Yes, so does China ... (and Pakistan, India, North Korea, Russia etc etc)
Great ... so youve got nuclear launch codes and you also think there are 3.6 billion females in the Chinese army ... this is going to end well...
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The True Economic Horror of USA
- Thread starter DrFever
- Start date
The new Calculus practitioners calculate that you'll believe any number regardless of it's inaccuracy if you make it sound authoritative enough.
Why does anyone think China is going to own us? Because of the T-Bills they've bought that represent our national debt? Lets take a look at that shall we?
Just as I thought, China and all foreign sources combined only own about a third of the debt. No changes in landlords or ownerships anytime soon, sorry.
Just as I thought, China and all foreign sources combined only own about a third of the debt. No changes in landlords or ownerships anytime soon, sorry.
barnyard
Member
tell that to Toledo HempKat...
http://theeconomiccollapseblog.com/...irst-major-american-city-to-be-owned-by-china
http://theeconomiccollapseblog.com/...irst-major-american-city-to-be-owned-by-china
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barnyard
Member
wake up and smell the Tieguanyin...
wake up and smell the Tieguanyin...
This is an economics thread and insults don't contribute to the conversation, IMO.
wake up and smell the Tieguanyin...
This is an economics thread and insults don't contribute to the conversation, IMO.
Are you an economist then? Actually know what you are talking about?
The Chinese people are now being fed on the procession. Ever read The China Study?...in less than a few decades they will be fatter than 'mericans...and just as sick. Fear on
Are you Blind to the Fact that this is happening slowly to all cities in the States ????
Detroit, considered "one of the most important cities in the 20th century," has given up trying to address "the misdeeds" that brought it to its knees and has, instead, declared bankrupcy.
Those misdeeds indisputably include a history of abandonment, neglect, isolation and outright hostility born directly of the racial tensions that have historically divided Detroit from its predominantly white suburbs, and from the rest of the state of Michigan. Add to the list a failure of leadership on every level — from myopic, at times corrupt local politicians who punted on Detroit's long-term debt issues, to a bipartisan Washington policy establishment that has blundered along for years without anything resembling a cohesive urban policy or a strategy for shoring up US manufacturing.
And, of course, let's not forget the economic misdeeds of Detroit's Big Three car manufacturers (those pioneers of job outsourcing) and Wall Street (whose predatory lending and casino mentality resulted in the foreclosure epidemic that would devastate the tax base of cities across the US).The year after Chrysler and General Motors entered managed bankruptcies, Michigan elected a Republican governor, a helmet-haired certified public accountant (and venture capitalist), Rick Snyder, who bankrolled his own campaign to the tune of $6m, proudly billing himself as a technocrat capable of reviving the state's foundering economy. Snyder, after promptly cutting corporate taxes, saw the writing on the wall in Detroit. Nervous about the possibility of an unmanaged bankruptcy — which could have tanked the bond rating and borrowing ability of the entire state — Snyder appointed bankruptcy lawyer Kevyn Orr as Detroit's "emergency manager" in March. Democratically elected officials (the mayor, the city council) retained their job titles but no real power; Orr, meanwhile, would control the city's finances and negotiate with creditors. He was granted near dictatorial powers, including the ability to break union contracts with city workers and sell off municipal assets.
Here few more would you like me to post some more Is usa up in trouble yea think
Yesterday, in an unexpected vote, the city council of San Bernardino, California declared bankruptcy. Joining Stockton and Mammoth Lakes, it becomes the third California city in less than a month to seek bankruptcy protection.
USA is keeping cost of living down food Gas that is also causing if it jumped 2 - 3 points dude and trust me its coming you haven;t seen anything like horror what shall happen
if it was same price as rest of the world can guanrtee you there be allot more home less and more people starving to death
Yesterday, in an unexpected vote, the city council of San Bernardino, California declared bankruptcy. Joining Stockton and Mammoth Lakes, it becomes the third California city in less than a month to seek bankruptcy protection.
USA is keeping cost of living down food Gas that is also causing if it jumped 2 - 3 points dude and trust me its coming you haven;t seen anything like horror what shall happen
if it was same price as rest of the world can guanrtee you there be allot more home less and more people starving to death
Many local governments across the U.S. face steep budget deficits as they struggle to pay off debts accumulated over a number of years. As a last resort, some filed for bankruptcy.
Governing is tracking the issue, and will update this page as more municipalities seek bankruptcy protection.
Most recently, Detroit became the largest municipality in U.S. history to file for bankruptcy. The state had already appointed an emergency financial manager for the city, saddled with debts totaling an estimated $18 billion.
Overall, though, bankrupt municipalities remain extremely rare. A Governing analysis estimated only one of every 1,668 eligible general-purpose local governments (0.06 percent) filed for bankruptcy protection over the past five years. Excluding filings later dismissed, only one of every 2,710 eligible localities filed since 2008.
The majority of filings have not been submitted by bankrupt cities, but rather lesser-known utility authorities and other narrowly-defined special districts throughout the country. In Omaha, Neb., 10 sanitary districts have filed for bankruptcy, accounting for nearly a third of all Chapter 9 filings since 2010.
It's also important to note that only about half of states outline laws authorizing municipal bankruptcy. View our bankruptcy laws map for each state's policies.
List of Bankruptcy Filings Since January 2010
All Municipal Bankruptcy Filings: 36
General-Purpose Local Government Bankruptcy Filings (8):
-- City of Detroit
-- City of San Bernardino, Calif.
-- Town of Mammoth Lakes, Calf. (Dismissed)
-- City of Stockton, Calif.
-- Jefferson County, Ala.
-- City of Harrisburg, Pa. (Dismissed)
-- City of Central Falls, R.I.
-- Boise County, Idaho (Dismissed)
Governing is tracking the issue, and will update this page as more municipalities seek bankruptcy protection.
Most recently, Detroit became the largest municipality in U.S. history to file for bankruptcy. The state had already appointed an emergency financial manager for the city, saddled with debts totaling an estimated $18 billion.
Overall, though, bankrupt municipalities remain extremely rare. A Governing analysis estimated only one of every 1,668 eligible general-purpose local governments (0.06 percent) filed for bankruptcy protection over the past five years. Excluding filings later dismissed, only one of every 2,710 eligible localities filed since 2008.
The majority of filings have not been submitted by bankrupt cities, but rather lesser-known utility authorities and other narrowly-defined special districts throughout the country. In Omaha, Neb., 10 sanitary districts have filed for bankruptcy, accounting for nearly a third of all Chapter 9 filings since 2010.
It's also important to note that only about half of states outline laws authorizing municipal bankruptcy. View our bankruptcy laws map for each state's policies.
List of Bankruptcy Filings Since January 2010
All Municipal Bankruptcy Filings: 36
General-Purpose Local Government Bankruptcy Filings (8):
-- City of Detroit
-- City of San Bernardino, Calif.
-- Town of Mammoth Lakes, Calf. (Dismissed)
-- City of Stockton, Calif.
-- Jefferson County, Ala.
-- City of Harrisburg, Pa. (Dismissed)
-- City of Central Falls, R.I.
-- Boise County, Idaho (Dismissed)
dont forget china has there own real estate bubble that is many times larger then the U.S. one. China's economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history.
China's real estate bubble (60 minutes)
http://www.cbsnews.com/video/watch/?id=50152767n
The bottom line is, China and America's economy's are so intertwined that china has to cooperate with us. they can not collect their debt from us in any other way.
China's real estate bubble (60 minutes)
http://www.cbsnews.com/video/watch/?id=50152767n
The bottom line is, China and America's economy's are so intertwined that china has to cooperate with us. they can not collect their debt from us in any other way.
funny you say that cause that is what you were learned taught to think your unstopable lmao and thats your demise trust me Again you fought 3rd world countries again with NATO Backing and still got your asses handed you mention usa has NUKES of course they do 7900 of them russia Has 17,900 of them and again detonated the biggest one ever 100 times bigger then anything usa got
China already tells USA what to do yup its true just have a wonder in your apartment see how much you got there that was made in USA probably Nothing even the clothes your wearing prob comes from china you should thank china in reality cause if you had to purchase a pair of jeans made in usa it prob be 300 + bucks lmao
does China have weight
http://ca.search.yahoo.com/search?ei=UTF-8&fr=crmas&p=does+china+control+USA+
http://ca.search.yahoo.com/search?ei=UTF-8&fr=crmas&p=does+china+control+USA+
SirSteely
Member
HAHAHA You STONER!! I think its more like 320 Million strong womens army. I think I can kick my fair share of that ass. lol
Debate over how many jobs the United States loses to China has gone on for years. Today, China is one of the two largest manufacturing economies in the world. The other is the United States. Many labor groups and politicians are trying to tip factory activity back to the U.S. — a difficult task to accomplish when companies send work to China to bring labor costs down. So, in many cases, China cannot be blamed for the shift in workers.
24/7 Wall St.: America's disappearing jobs
In a recent study, the Economic Policy Institute analyzed American jobs lost to China between 2001 and 2011. During that time, “the trade deficit with China eliminated or displaced more than 2.7 million U.S. jobs, over 2.1 million of which were in manufacturing,” according to the report. Based on the study, 24/7 Wall St. identified the 10 states that experienced the most job loss as a result of the deficit between 2001 and 2011.
Some industries were affected more than others. Between 2001 and 2011, the U.S. trade deficit with China grew $217.5 billion, with U.S. imports of computer and electronic parts, including computer, semiconductors and audio-video equipment, making up 55 percent of the total. Of the 2.1 million manufacturing jobs lost, more than 1 million were in the computer and electronic products category.
As a result, many of the states that lost the most jobs have congressional districts with high concentrations of technology jobs. According to the report, states like California and Texas have congressional districts with heavy focus on tech. Four of the five congressional districts with the highest proportional decline — California’s 13th, 14th, 15th and 16th — are in the tech-heavy San Francisco Bay Area. The other is Texas’ 31st district, which forms part of Austin, also home to many of the nation’s largest technology companies.
Districts in some states, including Georgia and Alabama, “were especially hard-hit by job displacement in a variety of manufacturing industries, including computers and electronic products, textiles and apparel, and furniture,” according to the institute. Out of the country’s 435 congressional districts, Georgia’s 9th District is among the top 25 for job loss. The district includes the city of Dalton, which is home to manufacturers, including many prominent upholstery corporations.
Despite the talk of a manufacturing resurgence, Robert Scott, the author of the institute's study, calls this “hot air.” He notes that 50,000 manufacturing facilities have been closed since 2001 with very few coming back anytime soon. He suggests the only way to get a manufacturing resurgence off the ground is for the federal government to crack down on China’s currency manipulation and to get American companies to truly invest in manufacturing. “There is a lack of willingness to put that in place,” Scott said. “Standing by and hoping manufacturing is going to get better isn’t going to work.”
24/7 Wall St. identified the states losing the most jobs to China based on the Economic Policy Institute report, “The China Toll.” To reflect how much the trade deficit has affected state and local economies, we considered states that lost the most jobs relative to the population. On this basis, small states like New Hampshire and Vermont have been just as hurt when worker migration is compared to total jobs in each state. 24/7 Wall St. also reviewed the level of export activity and job losses in the 50 states and 435 congressional districts relative to the number of people employed by state. The relative growth rate of gross domestic product for each state for 2011 and between 2008 and 2011 is based on data from the institute's report. The July 2012 unemployment rate by state is from the Bureau of Labor Statistics.
24/7 Wall St.: America's most hated industries
What emerges from these figures is that the shift of jobs to China does not spare any state based on its unemployment rate or GDP growth. Nor does it spare any single industry or sector, from technology to shoe making. China’s ability to take jobs from the U.S. stretches across nearly every aspect of the American economy.
These are the 10 states losing the most jobs to China.
1. New Hampshire
Percent jobs lost: 2.94 percent
Unemployment rate: 5.4 percent (seventh lowest)
GDP growth: 1.5 percent (18th highest)
Growth in New Hampshire exports to China has grown at a whopping rate of 1,032 percent between 2000 and 2011, according to the U.S.-China Business Council. During the same time frame, exports to the rest of the world have grown by just 69 percent. Seems that some companies in New Hampshire have decided that making products in China would be more efficient than exporting — almost 3 percent of the state’s jobs between 2001 and 2011 have been moved there. Fortunately, New Hampshire’s economy was stronger than most state economies. The unemployment rate of 5.4 percent, the seventh lowest in the United States, was almost three percentage points lower than the national rate. Between 2008 and 2011, GDP has grown by 3.89 percent, which places New Hampshire in the top 10 states in terms of GDP growth.
2. California
Percent jobs lost: 2.87 percent
Unemployment rate: 10.7 percent (third highest)
GDP growth: 2 percent (11th highest)
Four of the five congressional districts (of the 435 examined) with the most jobs lost are based in the Bay Area of California, home to many of America’s largest technology corporations. According to the San Francisco Chronicle, executives of California companies point to “strict environmental regulations and high taxes and labor costs” as barriers for bringing jobs back to the U.S. This comes at a time when the economy of America’s most populous state is struggling — the 10.7 percent unemployment rate in California was the third highest in the country in July. Between 2008 and 2011, California’s GDP has declined by $20.75 billion, far larger than any other state.
24/7 Wall St.: American cities adding the most jobs
3. Massachusetts
Percent jobs lost: 2.86 percent
Unemployment rate: 6.1 percent (12th lowest)
GDP growth: 2.2 percent (seventh highest)
President Obama and his campaign surrogates have claimed that Mitt Romney was heavily responsible for jobs being shipped overseas while the GOP candidate was governor of Massachusetts between 2003 and 2007. Factcheck.org notes that jobs did in fact go overseas during Romney’s time in office; however, the rate of job loss during that time actually was less compared to the four years before and after he was in office.
Two congressional districts in Massachusetts were in the top 10 in the country for jobs lost. Massachusetts 5th Congressional District shipped 17,200 jobs to China between 2001 and 2011, which amounts to 5.42 percent of the district’s current employment of 317,400. The largest city in the district is Lowell, known for its manufacturing base. Massachusetts 3rd District, which contains the state’s second-largest city of Worcester, has shipped 15,500 jobs overseas, which amounts to 4.8 percent of the current employment of 322,800 in the district.
4. Oregon
Percent jobs lost: 2.85 percent
Unemployment rate: 8.7 percent (13th highest)
GDP growth: 4.7 percent (second highest)
Oregon’s 1st Congressional District was hit the hardest by jobs moving to China. In 10 years, 21,100 jobs have been sent to China, which is 5.44 percent of the 388,100 people currently employed in the district. The district includes Beaverton, home to Nike Inc.’s headquarters. Nike has received substantial criticism over its outsourcing to China and its human rights record abroad. The good news for Oregon is that the economy is looking like it is making a turnaround. While the state’s unemployment was higher than the national rate, its GDP growth rate of 4.7 percent in 2011 was the second highest in the country that year. Between 2008 and 2011, GDP grew by 9.43 percent, which was higher than all but two states in the U.S.
5. North Carolina
Percent jobs lost: 2.67 percent
Unemployment rate: 9.6 percent (fifth highest)
GDP growth: 1.8 percent (15th highest)
The congressional district hit the hardest in North Carolina was the 4th, where North Carolina’s Research Triangle is located. The Research Triangle has been an East Coast version of Silicon Valley, with many large technology employers having a major presence in the region. Another sizable business where jobs have moved from the United States to China was furniture manufacturing. According to research from Duke University, High Point, N.C., is the “Furniture Capital of the World,” but has been losing jobs to China since the 1990s.
24/7 Wall St.: America's disappearing jobs
In a recent study, the Economic Policy Institute analyzed American jobs lost to China between 2001 and 2011. During that time, “the trade deficit with China eliminated or displaced more than 2.7 million U.S. jobs, over 2.1 million of which were in manufacturing,” according to the report. Based on the study, 24/7 Wall St. identified the 10 states that experienced the most job loss as a result of the deficit between 2001 and 2011.
Some industries were affected more than others. Between 2001 and 2011, the U.S. trade deficit with China grew $217.5 billion, with U.S. imports of computer and electronic parts, including computer, semiconductors and audio-video equipment, making up 55 percent of the total. Of the 2.1 million manufacturing jobs lost, more than 1 million were in the computer and electronic products category.
As a result, many of the states that lost the most jobs have congressional districts with high concentrations of technology jobs. According to the report, states like California and Texas have congressional districts with heavy focus on tech. Four of the five congressional districts with the highest proportional decline — California’s 13th, 14th, 15th and 16th — are in the tech-heavy San Francisco Bay Area. The other is Texas’ 31st district, which forms part of Austin, also home to many of the nation’s largest technology companies.
Districts in some states, including Georgia and Alabama, “were especially hard-hit by job displacement in a variety of manufacturing industries, including computers and electronic products, textiles and apparel, and furniture,” according to the institute. Out of the country’s 435 congressional districts, Georgia’s 9th District is among the top 25 for job loss. The district includes the city of Dalton, which is home to manufacturers, including many prominent upholstery corporations.
Despite the talk of a manufacturing resurgence, Robert Scott, the author of the institute's study, calls this “hot air.” He notes that 50,000 manufacturing facilities have been closed since 2001 with very few coming back anytime soon. He suggests the only way to get a manufacturing resurgence off the ground is for the federal government to crack down on China’s currency manipulation and to get American companies to truly invest in manufacturing. “There is a lack of willingness to put that in place,” Scott said. “Standing by and hoping manufacturing is going to get better isn’t going to work.”
24/7 Wall St. identified the states losing the most jobs to China based on the Economic Policy Institute report, “The China Toll.” To reflect how much the trade deficit has affected state and local economies, we considered states that lost the most jobs relative to the population. On this basis, small states like New Hampshire and Vermont have been just as hurt when worker migration is compared to total jobs in each state. 24/7 Wall St. also reviewed the level of export activity and job losses in the 50 states and 435 congressional districts relative to the number of people employed by state. The relative growth rate of gross domestic product for each state for 2011 and between 2008 and 2011 is based on data from the institute's report. The July 2012 unemployment rate by state is from the Bureau of Labor Statistics.
24/7 Wall St.: America's most hated industries
What emerges from these figures is that the shift of jobs to China does not spare any state based on its unemployment rate or GDP growth. Nor does it spare any single industry or sector, from technology to shoe making. China’s ability to take jobs from the U.S. stretches across nearly every aspect of the American economy.
These are the 10 states losing the most jobs to China.
1. New Hampshire
Percent jobs lost: 2.94 percent
Unemployment rate: 5.4 percent (seventh lowest)
GDP growth: 1.5 percent (18th highest)
Growth in New Hampshire exports to China has grown at a whopping rate of 1,032 percent between 2000 and 2011, according to the U.S.-China Business Council. During the same time frame, exports to the rest of the world have grown by just 69 percent. Seems that some companies in New Hampshire have decided that making products in China would be more efficient than exporting — almost 3 percent of the state’s jobs between 2001 and 2011 have been moved there. Fortunately, New Hampshire’s economy was stronger than most state economies. The unemployment rate of 5.4 percent, the seventh lowest in the United States, was almost three percentage points lower than the national rate. Between 2008 and 2011, GDP has grown by 3.89 percent, which places New Hampshire in the top 10 states in terms of GDP growth.
2. California
Percent jobs lost: 2.87 percent
Unemployment rate: 10.7 percent (third highest)
GDP growth: 2 percent (11th highest)
Four of the five congressional districts (of the 435 examined) with the most jobs lost are based in the Bay Area of California, home to many of America’s largest technology corporations. According to the San Francisco Chronicle, executives of California companies point to “strict environmental regulations and high taxes and labor costs” as barriers for bringing jobs back to the U.S. This comes at a time when the economy of America’s most populous state is struggling — the 10.7 percent unemployment rate in California was the third highest in the country in July. Between 2008 and 2011, California’s GDP has declined by $20.75 billion, far larger than any other state.
24/7 Wall St.: American cities adding the most jobs
3. Massachusetts
Percent jobs lost: 2.86 percent
Unemployment rate: 6.1 percent (12th lowest)
GDP growth: 2.2 percent (seventh highest)
President Obama and his campaign surrogates have claimed that Mitt Romney was heavily responsible for jobs being shipped overseas while the GOP candidate was governor of Massachusetts between 2003 and 2007. Factcheck.org notes that jobs did in fact go overseas during Romney’s time in office; however, the rate of job loss during that time actually was less compared to the four years before and after he was in office.
Two congressional districts in Massachusetts were in the top 10 in the country for jobs lost. Massachusetts 5th Congressional District shipped 17,200 jobs to China between 2001 and 2011, which amounts to 5.42 percent of the district’s current employment of 317,400. The largest city in the district is Lowell, known for its manufacturing base. Massachusetts 3rd District, which contains the state’s second-largest city of Worcester, has shipped 15,500 jobs overseas, which amounts to 4.8 percent of the current employment of 322,800 in the district.
4. Oregon
Percent jobs lost: 2.85 percent
Unemployment rate: 8.7 percent (13th highest)
GDP growth: 4.7 percent (second highest)
Oregon’s 1st Congressional District was hit the hardest by jobs moving to China. In 10 years, 21,100 jobs have been sent to China, which is 5.44 percent of the 388,100 people currently employed in the district. The district includes Beaverton, home to Nike Inc.’s headquarters. Nike has received substantial criticism over its outsourcing to China and its human rights record abroad. The good news for Oregon is that the economy is looking like it is making a turnaround. While the state’s unemployment was higher than the national rate, its GDP growth rate of 4.7 percent in 2011 was the second highest in the country that year. Between 2008 and 2011, GDP grew by 9.43 percent, which was higher than all but two states in the U.S.
5. North Carolina
Percent jobs lost: 2.67 percent
Unemployment rate: 9.6 percent (fifth highest)
GDP growth: 1.8 percent (15th highest)
The congressional district hit the hardest in North Carolina was the 4th, where North Carolina’s Research Triangle is located. The Research Triangle has been an East Coast version of Silicon Valley, with many large technology employers having a major presence in the region. Another sizable business where jobs have moved from the United States to China was furniture manufacturing. According to research from Duke University, High Point, N.C., is the “Furniture Capital of the World,” but has been losing jobs to China since the 1990s.
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al frey
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al frey
hey doc, before you go on another rant, all I was asking for was a local point of reference...don't give yourself a heart attack...I agree with most of what you say but you sure are long winded and dont address the question...but to be honest, I really don't give a shit due to the cut and paste attitude you have but at one time I was curious
that may be true Sooper but that's federal land, long ago the federal govt agreed that it was up to each state as to how they would allow ownership, lease etc of its land. MN holds agricultural (ag) in the highest regard.
�� As of 2004, Minnesota generally imposes alien landownership restrictions only on “agricultural land.” Agricultural land is defined as land that has not been zoned for nonagricultural uses by a local governmental unit.
�� The rules do not vary by tenure; they apply equally to ownership or rental of farmland. An alien desiring to rent or lease agricultural land is treated the same as an alien seeking to purchase or own agricultural land.
�� Restrictions under the law do not apply to an individual who is classified by the U.S. government as a “permanent resident alien.” The statutes define a permanent resident alien as someone who has been lawfully admitted to the United States for permanent residence or who holds a nonimmigrant treaty investment visa.
�� An individual with a nonimmigrant treaty investment visa may engage in dairy farming (and only dairy farming) in the state and must live at his or her principal dwelling place anywhere in Minnesota for ten months out of every year. The dairy farmer is limited to an interest in a maximum of 1,500 acres. Further, the person must actively pursue U.S. citizenship within three years after acquiring a rental, lease, or purchase interest in Minnesota agricultural land.
�� Every permanent resident alien and investment visa holder must report to the Commissioner of Agriculture within 30 days of acquiring an interest in agricultural land in the state. Additional reports must be filed in January of each year. The Department of Agriculture makes forms available for filing these reports.
�� A corporation or other business entity with over 20 percent foreign ownership cannot own or operate a farm in the state, even if it is the type of entity that otherwise could do so under Minnesota’s corporate farm law. Minn. Stat. § 500.24. The statute provides a few narrow exceptions to the prohibition on foreign corporations and businesses holding interests in agricultural land. These include the following:
�� land acquired through the enforcement of a debt, but the land must be divested within three years
�� land held by an individual, corporation, or business under the terms of a treaty between the United States and a foreign country
�� land used for transportation purposes by a common carrier
�� land used for research or experimental purposes that was grandfathered when alien landownership restrictions were re-imposed in 1977
�� tracts of land less than 40 acres that are used for pumping equipment by a foreign pipeline company
�� land held by an E-2 investment visa holder on August 1, 2003, but the person must become eligible under other provisions to continue holding the interest in land beyond August 1, 2008
�� Current law specifies detailed procedures the Commissioner of Agriculture can use to enforce landownership and use restrictions on aliens and foreign corporations and businesses.
so nobody's moving in on MN agricultural lands any too soon. because my acreage had been broken off from an old farmstead (I own meadow & forested land) it retained it's ag status, most everyone I know that live on purely forested acres of soft & hardwood trees and pine are listed as ag lands.
Sure a few exceptions may be made, but when they are made rules are in effect so that they're also compelled to comply within a certain time frame so as NOT to allow them to slip between the cracks.
btw, 2004 was just the last go 'round in the MN legislature, these rules have been in effect in one form or another since the mid 1800's. I was forced to know most of this for my real estate license.
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darkshadow
Member
Source : http://www.marketwatch.com/story/us-to-hit-debt-limit-in-mid-october-lew-says-2013-08-26
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) — The U.S. government will hit the debt ceiling and be unable to borrow money to pay its bills in the middle of October unless Congress votes to increase the federal debt ceiling, Treasury Secretary Jacob Lew said Monday.
This is a more precise estimate than Lew has provided in the past and is earlier than estimates of many private forecasts.
Some experts had said that the federal government would not hit the limit until mid-November.
Treasurys rose a bit on the news, which was initially broken in a story in The Wall Street Journal.
The revised estimate came in a letter Monday from Lew to Speaker of the House John Boehner.
In his letter, Lew said that in mid-October, Treasury would be left to fund the government with “only the cash we have on hand on any given day,” now estimated to be about $50 billion.
“Operating the government with no borrowing authority, and with only the cash on hand on a given day, would place the U.S. in an unacceptable position,” Lew said.
“A cash balance of approximately $50 billion would be insufficient to cover net expenditures for an extended period of time,” he said, but said it was not possible to precisely estimate when the cash balance would reach zero.
Since May, Treasury has been using extraordinary accounting measures to avoid hitting the debt limit, but these tools will be exhausted around October 15, Lew said.
The revised timeline puts more pressure on lawmakers and the White House to find a way to increase the $16.7 trillion debt ceiling.
If the debt ceiling isn’t raised, the country could face a financial crisis.
Recent reports say that the White House and Congress are far apart over what Republicans want in return for voting to raise the debt ceiling. Many Republicans want deep spending cuts in return for an increase. President Barack Obama has said he will not negotiate on the issue.
Congress is not set to return to Washington until the week of September 9.
Lawmakers are facing a separate deadline of the end of September to pass a stopgap measure to fund the government for the next fiscal year.
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) — The U.S. government will hit the debt ceiling and be unable to borrow money to pay its bills in the middle of October unless Congress votes to increase the federal debt ceiling, Treasury Secretary Jacob Lew said Monday.
This is a more precise estimate than Lew has provided in the past and is earlier than estimates of many private forecasts.
Some experts had said that the federal government would not hit the limit until mid-November.
Treasurys rose a bit on the news, which was initially broken in a story in The Wall Street Journal.
The revised estimate came in a letter Monday from Lew to Speaker of the House John Boehner.
In his letter, Lew said that in mid-October, Treasury would be left to fund the government with “only the cash we have on hand on any given day,” now estimated to be about $50 billion.
“Operating the government with no borrowing authority, and with only the cash on hand on a given day, would place the U.S. in an unacceptable position,” Lew said.
“A cash balance of approximately $50 billion would be insufficient to cover net expenditures for an extended period of time,” he said, but said it was not possible to precisely estimate when the cash balance would reach zero.
Since May, Treasury has been using extraordinary accounting measures to avoid hitting the debt limit, but these tools will be exhausted around October 15, Lew said.
The revised timeline puts more pressure on lawmakers and the White House to find a way to increase the $16.7 trillion debt ceiling.
If the debt ceiling isn’t raised, the country could face a financial crisis.
Recent reports say that the White House and Congress are far apart over what Republicans want in return for voting to raise the debt ceiling. Many Republicans want deep spending cuts in return for an increase. President Barack Obama has said he will not negotiate on the issue.
Congress is not set to return to Washington until the week of September 9.
Lawmakers are facing a separate deadline of the end of September to pass a stopgap measure to fund the government for the next fiscal year.
