Congress will raise the debt ceiling," Geithner told ABC's "This Week" program. "I sat there with them and they said, 'We recognize we have to do this.' "

---

"If you take it too close to the edge, then they'll say, 'What are they doing?' " Geithner noted, adding: "There is no responsible person that would take" that kind of risk.

For comic irony, Geithner's doing better than Sheen.