“The 74-26 vote in the Senate paves the way for President Barack Obama to sign the bill into law. The vote came a day after members of the House of Representatives passed the bill, which raises the government's debt ceiling by at least $2.1 trillion and cut federal spending by $2.4 trillion over 10 years… Despite the deal, global stock markets tumbled Tuesday after data fuelled fears the U.S. might be sliding back into recession.” You mean the market and investors were not fooled by calling even more deficit spending a debt ceiling deal? Shocking. I bet Obama claiming victory won’t save our credit rating either. Much like any other household with too much debt to qualify for another loan.
Wednesday, August 3, 2011
Sean Duffy(R-Wis.) is an economic idiot.
“"It's about time that Congress come together and figure out a way to live within our means," said Rep. Sean Duffy, R-Wis.” You idiot, the very meaning of raising the debt ceiling is that congress is nowhere near inside it “means”, which, as congress makes no money, it doesn’t even have to begin with. You live within your means by paying off credit cards, not maxing out yet another card and patting yourself on the back for it.
"This measure… will finally begin to change the way Washington spends taxpayer dollars," House Majority Leader Eric Cantor, R-Va., said. How so? This is even more deficit spending, with dealing to position career politicians for re-election. The taxpayers got screwed, the American people got no solution, and the politicians all claim victory and blame the other side. What’s changed?
Tuesday, August 2, 2011
Deficit spending by executive order
Oh look, more deficit spending by executive order without a congressional vote.
Lindsey gets it right.
Lindsey gets it right. “Fellow Republican Lindsey Graham of South Carolina said he was a no vote. "Simply stated, it locks us into more debt, bigger government and most devastating of all, a weakened defense infrastructure at a time when we face growing threats."”
“"Now, is this the deal I would have preferred? No," Obama said. "But this compromise does make a serious down payment on the deficit reduction we need”” Are you kidding me? -2.4 +2 = -0.4 TRILLION dollars! And that’s assuming we get the proposed 2 trillion in cuts over 10 years…. And not taking interest into account ‘cause they are going to blow all 2.4 trillion within a year. Is Obama that stupid, or does he just think we are?
"It isn't the greatest deal in the world, but it shows how much we've changed the terms of the debate in this town," he said on a conference call, according to GOP officials. He added the agreement was "all spending cuts. The White House bid to raise taxes has been shut down." I guess pointing out that it is ALL DEFICIT SPENDING would sounds as nice.
The “deficit reduction plan”
So we’re going to spend 2.4 trillion in just over a year… and “pay” for it with 2 trillion in spending cuts(maybe, if the panel feels like it and depending on how much fuzzy math they can cook up) over 10 years. This “deficit reduction plan” itself is a huge deficit expenditure. How serious can congress be when tackling the debt problem by adding more debt?
Republican RINO leadership caves. “But one House GOP lawmaker who told Fox News he intends to vote against the plan emerged from the call saying he doubted it was 98 percent in the GOP's favor. "The minority leader's on board," said the lawmaker who requested anonymity in order to speak freely. "Really? Nancy's cool with only 2 percent? She's that stupid?"” Nope, the taxpayers are getting soaked, the economy will continue downward, and the debt will continue upward. 98% is another flat out lie by career politician Boehner.
Look at it with reference to the original goals.… The liberal goal was 2.4 trillion debt hike, tax hikes, real military cuts and fake spending cuts. The conservative goal was to stop deficit spending with a few years(cut), and make it illegal continue deficit spending(cap and balance), without new taxes. What did we end up with? 2.4 trillion debt hike(liberal win), Military cuts(liberal win), fake spending cuts(liberal win), more deficit spending(conservative fail), panels to debate debt(conservative fail), and no new taxes… in this bill… right now… but you going to have to pay for those extra trillions borrowed somehow in the future… so future taxes!(conservative fail) This is plainly a 98% liberal win, 2% conservative bill.
Liberals call conservatives terrorists. Trying to stop the federal government from bankrupting the US is terrorism? Trying to force tax and spend politicians to balance their budget like every American household must is terrorism? Trying to cap Obama’s unprecedented spending, the one truly historic achievement he’s made, is terrorism? Perhaps we should look closer at these groups who want to bankrupt america.
Candy coated Whitehouse lies.
The economy is going down the tubes, surrounded by candy coated Whitehouse lies.
Obama rams though new fuel economy standards.
Obama rams though new fuel economy standards. In the next 10 years expect car prices to go up $2500 (if you believe the government, and when have they ever gotten a cost right?) or more likely $8500. Kiss torque, people capacity and safety goodbye.
What’s really going on?
http://www.bloomberg.com/news/2011-07-29/treasury-may-have-to-adopt-risky-payment-plan-as-u-s-deadline-looms.html
Political games, the US is in no real danger of default.
Political games, the US is in no real danger of default.
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