Budget talks: This is getting nasty

Man, I love The Onion.

 

Thanks to US debt deal, AAA credit rating safe for now Economic Times - 1 minute ago
NEW YORK: The US had its triple-A rating confirmed by two key ratings agencies after Washington struck a last-minute deal to avoid a debt default, but threats of future downgrades remain.

Moody's Investors Service and Fitch Ratings maintained US ratings for now, but said additional deficit-reduction measures are needed for the government to put its finances in order and retain the coveted rating.

Underscoring that threat, Moody's assigned a negative outlook to the AAA rating, which means a downgrade is possible in the next 12 months.

Fitch promised to conclude a more thorough review of the US by the end of the month and did not rule out slapping a negative outlook on the rating.

Now investors await Standard & Poor's. The agency has been tougher than its rivals, threatening to downgrade US ratings by mid-October if lawmakers did not come up with a plan to meaningfully cut the budget deficit.

http://economictimes.indiatimes.com/news/international-business/thanks-to-us-debt-deal-aaa-credit-rating-safe-for-now/articleshow/9475534.cms

 

While normally I'd agree with you -- right now there isn't enough private demand to spur economic activity. If individuals are deciding it's in their best interest not to spend money (even when there's practically NO incentive to save right now) then you have two options: Let the economy stagnate, or have the government start spending. Personally, I'll choose the second one for now. When things improve, let THEN make them take their foot off the spending gas pedal.

 

The problem with the elite panel is that the people on it don't want to cut anything because they're afraid of upsetting some precious lobbyist. Twelve reasonably minded people can get this done in a day.

 

So, what happens?

 

You will be able to figure out if it is meant to get anything done by who ends up on it.
- Figure you can cross off any Senator running in 2012 as well as any House member in a competitive race and the top leaders who may want to distance themselves from the plan.
- Cross off anyone who might go off the reservation (Lieberman, McCain, Murkowski, Conrad) and those members retiring who can't be penalized if they approve something the party leaders don't want approved.
- And then see who makes the cut. If they are back-benchers or don't have seats on the Budget, Appropriations, Ways and Means and Labor Force and Pensions committees , you can count on nothing being accomplished.
If you see people like Paul Ryan, John Lewis, Jeff Sessions, or Barbara Mikulski it could get interesting.

 

Who extended "THEIR" tax cuts?

 

I can almost guarantee you Democrats will appoint someone who will go off the reservation, because that's what Democrats do best. Bachus wants to be on the panel. So does Warner. You think Mark Warner -- the Mark Warner who can credit two wars and the fact that his state happens to be home to half of the nation's defense industry for the economic boom his state underwent while he was governor -- is going to stick with Democrats if the choice is accept a bad deal or walk away and trigger defense cuts? Not a chance in hell. (Oh, and Warner supports raising the eligibility age on Social Security, which is not a major driver of our debt and has no place in this debate, to boot.)

It takes one person to cross the line. Which party do you think is more likely to put a member on this bullshit super committee that's actually going to compromise? It ain't the GOP.

 

Only a "Republican's wet dream" in that he is even more incompetent than anyone could have imagined. He is doing a great job of killing the Democratic Party so, yes, he has helped Republicans. The jamming through of Obamacare and wasted stimulus dollars...not so much.

 

Yeah, great point. However, I believe it is YOUR side that has a problem with Israel. So take your NAZI rhetoric and point it the right way.

 

We need more tattoos in Congress.

 

What's your problem, I was thinking of getting a Katy Perry tattoo anyway.