Debt Ceiling Billionaires - Time to Renegotiate Obama's Debt?

[WhiskeyGirl]

"Geithner Wants Debt Ceiling "Done and Clean" in July "

NEW YORK--Treasury Secretary Timothy Geithner said Tuesday he wanted a vote to raise the $14.294 trillion debt ceiling "done and clean" by July, weeks before the government could potentially default on its debts on Aug. 2.

How many Americans would like to see a list of who is getting rich on our debt?  Not just bank names, account holders, trusts owners, etc.  Much was made about a few Swiss banks and account holder names being released.  Why not push to find out the names of individuals that are getting rich on the backs of Main Street workers?  Future generations of Americans?  Enslaving Americans with generations of debt?

Where is the Donald Trump of Washington to renegotiate that debt?  SCREW the holders like they SCREWED the bond holders of the auto companies?

Republican leaders have painted a much different picture on the state of negotiations. House Speaker John Boehner (R., Ohio) has said he will not support a debt-ceiling increase if the White House doesn't embrace substantial deficit-reduction measures. Mr. Geithner said the White House would agree to large deficit-reduction measures, but he said they would have to include tax increases – something Republicans have said is a deal-killer.

We don't have a revenue problem, we have a spending problem.  Over a decade ago, Wisconsin had a workfare program.  Some scary number of people, like 25%-35% of participants just dropped off the welfare rolls rather than participate.  Why not a workfare plan for America?  How much could could we save?

Waste, fraud, and abuse - no Social Security number for mom and dad?  No identity credentials?  NO WELFARE for the families. 

Using your food share or benefit card hundreds of miles away from your home?  Month after month?  On cruise ships?  Shut them down.  How many collect in multiple states?  Move and don't tell the welfare office?

What are the chances that any mail WILL NOT be forwarded by the Post Office, regardless of any request to 'return to sender'?  I recall that for years, mail is forwarded by a sorting facility, and much of the mail is processed by machine - scanners.  The local carrier doesn't return the mail.  It never makes it to the local PO. 

Same problem with requests from government clerks for voting records.  What are the chances that ANY mail is returned to the sender and NOT forwarded?  Do machines read every message on an envelope?  I don't think so.

read more here - http://online.wsj.com/article/SB10001424052748703509104576330202219718070.html

Just my humble opinions.

[WhiskeyGirl]

From Geithner's speech -

And to provide some context for the choices we must make now to preserve room for important investments in our future, consider the following facts:

    In the United States of America today, 40 percent of children born each year are covered by Medicaid. If you are born today in hard-pressed communities in many American cities, like St. Louis or Baltimore, you are more likely to die before your first birthday than if you were born in Sri Lanka or Belarus.

    In education, we’re losing ground. For example, in Los Angeles, only about half the kids graduate from high school.

    Over the next 25 years, the number of Americans eligible for Medicare and Social Security will nearly double, while the number of working age Americans will only increase by about 10 percent, putting substantial new burdens on working Americans.

    We live in a dangerous world, with our young men and women fighting and dying to protect our freedom. We spend $700 billion a year on national security, and this is only about two-thirds of what we spent as a share of our economy during the Cold War.

    The effective income tax rate for the wealthiest Americans—those earning more than $250,000 a year—is at its lowest level in 50 years. And the effective rate for the very rich—those earning over $10 million per year— has declined much further and is now around 21 percent.

40% on Medicaid?  How many are from parents here illegally? 

Fewer and fewer people PAY taxes.  Why not a flat tax EVERYONE contributes to, regardless of income?

Why shouldn't the person earning $10,000 a years have some skin in the tax and spend Washington grist mill?  The massive debt being foisted onto the backs of Americans? 

America can do better. And if Republicans try to impose that plan on this country as a condition for raising the debt limit, then they will own the responsibility for the first default in our history, with devastating damage to the nation.

It's Obama, the Fed, and Treasury's fault if the nation defaults.  What is Obama doing to ensure that bogus/fraud Social Security numbers aren't getting inappropriate tax refunds?  Folks using those bogus/fraud/suspect Social Security numbers are investigated and taken to task when the numbers are first reported to the IRS? 

Why isn't Tim, Barack, and the Fed renegotiating that debt?  Asking those folks holding the debt to take ten cents on a dollar (a reduction) and lower the interest rate to like .01%?

This will help restore confidence that Washington is up to the many challenges we face. It will help give businesses and investors the confidence to make long term investments in the United States. It will help preserve the strong economic foundations necessary for protecting our national security. It will give us the room we need to invest in the future.

Why hasn't the returned TARP money been use to pay down the debt?  I've read and heard it's being squandered and wasted and used like a slush fund.  Meanwhile, the Obama's continue to party while folks on Main Street have to cut back.

Where is the fairness?  Wealthy, squandering, wastrel socialists, with many luxury homes party while folks on every Main Street are forced to cut back.  None of those socialists, regardless of high brow education lives the simple and selfless life of Mother Theresa or Ghandi.  They live the endless life of show lights and party town.

read more here - http://www.thecypresstimes.com/article/News/National_News/REMARKS_BY_TREASURY_SECRETARY_TIM_GEITHNER/45439

just my humble opinions

[WhiskeyGirl]

When Democrats decided to pass on raising the nation's $14.29 trillion debt limit during the 111th Congress' lame duck session this December, the game plan for the 112th Congress was simple: scare "responsible" Republicans into voting to raise the debt limit just as they were scared into voting for TARP. This would both negate charges that Democrats were the only party raising the country's debt, and drive a wedge between Republican leaders in Congress and their Tea Party base.

But the White House then made two mistakes: 1) it believed its own press releases, and 2) it underestimated the lessons of TARP. The two are related.

Many on the left seemed to actually believe the predictions of doom in Geithner's first letter to Congress. Geithner claimed that failure to raise the debt limit would force the Treasury Department "to default on legal obligations of the United States" causing "long-term negative impact on U.S. creditworthiness."...

Does Washington have any credit with the American people?  How 'credit' worthy is Social Security?  SS only pays a fraction of ending wages, and many will work until they are age 70 or greater to collect.  How many will never collect?. 

For some reason, many public employees get to retire after like 20 years and get a bloated pension that does not reflect their twenty years of service. 

A lifetime of paying in, 15% (employee & employer) vs. no contributions?  A little skewed?  A Madoff Ponzi scheme that no politician wants to own up to?

How'd that TARP work for the American people?  Porkulus?  Was that TARP money returned paid off the debt yet?

As the Government Accountability Office has certified, Treasury Secretary Geithner has complete authority over how to prioritize federal government payments. ... The only reason the U.S. would ever default on its debt, or miss a Social Security check, would be because Geithner chose to fund other priorities instead.

I watched on TV while Bernanke said the Fed doesn't seem to know who it pays or why they are paying them (my paraphrase/interpretation of his words), and thus wouldn't have the ability to shut off any checks.

Don't they know where the check requests originate from?  Can't they stop them at the input source? 

Garbage in, GARBAGE out.  In this case, one has to wonder if the GARBAGE OUT is fraud, waste, and abuse?  Who profits from all that interest on the DEBT?  Who are the DEBT CEILING billionaires Washington creates and keeps funding?  International loan sharks?

read more here - http://washingtonexaminer.com/opinion/columnists/2011/05/conn-carroll-obamas-losing-game-debt-ceiling-chicken