Even the L A TIMES admits that the debt deal does nothing and was that was what Obama wanted....
 

For all you people that think that "the Republicans got what they wanted", here is an excerpt from a liberal newspaper laying it out for you....

Basically, we are all being taken for a ride by all these asswipes in the Federal Government.

http://articles.latimes.com/2011/aug...ssess-20110802

"Indeed, for all the high-stakes political drama and the apparent damage the months-long debate has inflicted on the political standing of both parties and the president, the compromise ? what White House officials refer to as a "lowest common denominator" deal ? achieves relatively little in the short term.

Over the next two years, the final compromise comes very close to the initial request by Obama ? a "clean" debt ceiling increase that allows the government to pay its bills and does nothing else.

In the government's 2012 fiscal year, the cut would be $21 billion, or less than 1% of a nearly $3.7-trillion federal budget, according to the Congressional Budget Office.

The bulk of the projected $2.1 trillion or more of cuts does not start kicking in until after the next election when a future Congress and president could choose to rewrite the plan ? a point that many conservatives have worried about.

"Enforcement is the key to whatever we do. It's always in the out years and it never happens," said Sen. Michael D. Crapo (R-Idaho), using the budget lingo for the latter years of a long-term deal.

The bill almost certainly defers until after next year's election the central choice most budget experts say the country eventually must make: higher taxes or deep cuts"



:disgust:disgust:disgust


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All Obama wanted was to have this come up again after he runs for re election

How do they define "upper-income families"? During the election, Bidden said it was households making over 125k or up to 150k a year or individuals making over 85k depending on who he was speaking to.

I don't really think of this group as fat cats especially when the average (mind you "average") income for a government employee is 100k now. Leadership across the board is the worst I've seen it in my lifetime.

Republicans, Democrats, the Tea Party, every single politician is corrupt. There is example, after example, after example and what can we do, vote them out and vote in someone else that's corrupt. I've lost hope, I believe the republic has failed and the only way to bring about real change is to rise up, scrap the government, and install a true, pure democracy.

The truth is that there are actually no cuts at all in the new [debt deal]. “The ‘cuts’ being discussed are illusory, and are not cuts from current amounts being spent, but cuts in projected spending increases,” wrote Ron Paul. With only 2% of cuts taking place before the next pres. election... the truth is that Washington is about to pass “a bigger budget than ever” despite heavy rhetoric, said Ron Paul...

[The debt ceiling deal] is akin to a family “saving” $100,000 in expenses by deciding not to buy a Lamborghini, and instead getting a fully loaded Mercedes, when really their budget dictates that they need to stick with their perfectly serviceable Honda. - Ron Paul

http://blogs.forbes.com/afontevecchi...ng-deal-sucks/

It's business as usual in Washington DC.

They need to stop handing money out to other countries like party favors.

Obama has based all is policies on projected spending increases, thats how he got the healthcare bill signed into law, scary ain't it

That's about the most illogical statement ever.

Be real wary if you're long in the market. The long term quarterly and monthly charts have very ominous negative signals.

Good luck whether your a bull or bear! Let's just not be sheep right.

And why is that? all the figures were based on projected earnings and savings but accoring to those figures, the economy should be a lot better off now.

That's what the CBO lives for and thats how they were able to pass the law. If they couldn't prove it would save money, they couldn't have passed it. Thats why they added the student savings part of it.

My guess is that we're about to see another large dip before the election. The republicans in charge of corporations will surely want to have some economic suffering pre-election to shift things in their direction.

Also it just feels like the stock markets are still too high based on all the negative news and outlooks going forward. China and Russia have been more snappy and blunt lately with their comments as well. Housing in the US hasn't rebounded, and it seems housing in Canada, especially BC is headed towards a correction too.

It always surprises me how some people stick up for the Republicans again and again and again.

Yes! Isn't it great that the usual crowd of corrupt career politicians using a willing media ally outwitted some new inexperienced people that antes to make SOME kind of real change before the whole shebang goes down in flames completely. It's wonderful news! Now
The carre guys can continue to keep their power and money flowing in while driving this bus straight towards a huge cliff... Hooray! WooHoo!!!



.

Sorry for the typos. I'm on my iPhone and the gfy interface makes it hard to edit

here is a good article imo of how it all went down. long read.

Special report: How Washington took the U.S. to the brink

http://news.yahoo.com/special-report...222113953.html

Well, first you said "Obama has based all is policies on projected spending increases" and that's flat out false.

What figures/projections are you talking about? Budget wise, it's a totally new budget, any old projections would be wrong.

Healthcare wise, it has already saved money, before students. So the projections they made on that was correct, I guess we'll have to wait 5 more years to see if the rest come true.

Every president before obama got a clean bill to raise the debt and now its his fault. Thats too funny. The right dont care about the debt or america. Its about keeping the economy soft and unemployment high. So barry is a one termer. Now barry has no back bone and he plays their game. I wish hilary won i really do.

If she lead like her husband, I agree with you, but I don't think her party wanted her

http://www.politico.com/news/stories/0709/24899.html

PLease read

Wow, coming from the politico???





.:helpme

Oh really .... is that why she lost the primary ??? :1orglaugh

100k? I might have to get a government job. Full pension too.

did anybody read this? i was wondering what others though about its accuracy..


:)

why would they cut aid to graduate students? motives cruel or sinister?

Why would they cut aid? MAYBE BECAUSE THERE ISN'T ANY MORE MONEY????????







(SHEESH)


.:Oh crap:helpme

This does not support anything you said, let alone: "Obama has based all is policies on projected spending increases" - If anything it would disprove that statement.

I'm not really sure why you even selected this article, it simply states the obvious. Based on old estimates when the new budget comes out, if Obama sticks to his current forecasts he'll be an idiot, otherwise they'll have to look at it all again, revise it, and work with new numbers so they can actually see what's going on, or again, look like idiots.... overall, kinda of a duh article, being that this happens every time a new budget comes out.

http://www.politicususa.com/en/maddow-obama-agenda

:2 cents:

This has nothing to due with BO or his re-election. This new round of borrowing has taken us to 100% GDP to debt. We now officially owe more than we produce as an entire country. This will be the reason for the financial market meltdown, the credit rating downgrade, and overall shity economy for a long time to come. This is no longer a democrat vs. republican issue. This has become a problem that will require some big balls to overcome. Neither party seems to have those...

I wish they has saved some money by avoiding wars... and spent it on the people.

I would bet money every bullet fired, bomb dropped and missile launched in all the wars were made by workers in the US. This is one industry you haven't managed to export to China yet.

Also every soldier is a US citizen who was sending his wages home, well he spent a little in Afghanistan and Iran on fly repellent.

Where do you think the$3.7-trillion was spent?

It was spent on US citizens, making it look like you had a great booming economy. When the truth was, you were living on credit.

I seriously doubt whether any of you have a clue where, how or when this deficit will be cut, if ever.

Look outside the USA for a while and see what other countries are doing to cut their debt. Yes the debt crisis isn't unique to the US, so no blame there.

Fixing the debt could actually wreck the U.S. economy.

This will give you a taste.

The economists on GFY think that it's the other guys fault and that cutting spending is the solution. :upsidedow

It's everyones fault and the rest of the world lent the US money so they could sell it's goods. The debt was sold on the markets. Because they get paid only on sell and buy commissions. Now the shit has hit the fan. The brokers are off to sit on a beach with their money tucked away safe. The rest of us will pick up the tab.

Go read. http://www.google.com/webhp?hl=en#hl...w=1280&bih=784