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Whose Line Is It?
Guess what extremely charismatic (if extremelier teleprompted) future leader of the free world uttered the following rhetorically elegant, if completely and utterly hollow, words:
"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
If you said Barack H. Obama, give yourself a golfclap. And if you are scratching your head furiously at the seemingly unbelievable hypocrisy after how just four years later, the president's own economic advisor Austan Goolsbee said that a refusal by the Senate to increase the government’s debt
ceiling would be “catastrophic” and a sign of "insanity" don't worry, you are not alone. In fact, very few people can believe the self-professed "insanity" of the very people who four years ago were all about prudent fiscal behavior but now couldn't give a rat's ass about drowning the country in $150 billion in debt each and every month.
And some other observations on the teleprompter's facility with swaying in the wind via the National Review Online:
In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)
Sen. Jim DeMint (R., S.C.) told Human Events in an interview released today that the decision about the debt ceiling “needs to be a big showdown” in the Senate.
“We are going to cut [spending] necessary to stay within the current levels, which is over $14 trillion,” said DeMint.
If by "big showdown", DeMint means the latest pathetic theater of, for and by the government, which pretends to care about the middle class, while continuing to pander to the top 0.1% of US society, then he is absolutely spot on.
But yes, the president is correct. Americans do deserve better... than the corrupt puppet frauds that are allegedly representing their interests in the judicial, legislative and executive branches of the Wall Street purchased US government.
h/t Lucy
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"God, I admire you."
Fletch
Yes, but up 9% from Sept. Typical cherry picking Douchebag Troll.
It's especially foolish of Troll vermin to look at three month charts when most of the people he's trying to fuck with have been long for years, if not decades.
Saying you are long "years" is cop out cherry pick. A cherry you're gonna see popped.
No Dipshit, it's the truth. I've held some physical gold for years, and silver that goes back generations. A little blood on the sidewalk doesn't scare me much. There are metal investors, and there are bugs. Arguing with a bug is even dumber than arguing with a troll. Thing is trolls come and go, bugs just seem to hang in there forever, without a hell of a lot to worry about.
"You can't invest in the past tense" is completely wrong - if you invest in the past, then you have "invested". This is a perfectly valid word, it's in the dictionary and everything. It seems you suffer from commitment issues, or ADHD. Not everything is instantanious and/or future dated.
An example in this concept may help you : I "invested" (note : past tense!) in unleveraged debt-free physical gold some time ago, and am perfectly happy with it's performance. Nothing goes up in a straight line, and a consolidation here is quite normal/healthy. It doesn't break the trend. Daily movements up or down of $50 or more don't bother me at all.
Shocking! Americans tolerate hollow promises from their political class over and over and over again, until one day they find themselves under the thumb of a globally-centric totalitarian rule which seized power by promising to deliver ever greater autonomy, liberty, and freedom.
"I will guarantee you a type of freedom never experienced in the history of human existence if only you allow me to fasten this yolk onto you just one time."
"Pinky swear?"
"Uh, sure..."
Why, in a healthy, sane world, gold would be relatively stable in relation to paper money - don't rejoice in gold being hammered for it is a serious symptom of a deadly disease!
(d)
this exact discussion was the topic on peter schiff radio show (schiffradio dot com) with rick santelli. great show
Ah damn, I was sure it was Krugman.
the teleprompter made him say it, besides that, its all Bushs' fault
Obama is setting a line. If the Conservatives try to cut welfare from 20 billion a year to fifteen billion a year, he is going to refuse to raise the debt limit and reduce the government budget by far more than 5 billion.
Even if you eliminate food stamps, you still can't get the Liberal welfare anywhere near where the impact is going to be. It's not just the Chinese tbill buyers who have a firm hand on the most sensitive parts of the Pentagon budget.
Its either Goverment money or the shadow banks - this world is no longer big enough for both.