With no appropriations bill in sight, House GOP keeps kicking the can (otherwise government shutdown Oct 1st...Nov 17th...JanFeb...March...)

[Aldebaran]

Then explain to me what you think it is.

I think it's a charge for borrowed money generally a percentage of the amount borrowed

 

[JustOneWay]

I think it's a charge for borrowed money generally a percentage of the amount borrowed

Correct. The money goes from the borrower to the lender as a charge, just like every car loan, home loan or credit card. The 808 billion goes to the lender, and it is not wasted. The 808 billion goes to the investors who purchased the securities. They don't waste it....they spend it and keep people employed, and if they save it, the money is invested into other business or personal ventures.

 

[Aldebaran]

Correct. The money goes from the borrower to the lender as a charge, just like every car loan, home loan or credit card. The 808 billion goes to the lender, and it is not wasted. The 808 billion goes to the investors who purchased the securities. They don't waste it....they spend it and keep people employed, and if they save it, the money is invested into other business or personal ventures.

In other words, it goes to China.

 

[JustOneWay]

In other words, it goes to China.

You believe America borrows exclusively from China? Prove it. It is not true.

 

[Aldebaran]

You believe America borrows exclusively from China? Prove it. It is not true.

I would if I had claimed that we exclusively borrow money from China.

 

[Pommer]

A fair chunk of the debt is monies we owe to ourselves and we’re allowed to forgive ourselves of these obligations. Of course that would effectively end Social Security, and Medicare, but there’s a push for that in certain quarters anyways.

 

[Arcangl86]

In other words, it goes to China.

As well as many other nations, companies and individual people.

 

[Gene2memE]

About 30% of the US foreign debt is held internationally. Of that, about 11.5% is held by China.

That means roughly 3.5% of US debt payments go to China/Chinese nationals.

A substantial part of US foreign debt is also held by entities that are foreign flagged but partially owned by US entities. (Private equity, what is it good for?)

It's very hard to tell exactly how much, but estimates run anywhere from as low as 4% to up to 25%. That means that the notional foreign ownership of US debt is likely somewhat lower than the headline 30%.

 

[RoBo1988]

“It is a popular delusion that the government wastes vast amounts of money through inefficiency and sloth. Enormous effort and elaborate planning are required to waste this much money.”
― P.J. O'Rourke,

 

[KCfromNC]

Interest payments don't buy anything.

Do I really have to explain the basics of how loans work, or is this just post just pretending with this obtuse of an argument?

 

[JustOneWay]

I would if I had claimed that we exclusively borrow money from China.

You did. Perhaps you did not to intend to, but the vague writing below alludes to all the money going to China. Perhaps the next time it would be wise to be more concise with your words.

In other words, it goes to China.

I hope you don't waste your money on things like car loans, home loans or carryover credit card debt....I don't

 

[Aldebaran]

You did. Perhaps you did not to intend to, but the vague writing below alludes to all the money going to China. Perhaps the next time it would be wise to be more concise with your words.

I hope you don't waste your money on things like car loans, home loans or carryover credit card debt....I don't

I don't. I pay only what I have the money to cover right away. It prevents situations like what those who have student loans are going through ( a perfect example of how interest is a waste of money).

 

[essentialsaltes]

About a third of the 45 day reprieve has been wasted by GOP infighting.

 

[RoBo1988]

"The mystery of government is not how Washington works but how to make it stop." - P. J. O'Rourke

Maybe they have solved the mystery...

 

[Aldebaran]

About a third of the 45 day reprieve has been wasted by GOP infighting.

Even a dozen of the more than 200 democrats that keep voting against ANY Republican for House speaker could change that, but not a single one does. So it doesn't look like the House democrats really care about getting anything done, including averting a govt. shutdown.

 

[essentialsaltes]

Even a dozen of the more than 200 democrats that keep voting against ANY Republican for House speaker could change that, but not a single one does.

A dozen? Try 19.

Just 4 of the more than 200 Republicans who can't get their act together could change it too, but not a single one does.

It's how parties work. If you want a compromise candidate, the GOP will have to do quite a bit better than Jim Jordan.

Jordan's team is whipping supporters to vote against the resolution empowering McHenry​

That's what putting oneself ahead of getting anything done looks like.

 

[wing2000]

Even a dozen of the more than 200 democrats that keep voting against ANY Republican for House speaker could change that, but not a single one does. So it doesn't look like the House democrats really care about getting anything done, including averting a govt. shutdown.

Did any Republican vote for Nancy Pelosi as Speaker?
Of course not.

Historically, the conference members support whomever was selected during the pre-house floor vote. In this case that was Scalise. The burn-it-all-down contigent ignored tradition and history.

 

[MotoToTheMax]

Even a dozen of the more than 200 democrats that keep voting against ANY Republican for House speaker could change that, but not a single one does. So it doesn't look like the House democrats really care about getting anything done, including averting a govt. shutdown.

Or even less than a dozen of moderate Republicans could vote for Jeffries to avert a government shutdown, but the Republicans don't care about getting anything done.

But go ahead, keep trying to blame this circus on Democrats. Never stops being funny.

 

[Aldebaran]

A dozen? Try 19.

Just 4 of the more than 200 Republicans who can't get their act together could change it too, but not a single one does.

It's how parties work. If you want a compromise candidate, the GOP will have to do quite a bit better than Jim Jordan.

View attachment 337911

Jordan's team is whipping supporters to vote against the resolution empowering McHenry​

That's what putting oneself ahead of getting anything done looks like.

Whatever the exact number, the democrats have a larger number of members in the House who continue to vote against having a speaker by voting for a guy who they know won't win.

 

[Aldebaran]

Did any Republican vote for Nancy Pelosi as Speaker?
Of course not.

Historically, the conference members support whomever was selected during the pre-house floor vote. In this case that was Scalise. The burn-it-all-down contigent ignored tradition and history.

Pelosi isn't up for the role of speaker.