“Technically it is not possible for the Bankster’s Fedsury (Me) to exactly time the monetary support needed to manage any delays (hourly, weekly, monthly) in not increasing budget deficit funding authorization levels and increasing of our Federal debt ceiling limits…” Mubernake
Notice how the Bankster’s plan is to wait to the very last-minute (Feb 14) to present this current fiscal year’s budget (presently now in its historic all-time record 6th month of budgetary delays), and in doing so, ensuring that no further budget suggestions (ie: lowering spending/raising corporate and oligarch estate taxes) can be enacted upon in time. So sorry, No mas. No can do.
For without this Admin’s enabling of GOP used teabag policies of purposeful budgetary delays, we might just have orchestrated a balanced “pay as you go” neutral-budgeted financial plan resembling some sense of responsibility to the middle class… but alas not.
Take a hard think about exactly what type, and amount, of global funds would enter into the US monetary system if the debt ceiling was adhered to, not raised, and if, if the 2011 Budget was deficit neutral? Bond rates could drop from a quality improvement thus lowering borrowing rates for all. Almighty king dollar reserve currency of strength sounds kinda nice. Would especially be if the Yuan does rise 5% and pumps domestic inflation through Far East import prices escalating on Juan/USD currency conversions.
Back to the Mubernanke & Fedsury’s plan – and your dose of reality, so because of such short notice to mark up a proper long term plan, again to save your Old Age Security(1.7B?), veteran’s well deserved funding (1.5B?), defence & cyber attack prevention($800M?), etc. – we must increase our debt ceiling limits (for us Bankster’s to use as L.O.C.’s) by a whopping near $2 Trillion USD. The rest of you can fight over the billion’s of crumbs dropped from the middle class taxpayer looting.
Who said, “keep the change”?
Unfortunately, there was no time to cut $1.5B in corn farmer’s ethanol subsidies or the 2.9B in GE Green wind energy tax credits. Better yet, no time to apply offshore tax audits for those wealthy 5% controlling 25% of all non-taxed, non-domiciled foreign held Oligarchy wealth managed assets as was instructed all along by private global banking banksters.
Therefore, your (our) only option is to spend more today of the decreasing tax pool… and hope to somehow (not) pay for it – hopefully, someday later when we’re all gone and we’ll just perform a staggered, yet prioritized default.
Refresher: Extortion, outwresting, and/or exaction is a criminal offense which occurs when a person unlawfully obtains either money, property or services from a person(s), entity, or institution, through coercion. Refraining from doing harm is sometimes euphemistically called protection. Extortion is commonly practiced by organized crime groups. The actual obtainment of money or property is not required to commit the offense. Making a threat of violence which refers to a requirement of a payment of money or property to halt future violence is sufficient to commit the offense. Exaction refers not only to extortion or the unlawful demanding and obtaining of something through force, but additionally, in its formal definition, means the infliction of something such as pain and suffering or making somebody endure something unpleasant.
In the United States, extortion may also be committed as a federal crime across a computer system, phone, by mail or in using any instrument of “interstate commerce“. Extortion requires that the individual sent the message “willingly” and “knowingly” as elements of the crime. The message only has to be sent (but does not have to reach the intended recipient) to commit the crime of extortion.
Extortion is distinguished from robbery. In “strong arm” robbery, the offender takes goods from the victim with use of immediate force. In “robbery” goods are taken or an attempt is made to take the goods against the will of another—with or without force. A bank robbery or extortion of a bank can be committed by a letter handed by the criminal to the teller. (Comedian Artie Lange was accused and charged with extortion after he handed a bank teller a note claiming he had a weapon and would use it if the bank did not give him $10,000 in unmarked bills; Lange later explains it was simply a joke to flirt with the bank teller and was released shortly after incarceration). In extortion, the victim is threatened to hand over goods, or else damage to their reputation or other harm or violence against them may occur. Under federal law extortion can be committed with or without the use of force and with or without the use of a weapon. A key difference is that extortion always involves a written or verbal threat whereas robbery can occur without any verbal or written threat (refer to U.S.C. 875 and U.S.C. 876).
The term extortion is often used metaphorically to refer to usury or to price-gouging, though neither is legally considered extortion. It is also often used loosely to refer to everyday situations where one person feels indebted against their will, to another, in order to receive an essential service or avoid legal consequences. For example, certain lawsuits, fees for services such as banking, automobile insurance, gasoline prices, and even taxation, have all been labeled “legalized extortion” by people with various social or political beliefs.
Neither extortion nor blackmail require a threat of a criminal act, such as violence, merely a threat used to elicit actions, money, or property from the object of the extortion. Such threats include the filing of reports (true or not) of criminal behavior to the police, revelation of damaging facts (such as pictures of the object of the extortion in a compromising position), etc.
Many are laughing while listening to more Mubernanke testimony about how everything is unsustainable long term, but recovery is ongoing, looking good and is fragile but stable. Double speak is becoming a highlighted form of modern economic art – as is restoring confidence to our long term fiscal situation.
Sorry No Time to Talk Planning & No Speaka Englais,