Difficulty skyrocketing!

[Stephen Gornick]

Well, the difficulty in keeping the U.S. debt from increasing exponentially, that is -- which then necessitates a vote to raise the debt ceiling (in red).


 - http://www.washingtonpost.com/national/bumping-the-ceiling/2011/05/15/AFKT7Q4G_graphic.html

Doesn't look too terribly much different than Bitcoin's difficulty adjustments (red):

[1714061558]

1714061558

[1714061558]

1714061558

[1714061558]

1714061558

[1714061558]

1714061558

[1714061558]

1714061558

[grue]

profitability will keep difficulty in check.

[grondilu]

Oh my god, how stupid is that!??

What's the point of having a debt ceiling if congress keeps increasing it each time it is reached?

It's a joke, right?

[Littleshop]

Oh my god, how stupid is that!??

What's the point of having a debt ceiling if congress keeps increasing it each time it is reached?

It's a joke, right?

No, unfortunately this is true.  They will raise the ceiling again soon. 

[rezin777]

Oh my god, how stupid is that!??

I guess it's brilliant if you are the one spending the money and have no morals?

[FreeMoney]

Oh my god, how stupid is that!??

I guess it's brilliant if you are the one spending the money and have no morals?

It's still silly. If you set your own credit card limit you don't really have a limit do you?

[Malamute]

NPR just ran a story on All Things Considered today with a little history about the US debt ceiling and what they used to do before Congress implemented this policy: http://www.npr.org/blogs/money/2011/05/16/136363196/the-history-of-the-debt-ceiling

[evoorhees]

Congress has been asked many dozens of times to raise the debt ceiling. It has never refused - not once.

The idea that there is a ceiling at all is a greater fantasy than the fiat currency they're using to breach it.

[cschmitz]

i think we will see a diff close to 300k on the next update.

[em3rgentOrdr]

So let me guess.  The politicians and media people are going to yabber about the ceiling and blame the other party for the debt.  Then they will procrastinate in actually raising the debt ceiling until the very last minute.  Then they will threaten a government shutdown and try to frame the other party as being responsible for why any of your friends who work for the US are stuck without a job.  Then they will miraculously stitch together a hideous bill that no one actually likes, but they manage to pass it by strategically adding pork, strangely-worded clauses, and appending entirely unrelated bills to it.  They they will tell us that they didn't want to do it, but that they were forced to and had no choice.

[hazek]

Limit? What limit? They raised it every fking time they were close to or at limit? What good is a limit of which it's purpose get's completely ignored by an increase every single time you reach it. It's no limit at all. Printing away, stealing our wealth with an invisible hand while trying to maintain an illusion of fiscal responsibility. That's what it really is.

[FooDSt4mP]

The saddest part is it looked like it could turn around until 2011 came around and the US went to war with an emotion.  And we funded nearly all of the war on "fear and the people who make us feel that way" with debt.  The people who wanted to see the US fall could not have hoped for a better reaction.  We sacrificed out liberties, our economy, and our dignity in an effort to regain the illusion that we are safe.  As long as there is envy, a single man with a few materials from Walmart can disprove that illusion.  And the best way to combat envy is to help your neighbor when you can.  America's national unity has been fractured in a very severe way as the gap between debt holders and debtors grows.  Hopefully, bitcoin will help balance things out as debt holders will be slower to adopt a deflationary currency.  If not, anyone who doesn't have an escape plan is in for a world of hurt.

[evoorhees]

So let me guess.  The politicians and media people are going to yabber about the ceiling and blame the other party for the debt.  Then they will procrastinate in actually raising the debt ceiling until the very last minute.  Then they will threaten a government shutdown and try to frame the other party as being responsible for why any of your friends who work for the US are stuck without a job.  Then they will miraculously stitch together a hideous bill that no one actually likes, but they manage to pass it by strategically adding pork, strangely-worded clauses, and appending entirely unrelated bills to it.  They they will tell us that they didn't want to do it, but that they were forced to and had no choice.

You make it sound so simple! Why is it that so few people understand that that is exactly what's going on? Oh right, because they were educated in a school system run by the same people.

[Justsomeforumuser]

It's "your" fault.


If they cut spending on the military, the right whines America is now defenseless.

Kill medicare and you kill real people.

Raise taxes and the economy might stutter. Get out of foreign countries and maybe regret it later.

Etc.

My point being: for every cent spent, there's a huge lobby or audience that is going to cry "We will vote for whoever continues spending this!". Nobody accepts cuts. That doesn't change, debt doesn't change.

Simple. But want your cake and eat it, too? Does not work.


Here, you guys try making the decisions:

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html

[evoorhees]

My point being: for every cent spent, there's a huge lobby or audience that is going to cry "We will vote for whoever continues spending this!". Nobody accepts cuts. That doesn't change, debt doesn't change.

Simple. But want your cake and eat it, too? Does not work.

I'm happy to accept all cuts of all US Federal Government "services" in return for my taxes back.  I don't want their cake.

[error]

My point being: for every cent spent, there's a huge lobby or audience that is going to cry "We will vote for whoever continues spending this!". Nobody accepts cuts. That doesn't change, debt doesn't change.

Simple. But want your cake and eat it, too? Does not work.

I'm happy to accept all cuts of all US Federal Government "services" in return for my taxes back.  I don't want their cake.

The cake is a lie.
The cake is a lie.
The cake is a lie.
The cake is a lie.

[benjamindees]

Here, you guys try making the decisions:

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html

Use an alternate measure for inflation

Some economists believe that the Consumer Price Index overstates inflation, giving Social Security recipients larger cost-of-living increases than necessary. This option would use a different, lower inflation measure both for Social Security and in the tax code (thus pushing more households into higher brackets over time). Supporters say the lower measure is more accurate. Opponents say it is less accurate for the elderly, who buy a different mix of goods and services than other households.

lol wut?

Anyways, it took about five minutes to get a $65 billion surplus by 2015 and a $450 billion surplus by 2030.  And I could've done a much better job with a bit more granularity.

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=3xp7800c

[Longmarch]

how stupid ... What's the point ... congress ... It's a joke, right?

Terrible side effect of democracy: legislators.

[rezin777]

It's "your" fault.

I agree. Anyone who continues to pay taxes while complaining about how their tax money is spent is a hypocrite.

Required disclaimer: I'm not suggesting you don't pay taxes. I'm suggesting you learn to live your life legally while paying as few taxes as possible. Yeah, it's not easy, but shit, do you have a spine or not?

[em3rgentOrdr]

It's "your" fault.

I agree. Anyone who continues to pay taxes while complaining about how their tax money is spent is a hypocrite.

Required disclaimer: I'm not suggesting you don't pay taxes. I'm suggesting you learn to live your life legally while paying as few taxes as possible. Yeah, it's not easy, but shit, do you have a spine or not?

good point.