posted
Is it really a negotiation deadlock crisis, with Armageddon-like consequences for the country, as the fear-mongering corporate Us media and two party officials natter on day in and out?
.....................OR....................
Is it just a ruse by the two main parties to control public opinion about the brutal social spending cuts that both parties actually agree on, outside of quibbling over toothless tax increases being promoted by the Democrats to further cover up the brutal nature of the conditions [aka spending cuts] attached to raising the debt ceiling, and thereby preemptively averting public anger and associated social unrest, as greeted upon in European countries like Greece?
Have your say, if you care!
Posts: 7516 | From: Somewhere on Earth | Registered: Jan 2008
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posted
The Debt ceiling debate is a sham. America is not broke as has just been shown by the huge increase in White/Jew income and decline of black, Hispanic, and other TRUE minority incomes. What the phony debt ceiling farce is truly about is Whites/Jews manufacturing a crisis that will allow them to demolish any remaining minority focused social programs and redirect those funds straight into White/Jewish pockets. In short, Jews are giving themselves yet another, FREE-HANDOUT raise. The really sad part of this is; Obama is assisting these white/Jew crooks, while knowing exactly how adverse the conclusion of this farce will be on black households.
Posts: 2403 | Registered: Feb 2010
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posted
Yes, the income of the richest one percent can be used to pay off the debt, if the will was there.
If as the US corporate media say, that phone lines are overflowed with calls from people urging their house and senate representatives to "compromise" and seal the deal to get the debt ceiling raised--as called upon by Obama through his televised speeches, then the ruse is working. It has gotten people simply eager to get the "job done", i.e. cutting spending under the banner of "raising the debt ceiling", instead of focusing on the content of proposals for the budget tied to the debt ceiling...and thereby rejecting attacks on their livelihood.
Posts: 7516 | From: Somewhere on Earth | Registered: Jan 2008
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posted
The debate is a sham in my opinion, a ruse to subvert public opinion and to allow the Corporate CEO's to pay the debt from their massive Tax Cuts off by cutting Gov. Programs and digging into Social Security.
Im glad you spot the ruse too, Its obvious that Obama and the other Corporate whores have successfully found a way to dig their dirty paws into social security, The media has successfully fooled the simple minded public. Sad and Pathetic.
Posts: 8812 | From: The fear of his majesty had entered their hearts, they were powerless | Registered: Nov 2007
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quote:Originally posted by The Explorer: Yes, the income of the richest one percent can be used to pay off the debt, if the will was there.
If as the US corporate media say, that phone lines are overflowed with calls from people urging their house and senate representatives to "compromise" and seal the deal to get the debt ceiling raised--as called upon by Obama through his televised speeches, then the ruse is working. It has gotten people simply eager to get the "job done", i.e. cutting spending under the banner of "raising the debt ceiling", instead of focusing on the content of proposals for the budget tied to the debt ceiling...and thereby rejecting attacks on their livelihood.
Actually, the debt can be paid by taxing ordinary upper middle class taxpayers who usually greatly reduce their tax payments by using tax attorneys, estate lawyers, tax shelters, and phony corporation write-offs. The average taxpayer making greater than 150K/annually pays on average 1/4 of the tax they are supposed to. In fact, many of them may even end up receiving refunds.
Corporations like Microsoft hardly pay anything, and if they do, end up actually making money with tax breaks, tax shelters, and moving taxable operations to states that have no tax such as Texas, Nevada, or Delaware. These crooks should be treated like the criminals they are, and if they have a problem giving back to the country that enabled them to make their Billions, confiscate their loot and deport them back to Russia or Europe from which they came.
Posts: 2403 | Registered: Feb 2010
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posted
I particularly singled out the richest thin layer of the country, because they have amassed wealth with no parallel from any other layer, not even the upper middle class, whom - yes, have greatly benefited from tax loop holes as well.
In any case, the immediate focal point of my post is the need for the average folks to pay closer attention to the substance of the budget plans being doled out by the Republicans and Democrats alike. People are simply being fear-mongered into worrying about getting the debt ceiling raised as quick as possible, and paying no attention to the substance of the proposals, when in fact beating the time clock just to get the "damn thing done" should be the least of things people should be concerned about. If and when these proposals are put into action, that's when they will realize what they were rushing politicians to get done, instead of taking their time to learn about the details of the plans and rejecting the attacks without reservation.
Posts: 7516 | From: Somewhere on Earth | Registered: Jan 2008
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"The agreement reached Sunday by President Barack Obama and congressional leaders from both parties calls for up to $2.4 trillion in savings over the next decade"
Well, if they found the missing 1 trillion dollars that vanished into thin air in Iraq, that would go a long way to that goal now wouldn't it? But Obama and his neocon friends probably ate it all up.
Posts: 4254 | From: dasein | Registered: Jun 2009
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posted
The so-called $2.4 trillion in saving is essentially borrowed money, since the amount by which the debt ceiling is supposed to be raised is also $2.4 trillion.
Basically what the Washington politicians are saying, is that they will borrow $2.4 trillion, but won't spend it on the average folk.
It will likely go into military spending, bribing politicians in foreign countries and bailing out businesses.
Even this $2.4 trillion in spending cuts is not enough for certain Republicans. The hardcore fiscal Republicans want to put caps on borrowed money and even deeper spending cuts than the $2.4 trillion. These would be the so-called 'cut and cap, and balance' bunch.
Other Tea Party elements, as personified by Michele Bachmann, don't want even the borrowed money, but would rather have bone-crunching deeper cuts than the proposed $2.4 trillion. The idea here is to presumably rely on economic growth, while putting a stop to the deficit hemorrhage through very deep spending cuts. One glaring problem that sticks out here, is that these same ideologues would bark at taxing corporations and the rich to any substantive degree.
In the end, the House Dems vote for the deal was essentially split, while a good majority of Repubs voted for the measure.
Given noticeable Democrat reservations about what the Dems would be "compromising" with this deal, it remains to be seen how it will fare in the Dem controlled Senate.
It's likely to pass in the Senate that notwithstanding, because both the Dems and Repubs agree on substantive spending cuts, even if there is tactic quibbling among the Repubs over the extent of cuts, and bickering between Repubs and Dems over toothless increases in taxing the rich.
The deal has been flaunted as a victory for the Tea Party radicals.
Posts: 7516 | From: Somewhere on Earth | Registered: Jan 2008
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posted
There is a deep ideological struggle here. The Republican goal is to reduce government spending to almost zero in all areas--i.e. in all areas where the economically challenged get some respite--except military spending and spending that subsidizes U.S. corporations overseas(AID).
The U.S. is what you would call an "uber-capitalist" nation which strives for the maximal gaps between the wealthy and poor. Compare this ideological approach with that of Scandinavia, which uses government spending for the communitarian public welfare and good.
There is also a racial dimension to all of this. The implicit ideological idea here is that only whites--in principle--are entitled to the "good life"--not Blacks and Native Americans. Note the stark differences between Black and White Wealth following the recession of 2008. The factor difference is approximately 20, if my memory is correct.
My point about the ideological goal of white America, following the 1960s Civil Rights statutes, is supported by the Republican and implicit Democrat moves to "reduce the size of Government" in social welfare areas especially, without raising taxes on those with the most wealth. Note that Obama--a virtual Manchurian candidate--is moving stealthily to retain Bush's "tax cuts on the wealthy".
But the goal is to increase demand by reducing unemployment then by cutting spending without raising taxes on the wealthy so that government spending on Keynesian-type infrastructural projects leading to new employment-- will just make matters worse by further reduction in demand. The result will be the further impoverishment of the black and other non-white populations.
To simplify matters: if you are heavily in debt and must cut back on spending and must also borrow to re4pay debts, then the only way you can repair your credit and economic situation is to have revenues coming in through work.
In this instance, the role of government is to ensure that those revenues are coming in through taxation of those who have huge amounts of cash and profits, i.e. the big corporations.
Again, the problem exists because business and the banks--sitting on huge amounts of cash--are hesitant to lend and invest because the consumer demand is just not there.
One creative solution--which Obama and his right wing allies--will never, ever try is to demand that mortgage interest rates be reduced to near zero and mortgage payments be reduced by 80%. Demand will take off like a fighter jet on aircraft carrier and business will start hiring again. Unemployment will reduced to normal capitalist levels in a few months.
But greed, racism, and pure white hubris will never allow this to happen. Talking of slicing off noses to spite faces!
Posts: 5492 | Registered: Nov 2004
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