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Theatrical Vote To Raise Debt Ceiling By $2.4 Trillion Begins; Does Not Pass
Update: As expected, debt ceiling does not pass. Final roll call:
- Nay (Republicans 236, Democrats 82), total: 318
- Yea (Republicans 0, Democrats 97), total: 97
- Not Voting (Republicans 3; Democrats 6); 9
As we reported first today, any minute now the Congress will pretend to vote on HR1954, a clean debt ceiling increase of $2.4 trillion to $16.7 trillion. This will not pass. Why Congress is doing this bullshit, and why the US debt ceiling is now nothing but a farce, is a question voters should ask themselves next time they vote for their representatives. Watch the tragicomedy live at C-Span below.
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I am most displeased that so many self-described tea party congresscritters voted for the patriot act.
Individual liberty my ass.
my thoughts exactly
Don't forget bombing Black and Brown people. The Republican operatives you name love that.
Your problem is that you confuse subsidy with discount. Educate me. Show me how Koch Industries is a not an enormous tax payer. Not to mention an enormous employer, of real wage jobs, with real benefits, keeping tens of thousands of people paying real taxes.
You may argue with which role of the play they assume, but don't be stupid enough to think that they aren't a net positive on society.
Jesus Christ, you've got me sounding like a Rand fanatic.
Seeing as they're a privately held company, hardly any of their financial information is online. That said, I would not be surprised to find out they get back as much as they pay in. The data just isn't there ... at least as far as I can tell.
They do use a 'loophole' to get tax credit for being a 'small business' in spite of the size of their conglomeration.
And they lobby hard for things like the removal of regulations on dioxin contamination. Thanks, Koch Industries, for making our word a more carcinogenic place!
So yes - they make a ton of money (which they deploy to great effect on K Street). But I'm not sure if that makes them a net good for society, given their social function is to poison the planet.
O.K. I agree (to an extent) with the social/environmental premise. In terms of a net gain, I would ask the 80,000 some odd people they employ in the U.S. at actual high end wages whether or not they are good for society or not.
and while were at it, well ask all the goldman employees the same question
seriously, bernanke prints the money, why not block raising the debt ceiling and let Herr B do the heavy lifting?
This reminds me of TARP (Too Ass Rape Peasants). You all know they'll raise the debt ceiling. This is all a bread & circus act. The only way the vote will fail, the elected children will be looking down the barrel of a gun.
It won't happen, government sugar daddy is keeping the checks in the mail, TV has plenty to offer for diversions, and food stamps keep the hungry lion at bay.
We live in a sick world. The government enablers are on borrowed time.
It would be really freekin' cool if they stopped paying our elected officials' salaries and benefits, though.
That's a few million a year. Every little bit helps, you know?
Michael Pento: Central Bankruptcy – Why QE3 is Inevitable
http://finance.yahoo.com/blogs/daily-ticker/michael-pento-central-bankru...
Palin/Bachmann in 2012.
At least our side breathes.
Maybe RT can abuse him/herself over the image, instead of NFLX.
PS, fuk u Karl Rove!
Advantage: System shut-down accelerated!
There would be full corporatocracy and that would bring the ordinary man off his sofa and into the streets.
The problems can not be fixed - stock up on PM's, food, water, guns and ammo - see you at the revolution!
I appreciate your post. Too many people try to make sense of it all and try to change it. Trying to change it is actually harder. Like stopping entropy. It wants to break. Nature will run it's course. Just be prepared for the rapids coming up.
Hear Hear.
I would like to think someone will fix it sometime. However nothing has been done since the first Trillion in debt was made decades ago.
My only regret was being asleep too long to prepare in a timely manner. The last few years has been a bit of a Chinese Fire Drill.
People should have to earn their citizenship. Just being born here is not going to cut it. Contributors should be rewarded with citizenship. All others should strive to gain citizenship through their contributions. The people in power need to treated in proportion to the consequences of their actions - good or bad. The feint of heart, greedy slimebags we currently have would not want to get elected, let alone be impaled for all of the bs they have fomented. We are not seeing capitalism here. The next person who blames this on capitalism is going to make me sick. A true capitalist not only profits, but leaves an environment where he/she may continue to profit. What we have here is a parasite host relationship. The parasite will kill the host and then die off itself. The question is when will we realize that we are being bled dry by our politicians? When will we get the republicons and democriminals out of office so we can at least try to fight back against the special interests and build a future for our kids and grandkids? Thats what it is really about - when your kids and/or grandkids turn to you and ask "what did you do about this?" what can you say? Did you plant your head in your ass and play the endgame or did you get off of your ass and do something? Did you support your local neocon or commu-iberal - or did you get out there for a real candidate in another party? We need to bring this country back to it's people or you might as well chain yourself and your kids, and their kids up as slaves. Good night.
http://en.wikipedia.org/wiki/Tragedy_of_the_commons
I will consider myself rebuked on this point. I will concede no others!
repeal the 16th amedment!
once upon a time there wasn't income tax, it was unconstitutional.
I expect the Demicans to act the vicious state socialists that they are. It's these damnable Republicrats and their pose of Fiscal Responsibility that so stinks in the mind, when we all know what the end result will be: yettanother debt ceiling increase, smokescreened by spending cuts that will never happen, and tax increases that will. As to Putin and Strauss-Kahn, everyone in the know already knows there's no gold in Fort Knox. The Jew got arrested because he raped the maid. QED.
Fiscal Responsibility = Killing Black and Brown people + Massive Tax Breaks to Banker-Gangsters + Subsidies as far as the Eye Can See + Bailouts + Austerity for non-donors + Pillage of Social Security
this was a give away vote. It will allow foolish pols, like Senator Kerry, to say..."I voted against the debt extension before I voted for it." Many Members got their "no" vote and will now begin to measure exactly what the fall-out is. Their staffs, will carefully track constituent response to see how to play the real vote...the final vote. As annoying as this is, its helpful in that not much negative fall-out is hitting markets. The ZN, ZF, ZB and ZT took the vote in-stride. Gold, silver, and other commodities are also relatively quiet. What more could we have asked for?
What we all know is that the "fat tail" trades are well hidden. They do not show-up in traditional markets...very clever fellas...lets see what happens when Biden can't cut a deal. Then we will see the real trades exposed and given the way the banks are managing risk, we'll also see if their balance sheets can take the hit. Before this is over someone is going to take a hit.
Don't raise
the debt ceiling ..
lower the economic floor ...
Empty Knox and sell off the Gold. 32,000 Ounces to the ton, 10,000 tons at a price of 1500.00 ounce.
The resulting income will pay off all the Nation's debts, the States Debts and those of the Local Counties and Towns Debts/Bonds. And maintain enough on hand to keep a surplus for the next 300 years or so with about 512 trillion dollars in total proceeds of such a sale.
It will also keep a balanced budget with literally everything paid off, paid for and financed without need for taxes or other issues. And provide for improvements, replacements and so on so forth.
512 trillion off 10,000 tons of Gold. There, the United States settled financially in total for at least our life times without any further debate or actions by Congress.
on Wed, 06/01/2011 - 01:16
#1327675
"....512 trillion (dollars) off 10,000 tons of Gold .... the United States is settled financially in total for at least our life times without any further debate or actions by Congress."
Seagull, I think you math and your reasoning are a little off. The Feds claim to have a total of 8133 tons of gold (which is itself doubtful). This stated tonnage translates into about 260 million troy ounces. At $1500 an ounce, this amounts to about $390 billion. This might fund 3 MONTHS of the current budget DEFICIT, or less than 2 months of total spending. Further, if the rest of the world knew we sold off all our gold (and no other Central Bank did), the US dollar would be toast in about a nanosecond.
.....zzzzzzzzzzzzzzzzzz........nighty night kids.
It doesn't matter.
They'll just ignore the debt ceilng from now on.
Rocky Racoon, Could you please email me? ec_zoomer@yahoo.com Thanks