Glazed Economy

Good morning my people. Time for the news. lol, I would just like to share with you the humor in my head. It goes a little something like this:

Quote :

NEW YORK (CNNMoney) -- Social Security payments aren't the only federal lifeline that could grind to a halt if the debt ceiling impasse continues beyond Aug. 2.
The federal government supports myriad safety net programs, such as unemployment insurance, tuition grants, food stamps, child care subsidies and housing assistance. That's not to mention the nation's massive health insurance programs: Medicare and Medicaid.

Supports? The FED supports what? Seems to me that I paid unemployment and SS out of MY paycheck to the FED. What do you mean the FED spent all that trust money years ago? I still paid my part out of my little dollars for the INSURANCE. These are not "safety net" programs, where the hell did that come from?

Quote :

All told, the federal government should distribute nearly $145 billion in lifeline funds next month, according to the Bipartisan Policy Center. A total of $306.7 billion in federal payments is on the hook in August.
"You've got just a huge number of people who, in one way or another, interact with the federal government," President Obama said Friday night when he announced that House Republicans had pulled out of the debt talks.
But many of these checks will not go out if an agreement isn't reached.

This is CNN folks, and yes they can make it up, that's all they do, creative journalistic fiction. Just what is the difference between a "Federal Payment" and "Lifeline Funds"? This is starting to sound an awful lot like BAILOUT BLACKMAIL. Our president is waffling.

Quote :

The Treasury Department would not have the funds to send out between 40% and 45% of its 80 million monthly payments, which also include checks for active-duty soldiers, tax refunds, federal workers' salaries and other items, according to the center. Obama has said he can't guarantee that Social Security recipients will receive the $49.2 billion in payments set go out next month.
The problem is that no one knows what will be paid. And that has left those depending on the federal government for assistance -- and their advocates -- holding their breath while the president dukes it out with House Republicans.
"If the debt limit isn't raised, every government payment and program would be in question," said Judy Conti, federal advocacy coordinator at the National Employment Law Project, which fights for the unemployed.

In Question? Why hasn't it been "in question" before now? No one knows who will be paid? Let's look at that. CNN is telling us that NO ONE KNOWS who will be paid. I'm curious, who decides? and what would I question payments to? Let's think for just a moment what the world would be like with no medicare or medicaid.

Quote :

Medicaid, the nation's largest safety net program, serves more than 60 million people. It not only provides health insurance for low-income Americans, but it is also the primary payer for two-thirds of the country's nursing home residents. Some $50 billion in Medicaid and Medicare payments are set to go out in August.

WAIT, can anyone tell me what 50 BILLION divided by 60 MILLION is? EACH MONTH? This is just money that flows into big Pharma. If there was no Medicaid, less people would die, and that's the bottom line.

Just so you are aware the Fed took all the money in the Social Security fund ages ago and issued guess what ................... IOU`s in the form of Treasury bonds . Yup worthless paper so when the soup runs dry around Aug 8 th to the 15th you will now why

Also this whole debt ceiling crisis could be the catalyst for the bubble to finally burst.

R i think it is just a tool they are using to get people to accept Less and swallow cuts to SS and medicare . They are playing one another off on this . Then there is talk of the creation of a super congress that would in all sense take the power away form the current congress with 6 members from each party

Yeah it's interesting to see the script play out er: democrats vs republicans on the issue too, like a distraction, look over here.

"Super" Congress? now you've got me started.
Isn't Congressional suppose to be CONSTITUTIONAL??!!

I find it odd that MMMedia is talking so casually about the complete destruction of our basic rights as sentient beings, used to be only one real news shocker a month, now there's 3 or 4 a DAY and people continue to GLAZE over it

soul sister they will do what ever they want what it will come down to in the the end is whether or not you will agree with them over it myself .....no it means shit to me what they do I`m not consenting to it

Quote :

With the world concerned about US financial credibility and the poor outlook for the US economy, now is not the time for the Republicans to grandstand on the public debt. The debt ceiling needed to be quietly raised. Instead, the Republicans started a fire and then threw gasoline on it, creating an inferno that could burn up the US social safety net or the US Treasury’s credit rating and the US dollar’s role as reserve currency or what remains of the separation of powers.

Consequently, world financial markets, currency markets, commodity markets, central banks, and mutual fund money market and bond funds are on pins and needles.

This level of irresponsibility is seldom seen even from American politicians.

Republicans have created a totally unnecessary crisis and turned it into compelling political theater. Will the US default? Will entitlements be slashed? Will Obama seize the power of the purse from Congress in order to save the dollar and the US credit rating? None of these questions needed to arise.

While the world media fixates on the orchestrated debt ceiling crisis, the US government continues to bomb civilians in Afghanistan, Libya, Iraq, Pakistan, Yemen, and Somalia and continues with preparations to do the same thing to Syria and Iran.

The violations of other countries’ sovereignties, the naked aggressions that constitute war crimes, the murder of noncombatants, and the horrible moral and economic expense inflicted by the maximization of the military/security complex’s profits are somehow not a crisis. These are just routine, normal, everyday necessary events. Nothing to notice or to become upset about.

The offshoring of US jobs, GDP, tax base, and consumer demand that has eroded away the US economy and the government’s tax base, thus elevating the deficit, is somehow not a crisis. These are just the imperatives of globalism and the routine maximization of shareholders’ profits and management’s performance bonuses.

The US has become such a ridiculous collection of fools that no real crisis can be recognized. Instead, the country is mesmerized by a fake crisis.

The fake orchestrated crisis can easily turn into a real one. If income support programs are slashed, so will be consumer demand, and the US economy will decline further, widening the budget deficit and national debt.

If the Republicans force the country into default, the dollar will suffer. At the least, import prices will rise and the trade deficit with them. At the worse, the dollar will lose its reserve currency role, and the US will no longer be able to pay its oil bill in its own currency. With its balance of payments deep in the red, it has no foreign currency with which to purchase oil.

There it is in a nutshell. The author goes on to chastise the Americans for not voting or not voting correctly and that's where he lost me. VOTE? we are so past that. When voting machines went digital the vote went to the hacker with the most money.