8 thoughts on “Debt Limit? What Debt Limit?”

    • Not sure how much percolates outside each country’s borders – yours or mine or others – we have a variety of deadlines re monetary expenditures by our federal govt, which is different than each of the 50 states’ govts. We are in crazy-making territory – the video helps to explain one of the issues/deadlines we are facing and how our elected representatives are handling the issue… There are so many of ’em it is difficult not to feel overwhelmed trying to keep track – and that’s just for my own country. However, we are supposed to have quite an effect on global markets, so it might affect your country at some point.

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      • Now that I watched the video, it makes it look quite bad!
        Not much better here. Personal taxes down, but taxes on everything else up. Somebody has to pay for Zimbabwe’s failing economy, Keep the King of Swaziland in furs and the current government officials in luxury items.
        Hear d a joke once, with more than a bit of truth added to it.
        One guy asks another “Which natural resource do you think will go extinct first?” Other guy answers “The taxpayer”
        Makes me want to move to a high mountain and keep my money in a box under my bed!!

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  2. Oohh, the joke with the bite of truth – best kind. I saw a brief film news item re private security in South Africa – knowing you, it caught my attention. Kind of scary to my eyes….

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  3. Hunt, Your making my head hurt. I thought I was done with economics back in college, clearly I need to take a refresher, thankfully your blog provides it from time to time. Having worked for the government for my entire career, the conversation in the video hit quite close to home. But in fairness, I remember working on my budget for my little branch,that was rolled up into the larger organizational budget, which was further rolled up into the agency budget. I had to make hard decisions, I had to be accurate in my income projections, and I had to make realistic decisions. My organization had to survive purely from the revenue we generated, It was difficult to absorb a 10 pct cut in our budget, But we managed. All of this to say I was one of thousands of managers that had to make these decisions on an annual basis. Whether those dumb asses representing up ever made a decision or not. It not fun or funny, but sadly I don’t see an end. I only see the train. Take care, Bill

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    • Bill, if I understood you correctly, the difference was your “organization had to survive purely from the revenue we generated, ” as opposed to surviving by funding from the state or federal governments. That is where I see the most damage – even if you play it straight and actually didn’t use all the money you had budgeted for – the premise is you must spend it to keep the funding coming in…. I saw this at my state level when I worked for the state, and I know it goes on at every level in both the private and public sectors. Both. I could go off on a riff here, but it’s the eve of Thanksgiving, so I’m going out to enjoy the warmth of the sun instead! 🙂

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      • Hunt, yes my branch generated 100’s of millions of dollars every year. We did this for years (before it was mandated that we support ourselves) and the profits my branch made were made part of the bigger picture. I remember one budget meeting where the bosses boss, said “Ham, just bring in more revenue.” I thought I mumbled “f…. does he think just and pick it off a tree.” By his response I didn’t mumble as good as I thought. In there is another story. LOL LOL. Take care, Bill

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