I would like to think/hope that there are some Republicans who understand how our national government works and that defaulting on debt would be a disaster just as we are flirting with a recession. I would like to think there are at least 6.
That alone would tell the GOPer crazies AND Kevin McCarthy that they don't run the place.
Robert, I am just grateful and HAPPY that you are still in the middle of all this, adding your thoughts and insights and working for the Common Good as you always have. You are not even in an elected post so why do you still matter and why do people listen to you? Because of your proven credibility. Thank you for staying in the fight. You really matter. Nice pic from 1995, BTW.
I took a Poly-si class at a local college years ago that was taught by a professor named Spanhour, spelling. This guy was being watched by the FBI for being a subversive when he was younger. He had copies of documents acquired through the freedom of information act, that showed Reagan and Bush illegally withdrawing monies from the social security coffers. These two guys knew their budgets would never be approved by congress so they submitted requests that they knew would be accepted with no problem. Then as the situations presented themselves they would simply take the tax payers social security money to off set the difference, the needed expenditures grew to the tune of 3 trillion dollars. All monies stolen from the American people. They are the cause of the financial trouble social security is in today. Deal with the debt ceiling as you will but leave social security and Medicare, alone.
It seems that large corporate are entities using money they should have been paying in taxes and employee/investor compensation via ‘dark money’ to elect these Republican legislators. Don’t you think they are telling these legislators they ‘bought’ that these actions will actually be very bad for these corporations? Perhaps I don’t understand all the dynamics, but it seems this whole scenario hurts corporate self interest a great deal and I don’t hear anything on this point in the media 🤔
Our government, including the present Supreme Court, is being cheapened and degraded by a small minority who are grabbing for power. I worry that a portion of our voting public may turn away in disgust. I hope we can pull through this time and arrive at a stronger, more effective government (and Supreme Court) grounded in civic responsibility and integrity. What we presently have, in part, is a disgrace.
Nobody mentions my idea -- arbitrage. Interest rates in some countries are much lower than in the US. E.G. Switzerland: holding the policy interest rate at -0.75%. Other countries like Denmark, Japan and Sweden have low rates.
Treasury could BUY low and SELL high, making money and breaking the debt ceiling.. Janet Yellen could make this happen tomorrow.
Krugman says we could also issue “premium bonds” when existing debts come due — bonds whose face value is the same as that of the bonds they replace, so that they don’t officially increase the debt, but offer high interest rates, so they sell for much more than their notional value.
I also like the ide of collecting all the unpaid taxes owed by our delinquent super wealthy and by foreign actors welching on US taxes. Penalize them. Lien up their US properties. Garnish their bank accounts.
Lastly, we could ask the US public to donate to save the US. I have been all over this to save the SSA trust funds. Maybe we could do it as a nation. Consider the endowments of institutions like colleges. When the founders said "endow" maybe they meant it literally.
Emblazoned above the front entrance to the U.S. Supreme Court Building is the phrase "Equal Justice Under Law." In an investigation of who leaked a draft of the Dobbs decision, it could not be more unequal than to have all the court's employees be interviewed and sign affidavits - except the justices.
The attitude the court is showing is that if the leaker is at a lower level than a justice, he or she should be punished and likely have his or her legal career ruined. But if the leaker is a justice, the person should get away scot-free. The court is looking like the pigs who led Animal Farm: "Some are more equal than others."
At least a few of the justices should be strongly and publicly speaking out against this travesty and calling for everyone to be treated equally in the investigation. If the court so flagrantly acts against a fundamental legal principle proclaimed above its door, what legal principle can it be relied on to take seriously?
Instead of decreasing spending, why not bring in more money by finding a way to make billionaires pay taxes. Besos, Musk, Zuckerberg and Trump pay little or no income tax.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void."
I would like to think/hope that there are some Republicans who understand how our national government works and that defaulting on debt would be a disaster just as we are flirting with a recession. I would like to think there are at least 6.
That alone would tell the GOPer crazies AND Kevin McCarthy that they don't run the place.
Robert, I am just grateful and HAPPY that you are still in the middle of all this, adding your thoughts and insights and working for the Common Good as you always have. You are not even in an elected post so why do you still matter and why do people listen to you? Because of your proven credibility. Thank you for staying in the fight. You really matter. Nice pic from 1995, BTW.
I took a Poly-si class at a local college years ago that was taught by a professor named Spanhour, spelling. This guy was being watched by the FBI for being a subversive when he was younger. He had copies of documents acquired through the freedom of information act, that showed Reagan and Bush illegally withdrawing monies from the social security coffers. These two guys knew their budgets would never be approved by congress so they submitted requests that they knew would be accepted with no problem. Then as the situations presented themselves they would simply take the tax payers social security money to off set the difference, the needed expenditures grew to the tune of 3 trillion dollars. All monies stolen from the American people. They are the cause of the financial trouble social security is in today. Deal with the debt ceiling as you will but leave social security and Medicare, alone.
Have the Justice Department charge the House members that aided the insurrection and kick them out of Congress.
My son in college has never seen a chalk board. Is that how cavemen used to text?
Enjoy your retirement from formal teaching! I look forward to your continuing to impart your wisdom to all of on this Substack forum and beyond.
It seems that large corporate are entities using money they should have been paying in taxes and employee/investor compensation via ‘dark money’ to elect these Republican legislators. Don’t you think they are telling these legislators they ‘bought’ that these actions will actually be very bad for these corporations? Perhaps I don’t understand all the dynamics, but it seems this whole scenario hurts corporate self interest a great deal and I don’t hear anything on this point in the media 🤔
Our government, including the present Supreme Court, is being cheapened and degraded by a small minority who are grabbing for power. I worry that a portion of our voting public may turn away in disgust. I hope we can pull through this time and arrive at a stronger, more effective government (and Supreme Court) grounded in civic responsibility and integrity. What we presently have, in part, is a disgrace.
I vote other.
Nobody mentions my idea -- arbitrage. Interest rates in some countries are much lower than in the US. E.G. Switzerland: holding the policy interest rate at -0.75%. Other countries like Denmark, Japan and Sweden have low rates.
Treasury could BUY low and SELL high, making money and breaking the debt ceiling.. Janet Yellen could make this happen tomorrow.
Krugman says we could also issue “premium bonds” when existing debts come due — bonds whose face value is the same as that of the bonds they replace, so that they don’t officially increase the debt, but offer high interest rates, so they sell for much more than their notional value.
I also like the ide of collecting all the unpaid taxes owed by our delinquent super wealthy and by foreign actors welching on US taxes. Penalize them. Lien up their US properties. Garnish their bank accounts.
Lastly, we could ask the US public to donate to save the US. I have been all over this to save the SSA trust funds. Maybe we could do it as a nation. Consider the endowments of institutions like colleges. When the founders said "endow" maybe they meant it literally.
https://www.americanbar.org/groups/senior_lawyers/publications/voice_of_experience/2011/winter/social-security-maybe-charity-should-begin-at-home/
Alito: Deleto!
Emblazoned above the front entrance to the U.S. Supreme Court Building is the phrase "Equal Justice Under Law." In an investigation of who leaked a draft of the Dobbs decision, it could not be more unequal than to have all the court's employees be interviewed and sign affidavits - except the justices.
The attitude the court is showing is that if the leaker is at a lower level than a justice, he or she should be punished and likely have his or her legal career ruined. But if the leaker is a justice, the person should get away scot-free. The court is looking like the pigs who led Animal Farm: "Some are more equal than others."
At least a few of the justices should be strongly and publicly speaking out against this travesty and calling for everyone to be treated equally in the investigation. If the court so flagrantly acts against a fundamental legal principle proclaimed above its door, what legal principle can it be relied on to take seriously?
I am sick of R subversive tactics that appeal to the willfully ignorant. Let them fall on their swords.
Instead of decreasing spending, why not bring in more money by finding a way to make billionaires pay taxes. Besos, Musk, Zuckerberg and Trump pay little or no income tax.
Instructive on the debt limit. Worth the 9 minutes: https://youtu.be/Rongpo2TbqQ
https://constitution.congress.gov/browse/amendment-14/section-4/#:~:text=Section%204%20Public%20Debt,rebellion%2C%20shall%20not%20be%20questioned.
"Section 4 Public Debt
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void."
Everyone seems to be forgetting the lunatic dentist, Rep Paul Gosar. On the Oversight Committee.