Visual Kabuki translation :
Posted on 07/31/2011 9:30:27 AM PDT by silentknight
12:04pm | Reid vote still scheduled for 1pm.
Senate Majority Leader Harry Reid said the Senate will still vote on his plan to raise the debt limit today.
Reid reading from AP report citing soldiers concerned about supporting their families if debt limit isn't raised.
Reid says he and Obama are "hopeful" that a deal is near. "We are cautiously optimistic," adding serious issues remain to be resolved in the next few hours.
"There's no agreement that has been made, but we're optimistic one can be reached."
Reid thanks McConnell for being a "cheerleader" on this compromise.
Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1ThTEm13A
(Excerpt) Read more at businessinsider.com ...
The Treasury decides what gets paid and when. Soldiers and others will be paid of they want them paid. There is more than enough money. The issue about the military being paid is a red herring.
Perhaps the most alarming numbers (which I have not heard much discussion on) are these numbers below
People are saying this is a great deal - the budget is being cut - savings - other
But if this information below is true then the discussion should be about what is going to happen over the next 5 to 10 years. The debt goes up and up and up and up and up.
Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO). In the past decade (2001-2010) Washington spent $28.3 trillion, so “baseline” outlays in 2011-2012 would entail a decadal increase of 62%. That’s not the biggest spending boom in U.S. history, but neither would it be anything close to “austerity,” as many critics claim.
Even the most “radical” GOP plan, to “cut” $9 trillion, would boost federal outlays by 30% in the coming decade versus outlays in the past decade, while the most modest GOP plan, to cut a mere $2 trillion, would boost outlays by 55%. Yet Democrats lambaste GOP plans as “Draconian,” prone to trigger a “depression.”
http://blogs.forbes.com/richardsalsman/2011/07/29/washingtons-budget-cuts-would-boost-spending-50/
They have no shame. Scaring senior citizens and military. They have absolutely no shame. How do they sleep at night?
This here should be echoed in every single discussion
Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO)
again
Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO)
I know that it takes awhile to sink those numbers into our head. Imagine this thread a few years from now.
This little nugget isn’t lost on most of us, either
Reid thanks McConnell for being a “cheerleader” on this compromise.
Dingy Harry, Drama Queen
They’re gonna have to print like mad. No other way around it.
Their “growth”/revenue projections are most likely a fantasy. If interest rates go up, we go from simply being screwed to totally doomed. We’ll be looking back, longing for the days when we were screwed.
Sens. McConnell, Kyle and McCain (and others) are so used to having their butts kicked on a regular basis, that today is just another day at the office.
The only victories they can secure to make themselves feel better is beating up on movement conservatives.
12:26pm | Republican Senators to meet at 1:45 for briefing on the debt limit negotiations.
Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1ThWXfFIk
Imagine what gold will cost. Someone said it normally goes up about $100 per trillion dollars in debt. Someone on here posted a graphic the other day showing this move.
Lawmakers In “General Agreement” Lawmakers In “General Agreement”
Must be series given the double in the title.
Sigh
CNN talking about how this deal is going to create all sorts of new jobs. This deal is going to save the economy. Best thing since apple pie. But only if we can get this deal done.
Where have we heard this before?
oops
Visual Kabuki translation :
I like that! Peas be upon them all...
Everyone in the house ans senate (well most everyone) should be given acting awards. Perhaps a Grammy.
It is like a bad Hollywood movie.
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