Andre Damon in “US Congress passes bipartisan austerity budget” runs down details of the 1,582-page budget that was overwhelmingly accepted by both houses. In fact, it had a fast-tracked approval process Monday through Thursday in the Senate, suggesting that most of the senators never even read it.
Damon labels the new budget “reactionary” and “anti-working class in character” and points out that it reduces discretionary social spending to its lowest percentage since the 1950s. Read below the fold...
Disclaimer: This forum rules like the moderator. I'm talking about a different one that tends to skew towards Obots in an orange way.
And here we are again! It started in 2010. The Bush tax cuts were about to expire. There was leverage to negotiate a debt ceiling raise or to just let them expire. How do I know there was leverage? I know Republicans like tax cuts for the rich, and there was a deal for the purpose of extending them with Republican votes. It passed with those Republican votes, which led to this whole thing because there was no debt ceiling raise included.
Maybe others are unaware of this? I don't know. It doesn't matter though; the uninformed shouldn't dictate fantasy as reality in a reality based community. This is the actual reality and why we are worried about a global financial calamity with regard to a possible political default on the public debt, which is a choice and otherwise impossible for a sovereign currency issuer.
Q Mr. President, thank you. How do these negotiations affect negotiations or talks with Republicans about raising the debt limit? Because it would seem that they have a significant amount of leverage over the White House now, going in. Was there ever any attempt by the White House to include raising the debt limit as a part of this package?
THE PRESIDENT: When you say it would seem they’ll have a significant amount of leverage over the White House, what do you mean?
Q Just in the sense that they’ll say essentially we’re not going to raise the — we’re not going to agree to it unless the White House is able to or willing to agree to significant spending cuts across the board that probably go deeper and further than what you’re willing to do. I mean, what leverage would you have –
THE PRESIDENT: [silence].... Look, here’s my expectation — and I’ll take John Boehner at his word — that nobody, Democrat or Republican, is willing to see the full faith and credit of the United States government collapse, that that would not be a good thing to happen. And so I think that there will be significant discussions about the debt limit vote. That’s something that nobody ever likes to vote on. But once John Boehner is sworn in as Speaker, then he’s going to have responsibilities to govern. You can’t just stand on the sidelines and be a bomb thrower.
You know, we on the left knew what this would lead to. You don't trust John Boehner with the full faith in credit of the United States unless one is completely clueless or an economic nihilist. The resulting signs we are starting to see of a financial panic in response to the prospects of a default on top of the ongoing depression, the jobs crisis, the continuing climate and ecological crisis all converging into one huge Epochal crisis, point to a special kind of disdain for the public that all our elected leaders have for us. I mean, we have enough problems without adding to them through a self induced global financial then economic crisis caused by the President's pursuit of a deficit terrorist grand bargain whether through incompetence or outright corruption. Read below the fold...
America’s Hunger Epidemic: 'A Place at the Table' and 'American Winter' by Michael Shank
50 million Americans live in food-insecure households
1-out-of-2 American children will rely on federal assistance for food during their childhoods
106 million Americans, over 1 in 3, live below twice poverty line (less than $36,000 for a family of three)
Richest 1 percent now possess 40 percent of the nation’s wealth
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FOUND THIS TAPE AND TRANSCRIPT TO BE QUITE INTERESTING. AND FRANKLY, I'D TAKE NORQUIST'S WORD 'TO THE BANK' ON TAX MATTERS.
SO, THIS IS THE 'TRUE' POSITION OF THE DEMOCRATIC PARTY WHEN IT COMES TO TAX REFORM. JUST WHAT I SUSPECTED. Read below the fold...