Welcome Instapundit readers. Check out this post for additional info on Obama’s disingenuous rhetoric.
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Appearing on Freedom Watch, I explain that the White House is very flexible. The President will be happy if GOPers cut their own wrists and agree to a tax increase. That means Obama can tax and spend.
But he’ll also be satisfied if Republicans approve a “clean debt limit increase,” meaning Obama can borrow and spend.
The unifying theme, in case it’s not obvious, is that the Administration will go along with any outcome that enables more spending and bigger government.
In the second half of the video, the discussion shifts to whether the government has the right to seize children if parents allow them to get too chubby. Not surprisingly, I’m leery of giving bureaucrats that kind of power.
[…] Here’s one from the great Michael Ramirez, acknowledging the President’s willingness to meet his opponents halfway. […]
[…] Here’s one from the great Michael Ramirez, acknowledging the President’s willingness to meet his opponents halfway. […]
[…] Here’s one from the great Michael Ramirez, acknowledging the President’s willingness to meet his opponents halfway. […]
[…] Here’s one from the great Michael Ramirez, acknowledging the President’s willingness to meet his opponents halfway. […]
[…] Here’s one from the great Michael Ramirez, acknowledging the President’s willingness to meet his opponents halfway. […]
[…] Bruce is simply wrong. Obama wanted all of the “middle class” tax cuts extended, and he had to strike a deal with GOPers about “tax cuts for the rich.” To be fair, Obama’s position was at least somewhat moderate at the time, but he’s since come out of the pro-tax closet as part of the budget negotiations. […]
[…] Bruce is simply wrong. Obama wanted all of the “middle class” tax cuts extended, and he had to strike a deal with GOPers about “tax cuts for the rich.” To be fair, Obama’s position was at least somewhat moderate at the time, but he’s since come out of the pro-tax closet as part of the budget negotiations. […]
[…] So Long as He Gets What He Wants, Obama Is Flexible in the Budget Negotiations […]
Here is the bond trader’s way of thinking.
If the government keeps paying debt service ($200B coming in and $20B debt service/month) then Treasuries are proven to be supported by tax revenue (Full Faith) with or without a debt ceiling increase.
If we DONOT raise the debt ceiling the Treasury does not create new issues.
Under this scenario Treasuries are relatively scarce compared to if we raise the debt ceiling where there are more and more Treasury issues.
When you have scarcity the demand goes up. When demand goes up prices go up. When prices for bonds go up, interest rates come down.
That is the math.
And what the market is telling you about pricing.
The two big bond price drivers are the EU debt crises (also making US Treasuries relatively more attractive) and QE. Corporate profits also help because robust earnings suggest low likelihood of corporate defaults.
I agree with Roadslider. The Tea Party republicans in office now are the same republicans who spent they’re way into oblivion with GWB, or are the spiritual incubi of them. The spiritual fathers of these Tea Party demons had advance knowledge of the fact that the Man With Horse Face would be elected and spend profligately. They had an obligation to prevent this and skirted that obligation. This failure requires that we acquiesce to whatever demands Man With Horse Face puts forward, and continue to suffer in abeyance for all eternity. It is our just fate, and our children must pay for our sins as well.
[…] WELL, THAT’S BIG OF HIM: So Long as He Gets What He Wants, Obama Is Flexible in the Budget Negotiations. […]
“The GOP had 8 years to fix this mess and they fucking blew it. Their histrionics carry no weight now. Deal with it or suggest a bettert alternative or shut the fuck up.”
How does one argue with such understated eloquence?
[…] Heads I win, Tails you lose […]
The GOP had 8 years to fix Obama’s spending spree? Tell me how that works, exactly.
If your point is that that Bush spent too much, you’re right…but so what? Obama’s worse.
The problem is now worse and it has to be dealt with.
And I guess it escaped your notice, but the GOP has proposed a better alternative…that actually begins addressing the real problems: SPENDING, ENTITLEMENTS, PROGRAMS ON AUTO-PILOT.
All Obama wants to do is tax and spend…but the current debt along with our unfunded obligations threaten to crush our currency and our economy.
Time for some grown-ups to intervene.
We of course realize that the US has been going down since the late 60’s. We had a dollar that was worth 4 Swiss Fr.. Now it is worth 1 Swiss Fr.
We must realize that giving away all our industry and 20% of all jobs is not the correct posture to take. Yes that towel will cost $20 but having full employment and a vibrant economy is worth it. Instead we persist in thinking that the corporation is correct, that we should produce elsewhere and make twice as much profit. It is timme for the government to step up tell the corporation to operate for the benefit of the population and limit their salaries. Why should they tell the US what to do. “What one fool can do , so can another.”
Who caused the financial crisis? Who didn’t believe there was anything wrong with Fannie Mae and Freddie Mac? Who didn’t put reform to Fannie Mae and Freddie Mac in the Financial bill? Who added a big stimulus bill and obamacare to the already high deficit and debt? Who controlled the auto-bailout and put the unions in front of the bond-holders? — obama and the democrats.
The GOP had 8 years to fix this mess and they fucking blew it. Their histrionics carry no weight now. Deal with it or suggest a bettert alternative or shut the fuck up.
I’m reading “Reckless Endangerment,” and this tactic of “if you pass this bil all hell will break loose” has been tried, successfully, before, every time anyone tried to reign in the debt-making machines at Fannie and Freddie: “if you put restrictions on us, interest rates will rise and people won’t be able to buy homes and children and old people will be pushed out onto the streets where they will be mugged and raped by jihadist terrorists before they die from eating McDonalds hamburgers and Chinese food.” And because no politician wants to be responsible for homelessness or for a national default, and even more because they are all receiving huge amounts of money from these financial wheeler-dealers, they all vote for the status quo, knowing that there’s bound to be a Republican in office somewhere whom they can blame for the disaster which follows.