I think *some body* is trying to fool *someone* around here…
Got that right Claire.
I think somebodies think we’re stupid and can’t do arithmetic.
While that’s prolly true for any American who graduated high school in the past 20 years or came here illegally, it’s not for most Americans, many of whom have risen above arithmetic and can actually do some math, yannow, percents and future values and stuff.
$1,200 billion+ debt increase per year, and $450 billion+ per year interest payment on the debt says collecting another $80 billion or Uhbama’s $160 billion per year, or even taking everything the (pick your percent) make every year is a spit in the ocean.
Until somebodies get serious, I mean break your-heart-piss-off-most-of-the-country serious, about cutting spending, any talk is a Kabuki dance.
Ed. note: After the initial shock of massive spending cuts, including heavily chopping of Fed agency budgets, regulations and personnel layoffs, tax revenues would increase. (hint hint) Nevermind, I’m shouting into an empty room, pissing into the wind; I’m slouching back to my bunker now.
Claire – you should be a columnist for NYT and save that rag’s vanishing circulation.
Comment by dick, not quite dead white guy — December 9, 2012 @ 11:54 am
^^#9 and stuffing their mattresses with what ever they have left. I said b/4 we went over the cliff 4 years ago and there is no bottom.
Comment by geezerette — December 9, 2012 @ 5:30 pm
They can`t take your money until they, first, take your ammunition………………..
Comment by Colonel Jerry USMC — December 9, 2012 @ 7:06 pm
While we as a country were asleep, we were screwed, blued and tattooed by both parties.
Watch as Boehner bends over for Obama, and the Republicans villify anyone who tried to invoke the Constitution, just like the Democrats have.
The John Birchers were right all along.
Comment by JoeBandMember — December 9, 2012 @ 7:41 pm
Neither party gives a shit about The Constitution or Bill Of Rights.
The only thing that stands a chance of turning things around is a population armed to the teeth.
And half of us will trade our guns for food.
Comment by JoeBandMember — December 9, 2012 @ 7:46 pm
The bad news: our monetary system is unsustainable.
The good news: money is the artificial means we use to measure wealth. It is made so by government fiat. Our wealth will remain after our fiscal construct collapses.
There will be pain during the transition but that too shall pass.
Comment by Freddie Sykes — December 9, 2012 @ 11:36 pm
Sykes is right. Britail has inflated away 99% of the pound’s value since 1914, we’ve done 90% of the dollar’s since 1945. It’s just that this debt monetaization will be even faster. Debt, bond and cash holders will be screwed, fixed private income people will go on welfare, but we won’t die.
On recent years Russia, Argentina, and Mexico have gone through currency collapses without widespread unrest. We will too.
If I were China, I’d be buying any non- U. S. fixed asset I could. Like Iowa or Kansas.