Manchin Screws 36 million poor and middle class

[EyeBRollin]

Not exactly but you go with that….

You keep believing in the national debt paid for by grandchildren bullshit.

 

[AzogtheDefiler]

You keep believing in the national debt paid for by grandchildren bullshit.

They borrow the money from the Fed and if our revenues decline and the value of the $ declines yeah the next generations have to deal with it. Do you not understand how debt, revenue, profits, enterprise value work?

 

[g5000]

Wrong. All US government funds are printed. It creates money out of thin air, with the stroke of a keyboard.

Why is your head not exploding from cognitive dissonance?

The only thing I can figure is that you have no cognition to begin with. You admitted when I (a member of the public) lend the government money, it is not printed.

I linked you to the Treasury Bulletin which shows around $22 trillion of the federal debt came from the public. Another $6 trillion or so came from foreign investors and governments.

Since you know that money is not printed, how can you keep saying ALL of it is?!?

 

[EyeBRollin]

They borrow the money from the Fed and if our revenues decline and the value of the $ declines yeah the next generations have to deal with it. Do you not understand how debt, revenue, profits, enterprise value work?

Value of the $ relative to what? Be specific.

 

[Toddsterpatriot]

The Fed balance sheet is only about $2.5 trillion in Treasuries.

Ummmmm.....about $5.6 trillion in Treasuries.

 

[AzogtheDefiler]

Value of the $ relative to what? Be specific.

To other currencies. If some other currency replaces the $ as the global currency we are in A different position. You didn’t answer my question. How leftist of you.

 

[Flash]

36 Million Families Face End Of Monthly Child Tax Credit Payments

The program has benefited poor and middle-class households alike. Now it seems doomed.

www.huffpost.com

Of course Republicans did as well.

Not a single one would vote for this bill.

Not Romney. Not Collins. Not Murkowsky

None of them care about working families

All this stupid irresponsible shit is why 51 of the Senators are against that stupid bill:

This is the kind of worthless wacko shit Joe Potatohead wants to put us more in debt for:



https://www.congress.gov/bill/117th-congress/house-bill/5376/text

Page 3-4: (1) $10,000,000,000 for hazardous fuels reduction projects within the wildland-urban interface;
(2) $4,000,000,000 for, on a determination by the Secretary that hazardous fuels within the wildland-urban interface have been effectively treated to prevent the spread of wildfire to at-risk communities, hazardous fuels reduction projects outside the wildland-urban interface

Assessment: This is at least $14 billion in the first two pages of the bill that is pork. Reducing vegetation is up to individuals or local communities. It also reduces vegetation that takes in CO2 which is supposedly the deadliest risk to mankind.

The other aspect that shows it is bogus is that it is a huge, made up round number. One or more people just threw a dart at a board to get these numbers.

Page 14: $10 billion for similar fuel reduction projects on tribal lands

Pages 20-21: $2.250 billion to be used for staffing salaries, and other workforce needs and expenses to support the development of a Civilian Climate Corps for carrying out projects on non-Federal land through the Forest Service State.....

Page 31: $2.17175 billion for unknown projects from a 20 year old act (Rural Energy for America Program established under section 9007 of the Farm Security and Rural Investment Act of 2002

Page 33: $960 million to upgrade equipment supporting greater that 10% ethanol or 20% biodiesel.

Assessment: This is the responsibility of the equipment owner. Ethanol needs to be banned from gasoline.

Page 34: $9.7 billion to repower rural energy systems to reduce fake (opinion) greenhouse gases

Page 48: $2.664,5 billion for fiscal year 2022, for grants for construction, alteration, acquisition, modernization, renovation, or remodeling of agricultural research facilities......

Page 54: About $80 billion for a Rebuild America Schools program

Page 126: $9 billion for TUITION ASSISTANCE FOR STUDENTS AT HISTORICALLY BLACK COLLEGES AND UNIVERSITIES, TRIBAL COLLEGES AND UNIVERSITIES, AND MINORITY-SERVING INSTITUTIONS

Pages 167-169: $2.609 billion to Department of Labor agencies. This appears to be additional funding beyond their normal annual funding with no apparent need. The various stimulus bills of 2020 (maybe 2021 as well) had many millions going to US government agencies with no real limit on the use. I would like to see funding for these agencies for the last five years along with funding from the stimulus bills and this one.

None of this is infrastructure related and should be removed along with all other non-infrastructure funding.

Page 183: $9.054 billion for YOUTH WORKFORCE INVESTMENT ACTIVITIES

Pages 185-195: $23.35 billion for re-employment activities and grants

Page 200: $450 million for migrant worker programs

Page 202: $3.6 billion for adult education and literacy

Page 222: $1.48 billion for direct care (health) worker programs

Pages 250-251: ~210 billion for birth to age five child care. Assumption is $40 billion per year for fiscal years 2025 - 2027 even though those years have unstated funding (it is "as required" and I assumed $40 billion/ year).

Page 292: $2.5 billion for each of fiscal years 2022 through 2027 to improve compensation of Head Start staff

Page 333: $500 million for school kitchen equipment

Pages 343 - 344: $5 billion for clean heavy duty vehicles:

Implement a program to make awards of grants and rebates to eligible recipients, and to make awards of contracts to eligible contractors for providing rebates, for up to 100 percent of costs for ‘‘(1) replacing eligible vehicles with zero-emission vehicles; ‘‘(2) infrastructure needed to charge, fuel, or maintain zero-emission vehicles; ‘‘(3) workforce development and training to support the maintenance, charging, fueling, and operation of zero-emission vehicles; and ‘‘(4) planning and technical activities to support the adoption and deployment of zero-emission vehicles.

Page 346: $3.5 billion to reduce air pollution at ports

Page 350: $27.49 billion for a greenhouse gas reduction fund

Page 374: $10 billion for the Superfund

Page 374-375: $750 million to reduce waste in communities

Page 377: $10 billion for Environmental and Climate Justice block grants

Page 379: $30 billion for drinking water lead service line replacement

Page 399: $9 billion to institute guidelines for State energy offices to provide rebates to homeowners and aggregators for whole-house energy saving retrofits

Page 415 - 417: $9 billion for a high efficiency electric home rebate program.

Page 445: $3.5 billion for a weatherization assistance program

Page 446: $3.2 billion for critical facility modernization. See text for suitable project types.

Page 452: $2 billion for electric vehicle infrastructure buildout

 

[g5000]

Ummmmm.....about $5.6 trillion in Treasuries.

No, it's $2.5 trillion in US Treasuries. The rest is mortgage backed securities from the private sector.

 

[EyeBRollin]

You admitted when I (a member of the public) lend the government money, it is not printed.
I linked you to the Treasury Bulletin which shows around $22 trillion of the federal debt came from the public. Another $6 trillion or so came from foreign investors and governments.

Since you know that money is not printed, how can you keep saying ALL of it is?!?

My friend you are confused. The public does not supply the US government with money. On the contrary.

 

[g5000]

Toddsterpatriot, you are actually correct.

The last time I checked, the Fed had $2.5 trillion in US Treasuries.

But according to this report, they now have $5.2 trillion: Why the Fed's balance sheet is expected to top $9 trillion after it starts reducing its monthly asset purchases

 

[EyeBRollin]

To other currencies. If some other currency replaces the $ as the global currency we are in A different position. You didn’t answer my question. How leftist of you.

This is only half true. What backs the US dollar?

 

[g5000]

My friend you are confused. The public does not supply the US government with money. On the contrary.

Wow. Just...wow.

I don't know how to respond to such a blatant denial of reality.

 

[AzogtheDefiler]

This is only half true. What backs the US dollar?

Safety. US innovation, revenue and potential for future revenue. Again you didn’t answer my questions. Typical leftist.

 

[AzogtheDefiler]

No, it's $2.5 trillion in US Treasuries. The rest is mortgage backed securities from the private sector.

Nope

 

[EyeBRollin]

Wow. Just...wow.

I don't know how to respond to such a blatant denial of reality.

Oh Jesus Christ. This is pathetic to be honest.

 

[g5000]

https://fiscal.treasury.gov/files/reports-statements/treasury-bulletin/b2021-4fd.doc

 

[EyeBRollin]

Safety. US innovation, revenue and potential for future revenue. Again you didn’t answer my questions. Typical leftist.

Dancing around it, but close enough.

 

[AzogtheDefiler]

Dancing around it, but close enough.

Nope. That is precisely right. It’s safety. But safety will decline if we keep going down this road. China is trying to become the global currency. You say “dancing” but you still haven’t answered my questions. Guess they don’t teach manners in Newark.

 

[Eric Arthur Blair]

They borrow the money from the Fed and if our revenues decline and the value of the $ declines yeah the next generations have to deal with it. Do you not understand how debt, revenue, profits, enterprise value work?

He obviously does not. Or is too cowardly to admit long term debt can be generational and rob
future generations of their freedom.

 

[Toddsterpatriot]

No, it's $2.5 trillion in US Treasuries. The rest is mortgage backed securities from the private sector.

Federal Reserve Balance Sheet: Factors Affecting Reserve Balances - H.4.1 - July 05, 2024

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

No, it's $5.643 trillion in Treasuries and $2.644 trillion in MBS.