What happened to all of the doom and gloom economic threads?

[NeverEndingMe]

What, they don't like the idea that Boner signed onto a deal that creates a congressional commission that nullifies the Republican majority?

a couple things in the deal worry me. the fact that the democrats want a simple debt ceiling increase is nuts!

we don't need more spending!

no one gets rich by spending money (sure welfare people do as they collect other people's money)

 

[unregistered]

 

[koalabear]

Whoop-de-doo...


"Of the $917 billion in discretionary cuts on the table now, only $7 billion occur in this fiscal year. Another $3 billion will be cut in next year's budget from 2010 spending levels. That's certainly a cut when compared to typical year-to-year spending increases that take inflation into account. But it also makes the deficit-reduction target in the out-years considerably larger than most House Republicans would prefer. In essence, Obama won a $900 billion debt ceiling increase for $10 billion in hard cuts over two years - with half coming from defense."

http://www.theatlantic.com/politics/archive/2011/08/inside-the-debt-deal-who-won-who-lost/242859/

If they really want to increase revenue, close the IRS and go to a National Sales Tax. But the you would be cutting the fat cats out of their money.

 

[eyer]

Wait a minute...

...wasn't getting a bill to raise the debt ceiling, which we were constantly (but erroneously) schooled would prevent the first government default in history, supposed to convince and assure a doubting market to rebound?

What's going on?



Even with such a compromised agreement, "the pain" is intensifying...

...and it will continue to do so because the bottomless, socialist well we've wholeheartedly jumped into is a liberty-stifling, dark dank place, indeed.

Before one can even fantasize about removing her/himself from the predicament they're in, one must truly understand the predicament itself and then consciously decide they want no part of it.

Only then does recovery become even a possibility...

 

[koalabear]

Wait a minute...

...wasn't getting a bill to raise the debt ceiling, which we were constantly (but erroneously) schooled would prevent the first government default in history, supposed to convince and assure a doubting market to rebound?

What's going on?



Even with such a compromised agreement, "the pain" is intensifying...

...and it will continue to do so because the bottomless, socialist well we've wholeheartedly jumped into is a liberty-stifling, dark dank place, indeed.

Before one can even fantasize about removing her/himself from the predicament they're in, one must truly understand the predicament itself and then consciously decide they want no part of it.

Only then does recovery become even a possibility...

You just transfer the debt to another credit card.

 

[busybody..]

A MIRACLE

Wisconsin’s Economic Miracle: Goes From $3 Billion Deficit To $300 Million Budget Surplus Thanks To GOP Gov. Scott Walker…


(PJM) — Over the past six months, Wisconsin has been nothing short of a miracle. Newly elected Governor Scott Walker and the Republicans in the majority in Madison got just about everything they wanted during the past legislative session, and a state facing a projected $3 billion budget shortfall with no end in sight now has a projected $300 million budget surplus. The amazing successes in Wisconsin have emboldened the legislatures and political leaders of other states, who have seen the wonders resulting from a little political backbone and fiscal common sense.

After being held hostage by 14 AWOL Democrat senators, Walker succeeded in passing his budget repair bill, “Act 10,” which instantly fixed the $137 million deficit by requiring public employees to contribute just a little bit toward their pensions and health care, and by limiting their ability to collectively bargain. Wisconsin also ended the ludicrous automatic pay and benefit increases for public employee unions each budget year — closing a cash sinkhole which is eating states like California and Illinois alive. Last month the Wisconsin legislature passed its biennial budget, which Governor Walker promptly signed in a no-frills ceremony.

The repeal of much of Wisconsin’s collective bargaining law has already improved the quality and lowered the cost of Wisconsin government exponentially. There are approximately 275,000 government employees in the state of Wisconsin. About 72,000 such employees work for the state, 38,000 for cities and villages, 48,000 for counties, 10,500 (full time equivalent) for technical colleges, and 105,229 for schools.

 

[busybody..]

Meanwhile

NIGGER

Still

Intent

On

DESTRUCTION​

Obama Tells His Liberal Base: Next Time We’ll Get Our Economy-Crushing Tax Hikes…


Sorry to be the bearer of bad news, Barry, but there won’t be a next time.

(TPM) — President Obama admitted in a video message the debt deal is “far from satisfying,” but he comforted supporters by suggesting they won’t get rolled as badly the next time around.

Under the White House’s agreement with Republican leaders, the bulk of its deficit reduction would be determined by a bipartisan commission that must either pass a second package in Congress this year or trigger automatic cuts to defense and Medicare. Obama said this group would be critically important to achieving Democrats’ ultimate goal of higher taxes on the wealthy to help cover the budget gap.

“I’ve said from the beginning that the ultimate solution must be balanced. Big corporations and the wealthiest Americans shouldn’t be exempt from kicking in,” he said. “That’s just fair.”

He concluded: “This chapter is over. But that work and that debate continues.”

 

[busybody..]

NIGGER-OM-ICKS

My sig says it all!

 

[koalabear]

Debt deal rally fails, stocks drop

Updated: 08/01/2011 02:13 ET
DOW 12,046.44 -96.80

Stocks plunge as manufacturing growth stalls
The Dow loses all of a 139-point gain after a surprising drop in the Institute for Supply Management's manufacturing index stuns traders. Gold moves higher. Crude oil falls.

http://money.msn.com/market-news/post.aspx?post=1259ea54-f4c0-4de7-9b8e-373b59756537

 

[busybody..]

so

NIGGERETTE still can afford $500 sneakers to serve lunch at the HOMELESS SHELTER

 

[NeverEndingMe]

Debt deal rally fails, stocks drop

Updated: 08/01/2011 02:13 ET
DOW 12,046.44 -96.80

Stocks plunge as manufacturing growth stalls
The Dow loses all of a 139-point gain after a surprising drop in the Institute for Supply Management's manufacturing index stuns traders. Gold moves higher. Crude oil falls.

http://money.msn.com/market-news/post.aspx?post=1259ea54-f4c0-4de7-9b8e-373b59756537

we need more spending

 

[koalabear]

Dow off 11 as stocks rebound from steep plunge

The blue chips lose a 139-point gain after a surprising drop in a key manufacturing index, then recover most of their 145-point loss. But the euphoria from Sunday's debt-ceiling deal is gone. Gold and crude oil finish lower.

 

[mercury14]

a couple things in the deal worry me. the fact that the democrats want a simple debt ceiling increase is nuts!

we don't need more spending!

no one gets rich by spending money (sure welfare people do as they collect other people's money)

Yes. Because Wal-Mart doesn't make any money from government spending on food stamps.

 

[busybody..]

Yes. Because Wal-Mart doesn't make any money from government spending on food stamps.

LOSER

NIGGER

PROTECTOR​

PS, How is LIB! YEAH working out for NIGGER?

 

[koalabear]

Yes. Because Wal-Mart doesn't make any money from government spending on food stamps.

Moron.

 

[unregistered]

 

[RobDownSouth]

Please, somebody jam a big dick in Pelosi's mouth so we don't have to endure her one minute of BS.

Another day, another Vettebigot forced-sex fantasy.

 

[IrezumiKiss]

Please, somebody jam a big dick in Pelosi's mouth so we don't have to endure her one minute of BS.

I know this is a site for amateur erotica, but you really need to flesh out your form a bit in your flash fiction.

 

[unregistered]

 

[unregistered]

 

[RobDownSouth]

Another day, another RubDownSow stentorian oink.

"fat" jokes, "dick" jokes and "scat" jokes.... 5th grade was the best year of your life, wasn't it.

 

[unregistered]

 

[Frisco_Slug_Esq]

Bad news for Obama.

Even his press "gets" it...

Friday's news on GDP shows the double dip has arrived — an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will make it worse.

The U.S. has entered a second recession. It may not be as bad as the first. Economists say that the Great Recession began in December 2007 and lasted until July 2009. That may be the way that the economy was seen through the eyes of experts, but many Americans do not believe that the 2008-2009 downturn ever ended. A Gallup poll released in April found that 29 percent of those queried thought the economy was in a “depression” and 26 percent said that the original recession had persisted into 2011.

It is any wonder that many Americans believe that the economic downturn is still in progress? Home prices have fallen to 2002 levels. Values have dropped nearly 50 percent in parts of Florida, California, Nevada and Arizona. Property values are also down that much in parts of troubled big cities like Detroit. Estimates are that as many as 11 million homes have underwater mortgages. Banks have inventories of as many as 2 million foreclosed homes which have not even been released to the market. Home prices could fall another 10 percent if current trends persist.

Perhaps the most powerful argument that the recession never ended or that a new one has begun is the persistence of unemployment. Fourteen million people are out of work. A third of those have been jobless for more than a year. May employment data showed the jobless rate rose unexpectedly and that the economy added only 58,000 jobs. Experts believe that the unemployment rate will not improve significantly until the monthly gain in jobs is consistently 300,000 jobs or more. And, at that rate the gains would have to go one for more than two years to bring the economy back to what is traditionally considered a reasonable unemployment figure.

There are several signs that a recession is firmly in place again and that the downturn could last for several quarters. Most are already easy for the average American to see.

10 Signs:
http://www.msnbc.msn.com/id/43946055/ns/business-us_business/

Okay U_D you kept crowing, "WHERE'S THE DOUBLE DIP YOU RIGHT-WING LIARS AND LOONS KEPT CALLING FOR???"

We could be in a Depression, again, patiently, this is the pattern, brief upturns falling back into stagnation...

 

[Frisco_Slug_Esq]

Sen. Dick Durbin, the liberal lion from Illinois, pronounces the debt deal “the final internment of John Maynard Keynes.”

The burial ceremony should be a nice, simple one after the violence done to the aged economist by the failure of the broad Obama stimulus program. The administration’s serial overpromising in his name did more to discredit Keynes than a century’s worth of broadsides by his intellectual enemies.

Nearly three years into the Obama administration, the unemployment rate is more than 9 percent, a grassroots movement devoted to cutting government has the upper hand in the House of Representatives, and the debt of the United States could well be downgraded by Standard and Poor’s. If Durbin thought that in these circumstances Keynes was heading anywhere other than a pine box, he hasn’t been paying attention.

The debt deal is austerity designed by committee. It’s late. It’s needlessly complex. It’s inadequate to our challenges and may not prove particularly functional. But it’s austerity. That a Washington with a Democratic Senate and president has to go through the exercise of at least appearing to cut $2.1 trillion from the deficit with no guaranteed tax increases is a humiliating reversal for Keynes’s self-appointed heirs.

Every time Washington has a showdown, pundits and presidential historians gather on TV sets to lament the breakdown of our governing institutions and the end of compromise. But Congress is still perfectly capable of splitting differences. The debt deal gives a little something to all the major players in a jerry-built, two-part increase in the debt limit coupled with an initial $900 billion agreed-upon cut and at least a $1.2 trillion cut TBD.

House speaker John Boehner gets less spending. Senate minority leader Mitch McConnell gets his cute trick of letting Congress disapprove a second debt extension while still giving it to Pres. Barack Obama. Senate majority leader Harry Reid and President Obama get a debt extension past the 2012 election and a special committee that could possibly recommend tax increases.

Washington doesn’t lack for the ability to cut such clever deals; it lacks the collective will to transform the entitlement state. So, it perpetually kicks the job over to a commission. Last year, the Bowles-Simpson commission released a report that President Obama promptly filed away in a drawer in the Resolute Desk. Now, the debt deal creates an all-new special committee to find the unidentified $1.2 trillion second round of cuts.

Rich Lowry
NRO

 

[Frisco_Slug_Esq]

And how does BIG OIL protect itself from the looters?

FORTUNE -- The announcement last month that ConocoPhillips plans to break up into two separately traded companies took Wall Street by surprise, raising uncomfortable questions as to Big Oil's raison d'etre. If COP proves that it can indeed unlock value from separating its exploration and production unit from its refining and marketing units, then other companies, namely BP and ExxonMobil, could soon find themselves under pressure from their shareholders to follow suit, forever changing the energy landscape.

By becoming small oil...

http://finance.fortune.cnn.com/2011...eed:+rss/magazines_fortune+(Fortune+Magazine)