Before It’s NewsA Mexican Standoff was created last month when the Tea Party pushed GOP leaders to use the threat of shutdown to block a possibly fatally flawed expansion of federally funded health coverage – you can’t even register for it on the govt website.
We still don’t know what was happening behind the smoke screen, though. All we know is that campaign succeeded mainly in undermining popular support for half of the War Party, the Republicans. By late Wednesday, dozens of anxious GOP lawmakers were ready to give President Obama almost exactly what he requested months ago: a bill to fund the government and increase the Treasury Department’s borrowing power with no strings attached.
How did they get to that place?
War?
“We’ve been locked in a fight over here, trying to bring government down to size, trying to do our best to stop Obamacare,” House Speaker John A. Boehner (R-Ohio) told a Cincinnati radio station. “We fought the good fight. We just didn’t win.”
Nobody did.
What makes no sense is the fact that in May this year, the U.S. reached its technical or ‘real’ debt limit, calculated in its Debt-to-GDP Ratio, now MORE THAN 100%.
The debt-to-GDP ratio is the ratio between a nation’s (or an ordinary household’s) debt and its gross domestic product (GDP) or total income.
A low debt-to-GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt – while any debt at all reduces the chances for profit or prosperity.
It’s known as “The Ancient Curse of Usury”, a practice that takes taxable income from government by bankrupting its citizens. Unfortunately today, unlike Nero’s Rome and Richard’s Medieval England, that famous revolving door between Wall Stree and Pennsylvania Avenue makes bankers the government – s0 there’s no one out there who cares about you and I except OWS.
Governments aim for low debt-to-GDP ratios, but geopolitical and economic considerations influence the borrowing practices of a nation and the choice to incur further debt – including interest rates (determined in the U.S. by a privately-owned, incredibly rich, for-profit company misleadingly called the Federal Reserve Bank), war (which returns massive yields to war profiteers at the expense of taxpayers responsible for the war debts), recessions (which are orchestrated through the manipulation of both interest rates and the total money supply in circulation, and “other variables” – Tom Dennen
The choice now is, DO WE GO “OVER UNITY”?
We can’t.
In physics, the Law of Unity means that you cannot draw out more energy than you put into a system – so the goal in the search for the Holy Grail of phsyics, Perpetual Motion, is not achievable in this universe.
Increasing debt-interest payment beyond the income of any economic entity, be it a household or a nation, is an attempt to achieve that ‘over unity’ impossibility.
Senate passage came several hours after Majority Leader Harry Reid and Minority Leader Mitch McConnell announced the bipartisan compromise – what compromise could there possibly be in bankruptcy?
War.
The bill would reopen the government through Jan. 15 and permit the Treasury to “borrow normally” from the FED through Feb. 7 or perhaps a month longer” at which point the FED’s counterfiet ‘fiat’money must become worthless as borrowng more non-asset-backed, interest-bearing paper to pay back interest on previous loans is a self-defeating exercise in, as everyone will say, “kicking the can down the road again…”
Hey honey, I’m home! WE’RE BROKE AND MIGHT LOSE THE HOUSE.
Wait until ‘Obamacare’ gets in full swing and people see how much money is going to be stolen from them to pay for illegal immigrants health care and to help fund the ‘Wars for Wall Street and Israel’ thru Obamacare.
That’s the time to shut down the government.