Thursday, February 10, 2011

Interesting

Social Security, foreign debt priorities if government shuts down

Nevada Rep. Dean Heller is trying to send with a new bill he’s filed this week, prioritizing Social Security over other spending in case of a doomsday scenario everyone is talking about but no one is yet trying to fix: a crash into the country’s legal debt ceiling. That would precipitate a shutdown of the government until the debt either comes back below legally permissible levels, or Congress tweaks the law.

Posted by mark @ 05:34 PM (1181 views)
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5 thoughts on “Interesting

  • was this a slip or was there a reason behind this statement or does this guy know something we don’t

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  • The country is close to its debt ceiling. Some brave souls are trying to stop the USA raising the ceiling, once more.

    At present the national debt level is $14.117 trillion, and the debt ceiling is $14.294 trillion, so they are near the max and are pondering the next step(s).

    Have a look at the yields on 7yr, 10yr notes. Going up, up, up. Maybe that’s why the pundits in the US are spending so much time criticising the Euro. perhaps they think the $ won’t be the reserve currency much longer if America can’t pay its debts….

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  • They want civil unrest to consolidate the police state and disarm Americans. Watch.

    Those Fema camps are not there for show.

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  • They’ve come close to the “debt ceiling” many times before. Each time, Congress simply votes to raise the ceiling. Think about it for a second: politicians aren’t going to vote against what is, in the short term at least, a giant money tree.

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  • trouble is money is supposed to be a substitute for an underlying product or wealth.

    we are getting so far away from this basic concept that its a certainty that eventually there will be a collapse..Unfortunately its now global gearing which perhaps will end up with a world currency and all debt forgiven.The consequences of this are unthinkable

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