Olbermann on the debt deal

[Windpower]

I think he nails it pretty well

http://www.youtube.com/watch?v=ndkRgj6j-Pg&feature=player_embedded

[RIjake]

Typical olberman drivel, It's always the Republicans fault.   

[HoustonDave]

I dunno WP, pseudo-journalists like Olbermann and Limbaugh make my teeth hurt....

[OlJarhead]

I think he nails it pretty well

http://www.youtube.com/watch?v=ndkRgj6j-Pg&feature=player_embedded

Sorry, he's an ass.

Blaming Bush for this mess is naive, immature and uninformed not to mention uneducated.  Not withstanding the massive debt increase of about FIVE TRILLION DOLLARS under Obama anyone blaming Bush is forgetting Clinton, Bush Sr, Regan, Carter and all the others dating back to FDR himself.  And Let's not forget Wilson and Roosevelt (Teddy) too.  Seriously!

FDR and NIXON for their species money changes and Wilson for his FED are a better place, far better place, then even Obama.  After all, with specie money he could not simply print more -- oh wait, we don't print money, the FED does -- Yikes!

Olberman is a pompass partisan ideologue however he does have some points I agree with -- the hypocrisy for one.  Coming from BOTH SIDES of this debate.,

Frankly the Democrats AND Republicans caused this mess and the sooner the American people stop taking sides -- those sides that is -- the sooner we'll find our way out of this mess.  And finding our way out does not include more taxes, more spending or more debt but rather fiscal sanity and cutting the size and scope of Government.

While people ran about claiming one nonsensical end of the world scenario after the other about this debt deal and it's debate I heard NOT ONE politician or pundit mention ANY of the truly 'non-essential' spending that could be cut.  Every single option involved INCREASED SPENDING...there were no cuts...I repeat, there were no cuts.

The only people that believe there were cuts also must believe in the tooth ferry but for their sake (there may be kids reading here) reducing proposed future spending that you have no control over after promising to raise spending before proposing spending and then calling that 'cuts' is nothing short of outright lying, cheating and stealing.

Heck, i think the worst car salesmen out there have more integrity then that!  Imagine walking onto a car lot and having the salesman tell you that he just cut $20,000 dollars off the price of the truck you are looking at which has a pricetag of $50,000 which is of course already above suggested retail...would you buy it?  Well you just did folks because that salesman meant that he was going to sell you the truck for $70,000 but CUT $20k from the price.....

No need to mention he raised the price 7% from last year....DOH....seriously folks.

Olberman is an ass but the debt deal is worse.

[fishing_guy]

   We have a balanced budget agreement here in Minnesota.  I love it.  It came in part because of the willy nilly taxing of our state government.  It is an attempt to reign in spending to a sustainable level.

The thing that gets me is that guys like Keith Olbermann ARE part of the rich...and yet they rally against themselves.  Talk about hypocrisy.
They are all about protecting the poor, yet they make a pretty penny.

What they don't understand is that people have different wants and needs in their lives.  It isn't all about money, at least for me.  I have made choices in my life that have limited my income potential.  Does that mean I should rely on someone else to fund my lifestyle?

I  realize that there are people who do need help.  I have absolutely no problem with that.  But at some funding level, I have fulfilled my obligation to society and feel no further obligation.  Food, shelter and clothing, yes.  Transportation, somewhat.  A bedroom for each child...probably not.
We had an accident this weekend at a low income high rise.  A terrible tragedy where an 11 month child fell out a 9th story window.  On the news, they has several of the residents saying the government should have prevented this.  I'm sorry.  They have locks on the windows and screens in place.  Maybe placing your bed right in front of the window isn't the best location...

At some point we have to stop relying on the government to save us.  We have to be smarter than that.  

Look at the building codes.  Meant to protect us from ourselves.  Many on this forum who have built have "over engineered" their buildings. That is, they took it upon themselves to make sure their buildings were stout and safe...
For that matter, look at Glenn's safety vest...much more noticeable (or should I say unforgettable?) than the government approved flammable one...

Sorry about the rant, but with another election cycle just a few months away, I had to vent before my head explodes...

[Windpower]

"The thing that gets me is that guys like Keith Olbermann ARE part of the rich...and yet they rally against themselves.  Talk about hypocrisy."

http://www.celebritynetworth.com/richest-celebrities/keith-olbermann-net-worth/

$25 million

not rich by today's celebrity levels

Adam Sandler is at $300 million

Jerry Seinfeld at $800 Million

http://www.celebritynetworth.com/richest-celebrities/richest-comedians/jerry-seinfeld-networth/

or Ashton Kutcher

http://www.celebritynetworth.com/richest-celebrities/actors/ashton-kutcher-net-worth/

$140 Million


$25 million net worth is nice but I know personally several people in the range -- comfortable -- you bet -- rich
not really

But the important this is we just were left with even less representation in congress

The insidious thing about the 'deal' is the gang of 12 that will run the country -- leaving the rest of the decetful congress un accountable

...what if the 12 decide to ban ammunition they don't like --- no debate, just a yes or no from our Reps

think about it

[rwanders]

Windpower, How would the statute that directs them to identify budget cuts, and potential revenue (taxes) empower them to enact gun/ammunition regulations?

Can you find specific information such as paragraph # and Line  #'s from the bill's language that contains that delegation of power?

Thanks, RW

[fishing_guy]

"The thing that gets me is that guys like Keith Olbermann ARE part of the rich...and yet they rally against themselves.  Talk about hypocrisy."

http://www.celebritynetworth.com/richest-celebrities/keith-olbermann-net-worth/

$25 million

not rich by today's celebrity levels

Adam Sandler is at $300 million

Jerry Seinfeld at $800 Million

http://www.celebritynetworth.com/richest-celebrities/richest-comedians/jerry-seinfeld-networth/

or Ashton Kutcher

http://www.celebritynetworth.com/richest-celebrities/actors/ashton-kutcher-net-worth/

$140 Million


$25 million net worth is nice but I know personally several people in the range -- comfortable -- you bet -- rich
not really

But the important this is we just were left with even less representation in congress

The insidious thing about the 'deal' is the gang of 12 that will run the country -- leaving the rest of the decetful congress un accountable

...what if the 12 decide to ban ammunition they don't like --- no debate, just a yes or no from our Reps

think about it

According to the US census in 2004 his net worth would put him well into the top 12% of the population(1).  That is well into the bracket that Democratic leaders want to tap into...and seem to despise. 
(1) http://www.census.gov/hhes/www/wealth/2004/wlth04-4.html

As far as the gang of 12 goes, I agree that it is a bad idea, but I like the idea of the poison pill cuts.
It used to be that 1 person would work and the other could stay home.  It now takes 2 people working and if they keep upping the taxes, it'll take 1 person working 2 jobs just to keep up...

[OlJarhead]

It's a joke my friend.  There are no cuts in this deal.  You can't 'propose' to raise spending and then cut your proposed spending to 7% higher then previous spending and actually call that a cut.

2010 Budget was $3.6 TRILLION
2011 CR (sorta budget since they never passed one) is $3.8 TRILLION

So the so called $38 billion in 'cuts' the gave us this year netted an INCREASE of $200 BILLION in spending.

http://news.goldseek.com/EuroCapital/1312224589.php

Bottom line is that the deal ensures a minimum of 7% annual INCREASED spending.

[Squirl]

Bottom line is that the deal ensures a minimum of 7% annual INCREASED spending.

Welcome to the baby boom generations retirement.  That just happens to be the amount increase spending in Social Security, Medicare, and Medicaid.  We could always just end Social Security and we would all get an extra 15% in our paychecks.  I don't see that happening any time soon.  Just ask the over 55 population that votes.

[Windpower]

You are exactly correct OLJ

there are no cuts, just increases

You are welcome to read the text too RW

but as usual you are asking me to spoon feed you

since this committee of twelve has an absolute lock on Federal taxes --- hmmm let's speculate about a tax on amunition (as Obama advisors have already talked about )

think of how much revenue they could raise with just a dollar per round of excise tax on -- oh yeah, evil hand gun rounds..... to start



http://thomas.loc.gov/cgi-bin/query/F?c112:3:./temp/~c112wj5AHq:e1785:

`(B) CONTINUING DISABILITY REVIEWS AND REDETERMINATIONS- (i) If a bill or joint resolution making appropriations for a fiscal year is enacted that specifies an amount for continuing disability reviews under titles II and XVI of the Social Security Act and for the cost associated with conducting redeterminations of eligibility under title XVI of the Social Security Act, then the adjustments for that fiscal year shall be the additional new budget authority provided in that Act for such expenses for that fiscal year, but shall not exceed--

`(I) for fiscal year 2012, $623,000,000 in additional new budget authority;

`(II) for fiscal year 2013, $751,000,000 in additional new budget authority;

`(III) for fiscal year 2014, $924,000,000 in additional new budget authority;

`(IV) for fiscal year 2015, $1,123,000,000 in additional new budget authority;

`(V) for fiscal year 2016, $1,166,000,000 in additional new budget authority;

`(VI) for fiscal year 2017, $1,309,000,000 in additional new budget authority;

`(VII) for fiscal year 2018, $1,309,000,000 in additional new budget authority;

`(VIII) for fiscal year 2019, $1,309,000,000 in additional new budget authority;

`(IX) for fiscal year 2020, $1,309,000,000 in additional new budget authority; and

`(X) for fiscal year 2021, $1,309,000,000 in additional new budget authority.

[Windpower]

Federal Budget 101 & Catherine's Response
Catherine, News & Commentary on August 4, 2011 at 4:08 pm By: David Thomas
Chief Executive Officer
Equitas Capital Advisors LLC

The U.S. Congress sets a federal budget every year in the trillions of dollars. Few people know how much money that is so we created a breakdown of federal spending in simple terms. Let's put the 2011 federal budget into perspective:

U.S. income: $2,170,000,000,000
Federal budget: $3,820,000,000,000
New debt: $ 1,650,000,000,000
National debt: $14,271,000,000,000
Recent budget cut: $ 38,500,000,000 (about 1 percent of the budget)
It helps to think about these numbers in terms that we can relate to. Let's remove eight zeros from these numbers and pretend this is the household budget for the fictitious Jones family.


Total annual income for the Jones family: $21,700
Amount of money the Jones family spent: $38,200
Amount of new debt added to the credit card: $16,500
Outstanding balance on the credit card: $142,710
Amount cut from the budget: $385
So in effect last month Congress, or in this example the Jones family, sat down at the kitchen table and agreed to cut $385 from its annual budget. What family would cut $385 of spending in order to solve $16,500 in deficit spending?

more here


http://solari.com/blog/?p=13316

[rwanders]

Windpower---I have no argument with your, and other's take on the bogus cuts----we will have a chance to treat the political class to another dose in the 2012 election. Hope we take opportunity to give Congress and Obama a real enema----wash some more s____ out of those clowns.

Think your ammunition point is a pretty big extrapolation. The "twelve" will be quite skittish enough about their task without adding an explosive issue like gun control. No matter what they do, they will be roundly attacked from all sides. Think they will be tempted to pile all the other really divisive issues to the mix---maybe abortion, the wars, regulation overload---maybe repeal of ObamaCare too?  Perhaps they can take us out of the UN too----cut them out of our budget.  Paranoia has its' place and usefulness but, sometimes it just gets crazy. Plenty of legitimate fears, doubts about the ability of the twelve to do anything useful without pure speculation. They will be intent on finding some political cover--doubt if they will have stomach for walking into a bigger fire storm then what awaits them now. You will never lose money betting on the political cowardice of members of congress.

[Native_NM]

I quit reading after the word "Olbermann"....

[StinkerBell]

 More simpler terms here....

‎"If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, and are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget and debt, reduced to a level that we can understand." ~ Dave Ramsey

[Windpower]

Dave Ramsey

on target as usual