What’s Happening with the Federal Budget and Debt Ceiling?

[maddog42]

I'd say there is about a 5% chance that SS checks will be delayed. Maybe less. Republicans are threatening to shut down the government again. Cuts to Social Security are one of the sticking points.


http://billmoyers.com/2013/08/17/whats-happening-with-the-federal-budget-and-debt-ceiling/

[lamboguy]

they don't care if people get their social security, the government employees have nothing to do with that fiasco they get pension's, and i know guys that are getting 3 or 4 different government pensions.

[Clocker]

I'd say there is about a 5% chance that SS checks will be delayed.

Not going to happen. SSA has its own income source for most of the funds it needs as FICA payroll tax payments from employers go directly to SSA. That doesn't cover all current expenditures, so SSA has to cash in some of the Treasury bonds it got when it previously lent surplus funds to Treasury. Treasury currently owes SSA over $2 trillion. If Treasury does not honor that debt, the US Government would be technically in default. No matter what devious, shifty, or illegal measures it takes, Congress and the administration are not going to let the country default on debt.

[Robert Goren]

You can bet the tea party congressmen will make sure their paychecks have been direct deposited on time and their insurance is paid up. Everybody else, that is a different story......

[Clocker]

As to what is going on with the debt ceiling, the government is engaged in its usual creative bookkeeping. The Treasury Department's Financial Management Service (FMS) reported that in July the federal government ran a deficit of $98 billion but that the federal government's debt remained exactly $16,699,396,000,000 for the entire month.

The FMS said that the deficit went up $98 billion ($97,594,000,000) in the Monthly Treasury Statment for July, which it released on Monday.

At the same time, the FMS said the debt stayed at exactly $16,699,396,000,000 in its Daily Treasury Statements, which are published every business day. The Daily Treasury Statements show the daily value of the federal government debt that is subject to a legal limit set by Congress.

At the static $16,699,396,000,000 level that the Treasury reported for every day of July, the debt was just $25 million below the legal limit of $16,699,421,000,000 that was set in a law passed by Congress and signed by President Barack Obama.

- See more at: http://cnsnews.com/news/article/treasury-ran-98-billion-deficit-july-debt-stayed-exactly-16699396000000#sthash.reECy7X4.dpuf

[Greyfox]

Has there been a Federal Budget in 5 years??:confused:

[Tom]

You can bet the tea party congressmen will make sure their paychecks have been direct deposited on time and their insurance is paid up. Everybody else, that is a different story......
Do you buy this nonsense on line or what?

www bullshit_cheap.com ??? :lol: :lol: :lol:

[Tom]

Has there been a Federal Budget in 5 years??:confused:

I thought the government WAS shut down?

[Clocker]

I thought the government WAS shut down?

They are only functionally shut down. They still go to the office every day and draw a pay check.

[iwearpurple]

They are only functionally shut down. They still go to the office every day and draw a pay check.

Except for Lois Lerner, who stays home and draws her hefty paycheck.

[Clocker]

Except for Lois Lerner, who stays home and draws her hefty paycheck.

I wonder who I can talk to in Washington about taking her job. I can do it twice as well for half the salary.