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The Government Shutdown Battle Is Over; Now The Real Soap Opera Ratings War Begins

Tyler Durden's picture




 

For some reason, much ado is being made about the nothing that is last night's 11th (or technically 10th) hour aversion of a government shutdown. As we pointed out last week, it is not as if this strawman outcome, or for that matter the raising of the debt ceiling was ever in doubt: "look for both of these events to be consistently spun as key
positive outcomes, even though the chance of these things actually not
transpiring in a non-favorable light is non-existent." And sure enough, we are confident that the spin of this outcome will be extremely bullish even if in reality it is the perpetuation of a baseline status quo, while the alternative would have been unthinkable. In the grand scheme of things, this was nothing more than a free episode of political soap opera.
The markets largely shrugged, because the Treasury Department still
would have been able to issue and service debt and the Fed would continues to goose markets higher courtesy of POMO.
Yet as Reuters points out astutely: "The battle over the U.S. budget has ended. Now the war begins. The debate over this year's budget that took the U.S. government to within an hour of a shutdown is only a dress rehearsal for bigger spending clashes to come." Here is what to look forward to, as the beltway entertainment spigot is cranked out to the max.

Within weeks, the government will bump up against the limits of its borrowing authority and will require congressional action to avoid a debt default that would roil financial markets.

At the same time, Republicans in the House of Representatives are targeting bigger game in their budget plan for the next fiscal year, which starts on Oct. 1.

Their proposal would slash taxes and overhaul Medicaid and Medicare, government-run health programs for the poor and elderly. It is likely to be rejected by the Democratic-controlled Senate, setting up another showdown between the two chambers.

That fight could last well into the 2012 campaign season, when President Barack Obama, one-third of the U.S. Senate and the entire House will face voters.

The budget deal agreed on Friday, if it passes Congress next week, would amount to the largest domestic spending cut in U.S. history.

That's a victory for Republicans who won control of the House in November on a promise to scale back the government and take a bite out of recession-bloated budget deficits that have hovered around 10 percent of GDP in recent years.

And now looking onto the next strawman: the hike of the debt ceiling. Look for much sound and fury on that issue too, which ultimately result in up to a $3+ billion hike to the ceiling, enough to carry America through to after the presidential election. Look for even moresound and fury as the debt ceiling is for the first time ever well above total US GDP.

 Treasury Secretary Timothy Geithner estimates the government could hit its current debt limit of $14.3 trillion by mid-May and has warned failure to raise it would be "catastrophic." Treasury could employ a variety of tricks to avoid defaulting for several weeks, but eventually it would run out of options.

An increase of at least $1 trillion is needed to keep the government running through the end of fiscal year on Sept. 30, according to a Reuters analysis. To last until the November 2012 election, the increase would need to be well over $2 trillion.

Raising the debt ceiling is always a politically difficult vote no matter the circumstances, but it will be a heavier lift for Republicans. Facing pressure from fiscally conservative Tea Party activists, they say they will not vote to raise the debt ceiling without significant concessions to slow government spending further.

That could force Treasury to spin its wheels for months while Congress works out a solution, said Ethan Siegal, a policy analyst with The Washington Exchange, which tracks political developments for investors.

"We do not know how that deal will be reached, or when it will be reached -- just that we believe a deal will be reached and that it will be very ugly," Siegal wrote in a research note on Thursday.

And in other upcoming sitcoms previews:

Next year's budget debate will not be pretty, either.

Democrats have already promised to block the Republican proposal to give states control over the Medicaid health program for the poor and turn the Medicare health program for retirees into a voucher system.

Democrats also have criticized House Budget Committee Chairman Paul Ryan's refusal to end tax breaks for wealthy oil companies or to propose other tax increases that many budget experts think are necessary to solve long-term fiscal woes.

And there will be a chance to reprise the recent fight over domestic spending, which focused largely on the discretionary programs whose funding levels are set by Congress each year.

Ryan is seeking another round of deep cuts in that area, which encompasses education, law enforcement, aid to the poor, and space exploration, but represents only about 14 percent of the U.S. annual budget.

In his plan for the 2012 fiscal year, Ryan would slice approximately $80 billion from those discretionary programs, while increasing defense spending about $28 billion.

"This is a big hit on non-security spending" on top of cuts already achieved this year, said one budget analyst and former White House budget official, who asked not to be identified.

The bottom line is that a few more billion will be cut here and there but nothing will ultimately change until such time as the bond vigilantes run out of [Insert insolvent country] is not [Insert another insolvent country] comparisons, and focus their overdue attention on the most insolvent country of them all.

 

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Sat, 04/09/2011 - 11:55 | 1153251 cosmictrainwreck
cosmictrainwreck's picture

An increase of at least $1 trillion is needed to keep the government running through the end of fiscal year on Sept. 30, according to a Reuters analysis.

Hence, the goal is survive to Sept 30. Ya think Timmah's in trouble?

 

Sat, 04/09/2011 - 12:08 | 1153273 Pool Shark
Pool Shark's picture

 

Sound and fury signifying nothing...

They're just rearranging deckchairs on the Titanic, and arguing over what tune the band should play as we slip beneath the waves.

Meanwhile the banksters have rowed-away in all the 'millionaire special' lifeboats, leaving the rest of us to drown...

 

Sat, 04/09/2011 - 12:34 | 1153314 FreedomGuy
FreedomGuy's picture

"And sure enough, we are confident that the spin of this outcome will be extremely bullish even if in reality it is the perpetuation of a baseline status quo, while the alternative would have been unthinkable."

Exactly, right! The Republicans will fail, not because they don't have the right instincts but because they don't have the correct beliefs/ideology. Their fatal flaw is that they do not ask government to stop doing ANYTHING! The beast is left intact but perhaps a little hungrier for the minor budget cuts. To fully and permanently cut the budget and bring the U.S. fiscal universe into balance you must eliminate whole agencies and their missions. You then have to freeze any increases in Soc. Sec and Medicare. In fact, Medicare and Caid should go to a per person allotment or spending account. That's it.

When the Republicans fail I wonder what comes next. I thing there's a good chance of some sort total overthrow of the Republican party. I think Dems survive because they are the party of the State and there's always a large constituency for that.

Sat, 04/09/2011 - 15:42 | 1153686 jmc8888
jmc8888's picture

No the answer isn't that. (that's the answer to the people who want to cut services [why?] when the debt problem is a problem of legitimized fraud)

The answer is Glass-Steagall

Cancel the frauds, and you'll have TRILLIONS the gov't can utter for REAL projects that will enhance our lives AND the business climate (greater efficiency, more energy, more raw materials, and new stronger materials/superconducters, etc)

The answer isn't to cut social security, nor the EPA (although their whole Fascist Green crap has got to go....as the gas of life Carbon Dixoide, isn't the same as say Sulfur, TCE, etc). Thus the republicans are idiots.  Thus Ron Paul is an idiot.

The answer isn't to print for fraud.  Thus Obama, and the democrats are idiots. 

The answer WILL NOT come from dems, repubs, or the corporate Tea party. As all of them are idiots about the issue.  Cut....Print..WRONG!

Wipe out the debt that is causing the idiots to print or want to cut.

How? We used to do it, we had a standard in place.  We just need to bring back that standard, and actually apply it to all of bankster realm.

Glass-Steagall

Oh yes it will freeze the RMBS, CMBS, faulty derivatives, bogus bonds and bailouts, etc.  It will take these things off the books of everywhere, put it into one wind-down institution, and forbid these things to be traded, within the U.S.

If foreigners want to continue this crap, they should know that if the U.S. does this, they'll be bankrupted immediately, even if it takes a few days, or weeks to filter through the dipshits what it actually means.  But hey, they can implement these things to, and be saved like us.

Anything else, is pure idiocy.

BTW, this gives us the chance to like Hamilton, soak up the state debt, so state services no longer need to be cut. It gives us the chance to fund things like NAWAPA, fusion, space, mag-lev, machine tools, etc.

Also BTW, it gives us the opportunity to cut the bs, as I've said above, the bailouts, the corporate bankster wars, etc.  So as you see, once we right the ship, with Glass-Stegall there's still plenty of cutting, and spending we need to do. But ONLY, and I repeat ONLY Glass-Steagall will give us this chance. (of course it can be called another name, it's the principles within Glass-Steagall that matter)

You don't want no gov't, you just want to get rid of corporate bankster gov't.  Small gov't can be just as corrupt as big gov't.  So what you really want is a gov't...of, by, and for the people...and nowhere is size in that definition.  We the people decide.  We decided already, we want social security, we want healthcare, we want a level playing field, we want the gov't to issue safety standards, etc.

We just don't want the corporate bankster syndicate to be issuing our decrees on the above. 

Glass-Steagall will give us that chance, but we still have to then RUN IT correctly going forward.  So the idiot Repubs, dems, and tea party...need to wisen up, because even the solution can be fucked up, if we go back to being idiots and focusing on the wrong issues. 

Only the fools in their respective dem, repub, tea camps think THEIR way will solve it.  Nope, NONE of their ways will fix anything, in fact, following ANY of their paths, will make things worse.  Because with dems you get hyperinflationary death, with repubs/tea you get deflationary death ALONG with; big business killing you through reduced regulations, lower pay, very few gov't services, no heatlhcare, etc.

So either the dem path or the repub/tea path is idiotic, and will only make things worsethan they already are.  Only getting the idea RIGHT, that we have been a victim, willingly or not, of fraud, and taking the steps necessary to rectify that fraud by cancelling it, will give us the room we need to right the ship.  Then with our 'room' we need to address some very real problems as to do with water, energy, resources, and only big Manhattan style projects over decades, will we achieve true freedom. 

NAWAPA = Water, energy, and beginning terraforming

Mag-lev = efficient transportation, lower business costs

Machine tools = better products, efficiency, less waste

Fusion = virtually unlimited energy

Fusion arc = virtually unlimited resources of elements 1-92

We don't need to pay off fraud, or cut needed services, we need the above to get beyond REAL problems, and only Glass-Steagall and a commitment to the projects above (or like ones that achieve the same goals) will give us that. 

Anyone advocating a noticable different approach is pissing into the wind, and wasting their precious time on this Earth achieving NOTHING.  Remember that key fact, in the end, repub, dem, tea...achieve NOTHING that we need.  Because none of their ideologies actually get to the core of our problems, and since it's outgrowth of sophistry somewhere down the ideological line, it is just a 'waste of time'.

Fuck Obama, Fuck Boehner, Fuck Pelosi, Fuck Reid, Fuck Paul, Fuck Ryan, Fuck Christie, Fuck all the idiots that won't take the easy AND correct approach of grabbing the low hanging fruit that is Glass-Steagall and then not being afraid of using gov't to engage in these mankind saving projects. (no I didn't junk)

Sat, 04/09/2011 - 16:25 | 1153771 Zero Govt
Zero Govt's picture

JMC8888   ..."The answer is Glass-Steagall"

Really? Tell me, how does any Law or Legislation change anything? Your starter for ten, you've got the whole of human history to work with, give me one fuking example of a single law or piece of legislation that has worked???

Does the law on murder stop murder? Does the law on drugs stop drugs? Did EU legislation saying bailouts were illegal stop illegal European bailouts? Do the warehouses full of financial regulations, including mis-selling, stop, arrest and convict the mass national mis-selling of sliced and diced mortgage fraud?

You find me a single f'n law or single piece of f'n legislation that works and i'll support your nonsense Glass-Steagall bollocks. Away you go...


Sat, 04/09/2011 - 17:06 | 1153852 weinerdog43
weinerdog43's picture

Well, dumb-ass, it seemed we did pretty good for almost 80 years until regulation of the banksters was DEREGULATED by Gramm-Leach-Bliley.  Commercial and investment banks were held at arms length.  Christ you're a moron.

Sat, 04/09/2011 - 21:15 | 1154163 pods
pods's picture

That is like saying that falling out of an airplane isn't bad.  It is bad until it is.

Deregulation was done because we could not issue debt fast enough.  It was needed.  Sure, some banksters made off with some nice unearned income, but the system needed a new avenue of debt issuance.

 

Sorry, but wherever mako is right now, he is smiling. 

The answer is so simple nobody will look at it.

The system is set up to crash.  It has to.  By issuing debt to cover p, but requiring p+I to pay it off needs constant debt expansion to survive.

Usually, there are cycles, and the banks just collect real property during the defaults.  But, we also have a political system that will not allow the necessary corrections in that system.  So the small defaults are put off until a big one comes.  It is big enough to take down the banks. So the gov steps in to cover the deflation.  Pretty soon we will see what happens when the gov and FED implode.

 

In short, it is nothing more than the system itself, working as designed that has caused us all our problems.

Issuing debt with interest is an exponential function.  You cannot have that work as we (as non-banksters) would like in a finite world.

pods

Sun, 04/10/2011 - 00:10 | 1154399 Cursive
Cursive's picture

Sorry, but wherever mako is right now, he is smiling. 

I was just thinking of him yesterday.

Sun, 04/10/2011 - 04:38 | 1154593 Zero Govt
Zero Govt's picture

Weinerdog

if you think we "did pretty good for 80 years" due to regulation then you need to chart that regulations and regulators increased, not decreased, over the time all the problems occured. We had a peak of 130 regulators no less looking at AIG, how did they do dumb-arse??? 

Sat, 04/09/2011 - 17:06 | 1153853 weinerdog43
weinerdog43's picture

Well, dumb-ass, it seemed we did pretty good for almost 80 years until regulation of the banksters was DEREGULATED by Gramm-Leach-Bliley.  Commercial and investment banks were held at arms length.  Christ you're a moron.

Sun, 04/10/2011 - 10:25 | 1154604 Zero Govt
Zero Govt's picture

Weinerdog

how did regulation contribute to the good 80 years? ...give me an example of a single regulation that aided the good times, how it helped any bwankers?

All regulation/regulators do is put a turd in the street for businesses to have to step around. It adds cost and time to the irrelevance of complying with red tape. And it's No.1 role of course is to allow vested interests to screw competitors

amazing how the staff between Govt, banks and regulators are so inter-changeable (inter-connected?). We're told regulators need 'experienced operatives'. Just the results of this 'experience' is not at all apparent. If by 'experience' they mean sitting their fat arses on files with global fraud in them and whistling Dixie then they sure are experienced at that.

Look how much Wank Paulsons 'experience' helped us when his former employer went bankrupt. He turned from (failed) policeman and (failed) oversight to criminal rewards for the success of bankruptcy. Another regulator 'confused' (conflicted) by their role ...where does the US Govt find these regulatory assholes???  

So the huge additions of Govt regulation in the past 30 years has in fact been a big part of the insestuous in-bred WS problem and which patently has not worked and is very evident in the banking crisis, dumb-ass 

Sat, 04/09/2011 - 19:10 | 1153990 Buckaroo Banzai
Buckaroo Banzai's picture

Yes, exactly. Not only does regulation not work-- it creates the illusion of a level playing field. All investors MUST have a clear understanding that the game will ALWAYS be stacked in favor of the insiders, and that THE HOUSE ALWAYS WINS. The definitive case has been made, by both Hayek and Sowell.

http://www.marketoracle.co.uk/Article27329.html

When people fully realize this, they will of course abandon the stock markets, as they should. Publicly-traded corporations are a shitty place to put your money to work.

 

Sun, 04/10/2011 - 05:46 | 1154614 Zero Govt
Zero Govt's picture

Buckaroo  -  your Gary North article is spot on. It says, "Corporate management is the Mob. It operates in terms of a system in which Congress serves as the enforcer, along with the SEC. Congress is not cleaning up the financial system, ethically speaking. The financial system is cleaning up by means of Congress."

My thoughts for a few years now. Regulation (in banking, media, healthcare/drugs to energy markets) is a protection racket for established fat cat monopolists. Regulation is fascism, nothing more, nothing less

Sun, 04/10/2011 - 13:36 | 1155167 FreedomGuy
FreedomGuy's picture

Agreed ZG. Put another way I like to ask, "How many regulations do we need until all of life is perfected and there is no more evil?" Conversely, "How many regulations does it take to make all of life miserable, impossible and all of us become criminals?" No one has answers but instincts tell us we are far closer to the second situation.

The corollary is "At what tax rate are all social ills resolved forevermore?" The truth is that we can tax everyone 100% and there will still be social ills and the modern liberal-statist-collectivist will still be mad and claiming how unfair life is.

I vote for the other direction. Give me freedom with all its attendant problems. We will do better.

Sat, 04/09/2011 - 17:40 | 1153882 NidStyles
NidStyles's picture

Too late for all of that. It was removed the Ponzi got out of control, and now nothing will stop it's collapse. Not even replacing the regulation's that you are advocating.

 

The game is over, grow up and get used to it, because none of your kicking and screaming that you are right will change that fact.

Sun, 04/10/2011 - 09:06 | 1154726 downwiththebanks
downwiththebanks's picture

Going back to Glass-Steagal would be a good start.  Taxing the hell out of the useless derivatives trade is another.  

Abolishing the Taft-Hartley is another.

There are so many ways in which Uncle Sam can collect revenue.  It's sad that going after the elderly and the poor are the only posited 'solutions'.

Sun, 04/10/2011 - 10:06 | 1154771 Zero Govt
Zero Govt's picture

DownwiththeBanks  -  just a small point here but in order to tax an enterprise they need to be profitable. None of the banks you want to tax are profitable, they all went stone cold bankrupt in 2008 (hence a bailout)

If you think tax is a solution to problems, if not just your wish to use it as a tool of revenge, then come to Europe where suicide socialism now consumes up to 60% of national GDP. Tax has really 'solved' the economic problems here, another 2% out of GDP and i'm sure we'll all turn the corner from stagnant bankrupt zombie economies!

Sun, 04/10/2011 - 12:06 | 1154946 downwiththebanks
downwiththebanks's picture

If they're broke, why can they buy/sell/trade $1 quadrillion (that's = 1,000 Trillion) 'worth' of 'assets' every day?

If you're not going to shut down the insolvent TBTF, the least we can do is tax them on their turnover.

I pay taxes when I buy staples to live - why should they be absolved of paying taxes for their turnover?

Sat, 04/09/2011 - 17:38 | 1153881 Landrew
Landrew's picture

Are you twelve? I don't want to live in You're country! My country is educated with an environment that is healthy, a workforce that is building the high value added goods and services. Your country is a country of ignorant slaves to low wage jobs without a future, where people (that don't include you) are secluded behind fences with bodyguards. I laugh when I hear people from the bottom talk like they are different than the people that surround them. You wouldn't be here if you were one of the lucky sperm club trust fund babies. The country you describe is a failed country without of future competing to be the bottom fucked of the world. I will take my research/education and income to a better country than you describe. No thanks to your dark and dirty world of failure.

Sat, 04/09/2011 - 21:49 | 1154220 pods
pods's picture

Does your country issue debt at interest?

Then you are merely at a different point on the same timeline.

pods

Sun, 04/10/2011 - 00:41 | 1154444 Manthong
Manthong's picture

My country issues bonds with negative yields called FRNs.

Sat, 04/09/2011 - 12:56 | 1153356 bruiserND
bruiserND's picture

You have it exactly right. I wonder why some dip shit flagged it as "junk"

 

One of my big time gurus is Davis from Hinde Capital in London. Metals exchange is there.Davis is a genius who writes very occasionaly. Davis said in mid October ,that the key to the global financial melt down was Japan and their bond market. He had no way of knowing then about the earthquake or the nuclear reactor. I alerted Tyler Durden at Zero Hedge of the article & they printed it. Demanded credit at ZH and BruiserND got the "hat tip" http://www.zerohedge.com/article/hinde-capital-chinas-stealthy-enforcement-gold-standard-and-wholesale-currency-dumping   He said just recently { week or 2 ago} that if gold went through 1,440 it was a moon shot to 1,800. Todays chart makes him look very smart.   Buy guns, food, ammo and physical gasoline, heating oil, propane , diesel now. Buy gold on the Labor Day pull back after it prints $1,800
Sat, 04/09/2011 - 13:05 | 1153373 smlbizman
smlbizman's picture

only in d.c, not spending as much is a cut....

Sat, 04/09/2011 - 13:45 | 1153458 Careless Whisper
Careless Whisper's picture

Instead of an annual deficit of $1,600,000,000,000 it will be only $1,562,000,000,000

everything's fine. move along.

Sun, 04/10/2011 - 09:08 | 1154728 downwiththebanks
downwiththebanks's picture

Deficit to whom?  

Lots of people holding US debt are free to go fuck themselves.

The banker-gangsters, for example, are perfectly free to do so rather than holding out in expectation of ever getting paid.

Sat, 04/09/2011 - 13:57 | 1153480 covert
covert's picture

let the govt fail. it's the best public service.

http://covert2.wordpress.com

 

Sun, 04/10/2011 - 09:07 | 1154730 downwiththebanks
downwiththebanks's picture

Apartheid Israel attacks Iran before that happens.

If the deck is going to be reshuffled, Uncle Sam would rather have a world war than any other option.

Sat, 04/09/2011 - 20:42 | 1154102 Mentaliusanything
Mentaliusanything's picture

You don't understand how it all works on a personal level.

It was a soap opera - The Senators look at each other beating their breasts but in the end if it wasn't passed they would not get their housing paid, their expenses paid for and OH MY GOD I won't get a Pay Check.

BLah Blah Blah - Self interest is the only Horse you back in the race of life. WINNER.. Ding... Ding... Ding.

DONE

 

Sat, 04/09/2011 - 11:57 | 1153253 Don Birnam
Don Birnam's picture

"We averted a shutdown. But why am I still crying ?"

http://a.abcnews.com/images/Blotter/gty_john_boehner_cry_baby_jp_110406_...

Sat, 04/09/2011 - 20:45 | 1154107 Mentaliusanything
Mentaliusanything's picture

Don't know much about him but I have a strong suspicion he loves his country and has stared into the abyss and seen enough to make him cry.

Sat, 04/09/2011 - 12:03 | 1153258 tallen
tallen's picture

I wonder what crazy number they'll put the number up to next. I bet Bernie Madoff is fed up, his ponzi scheme is nothing compared with that of the global economy.

Bought another 6KG of silver last week. I wonder what silver will be at the end of this week! JPM must be getting hit hard right about now.

Sat, 04/09/2011 - 12:07 | 1153272 breezer1
breezer1's picture

they just need to print some more silly....

Sat, 04/09/2011 - 12:40 | 1153321 FreedomGuy
FreedomGuy's picture

I'm with you, dude. I am going to see about purchasing monthly. My first large purchase from last year has almost doubled. While I feel good about that I am actually sad for the reasons it is doubling. Let's all take physical or at least allocated deliveries and see if we can get the true price.

Sat, 04/09/2011 - 11:59 | 1153259 Traianus Augustus
Traianus Augustus's picture

This is obama's greatest victory.  Chalk up one for the people.  Now he and his elite bosses can go on raping the rest of the country.

Sat, 04/09/2011 - 12:05 | 1153266 breezer1
breezer1's picture

its about time the poor, elderly and sick paid. they have been living high on the hog for far too long. let them all join the armed forces or get jobs in washington.

Sat, 04/09/2011 - 12:33 | 1153305 Prof Gulliver
Prof Gulliver's picture

Absolutely. And there's a lot of cleanup jobs available in Japan. Dimon is right: They should all stop their whining.   

Sat, 04/09/2011 - 13:12 | 1153392 Buckaroo Banzai
Buckaroo Banzai's picture

Well, the problem is, they ARE going to pay, sooner or later. The spending has outstripped the ability for even "the wealthy" to pay for it, even if you took every cent they made.

Sat, 04/09/2011 - 13:40 | 1153440 rwe2late
rwe2late's picture

 The "deficit" is ended by

1) halting the trillions dollar bankster ripoffs

2) drastically cutting military spending (including Homeland insecurity)

3) stopping the subsidies for the health insurance and pharmaceutical industries

4) ending drug Prohibition,  and the mass incarcerations which only foster crime and unemployability (here and abroad).

5) adopting a sane immigration policy coupled with a sane trade policy that would not engender poverty and autocratic oligarchies in neighboring countries.

 - It is myopic to look at what is "unaffordable" only within the context of continuing the present irrational policies and wealth disparities.

Sat, 04/09/2011 - 17:50 | 1153888 Landrew
Landrew's picture

My friend! I will gladly live in the country you describe:) This we can achieve with time and effort.

Why people think education is a waste of money is beyond me. I don't see the rest of the world striving for more war, less education, and a greater failure of an energy policy ha!

Count me in, may I write you in for November elections?

Sun, 04/10/2011 - 09:13 | 1154735 downwiththebanks
downwiththebanks's picture

TAX DERIVATIVES.

$1,000,000,000,000,000/day in turnover, TOTALLY untaxed.  Yet I pay tax on corn flakes and peanut butter.

A 1% banker-gangster turnover tax puts $1 trillion into government coffers in one day.

Sat, 04/09/2011 - 13:19 | 1153411 duncecap rack
duncecap rack's picture

Bring on the welfare queen videos!

Sat, 04/09/2011 - 12:04 | 1153267 King_of_simpletons
King_of_simpletons's picture

The whole thing was a fucking drama orchestrated by morons in DC of both parties. Any one here believe a shutdown would have happened with the current breed of crooks there ?

Pure and simple theatrics for the sheep on main street.

Sat, 04/09/2011 - 12:26 | 1153297 Bananamerican
Bananamerican's picture

well, they do say (correctly) that "politics is show business for ugly people"

Sat, 04/09/2011 - 13:25 | 1153425 Oh regional Indian
Oh regional Indian's picture

Well quoted Bananamerican. And to your point, note that the pivot point, the axis mundi, the locus of the focus was funding cancellation for Planned Parenthood.

Yee Haw, rust belt Ommer Rika (Last Reich in norse), feels Win-dick-ate-id! 

Surely this drama looked well-planned (parenthood not!!!).

Strange days.

ORI

http://aadivaahan.wordpress.com/2011/04/09/crashing-stars-they-were-but-chimeras/

Sat, 04/09/2011 - 14:22 | 1153539 Rodent Freikorps
Rodent Freikorps's picture

"In April, the annual report of Planned Parenthood Federation of America revealed that the abortion giant had a total income of $1.02 billion—with reported profits of nearly $115 million. Taxpayers kick in more than $336 million worth of government grants and contracts at both the state and federal levels. That’s a third of Planned Parenthood’s budget.

And what market-distorting results do we get for those government incentives? 289,650 abortions in 2006."

http://michellemalkin.com/2008/06/04/planned-parenthoods-obscene-profits/

And they qualify as a non-profit in the US.

 

Sat, 04/09/2011 - 15:25 | 1153667 DoChenRollingBearing
DoChenRollingBearing's picture

$115 million profit / 289,650 abortions = $397 profit for Planned Parenthood per abortion performed in the United States.

Math.

Sun, 04/10/2011 - 00:12 | 1154401 SheHunter
SheHunter's picture

Take it out on planned parenthood perhaps but do not take it out on my many sisters who choose abortion over unwanted pregnancy.  Back off men.   You should have no, none, not any say whatsoever in this issue.  Done.

Sun, 04/10/2011 - 08:43 | 1154708 Green Leader
Green Leader's picture

It is known in USA Christian internet forums that the Great Nation has been sentenced to death by the Creator of the Universe. Revelations mention defeat by Russia and China. Abortions are a big part of the charges against USA.

 

Sat, 04/09/2011 - 12:05 | 1153269 PolishErick
PolishErick's picture

Im wondering, will this whole fiscal pretend game just keep going on forever or are we going to see some big cracks in the facade and barricades on the streets of manhattan?

Sat, 04/09/2011 - 12:42 | 1153330 ebworthen
ebworthen's picture

Riots only when the bread and circuses, literal and figurative, stop.

Sat, 04/09/2011 - 13:34 | 1153436 Smiley
Smiley's picture

As soon as enough crack show through a BIG war will break out.  Start WWIII or have the entire global economy collapse; which do you think TPTB will choose?

Sat, 04/09/2011 - 16:16 | 1153742 Zero Govt
Zero Govt's picture

when the economy tanks that's when you'll see real people riot (not these over-fed public sector layabouts), currency collapse and Govt sink down the sewer (i for one can't wait:)

all Revolutions and fundamental social change occurs at rock bottom in the economy, that's when it'll all kick off (check the history books)

...for our pages in the history books we'll be warming up nicely in 2012 and 2013 and by 2014-2017 is when the 'party' really begins: so time to be nicely prepared, get a shopping list and sharpen your pitchforks

Sat, 04/09/2011 - 17:57 | 1153895 Landrew
Landrew's picture

Love to see your dumb-ass in a classroom teaching for just one week. Layabouts ha! I smell your parents basement in the room.

Sat, 04/09/2011 - 21:09 | 1154155 PolishErick
PolishErick's picture

WWIII is a no winner for everyone- even if the heat, the blast or the firestorm wont get'ya the fallout will :)

I think they want to see the chinese model all over, or some kind of neo feudalism... But their machine is way beond their controll and it will be far too late when they realize that. Nooses will be tied and sliped around lots of necks, but I think the chaos it (total economic meltdown) will all bring about might blast us back into the dark ages...

Sun, 04/10/2011 - 08:58 | 1154721 Green Leader
Green Leader's picture

That's the Satanic plan--to create such chaos and supply lines/monetary disruption so as to bring the Antichrist/Beast regime.

I am preparing to live like an Amish but with a few more conveniences, like a diesel roto-tiller & pick-up truck, solar panels, HAM radios and LED lights.

This next war will see massive employment of Bioweapons, Scalar and EMP weaponry all over the place, more so than nuclear. We can expect entire northern cities abandoned in the middle of the winter after an EMP blast. There will be refugees wandering from place to place.

 

 

 

Sat, 04/09/2011 - 12:06 | 1153270 arkel
arkel's picture

"the hike of the debt ceiling. Look for much sound and fury on that issue too, which ultimately result in up to a $3+ billion hike to the ceiling, enough to carry America through to after the presidential election."

Maybe back in 1890...

Sat, 04/09/2011 - 13:01 | 1153372 Quinvarius
Quinvarius's picture

I suspect that was supposed to be trillion and not billion.

Sat, 04/09/2011 - 15:46 | 1153704 buzlightening
buzlightening's picture

LOL arkel! Reading the whole article you know the misprint but you handled it humorously!! Enjoyed! Well done!

Sat, 04/09/2011 - 12:09 | 1153274 bankonzhongguo
bankonzhongguo's picture

Just cut everything by 30%.

The entire country (meaning real people that really work for a living) took that haircut, might as well roll back federal wages and expenditures.  Start with the Postal Office - 6 days a week to deliver junk mail. Or cruise missiles at $500,000 a pop.

Wait a minute.

Hey this Keynesian thing is pretty hard to stop isn't it.

Sat, 04/09/2011 - 12:24 | 1153295 Problem Is
Problem Is's picture

Cut the Bernank and the Fed 100%....

Ban Monetarism
Outlaw fractional reserve counterfeiting and return to sound debt free money...

Sat, 04/09/2011 - 12:18 | 1153280 High Plains Drifter
High Plains Drifter's picture

John Boehner sighned his own political death warrant....

Sat, 04/09/2011 - 12:32 | 1153307 Crassus
Crassus's picture

Boehner will survive. He's a shape shifter. It's the Tea Party that is endangered. The Koch brothers and Karl Rove will have to come up with another grass roots movement of common folk who are outraged at the abuse and mistreatment of billionaires.

Sat, 04/09/2011 - 12:53 | 1153354 FreedomGuy
FreedomGuy's picture

You are a moron and you obviously don't know much about Tea Party members. Karl Rove is generally treated with suspicion by Tea Party members as he's considered an insider and an architect of the G. Bush years big spending.

 

Sat, 04/09/2011 - 13:12 | 1153389 Crassus
Crassus's picture

And the Tea Party movement began during the Bush administration?

Sat, 04/09/2011 - 13:23 | 1153415 FreedomGuy
FreedomGuy's picture

A good question. The answer is actually, "Yes." The foundations, frustration and fraternization (I enjoy alliteration) required for it started during the last term. It blossomed under the Obama administration as things went over the top. You don't really think that all that energy and frustration happened over a weekend, do you? Not from middle class people. These were not and are not organized union thugs, brainless college students and unemployed hired protesters. They are also rather unorganized but united generally by their frustration and sense that things are going the wrong way regardless of party.

Sat, 04/09/2011 - 13:25 | 1153420 Josh Randall
Josh Randall's picture

It was a Ron Paul movement of anti-war Dems, Libertarians, and anti-Federal Reserve true sound money fiscal conservatives. The co-op job of the Dick Armey and his GOP operatives has skewed things a bit. But if you are a common man or woman of voting age and are anti-war, anti-Fed, and favor States rights, then you are by original design a true Tea Party-er. So Party On Garth! 

Sat, 04/09/2011 - 13:59 | 1153488 flattrader
flattrader's picture

You don't even know who the people behind the curtain are, do you?

Sat, 04/09/2011 - 13:30 | 1153416 flattrader
flattrader's picture

>>>It's the Tea Party that is endangered. The Koch brothers and Karl Rove will have to come up with another grass roots movement of common folk who are outraged at the abuse and mistreatment of billionaires.<<<

Yes, exactly.

But, it will be difficult for the Kochs and Rove to find anybody with the time.  Suddenly the "common folk" will find themselves having to take care of live-in Granny because her Soc. Sec., and/or Medicare, Medicaid got cut.

It's hard to be a political activist when you have to clean up the poop yourself.

The "common folk" will be sorry they screamed "Death Panels" and wouldn't let Granny have a one on one consult with her doctor to discuss an advanced directive and end of life issues.

They'll want to pull the plug themselves.

Blow back is a bitch.

Sat, 04/09/2011 - 13:38 | 1153445 Smiley
Smiley's picture

Bohner is Just another replaceable liar...

Sat, 04/09/2011 - 12:21 | 1153281 Problem Is
Problem Is's picture

Useful Idiots...
Political theater like Big Time Wrestling. Look over here at this pointless bullshit... not over here at Wall Street criminal looting and massive rip-off bankster bailouts...

John Bone-her will slap on the Orange-Man-Tan and go toe to toe with the Spineless Hairy Reid...

I am waiting for the Palin McMILF vs. Michele "Stepford Wife" Bachmann wet tee-shirt grudge match...

Sat, 04/09/2011 - 12:55 | 1153357 FreedomGuy
FreedomGuy's picture

Good points but the problem starts with Congress and its unending limitless spending. The Fed is the enabler. They are partners in crime. Frankly, the people you parody are the most likely to tackle the beast...even if unsuccessfully.

Sat, 04/09/2011 - 15:33 | 1153683 DoChenRollingBearing
DoChenRollingBearing's picture

Yes.  We elected Congress (as a whole), so it is OUR fault too.

Yes, Fed is the enabler.

Yes, the Tea Party types are the ones most likely to cut spending.

Sat, 04/09/2011 - 13:27 | 1153361 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And last but not least, Hill and Nancy battle to see who can inject the most botox into their faces.

Sat, 04/09/2011 - 15:33 | 1153685 DoChenRollingBearing
DoChenRollingBearing's picture

Ah, levity at last.

Mr Lennon, helping ZH keeping it real, for..., uh,... whatever years!

Sat, 04/09/2011 - 12:23 | 1153291 cgbspender
cgbspender's picture

Oh well, just expediting the collapse to come...

Sat, 04/09/2011 - 12:24 | 1153294 Misean
Misean's picture

Hmmmm, doubt I would have noticed one way or another, as I don't read or listen to MSM anymore. Amazing how non-impactful any of this theater is when you don't pay attention to it.

We have status quo ante...

Sat, 04/09/2011 - 12:25 | 1153300 Problem Is
Problem Is's picture

+11111

Sat, 04/09/2011 - 12:26 | 1153298 Straykitty
Straykitty's picture

Watching this slide into collapse is so difficult.  I grew up during World War II, and we all had our little savings books which accumulated their entries only by sacrificing something.

The innocence of those Silent Ones is now heartbreaking.  Their sin?  They trusted.  Let that be a lesson to us all.

Sat, 04/09/2011 - 12:27 | 1153302 Ayn Rand
Ayn Rand's picture

Do not raise the debt ceiling....................

Sat, 04/09/2011 - 12:32 | 1153308 oogs66
oogs66's picture

Friday was like watching the first game of an NCAA double header, where the outcome is already decided and all anyone wants is for the second game to start.  But for some reason, the coaches decide to draw out the inevitable by calling a myriad of time-outs and fouling and drawing the game on forever when even the mom's of the losing team already know its futile.  This was just pointless going through the motions, when as ZH has said all along, that they would come to some resolution.  I think all they managed to do was annoy the populace.  They certainly aren't getting the adoration, they shockingly, seem to expect!

Sat, 04/09/2011 - 12:36 | 1153313 ebworthen
ebworthen's picture

It was embarrassing to watch on CSPAN, truly embarrasing.

Compared to British Parliament, the U.S. Legislature is a much lower grade of theater.

Sat, 04/09/2011 - 12:47 | 1153335 AG BCN
AG BCN's picture

I agree, the US has become an embarrassment.

I have no problem with the average US citizen, but when there is the potential of a hamburger eating, uneducated

TSA employee giving me a rub down then I would rather avoid the place.

I have no intentions of visiting ever again.

Sat, 04/09/2011 - 13:24 | 1153421 Smiley
Smiley's picture

And these are the people who want to dictate public education policies.

Sat, 04/09/2011 - 12:44 | 1153323 Dr. Porkchop
Dr. Porkchop's picture

No defense cutting of course.. you have to make sure the military industrial complex gets its welfare check. Gotta keep the eternal state of war going. I wonder what the soldiers think over in Afghanistan, knowing that their war is yesterday's news. Knowing that they've been fighting the imperial war for no reason.

Sat, 04/09/2011 - 14:04 | 1153433 flattrader
flattrader's picture

Our soldiers will be happy to know that Congressman Paul Ryan refuses to cut tax breaks for wealthy oil companies which are on track for a record year of profits.

Our guys and gals in uniform may not be able to afford a gallon of gas and if they are disabled and homeless may find that the housing voucher program for vets has been cut, but hey, what's really important is this:

http://www.mediaite.com/tv/gma-takes-on-tea-party-darlings-on-the-dole/


Sun, 04/10/2011 - 00:16 | 1154407 SheHunter
SheHunter's picture

Amazing that even on ZH you are not allowed to infer even the slightest disrespect for the "our holy troop" mantra.  Gag.  We are a MIC society brainwashed that it is taboo to question our holy troops. double gag.

Sun, 04/10/2011 - 04:08 | 1154581 saulysw
saulysw's picture

And who are they fighting, exactly?

Sun, 04/10/2011 - 09:16 | 1154738 downwiththebanks
downwiththebanks's picture

Keep sending those welfare checks to Apartheid Israel, too.

There are Palestinian babies who need to learn lessons that come from 20,000 feet up.

Sat, 04/09/2011 - 12:40 | 1153324 Josh Randall
Josh Randall's picture

The 900 lb Gorilla in the room is the unauthorized use of force in Libya, as the impeachment articles circulate it looks like Oprah is throwing Soetero's carcass under the bus already.

Coupled with Trump being allowed to go on mainstream media and tout the Truther revelations, me thinks this may be the mechanism the Elite's use to finally sacrifice Barry, cut all government aid to States, zero out aid to the poor & the Elderly, and foster a long hot summer of revolts by unemployed government dependent hungry mouths. Death in the streets is in the cards in the run up to 2012 if the elites have their way. Their scapegoats are in place

 

Sat, 04/09/2011 - 12:48 | 1153340 Holodomor2012
Holodomor2012's picture

Is that really the gorilla in the room.  Or is it this:  http://ehpg.wordpress.com/

Sat, 04/09/2011 - 12:51 | 1153345 Hedgetard55
Hedgetard55's picture

Just my opinion: you are either a Truther or you have been pwned by Cool Barry and his peeps.

Sat, 04/09/2011 - 13:11 | 1153384 Josh Randall
Josh Randall's picture

Speak English 'tard it's easier to have discourse that way

Sat, 04/09/2011 - 13:22 | 1153413 Hedgetard55
Hedgetard55's picture

Josh,

 

My bad! The "you" was the generic you, not you personally. I meant to say one is either a Truther (like me) and knows there is no certified birth certificate, OR one has swallowed the lies of the Obama people, that he is legit.

 

Savvy?

Sat, 04/09/2011 - 13:27 | 1153424 Josh Randall
Josh Randall's picture

Roger - count me in the Emperor has no clothes or certificate from the USofA column

Sat, 04/09/2011 - 13:34 | 1153437 Hedgetard55
Hedgetard55's picture

Josh,

 

     I meant to say "Birther" not "Truther". My bad again. I am not a Truther, but a Birther.  :~)

Sat, 04/09/2011 - 12:56 | 1153352 AN0NYM0US
AN0NYM0US's picture

the birther thing is a brilliant trap set by the dems and Trump walked right into it.  At the appropriate moment should it gain traction the official documents will suddenly be produced discrediting any and all who lent their name to the birther movement.  As for last night it was a lose lose all around but the repubs showed their spine to be made of mush.  TD is correct it will take the Bond Vigilantes to set their sights on America and that will be long after November 2012. But fear not Soros as he meets at Bretton Woods is fulfilling the role F.A. Vanderlip to a tee such that the Vigilantes may never get their chance.

Sat, 04/09/2011 - 13:05 | 1153378 Hedgetard55
Hedgetard55's picture

See what I mean? You have swallowed that "brilliant trap" line, just like they hoped. Even Rush Limbaugh has been played by the same idea.

Sat, 04/09/2011 - 13:41 | 1153398 Josh Randall
Josh Randall's picture

The guy is an Operative, and the Libya fiasco can be his undoing aside form any Birth Certificate. The kid's lemonade stand is ripe for kicking over, watch Kusinich, if he backs an Impeachment article then you know it's going to play out the way I said. But I'm not the burning bush - just tryin to read tea leaves and offer possible topics for discussion

Sat, 04/09/2011 - 14:56 | 1153608 AN0NYM0US
AN0NYM0US's picture

you out skepted me I never thought of a triple reverse psyop strategy - still a dangerous path to go down when there are so many bigger fish to fry

Sat, 04/09/2011 - 13:40 | 1153452 flattrader
flattrader's picture

Birther issue is a "Rope a Dope" strategy.

Sun, 04/10/2011 - 00:23 | 1154418 SheHunter
SheHunter's picture

Anonymous:  I have long thought the same.  The wild-eyed birther zealots are being nurtured and encouraged to multiply so that weeks (days?) prior to the next election an impenetrable birth certificate vouched for by the FBI/CIA eey-i-eey-i-o is produced.  That will be me you hear laughing at the resulting theatre.

Sat, 04/09/2011 - 12:43 | 1153327 AmazingLarry
AmazingLarry's picture

 

Ohbummer: "I will cut the deficit in half!"

http://en.wikipedia.org/wiki/File:Deficits_vs._Debt_Increases_-_2009.png

Fail

 

Sat, 04/09/2011 - 13:03 | 1153367 Zero Govt
Zero Govt's picture

...and Obummas new Committee for Fiscal Responsibility - another FAIL

Washingtons combined intellect is a brain no bigger than a peanut ....i'm not sure Geithner is even capable of thinking given his bankrupt budget proposals he admits himself are "unsustainable"

Sat, 04/09/2011 - 12:44 | 1153328 Yardfarmer
Yardfarmer's picture

the American political theater Punch and Judy show exemplifies the great and yawning abyss between perception and reality that has characterized the reigning national socio-economic paradigm for decades. one has to begin wondering when the national psychosis will reach the operant state of actual breakdown and collapse which is of course the next stage of our chronic mental dissociation. the parallels with Weimar Germany are becoming absolutely nightmarish. 

Sat, 04/09/2011 - 12:48 | 1153339 ebworthen
ebworthen's picture

Exactly.

Sat, 04/09/2011 - 12:49 | 1153342 Holodomor2012
Holodomor2012's picture

Let's just hope those parallels continue.

Sat, 04/09/2011 - 12:55 | 1153358 Dr. Porkchop
Dr. Porkchop's picture

The problem is that no politician wants to make decline a part of their platform. They will never tell the truth, even if they really want to. The other part of the problem is that most people don't want to know the truth either. They want to be lied to, so that they can continue getting out of bed in the morning and believing that things will always continue on they way they were, that good times are just around the corner.

Sat, 04/09/2011 - 13:07 | 1153377 Zero Govt
Zero Govt's picture

"..politician ..will never tell the truth, even if they really want to."

presumably they're lying through their teeth forced against their will and against all their good principles??

Sat, 04/09/2011 - 15:35 | 1153688 Dr. Porkchop
Dr. Porkchop's picture

I was trying to be kind and assume that one or two came in with good intentions.

Sat, 04/09/2011 - 15:58 | 1153713 Zero Govt
Zero Govt's picture

Dr Porkchop

What "came in with good intentions" would that be?

Politicians come in bankrolled with a vast cackle of feeding jackals (vested interests). Without these parasites money their election campaign wouldn't even begin. Obummas' campaign funding was the biggest in history, you can expect the most corrupt Presidency in history to pay back these parasites feeding at the trough of US taxpayers which is Govts primary power (to tax society)

if we're looking for good men with good intentions 'democratic Govt' is the most rotten and unlikely system ever devised to find them ...better chance finding a virgin in a whore house!

Sat, 04/09/2011 - 15:07 | 1153630 Saxxon
Saxxon's picture

Yes Dr. Porkchop. For those inclined to literature, I recommend Robinson Jeffers, two poems coming into mind: Cassandra and Be Angry at the Sun.

Of course the ultimate prophetic poem of the last century was The Second Coming by Yeats.

Also, read Hemingway's journalistic work and letters from the 1930's; he was surprisingly prescient.

Sat, 04/09/2011 - 16:33 | 1153786 Bananamerican
Bananamerican's picture

the cold passion for truth
Hunts in no pack.

Sat, 04/09/2011 - 20:51 | 1154120 Landrew
Landrew's picture

Let boys want pleasure, and men
Struggle for power, and women perhaps for fame,
And the servile to serve a Leader and the dupes to be duped.
Yours is not theirs.
Love how simple and complex the poems are.

People want to do away with education and the arts. After reading any of Jeffers poems these people would embrace the arts. Not all literature is readable, however, one gem is worth all the time and expense.

Sat, 04/09/2011 - 20:39 | 1154087 Landrew
Landrew's picture

I have not read Hemingway's early work, nor Jeffers poems. Thanks for the tip, a good read frees the mind of a sometimes illogical world:)

Sat, 04/09/2011 - 12:43 | 1153331 Drag Racer
Drag Racer's picture

I swear I blew chunks after forcing myself to listen to the O'broke dribble.

http://www.youtube.com/watch?v=jxWEeIaOOHs&feature=player_embedded

Sat, 04/09/2011 - 12:47 | 1153341 oogs66
oogs66's picture

was horrible to watch...i wish you hadn't sent the link

Sat, 04/09/2011 - 16:37 | 1153798 Hephasteus
Hephasteus's picture

I reported the video for promoting hatred because sociopaths all promote hatred and disgust.

Sat, 04/09/2011 - 19:53 | 1154034 Mentaliusanything
Mentaliusanything's picture

"the biggest annual spending cuts in History" Blah Blah Blah- @ less than 2 % - Now that's Hope and change that has me Laughing my Ass off..

This is real, this is the way we go, laughing in the face of total bankrupcy. The infrustucture of the US will rust away before proper reform will be forced on this ship of fools

Sat, 04/09/2011 - 12:47 | 1153334 I am Jobe
I am Jobe's picture

"The more corrupt the state, the more numerous the laws." - Cornelius Tacitus (55 - 117 A.D.)

Sat, 04/09/2011 - 15:42 | 1153696 DoChenRollingBearing
DoChenRollingBearing's picture

"Prosperity rarely abides long in any one place."

Herodotus (approx. 400 BC)

Sat, 04/09/2011 - 12:53 | 1153344 linrom
linrom's picture

In the meantime, our MSM media is running stories about Americans who are getting themselves out of debt or other idiotic concepts such as reducing ones debt obligation to the banks. The goal is obviously to preach virtues of austerity and debt-enslavement.

If you are a buffoon who does not support the fair and practical solution of raising taxes on the rich, those taxes are going to become burden to you. If you don't understand that TPTB are shifting social safety nets costs onto the states where almost 100% of revenue is paid for by the lower classes, your taxes are going to skyrocket. The notion that rich pay taxes is a myth: educate yourself.

Just look at what they're doing? They invented the concept of unfounded liabilities! The unfounded liability is YOU. Get it! They understand that the ONLY solution is to increase taxes on wealth, an that is morally reprehensive to them: the rich don't pay taxes to support lower classes

Sat, 04/09/2011 - 13:26 | 1153427 Buckaroo Banzai
Buckaroo Banzai's picture

You don't understand much about income taxes. 48% of americans pay no income tax; of that 48%, a good chunk actually pay negative taxes (i.e get FREE MONEY) via the Earned Income Tax Credit.

I shouldn't have to explain to you the significance of the 48% number.

This is of course besides the real point, which is that income taxes are not consistent with the 13th Amendment which outlaws involuntary servitude. When the State gets paid first for your labor, and you get paid second, then you are-- ipso facto-- a slave to the state.

Sat, 04/09/2011 - 15:44 | 1153699 DoChenRollingBearing
DoChenRollingBearing's picture

+ 100

Sat, 04/09/2011 - 16:14 | 1153752 linrom
linrom's picture

You only show how brainwashed you are and completely fail the grasp the concept that it is wealth not income that should be taxed. The rich don't earn income.

Sat, 04/09/2011 - 18:07 | 1153910 traderjoe
traderjoe's picture

You are the brainwashed one. Why do we have debt, fractional reserve banking, and the taxes to pay for them? You are deluded into some us v them battle, but you have the wrong 'them'.

Sat, 04/09/2011 - 18:18 | 1153925 Rodent Freikorps
Rodent Freikorps's picture

Because the proles vote for socialism, and the government went hat in hand to the banks to borrow to fund it.

That is a universal trait of socialism.

The only other way to fund socialism is conquest.

Sun, 04/10/2011 - 09:17 | 1154742 downwiththebanks
downwiththebanks's picture

Capitalism is theft

Sat, 04/09/2011 - 18:19 | 1153923 NidStyles
NidStyles's picture

You should learn that money is not wealth. That would require for you to actually learn what money is though. That would be hard, because I doubt you would know what a tool is if I hit you over the head with it.

Sat, 04/09/2011 - 19:21 | 1153999 Buckaroo Banzai
Buckaroo Banzai's picture

So you want a wealth (i.e. property) tax, not an income tax?

Freedom is a three legged stool of Life, Liberty, and Property. Income taxes defeat liberty; wealth taxes defeat property.

So you are saying that you are anti-Freedom, then. You are wrong again.

Sat, 04/09/2011 - 12:52 | 1153349 Atomizer
Atomizer's picture

The Republicans played a nice trick on Democrats. Obama took the bait & is praising credit over the airwaves. Wait for the PR campaign to get derailed. J6P will become a little smarter once the trick is exposed.

Sat, 04/09/2011 - 12:56 | 1153359 AN0NYM0US
AN0NYM0US's picture

j6p has just been betrayed and he knows it

Sat, 04/09/2011 - 12:54 | 1153353 Fix It Again Timmy
Fix It Again Timmy's picture

The Beltway: Potemkin, D.C.

Sat, 04/09/2011 - 13:12 | 1153395 goldsaver
goldsaver's picture

The Beltway: Mordor on the Potomac

Sat, 04/09/2011 - 13:48 | 1153462 ebworthen
ebworthen's picture

Having lived there for 15 years and associated with it's denizens I can say you both are correct, Potemkin and Mordor, and I would add Wonderland cubed (tea anyone?).

Sat, 04/09/2011 - 13:05 | 1153362 Smiley
Smiley's picture

It's all a bunch of PR spinning pontificating bullshit.  The interest payment on the national debt is $500,000,000,000 and they want us to think they did anything of substance?  WHAT A JOKE!  We need $Trillions in cuts not this made for TV drama about fighting over chump change to keep women from wire-coat-hangering themselves!

 

They hide behind women, the elderly, and our children.  They hold the military’s pay hostage.  The current Federal government is the epitome of scrotum tucking cowardice.

Fire the Feds by the thousands; send them to the private sector so we can grind them to dust doing real work with the rest of us peasants!  Come on we got ditches to dig and shit to shovel people!  Try arguing with a real boss out here in the wastes; you will be face down tasting dust before you can say “It’s Bush’s Fault.”

Sat, 04/09/2011 - 18:22 | 1153930 NidStyles
NidStyles's picture

Hope you don't mind, I'm stealing you post for my group on Facebook. I will obviously credit you for it.

Sun, 04/10/2011 - 09:40 | 1154756 Smiley
Smiley's picture

I don't mind.  Enjoy.

Sun, 04/10/2011 - 09:43 | 1154760 downwiththebanks
downwiththebanks's picture

The private sector does real work?

Like gambling on derivatives?

Until you make the banker-gangsters pay, the problem has no solution.

Sat, 04/09/2011 - 12:59 | 1153364 aerial view
aerial view's picture

Another pitiful episode of "Kick the Can Down the Road" by our Washington cronies. What a pathetic disgrace!

Sat, 04/09/2011 - 13:01 | 1153365 Drag Racer
Drag Racer's picture

Congressman Paul returns 9% ($141,580) of his office budget to the treasury intended to go towards paying down the national debt. Now thats the right stuff...

http://paul.house.gov/index.php?option=com_content&task=view&id=1841&Ite...

Sun, 04/10/2011 - 09:19 | 1154745 downwiththebanks
downwiththebanks's picture

Always the banker-gangsters little plaything, that John Bircher ... 

Sat, 04/09/2011 - 13:02 | 1153369 Lord Peter Pipsqueak
Lord Peter Pipsqueak's picture

They talk of trillions of dollars required to balance the budget and nobody bats an eye.Trillions!!!,the politicians have lost all grasp on reality,the numbers are now so mindbogglingly massive they are meaningless,the will to stop this runaway train has gone.Anyone who comes up with a solution will be marginalised,the necessary cuts will be considered politically unacceptable for different reasons to both parties,thus ensuring the final financial collapse.

 

Sat, 04/09/2011 - 13:07 | 1153376 Die Weiße Rose
Die Weiße Rose's picture

Like i said,

I will hurt, when Austerity finally bites the US in the A !

but bite it will, sooner or later, in some way or other,

be it inflation, higher taxes, harsher entitlement-cuts, deep budget-cuts,

government spending-cuts, more devaluation of the USD,

increased Inflation, higher Interest rates on 14 trillion national debt,

higher Debt repayments, Muni-Bonds and state governments in trouble

with little funds for public spending on essentials and infrastructure etc...

Europe , Asia had already had to raise Interest rates and there is more to come.

Rates in Australia are 5.64% on the 10 year bond and the 3 month bond rate is 4.75% and Food and Energy is going through the roof with Gasoline at US $1.40 a litre or about US $6 per Gallon.

These are the signs of things to come for the USA.

The longer the US kicks the can down the road,

the harder the cut-backs and Austerity measures will get.

And there is not really anything more,the US Government,the FED

Tim Geitner or even Bernanke can do about it !

With the US Dollar severely devalued, sooner or later imports into the US will become ever more expensive:Oil, Gas, Commodities, Energy, Food-costs and Living-expenses will all rise more and People in the US will start feeling the pinch

of what Austerity really means.

 

Sat, 04/09/2011 - 13:19 | 1153402 digalert
digalert's picture

With rolled sleeves and sweat on his brow, Barama singlehanded, saved the US and ultimately the world from those evil spenders.

Sat, 04/09/2011 - 13:19 | 1153410 Drag Racer
Drag Racer's picture

I was looking for the specifics on the budget agreement but have not found anything yet. Is it even released yet??

I did run across some 'almost' good news. The bill to repeal the $600 1099 crap has passed both houses.

http://thomas.loc.gov/cgi-bin/query/D?c112:5:./temp/~c112tZFaJI::

Sat, 04/09/2011 - 13:44 | 1153456 Die Weiße Rose
Die Weiße Rose's picture

They have not agreed yet -

they just post-poned a shut-down for another week to April 14:

from Bloomberg:

The Senate and the House of Representatives quickly passed a temporary measure that makes $2 billion of the agreed-upon cuts and keeps the government open through April 14 while they work on a longer-term agreement to fund the government through the Sept. 30 close of the current fiscal year. Both chambers will vote on that measure next week.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=a7U0Ecjh4kMs&pos=8

Sat, 04/09/2011 - 13:27 | 1153426 Sudden Debt
Sudden Debt's picture

So how much money will be printed?

And if they bail out the governement itself, will the muncipals also be bailed out?

 

 

Sat, 04/09/2011 - 13:48 | 1153465 rwe2late
rwe2late's picture

 They will print as much as it takes to inflate their way out of deficit (while staying indebted to the financial syndicate).

Fortunately, wages and pensions will not keep pace with inflation lest we have the dreaded wage-price spiral. 

;-)

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