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This room is for the discussion of current events,cultural issues and politics especially in relation to Catholic values.

Saint Thomas More was martyred during the Protestant Reformation for standing firm in the Faith and not recognizing the King of England as the Supreme Head of the Church.
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03/02/2013 new

Sequestration is just another fancy word for austerity. The lower classes have money the financial oligarchs want and it's time for the latter to "cull the herd."


Read this article from the WSWS: www.wsws.org


Contrary to the WSWS, which is obviously too left-wing, I think the whole point of getting "government" involved in everything in the first place (beginning in the 1930s and especially in the 1960s) was to weaken communities and more traditional support mechanisms. The idea was to get local communities addicted to governments funds instead of building a stronger and stronger economic base...and then cut that support at a later date and watch the whole system implode. That's globalization in a nutshell. Local indepedence vs. globalist financial oligarchs.



(Quote) Marianne-100218 said: The government is currently operating under the Continuing Appropriations Resolution,...
(Quote) Marianne-100218 said:

The government is currently operating under the Continuing Appropriations Resolution, which provides funding through March 27, 2013
for all Government agencies. It was signed by President Obama on September 28, 2012. It is in lieu of a formal Budget written by
Congress for the new fiscal year which began October 1, 2012. A Continuing Resolution provides funding for existing federal
programs at current, reduced, or expanded levels.

This Resolution means that Sequestration really does not change Government spending from October 1, 2012 until March 27, 2013.
The harsh terms of the Sequestration will take effect after that time.

The Sequestration is part of the Budget Control Act of 2011, which was signed into law by President Barack Obama
on August 2, 2011, during his first term as President. The main purpose of the Budget Control Act of 2011 was to deal with the
US debt-ceiling crisis, which, if not extended, would have let the US default on its debt on August 3, 2011. (Default means
not paying the money that became due on August 3, 2011 to those who lent money to the US Government.) We all went
through this calamity with the Fiscal Cliff.

The part of the Budget Control Act of 2011 that is effecting us now involves the Act's introduction of several complex mechanisms.
One of them is the automatic budget sequestration. This automatic budget sequestration proposed a compulsory trigger that
would go into effect if another agreement was NOT made on tax increases and/or budget cuts.

The intent of the Budget Control Act was to secure commitment of both sides of Congress to future Budget negotiation. The
enforcement mechanism of the act, called the Sequester, would be unpalatable to Republicans and Democrats alike.
President Obama agreed to the plan.

As we have seen, there has been no commitment or agreement yet, as of today.

But the Continuing Appropriations Resolution signed by Obama ensures that until March 27, 2013, nothing has to
change as far as Government Budget and spending goes. Letting prisoners out of jail and sending pink slips to
teachers and furloughing non-military workers is a bit premature and theatrical.

After that time (3/27/13), there will be a mandatory $85 Billion Cut in Government Spending. It will slash most Government
Departments, but more than half of that Money, $46 Billion, will come out of the Pentagon's spending for this year.

In 2013, with the effects of the wars in Iraq and Afghanistan, and the nations young men and women either being in harm's way,
or giving their lives for freedom, or home trying to cope with the inflicted scars of war, this heavy blow to the military makes
an intended visible impact.

And it shows that Obama made the potential Sequester bite as hard as possible in order to avert the Sequester and have
Congress pass necessary bills to enact new spending rules. Remember when Obama told the Russian diplomat that he
would have more flexibility in his second term?

This is a quote from General Odierno, Army Chief of Staff, from his reports to the Congress House Appropriations Subcommittee
on Defense, February 26, 2013. It shows how hard the cuts to the military will hit the armed forces.

"....our Soldiers, our young men and women, are the ones who will pay the price, potentially with their lives."

Below is part of Interview of General Odierno (GO) as he is being questioned by Charlie Rose (CR), and Nora O'Donnel (NO), on the
CBS Morning Show, 3/1/13. It shows how the military is absorbing the hardest blow of the cuts. He tells them how targeted
the cuts to his budget are, as a result of the Continuing Resolution and the Sequestration. He also shows the threats to our National
Security by our present Government, by never enacting and putting into place a Fiscal Budget.

NO: You have called this fiscal uncertainty the greatest threat to our Nation Security? Really? Greater than Al Qaeda, greater
than cyber warfare?

GO: The bottom line is if we continue to not be able to have a plan, we are supposed to build a five-year plan for our budget.
I cannot do that right now because we keep going through Continuing Resolutions. We have no certainty in what our money is going
to be. So we are wasteful, we are inefficient, and we can become more ineffective with our dollars. And I think people
watch this, and wonder what are we doing?

NO: We have heard from Congress though, Congressman Duncan Hunter, of accusing the Defense Department of adding
drama to this whole debate. What is your response to that?

GO: Well, what I would say is right now, I got a briefing last week on our cuts. Right now I have to come up with the money.
I can't find it yet. And I have not found it all yet. And right now we are furloughing 251,000 civilians; we are laying off about
8,000 people; I can't train 80 percent of my units; and I still have not found enough money yet that will pay the bills in 2013.


NO: "Some people are going to say that you cannot find the money in the entire Defence Budget? It is a huge budget."

GO: "I can't do it. See again, I am telling you that the money is fenced. And the Continuing Resolution does not allow us
to move money around. And Sequester, by the way, is Directed Cuts. We have no say in where those cuts come in
Fiscal Year '13. They are directed. They are every line item within your budget.

--------------------------

The Defense Department is hardest hit. Yet Homeland Security, Teachers and other agencies have made the most noise.
This is theatrics by Journalists, Democrats, and mostly, by President Barack Obama. He wants to blame Republicans.

Why haven't we had a budget for years? Why does spending increase, despite the lack of funds to support this spending.

This is Obama's ploy to have laws put into place to legitimize his unfunded spending.

His claim to change America is happening. Unfortunately, it will change the America that we have all come to
know and love.

--hide--

03/02/2013 new

(Quote) Sean-851370 said: Well, I guess sequestration will be useful as a diversion if the Fed stops quantitativ...
(Quote) Sean-851370 said:




Well, I guess sequestration will be useful as a diversion if the Fed stops quantitative easing and interest rates go up. Gonna be harder for .gov to get more money then!

--hide--


You have a good point there. Maybe the Chinese will still buy our bonds though.

If interest rates go up, I think people will have more money who have savings. So that will help a bit.

03/02/2013 new

(Quote) Sean-851370 said: Sequestration is just another fancy word for austerity. The lower classes have money the financial...
(Quote) Sean-851370 said:

Sequestration is just another fancy word for austerity. The lower classes have money the financial oligarchs want and it's time for the latter to "cull the herd."


Read this article from the WSWS: www.wsws.org


Contrary to the WSWS, which is obviously too left-wing, I think the whole point of getting "government" involved in everything in the first place (beginning in the 1930s and especially in the 1960s) was to weaken communities and more traditional support mechanisms. The idea was to get local communities addicted to governments funds instead of building a stronger and stronger economic base...and then cut that support at a later date and watch the whole system implode. That's globalization in a nutshell. Local indepedence vs. globalist financial oligarchs.



--hide--


That World Socialist article is just too depressing to read. It is scary.

03/03/2013 new

(Quote) Marianne-100218 said: You have a good point there. Maybe the Chinese will still buy our bonds though.
(Quote) Marianne-100218 said:



You have a good point there. Maybe the Chinese will still buy our bonds though.

If interest rates go up, I think people will have more money who have savings. So that will help a bit.

--hide--




I think we could be getting set up for a paradigm shift away from the USD as the world reserve currency. If interest rates go up, US treasurys are not going to look as attractive. Not only that but the US produces little and uses the status of the USD as the world reserve currency to continue its consumerist tendencies while being financed by other countries. Some people think that SDRs will become the global reserve currency after the dollar collapses. The US economy becomes more and more fantasy-like all the time. What was once the world's best economy has been run into the gutter by a gang of criminal elites.

03/03/2013 new

(Quote) Marianne-100218 said: That World Socialist article is just too depressing to read. It is scary.
(Quote) Marianne-100218 said:



That World Socialist article is just too depressing to read. It is scary.

--hide--



The WSWS is mostly right in that article. The US economy is a mess. The Fed's blowing a huge bubble. The supernova that explodes could make 2007 look like a day at the beach. Hold on for the ride!

03/03/2013 new

(Quote) Sean-851370 said: I think we could be getting set up for a paradigm shift away from the USD as the w...
(Quote) Sean-851370 said:





I think we could be getting set up for a paradigm shift away from the USD as the world reserve currency. If interest rates go up, US treasurys are not going to look as attractive. Not only that but the US produces little and uses the status of the USD as the world reserve currency to continue its consumerist tendencies while being financed by other countries. Some people think that SDRs will become the global reserve currency after the dollar collapses. The US economy becomes more and more fantasy-like all the time. What was once the world's best economy has been run into the gutter by a gang of criminal elites.

--hide--


Sean: I think SDR's would be a more equitable reserve. How do you feel about that?

I think you are not factoring in that US Companies have searched around the world to find the lowest
labor costs for their products. That is a rule of business, to minimize costs and maximize profits.
Since global transportation has also improved, only tariffs on foreign imports would have stopped
this outsourcing. That may be the role of the criminal elites you are referring to--no tariffis on
imports to USA. That has angered many US companies and many labor unions.

03/03/2013 new

(Quote) Sean-851370 said: The WSWS is mostly right in that article. The US economy is a mess. The Fed's blow...
(Quote) Sean-851370 said:




The WSWS is mostly right in that article. The US economy is a mess. The Fed's blowing a huge bubble. The supernova that explodes could make 2007 look like a day at the beach. Hold on for the ride!

--hide--


What form will the next Supernova take? The collapse of the dollar?

03/03/2013 new

Has anyone realized that this is becoming the new Normal for our Government. Catastrophe after
Catastrophe. And we are stuck in the middle.

03/03/2013 new

(Quote) Marianne-100218 said: Sean: I think SDR's would be a more equitable reserve. How do you feel about that?...
(Quote) Marianne-100218 said:



Sean: I think SDR's would be a more equitable reserve. How do you feel about that?

I think you are not factoring in that US Companies have searched around the world to find the lowest
labor costs for their products. That is a rule of business, to minimize costs and maximize profits.
Since global transportation has also improved, only tariffs on foreign imports would have stopped
this outsourcing. That may be the role of the criminal elites you are referring to--no tariffis on
imports to USA. That has angered many US companies and many labor unions.

--hide--



I'd be more supportive of a regional-based reserve or something to that effect, with trade settlements in gold at the end of the year. At any rate, something that leads to more fixed exchange rates but doesn't destroy sovereignty as the euro has done. Giving power to any supranational entity is very dangerous.

Offshoring would exist on its own, but with the indirect incentives the government has given companies to move production abroad, there's even more of it than there would be otherwise. Skyrocketing healthcare costs and employment taxes don't do much to encourage producers to stay in the US. There's nothing wrong with open trade among countries with similar economies (e.g., US and Canada), but open trade between a wealthy country and a poorer country always results in much production leaving the wealthy country for the poor country. I think one of the main points of transfering US manufacturing capacity to China was to rope China into the globalist empire as much as possible. What the internationalist types at the IMF, World Bank, WTO, etc. never can handle is an independent economy. There's absolutely nothing wrong with trade, but globalists use trade as a weapon of warfare to wreck national economies in order to subject those economies to the "global marketplace." In reality globalization is nothing more than a new word for old British imperial economics.

Also, "offshoring" has existed within the US itself (e.g., when textile mills moved from the NE to the South). But there are only so many places to relocate within one country.

03/03/2013 new

(Quote) Marianne-100218 said: Has anyone realized that this is becoming the new Normal for our Government. Catastrophe after...
(Quote) Marianne-100218 said:

Has anyone realized that this is becoming the new Normal for our Government. Catastrophe after
Catastrophe. And we are stuck in the middle.

--hide--



They create the catastrophe and then come in as the savior.

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