U.S. Debt Ceiling

[tieguy]

if they predict 1.27 Trillion, it'll be more like 1.5 Tr.
If my math is correct, even at 1.2 Trillion, it works out to over $4000 added in federal debt for every man, woman, child in the US, next year alone.
Not including extra state deficits.

The republicans have taken control of one of the three with the democrats controlling the senate and presidency. The republicans at this point have done nothing other then refamilarize theirselves with the wording fo the constitution. yet all of a sudden the republicans have supposedly done all this damage. Talk about smelly underwear.

 

[klein]

That's not even the only fiscal problem, soaring food prices will also take a nice chunk of income.

I.E.: dairy products up 23%, sugar up 38%, coffee up 50%, pototoes up 52% !

Should be comming to a news station near you soon !
http://www.ctv.ca/CTVNews/TopStories/20110106/commodity-prices-raising-cost-of-food-110106/

 

[tieguy]

That's not even the only fiscal problem, soaring food prices will also take a nice chunk of income.

I.E.: dairy products up 23%, sugar up 38%, coffee up 50%, pototoes up 52% !

Should be comming to a news station near you soon !
http://www.ctv.ca/CTVNews/TopStories/20110106/commodity-prices-raising-cost-of-food-110106/

http://dictionary.reference.com/browse/fiscal

 

[moreluck]

I just got a whole chicken for $2.50 to make homemade soup. That's a "soaring food price" I'll take 7 days a week. You can still get premium pasta (Ronzoni, Barilla) for $.50 a pound if you're a good coupon shopper. Stores alternate sales at 10 for $10 and coupons make it even better. That's why I question how the fancy-ass Italian restaurant can charge $20 for a pasta entree !! Hello, tomatoes aren't that high!! I just don't get it!

You want to see high food prices, move to Hawaii.

 

[tieguy]

I believe commodities like suger and coffee are subject to the market speculators and world weather conditions.

I would think our US farming industry would continue to operate efficently.

I didnt think food prices were really considered a factor of us fiscal policy. I definitely did not know canadian food pricing affected US fiscal policy.

I'm surprised Herr Klein is not educating american wall streeters with such profound wisdom.

 

[curiousbrain]

There was a lesser known Senate candidate in Connecticut, Warren Mosler, that had some interesting things to say about the United States and its debt problems - in a nutshell, he made the argument that any concerns over federal debt are essentially meaningless because they create the money (via the Federal Reserve) and regulate the entire economy via taxes - he argues the primary purpose of taxation is not to generate revenue, but rather to regulate aggregate demand throughout the economy.

Not to say I agree with it, but it seemed relevant to the discussion. His page where he explains his views better then I can do them justice is here, although be aware that there is some self-promotion scattered throughout.

 

[klein]

I just got a whole chicken for $2.50 to make homemade soup. That's a "soaring food price" I'll take 7 days a week. You can still get premium pasta (Ronzoni, Barilla) for $.50 a pound if you're a good coupon shopper. Stores alternate sales at 10 for $10 and coupons make it even better. That's why I question how the fancy-ass Italian restaurant can charge $20 for a pasta entree !! Hello, tomatoes aren't that high!! I just don't get it!

You want to see high food prices, move to Hawaii.

Or Alaska !

I just finished my last bowl of homemade chicken soup (had a whole 5qt slowcooker made yesterday). It contained the meat of 6 drumsticks (de-skinned after 1st cooking),
new baby potatoes cut in wedges, baby carrots, cabbage, celery, onion & garlic clove, salt, pepper, nutmeg to season, plus some dry chicken stock powder and a veggie soup cube to season.

Was soo yummy !

Tie: has nothing to do with the US fiscal policy, but the fiscal responsibilty of every citizen, and how it will effect their wallets .
Sooner or later the fed will make some significant cuts and raise taxes, plus ofcourse the higher food prices will effect everyone just a bit more.

I'm like More, signed up for internet safeway coupons, shop by the flyer, and collect as many airmiles as I can doing my grocery shopping.
Already made up my grocery list for the week this morning (today was new flyer and new e-coupons).
Will spend $100, will gain 185 airmiles (1 airmile is actually 1 mile distance), and save probably around 30% on top of all that (total grocery bill will be $130+ and come down to $100. (plus receiving 185am's is $26 going towards my "travel savings account").

 

[island1fox]

I realize that we have deviated from the debt ceiling but with all the comments on rising costs but has anyone noticed the price of gasoline. When we started paying close to four bucks per gallon the press were all over Bush --Cheney for being too friendly with big oil.
Where is the press now ? With gasoline and heating costs rising every week , health care premiums skyrocketing because of government mandates,rumours of a VAT tax ,
no offshore oil drilling, green energy options that are way overpriced( check out the cost of solar panels) and no end in sight for high unemployment.
Nancy Pelosi stood in front of the press just this week and firmly stated that for the last four years (House and Senate Democrate control) the democrats have used "pay as you go" and focused on reducing the debt.
Are we that stupid or is she that crazy ??

 

[klein]

I read todays headline, California to praise itself for a 59% hike in health insurance.

"Bottom Line" on CNN reported this morning, that $5.00 a gallon is very possible.

 

[tieguy]

Or Alaska !

Tie: has nothing to do with the US fiscal policy, but the fiscal responsibilty of every citizen, and how it will effect their wallets .

you did reference US fiscal policy though so you did it make US fiscal policy the topic.

Sooner or later the fed will make some significant cuts and raise taxes, plus ofcourse the higher food prices will effect everyone just a bit more.

the fed can raise interest rates they do not raise taxes.

I'm like More, signed up for internet safeway coupons, shop by the flyer, and collect as many airmiles as I can doing my grocery shopping.
Already made up my grocery list for the week this morning (today was new flyer and new e-coupons).
Will spend $100, will gain 185 airmiles (1 airmile is actually 1 mile distance), and save probably around 30% on top of all that (total grocery bill will be $130+ and come down to $100. (plus receiving 185am's is $26 going towards my "travel savings account").

 

[klein]

I don't have a problem ! Canada isn't in a credit-crunch. Not expecting any new or higher taxes here.
And actually, most of the food price-hikes have been swallowed by the higher Canadian Dollar (cheaper food imports from the US, and food commodities paid in US funds).

I just like to sit and watch, what your government will be doing to get things back in order and debt under control.

 

[UpstateNYUPSer(Ret)]

Klein, the exchange rate as of 1/7 was $1CDN = $1.0083US So much for your cheaper imports theory.

 

[klein]

Klein, the exchange rate as of 1/7 was $1CDN = $1.0083US So much for your cheaper imports theory.

Look back 2 years ! 1 cdn dollar was 80 cents US ! So, we gained 20%.

Look even further back to 1991, and it was just over 60 cents.( or 1 USD bought $1.50 CDN).!!- now , you only get 99 cents, but with bank exchange fees, more like 95 cents cdn.

 

[tieguy]

Jones you edited my comment where I said I didnt care how klein managed his money? seems pretty tame to me?

shouldnt I recieve a private message letting me know of the infraction so I dont committ the same capital crime again?

 

[Jones]

Jones you edited my comment where I said I didnt care how klein managed his money? seems pretty tame to me?

shouldnt I recieve a private message letting me know of the infraction so I dont committ the same capital crime again?

You know what you wrote and you know why it was edited.

 

[Lue C Fur]

You know what you wrote and you know why it was edited.

Was it something juicy?

 

[tieguy]

Was it something juicy?

I must have hurt jones feelings. Maybe he cuts a lot of coupons when he goes grocery shopping.

I actually dont know what I said that was offensive to anyone. thats why I asked.

 

[tieguy]

I do think the process should have some integrity and generate a private message.

 

[tieguy]

I do think the process should have some integrity and generate a private message.

guess not.

 

[over9five]

I do think the process should have some integrity and generate a private message.

I agree. Which is why I've sent for our friend Integrity to check into this. We will get to the bottom of this.