The Grand Debt Ceiling Political Theater Thread

[Kilmer17]

I dont think there are any statesmen left in DC.

---------- Post added August-2nd-2011 at 08:08 PM ----------

When it's all said and done, I bet a lot of tea parties are going to regret not embracing the Bowles-Simpson plan

I think there will be alot of people on BOTH sides who regret not embracing it.

[Predicto]

Cmon. I dont think you believe that for a nanosecond. None of those guys give a flying **** about the the debt problem. On either side.

I don't agree. I think the grownups on both sides care about it, deeply. They are just scared of taking the political heat that is inevitably going to come down. Obama is also scared that cuts right now will slow the economy further, and ruin his chance for reelection. Boehner is scared that agreeing to modest tax reform will get him ousted as Speaker by Eric Cantor and the Grover Norquist pitchfork crew.

[luckydevil]

In this context, saying "with all due respect" usually means: "I don't respect you."

Anyhow, what they got was 2.7 trillion in cuts over ten years, with no corresponding revenue increases. Admittedly, some of those cuts will be "paper" from things like the winding down of the wars in Iraq and Afganistan, but not all of it. When the SuperCongress committees puts out its recommendations, there will be more cuts and maybe more revenue, but the goalposts have already been moved 2.7 trillion in favor of cuts, and that ground will not be given back. They also got a balanced budget amendment vote and other symbolic political fodder for the next election that will help their movement.[COLOR="Gold"]

Oh you mean bull****. It is just backloaded cuts ( in dc terms, in reality they means cuts that I can sell to my base but never actually going to see the light of the day).

[Kilmer17]

Read what you just wrote again. I agree with it. Obama is afraid taking a stand will ruin his chance for re-elect.

It's the same driving force that lead the tea party folks to come out so vehemently against any tax cuts.

All of them rank their priorities the same way for the first priority

1- Get re-elected.

Everything they do is dictated by that first priority

[Predicto]

Read what you just wrote again. I agree with it. Obama is afraid taking a stand will ruin his chance for re-elect.

It's the same driving force that lead the tea party folks to come out so vehemently against any tax cuts.

All of them rank their priorities the same way for the first priority

1- Get re-elected.

Everything they do is dictated by that first priority

Yep. That is why it was so tragic that everyone ran away from the Bowles-Simpson plan.

The real opportunity was using the base commission closure up-or-down vote method, but the GOP wouldn't allow that to happen because it would have included tax increases, and Grover Norquist couldn't allow that possibility, even if the spending cuts were 10 times as big as the new revenue.

[Kilmer17]

Yep. That is why it was so tragic that everyone ran away from the Bowles-Simpson plan.

The real opportunity was using the base commission closure up-or-down vote method, but the GOP wouldn't allow that to happen because it would have included tax increases, and Grover Norquist couldn't allow that possibility, even if the spending cuts were 10 times as big as the new revenue.

Obama spent MONTHS ignoring the same plan.

[Larry]

I'm not a big fan of the "have somebody else come up with how to reduce the deficit" plan.

I think it's a coward's way for Congress to avoid doing their job.

But, I think it might work. And right now, I'll settle for "work".

[luckydevil]

Obama spent MONTHS ignoring the same plan.

Yes, he did.

[DRSmith]

Perhaps. But your original statement was that the source of our prosperity wasn't savings but the use of credit. I would find that laughable if it wasn't such a tragic commentary on the faux-prosperity we've created for ourselves.

BTW, there is nothing wrong with credit. Borrowing money has helped fuel economies since the advent of currency. But that credit should be tied to savings. More savings means more credit. And that credit should be used carefully in ways that actually increase the economy's productivity, not just to buy a bunch of consumables like plasma screen TVs.

What I said was what got America where it is now was not savings it was credit,

It is also low interest credit that allowed so many jobs to be sent offshore and has allowed executive wages to sky rocket while the average persons has stayed the same.

If people paid cash and saved they would have noticed 20 years ago that there wages were getting worse.

The big backlash did not come unti credit started tightening up. As long as people can buy things they want they will ignore most everything elese.

[Stillers6SB]

What I said was what got America where it is now was not savings it was credit...

If people paid cash and saved they would have noticed 20 years ago that there wages were getting worse.

The big backlash did not come until credit started tightening up. As long as people can buy things they want they will ignore most everything else.

Very, very good argument, DRS.

Only thing I disagree with is the connection between outsourcing and executive pay with credit.

---------- Post added August-3rd-2011 at 12:29 PM ----------

These worthless bozos need to come through with something tonight.

Daddy loaded the heck out of stock futures late Friday afternoon. I need this mkt to fly tomorrow.

Market has really been flying this week! Down 400 points so far.

[Corcaigh]

Daddy loaded the heck out of stock futures late Friday afternoon. I need this mkt to fly tomorrow.

What position did you take and how did this investment turn out?

[Heisenberg]

God help anyone that listens to McD5 for financial advice.

[Jumbo]

Had to put this here, too--at least watch from 2:44 to 7:30

http://www.thedailyshow.com/full-epi...ustan-goolsbee

---------- Post added August-5th-2011 at 01:32 AM ----------

Actually, keep watching for a little bit after the 7:30 mark, it's hysterical--"****coveredmonkeys"

And the interview with Chief Economist for the President’s Economic Recovery Advisory Board Austan Goolsbee was downright entertaining