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Fiscal Cliff Impending//GOP is Missing In Action

Discussion in 'Politics & Religion' started by earlpearl, Dec 27, 2012.

  1. Obamanation

    Obamanation Well-Known Member

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    #41
    Its pretty simple really. By raising taxes on the wealthy, Obama can give his political supporters working in government employee unions high upper middle class salaries. Those employees in turn provide Obama and the Democrats electoral victories. Obama in turn creates more regulations to assure the mega wealthy (whose taxes just went up) of less competition from small and emerging businesses. Symbiosis is probably a better word for it than balance. Perhaps protection money?

    I've noticed an obvious side effect. Those living in the D.C. area become automatic proponents of big government, as they get fat living off the table scraps of these backroom deals.
     
    Obamanation, Jan 3, 2013 IP
  2. Corwin

    Corwin Well-Known Member

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    #42
    I heard that a liberal's definition of "Fair" is "getting my way".
     
    Corwin, Jan 3, 2013 IP
  3. Obamanation

    Obamanation Well-Known Member

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    #43
    In all the gloom and doom of our failed president and his inability to lead our nation out of this debt crisis, there is one bright spot. Dr. Julian Zelizer of Princeton sums it up nicely in this article:

    After all the bluster and demagoguery, Obama took the rope-a-dope and made the Bush tax cuts permanent for everyone earning under $450k. It is something Bush himself could never have done against Democratic opposition in the Senate and House. Now that Obama can genuinely be accused of aiding and abetting Dubya in his tax cutting efforts, I suppose the Democrats are going to have to throw out all their fancy and misleading graphs that blamed the Bush tax cuts for the lions share of the deficit.

    Of course none of this addresses Obama's neglect to get spending under control, so yet another confrontation is brewing when, in two months time, our debt ceiling will have been reached and the sequester will once again kick in, so perhaps Obama will then capitulate and agree to cut federal spending. Or perhaps not.

    Today Moody's issued another downgrade warning. It was not a warning based on inability to compromise by House Republicans, as the left wing talking heads love to claim. This warning was specifically directed at the compromise just reached, and its failure to address the deficit. If in two months time the president once again tries to push through a new debt limit for his credit card without addressing spending, he will be able to proudly claim ownership of both the first and the second credit downgrade in US history. Congratulations Barry.
     
    Obamanation, Jan 3, 2013 IP
  4. Corwin

    Corwin Well-Known Member

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    #44
    Well, not exactly. Obama couldn't get a deal n a whorehouse with a bushel of $100 bills. Once again, Joe Biden got the deal because the Republicans listen to Biden, much to Obama's embarrassment.
    So, the Dems went back to Pelosi's last accepted offer of $400K, which the Republicans accepted, and raised it to $450K. Nice, it's an acceptable compromise.

    Except...

    This is exactly what Bloomberg TV was saying. And yesterday the consensus on Bloomberg TV was that, hey, Obama has received more money from Wall Street than all previous presidents COMBINED, and he is not doing what Wall Street wants, which is, address the deficit. The analogy is that under the present administration, the economy is a nice looking house with a rotten, termite-infested frame.

    It was strongly suggested that if this President doesn't seriously address the deficit before the end of February, Wall Street may force Obama to do something, in the same way that the European financial markets forced the European Union to address the EU debt crisis. Oh, what will Obama and Reid do without huge Wall Street campaign contributions? No more Democrat-friendly Wall Street SuperPacs?
     
    Corwin, Jan 4, 2013 IP
  5. Obamanation

    Obamanation Well-Known Member

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    #45
    It reminds me quite a bit of one of those episodes of American Greed that CNBC likes to air. I've watched quite a few of them, covering the misadventures of people like Bernie Madoff, and they always seem to play out the same narrative more or less.

    The guy(Obama/Washington) running the scheme goes about promising investors(taxpayers, bond purchasers) the world while living high on the hog on their money and paying them back "dividends" purely from their principal. As the money runs out, they scramble to get people(The Fed, Taxpayers) to infuse more and more cash into the system, just to perpetuate the illusion for as long as possible. Without fail, at some point the money runs out, either for failure to find enough new investors, or as existing investors start to smell something fishy and start asking to cash out. At that point, the entire house of cards that may have taken years to build collapses in little more than a day.
     
    Obamanation, Jan 4, 2013 IP
  6. Corwin

    Corwin Well-Known Member

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    #46
    Gee, you make it sound like Obama is running a Ponzi scheme...

    BTW, I like the show American Greed, too, except that the shows are twice as long as they need to be.
     
    Corwin, Jan 4, 2013 IP
  7. Obamanation

    Obamanation Well-Known Member

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    #47
    Well, it might be a bit of an exaggeration. Obama's scheme directly or indirectly employs 36% of our workforce, usually at wages double what is received in the private sector for the same work. Three people pay in to move one up the pyramid as well as pay out the meager dividend. Meanwhile, the system pays out 1.6 trillion dollars more than the folks at the bottom of the pyramid put in. Its magic!
     
    Obamanation, Jan 5, 2013 IP
  8. Corwin

    Corwin Well-Known Member

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    #48
    "pay to move up the pyramid" is Amway language. It's magic!
     
    Corwin, Jan 5, 2013 IP