Here we go again.

http://thehill.com/blogs/on-the-money/budget/190961-real-debt-ceiling-deadline-could-be-june-cbo

Apparently, the US could run out of credit again by March, and would need to raise the debt ceiling. Again.

We MIGHT be able to push it back to June, depending on how much tax receipts we get in February, March, and April.

you heard that right folks, it’s that time of year again. That time of year for what you wonder.

To clean the colon. The holidays bring out the starchiest, sugariest, saltiest treats which does nothing but jam up the butthole with bile. I am going to pounce on a Black Friday deal for more Oxy to push the poop plumbing clean once again. I think I’ll enjoy a wicked Turkey day, throw back some wine, then start a black friday with a black load dumped into the can.

Who’s with me?

^You live in Harlem, right? Where do you work? Don’t you have to ride the subway? How long does it take you to get to work?

I guess what I’m getting at is: how do you hold it in while you’re walking to the station and taking a 30-minute ride, then walking to work? Sounds dangerous.

(Nice, Greenman. Two C-3PO quotes in back-to-back posts.)

Yellen Fed Nomination Approved by Senate Banking Panel By Nicholas Johnston Nov. 21 (Bloomberg) – Senate Banking Cmte votes 14-8 to send to full Senate nomination of Janet Yellen to be chairman of Federal Reserve.

  • NOTE: Five Senate Republicans have said they will support Yellen’s nomination, which should give her 60 votes needed to be confirmed

A really simple solution… just eliminate the debt ceiling.

The US debt to GDP is not as bad as other countries.

Probably because we have a debt ceiling. It at least helps delay the inevitable.

The debt ceiling is a joke. Our gov’t should either put in place actual repercussions if they need to raise the level or just abolish it all together (i hope the former).

It’s also not as good as a lot of other countries. I also don’t buy into the whole debt as a percentage of GDP idea. I realize that tax receipts are partially a function of GDP, but at the end of the day debt has to be repaid by tax receipts, not GDP. Based on the latest data I found, the US govt. brought in $2.8 trillion in fiscal 2013 and had $16.7 trillion in outstanding debt, that means we owe 6 years worth of annual income. Current budget projections have us with annual deficits every year as far out as anyone is willing to project, despite assuming fairly strong growth in tax revenues. I just don’t understand how anyone can view that as a sustainable model.

Warren Buffet made a very convincing argument last month on why it should be eliminated asap.

the obvious reason is that our govt effectively shuts down in the time that it takes to debate the whole ceiling problem. chain reaction to the financial markets, etc.

unless of course… the dems want to argue the repubs will keep the ceiling to hold hostage negotiations…

It isn’t just the net number, but the projected future benefits. Now, the current way we are spending (for consumption) isn’t very good. But if I was dictator, I would be utilizing this low interest rate to finance spending we really need to do anyway (infrastructure mostly).

For example, it is absurd we haven’t strengthened our networks. For a talk on it, see this:

http://www.ted.com/talks/danny_hillis_the_internet_could_crash_we_need_a_plan_b.html

For an example of how people are screwing with us already, see this:

How Somebody Forced the World’s Internet Traffic Through Belarus and Iceland (http://allthingsd.com/20131120/how-somebody-forced-the-worlds-internet-traffic-through-belarus-and-iceland/)