US '13 days from financial disaster'

[Illuminate]

Re: US '13 days from financial disaster'

Making any progress with the US gov't is a fucking mission.

[res0nat0r]

Re: US '13 days from financial disaster'

Mission: Impossible IMO

[vinnie97]

Re: US '13 days from financial disaster'

Wow, so under an administration that will have spent more than all previous Presidents combined by the end of the first (and hopefully last) term, the blame is somehow squarely in the Republicans' court. Typical but not surprising from (some of) the group here. And pay no attention to the trillion-dollar budget-busting so-called healthcare "reform" passed last year by the guy you believe wants to save the economy, which has done nothing to reign in prices and will finish off cash-strapped states already flirting with bankruptcy thanks to the massive number of new Medicaid enrollees. Are you even aware that HCR as it is written requires cuts be made to Medicare? Where's the outrage?

And Stephen, at which percentage of total taxes paid (currently at >50%) will you be satisfied that the rich have been milked enough? Generally, they have the resources to evade sinking ships...the rest of us, not so much.



Nevermind, we're doomed already. Class warfare and eat the rich mantras will lead this country to an even darker place than it already is. I don't disagree with tax loophole and subsidy elimination, for the record.

Even on the surface, with a giant like GE who seemingly got away without paying taxes during the last period, peer deeper into their financials and one can see their consumer finance division took a massive beating. All the more reason tax code simplification should also be a major aim, even if that's a flat tax, elimination of exemptions, etc.

I also love how you're slamming Repubs and their rich buddies yet ignoring an important part of the article quoted above:

Backed by Wall Street but facing deadlock in Washington

Come on, dude, "backed by Wall Street" (the very consortium of fools who were in part responsible for the crash of 200. To think either party is free from the sphere of influence of big business is giving in to propaganda.

Finally, I didn't even mention how 0bama, knowing the fragility of the economy, unilaterally decided we should be involved in "kinetic nonhostile military action" in Libya, a country who didn't even so much as verbally threaten the US. A spineless Republican't party merely gave a verbal rebuke, while we continue to throw borrowed IOUs down a snake pit.

The blame Republican routine from you lefties is getting tiresome...it's a shared disaster now, and only the authentic Tea Party types (and Ron Paul) seem to understand what must be done to salvage the wreckage, and that's not to become even greater slaves to debt. This is what 0bama's plans amount to, so in a sense, Mitch is correct about defeating our dictator-lite.

And really, picking "on the blacks and Mexicans." Which party keeps the former subservient by encouraging them to stay in the welfare state, and which party claims the loudest race baiters (Sheilah Jackson, Jesse Jackson, Al Sharpton to name but three)? On the second ethnicity you referenced, you are forgetting that a large majority of AMERICANS (both Dems and Repubs) are fed up with the illegal immigration problem in this country and are opposed to defacto amnesty.

I don't know why I bother.

[stephen028]

Re: US '13 days from financial disaster'

Thanks, Vinnie. I really do appreciate a well thought out opposing view. There is plenty in your above comment I agree with.

[Illuminate]

Re: US '13 days from financial disaster'

Well said Vinnie.
But are you willing for a term of Republicans come next ballots?
I read somewhere that within the next 50 or so years 1 in every 4 Americans will be of a Hispanic background.
That's pretty astonishing.

[runningman]

Re: US '13 days from financial disaster'

Obama is so stupid using his ''default'' scare tactic to try to get the debt ceiling raised. He needs to cut spending not raise the debt limit.

Geesh the leadership in the US is so stupid it hurts me. "Let's get out of debt by going deeper in debt'' Obama

Ya

[stephen028]

Re: US '13 days from financial disaster'

For the record, these debt ceiling talks are political theatre. There is no question that the ceiling will be raised.

[vinnie97]

Re: US '13 days from financial disaster'

Sorry, Stephen, if I came on a little strong. I was fuming a bit after the piling on (what got me started being Florida and his "trolling" remark, I guess that means 0bama was trolling when he said he couldn't guarantee Social Security benefits next month). We are nearly to the point where interest on current debt exceeds GDP, if we're not there already. It's political theater, alright, but it's at the expense of a dire situation.

[res0nat0r]

Re: US '13 days from financial disaster'

http://www.wtfnoway.com/

[stephen028]

Re: US '13 days from financial disaster'

Sorry, Stephen, if I came on a little strong. I was fuming a bit after the piling on (what got me started being Florida and his "trolling" remark, I guess that means 0bama was trolling when he said he couldn't guarantee Social Security benefits next month). We are nearly to the point where interest on current debt exceeds GDP, if we're not there already. It's political theater, alright, but it's at the expense of a dire situation.

ur good vinnie. compared to some, you're a beacon of objectivity. wasn't aware of our intersest exceeding our gross domestic product either. interesting. so essentially we as a nation are not even able to make enough to pay off our interest which i have to assume will accumulate? let me be the first the say that i welcome our new chinese overlords with welcome arms.

[vinnie97]

Re: US '13 days from financial disaster'

That's why I like the legitimate Tea party movement, not the co-opted one, which I fear Bachman (since this is one candidate to which you recently alluded and is pretty much off my radar since voting to extend the Patriot Act) is a part of (like 0bama, she has arisen from relative obscurity to a position of considerable name recognition with the next election still over a year away). Those who are all for all-around cutting in unnecessary spending and gutting all manners of waste, not just a single facet of expenditure (i.e. entitlements, which is no doubt important and is fiscally the most out of control followed by Defense spending). Ron Paul seems to embody this understanding at least...he's generally one of a kind, though.

Egan-Jones, a less known credit rating agency, dropped our rating yesterday and this is the first time this has happened to the US:

http://spectator.org/blog/2011/07/23/us-credit-rating-now-cut-as-bo

Lost in the headlines generated by Obama press conferences, Reuters reported that the credit rating agency Egan-Jones has in fact become the first rating agency to downgrade the U.S. rating. Egan-Jones, says Reuters:

..has cut the United States' top credit ranking, citing concerns over the country's high debt load and the difficulty the government faces in significantly reducing spending.

And what else is being reported about Egan-Jones' reasoning for doing this?

The agency said the action, which cut U.S. sovereign debt to the second-highest rating, was not based on fears over the country not raising its debt ceiling.
Instead, the cut is due the U.S. debt load standing at more than 100 percent of its gross domestic product. This compares with Canada, for example, which has a debt-to-GDP ratio of 35 percent, Egan-Jones said in a report sent on Saturday.

Unprecedented waters...enough agencies follow suit and interest rates + inflation could seriously pick up. Get ready for the bread lines.

[Shpira]

Re: US '13 days from financial disaster'

This whole thing is bullshit...will never happen. The sad thing is that the so called leaders in Washington are not really in tune with global markets and don't understand that all this incisiveness on their part is already causing long term damage to the dollar and US bonds...they are playing politics with vital economic issues trying to get re-elected. Sad really.

[Shpira]

Re: US '13 days from financial disaster'

NA-BM610_DEBTch_G_20110728184205.jpg

[tiddles]

Re: US '13 days from financial disaster'

I've decided that I didn't do a very good job with my budget this year, and therefore will not be paying any taxes until I can get my girl to agree on some cuts to her shoe shopping.

I got a kick out of this:

http://www.bbc.co.uk/news/technology-14340470

[vinnie97]

Re: US '13 days from financial disaster'

Another Home Depot Co-Founder Blasts Obama: ‘Unpresidential’ & ‘Willfully Dividing US': (confirming your thoughts, Clint...anyone who denies it just has too much white guilt to see it or they're hopelessly following this fraud off the cliff)

http://conservativebyte.com/2011/07/another-home-depot-co-founder-blasts-obama-unpresidential-willfully-dividing-us/ (includes CNBC interview video)

Must be another damn raycist.