Weekly Chat (Non-Osprey), 28 May 2023

Really enjoyed "Sister Act" at Eden Court last night. Lesley Joseph was excellent as Mother Superior.

ANNETTE: By 1917 the US economy had become massive. The Treasury Department didn't want to continue seeking authoriry from Congress every single time they needed to issue bonds and raise money, especially because the US was entering World War 1. So the debt ceiling/limit was created in 1917, establishing a limit under which the Treasury didn't have to seek authorization from Congress to incur debt.

The debt ceiling is NOT in the Constitution. It's simply a statute, and the Democrats could have abolished it any time they had a majority.

ANNETTE: Some people would make the case that the US dollar is the standard currency for global investment, the primary reserve currency, and the key medium for international trade. We are also the largest debtor nation, and we count on other countries to buy our debt. So, the debt ceiling is necessary to sustain our reputation for being the world's strongest currency and for our bonds being the safest and most stable for global investment. If that faith is lost, chaos would sweep the world credit markets. Also, we might have to pay more to borrow the funds necessary to pay our national debt.

Personally, I think the debt limit uncertainty damages us internationally and internally, and it should be abolished or suspended. My original post to you above was much longer. I went on a full-blown rant about the ways both Republicans and Democrats use these annual debt ceiling fights for political ends, with no regard for our people or the world. Then I realized my post would aggravate you and bjane, so I deleted most of it. :-)))

Diane, Annette and bjane, I have just heard on the World Service that the bill has passed. I gather it will re emerge after your next election! However, I hope you can temporarily stop worrying.

RUSTY- I heard it too - big sigh of relief. I've heard the word ' brinkmanship' used this week ...

DIBNLIB - my two elder daughters were there, they said the same - a great show.

Diane: Haha! No, it wouldn't have upset me. The fact that it has turned into a game of chicken (brinkmanship - thank you Heather!) is obvious. And yes, I knew about the trade aspect, etc., but I think I'd just blanked out on the whole issue out of sheer frustration with the political shenanigans.

Had to stop suddenly yesterday, so didn't get around to replying (I think to HEATHER) - I couldn't plant the hanging baskets - too much for my weak/painful right arm, up onto table then across to basket.

My chair gave up last night, while raising it to get up to go to bed - electrical connection failed! Hopefully booked for a visit next Monday. Had some difficulty getting off - hurt my bad leg. Could be that cleaners strained the cable, it came apart at a connection - dangerous but I am okay.

Yesterday started cooler and cloudier - thought ANNETTE's "june gloom" had arrived - but the day improved, and full sunshine today. Should finally get caught up with outstanding jobs - mowing again and planting - though still other jobs to do! I can't sit outside while he mows due to hayfever.

J worked Weds and is there again today - I think all the fresh air of outside play is doing him good!

Greedy baby sparrows ourside my window - asking all adults for food - sure I saw one getting fed by two different males!

Diane - I did read your original post so thank you for revising it! I had faith that it would pass so am glad my faith was rewarded!
"Biden may have trouble riding a bike or walking across a stage, but he knows how to get things done in DC better than any president since Reagan" - Joe Scarborough MSNBC host of Morning Joe and a former Republican in the House of Representatives