Quote:
Originally Posted by directfiesta
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says the guy that offers noithing but a happy face
Quote:
Originally Posted by Robbie
I don't know one guy (including me) who owns his own business who really gave a shit about the arguments and deals that Congress fought over. We all look at the bottom line: Are people BUYING.
If not for CNN and Fox News "reporting" on this 24 hours a day then millions of rednecks living in trailer parks who could give two shits about the federal govt. (except to get their "welfare" checks in whatever form) wouldn't even KNOW anything about a "debt ceiling". And they would be at Walmart buying stupid shit everyday.
Arguments in Washington are usually only "important" to the self absorbed politicians and media.
The stock market rises and falls mostly on speculation and "confidence" and "fear".
And again...when you have the 24 hour "news" organizations and govt. fearmongering...what did they expect to happen.
All I can say is...I voted for Obama. He has been a huge disappointment. And now he shows that he doesn't grasp how to play the "game" and keep the market kicking ass.
It ain't that hard. Hell Ronald Reagan saw Jimmy Carter make the mistake of being depressing. And then he simply was "cheerful" and no matter what happened he just kept saying how "great" America was...and I'll be damned if it didn't inspire confidence.
Obama sitting back and acting helpless and letting Reid and Pelosi run the Democratic Party and the country is causing business and the market to be unstable. Period.
They don't know what's coming next. Will their taxes be raised? Expect MORE unemployment. Are they going to have to pay for every employees health insurance in a couple of years? Expect MORE unemployment.
Uncertainty is what's killing the market.
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Which boils down to he's a bad leader.
Promises the world, delivers fluff and fan fare.
I read the supposed cuts they made, it's most all based on accounting on future hopeful gains in the economy and cutting the military by taking troops out of the middle east. These are not cuts.
Obama would have signed anything that kept the ceiling funded till after the 2012 elections, which he got and the GOP would have signed anything that at least showed they were cutting anything, which it really doesn't look like they did.
I'm pissed at the Tea Party candidates that voted for this and didn't stick to their campaign promises, fuck them, I know the Tea Party won't forget and will vote the bums out.
The country needs some serious cuts in it's spending, here's a list that needs to be looked at.
http://www.downsizinggovernment.org/...ed-budget-plan
Proposed Federal Budget Cuts
Agency and Activity Annual Savings
$ billion
Department of Agriculture
End farm subsidies 29.5
Cut food subsidies by 50 percent 52.7
End rural subsidies 4.2
Total cuts 86.4
Department of Commerce
End telecom subsidies 2.3
End economic development subsidies 0.6
Total cuts 2.9
Department of Defense
Enact Preble/Friedman reforms** 150.0
Department of Education
End K-12 education subsidies 52.7
End student aid and all other programs 33.1
Total cuts (terminate the department) 85.8
Department of Energy
End subsidies for energy efficiency 10.2
End subsidies for vehicle technologies 5.2
End the technology loan program 1.2
End electricity research subsidies 2.0
End fossil energy research 1.1
Privatize the power marketing administrations 0.5
End nuclear energy subsidies 0.6
Total cuts 20.8
Department of Health and Human Services
Block grant Medicaid and freeze spending** 226.0
Repeal 2010 health care law** 87.0
Increase Medicare premiums** 39.8
Cut non-Medicaid state/local grants by 50% 37.7
Cut Medicare payment error rate by 50% 28.6
Increase Medicare deductibles** 12.6
Tort reform 10.0
Total cuts 441.7
Department of Housing and Urban Development
End rental assistance 28.6
End community development subsidies 15.0
End public housing subsidies 8.9
End housing finance and all other programs 8.3
Total cuts (terminate the department) 60.8
Department of Justice
End state and local grants 5.0
Department of Labor
End employment and training services 4.8
End Job Corps 1.7
End Community Service for Seniors 0.8
End trade adjustment assistance 1.3
Total cuts 8.6
Social Security
Price index initial benefits** 41.1
Raise the normal retirement age** 31.4
Cut Social Security disability program by 10% 13.2
Total cuts 85.7
Department of Transportation
End urban transit grants (federal fund savings) 5.8
Privatize air traffic control (federal fund savings) 5.8
Privatize Amtrak and end rail subsidies 2.9
Total cuts 14.5
Department of the Treasury
Cut earned income tax credit by 50% 22.5
End refundable part of child tax credit 22.9
Total cuts 45.4
Other Savings
Cut federal civilian compensation costs 10% 29.6
Cut foreign development aid by 50% 5.2
Cut NASA spending by 50% 9.8
Privatize the Corps of Engineers (Civil Works) 10.6
Repeal Davis-Bacon labor rules 9.0
End EPA state and local grants 6.5
End foreign military financing 5.4
End subsidies for the Corp. for Nat. Comm. Srv. 0.6
End subsidies to the Corp. for Public Broadcasting 0.5
End the Neighborhood Reinvestment Corp. 0.2
Total cuts 77.4
Grand total annual spending cuts $1,084.9