Posted on 07/31/2011 5:58:37 PM PDT by Free ThinkerNY
WASHINGTON (AP) -- Racing the clock to avoid a government default, President Barack Obama and Republican congressional leaders reached historic agreement Sunday night on a compromise to permit vital U.S. borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts.
(Excerpt) Read more at hosted.ap.org ...
There are some young people I feel sorry for. There are some who I say will get what they deserve. It’s just sad that they’ll bring everyone down with them.
Don’t worry. Stocking up on silver also.
So, what’s your take on silver? Will it drop for a while then go through the roof once they figure out this is a bad deal for America?
Would the founders consider us gutless for just lying down and taking what is going on in that cesspool called D.C.?
If every person who hated this govt’s direction actually got off their ass and traveled to washington to march on the mall and overrun the capital they couldnt do a damn thing about it. Why can’t we put together 1-2 million conservatives to march on washington and show our anger in person? This has gone too damn far!!!
A great forum for those interest in precious metals
http://forums.collectors.com/categories.cfm?catid=42
My only take on it is that I can’t afford gold!
LOL — seriously, only buying it as it’s all I can do for now along with trying to add on all our other “preps.”
I smell a coordinated effort by Obama and GOP leadership to pigeonhole the House TEA members.
Would have been nice to buy gold when it was under $300 a few years ago. Amazing how much has changed.
>> Our Children and Grandchildren are screwed.
That’s a terrible thought, but I don’t think it’ll take that long.
I think their parents and grandparents will manage to deprecate our dollar at a rate that will let *us* share a considerable amount of the pain *right away*.
No mention on Facebook either. ;)
You can imagine the rating agency all on board for all the obvious reasons. But with this low of cut how can they justify a Triple A rating. Geez.
“You are right...we got work to do...for those who want to not give up.”
Note my screen name!
I don’t quit.
I’m not sure of the power of the minority democrats + 25 turncoat republicans. They would have a majority. Can they then force the floor and force the vote?
If they can, then ask yourself whether there are at least 25 rinos in the House of Reps.
I’m unsure of House procedures in the face of a majority. In the Senate a filibuster can hold everything up, but what can hold up a majority in the House?
lol Long term spending cuts means cuts not in the 2012 budget, but in some other budget controlled by some other Congress. As we have seen since 1962, that means “never”.
Reagan and Bush I fell for this too- in fact, so did we all.
Cue The Who Won’t Get Fooled Again, but mix in irony.
I meant that obozo said “the rich and the corporations will have to pay their ‘fair share.’”
The moment he said that I knew this deal was bad for America.
He was telling the “truth” insofar as that “truth” pushes his anti-American agenda.
Cuts ONE DAY of Federal Expenditures. Not enough to prevent a downgrade, sooner or later.
This economist sums it up nicely.
http://confoundedinterest.wordpress.com
I agree . Its a phony deadline.
When I hear Hucky and Bonehead spitting out the same 98 talking point thne I think back to the last great deal Bonehead cut whcih was a complete scam and helped fund Obamacare for years.
9:50pm | Sen. Mike Lee (R-UT) tells CNN’s Wolf Blitzer that he will filibuster the vote tomorrow, which will require 60 votes to break.
9:48pm | Beginning of the “age of austery.”
Jonathan Alter on MSNBC: “Historians will look to tonight as the beginning of the age of austerity in America.”
9:47pm | How about some Merlot?
Rep. Mike Kelly to Speaker Boehner on conference call- grab a gatorade and smoke a cigarette - you’ve earned it. Boehner response: How about Merlot?
9:44pm | Bachmann still a no vote.
GOP Presidential candidate Rep. Michele Bachmann (R-MN) says: “This isn’t the deal the American people ‘preferred’ either, Mr. President. Someone has to say no. I will.”
Another no votes is Rep. Jason Chaffetz (R-UT).
9:30pm | Defense cuts cut.
A key sticking point earlier this morning was the scope of mandatory defense spending cuts that would take effect if the “Super Committee” reccomendations failed to pass Congress. Those apparently have been minimized, The Washington Post reports.
Read more: http://www.businessinsider.com/live-coverage-debt-ceiling-sunday-negotiations-2011-7#ixzz1TjozCqlI
Where did you see that there are only $4B in cuts next year? I assume next year means 2012? If true, that’s a deal breaker for me as well.
One of the congressmen just interviewed on Hannity reported that—with great disgust!
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