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Obama's Novel Spin On M.A.D. - "Assured Self-Destruction"; President Tells Congress Not Passing Tax Deal Would End His Presidency
By now America has grown to expect that every failed negotiation by the politico-financial oligarchy always ends up with some version of the "Mutual Assured Destruction" card. And while the bankers of the world at least threaten others with total annihilation if their "much more erudite" suggestions are not adopted up by the great unwashed plebs, the president has come up with a unique spin on this worn out tactic. The Hill reports that the president has been telling members of Congress that failure to pass the tax-cut legislation could result in the end of his presidency. This begs the question: with the domestic (and global) economy in shambles, and not foundering only due to $4+ trillion in fiscal and monetary stimuli, and near-double digit unemployment, (there is, however, a silver lining - Reuters reports 2010 may be the second highest bonus payout season on Wall Street ever), whether Obama's departure would even be considered 'bad thing'...
From The Hill:
"The White House is putting on tremendous pressure making phone calls, the president is making phone calls saying this is the end of his presidency if he doesn't get this bad deal," he told CNN's Eliot Spitzer.
Obama's push shows that the president is going to the mat in order to push through Congress the compromise brokered with Republicans.
During the end of the healthcare debate, Obama reportedly told Democrats upset that the bill did not contain a public healthcare option that not passing it could put his presidency on the line and stall the liberal agenda for decades.
The White House has been aggressively selling the deal, which includes a two-year extension of all the expiring Bush tax cuts in exchange for a 13-month extension of unemployment benefits, to skeptical lawmakers and the public.
The Senate passed the $853 billion legislation by an overwhelming 81-19 margin, sending it to the House.
Though House liberals and a some conservatives have voiced opposition to the deal, some opponents have conceded that the likelihood of the deal failing at this juncture is very low.
Still, DeFazio has not been sold.
"I don't feel that way, I think this is potentially the end of his possibility of being reelected if he gets this deal and it's a trap," he said.
So here is the math: marginally higher taxes, and the potential for actual economic improvement in the future, or we keep Obama, and get $5 trillion more in cumulative deficits over the next 10 years. It sure sounds like a toss up.
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is that a promise?
That was my thought: Is that it? Does Barry just go home and forget the whole thing? That's gotta be too easy.
Yeh really--done deal!
Cool, now that would be change I could believe in!
sunny
Yep, he can leave town and I'll keep the change...
Lol, Immediately after Obama's statement there is a unanimous vote against the bill.
" Reuters reports 2010 may be the second highest bonus payout season on Wall Street ever"-ZH
It was a Happy Hannukah indeed!
Rascism has no place in a reasoned discussion, and detracts rather than adds to the content therein.
And what race celebrates Hanukkah? Last I checked, it was a celebration of a religion, not a race.
Opinions differ on that count, with the Supreme Court ruling in 1980 that Jews are in fact a race, which angered many Jews.
You deliberately miss the point financeguru: judging people primarily based on their ethnicity, religion, or race is both ignorant and inflammatory, and I'm sorry you lack the discernment to recognize that.
Look, I can agree that there is no reason to start making claims against certain races or religions. It doesn't support the topic at hand.
But I also am completely against people who pull out the race card immediatly even when it is in the wrong context. Despite what the Supreme Court ruled in 1980, people who follow a certain religion will never be a race. Just like several hundred years ago when the world was considered flat. Just because people say it is so doesn't mean it is true. If the Supreme court came out tomorrow and ruled that circus clowns were considered a race, would you suddenly believe it?
The guy who stated something about being a "happy Hanukka" didn't make any judgments about any people. He could have said its going to be a "merry christmas" and people would not have jumped on him for it. Did he incenuate that the bankers who got bonuses were jewish? Maybe, but he did not make a direct statement and definately does not deserve to get bashed as a racist when he clearly (from that statement) is not being racist.
So, with "Israhole" as his moniker, and "Israel" with a circle and a slash through it as his avatar, this is just his own unique and special way of saying "Have a happy day!"???
You stretch credulity. Stop parsing words and stand up for what is right.
I agree. Israel is a great land - a democracy of 5 million Jews that allows its 1 million Arab citizens all the rights that they could never enjoy in any other Arab country. Where but Israel can Arabs vote or hold a meaningful elective office? Saudi Arabia? No. Syria? No. Forget it. Arabs in Israel are better off than any others, yet morons want to trash the democracy that has earned more patents per capita than any other country on earth. Jesus was Jewish and the New Testament makes it very clear that God is not done with His people (although He made it very clear He did NOT choose them because they were anything special - it was just His grace). Align yourself against Israel at your own peril.
(d)
I do not see any of that in his post.
synagogue of satan babe.
http://iamthewitness.com/
any of you goyim cattle interested in the talmud?
such curiosity is punishable by death.
http://www.talmudunmasked.com/chapter15.htm
obongo's a self-chosenite too believe it or not.
http://www.henrymakow.com/is_obama_literally_americas_fi.html
so you ready for Zion Biden???
if it were i'd agree for his resignation, then again who could take take the lead except Ron Paul?
Ron Paul is a good choice, but what about these two guys:
http://www.youtube.com/watch?v=IMgyi57s-A4
(pay particular attention at 1:23)
or
http://www.youtube.com/watch?v=ufYmnD3fhfk
lol, you like Ron Paul, but you called me a hypocrite for doing the same thing he does.
Earmarks are remarkably similar to grants, in that an earmark is money that would otherwise be spent by a bureaucrat, same as grant money.
All the cognative dissonance! Better leave before your head expoldes.
I say we go with these two instead: Moose and Squirrel - oh wait, I think we have that now?
http://www.youtube.com/watch?v=vOJKzDSsG0Q
What a narcissistic drama queen!
It's all about him.
More fearmongering and threats, we are done with that after Paulson held this country hostage.
Yes. agree. Also, "stall the liberal agenda--" they live in cloud cucoo land; there is no liberal agenda; it's over, done. As Margaret Thatcher said, "the trouble with Socialism is you run out of other peoples money to spend"; and this is a fait acompli.
"What a narcissistic drama queen!"
Hey, we're not talking about Glenn Beck here...
+1
After the pasting the Dumborats took in November, Obumble thinks this is a GOOD argument with the idiots of his party?!?!?! And IF the passage is in some way due to this argument...the mind boggles.
Now THERE'S a hope for a change!
His presidency is already over he just doesn't know it yet. Bush III is history.
THANK YOU.
No-one seems to understand that Obama is Bush III. McCain would have been as well. The next guy will be the same, absent the possibility of a Ron Paul election (not outside the realm of possibility).
Even Kudlow called it that! Rather odd for Obama to agree, yes, yes? Now "onto the impossibility of the simplicity of a total and sudden collapse." Finance NEVER get's carried away with a singular thesis....
I was thinking Carter II...but no sense splitting hairs ;-)
Meanwhile, the Senate, not the House has released a gargantuan 1.1 trillion spending bill chock full of pork. The House & Senate had all year to pass a budget bill...now at the eleventh hour we find this "thing" being presented by Senator Inouye for consideration.
Eight Billion dollars worth of pork!...and I don't give a damn about 8 billion as a percentage of a trillion...it's all the crap defeated politicians wanted who won't be there for the 112th. Congress...it's ass rape!
The Food Safety Bill is stuffed in there as well for all you Farmer's Market types...the cost of this particular peice of legislation?...1.4 billion over four years.
It's kinda like the issue of taxing in this ZH post...in order to deal with 170 billion in tax cuts and however many billions in unemployment insurance extension they turn it into a trillion dollar debt bomb.
I say no on both.
Pass a continuing resolution and wait for the next Congress.
"God help me but I do love it so....
They are rapists...all of them that are in there now.
Grassley, Harkin, all the midwest cornholes put in their stupid ethanol subsidies...excellent!...let's jack up food prices & burn up some car valves in one fell swoop.
Friggin idiots.
”L’audace, l’audace, toujours l’audace !"
It's not just the cost of s-510 but the onerous record keeping and compliance for small farmers. It's meant to drive them out of business so that Monsanto, et al, controls our food source. Who do you think wrote the language?
The punishment for non-compliance is a raid, confiscation of the farm and seizure/freezing of bank accounts. This is normally done in cases where the gov't is afraid of losing public opinion. It doesn't want bad publicity so it freezes bank accounts so no defense can be mounted.
Just wait to see what this does to farmers markets, et al, it shuts them down unless they have filed 3 years of financials, a hazard mitigation plan and several other bullshit (read time consuming) plans. Totally fucked for the local farmer.
I hope everyone who sits back without even a token call to their representatives just fucking starves, fuck em.
FMB down below said it best;
http://www.zerohedge.com/article/obamas-novel-spin-mad-assured-self-destruction-president-tells-congress-not-passing-tax-deal#comment-810025
Control freak fascism.
correct, it's a one banker-partay with two wings.
the dimo-rat-banker-cocksuckers
and
the repub-rat-banker-cocksuckers.
The selections are a farce and we should stop them and just admit it.
Although it does give the sheeple something to obsess about.
I suppose it is no worse than the xmas farce.
Why not? Pretty much the same game the central banks have been playing for quite a while.
Of course, since I am a terrible racist, I immediately thought of this clip: http://www.youtube.com/watch?v=Z_JOGmXpe5I
Somehow I knew this vid would be posted. It was actually the first thing I thought of.
:)
pods
Hindenburg Omen, 2nd day in a row. Confirmed according the old definition!
http://stockcharts.com/h-sc/ui?s=$NYMO&p=D&b=5&g=0&id=p20489603975
Bulls are writing this off as a non-event because August signals didn't come through (thanks to QE2) and because it is a result of bond ETFs hitting lows.
Doesn't the bond market usually know better than the stock market?
the only cuts should be to government itself. there's no glory in taxing the people more, only reducing government by 30-40% in line with their ability to collect taxes. this is what private industry does all the time. only in government as there perennial increases in all form of spending. the classic scenario such as in greece where the citizens of greece are actually in great shape but the country is bankrupt. in the usa we're seeing a re-run but with the central bank ensuring BOTH citizens and the state become bankrupt. no one wants it to end this way, but we know that there is still no substitute for physical or cash-flow equity assets vs government paper or bonds.
A 30-40% reduction in the scope, intrusiveness, damage, distortion, abuse, and of course cost of government ... would be a good start.
Of course, but they won't cut back fairly... the military industrial complex will remain fully funded.
"Thoughtcrime, they called it. Thoughtcrime was not a thing that could be concealed forever. You might dodge successfully for a while, even for years, but sooner or later they were bound to get you."
Tyler, Thank you for showing up every day. Each day, you bring me to the brink of tears and then back again for a good laugh. Round of Applause, folks.
"bring me to the brink of tears"!
Your wrist is as limp as Cog Dis'es. Give me a fucking break. Maybe you can go share your emotions with your Facebook fag friends. Don't do that shit here.
May the next vine you grasp for be a viper.
lol
What's your facebook?
that made me laugh.
anything which would guarantee the end of the lying sack of shit's presidency would be a very good thing.
the liar should be impeached for being an indonesian citizen born in kenya.
but as george bush explained, "the constitution is nothing but a god-damned piece of paper." obama proves the truth of bush's statement - the only time in the draft dodger's life that he spoke the truth.
www.obamacrimes.com
www.collateralmurder.org
Who, Barry, a liar?
In less than 2 minutes:
www.youtube.com/watch?v=UErR7i2onW0
I promise "five days posted on line before I sign a bill"...classic...LOL.
If you think that's hilarious you should check out "The WhiteHouse Whiteboard" -- http://www.youtube.com/watch?v=iOH6t6mxuJM... so cute.
Wow. Pathetic and hilarious. Strange combination, that.
sorry this country is out of anything that passes for a potus.
ALL THESE and any on the horizon are cryin lyin scumbags ir traitors.
Absolutely, He can't run again because this time there are laws on the books requiring the parties to verify candidates are constitutionally eligible.
He sure as shit didn't hide his records and then spend over 2 million fighting efforts to produce his long form birth cerificate because he took some sort of ethical stand against disclosure.
They'll be some reason, don't have a clue what it'll be, that he doesn't run in 2012. I hope it isn't because there isn't elections.
The DNC verified him as constitutionally eligible.
LOL...vetting?...vetting!?!?!...we don't need no stinkin vetting!
I would like to state in unequivocal terms that our nation would be much better off if our current president would simply resign and new elections were scheduled. If there is another side to this debate...if there even is a debate...I don't see it.
I'll leave the tall task of defending the current administration to someone with more energy and less awareness than me.
I would have more faith in whomever won the last dancing with the stars than anything that could get elected.
Anyone that could get elected should not be.
The truth about the tax cuts, et al.
http://www.xtranormal.com/watch/8092315/
he failed in his quest for more free trade agreements (with korea) and now 'threatening' this as a 'failure' of his presidency. You'd think 'Deficits don't Matter' Dick was his VP.
we need a "picture enlargement feature" TD. Is this a "Vendetta Mouse"? I'm a big fan of Mighty Mouse of course. A mammalian Minnie Me here V?
And that folks is what American exceptionalism has boiled down to: must win at all costs.
As long as it is a Republican vs. Democrat, Win vs. Lose paradigm, nobody ever has to ask the hard question:What are you winning?
Sports Nation.
with crooked referees
DeFazio says there's no rush, and the tax package could be passed next year, but is likely unaware of the market response to 15% vs. potentially 20% that could provoke a 2010 sell off to minimize taxes on the fibonacci-like gains of the last 21 months.
President Biden?
Shiver ran down my spine...
as opposed to the tingle up chris m's. leg?
Nah, he'll be passed over along with everyone else until it's the Secretary of State's turn.
BTW, Bill was enjoying his spot in the limelight the other day a little too much. No teleprompter either, amazing feat...
well, that's unique...but he is smart afterall...got to give this to him...in final analysis doesnt change a bit in the big scheme of things...yeah well, theater - american style
Hey, that would be great if O would end his presidency. I heard the other O is looking for someone to take over her show, and he'd be a natural!
I am SOOOO sick of this Presidenting CRAP!!!
Ah , the Blazing Saddles gambit .
ROFL...
thlllppttt!
As long as we don't lose a $400 handcart.
Now that is funny! :)
"Oh Lordy-lord, he's desperate. Do what he say. Do what he say!"
Short (1:09) audio clip of ... I Swear I'll Blow This Nigger's Head All Over Town
Begins with ... Bart: "[low voice] Hold it! Next man makes a move ..."
If Obama can't whip out Cold Fusion he is gone.
He is a "Peter Frampton" president. A one term wonder that people will be hearing about and feeling fallout from for years to come....
Do you feel like I do....?
"whow, whooww whowww whowww whow who whoww wha whowww. WHAW WHAW WHAW WHAW!" Talk about a put down! What is that girl doing TohourNatos?
She is kisssing a hangmans noose
Agreed, Frampton is an inspired comparison.
He'll merely be the Herbert Hoover of the 21st century.
He'll merely be the Herbert Hoover of the 21st century.
It is not even close ... vote it down. In fact end his presidency as soon as possible. Face it if this were a European style presidency the man would not get a vote from anyone. The president is an empty suit as many pointed out before this clown was elected.
Barry is incompetent and shameless. I despair. How is this shit going to end?
I disagree. He has carried out his masters' plans to perfection, they will be very pleased with him and i'm sure he will be rewarded handsomely once the NWO is firmly in place.
NWO? No way.
Pretend sovereigns are much more profitable. And easy to divert blame onto.
You're probably right Bill. Saw you in Manchester, UK in the mid-late '80s if I recall. You came on stage around midnight and performed for hours. It was 'theatre in the round' inside the old Corn Exchange building and was magical. Never seen anything like it before or since. Glad to see you're still in fine fettle.
If we stop voting, will they just go away?
Fascism never goes away, it just changes guises.
"Fascism never goes away, it just changes guises."
Whooop der it is!
Haven't you heard...children are starving in America...so much so, they are obese (yes I know, it makes no sense to me either)...so obese & starving at the same time, we now must spend a few billion on a problem that no one can identify or even see a paradox in...it's all so very confusing to us plebes.
Thankfully government is there to "show" us reality.
Ditto blazing saddles. Don't zo it or I'll shoot the N;(((ger. Man what a tool
I would have asked for that in writing then voted against
"Would you like another schnitzen grubben?"
"yo, woman. Six schnitzen grubben is all I can hannnndle...
[Bart then points his pistol at his own head]
Bart: [low voice] Hold it! Next man makes a move, the nigger gets it!
Olson Johnson: Hold it, men. He's not bluffing.
Dr. Sam Johnson: Listen to him, men. He's just crazy enough to do it!
Bart: [low voice] Drop it! Or I swear I'll blow this nigger's head all over this town!
White people are sooo stupid.
So here is the math: marginally higher taxes, and the potential for actual economic improvement in the future, or we keep Obama, and get $5 trillion more in cumulative deficits over the next 10 years. It sure sounds like a toss up.
Increases in tax revenue lead to increases in government spending. http://online.wsj.com/article/SB10001424052748704648604575620502560925156.html
I'd rather starve the beast, then think that keeping the current tax rates will grow the deficit. It is not the income but the out-go that is the problem. Cut taxes and create a stable long term frame work to work from. Then bring individual departments up for budget votes.
I blame Mel Brook's for that last comment . And of course , Bush .
All of which raises (not begs -- http://begthequestion.info) the question, When will the American people finally realize that representative democracy is a farce and that endlessly choosing between the lesser of two evils (even if they could determine which is which) cannot but end in a cumulative increase in evil?
Or as the great freedom-fighter Emma Goldman said nearly a century ago: "If voting changed anything, they's make it illegal."
emma goldman was a rabble-rousing, nation wrecking, bolshevik kike.
She is now in hell.
A well-reasoned reply there, LS.
Give Barney my your best, and say hello to Emma when you join her.
save your bullshit about that rat faced jew for the shtetl.
And that effects the truth of her statement exactly how?
pods
O/T
http://www.lewrockwell.com/grigg/grigg-w181.html
Damn.
Results of 2012 election:
Barack Hussein Obama : 37%
Ron (NukeTheFed) Paul : 61%
Oh well, we can dream, can't we?
PS: The way the economy is going... you never know.
our country's largest electronics retailer Best Buy just reported third quarter same store sales down 3.3% from one year ago!
Which all by itself is plenty of justification for Bernanke to start a concurrent QE3 of... say... $3-trillion?
Though I read somewhere else that the actual incentive for Obama to support the Bush tax cuts was if it didn't work, in 2012 he could still blame Bush. </s>
Spawn of Frank Marshall Davis. For sure. Knows it, lies about it. Dishonest at the core.
End his presidency?
So be it.
If this is true it only proves that power is more important than doing the rights thing.
TAKE ONE FOR THE TEAM OBAMA!
He came on the scene as a reincarnation of FDR, saving the nation. His only accomplishment will be being elected in the first place, as another first _____, this and that. Tax bill passes, 30 year to 6%, no tax bill, Dow tests lows. Take your pick. We are toast until we get some brains in Washington. We need to generate some value in the country. Trap the solar energy falling here, or shut off the Walmart spigot.
The same blackmail used G. Papandreou in Greece a month ago.
Its a bluff
Somebody start a Zerohedge Party, pretty plz...
Fuck. Yes. Somewhere central, tax day? Tyler Durden guest speaker -- no matter how many different people speak. I like it.
This is the first time I've been rooting for the house dems. Still feel slimy though.
I wont hold my breath for either those that call these fools bluffs or the BS artist making the statements. im still waiting for the liars to leave this country that said they would if so and so was elected or law was passed.
Tired of being SCREWED by the FEDERAL GOVERNMENT and LIED to by PRESIDENT OBAMA, BERNANKE, JAMIE DIMON and the other host of CRONIES??
Then Watch the YouTube Video “AMERICAN DREAM DEAD ~ DENIAL, THEN PANIC” at (http://www.youtube.com/watch?v=7PFqAoqrPOs)
Anonymous-
It’s time you STOPPED getting SCREWED by the BIG RED WHITE and BLUE !!
What a self-centred prick, I guess he is no different than the rest of the liberal elites.
Probably be a one term-er like that other great democratic president Jimmy "the peanut" Carter who now spends his time bad mouthing America and especially white people...go figure for a white southerner....
Back to the Chicago slums for you Barry. You won't be missed.
Damn.....it can't be that easy, can it?
Obama will be re- elected because the Republicans do not have a candidate that isn't absurd. The only GOP tactic is the worn- out 'Southern Strategy' that Obama exists to thwart.
Regardless of what happens in DC with the current cast of characters there will be no growth and a continuing economic decline ...
Unless the GOP pulls the plug on the government and fails to extend the debt ceiling. Doing so ='s default and the rest ... as they say ... is history!
"The Fed will monetize," cry the ill informed. The bond market is cracking now due to Fed monetizing. Bernanke can sit on the sideline and wave his hands. Anything he does will make matters worse.
There are trillion$ in bad debt propped up off- balance sheet @ hundreds of finance institutions. There are hundreds of trillion$ notational in derivatives held in expectation of low rates. Once deleveraging reaches the stage of margin calls, the entirety will be brought onto the market at once. The outcome will be the 'mother of all liquidity squeezes' as any currency brought to market will vanish into vast derivatives- ballooned insolvent balance sheets.
Even bears here @ ZH do not understand that the abyss is right underfoot. The period before Christmas is going to be very interesting, and not because of the NFL playoff races.
Gary Johnson
Like Eliot Spitzer says in one of his articles................ subpoena, subpoena.....
How do we know who is telling any truth.?
Let's extend to him a Laurel and Hardy handshake...
http://www.youtube.com/watch?v=upvZdVK913I
He's not bluffing...
Mel Brooks rules.
President B.O. is just as much a puppet of "the Evil Tribe" as George Bush was. He will serve as a patsy for as long as it is convenient for them to use him. When his usefulness to them is ended, he will be "Kennedy-ized." The resulting nationwide chimpouts will deflect attention away from the depression and help bring in a "state of emergency," they will then declare a "national emergency." Police will be nationalized and Big Brother law enforcement will be the new reality of the USA.
Don't forget a false-flag event to declare war on Iran and get WWIII in full swing to change the subject in FDR-like fashion.
oh for god's sake, the "end" of his presidency. it's all about him? that's just pathetic.
Presidency was up before he was elected; when he came off the campaign trail to applaud and vote for TARP. Credibility he never had.
beautiful
That's almost like having a GP you hate get hit by a bus. Really, he was the fastest lame duck in history - he inherited a bad hand and played it worse. I hope the next president has a trophy wife like Sarkozy or a mistress like Putin's... The side/rear view of Michelle Obama looks like Patrick Ewing with two asses. Embarassing
What is not to like?:
http://juanitajean.com/wp-content/uploads/2010/09/behind.jpg
http://www1.pictures.zimbio.com/gi/Obama+Addresses+Military+Families+4th...
Don't get all excited. He hasn't done anything else he promised so this is just hot air too.
This is change you can hope for I believe
Wow, she got a caboose.. hide ya kids, hide ya husbands..
Seriously? Does the tax cut "extension" go or no go really make a difference? We don't have a tax revenue problem in America. We have a tax spending problem in America. Our government spends our money on pointless crap that does very little to actually improve the economy. They line the pockets of certain groups, generally to the detriment of everyone else. The fact is that letting the tax cuts expire will do nothing, as will extending them. The debate itself is a joke. We are way past the point of no-return, asking the question "can we afford another credit card" when we know, without a doubt, there is no way we will ever pay off what we have already borrowed. This tax cut is simply perpetuating the allusion that we are not bankrupt already.
Somebody get this guy a cigar.
Sorry, I'm "swiped-out!"
I would be more then willing to help Obama pack his bags :)
The day he decided not to relsove and break up the banks was the day his presidency ended. All the rest of this is just slow agony and ruinious debt.
I didn't think it was possible to be as bad a president as GW, but Obama really has shown that GW was just doin what he was told. Obama is servin the mastah now too.
Revolution bitchez!
You guys actually think that it matters whether B.O. has a second term or not? I can't think of anyone more different from G W Bush - and yet somehow - with the exception of the rhetoric - I really don't see much of a difference.
Did you all get a load of that bi-partisanship in the Senate - amazing how they can get together on the things that really count...the wealthy...spending other people's money...protecting their bankster friends...etc.
That sounds like a Doors song.