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Zuckerman Loses It, Releases Most Scathing Criticism Of Obama Yet: "The Most Fiscally Irresponsible Government in U.S. History"

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Two days ago, in Mort Zuckerman Laments "The End Of American Optimism", Takes His Criticism Of Obama To A Whole New Level, we assumed out that Mort's critique of Obama, his policies, and his economic team had reached a level that would likely not be surprassed for a long time. Boy were we wrong - one short day later Mort comes out with The Most Fiscally Irresponsible Government in U.S. History: Current federal budget trends are capable of destroying this country. "The United States simply seems to lack a system that can fund the government that the people say they want. We are good at crises, but we do not seem to be good at tackling chronic problems. Obama must know that if he doesn't address this, he will be the president who drove us toward a debt crisis. And so too must Congress, for both have now participated in the most fiscally irresponsible government in American history." Scathing does not do it justice...

As posted in US News

The Most Fiscally Irresponsible Government in U.S. History
Current federal budget trends are capable of destroying this country

There is an instinctive conclusion among the American public that
President Obama's stimulus package has failed to create a sustained
recovery. Unemployment has increased, not declined; consumers have
retrenched; housing starts have crashed along with mortgage
applications; and there is a fear that a double-dip recession may very
well be in the pipeline. The public perception, reflected in Pew
Research/National Journal polls, is that the measures to combat
the Great Recession have mostly helped large banks and financial
institutions, and that's a view common to Republicans (75 percent) and
Democrats (73 percent). Only one third of either political leaning
thinks government policies have done a great deal or a fair amount for
the poor.

Click here to find out more!

There is another instinctive conclusion among the American people. It
is that the national deficit, and the debts we have accumulated, are of
critical political importance. On the national debt, the money the
government has spent without the tax revenues to pay for it has produced
mind-numbing numbers so large as to be disconnected from reality. Zeros
from here to infinity. The sums are hard to describe; it is hard to
describe an elephant, but you know one when you see one. The public
knows that, shuffle the numbers as you may, the level of debt is
unsustainable.

Who could be surprised since millions of voters have discovered that
for themselves? As one realizes the morning after the night before,
there is an unavoidable penalty for excess. It is unnerving to wake up
and learn that you have a mortgage on your home that exceeds the value
of the property. Or, and too often both, you have a credit card line
that you cannot repay and the issuer has you on the rack for ever bigger
compound interest on the debt. The lesson has been well and truly
learned that debt catches up with you. Millions understand that they are
just going to have to find a way to live within their means—and then
still eke out some savings to pay down debt. And there are well over 14
million Americans without a paying job, so the level of discontent is
very high. Just how are they going to regain control of their lives?

In a usnews.com post
on July 26, Jodie Allen of the Pew Research Center reported that in
recent weeks more academic and market economists have been urging the
government to defer budget cuts and tax increases and instead provide
additional stimulus to a still-fragile economy, some by continuing the
Bush tax cuts. But among the public there has been a suggestive shift of
opinion the other way, reflecting worries about debt. "Deficit and
government spending" has jumped from 10th or 11th place as a priority
for the federal government to one that is second only to job creation
and economic growth. The drift of opinion is manifest in other recent
polls. For instance, a CBS poll conducted July 9-12 assessed the most
important problem facing the country as the economy and jobs (38
percent), with concern about the budget deficit and national debt way
down at 5 percent. Yet CNN (July 16-21) has 47 percent preoccupied first
with the economy, and 13 percent with the federal deficit. In a recent Time
magazine poll, two thirds of the respondents say they oppose a second
government stimulus program and more than half say the country would
have been better off without the first one.

People see the stimulus, fashioned and passed by Congress
in such a hurry, as a metaphor for wasted money. They are highly
critical about the lack of discipline among our political leaders. The
question that naturally arises is how to forestall a long-term economic
decline.

The Fed has lowered rates dramatically to keep the economy ticking
and maybe continue the painfully slow recovery, but at the receiving end
there is no feeling of relief at all. People know that the stimulus is
about to stop stimulating. They know that money is petering out. They
know that states are preparing to cut $200 billion to balance their
budgets. They realize that the Great Recession has wiped out huge
amounts of wealth and that, unlike other recessions, this will not be
followed by the kind of economic boom when people who had sat on their
money during the lean years unleash pent-up demand for all sorts of
goods and services.

There is no sign of that happening this time around. Households and
businesses have kept their hands in their pockets. And so while many
think that the only way to revive the economy and to inject more money
into it is through governmental spending, the general feeling is that we
can't afford that right now. The government will be writing more IOUs
on top of those we already can't afford. Why plan a second stimulus if
the first stimulus couldn't prevent high unemployment?

Of course, the question remains whether public sentiment coincides
with sound economics. The challenge we face as a country is how to get
growing vigorously again while achieving fiscal sustainability. We are
learning from the Europeans what happens when the risks that came with
excessive debt become realities. There seems to be an emerging consensus
that if there is to be any additional stimulus, it must be explicitly
linked to credible fiscal restraint down the road. This would include a
commitment to binding legislation that would change the algebra so that
both programs and budget procedures get us on a benign trajectory.

There are two warning signs of a budget crisis: rising debt and the
loss of confidence that the government will deal with it. This
administration is on the verge of fulfilling both conditions. In
fairness, there is no majority coalition in Congress for deficit
reduction today. It is also true that the growth of public debt has been
driven by a dramatic diminution of tax receipts due to the recession,
the extra spending to avoid sinking into a self-perpetuating depression,
and all those billions we invested to save the financial sectors from
their sins. Voters see the politicians most vociferous about reining in
the federal budget as those who are out of power and want to use it
against the majority party. Too many politicians claim they are all for
balanced budgets—but only by reducing the other party's priorities.
Republicans want to reduce social spending. Democrats want to reduce
military spending. It is Washington as usual.

Amid the clamor and counterpromises, the historic record is worth
keeping in mind. We paid for World War II through growth. The national
debt, as a percentage of gross domestic product, fell sharply through
the postwar presidencies of Truman, Eisenhower, Kennedy, and Johnson
(despite the Vietnam War) and continued edging down through most of
Nixon's, rising a little with Ford's. We marked time in the stagflation
of the Carter years, and then the debt percentage increased dramatically
during the Reagan-Bush presidencies. It shot up again to the present
dangerous levels under George W. Bush and Obama. The only good years
were Clinton's.

An old saying that can apply to the deficit is called the "rule of
holes" and goes as follows: "When you're in one, stop digging." But
Washington politics remains the barrier. Government programs seem to
live on forever. The budget becomes a perpetual-motion machine for
higher spending. New programs for new needs get piled on top of old
programs for old needs.

Then there are the retirees. Their numbers and their health costs
will keep on rising. There were 35 million Americans over 65 in 2000 and
the number of retirees is expected to double by 2030. The impending
retirement of millions of baby boomers, with their claims on federal
retirement programs, comes at a time when both parties seem to be
willing to worsen tomorrow's problems to win more of today's votes. The
result is that the federal budget is drifting into a future of huge
deficits or unprecedented tax increases, or both.

Federal spending is moving toward a higher plateau—from roughly 18
percent of the GDP to almost 25 percent by 2030. We don't know how we
are going to pay for this. We don't know how the economy would fare with
much higher taxes. We have seen the clouds gathering for years but
haven't invested in an umbrella by adjusting federal retirement programs
or taking other steps to reduce entitlements. One response would have
been to begin gradually phasing in eligibility ages and tying benefits
more to income. No doubt we have to think about raising the eligibility
age for Social Security and Medicare, perhaps by one month for each
two-month increase in average life expectancy. We will have to think of
ways to reduce the cost-of-living increases on Social Security benefits
for wealthy seniors by slowly increasing their Medicare premiums and
leaving everybody else's untouched. We may have to allow the Bush tax
cuts to expire, certainly for households earning more than $250,000 (and
more for the super-rich) given the concentration of wealth in the top 1
percent of the population. It is entirely appropriate that they begin
to make a greater contribution to our longer-term fiscal health.

The United States simply seems to lack a system that can fund the
government that the people say they want. We are good at crises, but we
do not seem to be good at tackling chronic problems. If we wait until a
crisis happens, it will be too late. It is simply not possible to close
the gap entirely with the tax increases on the rich that Democratic
liberals so desperately believe in. Nor can we close the gap with
spending cuts, as the Republicans would like. The liberals will have to
concede that benefits and spending ought to be reduced. Conservatives
will have to concede the need for higher taxes.

Hope may lie in a new bipartisan panel headed by Erskine Bowles and
Alan Simpson, two unique, wise, and centrist political leaders whose
characters raise some degree of confidence that they might be able to
come forth with productive programs. As former President Clinton said of
them, they "are free enough to disregard the polls but smart enough to
take them into account."

But let's not forget, current budgetary trends are capable of destroying the country. As Bowles pointed out, according to a Washington Post
report, we can't just grow our way out of this. We can't just tax our
way out of this. We have to do what governors do—cut spending or
increase revenues in some combination that will begin to pull us back
from the cliff.

Obama must know that if he doesn't address this, he will be the
president who drove us toward a debt crisis. And so too must Congress,
for both have now participated in the most fiscally irresponsible
government in American history.

 


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Fri, 08/27/2010 - 08:34 | Link to Comment Haywood Jablowme
Haywood Jablowme's picture

There is but one hope....

http://www.youtube.com/watch?v=3GJOVPjhXMY&feature=related

 

....and maybe his cloned brother....

http://www.youtube.com/watch?v=MsYT47BWHms&feature=related

 

Lord forgive us.

 

 

 

Fri, 08/27/2010 - 08:44 | Link to Comment Crook County
Crook County's picture

win!

Fri, 08/27/2010 - 09:52 | Link to Comment sunny
sunny's picture

No Grasshopper, there is still hope.  There is an alternative....

http://www.youtube.com/watch?v=ql0IB1zv2MA

sunny

Fri, 08/27/2010 - 10:03 | Link to Comment Clayton Bigsby
Clayton Bigsby's picture

Dude, that's my second favorite name, right behind Phil Uranus!  Nicely done!

Fri, 08/27/2010 - 08:37 | Link to Comment bugs_
bugs_'s picture

Welcome to the party rip van winkle!

"...hope may lie..."

Fri, 08/27/2010 - 21:42 | Link to Comment halvord
halvord's picture

Oh, I know! When Obamalama gets us into our 3rd simultaneous foreign war, we'll know truly what is fiscal irresponsibility.

Fri, 08/27/2010 - 08:38 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

The public perception, reflected in Pew Research/National Journal polls, is that the measures to combat the Great Recession have mostly helped large banks and financial institutions, and that's a view common to Republicans (75 percent) and Democrats (73 percent). Only one third of either political leaning thinks government policies have done a great deal or a fair amount for the poor.

I'd say it's a high probability that we just found the one third who has benefited from, or at least not been hurt by, this cluster fuck. Or those who took a nap in 2005 and haven't woken up yet. And of course the brain dead iTunes zombies.

Fri, 08/27/2010 - 09:16 | Link to Comment grunion
grunion's picture

We know who the 1/3 is, why are politicians so afraid to gore that cow? (no puns intended)

Fri, 08/27/2010 - 09:28 | Link to Comment mnevins2
mnevins2's picture

And what do you think the mood of the country will be once GS, etc. begins announcing their bonuses? Any recommendation of pitchfork manufacturers?

Fri, 08/27/2010 - 09:47 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

While thinking of pitchforks might make us feel better, no pitchforks will come out if the powers-that-be succeed in keeping the slippy slope from accelerating. Notice I didn't say they must stop the decline, only prevent it from accelerating.

It's all about managing expectations. People will not revolt as long as the road to hell is a gradual slope. Too steep and people get upset quickly. A slow slope is the equivalent to the slowly rising temperature in the pot. The public doesn't panic until it's too late.

Fri, 08/27/2010 - 10:05 | Link to Comment Village Idiot
Village Idiot's picture

" A slow slope is the equivalent to the slowly rising temperature in the pot. The public doesn't panic until it's too late."

 

Don't want to see your lobster flail and scream when you drop it into a pot of boiling water?  lay it gently into a pot of cool water and raise the temprature slowly. 

Fri, 08/27/2010 - 11:09 | Link to Comment mnevins2
mnevins2's picture

I am skeptical that PTB can successfully manipulate public opinion regarding another Wall ST bonus pig-fest. Do you think that the new Republican majority in the House will ignore this?

Fri, 08/27/2010 - 13:06 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

It's all about managing expectations.

There is a world of difference between manipulating public opinion and managing it. In fact, standards of what is a success and failure is much lower when managing opinion.

Fri, 08/27/2010 - 12:08 | Link to Comment Haywood Jablowme
Haywood Jablowme's picture

Cascade waterfall takedown.....

Can't wait till this b.s is over.  Default or devalue already. 

In the meantime, more time for me to prep and tend to crops on some newly inherited land off the white sandy beaches of the Philippine islands.  Actually looking forward to getting back to some real sweat-breaking work and producing real goods after being in the glorified paper shuffling finance industry for the last 6 years. 

We're a long way from ever bringing back a strong manufacturing base here to the US especially with all the damn yuppies concerned more about the number of iPad apps they have versus taking the time to understand what a CDO or a CDS are and paying attention to the legislation that affects small business.

Soon, this nation will be one consisting of an over-saturated market of nurses, road-pavers, and keyboard punchers for National ID cards. 

Having been born and raised here, I'm feeling myself drift away from the likes of this country as the end game that most of us here can see slowly unfolds with each passing day of crap data fed by the propaganda machine and shooting out of these sock puppet mouthes.

Time to pack the bags.  Heading for a more simpler world with a nicer view to wake up to and the mestiza women ain't too bad either :)

 

 

Fri, 08/27/2010 - 12:52 | Link to Comment Ripped Chunk
Ripped Chunk's picture

Pitchforks ????  Army surplus flame thrower  !! YEA!!!!

Sat, 08/28/2010 - 04:48 | Link to Comment tomdub_1024
tomdub_1024's picture

With my new/old welding gear, I can offer the best price for the highest quality pitchfork (and flame thrower, though at a premium price due to the risk of residual flammables) repair.

30 bankster/politician guarantee per repair!

:)

Fri, 08/27/2010 - 08:38 | Link to Comment Fred123
Fred123's picture

Gee, Obama is destroying our country? Wasn't that his plan from day one?

Fri, 08/27/2010 - 08:43 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Totally agree. Duh - Mort what the fuck did you expect.

Fri, 08/27/2010 - 08:57 | Link to Comment LeBalance
LeBalance's picture

Its the ex-Terminator!

For Mort to be railing against what he knows to be approved policy is extreme hypocrisy on his part.

Shadow caster!

Smoke Blower!

Fri, 08/27/2010 - 13:32 | Link to Comment sgt_doom
sgt_doom's picture

But Morty, he (President Obama) appointed all your buddies from the Trilateral Commission, I don't understand Morty's distress?

Fri, 08/27/2010 - 11:05 | Link to Comment Johnny Bravo
Johnny Bravo's picture

"Gee, Obama is destroying our country?"

So, when the camels back breaks, you'd rather blame the man that put on the final straw, instead of the people (Reagan, Bush) who were loading up the camel with gigantic hay bales for the last 30 years.

I see... 

Fri, 08/27/2010 - 11:09 | Link to Comment docj
docj's picture

Heh - funny how Mr. Billy "Dot Com Bubble" Jeff Clinton doesn't get a mention here - eh Bravo?

Fri, 08/27/2010 - 12:40 | Link to Comment RichardP
RichardP's picture

Clinton left the U.S. with a budget surplus.  How is that part of the problem?

Fri, 08/27/2010 - 13:36 | Link to Comment docj
docj's picture

1) No, he didn't.  Total US debt grew every year under Clinton.  He, like everybody prior and since, raided the "lockbox" SS fund to paper over the deficit.

EDIT: Self correction - debt dropped about $60B in 2000.  Grew every other yearly period before and since.

2) That the phantom "surplus" was built on a massive equities bubble - aka bubble economics - aka "the problem".

EDIT: Add - and let's never forget, he (with the help of Rubin, Summers, etc.) pushed for and actaully signed Gramm-Leach-Bliley.

Fri, 08/27/2010 - 18:57 | Link to Comment StychoKiller
StychoKiller's picture

Clinton used accrual accounting which amounted to wishful thinking on huge
tax receipts to *show* a balanced budget ON THE BOOKS, but in the future, not
in real life.  We did not have *cash* on hand or even equity on hand that would
have been tangible assets to "balance" our budget. However, starting with Reagan
(mid 80's)and continuing with Clinton (even with the then largest tax increase
in history) we were on a better path towards balanced budgets.  The disclaimer
there though.... we borrowed money to pay for pet projects, just as Bush II
became addicted to doing, because we knew SS and both Mediscare programs were
insolvent, so the budget was balanced "on the books" while the National Debt
(what we owe everyone else) went through the roof!

Fri, 08/27/2010 - 11:20 | Link to Comment ElvisDog
ElvisDog's picture

Johnny, good to see you back in the batter's box. The thing I find most curious about Obama is the complete unwillingness to not only admit that his stimulus and spending plans have not acheived the desired result, but also to make any changes to his game plan. The only thing he seems willing or capable of doing is to try to use his "oratory power" to convince people that his plan is working, that the economy is growing, when common folk can see with their own eyes that it is not true. It's fascinating because it's the worst thing he could do. A much better plan would have been to get in front of the problem, admit that it was bigger than he thought (i.e. blame Bush more). Lying to people just makes them angrier because it is an implicit admission that Obama thinks we are morons.

Fri, 08/27/2010 - 13:03 | Link to Comment ConfederateH
ConfederateH's picture

Well, well, well.  Now I understand Johnny Bravo.  He is studying to become a member of the professional left.

http://thepeoplescube.com/current-truth/the-professional-left-vs-the-ama...

Whats your degree in, Johnny?  Earth studies?  Transsexual self-awareness?

And once you are permanently ensonced in your lefty position of power, would your first move perhaps be to sieze the gold from everyone who had the good sense not to listen to your drivel?

I can see that you will go far in the Democrat party.

Fri, 08/27/2010 - 11:52 | Link to Comment ConfederateH
ConfederateH's picture

Zuckermann was 110% behind Obama. Now that Obama has turned on the jews (what a racist),  Zuckermann no longer likes Obama.    The first thing Zuckermann should be doing is appologizing for allowing his billions to be used to get Obama elected.  The next thing he should do is applogize for thinking like a one-track-minded New York jew.  And then he should be offering to double his personal tax rate to mitigate the misery of all those unemployed who lost their jobs because Zuckermann was so sure that Obama was the messiah.

Fri, 08/27/2010 - 13:10 | Link to Comment Cathartes Aura
Cathartes Aura's picture

people, do a little research if you don't already know who Mort Zuckermann is. . .

He posts his rants in the US News because he bought it (along with the New York Daily News), and is the editor-in-chief - it's his personal mouthpiece! He's a billionare with degrees from Wharton Business School and Yale - hello?

if that information isn't a red flag, then take note:

He is a member of the JPMorgan's National Advisory Board, the Council on Foreign Relations, the Washington Institute for Near East Policy, and the International Institute for Strategic Studies.

 

In their 2006 paper The Israel Lobby and U.S. Foreign Policy, John Mearsheimer, political science professor at the University of Chicago, and Stephen Walt, academic dean of the Kennedy School of Government at Harvard University, named Zuckerman a member of the media wing of the "Israeli lobby" in the United States.[16] Zuckerman replied: "I would just say this: The allegations of this disproportionate influence of the Jewish community reminds me of the 92-year-old man sued in a paternity suit. He said he was so proud; he pleaded guilty."[16]

President George W. Bush appointed Zuckerman to serve on the Honorary Delegation to accompany him to Jerusalem for the celebration of the 60th anniversary of the State of Israel in May 2008.

Mortimer is playing his well compensated role in shaping "public" opinion on behalf of his Zionist cohorts - whatever shit he's selling is on behalf of those who have been feeding off the work and savings of taxpayers since before you were born. . .if he's "fed up" with Obama, then those who own this nation state are sending you signals about their next moves!

Know Your Sources.

 

Fri, 08/27/2010 - 13:35 | Link to Comment sgt_doom
sgt_doom's picture

And the Bretton Woods Committee (brettonwoods.org) and Davy Rockefeller's Trilateral Commission.

Yup, ole Morty really gets around.

Mortimer to the subpeasants:  "Screw you." 

Fri, 08/27/2010 - 08:38 | Link to Comment LoneStarHog
LoneStarHog's picture

/Sarcasm On RACIST! /Sarcasm Off

Fri, 08/27/2010 - 08:40 | Link to Comment Translational Lift
Translational Lift's picture

WHY did it take these AZZZ-holes almost two years to figure this out???

Fri, 08/27/2010 - 08:42 | Link to Comment Moric
Moric's picture

Great piece

Fri, 08/27/2010 - 08:44 | Link to Comment Bearster
Bearster's picture

Good article.  But let me add a few observations:

 - Congress is elected by the people.  We don't have an occupation army forcing us to obey a hated dictator

 - Nearly everyone agrees that the government is wasting money, and if not for this it could balance its budget.  But the working definition of "waste" seems to be "everyone's else program" because most people have a favorite program (even most Tea Partiers support Social Security and that is one of the biggest liabilities)

 - People fret that "something" should be done, but I don't get the sense that they would approve of the short-term consequences if something meaningful were done.  I don't think people realize how deep and nasty the depression would be if the government truly withdrew from every aspect of its wealth-destruction program, again at least in the short term.

 

So we have the spectacle that nearly everyone is complaining, most are demanding that something be done to "fix" the economy, griping about "waste", and depending on the status quo for their particular favorite handout, regulation that squashes their competitor, etc.

Fri, 08/27/2010 - 09:00 | Link to Comment LoneStarHog
LoneStarHog's picture

The American people proved to me what whores they are back in the Clinton perjury and Monica episodes.

The rule-of-law and integrity of The Office of the President, let alone the sanctity of the physical Oval Office, meant nothing IF it benefited their portfolios.

Simply, whores get screwed!

 

 

Fri, 08/27/2010 - 09:10 | Link to Comment Mad Mad Woman
Mad Mad Woman's picture

You are so right in your observations.

Fri, 08/27/2010 - 09:28 | Link to Comment aerojet
aerojet's picture

- Congress is elected by the people.

 

You went off the rails right there and never made it back.  Elections in the US are a complete sham, have been for decades.  There is no meaningful reason to vote, it changes nothing at all.

 

As far government doing something, my fervent wish is that government would just do a whole lot less! 

Fri, 08/27/2010 - 11:07 | Link to Comment Johnny Bravo
Johnny Bravo's picture

I completely agree.

We have the choice to vote for one of two people.  WOW... that's one hell of a choice... especially when both choices are essentially the same anyway... 

Want to vote for the left hand of the beast or the right hand?
Does it matter?  The beast gets elected regardless.

Fri, 08/27/2010 - 15:12 | Link to Comment akak
akak's picture

I am (disturbingly) forced to agree with JB.

I've always said that there is something radically wrong with a system in which we have 100 choices in breakfast cereals, but are forced into only two (virtually identical) choices in politics.

Everyone who still buys into the false left-right political paradigm still remains the willing slave and useful idiot of The System.

Fri, 08/27/2010 - 09:31 | Link to Comment grunion
grunion's picture

I have a natural aversion for people who point fingers, accuse everyone else of selfish whining and offer not a whit of constructive insight . We know what the problems are, contribute something that might be useful for a change.

Fri, 08/27/2010 - 11:09 | Link to Comment Johnny Bravo
Johnny Bravo's picture

You mean you can't just fix the problems by voting no on everything?

Well... what about saying Obama is a muslim terrorist?
Will that fix the country?

I hope so.  TEE PARTY 12 YO!!!1!!111

Fri, 08/27/2010 - 12:45 | Link to Comment knukles
knukles's picture

There's somethin' about "elected" and "representative(s)" that you're missing.

Fri, 08/27/2010 - 08:45 | Link to Comment No Mas
No Mas's picture

"Obama must know that if he doesn't address this, he will be the president who drove us toward a debt crisis."

He cares?  Lobster for everyone (in his family that is).

Fri, 08/27/2010 - 09:07 | Link to Comment Chemba
Chemba's picture

I thought it was "shrimp", no?

Fri, 08/27/2010 - 09:17 | Link to Comment Translational Lift
Translational Lift's picture

LET THEM EAT LOBSTER...................

Fri, 08/27/2010 - 08:53 | Link to Comment rapier
rapier's picture

Well there is only one possible answer. Bomb Iran. 

 

Zukerman has no more credibility than Cramer.  What about the trillion we blew in Iraq and Afghanistan so he could jerk off to dreams of dead Muslims?  Was that responsible. The current deficits were inevitable when the economy lost its bubbles. During which time in the 00's the debt doubled to 10t  from 5t and he probably made hundreds of millions on the RE boom.  Did you see Mort bitch about that?  Hell no. 

I know ZH will print up most anything written by someone who sounds like their hair is on fire but isn't it about time to get a bit responsible. 

 

Fri, 08/27/2010 - 11:15 | Link to Comment BobWatNorCal
BobWatNorCal's picture

Scroll down to see a chart that shows the deficit and what part of the deficit is due to the Iraq War. Sorry, no offense, you've been had.

You're right about Mort, though, of course.
http://www.americanthinker.com/2010/08/iraq_the_war_that_broke_us_not.html

Fri, 08/27/2010 - 12:52 | Link to Comment knukles
knukles's picture

Suggest you check out today's Telegraph.  Yemen's next

Fri, 08/27/2010 - 13:38 | Link to Comment sgt_doom
sgt_doom's picture

Haven't the Russians taken over the planet with all those killer satellites of theirs?

Oopsy, I guess all those planted stories in US News & World Report were wrrrooooonnnggg!

Morty, shame...shame...shame on you!

 

Fri, 08/27/2010 - 08:58 | Link to Comment HungrySeagull
HungrySeagull's picture

Well, don't worry bout the spending too much money part, worry about too much debt.

For those who are not in debt, they are free.

Reminds me of stories of German workers carting wheel barrows of payroll each day before ww2.

 

Yes the USA has spent this kind of money before, it's not being able to afford the hangover cures tomorrow that is worrying alot of people right now.

Fri, 08/27/2010 - 08:57 | Link to Comment Heroic Couplet
Heroic Couplet's picture

What bullcrap. Alan Greenspan and Bush's dimwit US Labor Secretary, Elaine Chao, both chirped "health sciences" as the only jobs left in the US, planned US job destruction. Greenspan is the mouthpiece for the private bank cartel, the Rothschilds, Rockefellers, Warburgs.

Obama has nothing to do with it; the Bush tax cuts have been in effect during the past 2 years, and for the previous 8, and have not created jobs. The private bank cartel, the Federal Reserve are the proper focus, and they are not elected.

 

 

 

 

 

 

Fri, 08/27/2010 - 10:26 | Link to Comment SRV - ES339
SRV - ES339's picture

Seems most don't like the truth here HC... please don't forget, this was all Obama's fault!

I couldn't agree more about the "gang that can't shoot straight" but, while they can and should be hit hard, they did not create this mess. Where were the protesters while the country was sold down the river (since Reagan and earlier) in the name of corporate profit and stock market gains? The Zuckerman's of the world were too busy counting their money, and hiring illegals to do their dirty work, to care about the damage being done to the rest of society.

Funny how Mort goes after Social Security and Medicare (serious stuff, but really just a demographic problem that could be solved with a fraction of the deficits we've run to save the banksters), but where's the case against the $700B and ZIRP (etc) for the banksters... oh sorry, he's up to his eyeballs taking profit from that stuff isn't he... what was I thinking?

Fri, 08/27/2010 - 10:58 | Link to Comment Montgomery Burns
Montgomery Burns's picture

  +1000

Fri, 08/27/2010 - 13:40 | Link to Comment sgt_doom
sgt_doom's picture

"Obama has nothing to do with it.."

Technically, everything is correct until you reach the above phrase:  sure, everything was pure crap when Obama came into office, but he didn't pull a Roosevelt, instead he appointed all those neocons and neolibs responsible for creating and supporting this crapfest.

That is where you refuse to face reality, my friend.

Sat, 08/28/2010 - 04:57 | Link to Comment tomdub_1024
tomdub_1024's picture

exactly....

Fri, 08/27/2010 - 08:58 | Link to Comment Heroic Couplet
Heroic Couplet's picture

What bullcrap. Alan Greenspan and Bush's dimwit US Labor Secretary, Elaine Chao, both chirped "health sciences" as the only jobs left in the US, planned US job destruction. Greenspan is the mouthpiece for the private bank cartel, the Rothschilds, Rockefellers, Warburgs.

Obama has nothing to do with it; the Bush tax cuts have been in effect during the past 2 years, and for the previous 8, and have not created jobs. The private bank cartel, the Federal Reserve are the proper focus, and they are not elected.

 

 

 

 

 

 

Fri, 08/27/2010 - 08:58 | Link to Comment SamuelMaverick
SamuelMaverick's picture

 "The liberals will have to concede that benefits and spending ought to be reduced. Conservatives will have to concede the need for higher taxes."                   I call bullshit on the higher taxes nonsense. The Federal and (most) state governments have had and continue to have a massive spending problem. They need to fix the problem, not create another one.

Fri, 08/27/2010 - 09:08 | Link to Comment SheepDog-One
SheepDog-One's picture

'Higher taxes' so theyre going for the bootheel on the peasants necks economic model? In case they havent noticed, you cant get much blood from a dehydrated turnip. Where exactly do they think higher taxes will come from? The 30% unemployed or those still in business who have cut to bare bones operation just to stay alive? Higher taxes my ass. And I'll eat my hat if this GDP hype nonsense produces a green day at close, all BS.

Fri, 08/27/2010 - 09:36 | Link to Comment grunion
grunion's picture

+1000

Fri, 08/27/2010 - 11:54 | Link to Comment LauraB
LauraB's picture

+1000

Sat, 08/28/2010 - 05:17 | Link to Comment tomdub_1024
tomdub_1024's picture

"those still in business who have cut to bare bones operation just to stay alive?"

That would be me, I sooooo need to hire some people, but I just cannot make a business plan around what may, or may not, be coming down the road.

healthcare benefits taxed? or not? payroll taxes increasing? or not? if so, how much? do I hire all "part-timers" to avoid having to pay the increased healthcare and payroll taxes, much as I hate to not provide for the employees? will my costs increase with some new "legislation"?

Bottom line, there are WAY TOO MANY future unknowns, based upon the experience of the last 2 (to 20 years) of reckless unread legislation for me to hire who I need/want to. I just can't run a business with all the capricious laws/changes being crammed down. I want to hire, I want to support my community, to be the "responsible capitalist" of olden or idealist days...

I just don't know what the fuck they are going to do next.

In an irrational environment, I cannot make rational business decisions, except for "lock, load, hunker down, get by with what you have currently, wait it out until sanity returns".

I am a small business employee and equity holder, the above is my reality.

Sucks, absolutely sucks, and I wanted to do so much more.

Sat, 08/28/2010 - 05:32 | Link to Comment tomdub_1024
tomdub_1024's picture

</rant off, sorry, my usual reserved idiom gave way to my id>

Fri, 08/27/2010 - 09:02 | Link to Comment william the bastard
william the bastard's picture

The op-ed of Mort's you attribute to yesterday is over a week old. I'm quite sure.

Fri, 08/27/2010 - 09:02 | Link to Comment Blano
Blano's picture

More taxes is just BS.  Revenue has NEVER been the problem.

You helped get this guy elected, Mort.  Now STFU.

Fri, 08/27/2010 - 09:05 | Link to Comment Chemba
Chemba's picture

And yet, Barney Frank will be reelected.  Nancy Pelosi will be reelected.  While the socialist party (d.b.a. "Democratic Party") will lose seats in Nov, it won't matter, particularly since many republicans are also socialists, e.g. Collins, Snowe, Brown, etc.

The truth is that America has become a socialist country.  The American people elect the socialists into power, and they are getting exactly what they voted for.

Go talk to some public sector union rank & file - teachers, firemen, cops, federal/state/local paper pushers and bureaucrats - and you'll see.

Fri, 08/27/2010 - 09:58 | Link to Comment docj
docj's picture

Substitute the word "fascist" for your uses of "socialist" and I couldn't agree more.

Fri, 08/27/2010 - 12:55 | Link to Comment knukles
knukles's picture

Doesn't that mean we all get to ride in limos?

Fri, 08/27/2010 - 13:49 | Link to Comment sgt_doom
sgt_doom's picture

Listen whacktard, try reading a book for a change.

If you don't comprehend the difference between socialism, a socialist democracy, and what America is, a Socialist Plutocracy, kindly quit commenting here.

The literacy and educational levels are considerably and generally much higher here than you, Chemba.

How I wished America was a socialist democracy, or even a true socialist country.

Monopolism isn't capitalism, and whatever became of that vulgate form of semi-capitalism, anyway?

'Nuff said....

Fri, 08/27/2010 - 13:54 | Link to Comment docj
docj's picture

Not to pick nits Sarge (especially considering I'm not really a PolySci sort of fella), but why would we be a "Socialist Plutocracy" and not a "Fascist Plutocracy"?

Aside from health insurance - nontrivial though that is - I'm not seeing a lot of direct ownership of the means of production here.  Am I missing something?

Or is that a hair that really needs not be split.

Fri, 08/27/2010 - 17:00 | Link to Comment sgt_doom
sgt_doom's picture

I'm referring to socialism for the super-rich, with the rest of us on our own.

Or, one could phrase it as the Corporate Fascist State, I'm just used to repeating Michael Parenti's Socialist Plutocracy, which I kinda like!

Fri, 08/27/2010 - 21:20 | Link to Comment docj
docj's picture

Fair enough.  I equate "socialism for the super-rich" with fascism which is perhaps not technically correct.  So I suppose at this point it's really a distinction without a difference.

Cheers -

Fri, 08/27/2010 - 09:06 | Link to Comment Mad Mad Woman
Mad Mad Woman's picture

And the 2 terms of Bush were what Mort?   Mort is losing his marbles.

Fri, 08/27/2010 - 09:06 | Link to Comment juno9604
juno9604's picture

Sounds like another rich-guy cry baby; i'm not making any money on my fixed income investments and my taxes might go higher...wah! wah!.  Too bad rich dude, you may even have to help your country instead of siphoning off her!

Fri, 08/27/2010 - 09:38 | Link to Comment grunion
grunion's picture

What's s fixed income investment? <sarcasm off>

Fri, 08/27/2010 - 12:56 | Link to Comment knukles
knukles's picture

The gubamuint spendin' $0 on you forever.

Fri, 08/27/2010 - 09:07 | Link to Comment ATTILA THE WIMP
ATTILA THE WIMP's picture

Mort Zuckermam is a member of the CFR

http://www.nndb.com/people/629/000024557/

and a Bilderberger

http://www.biblebelievers.org.au/bball.htm

Fri, 08/27/2010 - 13:18 | Link to Comment Cathartes Aura
Cathartes Aura's picture

no, sorry anonymous junker, this is all true.

de-junked.

Fri, 08/27/2010 - 09:08 | Link to Comment Mad Mad Woman
Mad Mad Woman's picture

Didn't Mort go to Bildaberg?  He should know that this is part and parcel of the plan. I guess they excluded Mort for a reason.  LOL!!!!

Fri, 08/27/2010 - 09:09 | Link to Comment The Alarmist
The Alarmist's picture

Gee, we could start by prioritising the budget based on what is actually an enumerated power of the federal government versus what is deemed to be "necessary and proper" versus that deemed to be "providing for the general welfare" and finally by what is deemed to "regulating interstate commerce."  We could also afford to lose baseline budgeting, especially where we assume rates of growth well in excess of the rate of inflation and the rate of population and GDP growth.

How can you say "spending cuts won't work" when anything that actually looks like a spending cut has never even been tried?

Fri, 08/27/2010 - 11:57 | Link to Comment LauraB
LauraB's picture

+1000

Fri, 08/27/2010 - 09:09 | Link to Comment rufusleaking
rufusleaking's picture

Mort's an asshole. Chickenshit/hawk who is bitching because his ass is in a sling.  Typical neocon.  It's everybody else's fault.  

Fri, 08/27/2010 - 10:18 | Link to Comment bigking12345
bigking12345's picture

asshole, Mort and his rags endorsed Obama and every democrat for the last 30 years, douche.

Fri, 08/27/2010 - 10:19 | Link to Comment bigking12345
bigking12345's picture

asshole, Mort and his rags endorsed Obama and every democrat for the last 30 years, douche.

Fri, 08/27/2010 - 09:12 | Link to Comment dcb
dcb's picture

it is difficult for me to listen to anyone that doesn't include military spending his their analysis, or corporate subsidies.

I agree with the overall flavor, just don't like it when it is so easy to see through what they say.

"it is OK to spend on the wealthy and the corrupt corporate/financial oligarchy along with the military indusrtial complex. it isn't Ok to spend on social security, medical care, food stamps.

How about the topic of PORK. getting rid of all those nice line items that are inserted to benefit one person campaign contributer. He acts is if the bush years were one of fiscal restraint and well managed budgets instead of overwhelming corruption and wars fought off the books. I guess we should go back to that.

"we need fiscal restraint, just not to anyone I know or socialize with who would benefit"

Fri, 08/27/2010 - 09:12 | Link to Comment Oswald Spengler
Oswald Spengler's picture

Let's not make this partisan people. Both political parties are to blame pre Obama. But Obama is a communist. He thinks America is a mean, racist country, and means to change it to reflect his notions of equality and redistribution. This includes the reduction of the American footprint and movement toward global governance. If the American people have proved anything, they deserve this POS. 

Fri, 08/27/2010 - 09:20 | Link to Comment SamuelMaverick
SamuelMaverick's picture

+1

Fri, 08/27/2010 - 09:35 | Link to Comment petridish
petridish's picture

Communist??  Obama is a TOOL of the corporatists.  It's just more obvious than with Bush or Clinton or REAGAN because the game is almost over.

Fri, 08/27/2010 - 09:40 | Link to Comment grunion
grunion's picture

He's a tool...You'll get no argument there.

Fri, 08/27/2010 - 11:33 | Link to Comment ElvisDog
ElvisDog's picture

Reduction of America's footprint??  How does that jibe with the expansion of the war in Afghanistan? Have any military bases been closed?

Fri, 08/27/2010 - 09:17 | Link to Comment bernorange
bernorange's picture

Lord Vader finds Mort's lack of faith disturbing.  Have we already crossed the Rubicon?

Fri, 08/27/2010 - 09:19 | Link to Comment Gordon Freeman
Gordon Freeman's picture

Don't give ol' Mortone too much credit.  If anything, he is one of the world's great hypocrites, as he is a five-star General in the World Elite, and is fully responsible for his role in this evolving fiasco

Fri, 08/27/2010 - 09:31 | Link to Comment powersjq
powersjq's picture

Hear, hear!  And the whole "Most [insert hyperbolic adjective here] in history" line may impress undergrads in an intro history survey, but please.  It makes for a pretty, pompous sound bite, but it just screams intellectual lightweight.  Reagan and W. have more to do with today's deficits than Obama.  And for other forms of fiscal irresponsibility (read: escalating unwinnable wars), Johnson and Nixon come to mind.  What an ass.

Fri, 08/27/2010 - 09:46 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

I think you want huff post, we here on ZH understand this issue is not limited to one party..so fucking tired of these shills.

Fri, 08/27/2010 - 13:23 | Link to Comment Cathartes Aura
Cathartes Aura's picture

not everyone here is on the same page re: political parties, and one-government in amrka, tho' it's way past time to get that truth into your awareness.

the "shill" is the OP.

Sat, 09/04/2010 - 18:50 | Link to Comment powersjq
powersjq's picture

No doubt that all political parties everywhere are to some degree irresponsible, imprudent, and corrupt.  The idea that both parties in the US during the past 30 years are equally irresponsible, imprudent, and corrupt is part of the big lie. Prudent democracy usually means choosing the lesser of evils, right?  Both US parties are monstrous in many ways, but if you write off the problem of finding some intelligent and incisive way to discriminate, you're effectively claiming that democracy is too hard for you.  Or you're not trying hard enough.

Personally, I think it's the GOP that benefits most from this line of propoganda, that both parties are equally corrupt.  But your mileage may vary.  But it's bullshit either way.  We the people: our country, our choice, our responsibility.  The buck stops with us, not the with prez.

Sat, 09/04/2010 - 18:54 | Link to Comment powersjq
powersjq's picture

And the Huff Post has its use, just as Fox News does.  That a news publication has a bias is, in fact, a point in favor of it, since it makes it aggressive in defending its bias.  Aggressive is good, when it comes to news reporting.

And learn what the word "shill" means before you sling it.  I barely even qualify as a partisan...

Fri, 08/27/2010 - 09:20 | Link to Comment Robslob
Robslob's picture

IF THE GOVERNMENT OFFICIALS WERE PAID BY PERFORMANCE NO ONE WOULD WANT THE JOB....

Fri, 08/27/2010 - 09:27 | Link to Comment ZeroPoint
ZeroPoint's picture

Last time I checked, the lion's share of this disaster falls on the banks and the credit rating agencies, and yet no one is talking about that, and no one is getting prosecuted, except perhaps Madoff, who's financial crime is a single droplet in a sea of other financial crimes, mismanagement, and the misery debt created by greed.

 

 

Fri, 08/27/2010 - 09:29 | Link to Comment csmith
csmith's picture

The United States simply seems to lack a system that can fund the government that the people say they want.

 

The "government" and "the people" are one in the same. True leadership INFORMS the people of this, and lets them know what is and is not affordable.

Fri, 08/27/2010 - 09:35 | Link to Comment lupin
lupin's picture

Instead of focussing on the people in power, and pointing them out as irresponsible, it might be useful to look at the irresponsible people as a symptom instead of a cause. The US democratic system has gotten so corrupt that no matter who you put into power, the outcome will be similar. Until the various lobbies can be shackled somehow, it will be very hard to achieve anything close to responsible governments. Republicans versus democrats becomes a phony debate, no matter who you elect, they have very limited maneauvering room to change anything.

Fri, 08/27/2010 - 09:44 | Link to Comment Azannoth
Azannoth's picture

By the end of his presidency Obama will make 10s of millions of dollars and than much more after he retires, he could not care less about his legacy, he has enough money to play basketball(for free) the rest of his life, HE DOES NOT CARE

Fri, 08/27/2010 - 11:31 | Link to Comment Blues Traveler
Blues Traveler's picture

And smoke cigarettes and pray 5 times a day

Fri, 08/27/2010 - 09:44 | Link to Comment P-K4
P-K4's picture

This is Zuckerman losing it ? I think I'd be more frightened by Betty White.

As for the scathing criticism of Ohbuma, David Letterman surpassed that this week when he said  "[Obama] will have plenty time for vacations after his one term is up."

 

Fri, 08/27/2010 - 09:48 | Link to Comment lbrecken
lbrecken's picture

piss on him.......dont give him an ounce of credibility.

Fri, 08/27/2010 - 09:49 | Link to Comment janchup
janchup's picture

Obama acts intentionally. These are not policy errors. Change we can believe in requires destruction of the old forms, ways and methods.

Fri, 08/27/2010 - 09:53 | Link to Comment Azannoth
Azannoth's picture

He's just a poor black man who 'made it' he will lick and kiss any ass that gave him the presidency, and we all know what that was (Bilderberg)

Fri, 08/27/2010 - 09:51 | Link to Comment sbenard
sbenard's picture

He blames it all on just poor leadership? He doesn't seem to realize that this is all PLANNED! I know because I met a man who was part of the planning process. They WANT to destroy the U.S. economy and Constitution so they can "fundamentally transform" it into something very different. I was told this 5 years ago!

Fri, 08/27/2010 - 09:55 | Link to Comment Azannoth
Azannoth's picture

A monkey would make better policy decisions you're right this has to be planned

Fri, 08/27/2010 - 09:54 | Link to Comment 7againstThebes
7againstThebes's picture

Our political culture is incapable of reflecting the interests of most Americans. The transmission mechanism between people and political process is broken. It was in part broken by Jews. They had to do it in order to get Washington to give immense support to Israel, a country of no value, no use, and no interest to 97% of the population.

 

That the Jews found ways to neutralize the interest of most Americans, in order channel a level of support to Israel so large as to be bizarre, is a testament to their energy and genius. However, there are consequences.  In breaking down our resistance to them, the Jews broke down our resistance to all well organized interest groups. Politically speaking we are HIV positive. We have no resistance. The politician who sells out his country to Israel will sell out his country to bankers, Pentagon contractors and anybody else. 

 

Now Zukerman comes along, and tries to get out in front of the catastrophe that his tribe has had no small part in creating. Typical.

 

Fri, 08/27/2010 - 13:27 | Link to Comment Cathartes Aura
Cathartes Aura's picture

anonymous junkers dejunked - if you have an argument with this post, come out from behind your megaphones and MAKE it.

Fri, 08/27/2010 - 10:08 | Link to Comment AssFire
AssFire's picture

The wrong people are having lots of kids and the taxpayers are paying for it- generations of people (well, sub-humans in many cases) who have never worked at anything but getting more from the system. Having children we have to pay for is not a right.

Wars and war on drugs totally bogus and that goes for the 20+ homeland security sinecure rich agencies. Paying the ISI to help the Taliban stage attacks..keep up the appearance of an organized enemy when the rest of the world knows BinLaden is dead.

So liberals and conservatives have both contributed to the demise. Meanwhile the taxes are just getting started.. They tax the internet based on usage in France, They tax the air waves in Germany (receiving television).. As much as we would hope both the entitlement and defense industries be reduced- it wont happen.

Just let is all go to shit so we can restore state's rights and return to a republic.. Dow under 10K! crash baby crash!

 

Fri, 08/27/2010 - 10:12 | Link to Comment juno9604
juno9604's picture

Who are the "wrong people"?  Let me guess - you're packing up you pickup and mean dog to come and see Faux news Facists on the mall!

Fri, 08/27/2010 - 10:36 | Link to Comment AssFire
AssFire's picture

The wrong people only drink the water and have never carried it. Don't fall for the repub/Fox VS the lib/MSM... that is their game to separate us from what needs to be done.

They take away your drivers license if you drive recklessly.. maybe it is time they tie some tubes if you are nothing but a breeding drain on the nation.

Fri, 08/27/2010 - 12:56 | Link to Comment Ripped Chunk
Ripped Chunk's picture

+ 10,000

The Dem/Repub - Lib/Con made for TV battle is nothing more in concept than WWE Wrestling. Outcome known. The owners of the franchise win.

VOTE EM' ALL OUT ANYWAY. THEN VOTE THE NEXT GROUP OF JERK OFFS OUT AND THE NEXT etc. etc.

Fri, 08/27/2010 - 10:14 | Link to Comment ranrun
ranrun's picture

The only good years were Clinton's.

He created the tech bubble.  Which is why Bush create the housing bubble.  Bush didn't want Clinton's tech bubble to sour his presidency.

And I don't know how they are going to raise taxes without creating mass emgration problems.  It'll be all too inronic.  People leaving do to lack of freedom.

 

Fri, 08/27/2010 - 11:12 | Link to Comment Cpl Hicks
Cpl Hicks's picture

Clinton didn't create the tech bubble and Bush didn't create the housing bubble.

The tech bubble was created by small bunch of fools followed by a large bunch of greater fools (some of whom are readers and posters here, myself included) who believed silly things like the future of grocery shopping was online followed by delivery to your front door and sock puppet dogs on tv selling something.

The housing bubble clearly goes back to the late '70s, growing in fits and starts thru 2008, with it's greatest growth years in the '90s- at least that's the way it played out here on the left coast.

Oh, and by the way, learning to spell would improve your message.

Fri, 08/27/2010 - 10:22 | Link to Comment Shiznit Diggity
Shiznit Diggity's picture

More fiscally irresponsible than the "deficits don't matter" Bush administration? I didn't think that was possible.

Fri, 08/27/2010 - 10:45 | Link to Comment Madhouse
Madhouse's picture

Destruction has been a long time in the making. The Social Security commission in the early 80s (headed by er, Greenspan) effectively gave politicians 14% more revenue, which they gored on, tasted blood and then a new level of depravity set in  -  baby boomers wanted lower taxes and more entitlements, services, military, etc, etc. Pols gave it to them to preserve their terms. A technology boom and the peak of baby boomer spending helped Clinton but decay festered under the core. 9/11 arrives. The Bush insanity ensues and by 1/20/09 the country is in shambles. There is no denying that. Out of control military spending - a fucking $1 trillion in Iraq alone - is the tipping cart. Dems equally guilty except for the very few who opposed the Iraq war. The housing crisis was an all around blame. Ron Paul, despite speaking the only logic of the 2008 campaign is drowned out. The AIG bailout, and its backdoor bailout of GS was a disgusting discrace and Paulsen knows it. Bush was too stupid to know it. Many voted for Obama because they feared the idiocy of Palin and McCain, the man who perked up when asked about questions on war but seemed bored with issues about the economy, even admitting he did not have a grasp on econ issues (anything to do with his arrogance as

So, we get Obama and little changes on the fiscal front. Military spending goes up, another stimulus package - much of it pissed away, stuffing through a healthcare bill just for the sake of saying he could, gaffes galore, but overall probably better than Palin/McCain where we certainly have had a second stimulus too, but probably a more chaotic geopolitical situation.

The man needs to really understand that he needs to lead us out of this - no one else can. Impeachment talk is stupid as it won't happen. If it takes a scarifice of his second term to do it, then do it. Cut 25% of the budget over the next 5 years and convince everyone that term limits and campaign reform are his priorities for the next 2.5 years, not his re-election. And let's see some D.C. perp walks and incompetence firings - otherwise, just the stock market, citizens increasingly see that the game is rigged and write rants like this one. One need only look at the last person who "set up" a win for his second term and he his name is avoided by all including the very most vocal in his party because of his obviously disastrous second term.

 

Fri, 08/27/2010 - 10:45 | Link to Comment johnnymustardseed
johnnymustardseed's picture

When only 10% of GDP is manufacturing. Who sent those jobs to China? Democrats or Republicans. Republicans were for deficits before they we against them. They have not offered one solution to the problem. It is all crap to take back congress. If McCain had been elected we would be in a war with Iran. $20 a gallon gas would be wonderful for their oil buddies. Hate gays ,kill muslims and scare people that is the GOP...pathetic

Fri, 08/27/2010 - 11:02 | Link to Comment docj
docj's picture

Republicans were for deficits before they we against them.

I suppose Democrats are still for deficits then?  The fact that this bunch of criminals make the last bunch of criminals look like pikers not withstanding, of course.

They have not offered one solution to the problem. It is all crap to take back congress.

Two quickies:

1) Yep - blame the utterly powerless numerical CONgressional minority.  That's the ticket.

2) Welcome to the corner of "Pay" and "Back" for 2006, chump.

Bury that Rep/Dem manufactured paradigm in the back-yard, son.  Then salt the earth where you burried it.  You'll feel better.

Fri, 08/27/2010 - 11:26 | Link to Comment Cpl Hicks
Cpl Hicks's picture

"Welcome to the corner of "Pay" and "Back" for 2006, chump."

Good one! I've been explaining to people for 3+ years that the proximate cause of our current fiscal 'troubles' is the Democratic takeover of Congress in 2006.

Fri, 08/27/2010 - 11:37 | Link to Comment docj
docj's picture

It annoys me to no end that people are shocked (SHOCKED, I say)when  politicians - more specifically, politicians they don't support - play politics.  Or, similiarly, that politicians they support would never, ever stoop to such games.

Want to solve the problem?  Want the kids to "stop playing politics"?  Stop sending them trillions in Other Peoples' Money to throw around.

Fri, 08/27/2010 - 11:04 | Link to Comment trav7777
trav7777's picture

This is just the camel's nose of austerity.

see, rich tribers like Mort own a TON of claim tickets to the upcoming liquidation in the form of USTs.  They want them ALL PAID BACK.  Out of your kids' organs if necessary.

Notice how they've shaped the public opinion toward "let's slash and burn and suffer."  We see this on ZH where there are people who are actually begging for mass suffering to come.

Austerity is the IMF's prescription for looting via deflation.  DO NOT BE MISLED by it.

The solution is to ABANDON the debt model and repudiate the claim tickets of shylocks like Mort.  Look, what Rothschild figured out is that if he could start a money-as-debt racket, the math would inevitably bankrupt the sovereign and then he could own the whole fucking country.  That is the POINT of usury!  For fuck's sake, recognize that. 

The whole POINT of tribe carpetbaggers in the south was to lend to blacks for the PURPOSE of acquiring their entire years' worth of sharecrop!  It's a way to make your MONEY work so that you do not have to.  And the con is so insidious that you can make PRETEND money turn into real things WITHOUT work.  It is the way of the PARASITE.

Only the very intelligent understand the mathematical inevitability of usury.  The stupid simply see the rich getting richer without working while the poor work harder and harder and go backwards.  Institutional Usury lets money "make" money without work and it INEVITABLY bankrupts the poor and stupid...this is why it and its purveyors have been reviled as con artists throughout history.

Usury mathematically leads to bankruptcy and liquidation.  Once the machine of geometric compounding is set into motion, there is a very short window to get out, after which it CANNOT be stopped and will proceed to its final, foredestined outcome.

Fri, 08/27/2010 - 11:34 | Link to Comment Blues Traveler
Blues Traveler's picture

Good post Brother Trav

Fri, 08/27/2010 - 13:57 | Link to Comment Cathartes Aura
Cathartes Aura's picture

excellent post trav777. . . particularly the paragraph that simplifies the parasitical nature of USURY.

so good was your argument,  it attracted the same 3 anonymous junkers that seem to have attached themselves to this thread, so

dejunked for truth.

Sat, 08/28/2010 - 21:01 | Link to Comment tomdub_1024
tomdub_1024's picture

The irony is that this mathematical endgame has been known for 1000's of years...every major religion has proscriptions against usury in their texts...

I don't remember learning this in church school or sermons...it wasn't until I started my spiritual quest that I read all the major religion's canons (and those writings not included in the "official" canons) that I discovered this common ground. It's been right there in front of us all this time...

Fri, 08/27/2010 - 11:22 | Link to Comment obewon
obewon's picture

we, the little people, are grateful that there's some rich folk who are finally exposing the truth . . .

Fri, 08/27/2010 - 12:12 | Link to Comment Milestones
Milestones's picture

I confess to being an economic neophyte. Having said that, the only logical step that I still see as viable to have any chance of salvaging something for joe sixpack is a total nationaliztion of our banking system with the Treasury sans Timmy, Bennie etc to sieze the Federal Reserve, ASAP.

The world economic system will crash; but it has already crashed-we just don't have the Obit's yet. The Bastards will get mucho $$ but it can all be regained. If the Jews could track down the Germans back in the 60's and 70's we can damn sure do it to these clowns with GPS, Internet etc.

We will at least have cleared the air and the books of the bullshit so that where we are will be somewhat known. We will have a 5 year fuckfest but the game will be back on the table for the world to see. We must have transparancy or the whole thing is a long walk off a short pier

The $ people will be answerable as well as Joe taking his normal share of the screw over. We are going to have to bite the bullet sometime. Better now than later when the bullet will have grown to an artillery shell.    Milestones

Fri, 08/27/2010 - 12:16 | Link to Comment linrom
linrom's picture

Usury is not the principal method of theft: the stock market is. Some of the wealthiest individuals in the world are CEOs who amassed fortunes via stock and equity options wealth transfer. Even during the late part of credit boom the object of 'credit cavarliers' are fees which are collected immediately and not the stream of interest income spread over the future.

Military spending is an usury on the population. The military needs to be made up of civic minded volunteers again and citizen-soldiers via draft or lottery  Nothing good ever came out of standing professional armies. We're spending almost all of our tax receipts on defense.

 

Fri, 08/27/2010 - 14:05 | Link to Comment Cathartes Aura
Cathartes Aura's picture

while I agree in principle with your post, just a small quibble:

We're spending almost all of our tax receipts on defense.

I wouldn't call the resource invasions amrka wages against other'd peoples "defense" - it's colonialism, same as it always has been, just has an upgraded moniker.

but you're right, that's where a huge portion of taxed amrkn workhours goes.

Fri, 08/27/2010 - 13:27 | Link to Comment sgt_doom
sgt_doom's picture

Poor Morty, ever since that issue of US News & World Report -- you know, that propaganda drivel nobody actually ever reads -- with Cheney on the cover and the description of that candy-assed draft-dodger as being "tough" bombed and sold no issues, Morty's been a really bad, bad mood.

We're all sorry for your Morty, no go back to your luncheons with the Bretton Woods Committee (brettonwoods.org) and the Trlateral Commission.

Do your bad case of the heebie-jeebies good.

Fri, 08/27/2010 - 13:57 | Link to Comment Grand Supercycle
Grand Supercycle's picture

As first suggested on Thurs 26th, further upside for DOW/SP500 is expected.

http://stockmarket618.wordpress.com

Fri, 08/27/2010 - 13:59 | Link to Comment midtowng
midtowng's picture

Obama's crime isn't that he "drove us to a debt crisis". Bush did that. Obama's crime is that he didn't realize that "change" required more than just words.

Fri, 08/27/2010 - 18:31 | Link to Comment pyite
pyite's picture

Go Mort Go!!  Hopefully he can actually get through to the Administration.

I am a fan of Obama in general, but his economic team sucks hard.

Fri, 09/03/2010 - 14:50 | Link to Comment No More Bubbles
No More Bubbles's picture

Yadda yadda yadda.........

Thu, 09/30/2010 - 02:47 | Link to Comment Herry12
Herry12's picture

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