That is what they call debt reduction in Washington.
The goal is to convince lenders that we are completely out of control, undisciplined, irresponsible, unable to manage our finances, and that we actually think other countries give a cr@p what happens to US in the future.
I had a conversation with my father last week, & I asserted then that the debt ceiling would be inevitably raised. It’s not like we have a party of fiscal responsibility, just one that has a (very) slightly less urgent need to spend madly.
The problem with passing the buck (or kicking the can down the road) is that the only solution that will be used is the only solution that requires no actions: inflation. I pray to God we don’t end up in a hyperinflationary spiral, but I wouldn’t bet against it.
We may see the money printing presses working overtime very soon.
It’s those radical tea partiers…………
Fiscal responsibility, less government, balanced budget, less spending and less tax…….
I mean, that’s like totally radical man…………….
CNN pathetic attempt to blame Tea Party
for those who didn’t see it:
http://www.youtube.com/watch?v=0rSthGQylgE
Yeah, “blame the tea party” is the big talking point in leftist circles. Almost like there’s some central distribution point, some underground message board for the dissemination of pro-White House, pro-leftist propaganda.
Good thing that “journo-list” got busted, right? So they* stopped doing that, right?
*Oh yeah, I’m referencing the shadowy “they” which consists of Spencer Ackerman, David Weigel, Ezra Klein, Jonathan Chait, Joe Klein, et al. You know, the ones who, while working at supposedly impartial news outlets, were actually conspiring to disseminate leftist talking points as news? Yeah, those guys. You know, the ones we don’t actually have a full list of because Ezra Klein deleted the list. Yeah.
Does anyone honestly think that our government could EVER spend less than what it can steal from us? What is EVER the motivation for them to reduce how much they spend? The ONLY way to stop them from spending is to quit giving them money to spend, period. Whether that be through borrowing or stealing, either way, they will spend until you take it away from them. There is NO other way.
I think Obama is all about taking America down.
Add 20 trillion debt over 20 years. Cut 2 trillion. Net18 trillion debt added. Great deal Boehner.
VOTE HIM OUT
Let’s not forget the interest on that debt! Your savings get zilch, your equity shrink but what you owe gives the bankers a nice bonus.
Bankers will do just fine, at least the ones at the top of the system, during the bad years to come. The value of their stocks will rise with inflation. And when the bubble bursts they will sell then short their stocks and make fat money all the way down to the bottom.
Meanwhile people’s savings will lose value. Inflation will kill the value of their saved dollars. There will be suffering in America. And those on entitlements will see cuts to their free 1st and 15th of the month payments. I heard a man with a good track record for forecasting economic trend say there will be riots similar to Greece and it will take the military, in some cases, to bring it to an end.
America is certainly f#@*#d for years now. The piper will come calling. I can see nothing but economic hell for about 8 years now. God is the only thing that will sustain people through it.
I smell such a big rat…. they have done this to make it look like they accomplished something good. They could have increased the ceiling like they did in all the previous years. Now they make you think that they are making a difference. What they are trying to make is to make you forget that they put you, your kids and your grandkids in hock up to the eyeballs to subsidize their banker buddies. Just shameful.
Brought to you by the same people who caused the housing crisis. ‘Fairness’ will be the death of us all. When I was growing up, we were told life is not fair, what happened? We are now legislating fate?