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Austerity will kick U.S. out of comfort zone

Posted: October 16, 2013 - 3:31pm  |  Updated: October 17, 2013 - 8:57am

A default on the U.S. debt is a fallacy. Government is taking in plenty of tax money to cover the carrying costs of our debt. However, there will be significant austerity that will hit the American people if politicians do not raise the debt limit. Just like all other nations who have lived beyond their means, cuts will be implemented. Is there an alternative?

On Sunday (Oct. 13). Yahoo news published an article concerning Jamie Dimon of JP Morgan bank. The article did not talk about JP Morgan’s last quarter loss of $380 million. Nine billion in legal expenses fighting government corruption charges was the cause for their monetary loss.

Dimon did state how disastrous a U.S. default would be to the world’s economy. Really. Perhaps his fear is the repercussion of the austerity coming to the USA. He sees what has happened in other nations when people lose their benefits/handouts from government. Rebellion. What we see around the world is a failed economic system developed 100 years ago in the USA and spread around the world like a cancer.

JP Morgan and other banks “too big to fail/jail” fear the awakening of the sleeping giant in America, the people. When we feel the pain of austerity and realize both major political parties are under the demands of the banks we will look for honest answers to the tough questions. We continue to sleep because we are comfortable. Austerity is about to kick us out of our comfort zone.

The alternative answers are there but first we will feel the sting of our failed monetary and fiscal policies. Then we will start asking the tough questions and look for honest answers. When we are ready to unite as a people great things can be accomplished.

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RaySouthwell
1026
Points
RaySouthwell 10/17/13 - 09:43 am
0
0
Debt Crisis diverted for a few months

Debt crisis diverted for a few months. If my memory serves me our government takes in $800 billion in taxes/year. Interest on the debt is between $300-500 billion/year. Plenty of room to pay the interest on the national debt. Why does Congress, Banks, and the Media continue to talk about a debt default?

And the only way to balance the debt is on the backs of the people. I wonder what would happen if we closed half of our military bases around the world? What would be the savings de-funding drone assassination strikes around the world? How much could be saved if we de-funded the NSA spy program? No, lets takes grandma’s social security check.

One more question. Why do we pay interest on money created by the private Federal Reserve Bank? Could we save $300-500 billion/ year by printing our own currency rather than Federal Reserve Currency? Presidents Lincoln and Kennedy did.

amyw
26
Points
amyw 10/17/13 - 12:31 pm
0
0
We The Props

I counted ten references to 'we', 'us', or 'our'.

The government is a historical reenactment club, complete with uniforms and membership dues. They are, essentially, an ultra-organized LARPing association that has gotten so prevalent and so visible, that some people on the inside think the club must necessarily include everyone. Well - it doesn't.

KenaiKardinal88
474
Points
KenaiKardinal88 10/17/13 - 03:10 pm
1
2
$125,000 per American DEBT - Hall of Shame

The finger of disgust points directly at Obama and the Democrat Senate - Alaska's Senator Begich.

The debt has doubled under Obama.

Begich was a key vote for ObamaCare.

Murkowski got elected by rural natives who have unlimited needs.

Only a Tea Party can save us from these liberals.

Norseman
3593
Points
Norseman 10/17/13 - 06:32 pm
2
1
The tea party nitwits just

The tea party nitwits just cost the USA 24 billion.

ronleonard
14
Points
ronleonard 10/17/13 - 08:47 pm
0
2
@norseman

how much do you suppose Obama care cost us so far? try 670 billion so far, and on the way to two trillion with a T, and it not work, will never work, and is totally unaffordable for anyone but low life low information liberals who get subsidized now go back to your mothers basement and grow up.

Raoulduke
3055
Points
Raoulduke 10/18/13 - 01:07 am
1
0
In 18 days

R.L.-The ACA has been in effect for 18 days,and it has cost $670 Billion?I could understand it if was 18 years,but not just 18 Days.Sorry! I just can not buy into those figures,and Where did you get your figures? Fox,Limbaugh,Who? Show me your source for these figures PLEASE!

BigRedDog
659
Points
BigRedDog 10/18/13 - 05:04 am
0
0
It's the zeros in the budget

Is there somebody out there that just doesn't understand trillions? Does that many zeros in a line make it easy to hide the real price, the cost to each tax paying citizen. I received an email a couple of year ago that put it very clear. The author took 8 zeros of each line to put the thought into better perspective.
Just add 8 zeros and change the name to national budget line items. Yearly income is $21,700 from all sources, yearly expenses $38,200 which leaves an annual debt of $16,500 put right on the old credit card. After a great soul searching cost are cut by a yearly sacrifice of $385 straight across the board. Leaving the total accumulated debt of $142,710 to sit and grow by whatever interest the bank chooses.
How can ANYBODY with a brain think it is right or proper to leave our children this debt? You see there are states where the old folks can run up huge debts just prior to passing away and their children get hung out for that expense! sorry Charlie but you should have watched your parents spending a little better! Are your parents represented by the US Gov. in this little plan?

BigRedDog
659
Points
BigRedDog 10/18/13 - 05:04 am
0
0
It's the zeros in the budget

Is there somebody out there that just doesn't understand trillions? Does that many zeros in a line make it easy to hide the real price, the cost to each tax paying citizen. I received an email a couple of year ago that put it very clear. The author took 8 zeros of each line to put the thought into better perspective.
Just add 8 zeros and change the name to national budget line items. Yearly income is $21,700 from all sources, yearly expenses $38,200 which leaves an annual debt of $16,500 put right on the old credit card. After a great soul searching cost are cut by a yearly sacrifice of $385 straight across the board. Leaving the total accumulated debt of $142,710 to sit and grow by whatever interest the bank chooses.
How can ANYBODY with a brain think it is right or proper to leave our children this debt? You see there are states where the old folks can run up huge debts just prior to passing away and their children get hung out for that expense! sorry Charlie but you should have watched your parents spending a little better! Are your parents represented by the US Gov. in this little plan?

Suss
3885
Points
Suss 10/18/13 - 06:13 am
0
0
Borrowing from Sarah

As the Tea Party queen Sarah would say, "Quit making things up". There is always a talking head out there that does not need facts or figures to make incredulous statements to inflame their base.
Everyone is required to do their own homework and fact checking, Mr. Leonard failed this task.

RaySouthwell
1026
Points
RaySouthwell 10/18/13 - 06:40 am
0
0
Honest questions

Wow, were just like puppy dogs. Lapping up what DC and the media tells us. Divide the people and ignore the behavior of the banks. I just can’t believe people see a difference between the political parties. Liberals are going to save us, No Tea party conservatives are going to save us. Did any of them raise any honest questions or solutions-NO. I read complaints here but where are the honest questions. I re-state them from my first post.

"And the only way to balance the debt is on the backs of the people. I wonder what would happen if we closed half of our military bases around the world? What would be the savings de-funding drone assassination strikes around the world? How much could be saved if we de-funded the NSA spy program? No, lets takes grandma’s social security check.

One more question. Why do we pay interest on money created by the private Federal Reserve Bank? Could we save $300-500 billion/ year by printing our own currency rather than Federal Reserve Currency? Presidents Lincoln and Kennedy did."

Wake up folks this divisiveness is the root cause of the problem.

amyw
26
Points
amyw 10/18/13 - 08:09 am
0
0
We The Props

"This divisiveness is the root cause of the problem."

No, it isn't. There is no mandate from on high for everyone to agree. The root cause of the problem is false unity.

"Some people on the inside think the [government] club must necessarily include everyone."

It doesn't.

RaySouthwell
1026
Points
RaySouthwell 10/18/13 - 08:44 am
0
0
No two people agree on everything

Divisiveness on the peripheral issues without looking at the our financial mess. If we asked the tough questions and look for answers it becomes clear on what we should do. But we keep the blinders on. Government has a purpose. Amwy-answer the questions I raised.

amyw
26
Points
amyw 10/18/13 - 08:51 am
0
0
Like These?

"I wonder what would happen if we closed half of our military bases around the world?"

Gee, I dunno. I wonder what would happen if the 2/3rds of the American population that doesn't habitually vote stopped being thought of as 'American'?

I wonder what would happen if a butterfly flapped its wings in the Sahara tomorrow at 9:02am? We need to answer these tough questions.

RaySouthwell
1026
Points
RaySouthwell 10/18/13 - 09:19 am
0
0
Foolishness

That is my point. Foolishness to keep us divided.

amyw
26
Points
amyw 10/18/13 - 09:32 am
0
0
So...

The questions you asked were just foolishness to keep us divided?

I'm trying to be objective - you say 'our' military bases as if 'we' somehow 'own' them, or they 'belong' to 'us'. I don't know where you get your information, but I certainly don't own a military base - whether collectively or not. As far as I'm concerned, all of your questions are as useless as they are flawed on the precept that there is this great 'we' that the great 'we' agrees exists. That's convenient philosophy, until you start interacting with real people.

"Why do we pay interest on money created by the private Federal Reserve Bank?"

Again - gee, I dunno. Maybe it's because 'we' identify with the 'we' that does these stupid things. And maybe 'we' should stop that. And maybe the people that already have stopped shouldn't be lumped in with the 'we'.

Stop amalgamating mythical masses of people as though you know everything about them. It perpetuates the underlying problem of false unity.

RaySouthwell
1026
Points
RaySouthwell 10/18/13 - 09:43 am
0
0
Our Debt

Our military bases because it is our credit that supports them. The debt of the nation is ours. Unless you are not a citizen and use no benefits.

amyw
26
Points
amyw 10/18/13 - 09:45 am
0
0
See?

"The debt of the nation is ours."

And that is the only reason it is.

RaySouthwell
1026
Points
RaySouthwell 10/18/13 - 03:56 pm
0
0
The problem

And that is the problem I see with the people. Ignore the problem. Unfortunately the banks and international communities holding our debt will not allow us to keep our dollar standing as the Worlds Reserve Currency. Look around the world and see the Austerity unfolding in multiple nations. But we are the great United States. Never happen here just ignore it.

janetate
21
Points
janetate 10/20/13 - 04:18 pm
2
0
The purpose of the Affordable

The purpose of the Affordable Care Act in the long run is to bring down costs – the US is currently #1 per capita in cost- and to improve quality- U.S is # 37, according to the World Health Organization. It is to force, and also to allow, people to take responsibility for their health care. That is by allowing those who cannot get insurance now because of a pre-existing condition or a job like working at WalMart to buy insurance, and also by no longer allowing people to freeload.

People who defend those Republicans who burdened us with this shutdown need to go back to 8th grade civics class. The Affordable Care Act was passed by both branches of Congress more than 3 years ago. Like it or not. Our elected representatives are not there to hold their breath till they turn purple hoping to get their way everytime something happens they don't like.

Amy W, I wonder how somehow you have managed to not participate at all in the ‘government’. Ever paid a dollar of income tax? Well, 50 cents of that went to defense spending and thus to bases overseas. I also agree that we can stop paying for bases in countries that enjoy a higher standard of living than we do. Their savings on defense allow their tax money to go to other things: efficient single –payer health care systems, for example. Amy W, I am assuming you do not use roads, public education, our monetary system, etc. etc. etc.

I think that if Obama were white and not so intelligent, a lot of his bashers could relate to him better and would find other things to complain about. I know that the fat cats love to see us working people squabbling with each other over unions, health care, guns, etc. It keeps us from rocking the boat or wondering why our society has become so unequal. Divide and conquer.

RaySouthwell
1026
Points
RaySouthwell 10/21/13 - 07:07 am
0
0
divide and conquer

Janetate-You follow the fat cats lead. Its all the Republicans fault and anyone objecting to our presidents behavior must not like the color of his skin.

I don't think President Obama is any smarter than President Bush, just more charismatic. I wonder what would have happened if President Bush used drones for assassinations.

Perhaps he did but in secret.

Both parties have failed the people.

Raoulduke
3055
Points
Raoulduke 10/21/13 - 08:07 am
1
0
smarter

R.S.-I have to disagree.Bush could not hold a candle to Obama's Intelligence period.If you want to get Bush's quotes.Google search-"Chimp-O-Matic" for Bushism's after reading a few of those.You will be agreeing with me.

RaySouthwell
1026
Points
RaySouthwell 10/21/13 - 08:44 am
0
0
Does intelligence matter?

raoulduke. Both Bush and Obama sold us out to the banks. Obama is just smoother doing it. Perhaps he is more intelligence in deceiving the American people. After all, where is the outrage concerning the NSA spying or drone strikes. I just heard today we are giving Pakistan over $1 billion dollars. Perhaps it helps pay for the 400 civilians killed by our drone strikes. But lets take grandma's Social Security checks. Austerity to the American people and more money for the war machine.

amyw
26
Points
amyw 10/21/13 - 10:14 am
0
0
User

"I wonder how somehow you have managed to not participate at all in the ‘government’."

"I am assuming you do not use roads, public education, our monetary system, etc. etc. etc."

The first step in non-participancy is the denial of associative identity. While governmental forces may legitimately be 'influencers' of my environment, I do not (nor do many) hold these influencers in any higher regard than another, less ostentatious influencer, nor do I choose to think of myself as affiliated or 'assimilated' with them - and I resent the arrogant snobbery that assumes that I do. These [those that belong to the governmental cult] are merely people with ideas concerning reality stuck in their heads - and this alone does not make them superior, more right, or less vulnerable than myself or anyone else with ideas concerning reality.

I do use and contribute to roads, public education, and monetary systems. I do so because it is temporarily convenient - I am not, however, forever and eternally bound to this so-called convenience.

"...the effort to free the Arabic People from Turkish rule was accomplished not when the last battle had been won but when the majority of the Arabic people no longer accepted Turkish rule as legitimate. At that point they were free. It only remained for them to stay loyal to their belief in freedom long enough for the struggle to work out the details of when and how the Turks would leave."

- T.E. Lawrence

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