beowulf

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Everything posted by beowulf

  1. How the guy is spending the money goes back to the comparison with the US Gov. I know it's hard to understand. You are the one who brought up this Mortgage as an analogy. It really doesn't fit and is shown by the 690% over spending. A better fit would be using a credit card analogy. US income: $2400 billion US expenditure: $3200 billion Percentage of overspending: 33% The over spending was put on the Governments Credit Card. Which pushes the Credit Card balance close to $17 Trillion. Which they are never paying down the principal and are only paying the interest and having to borrow more money on the credit card to pay it's interest. Guy's income: $59,000 Guy's expenditures over the years pushes the credit card balance to: $410,000 Percentage of overspending this past year: 33% So instead of getting a loan and buying a house. This guy has a super platinum credit card that he can increase the limit when he gets to it. So to answer your question. NO, I would not lend money to someone in that situation and no bank would give them a credit card that he could raise the limit when he reached it. You are wrong. The issue is the DEBT and the OVERSPENDING. Because the overspending created the massive debt and with out stopping the overspending it will be impossible to pay down the debt. The reason the size of the debt is a problem is because it generates interest payments that need to be paid and just because interest rates are currently low doesn't mean they will always be low. Raising taxes will not solve the problem because raising taxes does not necessarily increase revenue. It can also decrease revenue. Raising taxes only works up to a point and then it becomes counter productive.
  2. You aren't considered enrolled until you pay, and you have until Dec 15 to pay for coverage beginning in January. How many people do you think are going to pay in full 2 months before the bill is due? Moreover the stats are skewed by the number of people who had to log on several times due to the clunky start up. Also, who is really surprised that people will visit to get information so they can comparison shop before they buy, especially when the deadline is months away? If your intent was to suggest that 99.6% of visitors looked at all the plans on offer and rejected all of them, that's a pretty dumb suggestion. As I'm sure you know full well. Don That was the title of the blog entry. Try reading it before you judge it.
  3. Only a moron would lend someone with that income $410,000 for a house. The monthly mortgage payment would be $2,669.72 Their net pay would be about $1,567.75 every two weeks. They would barely have enough left over to eat.
  4. Wow you failed to put in how much the government is spending per year next to the total revenue. This year I think they are spending close to $800 billion more then revenue. So the adjusted US revenue is more like a negative $800 Billion and asking for more loans. Apparently it was too complicated for you.
  5. https://blog.compete.com/2013/10/15/obamacare-enrollment-stats/ 99.6% of Healthcare.gov Visitors Did NOT Enroll in Obamacare
  6. I guess it was too complicated for you to understand that I meant someone who had a similar debt to income ratio as the US Government and not just anyone with a mortgage. I am familiar with the Keynesian theory. As far as I know there is no evidence to support that "theory". I am not using the scientific definition of theory.
  7. When someone tells me they have to borrow money so they can pay the bills, I would be very worried about them and would never lend them money. When the Government says that, you know disaster is just waiting in the future. Eventually the bond market is going to force the issue. Either they deal with it now and try to mitigate the pain or deal with it later when they won't have any choices.
  8. And by increasing the debt limit it increases the size of the disaster that they don't want to deal with today.
  9. http://stawealth.com/daily-x-change/1850-the-most-dangerous-line-uttered-during-the-debt-ceiling-debate.html That "worse outcome" wasn't exactly avoided they just pushed it off into the future instead of dealing with the problem now. Hell many don't even want to admit that the real problem is Government spending is out of control. No one won anything. All they did is agree to continue borrowing more money.
  10. http://www.caseyresearch.com/articles/ten-things-to-expect-from-obamacare-in-2014
  11. http://www.caseyresearch.com/articles/ten-things-to-expect-from-obamacare-in-2014
  12. Yep and everytime I hear the its is the law of the land bull shit I say so was the Bush tax cuts How about the Fugitive Slave Act of 1850. That was the law of the land. There have been plenty of laws that have been repealed. Just because ACA is a law doesn't mean it's right or immune.
  13. They should have stopped raising the debt limit a long time ago.
  14. This isn't the first time the House has defunded a law. Just because a bill was passed doesn't mean it's automatically funded.
  15. Yeah, what he said was right. Unfortunately I don't think he was sincere. He is a liar just like the majority of politicians. His lies are so obvious it makes the media look like they are complicit in his lies for not calling him out. Every time he says raising the debt limit doesn't increase the debt I just laugh at him. He is so full of shit. It's not working entirely as the founders wanted. I doubt that any of them would be all that happy to see or even imagine the size of the debt.
  16. The House can't repeal it. They have proposed budgets. They have tried to negotiate an agreement. Obama and the Democrats are refusing to negotiate. They are the ones holding everything up. In my opinion they shouldn't raise the debt limit. They should cut spending and pay the interest on the debt.
  17. I am not a Republican. I think Obama has done too much. Just because that is how it works doesn't make ACA a good bill or one that the majority of Americans want. I am all for spending cuts for military or any Government spending. The House is not obligated to fund every law if they don't want to. That is also the law.
  18. It wasn't a majority of the current representatives. Or those that represent the majority of the country, even at the time it was voted on. It was gamesmanship that got it in. Not because the majority of Americans wanted it. Also just because it's a law doesn't mean the House has to fund it.
  19. Actually no - given that it was a primary tenet of the 2012 presidential race, and the majority of the country voted to keep the authors in power, you are incorrect. Just because Obama was reelected doesn't mean the majority wanted ACA. Look into how ACA was voted into law. It was done via gamesmanship and during a very short period when the Democrats had the majority in both the House and the Senate. If it were voted on today it would not pass. There are plenty of polls showing that a majority of those polled do not want it.
  20. The only way spending will ever be cut is if it's done by force. Neither Republicans or Democrats want to cut spending. They each want continue borrowing and spending, just on different things. The only reason they are at this impasse is because Obama doesn't want to negotiate. The Republicans want to cut ACA in some way or another and Obama refuses to negotiate on it. Personally I don't want ACA and the vast majority of the country doesn't either. This was forced on the country the by the Democrats. It will increase the cost of health care insurance. It already has.
  21. I am not part of GOP. I really don't care who makes the cuts or really where the cuts are made.
  22. Only if interest rates stayed low. Which is extremely unlikely. SS, Medicare and Medicaid alone will bankrupt the US. They need to be restructured. In my opinion they need to be cut entirely. The military also needs to be cut back. Obama has already shown he can't be trusted to make cuts. But regardless of who decides they will need to be done sooner or later.
  23. I didn't bring it up, but it is true. Someone will have to pay it and this generation doesn't want to. They just want to continue borrowing money till they can't anymore.
  24. Yeah, the math isn't hard to do. Default is inevitable. SS, Medicare and Medicaid are unsustainable. The US gov can get by for now. But continuing on this path leads only to default in one way or another. Either by out right non payment or "printing" money like crazy. Either way it's default, printing money just devalues it to the point where it's pretty much worthless and no wants it anymore.
  25. I read that the Democrats are trying to get the sequester undone as part of the increasing of the debt ceiling. How stupid is that!