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Government funny for the day
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3 jump to present time.... 10/16/2013, 7:55 am
Guest
Guest
Especially since the tea baggers have taken the country hostage because of their temper-tantrum. Now, absolutely nothing gets done. The 112th and 113th Congresses will make history as being the two most unpopular, unproductive, and most polarizing Congresses ever.Joanimaroni wrote:PACEDOG#1 wrote:
What do these two Congresses have in common?
The tea baggers were in control of both, and Barack Obama was in neither.
Be honest for once, and place the blame where it should be:
your precious incompetents who once called themselves the tea baggers.
Thanks for taking time to read my post.
4 Re: Government funny for the day 10/16/2013, 8:08 am
Guest
Guest
The govt borrows more than two million dollars a minute... do you think that can continue without consequence?
5 Re: Government funny for the day 10/16/2013, 8:16 am
Joanimaroni
Apparently.PkrBum wrote:The govt borrows more than two million dollars a minute... do you think that can continue without consequence?
6 Re: Government funny for the day 10/16/2013, 12:10 pm
othershoe1030
The point is, of course, that this is not the time to make spending and budgeting changes. That should be done when they vote on bills and the budget and figure out what to spend the money on. Now that the bill has come in for things congress has already okay'd they are shocked at the bottom line. Happens to some folks when they get their credit card statement?PkrBum wrote:The govt borrows more than two million dollars a minute... do you think that can continue without consequence?
Fine, we understand the concept but when you get the bill you don't refuse to pay it; you vow to not charge so much in the future. That's the way adults usually handle their personal finances.
I've heard that the shutdown is costing a huge sum every day, has tarnished the country's credit standing, put the stock market in a dither, caused untold stress to households all over the nation and some tea party people still think this is the way to run the country? Please.
7 Re: Government funny for the day 10/16/2013, 12:59 pm
Guest
Guest
As long as the govt is still collecting taxes there is no reason to default payment on the debt interest or bonds.othershoe1030 wrote:The point is, of course, that this is not the time to make spending and budgeting changes. That should be done when they vote on bills and the budget and figure out what to spend the money on. Now that the bill has come in for things congress has already okay'd they are shocked at the bottom line. Happens to some folks when they get their credit card statement?PkrBum wrote:The govt borrows more than two million dollars a minute... do you think that can continue without consequence?
Fine, we understand the concept but when you get the bill you don't refuse to pay it; you vow to not charge so much in the future. That's the way adults usually handle their personal finances.
I've heard that the shutdown is costing a huge sum every day, has tarnished the country's credit standing, put the stock market in a dither, caused untold stress to households all over the nation and some tea party people still think this is the way to run the country? Please.
I'm not sure how closing about 15% of the govt would actually be costing us more... but if that can be done... I'm not surprised that our enormous bloated govt is able to do it... lol. The stock market isn't in a dither... it's just a few hundred points from an all time high. Now threaten to cut the federal reserve printing dollars that we will owe in taxes... that sends the market into a dither. If anything... the market understand the silliness of this "crisis". The average person?.. not so much apparently.
8 Re: Government funny for the day 10/16/2013, 2:06 pm
othershoe1030
Here's what the numbers are from people who know about these things.PkrBum wrote:As long as the govt is still collecting taxes there is no reason to default payment on the debt interest or bonds.othershoe1030 wrote:The point is, of course, that this is not the time to make spending and budgeting changes. That should be done when they vote on bills and the budget and figure out what to spend the money on. Now that the bill has come in for things congress has already okay'd they are shocked at the bottom line. Happens to some folks when they get their credit card statement?PkrBum wrote:The govt borrows more than two million dollars a minute... do you think that can continue without consequence?
Fine, we understand the concept but when you get the bill you don't refuse to pay it; you vow to not charge so much in the future. That's the way adults usually handle their personal finances.
I've heard that the shutdown is costing a huge sum every day, has tarnished the country's credit standing, put the stock market in a dither, caused untold stress to households all over the nation and some tea party people still think this is the way to run the country? Please.
I'm not sure how closing about 15% of the govt would actually be costing us more... but if that can be done... I'm not surprised that our enormous bloated govt is able to do it... lol. The stock market isn't in a dither... it's just a few hundred points from an all time high. Now threaten to cut the federal reserve printing dollars that we will owe in taxes... that sends the market into a dither. If anything... the market understand the silliness of this "crisis". The average person?.. not so much apparently.
While the U.S. government shutdown may merely be an afterthought or an inconvenience for some people, it's costing the economy and taxpayers plenty.
So how much does the government shutdown cost?
The daily tab for the government shutdown is a whopping $160 million.
The shutdown cost some $1.6 billion in lost output from the $15.7 trillion U.S. economy in its first week alone, according to global market research firm IHS Inc.
Bloomberg reported that two days into Week 2, the government shutdown cost equaled $2 billion in economic damages - the same amount that heavy rains, flash flooding, and mudslides in 17 Colorado counties cost the state last month.
http://moneymorning.com/2013/10/14/how-much-does-the-government-shutdown-cost/
And related articles. Your comment that shutting down 15% of the government couldn't possibly COST us money would be true in a "common sense" sort of way but in the world of finance and government machinery etc. it actually does cost money.
Related Articles:
Bloomberg:
Shutdown Costs at $1.6 Billion with $160 Million Each Day
Business Insider:
Goldman: Government Shutdown Could Shave 0.5% of Q4 GDP
The New York Times:
Shutdown Impact: 13 Days After the Federal Government Closed, Affects Are Felt Across Many Agencies
9 Re: Government funny for the day 10/16/2013, 9:44 pm
othershoe1030
In case there is any doubt as to whether or not this Republican tantrum has cost the economy of this country, please read the article. The sorry thing about all this loss is that there was no need for it. There is a procedure in place for working out budget agreements.
The government shutdown has so far cost the US economy $24bn – or $1.5bn a day, ratings agency Standard & Poor’s said on Wednesday.
The argument over the government shutdown, now in its 16th day, and over raising the US’s debt ceiling, appeared to have come to a short-term resolution Wednesday as Congress rolled out a plan to fund federal agencies and extend America's borrowing authority into early next year.
The news of the deal boosted stock markets. S&P warned, however, that the political impasse had shaved at least 0.6% off US GDP on an annualized basis for the fourth quarter of 2013. The cut is equivalent to taking $24bn out of the economy.
S&P triggered selloffs on stock markets around the world in 2011 when it downgraded US debt during the previous row over raising the debt ceiling. This week rival Fitch warned that it, too, had turned negative on US credit and was considering a downgrade.
http://www.theguardian.com/business/2013/oct/16/government-shutdown-has-cost-us-economy-15bn-a-day-sp-says
The government shutdown has so far cost the US economy $24bn – or $1.5bn a day, ratings agency Standard & Poor’s said on Wednesday.
The argument over the government shutdown, now in its 16th day, and over raising the US’s debt ceiling, appeared to have come to a short-term resolution Wednesday as Congress rolled out a plan to fund federal agencies and extend America's borrowing authority into early next year.
The news of the deal boosted stock markets. S&P warned, however, that the political impasse had shaved at least 0.6% off US GDP on an annualized basis for the fourth quarter of 2013. The cut is equivalent to taking $24bn out of the economy.
S&P triggered selloffs on stock markets around the world in 2011 when it downgraded US debt during the previous row over raising the debt ceiling. This week rival Fitch warned that it, too, had turned negative on US credit and was considering a downgrade.
http://www.theguardian.com/business/2013/oct/16/government-shutdown-has-cost-us-economy-15bn-a-day-sp-says
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