I think we have to admit that McCain does bare some resemblance to Smeagol.
I think the problem with the Tea Partiers is that they see it as being their way or nothing. I understand their perspective and conviction but I think the issue is that they want to do it ALL at once. No compromise, every vote they make must include everything they think has to be done for the next 20 years of government. I think the problem is if we do it their way the whole economy is going to come crashing down. People compl
When our economy is plagued by the cancer of debt then compromise is not the best idea. Lets wait a few more years for the tumor to grow, or just chop tiny parts off it. Either you deal with it or let it consume you. The Tea Party movement is just the rationalization of that fact, after years of denial the populace is finally accepting the situation and urgently want it dealt with.
Hearing McCain complain about peoples actions inadvertently re-electing Obama is just hilarious. After his amazing run fro
Forcing a default on the US government, sending massive shockwaves through the global economy, which is already trying to deal with a potential partial Eurozone meltdown, that's not a sensible solution. That's the solution that self-destructive nihilists would take. It's almost like a financial Armageddon cult has taken over Congress.
And Obama, well, he gets the chance to do a number of things, including the 14th Amendment stunt, and look like the calm, collected rational president, just like when Bill Cl
There you go, swallowing those lies and mistruths you've heard blasted louder than anything else, on every major media outlet (and on some of the smaller ones). Refusing to not borrow more money will not, in fact, force the government to default on it's loans. The government still has enough money to pay the interest on the loans, no muss, no fuss. It may not be able to pay other people; foreign aid, congress, defense contractors, but it will not default on it's loans unless the President chooses to. Not to mention, the government has other assets which could be sold and turned into cash to pay those other obligations, with out much of a problem. The real deadline before the government must default is lot further down the road then they'd have you believe. Insider knowledge is not required to draw these conclusions, just common sense.
Even if we do "default", who do we owe the majority of money to? I bet you're going to say China, or some other foreign investor with an army to backup their demand for payment but you'd be wrong. The largest holder of US treasury debt is....The Federal Reserve Bank. Although, an independent entity, it's board is appointed by the government. It was created by Congress so that it could manuever around the Constitution and legally create a fiat currency. So, when you really look at it, we owe ourselves a lot of money plus interest. We could very easily, if we wanted to (and by we, i mean the government), cancel a significant portion of our debt eliminating the need to raise the debt ceiling. Of course, the bankers would lose out on a lot of interest but I think they can afford it. I'm sure the American people would rather it be them then us anyway and that's all that really matters.
And for anyone else who says you can't balance a budget by spending cuts alone: This is true in common business/personal finances where their are financial obligations that cannot just be cut. This is not true of the Government, there are plenty of programs the government pays for, that it doesn't absolutely need to and those should be cut. Only once all of the extra programs and there is still a deficit can one say revenue increases are necessary - not before.
The teabaggers don't give a shit about the finances. They have seen an opportunity for a major power grab and are on to it now. They redefined a routine move, that was expected to come when the last budget was voted for, into a make-or-break moment for the US. And they are perfectly willing to break it for their power gains.
If by "power" you mean, power to reduce the size of the Federal Government, then you are right. Redefining a routine move? If you don't understand that raising our borrowing limit and borrowing more money being a "routine move" is a major problem that needs to be corrected, then I'm afraid you are mind controlled.
Ah, one dollar for everyone without an argument making a snipe at my username. It's a pretty good idiot trap, isn't it? Helps me recognize the point when further discussion is useless.
"[The Federal Reserve] was created by Congress so that it could manuever around the Constitution and legally create a fiat currency."
The Congress cannot delegate powers it doesn't have. The Congress has the power to " lay and collect Taxes, Duties, Imposts and Excises", "To borrow money on the credit of the United States", To coin Money, regulate the Value thereof, and of foreign Coin", "To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powe
Smeagol (Score:5, Insightful)
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When our economy is plagued by the cancer of debt then compromise is not the best idea. Lets wait a few more years for the tumor to grow, or just chop tiny parts off it. Either you deal with it or let it consume you. The Tea Party movement is just the rationalization of that fact, after years of denial the populace is finally accepting the situation and urgently want it dealt with.
Hearing McCain complain about peoples actions inadvertently re-electing Obama is just hilarious. After his amazing run fro
Re: (Score:2, Insightful)
Forcing a default on the US government, sending massive shockwaves through the global economy, which is already trying to deal with a potential partial Eurozone meltdown, that's not a sensible solution. That's the solution that self-destructive nihilists would take. It's almost like a financial Armageddon cult has taken over Congress.
And Obama, well, he gets the chance to do a number of things, including the 14th Amendment stunt, and look like the calm, collected rational president, just like when Bill Cl
Re:Smeagol (Score:2)
Forcing a default on the US government
There you go, swallowing those lies and mistruths you've heard blasted louder than anything else, on every major media outlet (and on some of the smaller ones). Refusing to not borrow more money will not, in fact, force the government to default on it's loans. The government still has enough money to pay the interest on the loans, no muss, no fuss. It may not be able to pay other people; foreign aid, congress, defense contractors, but it will not default on it's loans unless the President chooses to. Not to mention, the government has other assets which could be sold and turned into cash to pay those other obligations, with out much of a problem. The real deadline before the government must default is lot further down the road then they'd have you believe. Insider knowledge is not required to draw these conclusions, just common sense.
Even if we do "default", who do we owe the majority of money to? I bet you're going to say China, or some other foreign investor with an army to backup their demand for payment but you'd be wrong. The largest holder of US treasury debt is....The Federal Reserve Bank. Although, an independent entity, it's board is appointed by the government. It was created by Congress so that it could manuever around the Constitution and legally create a fiat currency. So, when you really look at it, we owe ourselves a lot of money plus interest. We could very easily, if we wanted to (and by we, i mean the government), cancel a significant portion of our debt eliminating the need to raise the debt ceiling. Of course, the bankers would lose out on a lot of interest but I think they can afford it. I'm sure the American people would rather it be them then us anyway and that's all that really matters.
And for anyone else who says you can't balance a budget by spending cuts alone: This is true in common business/personal finances where their are financial obligations that cannot just be cut. This is not true of the Government, there are plenty of programs the government pays for, that it doesn't absolutely need to and those should be cut. Only once all of the extra programs and there is still a deficit can one say revenue increases are necessary - not before.
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"[The Federal Reserve] was created by Congress so that it could manuever around the Constitution and legally create a fiat currency."
The Congress cannot delegate powers it doesn't have. The Congress has the power to " lay and collect Taxes, Duties, Imposts and Excises", "To borrow money on the credit of the United States", To coin Money, regulate the Value thereof, and of foreign Coin", "To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powe