Posted on 08/02/2011 11:11:19 AM PDT by JohnRLott
With a debt ceiling agreement finally in place and the Senate on track to approve it today congratulations are being handed out all around. Armageddon and catastrophe has supposedly been averted. And politicians are rushing to put the best face on the deal.
Unfortunately, the new agreement does not accomplish as much as many had hoped, or as much as it should have, in terms of curbing spending and continued deficits. This explains why stock markets continued to fall despite the supposedly "good" news. The reason is because, once again, politicians are continuing to push the problem to the future.
Here's a look at the winners and losers in the aftermath of the "catastrophe" that's just been averted:
The Winners:
1. Stimulus Recipients and Big Government: President Obamas Stimulus was supposed to just be temporary. Alas, the debt agreement locks in big government and the extra spending President Obama initiated will continue. . . .
(Excerpt) Read more at foxnews.com ...
Bullshit! Both are now assured and the dates of both have been moved up exponentamently.
And why should we believe this guy???
No, I’m kidding. If you’re THE John Lott, I love your work. As a former liberal Democrat turned “right wing fanatic,” your economic analyses of gun control helped me embrace the second amendment. (I always supported the second amendment, but formerly merely out of a sense that it was constitutional law, not actually a *good* thing.)
0BAMA!
He NOW has a bottomless pit of money to fund his reelection.
What’s to say any new debt bill would be adhered to any way?
Congressional Budget and Impoundment Control Act of 1974
Balanced Budget and Emergency Deficit Control Act of 1985
Budget Enforcement Act of 1990
Balanced Budget Act of 1997.
“Medicare, Medicaid, and SCHIP Balanced Budget Refinement Act of 1999”
Restoring Fiscal Discipline Act of 2007
Yep, just one more bill ought to do it.
The American people and our once great nation, the USA. Piss on the Repukes like Boner & McConnell & establishment elitist Repukes who sold & betrayed the election of 2010 and the people who voted for these bastards. They have just handed a $2.4 TRILLION gift to the RAT bastard commie pic 0dumb0 and ensured his election in 2012. Plus they have killed any likelihood of retaining the House or recapturing the Senate. Boner, McConnell, Cantor, et al, should be thrown out of office & tried for treason. They just divided & destroyed the Republican party in one swoop, which at least GW Bush took 8 years to destroy the Repub party. Thanks RINO & CINO bastards!
Ditto.
Times a million millions.
You forgot the Gramm-RudmanHollings Act. This act, was passed on December 11, 1985. It set a series of targets for eliminating the federal budget deficit by October 1, 1990. If Congress and the president failed to agree on voluntary spending reductions, the law called for automatic cuts of the necessary percentage from each item in the budget. One-half of the cuts were to come from domestic spending and one-half from defense spending.
Now for the good part
On July 7, 1986, the Supreme Court struck down the automatic-cut provision, on the ground that the act improperly delegated authority to the controller-general, an agent of Congress designated to implement the cuts.
Congress restored the automatic cuts in 1987, avoiding constitutional problems by assigning the power to make the cuts to the president and the director of the Office of Management and Budget.
I hope they did it correct this time.
Progress is in made in increments. We don’t yet have the votes to achieve what we want and it’s foolish to believe we could have got any better deal than what we did. In order to really change things, we must win in 2012.
///
i’m far from an expert, but Rush, Mark Levin, Club for Growth, Heritage Foundation, Jim DeMint, and many others, say you are wrong.
doing NOTHING, would have been better, than giving Obama another 2 TRILLION to spend.
instead of forcing HIM to cut freebies to HIS base,
all this did was dishearted the people who literally sent money they couldn’t afford, to send Tea Party candidates like Alan West to DC, who then betrayed them.
and funny, but the Democrats seem to do VERY well, with 1/3.
and look at the spending increase they got in 2007, when the GOP still had the WH.
and if we DO win, in 2013 there will be a 17 TRILLION debt, downgraded AAA rating, double digit unemployment and inflation.
Holding the line NOW, for REAL spending cuts, like the Coburn plan (9 trillion in REAL cuts) would have SAVED the economy, and sparked a REAL recovery!
Obama has increased spending by 40%. and we cut it back by 2%.
wow. great victory.
cutting an increase, is NOT a decrease.
and this bill passes the 2012 and 2013 budgets by “deeming”,
and has BUILT IN increases of 5%, and allow the Bush tax cuts to expire.
wow. great victory.
another such victory, and the war will be lost...
thanks! I will add it to the list of BS worthless bills.
Balanced Budget and Emergency Deficit Control Act” and “Gramm-Rudman-Hollings Act” are the same thing...
http://www.infoplease.com/ce6/history/A0909709.html
Well said, Elendur.
“Foolish People?”
You sound like Hugh Hewitt on KRLA-870AM.
I prefer Mark Levin on KABC-790AM. He, & me are tired of ‘your way’ -— it is time to act.
I recommend taking a hand gun self-defense course, and purchasing firearms as soon as possible.
When our government refuses to listen, we will have to make them listen.
And, if you do not understand what point I am trying to make, you are part of the problem. What I am saying is, we will defend our God-given rights, those rights carefully and thoughtfully listed in the Declaration of Independence and the U.S. Constitution. The ideas that became the Bill of Rights, were discussed thoroughly by our Founding Fathers in the Federalist Papers.
Seccession by the States from the “Federal entity” is a solution. The States will retake the power assigned to themselves, which was stolen from them by the Fed.
Do you understand?
Read our founding documents, and think about what is discussed therein.
OK... please explain why it always seems to be the Republicans who take the best deal the Democrats are willing to offer and not the other way around... The American people are getting what they wanted and deserve.
For God and Country... Geronimo, Geronimo, Geronimo!
[I’d like to know just what you would have done IF you only control one branch of government. Just what would you have done?]
I would have refused to raise the debt limit. There you go, mission accomplished, balanced budget. That is what the House should have done.
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