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(CNN)   Fiscal Cliff downgraded to Fiscal Slope   (politicalticker.blogs.cnn.com) divider line 313
    More: News, Rep. Paul Ryan, Majority Leader Eric Cantor, a.m. ET, White House announced, House Budget Committee, Vice President Joe Biden, ET Tuesday, federal deficits  
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4519 clicks; posted to Politics » on 01 Jan 2013 at 11:54 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-02 01:54:09 AM  

Gyrfalcon: Kome: Oh god, freeperville is a glorious nest of b*tch-fits and delicious, delicious conservative tears.

I need to get to bed, but reading their comments that are so full of prepubescent angst and rage just makes me feel all warm and fuzzy.

This may be the final straw that breaks the back of the GOP. Either that, or we get a literal Night of the Long Knives.


It takes two to make a thing go right

Link
 
2013-01-02 01:59:16 AM  

Alphax: Phoenix_M: I can't believe they extended unemployment another 99 weeks. That's awesome news for the ne'er-do-wells.

That would be a GOOD thing. No need to make them move their families to under the nearest bridges. It's also stimulative, as they pay rent and buy food.


As an unemployed (i.e. only working part time and still eligible for UI payments) veteran, I wholly oppose extension of UI benefits. It's like buying $100k of life insurance, and then after collecting the policy asking for $200k instead. Just like the Wall Street and Detroit bailouts, we as a nation are rewarding bad behavior. Plus, if I didn't have the UI payments coming in every week (and I needed money to live) I could find a job really quickly. Furthermore, it's not stimulative, its redistributive or inflationary.

However, since they were extended, I'm going keep riding this gravy train as long as it stays on the rails.

/anyone looking to hire an engineer?
//why no news about the "dairy cliff" yet?
 
2013-01-02 01:59:28 AM  

eraser8: Brontes: Can one assume that budget cuts will come during the debt ceiling discussion?

Honestly, budget cuts should wait until the economy is growing again.

Cutting the budget right now is a BAD idea.


This. Though the cuts need to happen.
 
2013-01-02 02:05:00 AM  

Yoyo: As an unemployed (i.e. only working part time and still eligible for UI payments) veteran, I wholly oppose extension of UI benefits. It's like buying $100k of life insurance, and then after collecting the policy asking for $200k instead. Just like the Wall Street and Detroit bailouts, we as a nation are rewarding bad behavior. Plus, if I didn't have the UI payments coming in every week (and I needed money to live) I could find a job really quickly. Furthermore, it's not stimulative, its redistributive or inflationary.


What 'bad behavior' is it rewarding?
 
2013-01-02 02:05:21 AM  

Serious Black: Yeah, I don't see them actually proposing cuts to Medicare or Social Security with the debt ceiling either. They know those programs are ridiculously popular, and they know that cutting those programs would hand senior citizens back to the Democrats and result in an almost unstoppable electoral coalition.


The Republicans have to spin this as a win and in doing so acknowledge the Democrats just cut taxes for 98% of Americans, effectively surrounding their tax cut card. They already lost the "We have to stick to stop 0bama" card which was hands down the most effective in the deck for keeping the party together.

They've got nothing to offer anyone outside of an elite doner base so they're just gonna fight amongst themselves and try to get the Democrats to propose their own ideas which they're too cowardly to even stand behind.

I'm really enjoying watching these cowards flail.
 
2013-01-02 02:05:40 AM  

NewportBarGuy: shower_in_my_socks: He made this into a power-play for him to take Boehner's job.

For $29k more per year? Wow. He must love money. I think I would pay that much not to have that job for the next year.


Agreed. You get paid more, but you better be damned qualified to be the speaker.
 
2013-01-02 02:08:02 AM  

Yoyo: //why no news about the "dairy cliff" yet?


I think they already took care of that.
 
2013-01-02 02:10:34 AM  

Yoyo: /anyone looking to hire an engineer?
//why no news about the "dairy cliff" yet?


What kind of engineer? Degree/diploma qualified professional or tradesman? Aerospace is about to go nuts with the boomer generation retiring, so if you're ex-Airforce of Army/Naval Aviation a half decent job should be no problem.

/"dairy cliff"?
 
2013-01-02 02:10:44 AM  

Yoyo: Serious Black: [upload.wikimedia.org image 850x991]

[whatutalkingboutwillis.info image 360x270]

Notice how the gross debt remains mostly level while the debt to GDP diminishes approximately linearly with time? This is because the GDP was growing constantly at the time. This was the time that the US government should have paid off the debt entirely! Notice how these graphs don't go back any earlier than 1940? I wonder what the chronic debt was then...?


upload.wikimedia.org

Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.
 
2013-01-02 02:17:35 AM  

Alphax: Yoyo: As an unemployed (i.e. only working part time and still eligible for UI payments) veteran, I wholly oppose extension of UI benefits. It's like buying $100k of life insurance, and then after collecting the policy asking for $200k instead. Just like the Wall Street and Detroit bailouts, we as a nation are rewarding bad behavior. Plus, if I didn't have the UI payments coming in every week (and I needed money to live) I could find a job really quickly. Furthermore, it's not stimulative, its redistributive or inflationary.

What 'bad behavior' is it rewarding?


Socializing risk while leaving reward private. Why should banks be concerned about the creditworthiness of their loans when the government will just bail them out? Why should auto companies worry about the profitability of their production lines when the government will just bail them out? Why should individuals worry about finding a job or learning new skills when they can keep getting paid for up to almost 2 years, i.e. 4 times longer than normal in the past? CSB: Last time I was on unemployment, I spent a lot of weeks looking for a technical job in my specialty without success, and towards the end I found job in a less technical and lower paying area. That motivated me to go to college, which led to me finding a job in my technical area. And like I said earlier, if I needed money, I could find a job quite quickly or simply do without the income, but why should I bother? It's the prisoner's dilemma.
 
2013-01-02 02:18:12 AM  

CorporatePerson: Serious Black: Yeah, I don't see them actually proposing cuts to Medicare or Social Security with the debt ceiling either. They know those programs are ridiculously popular, and they know that cutting those programs would hand senior citizens back to the Democrats and result in an almost unstoppable electoral coalition.

The Republicans have to spin this as a win and in doing so acknowledge the Democrats just cut taxes for 98% of Americans, effectively surrounding their tax cut card. They already lost the "We have to stick to stop 0bama" card which was hands down the most effective in the deck for keeping the party together.

They've got nothing to offer anyone outside of an elite doner base so they're just gonna fight amongst themselves and try to get the Democrats to propose their own ideas which they're too cowardly to even stand behind.

I'm really enjoying watching these cowards flail.


Oh, me too. And it's pretty awesome that Obama just got over 100 Republicans in Congress to approve of the biggest revenue increase in the last 40 years:

dailydish.typepad.com

Grover must be shiatting bricks.
 
2013-01-02 02:22:25 AM  

Yoyo: Alphax: Yoyo: As an unemployed (i.e. only working part time and still eligible for UI payments) veteran, I wholly oppose extension of UI benefits. It's like buying $100k of life insurance, and then after collecting the policy asking for $200k instead. Just like the Wall Street and Detroit bailouts, we as a nation are rewarding bad behavior. Plus, if I didn't have the UI payments coming in every week (and I needed money to live) I could find a job really quickly. Furthermore, it's not stimulative, its redistributive or inflationary.

What 'bad behavior' is it rewarding?

Socializing risk while leaving reward private. Why should banks be concerned about the creditworthiness of their loans when the government will just bail them out? Why should auto companies worry about the profitability of their production lines when the government will just bail them out? Why should individuals worry about finding a job or learning new skills when they can keep getting paid for up to almost 2 years, i.e. 4 times longer than normal in the past? CSB: Last time I was on unemployment, I spent a lot of weeks looking for a technical job in my specialty without success, and towards the end I found job in a less technical and lower paying area. That motivated me to go to college, which led to me finding a job in my technical area. And like I said earlier, if I needed money, I could find a job quite quickly or simply do without the income, but why should I bother? It's the prisoner's dilemma.


Like I said, what 'bad behavior' is unemployment benefits rewarding?

Getting paid to do nothing? It's not that much. This theory that it's enough to keep people from looking for work is bullshiat.
 
2013-01-02 02:24:38 AM  

Yoyo: Can we have a Reichstag Fire and Kristallnacht too?


Didn't you hear? Sandy Hook was Obama's Reichstag Fire
 
2013-01-02 02:31:32 AM  

Dave The Slushy: Yoyo: /anyone looking to hire an engineer?
//why no news about the "dairy cliff" yet?

What kind of engineer? Degree/diploma qualified professional or tradesman? Aerospace is about to go nuts with the boomer generation retiring, so if you're ex-Airforce of Army/Naval Aviation a half decent job should be no problem.

/"dairy cliff"?


Mechanical engineer by education and construction engineer by experience. As far as aerospace, Boeing is a mess and I don't speak French. I've applied with Virgin, but they want more experience in their industry than their industry is old, which leads me to believe that they're not actually hiring but advertising for employees merely as part of the smoke and mirrors to keep people plunking down hard cash for reservations on space flights that may never take off. I'll take your questions as a "no" then.

Maybe they're only calling the "dairy cliff" in corn country. I've been visiting my Mom in Kansas for Christmas and she likes to watch the local TV news.
 
2013-01-02 02:33:37 AM  
Really?

The one thing that every single news organization has been talking about for the last two months, the thing that will determine our economic future and determine whether or not we fall back into a recession, the thing that affects every single one of us no matter what our income level is, doesn't merit a front page link? It deserves to be hidden in the Politics tab with the rest of the petty backbiting that everybody else is sick of?

That's a damn shame. Way to go, modmins. If this isn't front page news I'm afraid to find out what is. I guess a few more Florida stories and some celebrity nonsense will fit the bill, eh? Maybe a few more shots at guns and the Pope? Welcome to the new year, same as the old year.
 
2013-01-02 02:41:57 AM  
So... in other words, in two months they'll have to argue about putting off spending cuts two more months?
 
2013-01-02 02:42:14 AM  

Serious Black: Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.


Of course. People such as financial terrorists Jamie Dimon and Lloyd Blankfein who get to continue to bilk the American taxpayers for untold of billions of dollars in unnecessary interest payments on the national debt:

4.bp.blogspot.com
 
2013-01-02 02:43:31 AM  

Adolf Oliver Nipples: It deserves to be hidden in the Politics tab with the rest of the petty backbiting that everybody else is sick of?


We love you too, Adolf!
 
2013-01-02 02:43:32 AM  

Alphax: Like I said, what 'bad behavior' is unemployment benefits rewarding?

Getting paid to do nothing? It's not that much. This theory that it's enough to keep people from looking for work is bullshiat.


I'm getting 20% more than full time minimum wage in my state. It's certainly enough for me to pay my bills, but then I knew I would be out of work for a while after my last job, so I budgeted accordingly when I was working to put money in savings and pay off my debts. And I didn't claim that it kept people from looking for work. I stated that it keeps people actually getting work. Furthermore, it adds inertia to the employment pool and extends the structural component of American unemployment as out of work people take more time before training for a new job outside their current expertise. Look at the duration of unemployment before and after the benefit extension and get back to me on your conclusion.

/I know. I know. Don't feed the trolls.
 
2013-01-02 02:44:31 AM  

Corvus: And the freepTards are all saying the will change their party affiliation to independent and vote third party now.

Amusing


I hope they do, as that is the only way the Republicans will be able to free themselves of the Teahadist Cancers.
 
2013-01-02 02:45:21 AM  
Why is it always that those who criticize unemployment insurance the most are those who use it the most? It's the same with the ancient, addled tea-baggers railing-on about wanting cuts to Social Security and Medicare while depending on those services for their own survival.

I suspect it has to do with massive self-loathing on some level.
 
2013-01-02 02:45:26 AM  

Yoyo: /I know. I know. Don't feed the trolls.


Fine, I won't feed you anymore.
 
2013-01-02 02:48:39 AM  
H

Yoyo:

Mechanical engineer by education and construction engineer by experience. As far as aerospace, Boeing is a mess and I don't speak French. I've applied with Virgin, but they want more experience in their industry than their industry is old, which leads me to believe that they're not actually hiring but advertising for employees merely as part of the smoke and mirrors to keep people plunking down hard cash for reservations on space flights that may never take off. I'll take your questions as a "no" then.

Maybe they're only calling the "dairy cliff" in corn country. I've been visiting my Mom in Kansas for Christmas and she likes to watch the local TV news.


Hear you on the experience side of things, unfortunately for the industry there aren't enough people with experience because a lot of the smart people 30-40 went into IT instead of aviation. I got my foot in the door with a low paying job with a lot of responsibility with a small maufacturer, jumped over to the regulator (CAANZ in this part of the world), now over to Air New Zealand's design arm - Altitude. The little bit of experience was worth it, the pay pack has doubled to NZ$100k in 5 years. And it's about to get more insane. Sucks for them, awesome for me.

Airbus also has offices in the UK, and Toulouse is actually worth learning French for.

/Hamburg is a hole though.
 
2013-01-02 02:50:06 AM  

Serious Black: [upload.wikimedia.org image 850x299]

Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.


The US dollar's position as the world's reserve currency allows the US to export inflation via trade deficits, and repatriation of dollars into US government bonds finances our federal budget deficit. All of these are interrelated.

http://en.wikipedia.org/wiki/Twin_deficits_hypothesis

"The twin deficits hypothesis, also called the double deficit hypothesis or twin deficits anomaly, is a concept from macroeconomics that contends that there is a strong link between a national economy's current account balance and its government budget balance.

[If] the US budget deficit goes up then either household savings must go up, the trade deficit must go up, or private investment will decrease."
 
2013-01-02 02:57:58 AM  

StopLurkListen: "The twin deficits hypothesis, also called the double deficit hypothesis or twin deficits anomaly, is a concept from macroeconomics that contends that there is a strong link between a national economy's current account balance and its government budget balance.

[If] the US budget deficit goes up then either household savings must go up, the trade deficit must go up, or private investment will decrease."


That is...confusing. Is that "must" as in it will go up, or "must" as in we hope one of these goes up?
 
2013-01-02 02:59:34 AM  

Goodfella: Serious Black: Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.

Of course. People such as financial terrorists Jamie Dimon and Lloyd Blankfein who get to continue to bilk the American taxpayers for untold of billions of dollars in unnecessary interest payments on the national debt:

[4.bp.blogspot.com image 522x392]


Sure, I'm a sycophant for Wall Street for suggesting some level of borrowing money is actually a good thing.
 
2013-01-02 02:59:34 AM  
Okay, so Obama's an idiot. Actually that's not entirely accurate: he's governing like we still have a rational, functional government, and we don't.

This kind of compromise and the concessions he made should never have been made for a two-month extension. What will happen now is that the Republicans will claim that they've proven they're willing to compromise with the extension, and then in March will refuse to back down from cuts to Social Security and Medicare. The polls will wander back towards the GOP side because if the American people were God-farking stupid enough to elect them in the first place, they'll swallow bullshiat of that caliber.

And Obama will cave. Again.

And sometime in June, in between breathless reports on the Kardashian pregnancy and stories on how your 79 year-old grandfather better start thinking about being all bootstrappy and looking for a part-time job, you'll also hear a very brief soundbite about how consumer spending is down for the 1500th consecutive month. Gosh, we've been betrayed by Wall Street, who got away scot free after 2008, and abandoned and ignored by our government. I wonder why nobody wants to spend any money?
 
2013-01-02 03:01:28 AM  

Serious Black: Goodfella: Serious Black: Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.

Of course. People such as financial terrorists Jamie Dimon and Lloyd Blankfein who get to continue to bilk the American taxpayers for untold of billions of dollars in unnecessary interest payments on the national debt:

[4.bp.blogspot.com image 522x392]

Sure, I'm a sycophant for Wall Street for suggesting some level of borrowing money is actually a good thing.


For reference, here's the Clinton-era memo that discussed the ramifications of paying off the federal debt entirely.
 
2013-01-02 03:01:31 AM  

Yoyo: Dave The Slushy: Yoyo: /anyone looking to hire an engineer?
//why no news about the "dairy cliff" yet?

Maybe they're only calling the "dairy cliff" in corn country. I've been visiting my Mom in Kansas for Christmas and she likes to watch the local TV news.


Also calling it "Dairy Cliff" in New York State but we're what, 3rd in dairy?

And yes, 'twas averted: Link
 
2013-01-02 03:02:15 AM  

Bennie Crabtree: StopLurkListen: "The twin deficits hypothesis, also called the double deficit hypothesis or twin deficits anomaly, is a concept from macroeconomics that contends that there is a strong link between a national economy's current account balance and its government budget balance.

[If] the US budget deficit goes up then either household savings must go up, the trade deficit must go up, or private investment will decrease."

That is...confusing. Is that "must" as in it will go up, or "must" as in we hope one of these goes up?


It's economist-speak for "an extremely strong influence".

/if all the world's economists were placed end to end, you still wouldn't reach a conclusion
 
2013-01-02 03:09:31 AM  

Yoyo: Mentat: Yoyo: The economy is farking growing!!!! Argh!!!!! With attitudes like yours we'll never get the budget cut, never mind the debt.

Growing, but not strongly.  Keynesian theory says cuts should come when the economy is strong and deficits should be run when the economy is weak.  If we had followed that mantra after the 90's, we wouldn't even have a national debt now.

How strong is strong enough for you? The point at which the economy is strongest is the point right before it goes into recession, and then you'll claim that we can't cut spending during a recession. The problem with Keynes is that he doesn't take human nature into account. Sure, deficit spending during economic blight will lessen the effects, but the problem is that no one ever wants to pay it back during times of excess, e.g. the USA since 1948.

Post WWII was perhaps the greatest economic boom the US has ever seen, yet the federal government willfully decided to stop paying off the war debt, and that was when it would have been easy. If not now then when? If not we then whom? Certainly not congress. They've raised the ironically named "debt ceiling" every time they've been asked, although on the last occasion it was with much kicking and screaming like spoiled children Is 60 years not a long enough experiment to demonstrate that the US government is unable, either not smart enough or not powerful enough, to control the national (and by proxy the global) economy?


When is really the critical question. I would say once unemployment is down to about 6%, then you start in on the cutting/tax increases for the broader base.
 
2013-01-02 03:13:44 AM  

LabGrrl: Yoyo: Dave The Slushy: Yoyo: /anyone looking to hire an engineer?
//why no news about the "dairy cliff" yet?

Maybe they're only calling the "dairy cliff" in corn country. I've been visiting my Mom in Kansas for Christmas and she likes to watch the local TV news.

Also calling it "Dairy Cliff" in New York State but we're what, 3rd in dairy?

And yes, 'twas averted: Link


DOUBLED to $7/gal? It's our primary export and that's what we pay!

God no wonder you lot are in debt, we stopped subsidising farmers yonks ago.
 
2013-01-02 03:15:58 AM  

eraser8: BlueDWarrior: I'm of the mind that until we stop electing insane nihilists to our government, we will be farked. So... um, anyone have any good recipes for pigeon?

Honestly, I don't understand why pigeons wouldn't be delicious.

I mean, you wouldn't want to eat them raw off the streets of New York City...but, come on: purge them for awhile and roast them while frequently basting them?  They should be pretty boss.



In culinary terminology, squab is a young domestic pigeon or its meat. Usually considered a delicacy, squab is tender, moist and richer in taste than many commonly-consumed poultry meats, but there is relatively little meat per bird, the meat being concentrated in the breast. Squab is dark meat, and the skin is fatty, like that of duck. The meat is very lean, easily digestible, and "rich in proteins, minerals, and vitamins". It has been described as having a "silky" texture, as it is very tender and fine-grained. It has a milder taste than other game, and has been described as having a mild berry flavor. Squab's flavor lends itself to complex red or white wines.

Butterflied Squab with Piquillo Pepper Sauce

Ingredients

3 tablespoons canola oil
1 squab, butterflied (backbone, ribs and keel bone removed)
Salt and freshly ground black pepper
1 tablespoon unsalted butter
2 tablespoons olive oil
1 medium carrot, coarsely chopped
1 small stalk celery, coarsely chopped
1/4 large onion, coarsely chopped
2 cloves garlic, chopped
1/4 cup port
1/4 cup red wine
1/2 to 3/4 cup chicken stock
2 tablespoons creme fraiche
1 cup fresh parsley leaves, chopped
2 sprigs fresh thyme, leaves only
1 piquillo pepper, diced

Directions

Heat the canola oil in a large saute pan over medium-high heat. Sprinkle the squab with salt and black pepper and place in the pan, breast-side down. Add the butter and cook the squab until the skin is golden brown. Flip the squab, and continue to cook until medium rare. Transfer to a plate and let rest.

Drain off any excess oil from the pan, and then heat the olive oil over medium-high heat. Cook the carrots, celery and onions until lightly browned. Stir in the garlic and cook 1 minute. Increase the heat to high, and then pour in the port and red wine and cook until reduced by three-quarters, scraping up any brown bits on the bottom of the pan. Add the stock and cook until reduced by half, then stir in the creme fraiche. Strain the sauce into a bowl, and then heat gently in a small saucepan over medium heat. Once bubbling, remove from the heat and add the parsley, thyme and piquillo peppers. Taste and season with salt and freshly ground pepper.
 
2013-01-02 03:26:01 AM  

Serious Black: Serious Black: Goodfella: Serious Black: Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.

Of course. People such as financial terrorists Jamie Dimon and Lloyd Blankfein who get to continue to bilk the American taxpayers for untold of billions of dollars in unnecessary interest payments on the national debt:

[4.bp.blogspot.com image 522x392]

Sure, I'm a sycophant for Wall Street for suggesting some level of borrowing money is actually a good thing.

For reference, here's the Clinton-era memo that discussed the ramifications of paying off the federal debt entirely.



That's a real hoot.

NATIONAL DEBT = GOOD!

NO NATIONAL DEBT = BAD!


You actually believe that?

Ok then. Lets run the national debt up to $40-50 trillion and spend 95% of the annual federal budget on interest payments. Wall Street has to eat, you know.

We might as well take all the tax dollars Americans pay each year, stack it all up, douse it with gasoline, and set it on fire. Every dollar spent on interest payments has been completely wasted. And you want to increase that waste.
 
2013-01-02 03:37:36 AM  
Congratulations on sprinkling a handful of grit on the tracks bearing the relativistic-speeding handcart to hell called "entitlement". Spend that retirement money on Mandarin lessons.
 
2013-01-02 03:48:40 AM  

Goodfella: Serious Black: Serious Black: Goodfella: Serious Black: Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.

Of course. People such as financial terrorists Jamie Dimon and Lloyd Blankfein who get to continue to bilk the American taxpayers for untold of billions of dollars in unnecessary interest payments on the national debt:

[4.bp.blogspot.com image 522x392]

Sure, I'm a sycophant for Wall Street for suggesting some level of borrowing money is actually a good thing.

For reference, here's the Clinton-era memo that discussed the ramifications of paying off the federal debt entirely.


That's a real hoot.

NATIONAL DEBT = GOOD!

NO NATIONAL DEBT = BAD!


You actually believe that?

Ok then. Lets run the national debt up to $40-50 trillion and spend 95% of the annual federal budget on interest payments. Wall Street has to eat, you know.

We might as well take all the tax dollars Americans pay each year, stack it all up, douse it with gasoline, and set it on fire. Every dollar spent on interest payments has been completely wasted. And you want to increase that waste.



IT'S CALLED "BALANCE" YOU CRAZY CRACKA. THAT's the math you can't handle, that's it's actually something you can model, not just a damn motto.
 
2013-01-02 03:49:47 AM  

Yoyo: Notice how the gross debt remains mostly level while the debt to GDP diminishes approximately linearly with time?


Debt-to-GDP ratio is the only important number there. Concern about the dollar value of the debt in and of itself is basically just a result of people discussing macroeconomic issues while still stuck in a household finance mentality.
 
2013-01-02 03:50:22 AM  

heap: Adolf Oliver Nipples: It deserves to be hidden in the Politics tab with the rest of the petty backbiting that everybody else is sick of?

We love you too, Adolf!


You know who ELSE loved Adolf?

/that's right: Eva Braun
 
2013-01-02 03:57:44 AM  

Goodfella: Serious Black: Serious Black: Goodfella: Serious Black: Also, there are some people who think that paying off the federal debt entirely is a bad thing because it would remove an almost certain path to future propsperity.

Of course. People such as financial terrorists Jamie Dimon and Lloyd Blankfein who get to continue to bilk the American taxpayers for untold of billions of dollars in unnecessary interest payments on the national debt:

[4.bp.blogspot.com image 522x392]

Sure, I'm a sycophant for Wall Street for suggesting some level of borrowing money is actually a good thing.

For reference, here's the Clinton-era memo that discussed the ramifications of paying off the federal debt entirely.


That's a real hoot.

NATIONAL DEBT = GOOD!

NO NATIONAL DEBT = BAD!


You actually believe that?

Ok then. Lets run the national debt up to $40-50 trillion and spend 95% of the annual federal budget on interest payments. Wall Street has to eat, you know.

We might as well take all the tax dollars Americans pay each year, stack it all up, douse it with gasoline, and set it on fire. Every dollar spent on interest payments has been completely wasted. And you want to increase that waste.


Or, you know, it could be a parabola where having no national debt is bad, having a metric farkton of national debt is bad, and having a modest amount of national debt is good. But you go ahead with your ridiculously simplistic thinking about the world.
 
2013-01-02 04:08:49 AM  
Funny thing is, now, some GOP congresscritters will have to explain to their base why they voted against preventing a middle class tax hike.
 
2013-01-02 04:24:06 AM  
Checks in at RedState...

Hey. If any of you are looking for any last-minute new year gift ideas for me, I have one. I'd like Erik Ericson, lying douche, right here tonight. I want him brought from his happy holiday slumber over there on Teabagger Lane with all the other stupid people and I want him brought right here...with a big ribbon on his head! And I want to look him straight in the eye, and I want to tell him what a cheap, lying, no-good, rotten, four-flushing, low-life, snake-licking, dirt-eating, inbred, overstuffed, ignorant, blood-sucking, dog-kissing, brainless, dickless, hopeless, heartless, fat-assed, bug-eyed, stiff-legged, spotty-lipped, worm-headed sack of monkey shiat he is!

/Hallelujah, holy shiat, where's the tylenol
//RedState used to be worth reading
 
2013-01-02 04:24:25 AM  

AdolfOliverPanties: [i2.cdn.turner.com image 640x360]

Is that little biatch about to cry again?


It's not nice to call the person, that just suckled all the gravy from your Savior's balls. a biatch.

/Stupid Repubtards.
//AND still no significant spending cuts.
 
2013-01-02 04:26:34 AM  

Debeo Summa Credo: cretinbob: Two more months of rope and adding almost $4 trillion to the debt isn't much of a victory, is it Republitards?

Which "republitards" are claiming victory?


They all have to claim it. It left the chamber they control without being defeated. Pitiful.
 
2013-01-02 04:30:44 AM  

doglover: Huck And Molly Ziegler: I'm not wild about the idea of the president flying all the way back to Hawaii to gain a few extra days of missed vacation.
Seems like a lot of Air Force One money to spend just to make a point.

Shut you word hold farkface.

That is unless you can come up with the buckets of posts from the day of yore when you were criticizing Bush for all the flights he took to Texas.


imagemacros.files.wordpress.com

Now, you know, black-knighting your savior isn't going to make him want to split your starfish. Stop it.
 
2013-01-02 04:32:08 AM  

Nullav: TFA "Washington missed this magic moment to do something big to reduce the deficit, reform our tax code, and fix our entitlement programs," the said. "We have all known for over a year that this fiscal cliff was coming. In fact Washington politicians set it up to force themselves to seriously deal with our Nation's long term fiscal problems. Yet even after taking the country to the brink of economic disaster, Washington still could not forge a common sense bipartisan consensus on a plan that stabilizes the debt."

This is what no one will remember, and half have already probably forgotten. May the next 1-10 terms for these assholes be less derpy and rife with corruption than the last.


Eh, they'll see the butthurt from the TP and the legitimate concerns from the left and say "both sides are mad, so this must be the best deal!"

...And then we'll wonder why the deficit keeps going up.
 
2013-01-02 04:44:04 AM  
That's racist, subby. You're a racist.
 
2013-01-02 04:57:51 AM  

cretinbob: At least crazy ass liberals just want to smoke pot and hug trees.


Actually, I straight-up humped the oak tree in my backyard after doing a J. But yes, you're correct.
 
2013-01-02 05:40:39 AM  

muck4doo: It takes two to make a thing go right


My name is Rob, I got a real funky concept....

coverhound.com

Love that song, BTW!
 
2013-01-02 06:03:22 AM  

Mentat: As for WWII, we actually went into a recession immediately after the war because of the drop in war spending coupled with the transition from war to domestic production coupled to Truman's massive demobilization efforts.  Truman was very fiscally conservative and did his best to work off the debt, so I'm not sure what your point is.


Well it was always going to take a year or so after the war to transition back to a normal economy. The progressive fears of the reduction in wartime spending were completely unfounded and the worries that the returning servicemen wouldn't have jobs equally so. Turns out, the whole world needed stuff, we had able bodied men who needed work and factories that could be re-tooled to make anything. What resulted was a standard of living change in the majority of Americans lives which was perhaps only eclipsed by the last 10-15 years or so.....

No, it wasn't due to a 91% tax rate that few people even paid in the first place. Tiger & Rock, simpsons, etc...

Alphax: That would be a GOOD thing. No need to make them move their families to under the nearest bridges. It's also stimulative, as they pay rent and buy food


No it isn't. In order to give an unemployment check to someone, you have to take the equivalent money out of the economy somewhere else. It is only personally stimulative to the guy getting the check. In the aggregate, it is a wash.
 
2013-01-02 06:35:26 AM  

o5iiawah:
No it isn't. In order to give an unemployment check to someone, you have to take the equivalent money out of the economy somewhere else. It is only personally stimulative to the guy getting the check. In the aggregate, it is a wash.


You are a damned fool without even a basic grasp of maths let alone economics. According to your theory there is no difference between all the money in a country sitting in a box and all of it being circulated .Be gone from this place.
 
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