Prioritizing The Debt - Why can't we?

[WhiskeyGirl]

I've been watching CSPAN today, and Uncle Ben is testifying before lots of folks in the Senate.  Quite a few see a doomsday/decade ahead if we do not raise the debt ceiling.

Why not?  What happened to Mr. Obama's calling on America's 'Can Do' attitude?  Why can't prioritizing the debt be the Sputnik moment for this decade?

[WhiskeyGirl]

One excuse goes like this -

"We don't know who's check NOT to pay?  Is this check Mr. Jones Social Security or interest payment?"

What's the answer?  (my thoughts and opinions)  I have to believe at some point, there is a "consolidation system" - big business has used them for years.  They take all the little payment (account/business units/AP/payroll) files, created by many sub systems (Social Security, Medicare, Medicaid, Debt/Tax payments, etc.) and consolidate them for payment and prioritization.

In the real world, if someone wants to keep their cash, they might make A/P checks print/mail/transfer with a 2 week or maybe 31 day lag.  This way, they appear to keep more cash in their pocket.  It means that folks take longer to get their checks.  I believe in the business world this is done all the time.  It was part of the 'free cash flow' enhancement movement.

In the government system, how to keep the checks separate?  Help navigate the priorities?  I would have to imagine that there are subsystems somewhere, like at Social Security, the IRS, etc., that prepare files to send to the big check book entity that Uncle Ben was concerned about.

How hard would it be to determine where all those files are coming from?  Doesn't someone already know what goes into the consolidation sytem?  Surely there is someone monitoring the data files that create checks?  Maybe folks fill out old fashioned check requests?

Maybe they just pay any file/check request that comes their way?  Don't really have any insight/vision/control over what get's paid?

In my mind, I seems like determining the source of all those checks should be real simple.  Someone should know where all the check/payment requests are coming from.

[WhiskeyGirl]

Where do you find the talent to help make these changes and make sure it is done right?

Use Obama's highly 'credentialed' students?  Folks with 18 years or more of education?  Outsource the job to highly educated folks in India and China?

Or, look for the best and brightest in America?  Those that have watched as their jobs have been sent to highly educated folks in foreign countries?

It seems to me, there should be many highly motivated American that would be happy to help Washington in these times of trouble.  Folks that would do the job right...

What's the road block?  Likely they wouldn't have 'credentials' that meet Obama's strict standards.  28 years of school?  MBA's from the best ivy league schools? 

The biggest hurdle?  The motivation of the 'business as usual' class in Washington, Congress, White House, Wall Street, and the Federal Reserve.

When does all this spending and debt catch up?  The depression is knocking on our door. 

When does Washington stop kicking the can 10 years down the road?

Every time I watch these things, I keep thinking - These are the same folks that didn't notice that all those loans were going bad FOR YEARS.  That testified that Freddie/Fannie were sound.  That DID NOTHING when Freddie/Fannie had accounting problems and lots of red danger flag waving.

These are the folks that are saying we have to keep SPENDING?  We can't do the priority?

These same folks had 10 YEARS to fix this.   Freddie/Fannie's problems came to light in the early 2000's from what I remember.  It was at a time when many Clinton appointees ran those companies.

When will Congress make it right for all the little people on Main Street?  Why do they keep propping up Wall Street, big global players, big foreign banks, and big investors?  Why doesn't Uncle Ben work for Main Street?

What happens when NO ONE will loan us money and our currency is worth less than the Zimbabwe coin?

When will we return to our constitutional roots and common sense economics?

"Beans and rice until you pay off your debt..."

"You don't have any money, you can't afford to build a sun room..."

Just my humble opinions.

[WhiskeyGirl]

How exactly do they prepare the file that is used to print Social Security checks each month?  Maybe there is 10% payments to dead folks?  20%?  50%?

[WhiskeyGirl]

There was also a Senator or two that mentioned job creation.  What exactly does Ben know about creating a job?

If they want to create jobs, why aren't they pounding the pavement in their districts?  Holding a town hall meeting?  Maybe a meeting for folks ALREADY in business in their districts?

How can we help you prosper?  What can we do in Washington to help you make more money?  Hire more people?  Expand demand your your products or service?

Anyone notice how expensive things are getting?  How your energy costs are sky rocketing?  Your food prices? 

Uncle Ben suggested there is very low inflation?  What planet does he live on?  An alternate reality?  A world of flawed financial models?  Economic models that don't reflect life on Main Street or the pockets of working Americans?  Small American business?

Folks trying to make it from paycheck to paycheck?

Why doesn't everyone pay a flat tax?  I think it doesn't matter how much or how little you make, everyone should feel the same percentage of pain.  The guy making $10,000 or $10 million should wonder why Washington is take 17% for and WHAT IN HEAVEN'S NAME ARE THEY SPENDING IT ON?

[WhiskeyGirl]

Everytime I watch this stuff, I keep thinking the only reason 'we' had to bail out anyone was to keep foreign countries from charging American/foreign insiders/regulators/politicians/bankers with financial crimes, putting them in jail, fining them, or in the case of some countries, making them pay through capital punishment.

In Europe, they seem to put people who lose lots of money in jail, and given them big fines.  In the US, the bailouts continue.  The rich insiders just keep getting richer, the insiders just keep getting more government pork.

Maybe it's time to stop the bailouts, open the Fed to the light of day, and look at the historical use of taxpayer money.  A two year lag, just isn't enough. 

[WhiskeyGirl]

I've been wondering for two plus (2+) years where my billion dollar bailout check was.  Apparently, I just don't know where to send my check request.  If they don't know who or why they're giving out/printing/electronic transferring all this money to and for...why are they doing it?

It also reminds me of all those bogus/unregistered/fraud Social Security numbers that get refunds.  And, all those TINs (Taxpayer Identification Numbers)...how many bogus TIN numbers are used by illegal aliens and others?

How many bogus/unregistered/fraud Social Security & TIN numbers are used each year?  How many get more back than the users pay in taxes?  Earned income?  Green credits?  Cash for clunkers?

What is to prevent an illegal alien/bogus person from using a different SS or TIN number several times a years and pushing the taxpayer funded IRS ATM for their personal gain?

How much is sent to folks with questionable SS and TIN numbers?