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"No Easy Off-Ramps" - Compare And Contrast

Tyler Durden's picture


"I will veto any effort to get rid of the automatic spending cuts... No easy off-ramps on this one. We need to keep the pressure up to compromise. Not turn off the pressure. Only way the spending cuts will not take place is if congress gets back to work and agrees on a balanced plan to reduce the deficit by at least $1.2 trillion. That is what they need to do. That’s the job they promise to do"

- Barack Obama, November 21, 2011


Fast forward to....

With our economy poised to continue to strengthen this year, the President will make clear that we can’t see another self-inflicted wound from Washington. The President will urge Congress to come together and act to ensure these devastating cuts to defense and job-creating programs don’t take effect.

- White House statement, February 5, 2013

.... and

"The threat of massive automatic cuts have already started to affect business decisions.  Deep indiscriminate cuts to things like education and training, energy and national security, will cost us jobs and it will slow down our recovery.... It’s not the right thing to do for the economy, it’s not the right thing for folks who are out there still looking for work. And the good news is this doesn’t have to happen.... [Congress] should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until Congress finds a way to replace these cuts with a smarter solution.

- Barack Obama, February 5, 2013


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Fri, 02/08/2013 - 14:51 | 3226565 Flakmeister
Flakmeister's picture

Kubuki theatre...

Fri, 02/08/2013 - 14:54 | 3226573 TruthInSunshine
TruthInSunshine's picture



"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."


Senator Barack Obama (D-IL)

March 16, 2006

Official National Debt at that time: 8 trillion USD

Fri, 02/08/2013 - 14:57 | 3226582 bigdumbnugly
bigdumbnugly's picture


"I will veto any effort to get rid of the automatic spending cuts...  

change that to 'automatic weapons' and he's starting down the right path at least

Fri, 02/08/2013 - 15:18 | 3226675 Dr. Engali
Dr. Engali's picture

Speaking of automatic weapons:


Sorry all you Californians....they want you loading your guns one bullet at a time.

Fri, 02/08/2013 - 15:28 | 3226714 fonzannoon
fonzannoon's picture

That is just nuts. Their poor cops don't stand a chance with those muskets against the bad guys who don't turn their weapons in.


Fri, 02/08/2013 - 19:47 | 3227584 trav777
trav777's picture

Congress is gonna say yeah nigga pleeze, wtfever. 

YOUR TURN bitch.  This guy is goin lame duck quicker than any 2nd termer ever....he didn't even have the fuckin balls to do the gun control thing; gave it to biden and they came up with JACK SHIT.

Obama is a do nothing person with a do nothing affirmative action queen show up and take applause life.  I don't blame him for bein a chump and makin all the paper he can make.  The fault is those who voted for him.

the US needs to partition...there's just no common ground to be had.  Bama and the Detroiters are just like the ZIM chick at a low level; she was just HONEST.  Clap hands for the white man for all the shit he built, now WE are gonna ENJOY IT.

Sat, 02/09/2013 - 00:33 | 3228207 jeff montanye
jeff montanye's picture

he was also going to have the most transparent administration in history and close down gitmo.

Sat, 02/09/2013 - 01:10 | 3228237 All Risk No Reward
All Risk No Reward's picture


1. Criiminally blow the world's largest credit bubble on the top of unpayable Debt Money Tyranny - the whole point is to bankrupt the host and bring it into gang bankster receivorship.

2. Once the exponential debt growth peaks, loot the country blind (their bailout is our unpayable debt) and offload trillions in debt onto the tax payer - the Fed is just keeping it warm in that black box for a while.

3. Once the collapse appears imminent, disarm your victims of the weapons that can do the most damage to the establishment types.  The people won't be happy when they realize there are CONSEQUENCES AND REPERCUSSIONS for being a member of the chumptocracy.

...And here we are.  They aren't worried about saving 50-400 lives a year.  They could care less.  They've false flagged and murdered so many people they have to enjoy it by now.  They give trillions to the banksters to bid up food prices and starve 100s of millions of children, no doubt murdering millions a year.  They steal children and then CPS jacks the children up on pharmaceuticals that brain damage them.  They promote the infanticide (the government can murder your child when you can't afford to support him/her like in Greece) and nobody says a word.  For the gullible that don't believe it...





...pimping baby murder.

China's two child murder policy is a feature to these people, not a bug.

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. The one aim of these financiers is world control by the creation of inextinguishable debt.”
~Henry Ford

“This Act establishes the most gigantic trust on earth.…When the President signs this Act, the invisible government by the Money Power, proven to exist by the Money Trust Investigation, will be legalized.…The money power overawes the legislative and executive forces of the Nation and of the States. I have seen these forces exerted during the different stages of this bill.…” (Congressman Charles A. Lindbergh, referring to the act which established the Federal Reserve. Congressional Record, Vol. 51, p. 1446. December 22, 1913.)

“The new law will create inflation whenever the trusts want inflation. From now on depressions will be scientifically created.” (Congressman Charles A. Lindbergh, after the passage of the Federal Reserve act 1913.)

“Under the Federal Reserve Act, panics are scientifically created. The present panic is the first scientific one, worked out as we figure a mathematical equation.” (Congressman Charles A. Lindbergh, The Economic Pinch, 1921.)

“The new law will create inflation whenever the trusts want inflation. It may not do so immediately, but the trusts want a period of inflation, because all the stocks they hold have gone down... Now, if the trusts can get another period of inflation, they figure they can unload the stocks on the people at high prices during the excitement and then bring on a panic and but them back at low prices.…The people may not know it immediately, but the day of reckoning is only a few years removed.” (Congressman Charles A. Lindbergh, referring to the Federal Reserve act, Congressman Lindbergh stated this a few years prior to the stock market crash in 1929 which ushered in the Great Depression Congressional Record, Vol. 51, p. 1446. December 22, 1913.)

Debt Money Tyranny

Fri, 02/08/2013 - 15:38 | 3226732 AlaricBalth
AlaricBalth's picture


I look forward to his State of the Union Speech:

"My fellow Americans, from the discussions I have had with Congressional and other banking leaders, I have concluded that because of the failure of my ability to lead this nation, and my complete disregard to the oath of office, in which I swore to defend and protect the Constitution,  I no longer have the support of the Congress that I would consider necessary to back the very difficult decisions and carry out the duties of this office in the way the interests of the Nation would require.

I have never been a quitter. To leave office before my term is completed is abhorrent to every instinct in my body. But as President, I must put the interest of America first. America needs a full-time President, not one who takes a extended vacation every chance he gets, particularly at this time with the daunting economic problems we face at home and my lack of respect from abroad.

To continue to fight through the next few years would almost totally absorb the time and attention of both the President and the Congress in a period when our entire focus should be on the great issues of peace abroad and prosperity, without the need for Federal Reserve intervention, at home. Personally, I would rather be playing golf and toking on some choom.

Therefore, I shall resign the Presidency effective at noon tomorrow. Vice President Biden, God help us, will be sworn in as President at that hour in the Oval Office".


Fri, 02/08/2013 - 18:22 | 3227385 TBT or not TBT
TBT or not TBT's picture

Don't recall, does Boehner get to be veep at that point?

Sat, 02/09/2013 - 14:18 | 3228865 nofluer
nofluer's picture

No. Bone-er gets to be Speaker of the House while Biden picks a new VP subject to the advice and consent of the Democrap Senate. The only way Bone-er gets to be pres is if both the Pers and the VP get offed or die of foot-in-mouth disease (or something) before a new VP is selected and approved by the Senate.

Sat, 02/09/2013 - 06:08 | 3228371 SeattleBruce
SeattleBruce's picture

Great punchline: "Personally, I would rather be playing golf and toking on some choom."

Fri, 02/08/2013 - 15:57 | 3226825 nightshiftsucks
nightshiftsucks's picture

Well I guess I know how I die.I will never give up my weapons.If the politicians want my legally purchased weapons then they can come and get them.

Fri, 02/08/2013 - 20:47 | 3227753 Things that go bump
Things that go bump's picture

So sorry, the politicians will not be coming to disarm you. They will send the military.  

Fri, 02/08/2013 - 15:58 | 3226834 nightshiftsucks
nightshiftsucks's picture

Well I guess I know how I die.I will never give up my weapons.If the politicians want my legally purchased weapons then they can come and get them.

Fri, 02/08/2013 - 16:58 | 3227120 nightshiftsucks
nightshiftsucks's picture

Wow Doc,why did you post that ? You just ruined my day.I actually just got back from the gun store to fill out paper work for an overpriced AR I just bought.Not sure what I would do,leave the state or start a malitia,but whatever I do I wont take it like a sheep.

Fri, 02/08/2013 - 19:53 | 3227602 trav777
trav777's picture

i guess it never occurred to you that you might have to USE those things?

You know who your enemies are.

You've concluded there is no common ground.

You're armed...therefore?

You're gonna exactly take it like a fuckin sheep.  The only people who feel empowered to ACT when they feel affront are those who look like the LAPD killer.

you're not entitled to do shit, you fuckin racist.  go sit in the corner and ruminate on the privilege you have and the debt you owe.

Fri, 02/08/2013 - 18:20 | 3227367 TBT or not TBT
TBT or not TBT's picture

Sure, statist control freaks would like to beat reality over the head with sheaves of paper.   The compliance rate for anything like the hopefully overheated infowars site is claiming to be in the works would be poor, and a Supreme Court smackdown not long in the works.   All semi auto would include of course the 1911 pistol, which is a "militia" qualified weapon since well before the NFA was enacted all the way through the Vietnam war.   What they think a revolver does is anyone's guess.   This doesn't concern TBT personally as my house is protected by claymore mines, which is a different, federal issue.

Fri, 02/08/2013 - 14:57 | 3226588 Spaceman Spiff
Spaceman Spiff's picture

Not Kubuki....More like a Donkey Show and we aren't in the audience or the Donkey...

Fri, 02/08/2013 - 15:13 | 3226660 Shitters_Full
Shitters_Full's picture

This is bukkake theater...and we're getting creamed again...and again...

Fri, 02/08/2013 - 15:19 | 3226680 Spaceman Spiff
Spaceman Spiff's picture

If we lose anymore jobs it will be "two tax payers, 1 cup..."

Fri, 02/08/2013 - 14:57 | 3226594 insanelysane
insanelysane's picture

This president has shown time and time again that words meaning nothing to him.  He will say anything.  His latest inauguration speach was just a series of key words strung together.  It was nonsensical.

Fri, 02/08/2013 - 15:00 | 3226604 TBT or not TBT
TBT or not TBT's picture

Spending faster destroys the republic faster, and that is the kind of thing he swore on hi father's grave to do, get revenge on and humiliate the western and "colonial" powers.

Fri, 02/08/2013 - 15:21 | 3226687 cossack55
cossack55's picture

He does not have to do anything to destroy the little that is left of this former Republic. 

Fri, 02/08/2013 - 18:19 | 3227373 TBT or not TBT
TBT or not TBT's picture

He gets ONE Supreme Court justice, just one, and it's potentially over in writing soon after that.    Look at the Obamacare decision and you might think that already happened, but it is not so clear.   Roberts reminded everyone of the extremely tyrannical nature of the income tax amendment.   The Constitution ends where the IRS begins, so to speak.

Fri, 02/08/2013 - 21:21 | 3227831 earleflorida
earleflorida's picture

+1001... yeah!

Fri, 02/08/2013 - 15:10 | 3226650 eclectic syncretist
eclectic syncretist's picture

The flip-flopping indecision reveals that he's got nothing.  No plan exists other than carry on under the immoral counterfeiting model we now have.  Pretty sad for a guy who's eloquence seemed to proclaim him as a person of historic vision.

Fri, 02/08/2013 - 15:56 | 3226814 marathonman
marathonman's picture

Yeah, he looked really convincing reading that teleprompter.

Fri, 02/08/2013 - 15:45 | 3226771 bagehot99
bagehot99's picture

Of course. He says whatever is necessary to sustain The Cause, at any given time. And if we have to be at war with Eastasia tomorrow, instead of Eurasia, then that's OK. That's how it works, and if you disagree you're a wrecker and a lunatic. 

Don't listen to what he says, watch what he does - and try to enjoy the spectacle of the Team Blue Media tying themselves in knots explaining how pouring water on someone's face is a moral outrage, but assassinating US citizens without due process is perfectly sensible.

Then buy some ore ammunition.

Fri, 02/08/2013 - 15:53 | 3226806 chubbar
chubbar's picture

Yeah, A million people showed up that monday and only 2 had to call in sick.

Sat, 02/09/2013 - 06:14 | 3228373 SeattleBruce
SeattleBruce's picture

"His latest inauguration speach was just a series of key words strung together.  It was nonsensical."

That's what happens when you're even bad at reading a teleprompter.

Fri, 02/08/2013 - 16:04 | 3226716 Banksters
Banksters's picture

Obama is a narcissistic sociopath.   


Keep your eyes on that fucker, AT ALL TIMES.

Fri, 02/08/2013 - 15:34 | 3226730 Eireann go Brach
Eireann go Brach's picture

At least 8 out of 10 people do not like Obama and actually despise him, so how did he get voted in as president with 50% of the votes ask my friends in Europe? Welcome to Govt accounting in Amerika!




Fri, 02/08/2013 - 20:00 | 3227622 trav777
trav777's picture

I'll tell you how, because white people are pussies.

Dickless, spineless pussies.  Might as well be fucking women. 

So afraid of a label that they ran out the first time trying to PROVE that they weren't one so they voted for this guy.  To absolve the STAIN from their everlasting souls and shit.  But it didn't work...the label is still chasing them.  So a lot said fuckit I'm DOUBLE DOG DEFINITELY "not one" if I voted for this black man TWICE, right?  And so they did it.

And that's the bottom line; they really are that mindfucked.  The powers lead them around like pets.  May as well size your asses up for a collar and a leash, bitchez.

Can you FATHOM a colored version of Amy Biehl's father?  He sacrificed his OWN DAUGHTER to this.  She was his absolution from the stain of ancestral guilt.  He came to RSA and shook the hands of the fucking savages that killed his little girl, who herself was an anti-apartheid activist.  How much MORE fucking far gone can you GET than this?

this motherfucker was a californian; he had nothing whatsoever to do with ANY OF IT and yet he was willing to give his daughter's blood to excise this.  Now, I'm SURE he goes to all his liberal parties and proudly brags, "i'm DEFINITELY not one, my daughter was murdered by blacks and I shook their hands."  And I bet his liberal friends clap like seals over it and secretly wish that either they or their loved ones could be similarly murdered so that they too could be exonerated from this label.

Fri, 02/08/2013 - 21:28 | 3227849 earleflorida
earleflorida's picture

it's time! time, for 'affirmative action' regarding illegal immigrants-- simply put, 'calif`majority-dreamin'!


Sat, 02/09/2013 - 06:26 | 3228375 SeattleBruce
SeattleBruce's picture

First of all, about 42.5% didn't vote, and of the just under 6 in 10 that did vote, he got more votes.  And then add this to the mix:

Not that it matters.

Fri, 02/08/2013 - 21:54 | 3227915 Buck Johnson
Buck Johnson's picture

Big time, big time.  He said one thing and a year later comes out and do a 180 and blames the republicans for something he wanted.

Fri, 02/08/2013 - 14:52 | 3226567 ZippyBananaPants
ZippyBananaPants's picture



Hey what is going with Jersey Shore? are they back on the air? is the chick still preggers?

Fri, 02/08/2013 - 17:17 | 3227202 Panafrican Funk...
Panafrican Funktron Robot's picture

They migrated to West Virginia, apparently.

Fri, 02/08/2013 - 14:54 | 3226575 Catullus
Catullus's picture

Because all those highly talented, highly efficient government workers simply won't accept lower pay or few resources.

It'll have devastating effect on the economy ... Of Northern Virginia and Southern Maryland!!!!!

Fri, 02/08/2013 - 14:55 | 3226577 Spaceman Spiff
Spaceman Spiff's picture

Our politicians learned that they never have to endure the negative ramifications of a recession if they just goose government spending.  It's GDP MATH!


God we need a better measure for private sector business health...

Fri, 02/08/2013 - 14:55 | 3226583 Bam_Man
Bam_Man's picture

Pretty hard for anyone to be "serious" about spending cuts when the Central Bank is enabling the deficit spending to the tune of $85 Billion a month ad infinitum.

Fri, 02/08/2013 - 15:19 | 3226676 oddjob
oddjob's picture

nice deflection. purchasing toxic mortgage bonds from Zombie TBTF banks is criminal fraud. Calling it deficit spending is doublespeak.

Fri, 02/08/2013 - 17:22 | 3227218 Panafrican Funk...
Panafrican Funktron Robot's picture

I would suggest that buying Treasuries is also fraudulent.  

Fri, 02/08/2013 - 14:57 | 3226592 Ivanovich
Ivanovich's picture

The Embarrassment-in-Chief.

Fri, 02/08/2013 - 14:56 | 3226593 John Law Lives
John Law Lives's picture

T-O-T-A-L  C-H-I-C-K-E-N-S-H-I-T.

Does any politician have the GUTS to make meaningful spending cuts in an attempt to get deficit spending under control?

FUBAR to the MOON.

Fri, 02/08/2013 - 14:59 | 3226599 Dr. Engali
Dr. Engali's picture

Let them spend I say. The more they raise the debt ceiling the higher gold will eventually follow. Spend it all while we can then default , because we are past the point of no return.

Fri, 02/08/2013 - 15:00 | 3226602 MFLTucson
MFLTucson's picture

So he is a fuckin liar, that is not news!

Fri, 02/08/2013 - 15:00 | 3226605 TrustWho
TrustWho's picture

OMG, President Obama speaks with forked tongue, but he cares about YOU!

Fri, 02/08/2013 - 15:06 | 3226632 earleflorida
earleflorida's picture

mind sync...


Fri, 02/08/2013 - 15:07 | 3226639 suteibu
suteibu's picture

You misunderstand.  His beliefs have simply "evolved" over time.

Fri, 02/08/2013 - 15:10 | 3226649 Bad Attitude
Bad Attitude's picture

Dear Leader is a psychopath. He only cares about himself.

Mon, 02/11/2013 - 02:36 | 3232393 Colonel Klink
Colonel Klink's picture

And don't forget how he prances around on cloven hoof too.

Fri, 02/08/2013 - 15:04 | 3226609 earleflorida
earleflorida's picture

not only is this fools fork-tongue splinter'd... but, his words are grossly bifurcated-- perhaps in his past life he was a speech writer for satan himself!    what a, "POS'!!!

Fri, 02/08/2013 - 15:03 | 3226619 candyman
candyman's picture

Off-ramp is putting it midly, Hussain the "father" of all Americans, just killed his family by driving the train off the tracks and into the swamp.

Fri, 02/08/2013 - 15:04 | 3226621 chet
chet's picture

Do you really not understand the difference Tyler?


In late 2011, he was saying we need to keep the sequester as leverage in order to force the parties to the bargaining table at the end of 2012.  Now the timing of the sequester has come, so it is time to go to the bargaining table and negotiate something better.


Do you really not understand this stuff, or you do you just troll your own readers?

Fri, 02/08/2013 - 15:08 | 3226641 Ham-bone
Ham-bone's picture

Chet - where are your <sarc> tags?  Otherwise people will really think you are a dumb ass...

Fri, 02/08/2013 - 15:15 | 3226668 docj
docj's picture

Chet isn't a dumb-ass - he's just Choomy's resident apologist.

Fri, 02/08/2013 - 15:21 | 3226686 knukles
knukles's picture

"Get Zoomie with Choomie"

Fri, 02/08/2013 - 15:40 | 3226753 Clowns on Acid
Clowns on Acid's picture

Yeh...more n more of these O apologists are showing up these days...must be attributed to O's "job creation" package.

Fri, 02/08/2013 - 19:57 | 3227591 Georgiabelle
Georgiabelle's picture

They must be some of the "cyber-warriors" paid through the 501(c)4 Organizing for Obama, which activated the Cyber-Warriors for Obama project shortly after the inauguration. Apparently there are over 3500 of them. They are flooding websites deemed in any way "anti-Obama agenda" with disinformation and pro-Obama propaganda.

Fri, 02/08/2013 - 20:11 | 3227657 de3de8
de3de8's picture

Just wait till their phones are upgraded

Fri, 02/08/2013 - 15:18 | 3226674 chet
chet's picture

"We need to keep the pressure up to compromise. Not turn off the pressure."

The sequester was created as an anvil over Congress' head.  It was never the intention for the cuts to take place.  These are easily verifiable facts from following the news the last two years.

Jesus you guys are dense.  Tyler just trolls you morons for page views.  The respect for objective facts and truth around here have sunk to Fox News levels.  Fucking nimrods.

Fri, 02/08/2013 - 15:20 | 3226683 Dr. Engali
Dr. Engali's picture

Speaking of Euro trash trolls....

Fri, 02/08/2013 - 15:22 | 3226688 knukles
knukles's picture

Fuck's wrong with being Fair and Balanced?

Fri, 02/08/2013 - 15:26 | 3226701 chet
chet's picture

Yes, smash all dissent!  The ZH thought police must march in lockstep!

It's pretty funny to watch people who go on and on about "sheeple" try to snuff out any commenters that don't toe the ZH party line.  This isn't just like Fox News.  It is Fox News. From the Glenn Beck, Sarah Palin era no less.

You guys are all dumber and less informed for spending your time here.  How has being short the market worked for you the last four years?  How many times have you used your bug-out bunker since 2008?  Nimrods.

Fri, 02/08/2013 - 15:56 | 3226819 chet
chet's picture

Ha!  They're actually discussing economics over there.  Imagine that.

Fri, 02/08/2013 - 16:02 | 3226845 marathonman
marathonman's picture

How much are you getting paid to play the propaganda game for Barry and the DNC? 

Fri, 02/08/2013 - 16:28 | 3226961 NoDebt
NoDebt's picture

Chet- so you'll be leaving now, right?

Don't let the screen door hit you in the ass on the way out.

Fri, 02/08/2013 - 15:32 | 3226712 Ham-bone
Ham-bone's picture

Of course it was never intended to be enacted...the point of the post is what hypocrites our leaders are complicitly working w/ the press and hungrily eaten up by the populace.  Every word another lie.  Truth is shorts and longs are all going to lose because of this game.

Fri, 02/08/2013 - 15:33 | 3226735 chet
chet's picture

And my point is that anyone who is mildly informed and giving an honest reading of those quotes knows that they aren't actually hypocritical.  But ZH is no longer concerned with being informed or honest, if it ever was.

Fri, 02/08/2013 - 15:59 | 3226746 Ham-bone
Ham-bone's picture

I'm sure the admin will state their revenue increases, phantom budget cuts, and fairytale growth estimates have already exceeded the 10yr $1.2T target.  Mission don't slow down the military industrial complex.  Awesome.

A quick read of this weeks CBO's best case scenario tells that the admin and DC critters have chosen the "easy off ramp" to pretend this problem is solved.  CBO stating deficits likely of $9T over this 10yr period...not exactly confirmation of deficit cutting.  CBO deficit deterioration shows clearly the hypocrisy...bullshit of cutting deficits by $1.2T yet according to the CBO they have worsened by $T's.

Fri, 02/08/2013 - 16:14 | 3226905 gould's fisker
gould&#039;s fisker's picture

Hey Chet government expert douchebag--in all you stupid fucking posts you never have once said that it suited candidate Obama to oppose sequestration leading up to the election so all the voters potentially affected by sequestration wouldn't vote for Romney because of it.  How his administration did everything in its power to stop defense companies from sending out layoff warnings to their employees as they are required to do by law.  So you sir are a trolling lying/or dumb fuckwad.  Go jack off.

Fri, 02/08/2013 - 16:28 | 3226960 SoCalBusted
SoCalBusted's picture

How's the closure of GITMO coming along?

Fri, 02/08/2013 - 15:32 | 3226727 viahj
viahj's picture

reading comprehension is failing here.  some see a new post, hastily read the bolded statements and rush to be first to make a comment...something, bitchez! usually.

i may be incorrect but only refering to the above quotes, O said he wouldn't veto the automatic cuts but the unbolded sentence of that first quote cleary indicated the path to avoid the cuts.   

Fri, 02/08/2013 - 15:35 | 3226742 chet
chet's picture

Thank you.

Fri, 02/08/2013 - 16:31 | 3226940 Agent P
Agent P's picture

Actually, the quote said he would veto any effort to get rid of the automatic spending cuts, which is quite different than saying he wouldn't veto the automatic spending cuts.

Reading comprehension is failing indeed...bitchez!

Fri, 02/08/2013 - 15:27 | 3226707 knowless
knowless's picture

At what point will there be a permanent resolution? Or in your view, is one unnecessary?

Fri, 02/08/2013 - 15:30 | 3226722 chet
chet's picture

It was supposed to happen at the end of last year, but they punted a few months.  Of course it is necessary, but Congress can't tie it shoes, so who knows if it will happen.

My point is that those quotes aren't actually contradictory at all.  I suspect Tyler knows this, but is misleading his readers.  Not uncommon around here.

Fri, 02/08/2013 - 17:40 | 3227269 Panafrican Funk...
Panafrican Funktron Robot's picture

Chet, what are your thoughts regarding the budget?  What is an appropriate level of revenues vs. expenditures?  Where do you see places to increase or decrease revenues or expenditures to arrive at a more optimized levels.

Do something positive and constructive, and give us some information on your thought process regarding the budget.  Or, kindly fuck off. 

Fri, 02/08/2013 - 15:47 | 3226783 bagehot99
bagehot99's picture

We can't all have your deep understanding of realpolitik. Thank you for explaining it to us. 

Fri, 02/08/2013 - 15:52 | 3226799 chet
chet's picture

Lots of people could at least try before spouting BS.  Or voting, for that matter.

Fri, 02/08/2013 - 15:05 | 3226625 Miss Expectations
Miss Expectations's picture

I listened to the entire prayer breakfast speech of Dr. Benjamin Carson this morning.  He turns Obama into a midget ant and he doesn't even break a sweat.


Fri, 02/08/2013 - 16:04 | 3226854 SmallerGovNow2
SmallerGovNow2's picture

+1,000,000 thumbs up.  Thank you for that, if we had guys like Carson in office we'd be an awesome country...

Fri, 02/08/2013 - 15:06 | 3226630 Seasmoke
Seasmoke's picture

Forward !!

Fri, 02/08/2013 - 15:06 | 3226631 Ham-bone
Ham-bone's picture

Fuck u to all of Washington DC...Fuck u to kicking the can...

Fri, 02/08/2013 - 15:06 | 3226633 orangegeek
orangegeek's picture

Barry is out of spend and pump.  Republicans will probably cave.  Both parties work for the same team.

Fri, 02/08/2013 - 15:08 | 3226642 Temporalist
Temporalist's picture

I know there is a major omission from those quotes.  There is no way The Drone Warrior In Chief forgot to mention "It's for the children."

Fri, 02/08/2013 - 15:13 | 3226662 docj
docj's picture

And our objective, unbiased, down-the-middle print and broadcast media will point-out, loudly and repeatedly, the chocolate messiah's hyporcrisy in 5... 4... 3... 2...

Oh, who am I kidding? They're too busy falling over each other to fellate said messaih for his peaceful, Constitutional and skillful use of drones (unlike his predecessor's clumsy, war-mongering, and clearly UNConstitutional use of the same drones).

Fri, 02/08/2013 - 15:15 | 3226666 suteibu
suteibu's picture

OT:  Now we know why the government needed all of that ammo.

FDA guard opens fire on 15 year old boy

Cops shoot homeless man on school property

...because they can't physically sudue an 15 yo boy and a homeless man, I suppose.

Fri, 02/08/2013 - 15:25 | 3226702 mckee
mckee's picture

So contrary to what all the dumbasses in my life say about me when I claim I want to be armed to protect myself from the government.... I am not actually paranoid?

Fri, 02/08/2013 - 15:28 | 3226710 mckee
mckee's picture

Or maybe I am but that doesn't mean they're not out to get me. Of course I've also been accused of being schizophrenic... and I'm all like "I know I am, but what am I"?

Fri, 02/08/2013 - 16:03 | 3226851 chubbar
chubbar's picture

Well, the LAPD has shot a couple of women and a white guy all because they were driving a blue pickup truck today. The 6'4" BLACK man they are pursuing happened to be driving one at last report so of course they are advising folks not to drive around in pick up trucks. Heaven forbid they just asked the cops to exercise some fucking judgement with their fucking shooting. I mean they don't seem to have the slightest clue what the hell they are doing with their weapons yet these are the dolts they want armed instead of citizens. Unfricking real!

Fri, 02/08/2013 - 15:23 | 3226694 Rainman
Rainman's picture

Oblameo with a credit card limit is just another ChiTown political hack. No politico from that city is up to anything good or honest. Everybody knows this.

Fri, 02/08/2013 - 17:43 | 3227273 Panafrican Funk...
Panafrican Funktron Robot's picture

Speaking of Chicago, this is all ultimately probably going to the Chicago Plan.

Fri, 02/08/2013 - 15:26 | 3226704 Son of Loki
Son of Loki's picture

Ha ha ha ha !


Barry and Lance share something.

Fri, 02/08/2013 - 15:34 | 3226739 thismarketisrigged
thismarketisrigged's picture




Fri, 02/08/2013 - 15:41 | 3226758 JR
JR's picture

At last, a plausible answer as to why “the US economy is not far from sinking into a black hole,” thanks to a link today from Winston of Oceania; as long as the current banker-controlled President and Congress allow the Fed to control US monetary policy , it’s ramp off for the economy.

Fed’s Policies Expose Mainstream Fallacies

Mises Daily: Friday, February 08, 2013 by Frank Shostak

At last, we’ve got the answer as to why “the US economy is not far from sinking into a blackhole,” thanks to a link today from Winston of Oceania.

At the annual meeting of the American Economic Association in San Diego (January 4–6, 2013), Harvard professor of economics Benjamin Friedman said,

The standard models we teach … simply have no room in them for what most of the world’s central banks have done in response to the crisis.

Friedman also advises sweeping aside the importance of the role of monetary aggregates. On this he said,

If the model you are teaching has an “M” in it, it is a waste of students’ time. Delete it.

According to most economic experts, the Fed has re-written the central banking playbook, cutting interest rates to near zero and tripling its balance sheet by buying bonds. The federal funds rate target is currently at 0.25%. The Fed’s balance sheet jumped from $0.86 trillion in January 2007 to $2.9 trillion in January 2013.

Professors who say they agree with the Fed’s approach to the 2008–2009 economic crisis are nonetheless challenged to explain this new world of central banking to their students. They argue that the dramatic action by the central banks to counter a global financial crisis cannot be explained by traditional models of how monetary policy works.

So what seems to be the problem here?

According to traditional thinking, a lowering of interest rates stimulates the overall demand for goods and services, and this in turn, via the famous Keynesian multiplier, stimulates general economic activity. Furthermore, according to traditional thinking, massive monetary pumping should also lead to a higher rate of inflation.

Yet despite the massive monetary pumping, both economic activity and the rate of inflation remain subdued. After closing at 8.1% in June 2010, the yearly rate of growth of industrial production fell to 2.2% in December 2012. The yearly rate of growth of the consumer price index (CPI) fell to 1.7% in December 2012 from 3.9% in September 2009. Additionally, the unemployment rate stood at a lofty 7.8% in December 2012 with 12.2 million people out of work.

So why has the massive monetary pumping by the Fed, and the near zero federal funds rate, failed to strongly revive economic activity and exert visible upward pressure on the prices of goods and services?

Is the comment by Benjamin Friedman, that money is not relevant, now valid?

No. The fact that the massive Fed pumping has failed to produce the expected results—along the lines of mainstream models—does not mean that the money supply is no longer important to understanding what is going on.

The fact that economic activity is currently not responding to massive monetary pumping, as in the past, indicates that prolonged reckless monetary policies have severely damaged the economy’s ability to generate real wealth. So contrary to Friedman, we maintain that money matters very much. However, contrary to mainstream thinking, an increase in money supply does not grow, but rather destroys the economy.

The ongoing monetary pumping, coupled with an ongoing falsification of the interest rate structure, has caused a severe misallocation of scarce real capital. As a result of reckless monetary policies, a non-wealth-generating structure of production was created. Obviously, with the diminishing ability to generate real wealth, it is not possible to support, i.e., fund, strong economic activity.

Monetary pumping is always bad news for the economy because it diverts real funding from wealth generating activities to wealth consuming activities. It sets in motion an exchange of something for nothing.

As long as the economy’s ability to generate wealth is functioning, the reckless monetary policies of the central bank can be absorbed. Under such conditions, market watchers get the false impression that "loose" monetary policies are the key drivers of economic growth.

When wealth-generating activity, as a percentage of the total economic activity, drops below a certain point, reality takes over and general economic activity has to fall. This decline in wealth-generating activity undermines the ability to lend. Real funds for lending have also declined and lending "out of thin air" results. Following suit is the growth of the money supply and price inflation.

As a result of the weakened wealth generating process, formerly subsidized non-wealth-generating activities come under pressure. Since they don't produce enough to sustain their own viability, they are forced to lower their prices of goods and services to stave off bankruptcy. According to Mises,

As soon as the afflux of additional fiduciary media comes to an end, the airy castle of the boom collapses. The entrepreneurs must restrict their activities because they lack the funds for their continuation on the exaggerated scale. Prices drop suddenly because these distressed firms try to obtain cash by throwing inventories on the market dirt cheap.[1]

It is not clear whether we have already reached this stage in the US. But despite massive pumping by the Fed, economic activity remains subdued and this raises the likelihood that the US economy is not far from sinking into a black hole.

The Fed's aggressive pumping policies highlight the destructive nature of loose money. Popular mainstream theories aside, the actions of the Fed have proven that monetary pumping cannot grow an economy. It can only set in motion a process of destruction...

The belief that greater transparency and consistency in the Fed’s policies would lead to stable economic growth is fallacious. We have seen that it is the Fed’s actual policies that are the key factor behind the destruction of the wealth generating process. Hence, the damage inflicted by these policies cannot be avoided even if the Fed is consistent and transparent.

The key problem with the mainstream perspective is its notion that all that is needed for economic growth is to boost the demand for goods and services, i.e., demand creates supply. It is for this reason that mainstream thinkers held the view that increases in the money supply, and the subsequent increase in the overall demand for goods and services, is a catalyst for economic growth.

But we have seen that once money is pumped, it sets in motion an exchange of something for nothing, i.e., the diversion of real wealth from wealth generators to non-wealth generators, and subsequently to economic impoverishment.

Fri, 02/08/2013 - 16:06 | 3226862 Son of Loki
Son of Loki's picture

One correction, JR. The massive gubbermint pumping has gone into the pockets of a handful of people on Wall Street and Banks....not the economy.

Fri, 02/08/2013 - 16:42 | 3227035 JR
JR's picture

Exactly, the route taken by government stimulus money is circular but not 360 degrees – it doesn’t get back to the taxpayer, to the economy; it’s more like 280 degrees because it goes from the taxpayers to the welfare recipients to the government’s favored welfare-connected industries, then on to Wall Street and the banks that are the owners and/or major holders of stocks of these industries. And it never returns to the taxpayer, i.e., the economy.

The banks such as JP Morgan, the largest processor of food stamp benefits in the United States, are part of the government food chain involved in management and collecting in housing, in government infrastructure, in green energy, in insurance, in food stamps, in health care... You name it and you can bet who’s at the bankers' pot at the end of the rainbow; if there’s going to be stimulus, say, that’s going for green energy, the largesse ends up in the pockets of the bankers – the facilitators and the money managers. They are the middlemen in all forms of governemnt wealth redistribution.

They’re like ambulance chasers – always chasing the money.

Fri, 02/08/2013 - 15:42 | 3226762 djsmps
djsmps's picture

Ignorance is strength

Fri, 02/08/2013 - 17:18 | 3227207 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Strength is weakness.

Fri, 02/08/2013 - 15:52 | 3226802 darteaus
darteaus's picture

The government will NEVER voluntarily cut spending.

Bet on it.

Fri, 02/08/2013 - 16:14 | 3226902 wonderatitall
wonderatitall's picture

...and if they do daddy obama will drone dem ass

Fri, 02/08/2013 - 16:24 | 3226945 Spastica Rex
Spastica Rex's picture

We need a nation of perfectly credulous consumertrons who would never question the leaders of their own factions and their firm commitments to make this country the best it can be, to the benefit of all.

Oh - we already have that? Never mind.

Fri, 02/08/2013 - 16:35 | 3227004 q99x2
q99x2's picture

That creature was elected because nobody had a choice.

Fri, 02/08/2013 - 16:37 | 3227013 dark pools of soros
dark pools of soros's picture

OMG removing the debt ceiling is soooo easy and avoids the fiscal cliff!! I just had to do it!!! So fucking cool thxbye

Fri, 02/08/2013 - 16:54 | 3227099 SkottFree
SkottFree's picture

"it’s not the right thing for folks who are out there still looking for work." Barack Obama

Notice BO didn't say Americans looking for work as he gears up amnesty for illegal aliens as they are the only ones looking for work!

Fri, 02/08/2013 - 17:16 | 3227198 malek
malek's picture

 these devastating cuts to defense and job-creating programs

That really must be the leader of the Republicrat party speaking here!

Fri, 02/08/2013 - 17:51 | 3227294 dark pools of soros
dark pools of soros's picture

private profits now from public taxes later

we should just suck out all the taxes for the next 3000 years and make us all rich NOW!!!!

Fri, 02/08/2013 - 17:17 | 3227205 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

What a guy.

Fri, 02/08/2013 - 18:05 | 3227322 are we there yet
are we there yet's picture

Addicts do not leave the opium den until they run out of opium. Then they vote liberal democrat.

Fri, 02/08/2013 - 19:46 | 3227583 Walt D.
Walt D.'s picture

job-creating programs = bailouts to State and Locals Governments.

Does not create diddly squat - didn't last time, won't next time.

Mon, 02/11/2013 - 01:02 | 3232301 Joseph Jones
Joseph Jones's picture

I used to have to drive a very large truck, highly elevated above normal traffic, through the streets of San Francisco's so-called "Tenderloin District."  Several years ago I noticed all these apparently very healthy young to middle aged men jaywalking all over the streets, never even glancing over their shoulder for traffic, oblivious to it.  It finally hit me: what on earth are all these healthy obviously unemployed and unemployable males doing walking all over the neighborhood?  What else?  Collecting their food stamps and welfare checks, impregnating women, selling illegal drugs...oh, the hope of a better tomorrow.  Victims of rough childhoods, yes?  

Sat, 02/09/2013 - 04:22 | 3228335 kchrisc
kchrisc's picture

All of you are now an "associated force."

One "legal, ethical and wise" drone strike on the way!


Sat, 02/09/2013 - 05:30 | 3228359 Hobie
Hobie's picture

ZH offline for a bit. Takedown or reboot?


Sat, 02/09/2013 - 13:05 | 3228752 loveyajimbo
loveyajimbo's picture

Liberty bound


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