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And The Kickers In Reid's Proposed "Deficit Cutting" Plan Are...
Following hot on the heels of the proposed Boehner rehashed plan, we get the first details of where the bulk of the $2.7 trillion in proposed savings will come from. Are you ready for this? REID PLAN SAID TO HAVE $1 TRLN SAVINGS FROM WINDING DOWN WARS. That's right. In some parallel galaxy far, far away, lack of expenditures, on America's 6 front wars to be sure, is now considered a "saving"? Front lobe hemorrhage to commence in 5 seconds. And the other migraine-inducing details of the Reiid plan are...
- REID PLAN WOULD INCLUDE $30 BLN IN FANNIE, FREDDIE CHANGES
- REID PLAN WOULD INCLUDE $400 BILLION IN INTEREST SAVINGS
- REID PLAN SAID TO INCLUDE $1.2 TRLN DISCRETIONARY SPENDING CUTS
- $10-$15 BILLION IN AGRICULTURE SAVINGS
- and of course... THE CREATION OF A BIPARTISAN PANEL TO FIND FUTURE SAVINGS. I.E. WHY DO IT NOW, WHEN YOU CAN DO IT... NEVER
So $1.2 trillion in discretionary cuts, which means millions in government job losses. What was that about the unemployment rate again? And what the hell is an "interest savings" - is that the interest on the debt that would be incurred if the deficit cuts were not imposed? Or will Reid replace Brian Sack in the Fed's OMO desk and proceed to sell trillions in Long-term bond futures puts to get the 30 Year rate to -infinity?
Even the moronic rating agencies won't hesitate to downgrade the US to F- based on this deranged gobbledygook.
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I'd laugh if it wasn't so damn sad....
i laughed anyways. this shit is just way too funny.
I'm surprised they haven't come back to Ron Paul's solution of having the Fed destroy their bond holdings. POOF, national debt goes down $1.6T.
THAT is A BAG OF SUCK (to quote GW)
I know. I can't stop saying that one.
dose guys are dumber than a bag o' hammers.......
They really don't get it. They're still playing the "re-shuffle the debt cards" game. They don't seem to understand that the game is over.
A bi-partisan committee to find future savings?
Sort of like ... The one you're on NOW????
Owwwwh, come on, I kinda like that bi-sexual partner with animal commission to maybe find some potential savings down the raod later on some day in the future when and as it may be necessary.
Military spending as a percentage of GDP
The 2009 U.S. military budget accounts for approximately 40% of global arms spending and is over six times larger than the military budget of China (compared at the nominal US dollar / Renminbi rate, not the PPP rate). The United States and its close allies are responsible for two-thirds to three-quarters of the world's military spending (of which, in turn, the U.S. is responsible for the majority).[31][32][33]
In 2005, the United States spent 4.06% of its GDP on its military (considering only basic Department of Defense budget spending), more than France's 2.6% and less than Saudi Arabia's 10%.[34]information 2006 This is historically low for the United States since it peaked in 1944 at 37.8% of GDP (it reached the lowest point of 3.0% in 1999–2001). Even during the peak of the Vietnam War the percentage reached a high of 9.4% in 1968.[35] Countries like Canada and Germany spend only 1.4% of GDP on their military.
LOL LOL hahahaha -- Laughing is all that is possible!!
Some men just want to watch the world burn...!
http://youtu.be/efHCdKb5UWc
Is it possible that Reid and Schumer are trying to induce a migraine in Bachman and the Tea Partiers?
Heh. If so, it's effective. My head has been hurting for days.
Or is that caused by constantly beating my head with a 2x4?
Wars go away..
It's the kinetic military action we're all worried about.
When? They'll just find or make an excuse for another war. It's endless and very sad.
Just what were those Idjuts in Nevada thinkin' when they re-elected Reid? (oh, right -- thinking is hard work, better to stick with the Devil you know and all that rot...)
I laughed as well as it just proves the politicians do not want to cut spending. They are going to fight spending cuts tooth and nail. In the end, even the republican plan will be accounting schemes, impossible future growth expectation, and hedonic adjustments.
Surely this is bullish, no??
One would think so, but...
You got the "bull" part right.
Go ahead and laugh. It's a sign of supreme, and deserved, derision.
Message to Reid from my 4-year-old grandson: "You think you know, but you don't."
This is sad http://www.youtube.com/watch?v=ebf171vP74k&feature=topvideos_music and this is sad http://www.bbc.co.uk/news/world-europe-14280210
Our leaders are BUFFOON'S!!! not sad. But lets not split hairs...
Smoke - and - mirrors
.
Yep, speechless... me too!
?
These geniuses need to figure out where all that excess debt-money is at, then go after it and eliminate it. I never saw a bigger bunch of weenies in my life.
Hey I'm starting to miss that ZH math question already. It's become part of my routine.
I feel you, bro.
Here. I can help. This is one of the questions I want to propose to qualify for Rater status.
"What is the smallest counting number that will never go to 1 after any number of repetitions of the following 2-part rule: (1) if the number is even, cut it in half. (2) if the number is odd, triple it and add 1."
Sacrilege ! This is for you, too. Look ^^^
I don't think there is a counting number which matches that description.
junked - smart guy
Sir, you have unjustly insulted two inanimate objects!
Same type of Bull Shit as in obummer-care....Pathetic.....
Smokin boat, if he thinks there's hundreds of billions in interest savings coming, perhaps he should lay off the hard stuff before getting in front a microphone.
Smokin boat, if he thinks there's hundreds of billions in interest savings coming, perhaps he should lay off the hard stuff before getting in front a microphone.
How could interest savings come any other way than REDUCING debt??
By defaulting, duh. hahaha...these fukkin assholes are just winging it at this point.
The federal government should use the same FAS157 accounting standard that financials use.... ie, they should mark-to-market their debt. In this bizarro world, the more that congress trashes the USA's creditworthiness with frivolous debt-financed spending, the greater the gains (savings!) that can be booked in current income through lower bond prices on all outstanding treasury bonds.
It's like inventing "perpetual motion", an infinite debt ceiling could lead to infinite interest savings! Brilliant!
gold down for the rest of the week ? me hopes.
interest savings = QE to infinity, pushing 30 year yields down below 1%.
as if the wars will ever stop.
edit: reminds me of this
http://www.youtube.com/watch?v=JnX-D4kkPOQ
awesome clip!
and promising to "end the wars" is hilarious, anyone stupid enough to believe that lie should be deported immediately so they can never vote in another election
+1
The Treasury budget report from 7/13 beat expectations when the model used to calculate interest payments on Treasuries was adjusted to lower by $60 billion the deficit for June or it would have been -$103.1b instead of -43.1b.
How much did we save by not bombing Tlon, Uqbar and Orbis Tertius?
had to google those...thanks for the laughs, think we saved 1.5 trillion right there! ha.
But if we had bombed them, they would have made some very nice Circular Ruins.
Weak stuff to be sure. You know old Harry wants to make it up by raising taxes, but the Senate of course can't do it. Origination clause, Bitchez!
"Some dayz it just don't pay to gnaw through the leather straps!"
Don't forget the "savings" from CPI calculation adjustment.
sweet selloff...maybe
Market just went limp.
Boehner plan details straight ahead. There's really three jokes in there if you look closely.
I can see it now, O'baminator craters to kicking the can down the road, and this tragedy/comedy fulfils annual wall street criminal bonuses courtesy of Boner.
Green Chutes sheeple, long K-Y jelly.
Paul Atreides: [Paul Muad'Dib] "I will bend like a Reid in the wind".
Careful there Beau; "use a pun, go to prison." ;-)
If I go to prison for a pun, would they allow me to be called a 'pundit'?
"No noose is good noose!"
whatever. we are living in a fantasy world of propagananda. waking up, in this context, = default
1) get rid of "(Total score: =1)" and those who lick tyler's butt-plug, who are behind it
2) bring back the fuking junks
3) eat shit. lay eggs. and die young.
Should I put my DOW 13k or DOW 11K hat on?
you don't have a DOW 12,000 bikini handy?!
+1
Show me your TIPS!
That's it, get her talking about her shorts and tops.
I'm about to pull out my DOW 130k hat.
This is all so pointless. You and your wife can argue all you want about raising your credit card limit but it doesn't mean anything unless the card issuer agrees to it. Is Ben warming up the QE3 presses or not? That's the real issue.
Where has Bennie been lately? Someone put a lid on him?
Maybe he couldn't afford another lid?
Busy in Euroland.
Currency Repatriation largess coming in 3 ... 2 .... 1 .... Ben can save on ink cartridges.
Think of all the money saved, or created by not bombing Moscow.
That has to be at least a Brazillion, or two.
So many ways to 'save'!
reid and schumer frontran boehner
reid saying gop is giving into the extremist tea partiers...
Shumer says "this is an offer the republicans can't refuse" in true NY Godfather tenor...
lol The democrats want to have time to regroup for the 2012 elections.
They want the lump sum.
Our debt needs to be a major issue during elections, but if the democrats are granted a lump sum, then people in the US will forget about the debt.
What makes you think the vast majority care now? Or even know about this farce?
I did a quick poll. Called my son, he's 25, got a big HUH? Doesn't even know.
Called my mom (72), she asked me if it would affect her SS and Medicare.
Not a clue.
Same response we get!
Do we laugh or cry? Does it matter?
Exactly....no one knows and frankly no one cares out in the general population. Most are already so poor that owning any stocks or pm is just a far away dream. The only thing I think most americans are concerned about right now is keeping their jobs and feeding their families. Thats all they are capable of Concentrating on right now. I think most have realized DC doesnt give a shit bout us and its every man for himself. I think americans feel powerless.... Bc really they are when it comes ti the ruling class....
I am Lrrr, ruler of the planet Omicron Persei 8, and there will be no end to war in the parallel universe. Obamageddon is coming.
"Kittens give Morbo gas."
Prof. Farnswoth: "What do you monsters want?"
Lrr: "One thing and one thing only: Quarters! Millions of allowances of quarters!"
Paraphrasing Niall Ferguson from a speech a year or so ago...."The butterfly that could flap its wings to bring down the whole system is 'the credibility of fiscal policy.'"
Thanks Tyler! I needed a good laugh this afternoon. You just cannot make up stuff this funny.
That is why he is called Parry Harry. When it is time to jab, he parries. Tea Party 'extremists' he says as he continues to lie about why they want a plan that takes the debt ceiling through the next election.
As usual Tyler's sarcasm is wonderful in light of this pathetic topic.
What are Fannie and Freddie "changes"? WTF is that about?
I hear they are going to adopt the Groupon model.
They're changing the names to "Fan" and "Fred"....and Reid has calculated 30 billion in toner savings from printing shorter letterhead. Oh yes,.... and no more expensing of hookers and coke!
T.E.I.N. everyone! (Thanks a lot Sac for dropping the signature line...../sarc on)
don't get yer "points" adjusted, there
here's what i was sujected to after this page re-loaded after i posted:
Similar Articles You Might Enjoy:The header tells me this is " new " Slewie...
nah.... still the same
if only we were in more wars , we could "save" even more
And the kicker is:
Had John Paulson postponed his sale of his Sino Forest shares just by some 2 weeks, he could have massively minimised his losses.
Sino-Forest at $6.52 as we speak.
Ouch, that's a double whammy !
Wonder if Muddy Waters is still short.
http://www.imdb.com/title/tt1239013/
http://www.deadoraliveinfo.com/dead.nsf/wnames-nf/waters+muddy
Thank god; I thought it was just me...
I just can't fathom how someone can buy Treasury bonds backed by these clowns.
"so many nations still to conquer; so little time left for our latest puppet in the WH"
BIS spokesperson
This is like "the more you spend, the more yuo save!".
No, I'd save more if I didn't spend at all!
It's the shipping & handling where they really get you.
Most people seem to forget that our "community organizer" is the one who signed the current debt limits into law...
I dont care how they do it, where they do it, in a budget resolution or elsewhere, but the time is long overdue for us to stop killing brown people and to mind our own fucking business. Why do we have more soldiers attending to the South Korean border than our own?
+1. I was very happy to see the talk of winding down wars.
Nevermind theyre ramping up to attack Syria and Libya next, and therefore kick off WW3! 'Wars ending', may as well have used that line in 1939.
hey you make some great cakes Dolly! UNfortunately it is just talk! We would be wise bring our troops home from Korea from Germany, Italy, etc etc
Ron Paul bitchez!
+.308
hey you make some great cakes Dolly!
I better change my persona since I do not at all want to be associated with processed food.
UNfortunately it is just talk! We would be wise bring our troops home from Korea from Germany, Italy, etc etc
Yeah, it's probably just talk, but hearing the talk at all from congress is amazing. But, you are right, they won't stop their warring ways unless we make them stop.
pazz,
S Korea, I see no way...............their INSANE.
We would just be back with a NEW full scale war, as the NK's would crawl all over that
No reason to stay in Iraq, or Trashcanistan.................
NO way to ever win in TCAN.
Endless chasm for dead men and materials,and $$$$$$$$$$.
Wake me when they wind down the war on poverty. Talk about sinkholes...
An oxymoron if there ever was one.
The war on drugs - throw all the black men in prison
The war on poverty - pay a bunch of white guys in Washington to think about why black men are in prison and can't feed their family, make food stamps available for everyone, then back to square one.
Didn't you hear? It's for their own good.
http://www.reuters.com/article/2011/07/14/us-prison-blacks-idUSTRE76D719...
The evolving details of this pathetic kabuki dance are a tiresome infliction of banality even on those who don't care how bologna is made.
this is a terrible sound byte fest
poiticians are painful
I really really like the audacity of the "interest savings" part, I think that might even be more insane than calling ending all the wars a savings.
Jesus I wish the MSM could report like this so folks on main street might just begin to get what is going on, instead it will be translated as Reid is the king of negotiators! Keep up the Great work Tyler!
If MSM reported items like this, then they could no longer call television "programming".
.....and now back to your regularly scheduled programming.
"love the state and the state will love you. love the state and the state will love you. love the state and the state will love you."
"Welcome to Costco. I love you."
Why not say, "We've found a way to cut Federal spending by $100 trillion over the next 100 years by instituting a plan to have a plan with future plans that will call for a new plan that backs up previous plans while still planning on having a plan to reduce the previous plan's overall planned spending."
Wait that is Reid's plan.
Did anyone else catch that the FAA is now shut down? Air traffic controllers are still on the job but the rest of the FAA is to be furloughed until congress passes a new FAA funding bill. I can't believe there isn't total anarchy out there. Man that fluoride is good shiite.
Man that fluoride is good shiite.
Your faucet is almost liking having a Bud Light tap in your house, no? :-)
The Band - The Weight
http://www.youtube.com/watch?v=XY_5JOEmFK0
This is bullish for mercenary stocks.
Should I go with Blackwater or GE?
This is bullish for mercenary stocks.
Should I go with Blackwater or GE?
I think Blackwater is private. No dividends for you or me on that one.
Now known as Xe, pronounced Zee.
...and here I thought they were just the exchange rate people.
The new branding was found to be 110% more sympathetic to Oriental and Middle Eastern clients. So they lost the paw and the folksy rural American name.
Don't even think I'm joking...
I don't know its pronunciation, but Xe stands for Christian evangelism.
http://www.truthistreason.net/erik-prince-blackwater-xe-the-new-christia...
Winding down the wars is a sensible idea, although the downside is hundreds of thousands of more unemployed, pissed off young people who are trained to kill.
They assume that the US will not face an earthquake or flood or any natural disaster before the trillion is "saved".
Yeah right.
Not even taking into consideration a corrupt administration being voted in and changing the game plan once again.
Harry needs to retire.
A new corrupt administration?
Listening to this crap and expecting a "live from New york its saturday night".
Jesus, this is all theater.
At the end of the day (2-3 years from now) the changes will be forced on the US. They will not come from the blowhard muppets.
Remember the great traders of the financial crisis started preparing in 2004-05. People thought they were crazy.
Start looking for how to play this when the changes are forced upon the USA circa 2014-2015.
Channeling your inner Gordon_Gekko I see. Excellent
I do miss GG's rants....
The law of unintended consequences say, bring back the troops to the US where there are no jobs and prospects, the unemployment rate goes sky high, and govt. has to dole out $$$ for food stamps and unemployment benefits and subsidies for housing, etc.
Put your finger in the dike, another leak appears elsewhere!
Welcome to Globalization. Those jobs are long gone and they're never coming back as long as the One-Worlders are in power.
I think bringing back the troops would be a good idea. With a bunch of unemployed 18-24 year olds, trained to do violence, we might actually get some positive, substantive change in this country, i.e. full scale revolt. Nah, I just don't see that happening.
I think I put my finger in a dike once.
Well, they "killed" Osama after all.
Mission Accomplished!
OH right the wars that are ending....nevermind we're on 5 war front at present, and 7 by fall....but theyre ending OH OK!
We're at war with Ohio and Oklahoma? Say what?
Yeah, the costs of defense should be off budget just like the good old Bush days.
Just move it off budget--good for the previous criminal class should be good enough for this bunch.
WHat Wars? Have we declared war on someone?
Just on "terruh" and drugs. I can't find either on the map.
Where would you like to start? War on Iraq, Libya, Pakistan, Afghanistan, Yemen, drugs, poverty, terror,Christmas, the Easter bunny,Big bird .........blah blah blah blah blah
It would be funny if it weren't so true.
Harry 'The Parry' Reid and Chuck 'The Schmuck' Schumer...what a pair. Just watching these two is like watching a ticker tape parade of lies. They are selling snake oil to us. They remind me of carpetbaggers.
What a joke this entire charade has become.
Hey Turd! I thought you were on a plane.
Did TSA give you a pretty good frisk?
Turd,
A few months back you reco'd EGO with the 16 base, we went long options at 14.50, for a 19 strike, good call, thanks
Fat chance. They've never met a war or conquest they didn't like. They're just getting started in Pakistan, Libya, and Iran. They aren't going to let Afghanistan's drug money go unskimed and Iraq's oil profits go unpilfered so not gonna happen.
By-the way. That statement really sounded pathetic and embarrassing. It's like a drug addict saying if you don't force me to go to rehab I'll cut down my coke habbit by 1/4 and only smoke pot on the weekends and limit my alcohol intake to beer and wine only.
Harry Reid is forever an obstruction to real and meaningful reform. I think we are screwed based on where this plan is starting from. Seriously, this is the democratic plan. What do you think the ratings agencies would think? There is no way we can keep our AAA rating.
OH MY GOD!!
LESS GOVERNMENT WORKERS!!
Just imagine all the services that Americans will have to miss...
I think of it more as not paying for the service I don't get.
LOL this guys so funny... i can´t believe that stuff