Budget talks: This is getting nasty

As a group the newly elected Tea Party Republicans are the only ones showing some integrity in this mess. They are sticking with what their constituents elected them to do. They also frown upon earmarks so there is little chance that they will change their vote for some treats for their district.

Does not mean they are right.

 

Boom -- it's been well-established that Tea Partiers are just as likely as anyone to seek goodies for their district. Their "principle" is to do it when no one is looking.

 

This is crap on so many levels.

The Tea Partiers were elected to make sure we default on debt/spending already approved by Congress?

And Bob made the point about earmarks.

 

Anyone who thinks default is a cheaper option than raising the limit is nuts. You want to cut spending, cut spending. You want to cut the deficit, cut the deficit.
Cutting off your leg is not a rational way to lose weight.

 

Pulling yourself up by your bootstraps with only one leg has got to be nearly impossible. Maybe they'd understand that way.

 

So, at this point, I'm getting antsy about my 401k. Are any of y'all shifting investments in anticipation of the default? And, if so, where? Sadly, my 401k doesn't have a "canned foods, ammo and farmland" option.

 

I believe the most appropriate response to this post can be provided by one Vincent Gambini.

 

I just read Fidelity's FAQ for investors this morning and found it informative.

https://guidance.fidelity.com/viewpoints/debt-ceiling-countdown

The gist is: Whatever might happen next week, once an agreement is reached the market should return to where it is now. If you're really concerned about the direction of the entire economy in the next couple of years, that's one thing. But unless you're Ragu and paying enough attention to make money on a day-to-day or week-to-week basis, trying to time the market in the next day or week isn't going to be such a great move. You'd be selling on the low, with stocks coming off their worst week in more than a year.

 

Mitch McConnell's flat face and droopy voice makes me want to beat the shit out of him.

 

The Democrats are meeting at the White House to surrender to McConnell right now. We will repeat this charade in September, when appropriations run out. The Democratic party might as well fold up shop. Its leader did about five months ago.

 

Laughable post about the Tea Partiers and their "integrity."

As has already been noted by others, they have proven just as adept as the predecessors they railed against in bellying up to the trough when it comes to getting theirs for their districts.

Integrity, my ass. Just the same rancid wine in a different bottle.

 

Bushanomics: Increase spending (2 wars, increase in Medicare benefits) while reducing revenue (tax cuts to the wealthy). That's the way to drive the country into the ditch. Now we'll see if Congress/Tea Party drives us over a cliff.

The Right/Republicans/Tea Partiers have to ask this question: Is winning back the White House in 2012 worth causing a cataclysmic economic melt down? I think we already know that answer.