Eric Cantor weighed in today at Quora on the balanced budget Amendment. This is what he said:
Once created, government programs build constituencies of special interests determined to keep the money flowing, whether or not the particular program is effective. There have been many times when the House has placed wasteful and duplicative programs on the chopping block, only to see pressure from the spending lobby win the day in the Senate.
Near-term spending cuts are necessary to alter the course, but they will not be enough without long-term changes. Likewise, promises of cuts 10 years from now mean little without a way to enforce them. The only way to truly guarantee delivery from future elected officials is for the Constitution to demand it.
To that end, the House has scheduled a vote on a balanced budget amendment that would require supermajorities in both chambers to run a deficit, raise the debt ceiling, raise taxes and spend more than 18% of the GDP. With the balanced budget movement gaining momentum, members of the spending lobby want to argue that Congress and the President already have the ability to control spending. Ability and discipline are not the same. If Washington actually had the discipline to live within its means over the long-term, every American citizen would not owe $46,000 toward the national debt.
In my view, the importance of these upcoming votes cannot be overstated. The adoption of a Balanced Budget Amendment would make reckless borrowing a thing of the past, and will ensure that our children enjoy futures full of opportunity.
Democrats and Republicans should join together to do the right thing, pass this amendment, and make a real difference for the future of our country.
Lately, Republicans have been riding the hobby horse of charging the President with being a dictator. Well clearly he is not that, or he would have had them imprisoned, or worse, a long time ago. On the other hand, the President's hands are far from clean when it comes to activities like illegal surveillance of Americans, drone strikes without due process, collusion of the Government with local authorities to repress Occupy exercising its rights of free speech and assembly, and failure to enforce the law with reference to torture of prisoners, and control frauds in the FIRE sector.Have I covered everything, or did I forget something?
Regardless, everything I've covered are anti-democracy activities that Republicans, apparently, have no problem with. On the other hand they're mightily concerned about the what they think is the President's “extremism” in increasingly relying on Executive Orders to get some of his objectives accomplished. Their faux outrage over this, centers around the claim that the President has issued an unusual amount of Executive Orders during his time in the Presidency. Read more about Executive Orders: A Fair Ranking of Presidents from Least Active to Most Active
The first minute of this video has local weatherman turned state representative, Greg McMaster saying, in answer to a question about restoring funding for education, "You need to recognize that for every dollar that you put into that school there are different entities that want part of that money, some of it going to teachers, others going to education [??!!].... Read more about No money for schools because teachers might get it
In light of the Supreme Court's decision on the Voting Rights Act, upholding the principle that States must be treated equally under the Constitution when it comes to new voting legislation they enact, but people, in relation to their exercising their voting rights, not so much; there's a real need for proposals to make Section 5 of the Voting Rights Act operative again by re-writing Section 4. Here's a modest proposal. Read more about A Modest Proposal on Voting Rights
My "Dismal Science" diet comes from a wide variety of sources. As our corrupt national political establishment and discredited media organs begin to focus on post-election Catfood Commission politics, it's instructive to see how different economists read the writing on the wall, and come to a variety of conclusions. In this case I'd like to highlight the observations of Dr. Richard D. Wolff, who appears to come to a similar conclusion to the one I derived in my previous post about how the Grand Bargain is a shell game calculated to drain the public funds for private purposes (The Grandest Bargain Ever, Explained). Read more about Grandest Bargain Ever, a different wrinkle from Economist Richard Wolff
WASHINGTON -- The Obama administration, state attorneys general, and, perhaps, the nation's largest banks are close to a final settlement on the years-long struggle over allegations of massive foreclosure fraud, according to several sources familiar with the talks. And the final details of the arrangement, according to the source who revealed them, will apparently not preclude prosecutors and regulators from taking legal action against many of the common abuses during the house bubble. It remains to be seen whether all parties will ultimately sign off on the language.
Seen at a local fair.
Yay! This is the best 9/11 since 9/11!
Be sure to light the candle to celebrate!
After we've all had a slice, maybe we can give a bullhorn to a Texas rooster so he can climb all over it and sing cock-a-doodle doo!
BEST IN CLASS!
U.S. federal agents allegedly allowed the Sinaloa drug cartel to traffic several tons of cocaine into the United States in exchange for information about rival cartels, according to court documents filed in a U.S. federal court.
An Antemdius entry uses a quote from Franklin Delano Roosevelt, who said in his speech announcing the Second New Deal in 1936: Read more about FDR: "Government by organized money is just as dangerous as Government by organized mob."