Debt ceiling UP tomorrow, Spending cuts some time in the future - MAYBE, Debt UP by about 2.5 trillion by the 2012 Election. Debt problem WORSE by 2012. BEWDY OBAMA!!! OC
it's just about being able to have an election campaign without the issue being clouded by anything as trivial as a sovereign default which a candidate might unfairly use as a campaign platform.
Are you serious? He gets an extra $2.1T immediately, without any constraints on spending, while they form a committee to identify how they might save $2.5T over 10 years. In 10 years time $2.5T will probably be worth about $2.5M in today's purchasing power. :lol:
They are running at US$1.6 trillion deficit EVERY year. With these figures, I cannot see ANY reduction inside 2 years, and probably longer. So the present US$14.3 Mastercard balance WILL be ~ US$17 Trillion before they even start doing anything about it all. BUY MORE SILVER!!!!!!! OC
lol - the Republicans are a bunch of sellouts! They had their asses handed to them with this "deal" ...
I think what this will do is push the states over the edge- the costs of programs will be transferred to the states- the week- I got my increased property tax bill. The state pushed costs onto the local level- which raised my tax 15%, on my opulent under-assessed mansion.
centrAl PA, Just out of curiosity, what would the 'average' property taxes be in your city? I am having a quiet look at Las Vegas for a possible apartment purchase in a couple of years or three, and they seem to be in the low $2000s. I have heard of bills well over US$6000 a year. Loved Gettysburg, very sad. OC
I have been looking at homes and condos in Las Vegas for years. The last house I looked at comes out like this: Sale price: $350,000 Market value: $237,151 Assessed at: $ 83,003 2010 property tax: $ 3,055 tax of 3.68% of assessed value tax rate varies from area to area, this rate is on the high side.
It is all a deliberate charade, designed to give enough time to generate the inflation needed to 'solve' the 'debt question'. As soon as they can crank up hyperinflation, starve the middle and lower economic class to death, then get on with re-designing America. OC