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Sunday, July 24, 2011

Just a Thought on the Debt Extension

John Boehner thinks he can put something together before Sunday night. At a minimum, Boehner should pass a clean up or down bill that raises the debt for twelve months. Forget spending, forget tax reduction or anything else in this bill. That will put the debate where it belongs, flatly in the middle of a national election and the people will have their say. Obama would not be able to veto it. He is bluffing and could not be so irresponsible in vetoing an extension that he has been telling to all is desperately needed.

19 comments:

  1. This is just another three page TARP deal. Let the Asian Markets crash. Maybe the U.S. speculators living off of negative interest rate $$ from our Fed will be wiped out.

    Do not be stampeded into another TARP scam.

    Boehner has had months to get reasonable. Obama needs to invoke the 14th amendment and move on. What court would rule against us paying what we owe?

    The whole stock market and oil markets have been inflated with cheap money by the Fed and those with savings have been raped by the economists and wall street with negative rates.

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  2. All of the D&Rs are talking closing loopholes. Closing loopholes IS raising taxes. A loophole is something created by legislators to pick winners and losers in the tax code. It should not be within their scope to do that! Too much power for these pin-heads! If you close 1 loophole, I say close them ALL. No deductions for corporate jet owners and millionaires, no home interest mortgage deduction, no deduction for the number of kids you have, no charitable donation deductions, and no deduction based on a minimum income. You make it, you pay the tax rate based on your GROSS pay, period. I would like to see the CBO calculation on how much revenue this “plan” would generate!

    Try taking this power away from Congress and see how they react!

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  3. One final point: Whichever way we turn the American people are getting screwed - Will we ever tire of this plutocracy?

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  4. Both parties are waiting for the Economy to save them. Neither understands the depth of the problems we have.

    It doesn't matter what they do here. We will get our ass-whupping. We can take it now, or we can take it later. But, Take it, we will.

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  5. Look at it this way: We are, largely as a result of a very serious recession, hemorraging out of a 15" gash in our throat.

    This whole argument is about whether to apply a 1" or a 1 1/2" bandaid, or at the very most a 2 1/2" bandaid. Or, way out in Dreamland, a 4" bandage.


    It's the Jobs, stupid.

    It's the Recession. Fix that, the wound is curable.

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  6. But, here's the problem: This recession is not like any "recession" we've ever had.

    This recession is being caused by the unavoidable depletion of a finite natural resource.

    You can't "Print" Oil.

    And, you can't "Legislate" oil.

    God made so much.

    He didn't make Any More.

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  7. Good Lord. Just watched Boehner, and Geithner. Either one of these guys is the greatest negotiator alive, or we're in for a hell of a mess.

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  8. I have a feeling that if we don't see a live video of Boehner, and Obama taking a warm, soapy shower together by 5:00 PM, today, we're all going to wake up between 10 to 20% Poorer, tomorrow.

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  9. Washington (CNN) -- Congress must reach a deal now to raise the federal debt ceiling through 2012 because "you don't want politics messing around with America's faith and credit," Treasury Secretary Tim Geithner told CNN on Sunday.

    One Question:

    Why is 2012 sacrosanct?

    The debate has been all about politics this year. It was all about politics last year. It will be about politics next year. Savings, jobs, homes, social security , the future of the nation, none of it is as important as the political careers of these maggots that rule. When will people grab them by the collective scruff of the their necks and give them the political defeat they worked so hard for?

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  10. The Prime Directive: Stay Alive.

    Applies to people, bacteria, and Political Careers.

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  11. I've been thinking about Bonds. I'm not so sure that They will fall a whole lot. Then again, . . .

    hell, this really is uncharted water.

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  12. The biggest asset we have is that at this time the rest of the world has nowhere else to go.

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  13. We need real GDP growth of at least 3.3% just to keep unemployment where it is. What don't they understand?

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  14. All that money and time wasted trying to save worthless banks, demolishing savings and doing nothing about creating a job expansion environment. That can be reversed but not by Wall Street or the Bankers.

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  15. 2nd qtr GDP number will be out Friday. I'm figuring in the 1% range.

    The current qtr could, easily, go negative. Next quarter, I'd bet the ranch on it.

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  16. Both parties, Deuce, have a strong motivation to deny that Oil "Flow" has peaked.

    You can't fix a problem that you deny exists.

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  17. BTW, when you hear the PUbs say they want to "broaden, and flatten" the tax burden, while reducing rates, that means:

    Shift the tax burden down from the highest earners to the Middle, and Lower earners (hint: mostly, the Middle.)

    Which is, I would guess, Most of "Us."

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  18. In one hour and forty-five minutes the Pubs are going to make some sort of statement.

    In two hours and 15 minutes we'll see what the market thinks.

    This Page will give you the early read.

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  19. You can't "Print" Oil.

    And, you can't "Legislate" oil.

    God made so much.


    America doesn't have an oil shortage, it has an access shortage. Drill, baby, drill!

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