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Gayle in MD
04-20-2011, 11:48 AM
Impossible to take the efforts seriously of negotiating any kind of deficit deal in context between the two parties when one side -- Republicans -- refuses to include the key component of tax increases, which would guarantee raising real revenues for the government in the discussion.
Republican leaders in the Congress said on Wednesday they would not support tax increases as part of a deficit-reduction plan.

Now Republicans compound that problem by not even sending a worthy negotiating team to the table:

The White House's proposed deficit talks with Congress appear to be unraveling before they've even begun.

House and Senate Republican leaders announced Tuesday that their sole appointees to the May 5th meeting would be House Majority Leader Eric Cantor (R-Va.) and Senate Minority Whip Jon Kyl (R-Ariz.)--neither of whom are budget leaders and both of whom function largely as political mouthpieces for their party. GOP leaders also each opted to send only one appointee, instead of the requested four, to the meeting.

The Democrats also sent in their B team to the table, but with Republicans (except, of all people, Tom Coburn) pledging to never increase taxes under any circumstances, it's hard to see the point of this exercise.

Matt Yglesias writes:

You have a government set to steadily increase spending on autopilot as a result of demographic change and rising health care costs. And you have a Democratic President urging congress to enact spending cuts. But you have conservative politicians refusing to make a serious effort to reach an agreement out of some blend of taxophobia and fear of giving the President a win. The result, again, whether the right realizes it or not, is a gift to the wing of the Democratic Party that disagrees with Obama about the desirability of enacting spending cuts.

It's still early in the game, but I'd rather do nothing at this point than give away the store to appease the Beltway media and deficit hawks who are crying for cuts in all our programs that we pay into which are our safety net as we get older. We are entitled to Social Security, we pay for it. And if being serious about the reducing the deficit is what Republicans are all about, then they should come to the table willing to actually make a bargain instead of only caring what Grover Norquist believes.


Washington Monthly:

For a bunch of conservatives who claim to be obsessed with debt reduction, far-right GOP leaders don't seem especially interested in actually working on the issue.

There's probably a good reason for this. As Matt Yglesias noted this morning, we have "conservative politicians refusing to make a serious effort to reach an agreement out of some blend of taxophobia and fear of giving the President a win." That sounds about right.

But whatever the motivation, the notion of Republicans agreeing to any kind of sensible compromise seems remote, if not ridiculous.

Durbin's Gang of Six has no real authority once they come out with their center-right plan, so I see as many Republicans as Democrats voting against their proposal anyway. When Bob Schieffer asks Paul Ryan to justify why he's against raising taxes for the rich to get a deal, you start to see the Beltway at least waking up incrementally.

Schieffer: I guess the question I would have, congressman, why do these rich people need another tax cut? I mean they’re already rich. They seem to be doing pretty well as it is now. Why cut their taxes some more?






Like Survivor, the alliances are beginning to form in advance of the first round of primary purges. And like leeches on a willing host, Sarah Palin and Michele Bachmann are aligning around front-runner Donald Trump.

It really is pathetic. Donald Trump, the unserious candidate of the century, needs his Big Buddy Hannity to save him from that mean ole George Stephanopoulis, after a particularly awkward interview on ABC's Good Morning America yesterday morning.

In classic horror movie fashion, Sarah Palin is the zombie rising yet again from the dark and murky corners. Her host this time? The Donald, of course.

I clipped this short excerpt about Trump, but in the full segment she goes on about how fortunate we all are that we have fair and balanced media so that candidates can be sure to control their message, and how glad she is for Facebook and social media to get her message out. Oh, happy day.

As usual, Palin and Hannity never really come out and say a certificate of live birth is a lesser document. They run this from two tangents. First, Palin claims that the Donald really wants to talk about serious issues like oil but GSteph keeps pushing the conversation back to his birtherism. Second, and offered in an almost offhand way as if to downplay it (but not really), Palin repeats the assertion that the president just hasn't answered this question directly. Because evidently producing this certificate of live birth which was acceptable for both of my children's passports, Social Security cards and drivers licenses, post-Patriot Act is simply inadequate in some ephemeral, undefined universe. Translation: We know it's really stupid but it's effective so we're going to keep flogging it.

They're all glomming onto the Iowa poll Rachel Maddow mentioned on her show tonight showing that 74% of Iowa Republicans think Barack Obama was not born in the United States, or they're not sure if he was. Take this poll for what it's worth. It was an automated poll, and the questions seem almost guaranteed to trigger responses that fit an expected outcome. Nevertheless, it encourages people like Donald Trump to keep...trumpeting, with Sarah Palin floating along on his purse strings coattails.

Later in the show, Michele Bachmann jumps on the bandwagon too. Why the heck not? It seems like the economy and international scene can be damned to these incredibly banal and worthless candidates in favor of a blowhard with a bad toupee' who wants to invade Middle Eastern countries and take their oil as bounty.

What is this nonsense? This has little to do with the threats to refuse to raise the debt ceiling. Wall Street wants austerity, damn it, and their handmaidens will do whatever they have to do to help them get it. Remember what Digby said: Eric Cantor has already said the GOP freshmen will vote to do it, and Democrats know it. So anything the Democrats insist they have to compromise is nothing but a cover story for what they already want to do.

There are multiple layers of converging interests here, so please, take everything with a large grain of salt:

The ratings agency Standard and Poor’s warned the United States on Monday that it could lose its coveted status as the world’s most secure economy if lawmakers don’t rein in the nation’s nearly $14.3 trillion debt.

S&P changed its outlook on the United States from “stable” to “negative” and said the federal government could lose its AAA rating if officials fail to bring spending in line with revenues.

Oh, yeah. Those guys:

NEW YORK -- The major credit rating agencies repeatedly sold out to Wall Street banks, so addicted to short-term profits that they sacrificed the accuracy of their reports to maintain a competitive edge, a two-year government investigation has concluded.

Rather than assess risk accurately, two major rating agencies sold their top seals of approval to their investment bank clients, blessing products that the agencies themselves knew to be undeserving, the Senate Permanent Subcommittee on Investigations concluded in a report released Wednesday. By repeatedly debasing their standards, these agencies helped banks sell shoddy securities to unsuspecting investors, inflating the value of assets that turned out to be worth far less, the report has found.

The senate panel, led by Carl Levin (D-Mich.) and Tom Coburn (R-Okla.), levels a two-part charge against the rating agencies: Not only did these companies help inflate a dangerous bubble, the report says, but they also bear responsibility for popping it, as their abrupt downgrades of mortgage-linked securities in 2007 helped set off the panic that caused markets around the world to collapse.

You'd think, considering the part played by Standard and Poors, Moody's and Fitch in covering up these stinking piles of crap inadvertently rating mortgage derivatives as sound and crashing our economy, they would have the good grace to shut up and sit down.

But since nothing happened to hold accountable any of these craven clowns, what possible incentive do they have to tell the truth? And what reason do we have to believe them? After all, they've already displayed their willingness to sell their ratings to the highest bidder.

<span style='font-size: 20pt'>Let me remind you that bankers actually like the recession. They like the falling wages and the weak job market. The only thing that really worries them is inflation, and only because it raises wages and depresses the value of their holdings. Don't trust anything that comes out of their mouths, or the feckless minions who sell their souls to them.</span>


http://www.crooksandliars.com

pooltchr
04-20-2011, 11:59 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">key component of tax increases, which would guarantee raising real revenues for the government </div></div>

How did that work out when you tried it in Maryland?

Steve

LWW
04-20-2011, 12:11 PM
Not convincing enough. Try this:

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body"><span style='font-family: Arial Black'><span style='font-size: 26pt'>Impossible to take the efforts seriously of negotiating any kind of deficit deal in context between the two parties when one side -- Republicans -- refuses to include the key component of tax increases, which would guarantee raising real revenues for the government in the discussion.
Republican leaders in the Congress said on Wednesday they would not support tax increases as part of a deficit-reduction plan.

Now Republicans compound that problem by not even sending a worthy negotiating team to the table:

The White House's proposed deficit talks with Congress appear to be unraveling before they've even begun.

House and Senate Republican leaders announced Tuesday that their sole appointees to the May 5th meeting would be House Majority Leader Eric Cantor (R-Va.) and Senate Minority Whip Jon Kyl (R-Ariz.)--neither of whom are budget leaders and both of whom function largely as political mouthpieces for their party. GOP leaders also each opted to send only one appointee, instead of the requested four, to the meeting.

The Democrats also sent in their B team to the table, but with Republicans (except, of all people, Tom Coburn) pledging to never increase taxes under any circumstances, it's hard to see the point of this exercise.

Matt Yglesias writes:

You have a government set to steadily increase spending on autopilot as a result of demographic change and rising health care costs. And you have a Democratic President urging congress to enact spending cuts. But you have conservative politicians refusing to make a serious effort to reach an agreement out of some blend of taxophobia and fear of giving the President a win. The result, again, whether the right realizes it or not, is a gift to the wing of the Democratic Party that disagrees with Obama about the desirability of enacting spending cuts.

It's still early in the game, but I'd rather do nothing at this point than give away the store to appease the Beltway media and deficit hawks who are crying for cuts in all our programs that we pay into which are our safety net as we get older. We are entitled to Social Security, we pay for it. And if being serious about the reducing the deficit is what Republicans are all about, then they should come to the table willing to actually make a bargain instead of only caring what Grover Norquist believes.


Washington Monthly:

For a bunch of conservatives who claim to be obsessed with debt reduction, far-right GOP leaders don't seem especially interested in actually working on the issue.

There's probably a good reason for this. As Matt Yglesias noted this morning, we have "conservative politicians refusing to make a serious effort to reach an agreement out of some blend of taxophobia and fear of giving the President a win." That sounds about right.

But whatever the motivation, the notion of Republicans agreeing to any kind of sensible compromise seems remote, if not ridiculous.

Durbin's Gang of Six has no real authority once they come out with their center-right plan, so I see as many Republicans as Democrats voting against their proposal anyway. When Bob Schieffer asks Paul Ryan to justify why he's against raising taxes for the rich to get a deal, you start to see the Beltway at least waking up incrementally.

Schieffer: I guess the question I would have, congressman, why do these rich people need another tax cut? I mean they’re already rich. They seem to be doing pretty well as it is now. Why cut their taxes some more?






Like Survivor, the alliances are beginning to form in advance of the first round of primary purges. And like leeches on a willing host, Sarah Palin and Michele Bachmann are aligning around front-runner Donald Trump.

It really is pathetic. Donald Trump, the unserious candidate of the century, needs his Big Buddy Hannity to save him from that mean ole George Stephanopoulis, after a particularly awkward interview on ABC's Good Morning America yesterday morning.

In classic horror movie fashion, Sarah Palin is the zombie rising yet again from the dark and murky corners. Her host this time? The Donald, of course.

I clipped this short excerpt about Trump, but in the full segment she goes on about how fortunate we all are that we have fair and balanced media so that candidates can be sure to control their message, and how glad she is for Facebook and social media to get her message out. Oh, happy day.

As usual, Palin and Hannity never really come out and say a certificate of live birth is a lesser document. They run this from two tangents. First, Palin claims that the Donald really wants to talk about serious issues like oil but GSteph keeps pushing the conversation back to his birtherism. Second, and offered in an almost offhand way as if to downplay it (but not really), Palin repeats the assertion that the president just hasn't answered this question directly. Because evidently producing this certificate of live birth which was acceptable for both of my children's passports, Social Security cards and drivers licenses, post-Patriot Act is simply inadequate in some ephemeral, undefined universe. Translation: We know it's really stupid but it's effective so we're going to keep flogging it.

They're all glomming onto the Iowa poll Rachel Maddow mentioned on her show tonight showing that 74% of Iowa Republicans think Barack Obama was not born in the United States, or they're not sure if he was. Take this poll for what it's worth. It was an automated poll, and the questions seem almost guaranteed to trigger responses that fit an expected outcome. Nevertheless, it encourages people like Donald Trump to keep...trumpeting, with Sarah Palin floating along on his purse strings coattails.

Later in the show, Michele Bachmann jumps on the bandwagon too. Why the heck not? It seems like the economy and international scene can be damned to these incredibly banal and worthless candidates in favor of a blowhard with a bad toupee' who wants to invade Middle Eastern countries and take their oil as bounty.

What is this nonsense? This has little to do with the threats to refuse to raise the debt ceiling. Wall Street wants austerity, damn it, and their handmaidens will do whatever they have to do to help them get it. Remember what Digby said: Eric Cantor has already said the GOP freshmen will vote to do it, and Democrats know it. So anything the Democrats insist they have to compromise is nothing but a cover story for what they already want to do.

There are multiple layers of converging interests here, so please, take everything with a large grain of salt:

The ratings agency Standard and Poor’s warned the United States on Monday that it could lose its coveted status as the world’s most secure economy if lawmakers don’t rein in the nation’s nearly $14.3 trillion debt.

S&P changed its outlook on the United States from “stable” to “negative” and said the federal government could lose its AAA rating if officials fail to bring spending in line with revenues.

Oh, yeah. Those guys:

NEW YORK -- The major credit rating agencies repeatedly sold out to Wall Street banks, so addicted to short-term profits that they sacrificed the accuracy of their reports to maintain a competitive edge, a two-year government investigation has concluded.

Rather than assess risk accurately, two major rating agencies sold their top seals of approval to their investment bank clients, blessing products that the agencies themselves knew to be undeserving, the Senate Permanent Subcommittee on Investigations concluded in a report released Wednesday. By repeatedly debasing their standards, these agencies helped banks sell shoddy securities to unsuspecting investors, inflating the value of assets that turned out to be worth far less, the report has found.

The senate panel, led by Carl Levin (D-Mich.) and Tom Coburn (R-Okla.), levels a two-part charge against the rating agencies: Not only did these companies help inflate a dangerous bubble, the report says, but they also bear responsibility for popping it, as their abrupt downgrades of mortgage-linked securities in 2007 helped set off the panic that caused markets around the world to collapse.

You'd think, considering the part played by Standard and Poors, Moody's and Fitch in covering up these stinking piles of crap inadvertently rating mortgage derivatives as sound and crashing our economy, they would have the good grace to shut up and sit down.

But since nothing happened to hold accountable any of these craven clowns, what possible incentive do they have to tell the truth? And what reason do we have to believe them? After all, they've already displayed their willingness to sell their ratings to the highest bidder.

Let me remind you that bankers actually like the recession. They like the falling wages and the weak job market. The only thing that really worries them is inflation, and only because it raises wages and depresses the value of their holdings. Don't trust anything that comes out of their mouths, or the feckless minions who sell their souls to them.</span></span>


http://www.crooksandliars.com </div></div>

Sev
04-21-2011, 07:47 AM
Dont forget QE2 is ending in July and they expect some chaos in the bond market.

Gas prices may be beyond the $5.00 mark if projections continue. OPEC has cut back on production.

As people cant afford to drive expect tax revenues for gas to drop in both the states and at the fed.

Increased energy costs will slow any recovery and possibly lead to a new wave of layoffs.

By July the latest wave of foreclosures should be in full swing further depressing the housing market.

LWW
04-21-2011, 02:09 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sev</div><div class="ubbcode-body">Dont forget QE2 is ending in July and they expect some chaos in the bond market.
</div></div>

You are preaching to the choir brother.

The sad thing is that the Obamatrons think QE2 is a big boat.

Sev
04-21-2011, 02:21 PM
Check I believe AP.
Government handouts now exceed revenue.

Nothing good can come of that.

Oh and only 45% of the population is now working.