"Each time they tell us it's going to be the end of the world,
and each time it isn't". Perhaps not for you or I, but tell
that to the millions of senior citizens who paid in over a lifetime
and whose only source of income is their monthly social security
check. Wish people weren't living that close to the edge, but
many are.
Lawrence Tribe disagrees with you about the 14th amendment.
Not knocking your knowledge or wisdom, but on this one I'll
go with Tribe.
Posted by DigiNomad on 19th of May 2023 at 03:26 pm
They will get their social security payments. Just look at the
history of shutdowns...and this wouldn't even be a shutdown. The
market is smarter than all of us. If there was a realistic
possibility that debt wasn't going to get paid or social security
checks wouldn't go out, the market would be throwing a MASSIVE fit.
It's not because it knows the reality of the situation.
We're getting our chains yanked with political theatre.
Shocker.
Posted by DigiNomad on 19th of May 2023 at 03:33 pm
In FY 2022 total government spending was $6.27 trillion and
total revenue was $4.90 trillion. Failure to get a debt deal
would just force austerity down to a spend level of 4.9
Trillion. I promise that leaves plenty of room to pay treasury debt
and social security and medicare. From experience, they will
furlough a bunch of Fed employees first, shut down national parks,
and stop non essential contract spend (the part I implement in my
old position). It's not good, but we will pay our debts and support
seniors.
Posted by DigiNomad on 19th of May 2023 at 03:41 pm
Typically, yes. Congress has always passed a bill (post
shut down) for retroactive payments to Gov employees furloughed
when they were deemed "non essential." I don't expect that to
change this time, nor do I think it really should.
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"Each time they tell us
GOP walks out of talks.
Posted by RichieD on 19th of May 2023 at 03:22 pm
"Each time they tell us it's going to be the end of the world, and each time it isn't". Perhaps not for you or I, but tell that to the millions of senior citizens who paid in over a lifetime and whose only source of income is their monthly social security check. Wish people weren't living that close to the edge, but many are.
Lawrence Tribe disagrees with you about the 14th amendment. Not knocking your knowledge or wisdom, but on this one I'll go with Tribe.
They will get their social
Posted by DigiNomad on 19th of May 2023 at 03:26 pm
They will get their social security payments. Just look at the history of shutdowns...and this wouldn't even be a shutdown. The market is smarter than all of us. If there was a realistic possibility that debt wasn't going to get paid or social security checks wouldn't go out, the market would be throwing a MASSIVE fit. It's not because it knows the reality of the situation. We're getting our chains yanked with political theatre. Shocker.
In FY 2022 total government
Posted by DigiNomad on 19th of May 2023 at 03:33 pm
In FY 2022 total government spending was $6.27 trillion and total revenue was $4.90 trillion. Failure to get a debt deal would just force austerity down to a spend level of 4.9 Trillion. I promise that leaves plenty of room to pay treasury debt and social security and medicare. From experience, they will furlough a bunch of Fed employees first, shut down national parks, and stop non essential contract spend (the part I implement in my old position). It's not good, but we will pay our debts and support seniors.
Sounds right... don't forget they
Posted by fredsaid on 19th of May 2023 at 03:39 pm
Sounds right... don't forget they will ensure they pay themselves as well.
Typically, yes. Congress has always
Posted by DigiNomad on 19th of May 2023 at 03:41 pm
Typically, yes. Congress has always passed a bill (post shut down) for retroactive payments to Gov employees furloughed when they were deemed "non essential." I don't expect that to change this time, nor do I think it really should.