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As CBO Scores Boehner's (Laughable) Deficit Cut Plan, Jay Carney Admits Obama Still Does Not Have An Actual Plan
Even as the Congressional Budget Office has just released its score of the proposed Boehner plan, the president's spokesman Jay Carney was out earlier hemming and hewing for about 9 minutes in front of reports before it was made clear that Obama does not even have an actual plan to paper which the CBO can score. Yet surprisingly enough, as the National Review Online presents, even without actually having any plan, Obama is still happy to announce he will veto Boehner's plan. It is one thing to veto one plan over another, if one believe the "another" is better. But vetoing something on purely ideological grounds, in the complete absence of "another"... well that we have no idea how it can possible be spun aside from pure ideological demagoguery.
First, here is the summary assessment of Boehner's plan by the CBO.
In total, if appropriations in the next 10 years are equal to the caps on discretionary spending and the maximum amount of funding is provided for the program integrity initiatives, CBO estimates that the legislation would reduce budget deficits by about $850 billion between 2012 and 2021 relative to CBO’s March 2011 baseline adjusted for subsequent appropriation action (see Table 3). Savings in discretionary spending would amount to about $695 billion, mandatory spending would be reduced by $20 billion, and the savings in interest on the public debt because of the lower deficits would come to about $135 billion. (CBO’s cost estimates for legislation do not ordinarily include effects on debt service costs, but CBO provides such estimates, when requested, for broad budget plans.)
The legislation includes other provisions that would not have any direct budgetary effects. It would allow for staggered increases in the debt limit through a series of actions by both the President and the Congress. If all such actions occur, the debt limit might eventually be raised by $2.5 trillion. In addition, the bill would establish procedures for enforcing the caps on discretionary spending and would provide for a vote on a balanced budget amendment before the end of December 2011. Furthermore, the legislation would establish a Congressional committee on deficit reduction charged with a goal of reducing the deficit by $1.8 trillion between 2012 and 2021.
Granted, Boehner's plan is an abysmal joke, with $4 billion in discretionary spending cuts in 2012 growing mysteriously to $111 billion by 2021, and $0 billion in debt service reduction for 2012 and 2013 (growing to $37 billion in 2021), for a combined cumulative deficit impact of $850 billion, which on a NPV basis is more like $50 billion, but at least it is a plan.
In the meantime, here is what is going on on the other side of the spectrum. From the NRO:
Or the lack thereof. After bobbing-and-weaving for nine minutes, Carney finally says what everybody knows: the president won’t put his plan on paper because he doesn’t want it to become “politically charged” before a compromise can be reached. In other words, you’ve got to pass it to find out what’s in it:
UPDATE: So POTUS doesn’t have a plan, as such. The Republicans, for their part, have several. But the president’s senior advisers are recommending that he veto the latest.
Farce. Pure, unbelievable Farce. And the country is about to implode as these clowns continue their ridiculous posturing.
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Plans...budgets...the Dems are above such petty things.
It does help to have the MFM in your pocket.
We may not be able to address our current debt ceiling woes, but we can at least put them to a good beat (via ICYMI).
I called my credit card issuer about raising my debt ceiling today.
The nice man said "What are you talking about?"
I explained that this increase was really, REALLY important, because otherwise I was going to have to throw my grandma out on the street because I had maxed out the card. I also explained I had spent all the cash she had given me to keep for her when she got too old and couldn't work. And that I really couldn't afford to keep her around without a raise on that debt ceiling.
He hung up in my ear ;-)
Raise your personal debt ceiling !! Brilliant !!!
I spit coffee all over the keyboard with that one.
The only thing the USA manufactures these days is YOUR OPINION !!
http://www.youtube.com/watch?v=4PQrz8F0dBI
Billion Chinese and Indians are willing to work as slaves for the benefit of top 0.1% corporate executives and shareholders. American and European middle class has no chance unless a revolution happens.
Awesome nmewn. What do you call the currency you print and force your creditor to accept as legal tender good for all debts public and private? OTOH, if you're using gold, I'd be happy to raise your debt ceiling as long as you'll give it to me for 'safe storage' while we're doing business.
BBC documentary "Nightmare in the city that never sleeps" shows what happened in New York City during the 1970s and is an excellent guide what is coming to America when "no one shows up at our debt auction". Its playing on CNBC right now.
J.P.AMERICA INVADED AFGHANISTAN WITHOUT A PLAN!
WHO THE FUCK NEEDS A PLAN THESE DAYS?!
No serious now... LET THEM DO THE GAY TEST! FIRST ONE WHO BACKS DOWN LOSES!
FIRST ONE WHO BACKS DOWN LOSES!
It should be "FIRST ONE WHO BACKS UP LOSES!"
Last time Congress Hit a budget Number was........never!
The Jackson Administration.
all he did was veto
made all the Locofocos happy.
Beware the Boner!!
That was the funniest shit I have ever read - I give you +100.
I can't figure out which is more: seeing Henry Wu in the Tigger costume canoodling with a teenager or Boehner trying to convince the American people he isn't addicted to using "Man Tan". We are so screwed!
I'm honestly suprised no one has been called a racist yet.
NO NEW FIX OLD!
I guess you missed this gem...
http://weeseeyou.com/2011/07/19/rep-sheila-jackson-lee-calls-out-republi...
Ahhh...all is right in the world again :)
Did I understand that woman correctly?
She is a racist?
That is all she said.
I'm continually amazed at the websites people find.
The word "bitchassness" from the article that accompanies this video is my new favorite word, I think. Just say aloud a few times, it sounds especially good with a nice stress on the second syllable.
docj,
You cannot pay any attention to that Bat shit crazy racist biatch.The only reason she's in office is because her Gerry mandered district is 99.999 black.
She is a LAUGHING STOCK in Texas everywhere outside her district.
She, like Jesse, Al, and others are nothing but agent provocateurs,on the Govt dole.
Been stealing from the their bases for years, and catching Govt money on the flip side.
I agree. Budgets are racist!
Sexist too. We still have checks, dammit.
That damned racist math.
You, sir or madam, are a racist. (this new font is so small I can hardly read it)
Use Firefox.
Zoom:
In the menu:
View>Zoom>Zoom In/Out (be sure you have the "Zoom Text Only" option checked.)
Change Font Style:
In Firefox menu:
Tools>Options>Content Tab>Font & Colors>Choose your font
Then click the "Advanced" button and un-check where it says:
"Allow pages to choose their own font, instead of my selections above."
a simpler way is to hold control and press the + key to desired zoom.
What a disgrace.
Not true that Zero and the Demicans don't have a plan. They do: debt ceiling increase w no spending cuts. That will break the Republicrat Party in half & (presumably) ensure Zero's 2012 re-election. Republicrat plan was simply to play to the base, and then (w some political cover) cave; except for the TP they are, after all, all invested in the same Ponzi. To bad Zero's not going to give the Repubes any cover.
Too bad everything you want in life is not going to come true.
http://www.youtube.com/watch?v=KlyXNRrsk4A&ob=av2e
JUNK JUNK JUNK
Your vote means nothing. You are a powerless debt slave. Keep paying your taxes and digging your grave, bitches.
Know your role plebs.
rather than "keep paying your taxes" why don't you Stop Paying Your Taxes
Govts greatest power, to tax society, is also its greatest Achillies Heal.. stop paying your taxes (a few million of you) and you bring this entire shamblic train weck to its knees
until then you are endorsing and sponsoring it like good little fleeced zombies
You have a choice, you have all the power you need, Wakey Wakey
Settle down . They showed some leg supposedly .
What bothers me is nobody has even started to figure out what happens if the ceiling doesn't get raised.
It's just too horrible to consider!!!!
Plus it would probably illustrate just how warped their priorities are.
Could be great truth there.
Don't raise the debt ceiling, and see who they decide to pay.
It's a test.
It is the last method of controlling DC spending. It's better than doing nothing and letting the nonsense continue. Bring forward the downgrade so that we can get about the business of defaulting.
You know, I have a feeling that folks in other lands really have no idea how bad this situation is, the debt issue and the economy. Funny. They keep shuttling capital into America for fear of losing it in Europe.
The IRS collects $180B per month. Interest on the debt is $30B per month. SS benefits cost roughly $28B per month. Other programs will be cut back and parts of the government shut down.
FYI - There are over 10 million people on SS disability, including nearly 2 million children. The biggest scam ever and one of the reasons SS is going bankrupt.
sun tzu, you are mistaken when you say ss is going bankrupt. it is bankrupt. ss holds 2 trillion or so in ious from the treasury!! so timmy borrows to pay back the ss every year because ss revenue doesnt meet ss expenditures!! beautiful system.
Your Government has taken 14 Trillion dollars out of Amerika and you are bitching about some smart people who work the system to get a couple hundred bucks a month , and don't tell me that if it was not for them milking the syetem Amerika would not be as it is today , and next you will be telling me that its immigration thats the problem , Tell me where you live and I will come rob your house and you can punish the kids by stopping there allowance for putting dirty footprints in the house,
I have known at least two families that openly bragged that they collected social security checks for their children 'that are disabled' but there is nothing wrong with the children that isn't wrong with the parents. You are right, it is a scam.
well, i'm dyin' to find out how these fuckers get on the gravy train (call BS on these stories). ya know why? everybody I've ever know tried to get on SSD had to get a fuckin' lawyer (tm), after initial & appeal DENIED. plus it took 1 to 3 fuckin' years. PLEASE SEND ME THE INSTUCTION MANUAL (pronto)
You just have to understand the system.
Your first application will be denied, no matter if you are in an iron lung.
Then you hire a disability attorney, and you get approved.
Almost like there was a plan, or something.
Pretty much this. In my former line of employment I spoke to people in the "Coal Belt" all the time. I would say at least 85% of those I spoke to were on Disability, some as young as 22. These people will be a drag on the system for 40+ years. They know how to game the system and they are good at it.
The kicker is when they take the money and use it to only pay for coffee and pay property taxes after they have withdrawn from the system. Galt for the 21st century.
Can't say I disapprove at this point.
How stupid would they have to be to lie about it? Bad enough they brag they are basically stealing from us taxpayers, and then to think they are making it up? Problem with that theory is how were they getting by if they are lying? Lifestyle of these two families was equal to barely getting by. Have you been in a Social Security office? I went for a job interview at our local office, our credit union has less defense. They have armored glass between the "customers" and the agents, and an armed guard out with the "customers". Our tax money at work.
Time to end the ponzi scheme.
I know 12 people on S.S. that paid in the system and recieve income now. That proves that S.S. works considering you used two people to condemn a program.
We're talking about people who get on Social Security Disability, not people who work their whole lives that are forced to pay into a Ponzi Scheme who now receive Social Security.
They should make getting SSDI nearly impossible.
I am glad you are taking these people into your home, how very kind of you.
Three red arrows by liberals?
Buy private insurance if you want disability insurance.
Tons of illegals, recent "immigrants" and their children are on SS disability. I got a spam email on how to get on SS disability.
I would not worry as long as Apple, Travel Zoo and Chipolte were up at the close.
I looked it up what you'll all miss out of services America pays for.
I'm not even American and I can at least pick out 30 departments that can be scratched!
HERE IT GOES:
Personal Income Tax Division of the IRS
National Endowment for the Arts (Can't sell your art privately?)
National Wild Horse and Burro Program (Huh?)
Dept. of Education
Dept of Energy
FEMA (a corrupt organization if there ever was one--leave it to charities)
FDIC (a sham program with only a fraction of funds needed to save banks)
Freddy Mac & Fannie Mae (helped cause present economic conditions)
Administration on Aging (AoA)
Administration for Children and Families (ACF)
Administration on Developmental Disabilities (ADD)
Administration for Native Americans (ANA)
Children's Bureau (CB)
Family and Youth Services Bureau (FYSB)
Head Start Bureau (HSB)
Healthy Marriage Initiative (HMI)
Low Income Home Energy Assistance Program (LIHEAP)
Office of Child Support Enforcement (OCSE)
Office of Community Services Block Grant (OCS)
Office of Family Assistance (OFA)
Temporary Assistance for Needy Families (TANF)
Office of Refugee Resettlement (ORR)
President's Committee for People with Intellectual Disabilities (PCPID)
Agency for Healthcare Research and Quality (AHRQ)
Agency for Toxic Substances and Disease Registry (ATSDR)
Centers for Medicare and Medicaid Services (CMS)
Health Resources and Services Administration (HRSA)
Indian Health Service (IHS)
National Institutes of Health (NIH)
Office for Civil Rights (OCR)
Office of Minority Health (OMH)
Program Support Center (PSC)
Substance Abuse and Mental Health Services Admin.(SAMHSA)
Office of the National Coordinator for Health Information Technology (ONCHIT)
Center for Faith-Based and Community Initiatives (CFBCI)
Employees' Compensation Appeals Board (ECAB)
Employment Standards Administration (ESA)
The Office of Labor-Management Standards (OLMS)
Office of Workers' Compensation Programs (OWCP)
Wage and Hour Division (WHD)
Employment and Training Administration (ETA)
Employee Benefits Security Administration (EBSA)
Women's Bureau (WB)
Job Corps
Bureau of East Asian and Pacific Affairs
Bureau of Economic and Business Affairs
Bureau of Educational and Cultural Affairs
Internet Access and Training Program
Bureau of European and Eurasian Affairs
Bureau of Human Resources
Bureau of Information Resource Management
Bureau of Intelligence and Research
Bureau for International Narcotics and Law Enforcement Affairs
Bureau of International Organization Affairs
Bureau of International Security and Nonproliferation
Bureau of Legislative Affairs
Bureau of Near Eastern Affairs
Bureau of Oceans and International Environmental and Scientific Affairs
Bureau of Overseas Buildings Operations
Bureau of Political-Military Affairs
Bureau of Population, Refugees, and Migration
Bureau of Public Affairs
Bureau of Resource Management
Bureau of South Asian Affairs
Bureau of Verification, Compliance, and Implementation
Bureau of Western Hemisphere Affairs
Counterterrorism Office (which produces the Patterns of Global Terrorism report)
National Foreign Affairs Training Center (former Foreign Service Institute)
Office of International Information Programs
Office of the Legal Adviser
Office of Management Policy
Office of Protocol
Office of the Science and Technology Adviser
Office to Monitor and Combat Trafficking in Persons
Office of War Crimes Issues (They blew the Bush war crimes)
Car Allowance Rebate System (Cash for Clunkers)
Cash for Appliances Program
Bureau of the Public Debt
Community Development Financial Institution Fund (CDFI)
FHA
HUD
INDEPENDENT AGENCIES Of the U.S. GOVERNMENT;
National health and insurance system
African Development Foundation
Advisory Council on Historic Preservation (ACHP)
Agency for International Development (USAID)
American Battle Monuments Commission (ABMC)
Appalachian Regional Commission (ARC)
U.S. Arctic Research Commission (USARC)
Central Intelligence Agency (CIA) (EVIL WAR-MONGERS)
US Commission on Civil Rights (USCCR)
Commission on Security and Cooperation in Europe (CSCE)
Corporation for National and Community Service (CNCS)
Court Services and Offender Supervision Agency (CSOSA)
Delaware River Basin Commission (DRBC)
Equal Employment Opportunity Commission (EEOC)
Export-Import Bank of the United States (ExIm)
Farm Credit Administration (FCA)
Federal Communications Commission (FCC)
Federal Election Commission (FEC)
Federal Maritime Commission
Federal Mine Safety & Health Review Commission (FMSHRC)
Federal Reserve System (a pseudo government, semi-private organization)
Federal Retirement Thrift Investment Board
Federal Trade Commission (FTC)
Foreign Claims Settlement Commission of the United States (FCSC)
General Services Administration (GSA)
Institute of Museum and Library Services (IMLS)
Inter-American Foundation (IAF)
International Trade Commission (ITC)
Learn and Serve America (LSA)
National Capital Planning Commission (NCPC)
National Credit Union Administration (NCUA)
National Endowment for the Humanities (NEH)
National Ice Center (NIC)
National Labor Relations Board (NLRB)
National Railroad Passenger Corporation (Amtrak) (NRPC)
National Science Foundation (NSF)
National Transportation Research Center (NTRC)
Office of Government Ethics (OGE)(LOT OF GOOD THEY DO)
Office of Personnel Management (OPM)
Pension Benefit Guaranty Corporation (PBGC)
Selective Service System (SSS)
Senior Corps
Small Business Administration (SBA)
Susquehanna River Basin Commission (SRBC)
Tennessee Valley Authority (TVA)
United States Trade and Development Agency (TDA)
BOARDS AND COMMISSIONS;
Financial crisis inquiry commission
Administrative Committee of the Federal Register
American Battle Monuments Commission
Appalachian Regional Commission
Architectural and Transportation Barriers Compliance Board (Access Board)
Arctic Research Commission
Arthritis and Musculoskeletal Interagency Coordinating Committee
Barry M. Goldwater Scholarship and Excellence in Education Foundation
Broadcasting Board of Governors
Chemical Safety and Hazard Investigation Board
Chief Acquisition Officers Council
Chief Financial Officers Council
Chief Human Capital Officers Council
Chief Information Officers Council
Citizens' Stamp Advisory Committee
Commission of Fine Arts
Commission on International Religious Freedom
Commission on Security and Cooperation in Europe (Helsinki Commission)
Commission on the Intelligence Capabilities of the United States
Commission on the Intelligence Capabilities of the United States Regarding Weapons of Mass Destruction
Committee for Purchase from People Who Are Blind or Severely Disabled
Committee for the Implementation of Textile Agreements
Committee on Foreign Investments in the United States
Coordinating Council on Juvenile Justice and Delinquency Prevention
Delaware River Basin Commission
Denali Commission
Endangered Species Committee
Federal Accounting Standards Advisory Board
Federal Advisory Committees
Federal Executive Boards
Federal Financial Institutions Examination Council
Federal Financing Bank
Federal Geographic Data Committee
Federal Interagency Committee for the Management of Noxious and Exotic Weeds (GOTTA LOVE THAT ONE!)
Federal Interagency Committee on Education
Federal Interagency Council on Statistical Policy
Federal Laboratory Consortium for Technology Transfer
Federal Library and Information Center Committee
Harry S. Truman Scholarship Foundation
Illinois and Michigan Canal National Heritage Corridor Commission
Indian Arts and Crafts Board
Interagency Alternative Dispute Resolution Working Group
Interagency Council on Homelessness
Interstate Commission on the Potomac River Basin
J. William Fulbright Foreign Scholarship Board
James Madison Memorial Fellowship Foundation
Japan-United States Friendship Commission
Joint Board for the Enrollment of Actuaries
Joint Fire Science Program
Marine Mammal Commission
Migratory Bird Conservation Commission
Millennium Challenge Corporation
Mississippi River Commission
Morris K. Udall Foundation: Scholarship and Excellence in National Environmental Policy
National Bipartisan Commission on the Future of Medicare
National Indian Gaming Commission
National Park Foundation
Northwest Power Planning Council
Nuclear Regulatory Commission
Nuclear Waste Technical Review Board
Presidio Trust
Regulatory Information Service Center
Social Security Advisory Board
Susquehanna River Basin Commission
Taxpayer Advocacy Panel
United States Holocaust Memorial Museum
Veterans Day National Committee
Vietnam Educational Foundation
White House Commission on Presidential Scholars – "Presidential Scholars Program"
White House Commission on the National Moment of Remembrance
SD, there are real gems in your list. What to think of PCPID - People's Committee for Presidents with Intellectual Disabilities? You can't make this stuff up.
Carter and W. need some love too.
When it comes to wasting money you can't have enough worthless departments and commissions. After all the money is free and infinite, just ask Zimbabwe Ben for a few digital 1s and 0s.
Sudden Debt for Senate ;-)
The Purple Shirts would just bite his fingers off.
I guess we should explain the timeless wisdom of bringing a gun to a knife fight? ;-)
Never fight fair when you are fighting for your life.
There is no rulebook.
I say we make Sudden Debt US President. I recall him telling us he was born in Hawaii. I swear! C'mon SD, show us that birth certificate!
;-)
Don't go cutting my Federal Interagency Committee for the Management of Noxious and Exotic Weeds or the terrorists win.
They won when you sold out and bought the Roundup.
You don't like Monstrous Santa? Why, just because your rats won't eat the stuff they grow? Hippy.
It requires a government this large with this level of spending to create a black middle class
You are a disgusting peice of shit.
But then you already know that.
Sorry, Art. The facts support Trav here. The bulk of the so-called black middle class is a direct result of government hiring and affirmative action policies generally.
Your pathetic appeal to PC attitudes over reality is a betrayal of the basic commitment to truth that makes ZH the unique site it is.
Try to do better.
What 'truth'? All I see is a buncha seedy backwater 'opinion fluffers' like yourself. The only 'fact' being supported by you, Trav and the 'thumbs up for albinos' peanut gallery is the repulsive illustration of your inexcusable ignorance circle-jerk.
I identify with few of trav's thoughts but he is right. Johnson used a burgeoning bureacracy, postal service and other Federal make work programs to help lift blacks out of poverty. Unfortuneatley the USPS is broke as well as the Fed gov and falling out of the middle class will make people with minimal education and most of that ideological crap from primarily .gov schools dangerous people indeed.
Where the FUCK is the Home Loan Bank Board?
And how about the Bureau of Lisa Ann's Tits? That needs to go, too. Lisa Ann can take care of her own tits, thank you very much.
You forgot the fed?
The Fed is not a government agency, it is a privately-held cartel. Care to know who owns it? Here ya go:
http://www.save-a-patriot.org/files/view/whofed.html
That's an org chart for the shareholders of the Federal Reserve Bank. Like it?
Come on, seriously, all these departments are needed.
Can you think of America without "National Indian Gaming Commission"?
"Endangered Species Committee" is so endangered!
without "Financial crisis inquiry commission", how would we deal with the next financial crisis?
We just can't elect a competent president without a "Federal Election Commission"
Phuck you for trying to take out the Office of Protocol. Now let's look closer at how the back and forth is going of late:
http://www.youtube.com/watch?feature=player_detailpage&v=UfC4u5GCy3I
Apparently the first program to be success, American Self Sustainability, was scratched for the more worthwhile, American's Sustaining Sofas. THAT agency, A.S.S., willl never be scratched although it probably is being done quite regularly by it's beneficiaries.
Maybe that's the plan.
On the "good" side: ALL the politicians are held harmless because there was nothing for them to vote on so the forthcoming "austerity" is without their blessing and they get re-elected. The American people get fucked real hard but it's not their fault. Time to reboot and rebuild. Americans will gladly work for less than Chinese labor. It's the patriotic thing to do and America gets a lower carbon footprint.
On the "bad" side: the Soros-Obama machine has been salivating over the destruction of the USA. Soros for ego and money, Obama for ego and the chance to save Africa and the Mexicans and everybody else from the evil white folk and the mega-corporations that own him. The American people get fucked real hard but it's not his fault. Everything would have been fine if not for those racist Tea Pary scum bags. Time to reboot and rebuild. Americans will gladly work for less than Chinese labor. It's the patriotic thing to do and America gets a lower carbon footprint.
The forthcoming marshall law and confiscation of guns will be a necessity in order to restore democracy and weed out all the malcontents. The MSM is totally controlled and soon the internet will be. The government can't have people getting too much information so short wave radios will be jammed.
But look at it this way, under the New Order, we still have Football and Porn, the Soma of the Masses.
Mugabe to the Fed, btw.
Oh, wait....
An open letter from Judge Andrew Napolitano to Speaker John Boehner
http://www.youtube.com/watch?feature=player_embedded&v=iyErkBhZaFw
What will happen if the ceiling is not rasied is the same thing that happened January 1 2000, May 21 2011 and every other drop dead date. Nothing.
Plans are for households that live within their means or centrally controlled governments (those evil communists).
Living beyond ones means and without a plan is for democracies - see Greece and USA.
Budgets, debt ceilings . . . debt floors and wallets are for wimps. Long live unicorns, mermaids, and Thor, god of thunder!
The problem with the plans of Central Planners is that everyone is afraid to tell the truth. Collapse comes even quicker.
You mean like USSR and Cuba?
The USSR could not be reached for comment, of course.
Actually, like the PRC if the rumors I'm hearing about bank balances in China are true.
How is Dimon going to get to be Treasury Secretary if Obama doesn't get elected again? Does this mean we are going to be stuck with Blankfein as Treasury Secratary?
Dimon hedges both sides of the 'politcal devide' (chummy Dem/Rep under-table carve up)
He's like Bernanke and Timmay or JPMorgan staff and the Regulators, inter-changeable and popular whichever position in the Club Parasite Matrix you put him
Thank god. I was getting worried there. I mean, I would settle for Blythe, but only if she did it in a clown suit.
Brilliant! Unprecedented!Inscrutable!
The one without a plan will veto the one with the plan, so in the end, the country will end up with no plan!
Brilliant! speechless!
Spendthrift, unlike austerity, does not need a plan, just a will to spend...
Good. That is exactly what needs to happen before this nation has even the remotest chance of recovering. The sooner it happens, the better, which is exactly why I think we are on the road to, first a downgrade, and later a default, making everything much more painful than it has to be...with the caviat that if they play the charade for too long, the Republic will simply crumble and there will be no recovery. Enter despotism.
What Moody's and S&P are waiting for is the real mystery. Downgrades should have already come forward, expediting this process.
Ed Zachary! It's a three ring fucking circus and the clowns are out in force! Welcome to the Greatest Snow(job) on Earth! I can hear the clown theme now followed shortly(pun intended) by a belittled O, Reid, and Boner climbing out of a clown car on the front lawn to announce yet another 'No Deal!'. JFC, put these ass-clowns on "Let's Make a Deal" and give them the same shitty crap they do on the gameshow and let's see how they like swimming with the masses. These guys don't have the first f'in clue what it's like to be an average citizen and could give two shits about the people they supposedly represent. Burn it down and may the best prepared win...
They want it to implode. Then they can usher in a new era of utopian socialism. And it will work this time because it's "them" doing it. We will have world peace , free health care, ckean environment,and all be in harmony with the world. Or we will be serfs. I'm not quite sure which way thing will go. Resistance is futile.
It reminds me of the movie Demolition Man. They created the perfect metropolis called San Angeles after the country collapsed. It was run by a "benevolent" dictator, only healthy vegetables were allowed, and no foul language.
"..reminds me of the movie Demolition Man... run by a "benevolent" dictator, only healthy vegetables were allowed, and no foul language"
Sounds more like Animal Farm ?!
Don't forget that Wesley Snipes is still in jail for taxation offences......
It is beyond laughable that anyone would attempt to apply relevant value to a budget deal beyond months much less years while the unit of account is being purposely and aggressively devalued.
Read When Money Dies for a template on how Germany's efforts turned out.
http://www.amazon.com/When-Money-Dies-Devaluation-Hyperinflation/dp/1586...
Why should this come as a surprise? Liberals never have a plan just a dream with a hope of change.
And the reason that anyone would believe anything from the Congressional Budget Office is what exactly?
'Cause it wasn't on the list?
Exactly, The CBO, and the CPI, is in the BAG.
Everyone has a plan, 'till they get punched in the face...
- Mike Tyson
Mike Tyson knows all about punching people in the face. I would take his word for it. I remember I LMAO when this happened. Don't remember what year it was.
Like just about all of Mike Tyson's fistfights, the one early last week was quick. Gunfighter quick. One punch, they say, a right uppercut to former contender Mitch Green's left eye, which swelled and closed beside a nose suddenly in need of five stitches. The novelty was that the fight took place at 4:30 a.m. on a Harlem street—not exactly the hour at which one would expect to find the undefeated heavyweight champion of the world scuffling—even if it was, as he claims, in self-defense.
http://sportsillustrated.cnn.com/vault/article/magazine/MAG1067694/index...
Even the Soviet Union managed to turn out yearly plans as well as five year plans. They might not have worked, but EVEN THE FRIGGIN' COMMUNISTS HAD A PLAN!
PresBO wouldn't even make an effective communist. Sigh....
(BTW, where are those still missing budgets?)
Shshshshshsh
"Five year plan" is a socialist tell.
Don't let them know we are on to them.
MSNBC suspends analyst after Obama remark Comments
Mark Halperin has been suspended indefinitely as MSNBC's senior political analyst. Mark Halperin, you may now insert foot into mouth. Time magazine's editor-at-large and MSNBC's senior political analyst slipped up big time while appearing on Joe Scarborough's Morning Joe today.
Did we delay that?" Scarborough said. MSNBC has since suspended Halperin indefinitely, saying in a statement, "We strive for a high level of discourse and comments like these have no place on our air." Halperin has offered his own apologies, including one on the air and several more mea culpas throughout the morning. "I completely agree with everything in MSNBC's statement about my remark. I believe that the step they are taking in response is totally appropriate," he said in a statement.
"Again, I want to offer a heartfelt and profound apology to the President, to my MSNBC colleagues, and to the viewers. My remark was unacceptable, and I deeply regret it." He also tweeted his regret. "I want to offer a heartfelt and profound apology to the President and the viewers of Morning Joe. My remark was not funny."
no...it was funny...and accurate...who would have thought that political speech was unprotected...
...by the liberal establishment.
Why can't we all just get along
(hopie, hope, hope)
Yes, that was a real problem calling Obama a dick.
After all, he isn't a dick. He's a pussy.
Mangina with legs.
He is neither. Hes a dildo - a plastic toy used to fuck people with.
he's a spineless bankers rent boy ....it's a full house of them since US 'Independence' in fact
What does "d***" stand for?
Don't watch TV.
d*** stands for dick. Douche is spelled d*****.
Jay Carney, spokesperson for the political carnival...how appropriate. When are people going to realize this is nothing more then another campaign ralley for the president? I'm really getting tired of this political dog and pony show, it only shows how deeply troubled America is. Watching the bitch slapping speeches last night made my stomach turn. Maybe Obama should have given the same speech he did back in 2006?.. It would have shed a little more light on how he always seems to say one thing and do the complete opposite...
" 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.".....Sen. Barack Obama (D-IL), March 20, 2006......
You watched the speeches? Are you a masochist? Watching them is torture. Plain and simple.
Enjoy your life while you still can. Giving these political vermin the time of day and validating their crap by watching the speeches is a waste of good quality time. The day will come where you will realize that and you can't get that time back.
Obama plan is simple. Raise the debt ceiling. Next do away with the silly fraud of the ceiling.
This is the poorest way to legislate budgets. Almost guarranteed to produce a bad budget. Makes no allowance for new developments, such as war or famine or depression.
It is good for flights of fiscal fantasy.
Perhaps you would like to look up the word, "discipline."
It is a useful word....in life or government.
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Obama doesn't have a plan. He doesn't even have a proposal. All he has is a teleprompter and he's swatting flies with it.
The only plan he has had in three years was in February and it was voted down 97-0 in the senate because it doubled the debt. The last time he had anything substantial to say about the debt ceiling limit was in 2006 when he voted against it, saying it was a gross "lack of leadership" and "lack of fiscal responsibility" by Bush to have to raise the debt limit.
They promised to be the most transparent administration in the history of the United States. Pathetic.
Hitler, spoken to Otto Strasser, Berlin, May 21, 1930:
"I am a Socialist, and a very different kind of Socialist from your rich friend, Count Reventlow. . . . What you understand by Socialism is nothing more than Marxism."
Hitler, spoken to Otto Strasser, Berlin, May 21, 1930:
"I am a Socialist, and a very different kind of Socialist from your rich friend, Count Reventlow. . . . What you understand by Socialism is nothing more than Marxism."
Note under the new design, the double post feature has expanded to the triple post. Post inflation, of a sort.
You know, its all just a political soap opera (perfect drama to politically snipe until 2012). Consider for once none of this is true except for the fact they want to take more from us.
F.A. Hayek in his Road to Serfdom (p. 168) said:
The connection between socialism and nationalism in Germany was close from the beginning. It is significant that the most important ancestors of National Socialism—Fichte, Rodbertus, and Lassalle—are at the same time acknowledged fathers of socialism. …. From 1914 onward there arose from the ranks of Marxist socialism one teacher after another who led, not the conservatives and reactionaries, but the hard-working laborer and idealist youth into the National Socialist fold. It was only thereafter that the tide of nationalist socialism attained major importance and rapidly grew into the Hitlerian doctrine.
European National Socialists loved their own country. I don't see any chance for the current crop of American socialists to evolve to that level. American socialists hate their country, hate their own kind and hate everything America stands for. While I can find agreement with their logic in certain aspects, the fundamental problem is that the American socialists themselves have destroyed the nation from within. America has a problem with morality and humility.
+1 Great points!
What about current European socialists letting islamics overrun their countries. Do they love their country?
.
Thankfully, the Multicultural doctrine is already on the way out. Diversity means a nice trip to go see MENA and the Pyramids, not bring them home with you.
Alas, another failed socialist human guinea pig experiment that caused misery for all, gone with the now old familiar refrain -- "Clean up on aisle 2". The Germans, UK, France have mercifully already come out against it, to save themselves. Love is never having to say you're sorry.
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Agree.
American socialism has finally devolved into rhetorical marxist nihilism of free markets and self government to make way for central planning by vested interests. The Constitution and rule of law are merely an obstacle to be relentlessly overcome.
"Results matter. Their (socialists) consistently reckless actions and bad results are usually the opposite of their stated "good" intentions and planned outcomes. Socialism has long since been discredited, but the rhetoric is still the oldest trick in the book available to politicians to get elected, by making promises to gullible people that cannot possibly be kept."
--- Thomas Sowell.
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"...rhetorical marxist nihilism of free markets..."
What a load of twaddle.
"Socialism has long been discredited..."
time to play the DEBT CARD:
http://www.guardian.co.uk/news/datablog/2010/may/27/debt-deficit-oecd-countries-data
Hunh, well something certainly has been discredited there, that's for sure. Not sure if it's 'socialism' though...mb it's just you.
Nazi means national socialist party.Communist means international socialist party.
Under Nazism, man exploits man. Under Communism its the other way around.
BREAKING: Boehner is going to rewrite legislation.
After a CBO score that came in too low with savings, Boehner spox announces they'll "rewrite the legislation to meet our pledge."
In other news, after meeting with every big hedge fund, money manager and bulge bracket bank in the last week, S&P won't take sides on either plan (Reids or Boehners), noting that they don't want to appear politically biased. The joke really is on us.
That spokesperson made an excellent comment.
This is indeed what happens when you have an actual plan on paper that can get an independent audit. It generates a better final product.
Boehner will now have to cut more, and much of it in FY2012. CBO finding this result to be light is excellent procedure. Put the numbers on paper and have independent review. This was well done.
Somehow this reminds of the scene in Thunderdome when they were fixin' to ride the train to nowhere....
D'Bag Central - Carney is aptly named, his job is literally to be a Carnival Barker on a daily basis so people get distracted and lose sight of the other Carneys picking your pockets
Yawn, I have no doubt a deal will be reached and it will be the worst of all worlds. If politicians are good at anything it's delivering a good deep dicking to the public while crying "I didn't want to drive it in balls deep! ______________ made me do it! Think of the children!". They all want the ponzi to go forward, they are just dickering over who gets the blame this round.
These +/- arrows on Zero Hedge are an insult to our intelligence. Yet your analysis is always spot-on.
Ah, junker, so sad to be you. I hope you figure your shit out soon enough.
Last summer on this site I was reading about how the Cold War may or may not have been bullshit. This summer you get:
http://www.youtube.com/watch?v=KlyXNRrsk4A&ob=av2e
maybe they'll get moved up on the bar with our names, which reflect our intelligence L0L
vic, we just got them yest, after the powerzTBE disbled the hottest button on the internet, the zH junk vote. so, i think the neg digitz reflect that some people were asking for something like this, who didn't like the j-button system, and i think they would like to try it longer before fighting about it, right now, that's all. or maybe they just wanna kill you.
peace
Republican legislators won't compromise because their lobbyists and campaign contributors want to keep all those tax loopholes, deductions and credits. They paid good money for them, and they demand satisfaction. Do they care if the US goes to hell? No. They're multinational corporations, and all countries are the same to them: nothing but cash machines and customers. They see the survival, let alone success, of the US as irrelevant.
Whoa, Whoa, Whoa. You can't say that on a message board full of right wing conspiracy theorist. It would be like saying the Republicans refuse to raise taxes, because they could give a shit less about people not in the top 5% of wealth.
Double whoa, whoa.. You can't say Obama is owned by the bankers as he took the vast preponderance of Wall Street money last election and no you cannot say he rigged his campaign website to collect millions in small donations from unnamed sources ( Middle East), what, you didn't say that, oh then never mind..
At this point it makes no sense to not raise your own credit limit while your card is still good. Raise the limit as high as they can. Use the new found riches to charge solar panels for everyone. Buy some nice golf courses in Ireland, Islands in Greece, mineral deposits everywhere available etc. Then call that number on the $200 bankruptcy/divorce sign and lets all go party.
Very well put Ty. I voted for Obama. I had no choice. But this is beyond pathetic. It's simply disgusting.
Obama will, if one were to truly keep score, go down as one of bottom 5 worst US Presidents with Bush2 there to keep him company.
Did someone have a gun to the head of your wife or child?
I really wonder why you had "no choice" but to vote for an empty suit promising "hope" and "change". Sounds sick.
Because I voted AGAINST a crackpot wolf shooting whack-job. Unfortunately, we have been reduced to a rigged 2 party contest and that time around I was no way taking chances with a deranged woman.
If you can't comprehend that and refrain from telling me to vote something else then you are a fucking moron! Got it?
You didn't vote AGAINST anything. You voted FOR the continuation of the system. Wake up.
The only thing the USA manufactures these days is YOUR OPINION !!
Please don't tell me to wake up. We are all manufactured. But since you are a WANNABE Anarchist or some such thing you wouldn't know what the ISA would be, would you now?
And if you knew me you would know. But you don't.
So before you pretend to be radical in the safety of your home and opine on forums you should put this into perspective: if you were a TRUE RADICAL you would have VOTED for Palin; and you would want the most EXTREME (MAINSTREAM XTRA-RETARDO INBRED RUBE) PEOPLE IN POWER to EXPEDITE THIS SHITSTORM.
But alas, just like Chomsky in the comfort of his mainstream bankster bluechip investments and 401K plans and university, you are living in bad faith.
Now why don't you meet me someplace so I can give you an acid bath and turn the rest of you into a frothy vagina? Bitch.