The Latest News On The United States Of Welfare And Hand Outs

Tyler Durden's picture

The latest from Reuters, on the late news that Obama will both extend Unemployment Insurance for 13 months, and extend the Bush tax cuts for 2 years:

  • Obama: has reached a framework for compromise with Republicans to extend all Bush tax cuts for two years
  • Obama: compromise also calls for extending jobless benefits for 13 months, and calls for 2% payroll tax cuts next year, and for extension of estate tax
  • Obama: says compromise is an essential step on the road to economic recovery
  • Obama: he is confident that Congress will ultimately ‘do the right thing’

We just hope that the prostituting administration will finally float the one proposal we have all been waiting for: free blow jobs for everyone in
perpetuity, funded by the Federal Reserve's monetization of the Sinking
Hooker fund.

In the meantime, we present that one metric which is now completely and totally irrelevant: the US debt, which is at $14,833,512,000,000. It is also just $513 billion away from the debt ceiling. We expect with the new spending spree, Fed monetization or not, that the debt ceiling will be breached in February. And, just as both Republicans and Democrats forgot that the angry US public does not want any more irresponsible spending, and will get rid of all incumbents, so the debate over the debt ceiling will pass in under a day's debate. Next debt ceiling: infinite.

In the meantime, the futures indicate that this news has been largely priced in, and in fact the AUDJPY may soon drag the ES lower.

 

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David99's picture
Both Obama & Ben can't be trusted for any thing. They both pledge & speak something and do the opposite.
Better admit them in the nearest mental hospital.
Americans, your future is sooooooooo bright"
caconhma's picture

The American leadership, regardless of political parties, is totally intellectually bankrupt.

These fking idiots seriously think that, by manipulating a tax structure and printing more and more fiat money, they will be capable of miraculously reviving America's might and prosperity. WOW!

The Rubicon has been crossed. The American Empire supported by its British bulldog are in a fking retreat. The only savor America can hope for is another Pinochet or Franco but it is not a very high probability event.

mikla's picture

Yes, the Rubicon was waaaaaay back there.

IMHO, there's no "saving" it.  We merely hope-and-pray for a good result from the restructuring that is imminent, post-sovereign US default.  Of course, that depends a *lot* on the dynamics and premise surrounding the re-establishment of a Federal Government after previous Federal collapse.

They both pledge & speak something and do the opposite.

True.  It is only frustrating if you thought those would be consistent (what is said, and what is done).

In contrast, literally, Ben's job (and most politician's job), is to lie:  To say things (convincingly) that they know to not be true.

In this case, Ben is the illusionist performing operations with one hand while distracting with the other.  Ben will be less effective if people actually understand what he is intending to do.  Literally, his job is to lie-and-distract (easily demonstrable even from the mere Ben Congressional Testimony).

And, for the politician, it's simpler:  Say one thing (to make some happy), and do the other (to make a different group happy), so the politician can rationalize to all voters that he's "for them".  Since most politicians don't know which group will shout the loudest, it is best to have "backup plans" for all groups.

AnAnonymous's picture

These fking idiots seriously think that, by manipulating a tax structure and printing more and more fiat money, they will be capable of miraculously reviving America's might and prosperity. WOW!

 

Prosperity is limited by the environment so you have a point there. But definitively, it is a statement of might.

It is tough times around the world and the US citizens are voting themselves tax relief, with the known debt issue they are in.

In a nutshell, US citizens are sacrifying people all over the world to maintain their standard of life. How is it not  a statement of might?

Even better, they will keep affording the luxury of denying that they succeed through extortion of the weak and farming of the poor. Notice the difference between nobles of past times who assumed their actions as they acted the same, fleecing people under them in times of dureness to keep their standard of life. But nobles in old times admitted they were in this kind of business. The US, no. The US is saving the world.

Check for the new math in here: an economic recession /depression, tax holidays, tax cuts will mean more US hard earned tax money sent all around the world to bail out people everywhere. A mantra in here.

Phineas Gage's picture

I suggest that you research (or experience) the concepts of pot-committed or all-in in poker.  Do you really believe that it ended before today, or that it will end after?  If you've committed more than $3TT, why note more?  Then why note more after?

The only way it ends is through a true limiting factor, some real constraint - no chips, currency crisis, hyperinflation...

Cdad's picture

Simple...eventually the owners of the money that you are pissing away show up and rectify the sitaution.

You don't read much ZH, do you? 

Al Gorerhythm's picture

Both Ben and Barry are confident that there is only good times ahead and that congress will do the right thing. Seppuku?

max2205's picture

Food stamps EUI and blow job stamps bitcheeeez

knukles's picture

Dudes, like that is soooooo offensive, that comment about blow jobs.  Like, what is this a socialist nanny state, like I can't choose anymore?  Like Everett Dickson once said; " A blow job here and a blow job there and pretty soon you'll think you're a fucking Senator." 

StychoKiller's picture

We just hope that the prostituting administration will finally float the one proposal we have all been waiting for: free blow jobs for everyone in perpetuity, funded by the Federal Reserve's monetization of the Sinking Hooker fund.

Kick in some Peruvian marching powder and some quality smoke -- we got a deal! </sarc>

hardcleareye's picture

So if this is a socialist nanny state,  I suppose the Dem's will be in charge of this program, which means our BJ suppliers must be regulated, tested, trained and certified as safe for the public.  But suppose the GOP get this program, then surely it will be privatized (don't call me Shirley!), and then turned over to the GOP's family value department!  So we will have two choices socialized or privatized BJ's, and choice is what it is all about!

scatterbrains's picture

speaking of food and blow jobs, I kinda had the same expieriance today when Apmex delivered a big tin on Holiday popcorn on the same day Mr. Silver slipped JPM some dick.

Thanks Apmex

 

Miss Expectations's picture

Me, too.  The caramel is really good. 

Thanks Apmex.

Shameful's picture

Blow job stamps...hmmm a way to help energize a failing Nevada?

Reed going to work for his state "Come to Henderson NV! Get some head!"

Hmm seem to remember a bit about this http://www.youtube.com/watch?v=HYJCHoEDNgs

Rainman's picture

.....actually, you want to go to Parumph, 50 mile sw of Vegas, where it's all legal. Not that I know, I just heard about it from a friend of a friend.....

Amish Hacker's picture

Right, Rainman. Bambi says hello.

Jack Burns's picture

Well, politicians are known for paying lip service.

goldfish1's picture

Oh yay...how does one get laid off?

Apart from Reality's picture

As they will probably default on the Debt anyway they may as well take some more money off the rubes before the biggest Ponzi Scheme of all time finally collapses.

max2205's picture

Food stamps EUI and blow job stamps bitcheeeez

Caviar Emptor's picture

So much for GOP austerity. Guess we'll spend our way back to prosperity :) That's a plan! Gold to da moon!

nmewn's picture

111th. Congress...still.

Caviar Emptor's picture

Ya but deals were cut with Boehner

nmewn's picture

Never...ever...use the words "cut" & "Boehner" in the same sentence.

It causes significant shrinkage ;-)

Cheesy Bastard's picture

Lol.  Lorena Bobbitt!  Ouch!

Crisismode's picture

And in lieu of BJs . . . 

 . . .  what do the women get?

nmewn's picture

Whatever you want darlin...it's on the house.

And some of us still have moustaches ;-)

ColonelCooper's picture

Quote stolen from a comedian who I cannot remember the name:

I'm Italian.  When go down to eat, I plan to be there long enough I bring a bottle of wine, a loaf of bread and a big napkin.

nmewn's picture

Speaking of gorging oneself ;-)

Silver is doing a moonshot...they can't cover fast enough...ROTFLMAO!!!

hardcleareye's picture

Whoo baby..... this man is offering free moustache rides!!!!

Cheesy Bastard's picture

You get a nice discussion with a cunning linguist.

hardcleareye's picture

You boys are seriously lacking in imagination!!

Kaiser Sousa's picture

insane isnt it...now watch what happens to Gold & Silver n London and heading into NY...

if they arent attacked on news of more debt coupons created out of nothingess n order to fund this bullshit i will b shocked......

 

Clint Liquor's picture

The Captain of the Titanic orders the band to play louder as his ship sinks.

Shameful's picture

13 more months? So that's what around 3 years unemployment. Yeah that austerity is really going to crack down on us. They are just going to run the printing/ponzi engine till it hits critical mass and goes nuclear.

Wander if the Chinese response was to throw whatever was handy at their tvs on the announcement.

knukles's picture

Oh yeah. 
That game; Chopstick, toxic sludge ball, TV. 

Hoo-laa!  Chopstlik blake TeeBee.  Hee he.

karzai_luver's picture

Chicoms are happy to see this, they need something to buy and someone to sell to.

Once the time comes they call in a few trillion and own it all.

They have got to luv this,I would.

BlackSea's picture

A few trillion in notes and bills in devalued dollars???

Even the Tips should be crap since they don't account for energy or food prices.

They can call those all day, they'll be stuck with paper. But then again, the chinese should know a thing or two about paper money since they had about 20 paper inflations through their 2000 years of history of paper money.

karzai_luver's picture

Blackie- you forget the banksters- they will enforce their paper - how can you think otherwise.
When the time comes the U.S. via the IMF or some other
world organ will pay up in SDR or some other oily-bucks.

word.

bob_dabolina's picture

Yea and with all the money the FED is "digitalizing" those on EU are going to get hammered with 100+ oil and $10 happy meals.

Whatever. Slaves be slaves bitchez.

Caviar Emptor's picture

Lovin' this brand of austerity. Guess the idea is to have the fewest people possible working in the US for maximum 'productivity'. Make capital pay way more than labor, feed animal spirits, and hope the last bagholder will be some poor schmuck from overseas invested in US paper.

TheGoodDoctor's picture

No, they are extending the existing benefits for 13 months. Nothing new as far as I know.

karzai_luver's picture

They are picking up those who have or are about to fall off the teat. That's NEW spending in my world.

TheGoodDoctor's picture

It's still 99 weeks. I have not read anything beyond 99 weeks.

malek's picture

Have you taken your hopium?

TheGoodDoctor's picture

No. My thought was people were upset by 99 weeks.