The Wolf The Republicans Just let In The Room

Market Ticker ^ | 8-1-2011 | Karl Denninger

[Will88]

So GIGO is still valid after all these years? Who’d a thunk it!

One of the constants in life. And I bet a heck of a lot of Americans think the CBO prevents the "Garbage In" part of the equation, but that doesn't seem to be the case.

Politicians in both parties use the CBO as a sort of "Good Accounting Seal of Approval". I'd like to hear their role clarified by someone who really knows what guidelines they work under.

[org.whodat]

Correct, the concept the republicans are peddling, that you can increase spending forever without paying for it is as crazy as their fellow travelers in the democrats party and their free lunch crowd.

[dsc]

“All that’s needed is someone on the Republican side with more charisma than McCain or a tree stump (take your pick).”

I would vote for a steaming pile of dog crap over Chairman Maobama.

[Blood of Tyrants]

The taxes were going to increase anyway. And the FICA decrease was a piddly 2%. Most people didn’t even notice the difference when it expires.

[InterceptPoint]

I agree 100%. See my Post #13.

[SuziQ]

yes, IF they are allowed to expire. I’m sure that the tea-partiers are also well aware of this, and it would make a great campaign issue against 0bama and the democrats in the presidential election cycle - particularly since it is highly likely that the economy will still suck (if not into another recession).

Isn't it interesting that last week, Tea Partiers were being villified as hard hearted, uncompromising, skunks at the garden party. But just yesterday, I heard pundits talking about how the Tea Partiers were big winners in that the national conversation is now about cutting government spending, and polls show that's where most folks are, as well.

We need to keep that conversation going, and instead of screaming about how horrid this deal is, start working to get some more conservatives in office to replace those who don't seem to be worried about the spending problem.

As my dear late Mama always used to say, "You can catch more flies with honey, than with vinegar."

[Godzilla]

But just yesterday, I heard pundits talking about how the Tea Partiers were big winners in that the national conversation is now about cutting government spending, and polls show that's where most folks are, as well.

That is why the Tea Party reps are there - the people wanted this. And if we can step back and breath a minute, note - 0bama stomped his feet and wanted 1.5 trillion in new taxes- he got none. 0bama stomped his feet and wanted a big single solution - he still got a two step solution that'll hang around his neck like an albatross. He stomped his feet and demanded no BBA - but a vote on a BBA is now to happen - in the midst of the election run. Not bad for a bunch of freshmen hobbits who only control one side of congress versus a democrat senate and WH.

Tackle the bush tax cuts afresh at the appropriate time, let the dems think they've got us, then pull the football away.

[Georgia Girl 2]

Yes I have major problems with the Super Committee. I think we are just going from the Gang of Six to the Gang of twelve. Government by Committee. What about the other 423 Congress Critters that might want to present a piece of legislation on matter of our debt? They will be ignored.

[Pagey]

bttt

[mbynack]

There's no way that the middle class isn't going to get a tax increase in some form. The government isn't going to stop spending more money than it's taking in.

If the government taxes corporations at a higher rate, either by raising corporate taxes or by inventive new ways of sucking money out of them, it's just going to be passed on to the middle class in the form of price increases.

At some point the democrats are going to get there way and impose "revenue increases" on everyone who currently pays taxes in order to buy the votes of the 47% of Americans that don't pay taxes.