The Latest Demand to Raise The Debt Ceiling

[LoveLife&Laughter]

[exedir]

All true, and also true something has to happen, maybe not now, but it will have to happen, changes in entitlements, mostly entitlements dear to the whatever is defined or thought of as the middle class in America.

Even if the "rich" were taxed to nothing, say the 5% were the 0% percent there still is not enough money to fund all the commitments that have been made, not even considering the commits that the next vote buying scheme comes up with by our politicians.  Ultimately the only way out is to grow out of this and that doesn't mean the Chinese economy.  It is the American economy that is challenged and going to be challenged now and in the future to grow anything like it did in the past.  To just refine and fix the American economy is not enough, it has to grow and grow vigorously  in order for the pie to be split with more for everyone, no matter what they're economical status is.

One of those growth factors that is now ongoing is energy, the promise of more and cheaper energy is the key to starting and keeping grown here at home, as the rest of the world struggles to keep their lights, heat and cooling on for the businesses of their economies.  Though China and India have the people, they don't have the resources to grow without getting it for somewhere and from someone else, the United States and North America does, have the energy and many of the basic commodities to keep and build businesses well into the future, if we develop and allow those resources to come on line.

[LoveLife&Laughter]

The social insurance programs have absolutely nothing to do with the debt nor the deficit.  I thought everyone knew that by now in spite of the right wing propaganda. 

What we have here is the usual idiotological attempt by the right to destroy any hint of normalcy that the rest of the western industrialized world has embraced and prospers. 

[exedir]

What?  

The national, state and local debt is create  by government action as the way to finance the shortfall of revenue as to expenditures.  It is primarily funded from trust funds and designated revenues held by federal, state and local agencies, mostly pension funds that must be invested in government debt.

It is also necessary, the ongoing financial system requires debt as the way to provide funds as cash, say, what the Quantitative Easing or QE is doing as done by the Federal Reserve, buying debt and throwing more currency into the system to help keep the credit markets liquid.

In fact, the idea is that with more debt, then there is more inflation, or devaluing of the dollar which is attempt to move money into other investments, and yes, it is complicated, and isn't currently working very well, but Wall Street loves it, Main Street not so much.

[LoveLife&Laughter]

Wall Street loves it as do political lackeys in their pocket.  Reagan/Bush41 and Cheney/Bush43 are good examples. Clinton and Obama both reduced spending and borrowing over their presidency long terms.  It seems to me Republicans produce huge debt so they can blame their Democratic successor and ruin their Presidency by cutting them off.  A good example is, like now.

[ProblemAgain]

[ProblemAgain]

just curious....who elected grover norquist? oh they didn't?? gee then he should shut the f up...

[LoveLife&Laughter]

I'm still trying to figure out why Republicans were elected.

Only kidding....

[ProblemAgain]

wave that little plastic flag made in china.....

Companies are stashing billions overseas

By Jeff Cox | CNBC – 3 hours ago

@cnbc on Twitter

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Washington politicians could slash the budget deficit by just tapping into the foreign profits of the top 20 American companies.

The upper tier of the Fortune 50 has burrowed away $743 billion in total profits in offshore accounts, a bounty that would yield about $119 billion for the Treasury, according to a study by NerdWallet Taxes.

With the budget deficit running at $642 billion, getting back some of that foreign-stashed cash could make a big dent.

While addressing the foreign tax havens has gained a lot of chatter, few elected officials have taken any action for fear of alienating corporate titans who can hold the key to national political careers.

(Read more: Apple's cash 'a little bit silly': Wilbur Ross )

"When you're talking about 10 percent of GDP in corporate offshore profits, that in my opinion is pretty significant," NerdWallet tax analyst Dana Lime said in an interview. "All this money offshore could be used to fund our government."

Among the leaders in offshore profits are General Electric (GE), Microsoft (MSFT) and Pfizer (PFE) (see chart).

http://finance.yahoo.com/news/companies-stashing-billions-overseas-...

[ProblemAgain]

it's not the workers that are shipping the jobs overseas....

Millions More Back Office Jobs Head Overseas

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By Richard Davies
@daviesabc
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Sep 13, 2013 7:55am

Morning Business Memo…

Anyone who has spoken with a customer service rep in India or an IT help-desk person in the Philippines knows that huge numbers of American back office jobs have been shipped overseas. New research by The Hackett Group says the trend is far from over. “Large companies in North America and Europe are now losing over 250,000 jobs each year in IT, finance, and other key business services areas,” says the research. The report estimates that by 2017 half of all back office IT, Human Resources and Finance jobs in big companies that existed a recently as 2002 will have disappeared – a loss over well over 3.5  million jobs. “Even this assessment could be optimistic, as it factors in job creation due to economic growth,” says Hackett. Technology, competition and globalism are driving the changes.

http://abcnews.go.com/blogs/business/2013/09/millions-more-back-off...