Hat tip to Matt Franko, a MNE contributor, on this one. Matt does some great analytical work.
Anyway, he brought to my attention the fact that the Federal Gov't hit the debt ceiling on Monday, 12/31. Boehner abruptly cancelled the vote on the Hurricane Sandy aid bill on Tuesday, even though he had promised to hold it. An aide to Boehner said it was because of "everything that was going on," related to the fiscal cliff.
But was the real reason for the cancellation the fact that Boehner spoke to Tim Geithner and was informed that there are no funds for Sandy? Once the gov't is at the debt limit, then any new spending can only come from some other expenditure being cut.
I am sure Chris Christie does not know this, nor does Gov Cuomo, Peter King and definitely not that dunce, Michael Grimm.
Moreover, even if the vote is held, I am not sure these states will be receiving funds anytime soon. How does that happen under the debt ceiling?
While I hate to see the innocent victims of Sandy suffer, their representatives are avowed deficit hawks (with the exception of Cuomo) and have been railing for less spending and telling us the government was broke and out of money for a long, long, time. They've also been against raising the debt ceiling. So guess what guys? Your wish has come true...the gov't is out of money and it's YOUR constitutents who are going to feel it.
I think the House bill is for $60B Mike...
ReplyDeleteI dont think Geithners "extraordinary measures" that he has come up to endure the fiscal seige for the next 60 days would include an additional $60B for Sandy.... perhaps a billion or two but here "at ceiling" it is at the expense of another would be recipient of federal spending... NJ medicare doctors dont get paid.... federal highway funds withheld... defense contractors dont get paid.. NJ medicaid reimbursements dont happen... etc....
so the state ends up behind in federal reimbursements anyway, but the "Sandy" pot has some small funds in it for a while, everybody else may have to wait... net the state is no better off unless new $NFA is created...
Sad for the victims.. rsp,
Sad for the victims, but they elected these guys and most New Yorkers, New Jerseyans, Americans, believe we gotta cut the debt, so that's what they're getting.
ReplyDeleteSad Mike,
ReplyDeleteRam reported Geithner is now indicating he's "gettin' out while the gettin' is good"... NOT GOOD!
Geithner at least has the "lessons learned" from 2011 and looks like he knows the "ceiling" is harmful... they could end up nominating a debt scold and then what?
rsp,
Mike,
ReplyDeleteI slightly changed the wording in some of the sentences in your post from this morning.
Your disrespect for Congressman Grimm calling him a "dunce" is a disgrace.
Furthermore, you show some incredible disrespect for Congressman and, basically, our government and society.
I don't know how many of you saw this, but this letter, posted by some marine corporal, is going viral on the Internet right now and in it, he shows some incredible disrespect for Senator Dianne Feinstein and, basically, our government and society.
Is this a joke? I mean you just posted the other post this morning.
Once the gov't is at the debt limit, then any new spending can only come from some other expenditure being cut.
They've also been against raising the debt ceiling. So guess what guys? Your wish has come true...the gov't is out of money and it's YOUR constitutents who are going to feel it.
MAYBE YOU SHOULD REREAD YOUR OWN POST!
What you "feel" or "believe" is your right matters little as each of us in any civilized society, from time to time, are expected to give up some of our personal desires for the greater good of that society.
You claim to be the flesh and blood of America, but there are 300 million other citizens who lay claim to that title as well and their voices deserve to be heard just as yours and they have, overwhelmingly, spoken up in favor of Senator Feinstein's proposed assault weapons ban.
So if the majority believes that not raising the debt ceiling is "for the greater good of that society", should it not be raised?
Bear,
ReplyDeleteI believe Mike made the same point in his comment above... no one denies the citizens get the govt they vote for, morons or not... sad but true...
And your analogy is false, it would be like Feinstein was a gun control advocate and at the same time Feinstein would craft a bill providing a new AR-15 for every US citizen....
rsp,
assault weapons yes I agree ban them or reduce their abillity to be automatic, 76 people were killed by vending machines last year, lets pass another useless law that will not be imposed or canot be enforced, because vendging machines killed more people than guns did. Please I dont need you to protect me from fighting back against the centralists.
ReplyDeleteGovernment running out of money, I purchased a money order from the post office for 900.00 and mailed it . It came back so I went to the post office ( a large post office) and wanted a refund, the clerk said we opn with only 100.00 in the tills and rely on people giving us money for stamps etc. during the day, come back at 400pm instead of here at 900 am and we should have money. I went to a second post office Sugarland Texas large post office at 10:00 local time and was told the samething, I told them you took my money but do not give it back, that is a run on the bank, gubbmament is out of money for sure!!
ReplyDeleteI doubt that's really the reason it didn't pass. Appropriating the money is not the same as spending it. That $60B would take months to go out the door.
ReplyDeletefunny how they never had trouble finding the funds for iraq and afghanistan
ReplyDelete