Posted on 04/26/2012 8:58:46 AM PDT by notaliberal
* Democrats don't understand THE DEBT CEILING
* Republicans don't understand THE DEBT CEILING
* Liberals don't understand THE DEBT CEILING
*Conservatives dont understand THE DEBT CEILING
* NO ONE understands THE DEBT CEILING
SO - Allow me to explain... Let's say you come home from work and find there has been a sewer backup in your neighborhood.
Your home has sewage all the way up to your ceilings. What do you think you should do? Raise the ceilings or pump out the shit?
Your choice is coming this November. Don't miss the opportunity.
You can imitate Obama and borrow more sewage
You can imitate Obama and borrow more sewage
You forgot about wrapping it in a pretty package running fast before the sucker figures out what he bought ...
(That'll take a lot more than replacing a few elected officials, whole departments should be cleared out.)
Neither. If you’ve got sewage up to the ceiling ... you move out.
SnakeDoc
I thought you were going to explain it in simple terms.
Lol
When they vote to raise the debt limit, they are voting to allow a certain dollar volume of real debt that is contractually committed. Is that correct?
I would like to know what the terms are of our borrowed debt and the finite transaction details. There is an enourmous opportunity for miniscule fraud that amounts to millions per transaction. I suspect that currency never is actually shipped to the US, it’s paper and electronic IOUs. Further, the government issues electronic credits to agencies (or people) to spend. The agency contracts out its spending to others (vendors, contractors, consultants, people, etc.) Those entities send invoices to the treasury which just writes a check to the contractor/vendor. The contractor/vendor deposits the check. The bank calls up the treasury and tells them how much money then need to make good on the check with money barrowed from China.
At what point is the expenditure considered an actual debt that must be repaid to China? When the bond is purchased on paper? Or when the check is cashed by the vendor?
After answering that question, can you see all the steps that are susceptible to fraudulent spending?
Shhhhhh. It’s a good thing that the political/regulator busybodies don’t understand it. They’ll lose their incomes during the default process and will no longer have money or time to rob us through politics.
Toughen up. Avoid personal spending. Learn to fix and make a few useful things as a hobby. Starve the B.
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