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So, exactly what kind of fuzzy math are they using to say cutting $375 billion over 10 years are cuts? When they are spending over $1 Trillion a year? Real math shows the hole gets bigger and bigger. Are these politicians that stupid or what?
"Are these politicians that stupid or what?"
No. But they know that 90% of the population is that stupid. 9% are wealthy and dont care and 1% cant do anything about it.
<<=== politicans are stupid
<<=== politicans are smarter then us
When you factor in Bernank raiding $200 billion from govt pensions to keep the behemoth aloft just since QE2 end, we see what a total insignificant joke $375 billion over 10 years really is. These people should be dragged out and hanged.
Timmah took the pensions.
The budget deficit and the overall debt burden are two related but separate things.
The issue has never been whether or not the debt would grow, just by how much.
This is not 'fuzzy math', it's that 'new math' being taught to our young citizens (and non-citizens alike) in our illustrious public schools. This new kind of thinking has been backward tested in union halls across america and has been found to produce the desired result -- a growing population of citizens that cannot find its ass with two hands
Whoops. Now that's embarrassing when you are exposed by the CBO.
Look mom, Harry Reid has no peas.
BTW look at the word em.barr.ass.ing
"Look mom, Harry Reid has no peas."
I looked it up.
Boner: CBO estimates that the legislation would reduce budget deficits by about $850 billion between 2012 and 2021
Reid: CBO estimates that the legislation would reduce budget deficits by about $2.2 trillion between 2012 and 2021
But this is zerohedge, so just invert those and carry on with screaming at the mirror.
It is all bullshit... none of this matters. How about a VAT on Chinese crap sold here for deficit reduction only. If the Chinese don't like tell them to stick the worthless Treasuries up their ass and eat dirt not our imported wheat and corn.
That would be real smart. Let's increase taxes on goods sold here in the US so consumers pay more for things.
Reid and Boehner ---same horse different color. Let's just default already and get it over with!
Ass-clowns running the show that spend their lives in a bubble. It's not real money, there is no real impact to their pampered lives, the only risk is they get voted out and spend the rest of their lives as millionaire lobbiests. Freaking sit up in DC, never make a hard decision, negotiate wiith their buddies, and slap themselves on the back as Master Negotiators and Masters of the Universe.
Only now when the eyeballs are on them and the public takes a moment to look over the shoulder of their elected representative to watch them work do we really see what a bunch incompetent jackholes they are.
I still want to see the wars end. Can we include that in the deal anyway?
Iraq has remained on the Bush withdrawl schedule since Obama was elected. That is, until recently, when the schedule was slowed, and odds are pretty high that a new security agreement will retain 15-20,000 troops there indefinitely. That's right, Bush was ending the war faster than Obama has. Is this bizarre or what?
Afghanistan troop levels ramped up since Bush left office, as have casualties. That also is scheduled for reduction and that reduction is in the most plausible CBO baseline.
This is about money. It's not about wars. Wars can appear at any moment for any reason (one is getting ready near the Senkaku Islands right now, and it will go nuclear).
Just as with the USSR--- when the troops begin pulling back in force you will KNOW the collapse/implosion is at hand.
Bin laden of the deep says "winning now , bithcezz"?
Good article, but I take issue with downplaying the savings from interest payments. That's a legitimate savings. If you're going to base current projected deficits and total debt by including interest payments (which you should), reducing those payments should be taken into account as well.
Umm...yeah. You do realize that what you are saying makes no sense unless you assume that Congress has full legislative control over the interest rate they pay on the debt, right??
It's based on the best guesses of the CBO, just like anything that they put out.
Obviously if rates go up enough, the savings would be cancelled out, but that actually makes a pretty good argument against defaulting and creating an institutional selloff of Treasuries, doesn't it?
Stop being ridiculous. Do you know what a budget is? Budgets aren't ESTIMATES, they are BUDGETS. The meaningful parts of the budget are the parts that you have 100% control of. The meaningless parts are the parts where you don't have control.
The CBO is estimating the effect upon the total national debt. What part of that is so hard to understand? If a budget deficit grows, so does the interest payment. If it declines, so does the interest payment. Therefore, reducing the budget reduces the increase to the debt both by reducing spending and reducing interest payments.
You think the CBO includes that factor for shits and giggles?
ARE YOU HIGH? They are claiming the interest savings as BUDGET CUTS! NOT "estimates"! Go back to the top and read the piece.
They are off by such amounts as to be little more than monkey shit readings.
CongressWeasels and the 'Prompter have gotta be hatin' the internet and getting instantly called out on their self-serving, mealy-mouthed BS, with no intermediate MediaSpinner between the CongressWeasel and the Sheeple, ala Brian Williams and his ilk, providing a stamp of FauxCredibility
As a man said the other day:
If you voted for Obama in 2008 to prove you weren't a racist, then in 2012 vote for anyone else to prove you are not an IDIOT!
Yeah, because voting for Michelle Bachmann is really going to disprove that idiot theory.
At first, I thought Reid just had monumental contempt for the american people. Then I started to wonder, does he actually think like this? That maybe he might actually believe the shit that he talks?
Then I realized that it is a form of psychosis, and it all made sense.
But why stop there - savings from not declaring war on Mars: $1 quadrillion
Now that was funny
Can I see the cost breakdown of that $1 quadrillion.
To my knowledge, declaring war doesn't cost much. Just the price of a phone call or a postage stamp...
FED: I hereby declare war on UR-ANUS.
TD channeling Billy Mays!
wait, wait, I have insider info, they will pull out the black hole event horizon printing press, called TTIID (this time it is different) which solves ALL problems, it is in the final stage of testing and will be unveiled in 4,3,2...
Come on folks! It is a Harry Reid plan! That alone should scare the hell out of you. This is a guy who is felating anyone he can to keep his large REIT holding aloft and the guy who is in charge of Nevada. A place where 67% of homes have negative equity! What did you expect from this Dips**T!
'Your leaders shall be the very worst among you'.
they can't even get their maths right
hilarious...or in that position dangerous
obs. Schools need more funding
They're desperately flinging poo in hopes that something will be swallowed by the public.
and you wonder why republicans just say no?
no, but I DO WONDER why you listen.
Oh well , enjoy your time in prison. Funny they don't need bars anymore.
"savings from not paradropping suitcases full of $1 billion dollar bills for every US citizen: $333 quadrillion"
You mean to say that government was going to provide me with a suitcase of one billion dollar bills?
That makes it an entitlement. I REFUSE TO GIVE UP ANY ENTITLEMENTS. I'm calling my congressman!!!
What a bunch of assholes.
All smoke and mirrors.
They might as well get David Copperfield or Yuri Geller in to just make the damn deficits disappear.
Take a look at the coburn plan that nobody is talking about........$9 trillion in cuts and is still not enough........
Thanks for the link. I hadn't seen this one talked about anywhere... Here's the overview link:
There's some BS in there, but it actually looks to list actual, legitimate CUTS as opposed to hocus pocus 'savings' that involve not doing something that we maybe weren't going to do anyway.
Question: Are you smarter than a fifth grader (in economic studies)?
Answer: No, no you are not.
"But why stop there - savings from not declaring war on Mars: $1 quadrillion"
Sure you liberals will continue to just let the Martians continue to endanger our freedoms - as they hate OUR WAY OF LIFE. We must come together as a great nation and spare no cost to prevent this Martian jihad.
Martians are hard to negotiate with. You have to use force.
For 2012, can't they take 2011 expenditures and just subtract 450 billion, push it down on a pro rata basis to every program and tell them to make it work? then do the same for 2013 - 2015? This whole couch the reducting in a 10 year plan is simply bullshit.
the number of lying stupid bastards in Washington is unimaginable.
The reason this is not done is the GDP/Unemployment shock that would occur. Remember, Government Spending is a direct component of the GDP equation.
Obama's re-election advisors would unanimously recommend veto. A spike in unemployment going into the election is not acceptable.
FYI, note that this is the VERY SAME explanation for why the Democrats discarded a demand for tax increase. Tax increases are never phased in. They are immediate. If you phase them in, taxpayers maneuver to reduce their future liability and one never gets the revenue expected.
But regardless of that, tax increases can't get a majority of even Democrat votes. If it could, it would have been instituted when they had overwhelming majorities.
So it's spending cuts. The Democrats don't want any tax increases. They drain money from a teetering economy.
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