[AgentR11]

Drudge headlined the House passage with an image of a ring of monopoly money and a "No Default Now" tag line. OMG that's really got to burn your average Chinese bank exec who's probably been s... bricks for a couple weeks now. owwie!

Whats worse is reading the reader comments in some of the news articles. TP guys really did want default; nothing else would have satisfied them. They're out for blood. Wonder how many moderate R's will fall this year to TPs in primaries; and how many TPs that didn't pull the plug will get replaced by ones that will in 2013...

DOOM DOOM DOOM DOOM DOOM DOOM!

[AgentR11]

$this->bbcode_second_pass_quote('Cog', 'D')o you make this up or genuinely believe it? Because I'm ready to laugh if you are inventing this stuff.

[PrestonSturges]

A lot of the Clinton era conspiracy theories were dusted off for Obama, sometimes they even failed to change the Clinton era names. A lot of Glenn Beck's materials was 15 years old, Rand Paul's material goes back 20 years.

I think for a lot of these people propaganda is religion. The content doesn't really matter.

[mattduke]

$2.5 trillion. Next up, QE3 debt monitization.

[ian807]

Satire. It just gets tougher every year to tell the difference: The Onion

[mattduke]

$this->bbcode_second_pass_quote('', ' ')Federal revenues for 2012 likely will amount to about $2.2 trillion, an amount roughly equal to the 2004 federal budget. To balance the 2012 budget, Congress simply needs to adopt 2004 spending levels. Was the federal government really too small just 8 years ago?

[EnergyUnlimited]

Bill have been endorsed in House but it seems that these are Republicans who are more keen to endorse reckless spending than Democrats (Oh, I know that Democrats were against this bill because not enough spending was authorized but it is rather final outcome, not intentions what counts...)
So these were Republicans who have enabled continuation of reckless path of spending which leads US to an ultimate abyss...
http://www.bbc.co.uk/news/world-us-canada-14367754
$this->bbcode_second_pass_quote('BBC', 'H')ouse Democrats were evenly split on the legislation - 95 for and 95 against - while 174 Republicans voted for the measure and 66 opposed it.

[DomusAlbion]

The latest series of posts not related to this thread have been deleted.

Be careful to stay on topic.

[pup55]

$this->bbcode_second_pass_quote('', 'R')eagan actually tried to cut spending

[prajeshbhat]

While everyone is busy obsessing over the $14 trillion public debt, did anyone notice that US also owes $34 Trillion in private debt.
Everybody keeps repeating the same old story. The US government is broke. What about the rest of USA. Everyone is talking about cutting taxes. Does it really matter. If your entire nation combined together cannot raise enough tax revenues to pay back $14 trillion dollar public debt, how will you pay back the $34 trillion dollars individually. I am sure most of this debt is owed by people who are also tax payers(businesses and home owners).

[Cog]

$this->bbcode_second_pass_quote('mattduke', '$')2.5 trillion. Next up, QE3 debt monitization.

[AgentR11]

I gotz sum zeros and epoxy... maybe the fed is interested?

[PrestonSturges]

$this->bbcode_second_pass_quote('pup55', '')$this->bbcode_second_pass_quote('', 'R')eagan actually tried to cut spending

[Revi]

I used to work for the gubermint and during the Reagan years DC metastitized to at least double it's size. There was so much spending going on it grew almost to West Virginia. Ronnie was handing out the cash. I didn't benefit much, but I saw it happen.

[prajeshbhat]

You know, if a government is talking about cutting taxes, it can be concluded that this government is no longer interested in representing its own people. The polititians have found some other source of income and power (usually big businesses). It usually happens in petro-states. The government resource rich countries always have low taxes and they rule long, really long. The countries which depend on manufacturing and exports(like germany) have high taxes.

[PrestonSturges]

$this->bbcode_second_pass_quote('Revi', 'I') used to work for the gubermint and during the Reagan years DC metastitized to at least double it's size. There was so much spending going on it grew almost to West Virginia. Ronnie was handing out the cash. I didn't benefit much, but I saw it happen.

[americandream]

$this->bbcode_second_pass_quote('prajeshbhat', 'Y')ou know, if a government is talking about cutting taxes, it can be concluded that this government is no longer interested in representing its own people. The polititians have found some other source of income and power (usually big businesses). It usually happens in petro-states. The government resource rich countries always have low taxes and they rule long, really long. The countries which depend on manufacturing and exports(like germany) have high taxes.

[Sixstrings]

A closing thought on the debt ceiling debacle..

I learned some things. Sometimes the left is too hysterical. These cuts aren't even cuts, but rather minor reductions in the rate of growth. At worst, if Medicare cuts get passed by the Super Committee it will be on the provider side and won't hurt any seniors.

Not only are they not really cuts, but they most likely won't happen anyway -- both sides plan to pick people for the Super Committee who they know won't agree. They won't be picking the "Gang of Six" guys. This committee isn't intended to work out, it was all for show to give Repubs cover on raising the debt ceiling.

And lastly.. cutting is silly anyway, we're in a depression. The Fed is getting ready to launch QE3, how would it make sense to cut federal spending while our central bank is inflating the money supply.

[Keith_McClary]

$this->bbcode_second_pass_quote('prajeshbhat', 'I')f your entire nation combined together cannot raise enough tax revenues to pay back $14 trillion dollar public debt, how will you pay back the $34 trillion dollars individually.

[americandream]

$this->bbcode_second_pass_quote('Sixstrings', 'A') closing thought on the debt ceiling debacle..

I learned some things. Sometimes the left is too hysterical. These cuts aren't even cuts, but rather minor reductions in the rate of growth. At worst, if Medicare cuts get passed by the Super Committee it will be on the provider side and won't hurt any seniors.

Not only are they not really cuts, but they most likely won't happen anyway -- both sides plan to pick people for the Super Committee who they know won't agree. They won't be picking the "Gang of Six" guys. This committee isn't intended to work out, it was all for show to give Repubs cover on raising the debt ceiling.

And lastly.. cutting is silly anyway, we're in a depression. The Fed is getting ready to launch QE3, how would it make sense to cut federal spending while our central bank is inflating the money supply.