Posted on 08/02/2011 3:38:18 PM PDT by dynachrome
Talk host warns of 'Leninist' president's doomed path, offers 'better idea'
--------------------------------------------------------------------------------
Talk host warns of 'Leninist' president's doomed path, offers 'better idea'
As the U.S. Congress came to an agreement on a budget that purportedly would avoid the nation's first-ever default, talk-radio host Michael Savage warned his audience not to listen to voices on the left declaring it a victory for the tea party.
"If the left is telling you it's a victory for the tea party, then you know it's a lie," he said to his "Savage Nation" listeners.
Freshman Sen. Rand Paul, R-Ky., who was elected by the tea party movement, has pointed out that while the congressional deal touts a "cut" of $2.1 trillion, the best-case scenario would result in an additional $7 trillion in debt over the next 10 years.
"You're being hoodwinked again," Savage said.
(Excerpt) Read more at wnd.com ...
Obama gets $2.1 trillion of walking-around money immediately; we get a few token cuts in the rate of increase, not real cuts, and only the first year of those are under this Congress’s control. (That’s about $3 billion. Pocket change, by government standards.) The deal locks in massive new spending, defense cuts, and new taxes. So what exactly did we “win”?
BTW, we defaulted in 1933 and 1997. Not much changed; it just became an excuse for Big Government.
Even worse. They raised the debt ceiling and gave their politician's word that they and future congresses, over which they have no control, would slow down the growth of discretionary spending to the rate of inflation. In other words, they raised the the debt ceiling. Period.
The debt ceiling itself merely represents a self-imposed limit on US borrowing. Since Congress can vote to raise the limit, its existence has been more of a political nuisance than an actual barrier. The operative factor is not how much we allow ourselves to borrow, but how much our creditors are willing to lend. That type of ceiling can’t be raised by an Act of Congress. Once our creditors come to the conclusion that they have lent beyond our capacity to repay, they will be very reluctant to lend more. As trillions in short-term Treasuries mature, the dwindling pool of buyers will demand higher rates of return to compensate them for the risk. But our government is in no condition to afford those higher rates without gutting the rest of the budget.
...I see, I see!!!!!!!!!!
...Imagine, finding you here...
...Holder, SS. Napolitano SA...
LOL! Nice to “see” you!
you are exactly right. Only discretionary spending was touched at all and it wasn’t really touched - just a promise. But that is how it always works in DC. Then for tax cuts they have expiration dates but never implement an expiration date for a tax increase or new program.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.