Brian Schatz

[Old Croc]

 Yesterday I received my e-mail from Brian Schatz boasting about the “billions [wasted] in funding for programs that support community health centers in Hawai‘i, affordable housing programs, and the Honouliuli National Monument.” No wonder Schumer and Pelosi are gloating. Trump and the Republicans are sheep.

[Kapoho Joe]

We need all that Federal money to support Native Hawaiians because OHA doesn't do anything with the money the State gives them.

[Chunkster]

@ Kapoho Joe: I agree with your sentiment, but it isn't that OHA doesn't do anything with the money from the State. It's what they do with it that is problematical. That's why the FBI and the Attorney General are investigating them right now for corruption. I'm sure the Feds could stay busy for years if they move on to some other state agencies and years beyond that if they move on to the counties.

[terracore]

If, in some fantasy land, the USA was receiving 1 dollar more per second than it was spending AND there was no interest on the debt: If the US debt was 1 million dollars, it would take about 12 days to repay the debt.

A trillion dollars, however, repaid at the same rate, would take nearly 32,000 years to repay.

So it doesn't matter if the USA debt is 1 trillion dollars, or 21 trillion (today's amount), neither amount can ever be repaid.

It's not a debt, it's a ponzi scheme that started in 1971 when Nixon took the world off the gold standard and the events that happened thereafter. There have been ~5 sizeable recessions since then, the last 3 each substantially worse than the one before, the last one called "The GREAT recession" only ended with massive bailouts and debt doubling nobody thought was even possible.

More than likely, the next recession will be the last one under the economic system that was implemented after 1971.

I don't disagree about the sheep comment, but the complete abandonment of even pretend fiscal responsibility by either party is probably just the small orchestra playing so everybody on this ship is distracted from the fact that it is sinking.

[Midnight Rambler]

quote:

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Originally posted by terracore

If, in some fantasy land, the USA was receiving 1 dollar more per second than it was spending AND there was no interest on the debt: If the US debt was 1 million dollars, it would take about 12 days to repay the debt.

A trillion dollars, however, repaid at the same rate, would take nearly 32,000 years to repay.

So it doesn't matter if the USA debt is 1 trillion dollars, or 21 trillion (today's amount), neither amount can ever be repaid.

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Well currently, the US federal government receives $104,642 per second, so a $1/second surplus is pretty tiny. For comparison, in 2000 there was a budget surplus of $236 billion, or receiving $7,483 per second more than we were spending.

Also, it's bad to be addicted to borrowing in general, because it's a hard habit to break. But borrowing when the interest rate is lower than the inflation rate means you ultimately come out ahead. The problem is that the idiots in charge of Congress consistently cut taxes in good times, and then scramble to cut spending during recessions when interest rates are usually low, instead of the other way around.

[terracore]

"in 2000 there was a budget surplus of $236 billion, or receiving $7,483 per second more than we were spending"

That blip on the radar was actually from changing the accounting rules, not an actual budget surplus. Virtually every administration has done it to some degree or another. I remember when Reagan added military members to the "employed" column (where no such column existed before for military) and instantly the "unemployment" rate dropped.

ETA: need to add that the interest alone on the USA ponzi scheme is currently about a half trillion per year, double the amount of the "surplus" in the example above.

[HereOnThePrimalEdge]

programs that support community health centers in Hawai‘i, affordable housing programs

The alternative to community health centers for many people with an illness is the emergency room. An emergency room visit can easily cost over 10 times more than seeing a doctor at a care center for an identical treatment. Most people who visit an emergency room without insurance don't pay for it, taxpayers do. Health centers save taxpayers millions of dollars in Hawaii.

Housing in Hawaii is simply unaffordable for many people, including working families. Affordable housing helps people purchase a home, or pay rent. Without it, some would be homeless. Homeless people have more health problems. (See above for emergency room vs care center options)

If you want to combine the dual pleasures of insanity and social acceptance, religion is your only choice. - Last Aphorisms

[Mimosa]

In about 2 years the entire economy as we now know it - will tank and it will not be a recession but a prolonged depression.
Interest rates will be above 10 - 20 percent monthly - social safety net will dry up and the Govt will devalue the green paper by 50 percent or more.
China and England will call in their collective loans and with no money to pay them back the U.S.A. will turn into another Greece .OR print more green paper to further the decline that is on the horizon .
The sheeple will be hungry and homeless .
No jobs - no welfare state - so prepare now by growing more food and band together well armed to protect your assets.
Pay off all debts and rid yourselves of all un necessary bling .
Many here that owe on homes and vehicles will be leaving in droves .
The writing is on the proverbial wall.
This is our perspective as history has a way of repeating itself.
Mrs.Mimosa

[PaulW]

I think (hope?) you're completely wrong Mrs Mimosa but we can check these predictions. Please give a specific date by when this should have started.
01/01/2020? 01/01/2021?

[Mimosa]

Research the GREAT DEPRESSION in the 1920s and the 1930s .
We were just kids then .
Wars keep the economy going.
Research the C.C.C. during the Great Depression .
Know your world and U.S.A. history .
It started when Nixon took us off the gold standard .
The collective debt currently is out of control .
No dates as to when but with in 24 months give or take 6 months in our perspective PaulW.
Mrs.Mimosa