Treasury Secretary Mnuchin frantically calls for debt ceiling increase

[NYcarbineer]

"WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the federal debt limit “as soon as possible” so the government can pay employee benefits and other obligations."

Why???

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

Oh my. Isn't that a surprise?

Uh, no, it isn't.

U.S. Treasury Secretary Mnuchin urges Congress to raise debt ceiling a

...and yet the Treasury is collecting record tax revenues.

which part of lower government revenues did you not understand?

 

[gipper]

"WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the federal debt limit “as soon as possible” so the government can pay employee benefits and other obligations."

Why???

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

Oh my. Isn't that a surprise?

Uh, no, it isn't.

U.S. Treasury Secretary Mnuchin urges Congress to raise debt ceiling a

...and yet the Treasury is collecting record tax revenues.

which part of lower government revenues did you not understand?

well we surely can't cut ANY federal spending...now can we?

 

[NYcarbineer]

"WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the federal debt limit “as soon as possible” so the government can pay employee benefits and other obligations."

Why???

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

Oh my. Isn't that a surprise?

Uh, no, it isn't.

U.S. Treasury Secretary Mnuchin urges Congress to raise debt ceiling a

...and yet the Treasury is collecting record tax revenues.

Those are pre-tax cut revenues.

 

[NYcarbineer]

"WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the federal debt limit “as soon as possible” so the government can pay employee benefits and other obligations."

Why???

"The Congressional Budget Office on Wednesday moved up its projection for when the Treasury will likely run out of cash to the first half of March, citing lower government revenues after the Republican overhaul of the U.S. tax system in December."

Oh my. Isn't that a surprise?

Uh, no, it isn't.

U.S. Treasury Secretary Mnuchin urges Congress to raise debt ceiling a

...and yet the Treasury is collecting record tax revenues.

which part of lower government revenues did you not understand?

well we surely can't cut ANY federal spending...now can we?

For the millionth time, I support pay as you go. Give the people as much government as they want, as long as they have to pay for it when they get it.

 

[iamwhatiseem]

Oh, and from another link,

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Steven Mnuchin tells Congress to raise debt ceiling as soon as possible

They have to keep pumping up Wall Street....at all cost.

 

[BuckToothMoron]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.

I’d like to steer away from the socialistic nanny state at the federal level, and allow individual states to implement social programs as they see fit. Honestly, is there a single person in this country who doesn’t know of examples of fraud and abuse of these entitlements. Able people collecting a monthly check from the government. Social security was intended to be a safety net, but has turned into the primary source of funds for most retired Americans. What did people do before social security existed? They planned for their retirement and relied on the goodwill of their fellow man in times of need. Many Americans, primarily the lower socioeconomic class, have been robbed of upward mobility via these social programs. It’s a shame.

 

[NYcarbineer]

Oh, and from another link,

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Steven Mnuchin tells Congress to raise debt ceiling as soon as possible

They have to keep pumping up Wall Street....at all cost.

Wall Street appears to be entering a bad patch. Weak market this week, and despite a better than expected jobs number,
the futures show a triple digit loss in the Dow to open.

Down market on good news, not good.

 

[NYcarbineer]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.

I’d like to steer away from the socialistic nanny state at the federal level, and allow individual states to implement social programs as they see fit. Honestly, is there a single person in this country who doesn’t know of examples of fraud and abuse of these entitlements. Able people collecting a monthly check from the government. Social security was intended to be a safety net, but has turned into the primary source of funds for most retired Americans. What did people do before social security existed? They planned for their retirement and relied on the goodwill of their fellow man in times of need. Many Americans, primarily the lower socioeconomic class, have been robbed of upward mobility via these social programs. It’s a shame.

Well to harp on my previous post, I don't have so much problem with the federal government doing it as I have with the federal government doing it without paying for it as they do it.

 

[iamwhatiseem]

Oh, and from another link,

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Steven Mnuchin tells Congress to raise debt ceiling as soon as possible

They have to keep pumping up Wall Street....at all cost.

Wall Street appears to be entering a bad patch. Weak market this week, and despite a better than expected jobs number,
the futures show a triple digit loss in the Dow to open.

Down market on good news, not good.

Meh...you can't even begin to judge a market based on one week.
There have been 100 such mini-falls in the past few years that grew right back up.
At some point the bubble will burst, and just like 2008, it will be very swift and massive losses.

 

[HappyJoy]

"On Tuesday, he [Mnuchin] also testified in the Senate that he would be interested in bipartisan legislation to do away with the debt ceiling altogether."

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.

I’d like to steer away from the socialistic nanny state at the federal level, and allow individual states to implement social programs as they see fit. Honestly, is there a single person in this country who doesn’t know of examples of fraud and abuse of these entitlements. Able people collecting a monthly check from the government. Social security was intended to be a safety net, but has turned into the primary source of funds for most retired Americans. What did people do before social security existed? They planned for their retirement and relied on the goodwill of their fellow man in times of need. Many Americans, primarily the lower socioeconomic class, have been robbed of upward mobility via these social programs. It’s a shame.

Well, before social security existed many elderly ended up in poverty.

Social Security and Poverty Among the Elderly - Embargoed Press Release - 4/8/99

Social Security reduces the proportion of elderly people living in poverty from nearly one in two to fewer than one in eight, according to a new study released today of Census data. The study found that in 1997, nearly half of all elderly people — 47.6 percent — had incomes below the poverty line before receipt of Social Security benefits. After receiving Social Security benefits, only 11.9 percent remained poor.

As a result, the study said, Social Security raised out of poverty more than one in every three elderly Americans. The program lifted 11.4 million elderly people above the poverty line.

Without Social Security, the study found, 15.3 million elderly had incomes below the poverty line. After Social Security, only 3.8 million elderly did. Three-fourths of those elderly people who would have been poor without Social Security were lifted from poverty by it.

The study, "Social Security and Poverty Among the Elderly," found Social Security's effects in shrinking poverty to be most striking among elderly women. Seven million of the 11.4 million elderly people whom Social Security lifted from poverty in 1997 — more than 60 percent — were women.

 

[BuckToothMoron]

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.

I’d like to steer away from the socialistic nanny state at the federal level, and allow individual states to implement social programs as they see fit. Honestly, is there a single person in this country who doesn’t know of examples of fraud and abuse of these entitlements. Able people collecting a monthly check from the government. Social security was intended to be a safety net, but has turned into the primary source of funds for most retired Americans. What did people do before social security existed? They planned for their retirement and relied on the goodwill of their fellow man in times of need. Many Americans, primarily the lower socioeconomic class, have been robbed of upward mobility via these social programs. It’s a shame.

Well to harp on my previous post, I don't have so much problem with the federal government doing it as I have with the federal government doing it without paying for it as they do it.

The problem occurs when more and more people decide they would rather be a net receiver than a net tax payer, and that has been the trend for decades. How liberals don’t recognize this is befuddling.

 

[BuckToothMoron]

Do away with, as in NO ceiling, or do away with, as in a balanced budget?

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.

I’d like to steer away from the socialistic nanny state at the federal level, and allow individual states to implement social programs as they see fit. Honestly, is there a single person in this country who doesn’t know of examples of fraud and abuse of these entitlements. Able people collecting a monthly check from the government. Social security was intended to be a safety net, but has turned into the primary source of funds for most retired Americans. What did people do before social security existed? They planned for their retirement and relied on the goodwill of their fellow man in times of need. Many Americans, primarily the lower socioeconomic class, have been robbed of upward mobility via these social programs. It’s a shame.

Well, before social security existed many elderly ended up in poverty.

Social Security and Poverty Among the Elderly - Embargoed Press Release - 4/8/99

Social Security reduces the proportion of elderly people living in poverty from nearly one in two to fewer than one in eight, according to a new study released today of Census data. The study found that in 1997, nearly half of all elderly people — 47.6 percent — had incomes below the poverty line before receipt of Social Security benefits. After receiving Social Security benefits, only 11.9 percent remained poor.

As a result, the study said, Social Security raised out of poverty more than one in every three elderly Americans. The program lifted 11.4 million elderly people above the poverty line.

Without Social Security, the study found, 15.3 million elderly had incomes below the poverty line. After Social Security, only 3.8 million elderly did. Three-fourths of those elderly people who would have been poor without Social Security were lifted from poverty by it.

The study, "Social Security and Poverty Among the Elderly," found Social Security's effects in shrinking poverty to be most striking among elderly women. Seven million of the 11.4 million elderly people whom Social Security lifted from poverty in 1997 — more than 60 percent — were women.

What is poverty, I mean what is the technical definition to be considered on poverty?

 

[NYcarbineer]

Republicans can never balance the budget because they won't raise taxes and they won't rein in defense spending.

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.

I’d like to steer away from the socialistic nanny state at the federal level, and allow individual states to implement social programs as they see fit. Honestly, is there a single person in this country who doesn’t know of examples of fraud and abuse of these entitlements. Able people collecting a monthly check from the government. Social security was intended to be a safety net, but has turned into the primary source of funds for most retired Americans. What did people do before social security existed? They planned for their retirement and relied on the goodwill of their fellow man in times of need. Many Americans, primarily the lower socioeconomic class, have been robbed of upward mobility via these social programs. It’s a shame.

Well to harp on my previous post, I don't have so much problem with the federal government doing it as I have with the federal government doing it without paying for it as they do it.

The problem occurs when more and more people decide they would rather be a net receiver than a net tax payer, and that has been the trend for decades. How liberals don’t recognize this is befuddling.

Are you aware that Trump's tax plan increases the number of households that pay no income tax?

 

[BuckToothMoron]

Hahahahahah, another liberal who whines about too much defense spending, but ignores the elephant in the room...wait for it.....ENTITLEMENT SPENDING.

So you'd like to cut Medicare, Medicaid, and Social Security to finance more unnecessary spending on the military.

I’d like to steer away from the socialistic nanny state at the federal level, and allow individual states to implement social programs as they see fit. Honestly, is there a single person in this country who doesn’t know of examples of fraud and abuse of these entitlements. Able people collecting a monthly check from the government. Social security was intended to be a safety net, but has turned into the primary source of funds for most retired Americans. What did people do before social security existed? They planned for their retirement and relied on the goodwill of their fellow man in times of need. Many Americans, primarily the lower socioeconomic class, have been robbed of upward mobility via these social programs. It’s a shame.

Well to harp on my previous post, I don't have so much problem with the federal government doing it as I have with the federal government doing it without paying for it as they do it.

The problem occurs when more and more people decide they would rather be a net receiver than a net tax payer, and that has been the trend for decades. How liberals don’t recognize this is befuddling.

Are you aware that Trump's tax plan increases the number of households that pay no income tax?

So what? I thought we were discussing your idea that GOP can balance the budget by cutting defense spending, and my position is the problem is entitlement spending. The issue is less about revenue and more about spending, IMO.

With regards to cutting defense spending to balance the budget, the following numbers are for total defense budget.
Current US Defense Spending
Year Military Spending -Veterans Foreign Aid Total Defense
2016 $593.40 billion $175.40 billion $45.30 billion $814.10 billion
2017. $600.30 billion $177.40 billion $46.30 billion $824.00 billion
2018 $652.60 billion $178.70 billion $55.50 billion $886.80 billion
2019 $675.10 billion $195.40 billion $46.00 billion $916.50 billion

These numbers are federal deficit.
2015 $438
2016 $585
2017 $666
2018 (

I assume you wouldn’t want to cut any money spent on Veterans, so that leaves gutting foreign add and military spending. Tell me what and where you cut to balance the budget.


Now take a look at this chart and tell me if you think you can find more ways to take care of the deficit by controlling entitlements.