Showing posts with label loan. Show all posts
Showing posts with label loan. Show all posts

GOP Plan: Destroy America and Cause Global Economic Collapse. Then Blame Biden for Trump's Spending, Tax Cut for the Rich Law... If the USA Defaults on Our Debt, Social Security Checks will Stop. Soldiers Pay Will Stop. The Stock Market Will Crash and Starvation of Billions of People Will Follow... FUN!

The US debt ceiling: What it is and what happens if Congress doesn't raise it...

Actions by Senate Republicans could lead to the US defaulting on its debts. The effect "would be catastrophic," according to Treasury Secretary Janet Yellen. https://www.cnet.com/personal-finance/us-debt-ceiling-what-it-is-and-what-happens-if-congress-doesnt-raise-it/

The US government has never defaulted on its debts -- but actions by Senate Republicans are threatening to shatter the nation's financial track record. At the center of the congressional fight is a somewhat obscure bureaucratic mechanism: the debt limit, which is the amount of money the government is legally allowed to borrow. Failing to raise (or suspend) it could lead to dire financial consequences that could impact every part of the US economy.

The Democratic-led House of Representatives narrowly passed a bill along party lines last week to fund the US government through the beginning of December and suspend the debt ceiling until the end of 2022. But Senate Republicans blocked the measure on Monday -- not a single Republican voted in favor -- setting the stage for a clash. The US government could run out of money as soon as Oct. 15, according to an analysis published by the Bipartisan Policy Center.

The stakes are high. If the ceiling isn't raised or suspended, it will almost certainly impact the US economy at a macro level, with experts forecasting interest rates spikes and stock price plunges. But the effects will surely be felt on an individual basis, too, as a government spending freeze would reduce or eliminate funding for vital programs, including food assistance for low-income Americans, Medicare and Social Security, and payouts to retired veterans. 



GOP plan to block House measure could trigger an unprecedented $28tn default... 

Opposition from Mitch McConnell means the spending package is dead and the US faces a shutdown and default... 


https://www.theguardian.com/us-news/2021/sep/22/gop-plan-to-block-house-measure-could-trigger-an-unprecedented-28tn-default


Moscow Mitch is a QuackAnon FREAK




Top Republicans in the Senate are poised to block a key spending package advanced by Democrats in a move that could precipitate the dual fiscal crises of a government shutdown and an unprecedented US default on its colossal debt obligations.

The House has approved a combined stopgap funding measure that would keep the federal government open until early December and suspend the debt limit until after the 2022 midterm elections, sending the legislation to the Senate.

But the Senate minority leader Mitch McConnell swiftly announced that Republicans would sink the measure with a filibuster and prevent it from receiving the 60 votes needed to pass – causing a government shutdown on 1 October and a default weeks later.

Opinion | How the Debt Ceiling Turned into a Doomsday Cult

The end never actually comes but we love to obsess about it anyway.

https://www.politico.com/news/magazine/2021/09/22/how-the-debt-ceiling-turned-into-a-doomsday-cult-513644

The United States is careening toward an urgent financial crisis starting in less than two weeks, as a political standoff on Capitol Hill threatens to shutter the government during a pandemic, delay hurricane aid to millions of Americans and thrust Washington to the precipice of defaulting on its debt. As the White House has warned Republicans, a federal default — something that has never happened — could push the economy into recession or worse. The GOP’s financial “blob”—former Republican Treasury secretaries—have been warning McConnell and other party leaders that the economy might topple off a cliff if the ceiling goes unrepaired.

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Original Art Printed on Merchandise:

Rainbow Gifts on Zazzle gregvan



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Mueller Investigation set to Make a Profit for Federal Government. Paul Manafort's Condos to be Auctioned off. Bank Accounts Seized.

Feds take possession of Paul Manafort's Trump Tower condo.
The longtime GOP operative agreed to forfeit the property after he pleaded guilty to charges brought by special counsel Robert Mueller. The U.S. Marshals will now execute a sale of the apartment, provided they get a price that is higher than the amount outstanding on the loan from UBS bank, according to the order from Judge Amy Berman Jackson.
https://www.nbcnews.com/politics/justice-department/feds-take-possession-paul-manafort-s-trump-tower-condo-n1012156

Paul Manafort's Trump Tower condominium was formally forfeited to the U.S. government, according to Thursday court filings. 

The government also seized money in Manfort's Capitol One and Federal Savings Bank accounts, and his Northwestern Mutual Life Insurance policy, court filings show. 

President Trump's former campaign chairman pleaded guilty in September to one count of conspiracy against the United States and one count of conspiracy to obstruct justice by witness tampering as part of special counsel Robert Mueller's Russia investigation. 

The federal government moved on taking possession of Manafort's Manhattan condo last week. 

The 1,509-square-foot condo at Trump's Fifth Avenue property is estimated at $2.5 million, according to the online real estate website Zillow. 

Manafort is incarcerated in a minimum security prison in Pennsylvania after being sentenced to 7 1/2 years earlier this year. 
https://thehill.com/homenews/administration/446227-manaforts-trump-tower-condo-formally-forfeited-to-government

Sadly, Joe Biden has been WRONG on Almost Every Issue throughout his Entire Life... He Wrote the 1994 "Crime Bill" that ended up with Mass incarceration of Black Men for Crack Cocaine and Marijuana... Voted IN FAVOR of the Disastrous War in Iraq... Said Roe v Wade went Too Far... Voted to Repeal Glass Steagall Law - Causing the Financial Meltdown of 2008... Opposed Bankruptcy Protection for Student Loan Debtors... Anita Hill... and STILL Opposes Legalization of Marijuana...

https://harpers.org/archive/2019/03/joe-biden-record/

Headline: No Joe! Joe Biden’s disastrous legislative legacy

Tax Cuts for ALL! It can be paid for by debt and letting our great grandchildren worry about the bill later.

That's Trumps Plan. Coming soon to Congress: Raising the national debt ceiling and what they jokingly call "Tax Reform". What that means is a vast tax cut for the 1% and a small tax cut for the 99%. It's a Win-Win plan! Just like getting a brand new credit card, we can spend NOW NOW NOW and worry about paying back the loan later... Is it possible for the entire country to declare bankruptcy? That's a great way to avoid paying your bills... Trump's done it four (4) times!

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