Prediction: GOP Will Force US into Default[W:183]

[head of joaquin]

You have been asked direct questions but here is one I am waiting for an answer to, what budget expense has been accrued for fiscal year 2014 that cannot be paid by the over 200 billion a month income going to the Federal Govt?

All the budget expenses have accrued. They are current liabilities under current law. You don't understand how a balance sheet works, do you?

 

[head of joaquin]

Sequester is spending cuts not the budget that you claim.

Do word games make you feel good.

The sequester cut the prior budget across the board. That makes it . . . a budget.

Accrued debt and line item spending requests are two different items. I would have thought you understood the difference. If you don't have the money why do you make the expense?

No difference on a balance sheet. To not paid accrued debt is to default.

Yes, you do have to explain why we need a 3.8 trillion dollar Federal Govt. for 312 million people and what part of that spending is mandatory which is subject to default?

Because we're a large nation with a complex economy with lots of people in it?

I really would like to figure out how the liberal mind works

Rationally, unlike the conservative meme cognition.

 

[Conservative]

All the budget expenses have accrued. They are current liabilities under current law. You don't understand how a balance sheet works, do you?

Do you know what an accrual is? When were the 2014 expenses passed? They are liabilities only if they are spent. Accruing means nothing other than being a place holder because there are no such thing as mandatory discretionary spending items. I posted the actual liabilities to prevent a default. you ignored them because you are incapable of understanding the difference between a mandatory expense and a discretionary expense. You are indeed an Obama dream supporter, someone they can use for their own personal gain and you not even know it.

 

[Conservative]

Do word games make you feel good.

The sequester cut the prior budget across the board. That makes it . . . a budget.



No difference on a balance sheet. To not paid accrued debt is to default.



Because we're a large nation with a complex economy with lots of people in it?


Rationally, unlike the conservative meme cognition.

There was no budget to cut, there are line items in the CR's which were cut and that is the sequester, cutting expenses.

We are indeed a large nation built on the private sector that you don't understand and have bought into the big govt. philosophy. You are working hard towards that utopia of a large central govt. collecting all the money and having a bureaucrat divvy it out as the see fit. That is right up your alley since apparently you cannot compete in the private sector. Why do we need 50 states anyway and an elected govt. just put a liberal bureaucrat in charge of all the money and make them king

 

[head of joaquin]

Do you know what an accrual is? When were the 2014 expenses passed? They are liabilities only if they are spent. Accruing means nothing other than being a place holder because there are no such thing as mandatory discretionary spending items. I posted the actual liabilities to prevent a default. you ignored them because you are incapable of understanding the difference between a mandatory expense and a discretionary expense. You are indeed an Obama dream supporter, someone they can use for their own personal gain and you not even know it.

Never seen a balance sheet, have you?

The liabilities of the government have already accrued and appear on the balance sheet (the exact type of entry depends on the nature of the debt). But the debt is already in existence.

NEXT ACCOUNTING LESSON FOR THE TEA PARTIERS!

 

[head of joaquin]

There was no budget to cut, there are line items in the CR's which were cut and that is the sequester, cutting expenses.

We are indeed a large nation built on the private sector that you don't understand and have bought into the big govt. philosophy. You are working hard towards that utopia of a large central govt. collecting all the money and having a bureaucrat divvy it out as the see fit. That is right up your alley since apparently you cannot compete in the private sector. Why do we need 50 states anyway and an elected govt. just put a liberal bureaucrat in charge of all the money and make them king

Now we've moved from bad accounting concepts to a rightwing rant against Big Gummit. Like clockwork.

 

[Conservative]

Never seen a balance sheet, have you?

The liabilities of the government have already accrued and appear on the balance sheet (the exact type of entry depends on the nature of the debt). But the debt is already in existence.

NEXT ACCOUNTING LESSON FOR THE TEA PARTIERS!

Show me an accrual on a balance sheet? Yes, I have seen a balance sheet which apparently you have never seen

What liabilities have accrued to the Federal Govt. that have not been paid?

Better sign up for that accounting class because your comments are embarrassing.

 

[Conservative]

Now we've moved from bad accounting concepts to a rightwing rant against Big Gummit. Like clockwork.

Like a typical liberal you cannot refute the facts so you resort to diversion and distortion. What line items in the 2014 spending program have been accrued? You don't even now what an accrual is. If there is no budget and no money you don't spend thus there is nothing to accrue. Entitlements have to be paid and I showed you that those can be handled by the money coming in monthly to the Govt. You however are so buried up Obama's ass that facts and reality are foreign concepts to you.

What are accrued expenses? definition and meaning

 

[Conservative]

I can't help it if you repeat goofy rightwing memes that the US government is like a guy with a mortgage. It's inherently funny.

What is inherently dishonest are liberals like you who ignore the past as if the past didn't really happen. what exactly was different in 2006 vs. today?

On July 3, 2008, presidential candidate Barack Obama said this:

The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents — #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.

So let's see, Obama has taken a 10.6 trillion debt and turned it into 17 trillion dollars but that isn't unpatriotic and liberal line up behind him cheering his every move?

 

[head of joaquin]

As of today, two days before the Teabagger Default, my prediction is still on track. I wish I had been wrong, but there seems to be no bottom to the bile and nihilism of the tea party.