The basis for the Biden Administration:
“Necessity is the plea of every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves.” – William Pitt.
The blog that NOBODY reads... but everyone gets upset about. The stories we want to read the least... but the ones we need to read the most.
Monday, August 01, 2011
John McCain on the idiotic debt ceiling rip off: "The markets will approve."
.
Which must explain perfectly why the market's off 150 or so, so far today.
And that's why I didn't vote for McCain or anyone else for President.
The Institute for Supply Management's manufacturing index slid to 50.9 in July -- much worse than the level of 54 that economists were expecting, and down from 55.3 in June.
What? Why, this was SUPPOSED to be the legislative equivalent of the Second Coming of Christ and ONE manufacturing index on one day was hammering the market like a gong?
I guess I have to disagree.
I'm not the only one that knows what's happening here... the "cuts" that aren't cuts, the book keeping gimmickry, the fact that this won't even be a zit on Congress's collective behind a year from now... and the fact that our debt is increasing at a stratospheric rate, undeterred by the reality and approach of the rapidly appearing cliff.
Today's farce does not begin to fix the issues confronting us, and I have no faith or reason to believe that Congress has the testicular fortitude to make the cuts we need NOW to bring our financial house back into order.
We have this massive and ever-increasing deficit because Congress wants it. And if Congress wanted us to be fiscally healthy, that's what we would be.
Behind closed doors, Democrats have to be overjoyed with this.
They get their debt limit increase and in fact, actually get two increases this year.
Those cuts? Don't hold your breath, you'll never see any substantial cuts to anything, except defense.
The commission? They will push for tax increases and once a gain spineless GOP will cave and then, once it is seen the taxes hurt, the GOP will be blamed.
3 comments:
The Institute for Supply Management's manufacturing index slid to 50.9 in July -- much worse than the level of 54 that economists were expecting, and down from 55.3 in June.
That's why.
What? Why, this was SUPPOSED to be the legislative equivalent of the Second Coming of Christ and ONE manufacturing index on one day was hammering the market like a gong?
I guess I have to disagree.
I'm not the only one that knows what's happening here... the "cuts" that aren't cuts, the book keeping gimmickry, the fact that this won't even be a zit on Congress's collective behind a year from now... and the fact that our debt is increasing at a stratospheric rate, undeterred by the reality and approach of the rapidly appearing cliff.
Today's farce does not begin to fix the issues confronting us, and I have no faith or reason to believe that Congress has the testicular fortitude to make the cuts we need NOW to bring our financial house back into order.
We have this massive and ever-increasing deficit because Congress wants it. And if Congress wanted us to be fiscally healthy, that's what we would be.
And even after all of this, we're not.
And that is disheartening and despicable.
Behind closed doors, Democrats have to be overjoyed with this.
They get their debt limit increase and in fact, actually get two increases this year.
Those cuts? Don't hold your breath, you'll never see any substantial cuts to anything, except defense.
The commission? They will push for tax increases and once a gain spineless GOP will cave and then, once it is seen the taxes hurt, the GOP will be blamed.
It's all smoke & mirrors.
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