Who Won, Who lost?

  • #26
795
7
"Balanced" implies balanced to me... that half of the "reduction" would come from tax increases.
In Washington, words don't mean what you think they do.

For example, I bet many people think those "cuts" are actual reductions in spending. Not so. The "cuts," always in quotes, are reductions in the amount of projected increases. In other words, in Washington a "cut" is a reduction in the first derivative of the spending. The spending itself NEVER goes down. It's like the log of x. It goes to infinity, just not quite as quickly as it some politicians projected it to!

People might not realize that because of all the anguished yelping from the left. But the so-called "conservatives," also in quotes, voted to borrow and spend another $7T over the next ten years.

The spending and borrowing continues nonstop. If that's conservativsm, I'm against it. And with the left screaming about "the end of life on this planet," I'm not for them either.

This deal is a complete disaster for the American people, who are about to experience the real world consequences of a government running six wars on credit, promising massive social programs without generating the income to pay for them; and calling a continuation of the insane spending and borrowing, "austerity."

Grrrrrrrr.
 
  • #27
149
0
In Washington, words don't mean what you think they do.

For example, I bet many people think those "cuts" are actual reductions in spending. Not so. The "cuts," always in quotes, are reductions in the amount of projected increases. In other words, in Washington a "cut" is a reduction in the first derivative of the spending. The spending itself NEVER goes down. It's like the log of x. It goes to infinity, just not quite as quickly as it some politicians projected it to!

People might not realize that because of all the anguished yelping from the left. But the so-called "conservatives," also in quotes, voted to borrow and spend another $7T over the next ten years.

The spending and borrowing continues nonstop. If that's conservativsm, I'm against it. And with the left screaming about "the end of life on this planet," I'm not for them either.

This deal is a complete disaster for the American people, who are about to experience the real world consequences of a government running six wars on credit, promising massive social programs without generating the income to pay for them; and calling a continuation of the insane spending and borrowing, "austerity."

Grrrrrrrr.
It's actually worse than that - the projections are based on GDP growth above 2% - not sure when adjustments will be made - maybe when we double-dip?
 
  • #28
mheslep
Gold Member
311
728
The country lost. Right now our problem IS NOT DEBT. ...
Annual net interest outlays on the debt with the current spending baseline and a AAA rating:
2010:~$200B.
2020:~$800B.
http://www.cbo.gov/ftpdocs/119xx/doc11999/12-14-FederalDebt.pdf

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUnitedStatesofAmerica_AAAA_7_14_11.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243932109521&blobheadervalue3=UTF-8" [Broken]:
S&P said:
We expect the debt trajectory to continue increasing in the medium term if a medium-term fiscal consolidation plan of $4 trillion is not agreed upon. If Congress and the Administration reach an agreement of about $4 trillion, and if we [were] to conclude that such an agreement would be enacted and maintained throughout the decade, we could, other things unchanged, affirm the ‘AAA’ long-term rating and A-1+ short-term ratings on the U.S.
...
If such an agreement is reached, but we do not believe that it likely will stabilize the U.S.’ debt dynamics, we, again all other things unchanged, would expect to lower the long-term ‘AAA’ rating, affirm the ‘A-1+’ short-term rating, and assign a negative outlook on the long-term rating.
 
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