The economic terrorists are at it again...
Republicans are gearing up to hold our economy hostage yet again. The last fight over the debt limit cost our economy $18 billion dollars, and despite that, the GOP is ready to do it all over again to try and force President Obama to accept even more extreme austerity measures. Last week, House Speaker John Boehner said, “we're not going to raise the debt ceiling without real cuts in spending. It's as simple as that.”
However, over the weekend, Treasury Secretary Jack Lew warned against another manufactured emergency, telling CNN, “We've already done a lot of deficit reduction,” and, “we need to get the debt limit extended in a way that doesn't create a crisis.” He explained that we must start investing in our nation to “build our way to a better future,” and said, “the President has made crystal clear, he's not going to negotiate over the debt limit.”
Lawmakers must reach an agreement by early November to prevent the government from defaulting on its debts, and both sides are preparing for a fight. Republicans are simply ignoring the enormous deficit reduction that has already taken place, and implying that the painful austerity measures hitting Americans weren't the “real” spending cuts that the GOP has been calling for. Americans being hit with reduced unemployment, fewer meals on wheels for seniors, and forced furlough days would certainly argue that the sequester cuts are, in fact, very real.
This is shaping up to be another GOP-manufactured crisis to force the President to give in to economic terrorists' demands. Americans are fed up with Republican economic hostage-taking. As lawmakers head home for their 5-week summer recess, it's likely that they will hear just how frustrated Americans are. It's possible Republicans in Congress will actually listen to their constituents this time around, but it's more likely that we'll be facing yet another debt limit crisis in the coming months. Stay tuned.
Comments
As corporations develop monopoly control of the US economy, congressional investment can only be in those fewer opportunitles still left. So conflict of interest is less and less avoidable to the poor ol' congress.
You’ll get better and more information if you listen to The Onion instead of the misinforming Fox News network, whose owner was born and raised in Australia, and is not an American. The most obstructing Republican Congress in history wants to take this country back to a King George III monarchy which supports a Oligarchy, Aristocracy, Military junta, or Plutocracy types of government, instead of Direct democracy the form of democracy in which the people decide, which Republicans and Conservatives do not support but advocate the wealthy classes of this country to rule us in a surreptitious fashion. I want my country back, back before Reagan the destroyer, pre-Reagan where we have equality instead of inequality. As it was explained in the book the Spirit level: why greater equality makes society stronger, By Kate Pickett and Richard Wilkinson.
Vegasman56 -- I agree with everything you say. I would like to add the solution to our problems would be to bring back the tax structure of 1930's to 1970's. Besides the high tax rates we also need the same tariffs plus many more items in the tax code. One of my favorite things to get rid of would be the accelerated depreciation computation; just use actual depreciation. Of course, Eric Cantor walked out of the meeting where it was being proposed to increase the full depreciation of a corporate jet from 3 years to 7 years. The actual full depreciation is 30 years.
??? uh, forgive me, uh we know that they are all a bunch of doorknobs and it is business as usual and for all the writing we could do to our congressmen and women nothing will really change. On a deep note though? In just the last month i have come to wonder who are those who doth plunder! as i stroll regularly into my fav 7-11 to get my pabst for the night and more and more it seems the person ahead of me is purchasing goods with an E.B.T. card!!! I'm not talkin' egz, milk and bread, more like slurpees, cheetos and ice cream. So in a word? I have lost a bit of my help the other cat out compassison as i pay out the butt for college for my kids and have to still pay out my butt in taxes at the end of the year. But, it's even bigger then that i think and it's not really getting talked about and that would be just the sheer amount of misappropriated tax dollars! Okay so i'm kind of sick of feeding the pudgy poor when i have to work for peanuts myself but how about all the retarded so called urban renewal projects or highway projects or any number of other so called infrastructure projects that while beneificial to a degree are likely just more ways for us to get ripped off by the corporate machine and the pigs putting pork in to the fat! good example? $210,000,000 into changing "my" car pool (yes the lane i probably already paid for with my tax $) lane into a toll lane? L.A.s best new fiasco and who made off with all the money? hmmm? but even better. is while detroit rots and goes bankrupt they say they will proceed with building a new ice arena? hu, wha? $400,000,000!!! $250+mill of which will be "TAX PAYER" funded? uh hello? okay so it will create some nice paying construction jobs for a while, yup. then? a whole gang of minimum wage jobs indefinitely? But do you get my point? Who in all F#@*K%Ng reality is really going to benefit from it? You? Me? Nooooooooo! some corporate machine that will makes gads of $$$ first by skimming off the top and then gads of $$$ from extorting the public with admission and conssession pricing. You and i get nothing and yet? $250,000,000 to do it all is coming out of yours and my pocket!!!!! Now? Quantify by the amount of dumbass projects we have going on that are likely so grossly overpriced that a good audit of bids would probably in itself save the country $$$,$$$,$$$,$$$.00!!!! yup...help me out here will ya!
I wish the Republican lawmakers would listen to what we the people want, such as infrastructure improvement, a real jobs bill and strengthening Social Security rather than ruining it. If past preformance is any measure, I hold very little hope that they will. I am pretty sure that they will again hold our economy hostage, damn the consequences.
I hope that in the red districts, the representatives get an earful from constituents that are sick and tired of representatives that refuse to represent them, but would rather engage in this unpatriotic game of chicken with the full faith and credit of the United States of America as the chosen hostage. I see it as treason.
...those projects? to build = temporary. how 'bout if your going to give away my tax dollars you give me a few mil (3 should do) so i can start my made in america novelty coffe cup company. I'll put 50-100 people back to work start them at $12 an hour + profit sharing and sub minimal med (cuz thats just another social ripoff by the insurance corps). I'll even take a $18 an hour wage just to run the thing and build something....MADE IN EFFIN AMERICA!!!WOOHOO!<that will be the imprint on the bottom. It'll be a business co-op purely employee owned and operated. no IPO whe it gets humungoid no greed allowed just folks working to make a living and knwoing they won't get the shaft!!! we'll make all those bad ass coffee cups that folks buy at X-mas for anywhere from $6 on up to $20. You know the ones that get made in china for like 25 cents and then shipped back here for you to go waste your money on? While we're at it? give by truck driver buddy a few mill too. He wants to make flat ware? Okay what ever floats his boat. says he could do the same, put a gang of unemployed back to work making forks, spoons and knives that..well you get it....there are far better ways the boobs in washington could be changing the face of the nation rather then the way they are!!!! yup!
Building a new ice Arena may give Detroit something of a glimmer of hope, something to build around, like they have Ford field. Detroit is going bankrupt not because if bad spending and planning(though that plays a small part), but by the loss of 300,000 factory jobs since the se free trade agreements have come in, exspecially since NAFTA. Hard to compete when you can ship jobs to Mexico, Chile, China and get things made much cheaper. American workers can not compete with workers making a $1.00 a day. Of course with all the job loss caused by this, the prices of good haven't even come down but go up and up. If we want to rebuild American economy it's going to have start with construction and Manufacturing. Audit of bids though is a good Idea and maybe, if it's federally funded, all raw material must come the USA, for all Government projects unless the US does not have them. We also have to stop paying companies to outsource jobs, instead give incentives to bring back jobs. So much can be done right now to get the economy going, but the right won't allow anything. The debt ceilling BS is unconstitutional, the US Government pays its bills period, its in the constitution these rt wing nuts claim to uphold.
Projects to build if done right aren't really temporary, because more will follow. There is also a spin off effect more people working means more people have money to spend, which equals more shopping, equals more manufacturing(if its made here) thus more people working, thus the cycle feeds off it's self, but you have to start somewhere. I do also agree though that more should be done for people wanting to start there own buisiness, trying to get credit to do that today is about impossible!!!! Time to build the middle class back up, strong middle class= strong vibrant America
i'm on a roll and i do like detroit to have a glimmer of hope so what say the gov fund the retro fit of the central depot and restoration to preserve such an historic land mark? Then? we turn the whole thing into? hmm, well my trucker buddy and i could have a few levels for our coffe cup and flatware biz and then say the top 2 levels could be like,uh i don't know boutique dining,cafe or entertainment? the other levels? uh, garment manufacturing? we got rail right out the back door! we could totally revitalze the neigborhood. All that vacant land around there? the cool thing? the start ups get rent for free for 10 years just for occupying and preserving the land mark. heck ya never know might even be able to get rail service back to the area. Lofty i know but? America lost much of it's vision to greed and absolutely no level of honor...just think of all the vacnat landmarks rotting. I think it's a bad ass idea!!! detroit will never be the manufacturing jem it was in glory days but...
America had to start some where. Now? It's time to start over!!! I don't need to be piss rich i just need to make a living...
All this talk about sequester and budget cuts on our social safety net without any attention whatsoever to the root causes of this deficit fiasco make me sick to the stomach. Where is the passion to repeal free trade, to reinstitute pre-Reagan tax rates, to cut corporate tax-loopholes, corporate subsidies, and off-shore tax havens, or to prosecute wall street criminals for crashing the economy? This talk about punishing the weak and innocent while letting the rich bandits escape with their booty makes me want to puke. All these criminals should be rounded up and put on the next space probe to the sun. Hopefully we can work into the budget enough rocket fuel to carry the entire Republican Party and their Tea Party accomplices too.
if it was not for my relentless lofty ideals? you are right in respect to other things that "might" come of it but we really do need to be realistic about what has and is continuing to happen to AMerica. you know? The once great and powerful. That nation that once exported goods as opposed to importing them now. I really am sick of buying produce grown in mexico? sure when you look at it lots of good low paying menial jobs can be created. Wal Mart is a great example!! on another note? I have a bit of a love for the salton sea in cali. a desolate waste land for the most part yet the potential to be transformed into a cornacopia of agricultural wealth! I even thought i'd go into lemon farming if i could get funded? But? polotics, money and greed keep it from becoming an area so rich in agri that like the san joaquin valley could be a frikin gold mine of food and jobs for plenty of folks. As white as i am? if i could make a half way decent wage? i'd love to work part of the year to sup my income, being the guy who gets to trim the grape vines back after harvest. Greed and grid lock killed our once great nation. my sluthing on the salty sea point to water rigths issues in respects to the colorado river. but whose water is it anyway? theoretically? it's your and mine but some other jerk is the one capitalising on it hence so dies the salton sea...but wait theres more!!! i totally forgot. bring the salty sea back to life not only do you have agri abounding you can turn it back into the tourist destination it once aspired to be. Chaching!!
YUP! but not into the sun...send them into deep space so they know what cold really means!!
great topic today!!! seriously but if your from cali and travel the 5 as often as i do can anyone maybe tell me how much they squandered on that new gaurd rail running through a median 20-30 yards wide and why? just think about that an din the meantime i see pretty much every school on my way home getting a remodel? like i said, "ain't doing nothing for me 'cept pissing me off" i'd much rather my tax $$$s be spent educating the new generation of gadget gobbing goofs that are so dumbed down that when the day comes they do finally put the gadgets down and wonder why every job in america is a service job and they still live with mom and dad they wake up and realize some of us did actualy give shit!
This is getting old. This nation need cash flow to get our economy back. But all the big money is gone. Overseas. Unless these big corporations are forced to give it back, we're not going to go far as a nation. Republicans keep saying we need to bring back good paying jobs while at the same time they keep bashing unions.....So old.
dowdotica ~ Not only would the Sun be cheaper, but I'm pretty certain we would never see them again. The problem with deep space is what goes up, must come down. Not only do I never want to see these freaks again, I don't want to be responsible for them infecting another planet. Do you?
What's Boehner slurring about now? Did I hear him right....we are not going to raise the debt ceiling until root causes of ever increasing debt/spending, such as the unfunded Bush tax cuts, Cheney's unfunded wars, and the fact that less than 10% of total United States tax revenue currently comes from businesses.....all end. I thought that's what he said......once again.... "we are not going to raise the debt ceiling until the wealthy elite pay their fair share too."
Too bad the Democrats aren't playing offense and demanding this?????? It's called counter terrorism!
Willie the money is not "gone" it is there. The problem is, old white rich guys have it but have no confidence in your current government so they are afraid to spend it.
For example I am a Canadian and I would like to invest more in the US but there is a lot of uncertainty about what tax ramifications I would have to deal with. So I am waiting.
Your president is holding up thousands of jobs and billions of dollars with Keystone alone.
What happened to "Hope and change". They maybe should have said "Spend and spend". I am sure glad to see you guys starting to get pissed off though. I hope for you that things "change" soon so you can have some "hope"
If I was a Repub, I'd try and make the Obama administration look bad too, no matter what it took.
The latest chuckle I've had though is the stock market final recovery that took place not too long after the Obama re-election. Apparently, the wall street gang wouldn't wait another four years. Can you imagine what the market headlines would have been if Romney would have won? Now the record highs are page 2 news.
It's too late for Americans to afford to pay for American made goods of most varieties. I couldn't afford to pay $100 for blue jeans, $45 for a package of underwear, or $3000 for a computer or TV if they were made in the USA. Neither could most Americans. Our economy is hooked on imported Fruit of the Loom, Levies, shoes and Chinese electronic parts and assemblies. It has become a unified-world trading economy. It's a retailer's paradise, they are making mega-bucks off the imports - like thay always have.
American Politicians are just plain weak and bow to corporate bank lowlifes and wall street lowlifes.
If they want to do business here make them stop urinating were they sleep.
Both parties can be as bad as the other, but when one party threatens the flow.
This country needs a strong backbone of a congress for the people by the people.
Hold the economy hostage ? No more elected Republicans getting my vote.
You are far too kind, Thom. Boehner is misusing his "speakership" to appease the far right factions of his party while simultaneously pretending to serve his party -- and the American people he's ultimately responsible for. Wasn't it only three months or so ago that the C.B.O. announced the deficit had been reduced by some not-so-shabby amount? (You probably know the numbers--since it involves trillions -- my own brain couldn't record the amount. But it was clear from report the deficit has been reduced substantially under Obama.) As usual, Repub's continue to blather on about need for spending cuts and how we're leaving our children a legacy of debt they and their children's children will be forced to repay. They are continuing the game of obstruction here. Its end goal is to diminish Obama's Presidency -- if not drive it off a cliff. And for obvious reasons: Republicans are desperate in their denial that Reaganomics was NOT a disaster in spite of their "less taxes equals more incentive for business and growth" mantra going up in an 'inferno' when banks collapsed and the necessary bail-out ensued just prior to Obama taking office his first term. Now what do they do? Now what does the Republican Party stand for? A huge regrouping would have to take place in which Repub's would have to agree their base can no longer depend on "trickle down" as a viable platform in light of current events. Forget it! "Trickle down" has been the bread, butter, meat and marrow of the Republican platform -- its reason to be -- for over 40 years. What else is there for Republicans to "fight fo"r..or against.. now? Family values? Maybe go after 'Roe Vs. Wade, or combine F.V. with R.W. while stoking fears about the 2nd Amendment? How bout Democrats weak on defense... after successful assasination of Bin Laden? So I agree with you hook, line and sinker, Thom. But, even while calling them "economic terrorists" I still think you're being too nice.
I agree with you Thom, about organized Republican obstruction. I saw it play out on Cable TV, so I figure it must be...true...? ...well, I have the same impression as you, anyway. Re: Carlos L. Curbelo's comments on corporate hoarding: "...the corporate sector...because they're scared...there's so much uncertainty in the economy...because we have 17 trillion dollars in debt and noone knows what's going to happen and that keeps growing..." "...we have to establish an environment in this country where companies want to invest..." "... so you blame all of europe's woes on euro, not unsustainable social welfare programs (pension system, welfare state, tax system)...?" ...and you assert its the euro...? __________________________________ I don't know about that, one way or another...my guess would be both...here in the USA as well...framed by a spirit of contentious competition between interest groups rather than communication and competence we could accomplish if we can focus on those grounds where, somehow, our needs/interests intersect. Can we do that by demonizing/denegrating each other? How can uncertain investors see the value of supporting home-grown industries...what's to keep a global network of localized infrastructures from supporting prosperity worldwide? Is that really such a threatening thought? Thanks again to you and your team, Thom...may you find peace, good health and long life - for all the good works you do! In peace, k. allen
KEND, you babbleing oil baffoon...Take your loonies and your pipeline and ram them straight up your ass!!!
American's are pissed off, however, the Oil Industry is not the answer to our economic woes...Faaaaaaaaaaaar Far from it! The problem here in America is that for the past 33 years our Government has been aggressively hijacked by Corporate Terrorist...With their ideology; "Profit before People, by any means neccesary".
KEND, Do you know what ideology means? Do you understand the adverse impact that a"by any means necessary" agenda has on the world? "Life" is not cheap! There is waaaay more to life than trying to make a fast buck at the cost others wellbeing so that you can have more junk.
Big Oil is passé
Solar, Wind, Wave
without a doubt
The better way.
Oh don't you frett though KEND, you'll be worm food loooong before Oil is reduced to merely a goolish tail of greed and destruction from yester-years. Do, however, rest assured your darling grandchildren will live a "better way".
That is if your kids survive the next Terrorist Attack...Brought to you by Corporate America!
Personally, I think that we have dug ourselves so far into a hole ---
we will never emerge. Or, if we do come out of it --- I wonder if we, as a nation,
can survive.
Quote MMmmNACHOS:KEND, you babbleing oil baffoon...Take your loonies and your pipeline and ram them straight up your ass!!!
MMmmNACHOS ~ Thank you so much for that eloquent, poetic, short, and precise way of stating the feelings of us all. I don't think I could have said it better myself. Thank you also for a hearty, good morning laugh!
Keep up the great work!
Kend ~ Oil is obsolete! Its toxic and disgusting! They don't call it crude without reason. It must go! We've lived a millennia without fossil fuels and we need to return them to their underground grave for another millennia. Get over it!
dowdotica ~ I don't travel the 5 that much but I do a lot of driving. A good guardrail in the median is a good investment. They serve to stop a swerving vehicle from traveling into oncoming traffic. A head on collision at 130 mph will kill all occupants of both vehicles instantly; as well as, jeopardize other vehicles in the vicinity as well. Regardless of the causes of these accidents all people involved can be considered innocent victims. Modern guardrails are designed to lift and gently flip a vehicle out of control back onto it's side of the median. I don't have any problem investing any amount of money in this particular infrastructure. In this case, it is a matter of being better to have the guardrails and not need them then to need them and not have them.
Schools, on the other hand, I have mixed feelings. Although I am for investing in education as a priority, I share your feelings about investing in buildings over teacher, textbooks, and learning fundamentals. Why upgrade a building when it is occupied by substandard teachers, making substandard wages, who are forced to provide their own paper to photocopy lectures and homework on. It seems to me there should be a priority list in education spending where buildings and facilities take the lowest priority. After all, they cost the most and do the least in the educational process, right? Improving a facility does nothing to improve education. Providing students with the proper tools and highly skilled, motivated, and well compensated instructors does. Do you know that schools no longer provide text books? It would seem that President Kennedy wasn't the only victim of a shooter from a school textbook depository--so were the textbooks.
One of the difficulties is that PKresident Obama is being influenced by the financial interests to protect banking and investment houses' interests rather than the body politic, namely the "We the people", the lower 80%.
There are several indications that the "inflationophobes" are active and more concerned with the possibility of a rise in the discount rate of the Federal Reserve than they are in correcting the non-productive facilities withing ihte U.S. whkich causes the high unemployment and the lack of income tax revenue which would balance the budget. Misplaced emphasis is critical at this point.
Kend - Why would we want a pipeline that will increase the cost of fuel in the US? Paying more for energy to provide a couple hundred jobs seems like a fool's policy. Never mind, a fool's policy is a perfect fit to the republicans in Congress.
k allen -- Do you know of some time when there was not uncertainty in the economy? I think Thom's reason for the lack of investing is spot on. Thom says we need to increase the demand in the system.
I'm tired of listening to people cajole the corporations for being timid about investing. Investing in what? Without demand only a fool would invest in supply. That's just throwing money away. The bottom line to this problem is to increase demand. The only way to do that is to put money back in the pockets of consumers. The truth of the matter is that the wealthy don't want to let go of their money. It's not that they are "afraid" to invest in a uncertain economy; its that they are too greedy to share enough of their booty to fuel the economy. And then why should they? They have everything they need; except a way to justify their means. So what do they do, they make up a lie. "The economy is to unstable to invest in." As long as our Government Representatives want to buy into that lie this economy is only going to get worst. Why should our Representatives do anything else? After all, the only investment the wealthy are making with our money is to buy our Representatives. With money in their pockets, where is the motivation for them to do their jobs, raise taxes on the wealthy, and distribute it to the unemployed consumers. That is the only way to raise demand in this economy without reinstating import tariffs and bringing back American jobs.
It is amazing how simple our problems are and yet how hard they seem to be to solve. Since the Government seems determined not to even address the underlying issues of our economic woes it would seem to me to be a good idea to organize a very visible Citizen Task Force to present sound legislative directives to our Representatives that can be quoted in the news. There is no shortage of economists, bankers, business owners, lawyers, politicians, and college professors who could participate to lend credibility to this cause. Only by the public direct addressing of free trade and demand side economics, can we break the silence about the real solutions; and we can finally gin up popular support for real economic reform amongst the American voters. Public policy always follows public demand.
DAnneMarc -- I think we should always add the specificity of one of the most revealing, intentional lies of the Repugs. The total scam of the Reinhart-Rogoff study.
good point!
Max Keiser had some pretty interesting information in today's show (he starts off talking about the board game Monopoly). By the way, Max Keiser's studio, in London, overlooks London City Hall (the Dome), London Bridge, and Tower of London. His exact studio location is on one of the upper floors of the building at this location: 51 30 19.51, -0 04 48.01 (just enter that number with the spaces, comma, and minus sign in to the Google Earth Search and it will point right at his studio.
There are two nice Restaurants in that building...one called Gaucho and the other one called Dim T (where they serve Dim Sum, of course). The aerial view of that whole complex of buildings looks like if you held your forefinger and thumb, of your left hand, close together, and the three little fingers stick straight up. Max's studio is in the "fug U" finger..the middle finger (very symbolic I'd say) and also symbolic is that Max's studio is hovering over City Hall.
Very frightening, indeed!...Thom's report today on the toxic cesspool disaster at Cold Lake, Alberta, Canada should scare a lot of people, especially, in the central states where the pipeline runs through. It's scaring the crap out of me...and I live in Alaska, or maybe Chicago, maybe Semipalatinsk.
" the landscape is dead. It has been poisoned by a huge spill of 9.5 million litres of toxic waste from an oil and gas operation in northern Alberta, the third major leak in a region.."
" this is a long-standing spill that may have gone undetected for months,"
"...estimates of its size, which exceeds all of the major recent spills in North America..."
"Neither Apache nor Alberta initially disclosed the spill, which was only made public after someone reported it to a TV station late last week."
Anyway, here is a web site with pictures...
http://www.theglobeandmail.com/report-on-business/apache-pipeline-leaks-...
Obama was naive. He should have accepted the resignation of every US Attorney (93?) like every president before him did.
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'Reaganomics' - a rad party where everyone gets high as flying saucers on Red Bulls and coke only to hate life while crashing back to Earth the morning after. Listening to Republicans complain about how our improvement isn't fast enough tells me that things are about as good as they can be these days for Americans. As for me, I'm still dreading the results of my personal 'debt ceiling' consolidation to return from NASA. I think I need an aspirin. . What would happen if we gave dollars and cents their own 'Bill of Rights'? With one of the rights concerning enslavement.