Kevin Drum, discussing the Trillion Dollar Coin Trick:
But put that aside for a moment. I want to ask something else: is this really the road liberals want to go down? Do we really want to be on record endorsing the idea that if a president doesn’t get his way, he should simply twist the law like a pretzel and essentially do what he wants by fiat? My recollection is that we didn’t think very highly of this kind of thing when we thought George Bush was doing it.
This whole thing is not just a ridiculous idea, it’s a bad idea too. Republicans seem willing to set the country on fire to please their increasingly fever-swampish base, and eventually they’ll pay a price for that at the polls. Sooner than that, they’ll pay a price with the business community. This is a problem that we should work out via politics and public opinion, not by pretending the law allows the president to do anything he wants.
Gee Kevin, who are the crazy ones here?
We are currently OVER SIXTEEN TRILLION DOLLARS IN DEBT. On one side are the people who want to get a handle on government spending and set our fiscal house in order. On the other side are people who are asserting that there should be no restraints on the President’s power to keep spending money we don’t have.
Reasonable people can disagree, but the Vile Progs won’t accept that anyone who disagrees with them is being reasonable. That’s an article of their faith, not a negotiating ploy. Which, of course, makes compromise out of the question.
For the record, I am opposed to any radical ideas for achieving budgetary sanity. We have a moral obligation to take care of our children, elders and the disabled. I would not want to live in a nation that let people starve in her streets or let the sick and injured go untreated. On the other hand we cannot turn to confiscatory taxation as a solution to all of our financial problems.
But we are not facing such stark choices, at least not yet. We have been spending money we don’t have like crackheads with a stolen credit card. There is no painless solution to our problem. We cannot spend our way out of debt and we have a moral obligation to our children and grandchildren not to dump the cost of our extravagance on them.
Sooner or later there will be accountability. It took us years to get in this mess and it will take years to get out of it. The sooner we deal with it, the better for all of us.
The First Rule of Holes: “When you’re in one, stop digging”
Filed under: Federal Deficit, National Debt Tagged: | Federal Deficit, National Debt
http://hotair.com/archives/2013/01/08/democrats-want-courts-involved-in-debt-limit-standoff/
If you reach your credit limit you don’t call that a “default on debt”
Vile prog logic makes my head hurt.
Does this seem familiar?:
http://www.dilbert.com/2013-01-08/
Yup
First, one must acknowledge they are in a hole….so many people that I know think everything is just fine.
Second, we have no leaders to help us out of the hole that I can discern. Who are they? Where are they? When will they take action? At this point, Obama has complete control and it is frightening. If there was someone who people could trust to confront this silent “coup d’etat”, we could support that person….but I see no one strong enough. And what’s worse are messages like I read on Facebook this morning….” I wake up every morning happy that Obama is my president”….geez…I wake up every morning sick to my stomach….
It’s true, the vast majority of people don’t think there is a problem. If you think everything is wonderful and you’re so grateful Obama is president, then the problem won’t get solved.
AIG might be suing the US government, for you know, bailing it out. Or something.
I saw that on the news. I love the idea of a lawsuit focused on the bailout – let’s see the discovery phase.
“This whole thing is not just a ridiculous idea, it’s a bad idea too. Republicans seem willing to set the country on fire to please their increasingly fever-swampish base……”
At this point, that’s not a bad idea. Maybe if we burn the country down, we can collect the insurance money?
That actually sounds more reasonable than minting a trillion dollar coin.
Actually that should be “coins” cuz you know they won’t stop at just one.
After hyperinflation sets in, we’ll have another name for 1T coins: penny.
Or is that backwards. OK, time for coffee.
Can you imagine how devalued the dollar would be if we did mint this coin? I’m really astounded that all these so called expert economists haven’t mentioned that. Soon we’ll be needing wheelbarrows of cash just to buy a gallon of milk. It’s happened before, so it’s not like we don’t know the consequences.
Another consequence will be a complete collapse of confidence in the dollar as the global currency standard.
We might as well rename our money obadollar.
Denise- isn’t that exactly what Soros was proposing a few years back? That the world get away from the dollar as the standard currency for doing business?
But it’s important to amp up the blame game early on, otherwise someone with a (D) might actually be held — you know — accountable (spit, spit). [with apologies for the vulgarity].
Is the trillion dollar coil a serious suggestion?
We are so skarood.
Votermom , you are a genius , what can you buy with an Obadollar or Obamadollars ? Can you trade them for Monopoly money ?
A billion Obadollars can buy a shit sandwich. A million can buy a poopsicle.
Isn’t “poopsicle” the same thing as a “Roker”?
It’s a Roker on a stick.
sounds like Zimbabwe…
You are sooo bad!
http://www.nationalreview.com/articles/337123/new-liberal-aristocracy-victor-davis-hanson#
as always VDH hits the nail on the head
Good article. Always fun to smack around hypocrites.
Al Gore is as creepy as a lounge lizard lately. Ick.
I could maybe ignore the hypocrisy & lies of these self-indulgent libs if they actually did anything that ended up helping the rest of us. But that’s never been their intention. It’s nothing but smoke & mirrors.
I think the last thing a pol did that helped me out personally was Clinton’s Family & Medical Leave Act. Other than that, I can’t think of a damned thing.
http://weaselzippers.us/2013/01/08/racist-obamabots-must-show-id-to-get-into-obamas-inauguration/
btw RACIST obots must show ID to get into backtrack’s inauguration
http://weaselzippers.us/2013/01/08/current-tv-staffers-rip-assploding-hypocrite-al-gore-we-all-know-now-that-hes-nothing-but-a-bullshitter/
I do not think the staff at Current TV is happy.
Is it mean to think this is funny????
How could you not laugh . And in San Fran of all places.This is not supposed to happen to THEM . Any lingering doubts about laughing can be eased by reading the comments .
Quote of the week nominee from the NY Post:
Hee, hee, hee, hee, hee, hee, hee,……
Truth ? Who knows anymore ……
http://reason.com/archives/2013/01/07/the-truth-hurts
http://www.nypost.com/p/news/opinion/opedcolumnists/tax_even_chuck_schumer_hates_RuP7IgxTDnDpHB75yQjPWP
gee some senators just found out that the obamacare hurts their states. Maybe they should have read the bill before they voted for it. But they were so busy pontificating on how wonderful it was going to be they did not have time to read it
I know I was totally shocked. /s
Good thing we didn’t get that Romney guy with his binders of women who threatened to have a 50/50 cabinet. Last thing we needed was a governor with the best record of the most women at the highest positions (better even than women governors). Instead we got free birth control. Oh, by the way, has anyone noticed we won’t really get free birth control. Or is that still a secret.
Shhh ,don’t tell, o wait, it wouldn’t matter if you screamed it into a Vile progs ears they would not hear you
I am stealing this for my FB page with credit of course
Obama said he was looking for the best qualified not gender. Ha, like qualified has been a prerequisite before.
Being so qualified himself, you can see why that’s such a big consideration for him. :eyeroll:
LI & ace are pointing out that Warren isn’t declaring herself a Native American senator.
I just learned that the trillion dollar coin brilliant idea (sarc) came from boewolf at firedoglake. I knew it smelled like MMT hocus pocus.
Speaking of crazy ones, just a few years ago liberals were attacking Hagel for being so strongly against abortion, even in cases of rape and incest. Today the exact same organizations are sending out appeals telling people to pressure congress to confirm him. Last year he was a dangerous extremist, this year he’s “a moderate Republican with strong liberal values.”
Uniparty Kabuki. Here the same players play different rolls from act to act.
dems in congress just sent a letter to backtrack telling him he could raise the debt ceiling on his own without congress.
change the constitution to keep backtrack for life
give him all fiscal power the senate does not do the job anyway no budget for four years
do away with the Constituion
gee we can have the united states of kenya
idea
first spending cut do away with congress they do not seem to want to work anyway and the cost seems to be greater then the value
US IRS will accept 2012 tax returns on Jan. 30, 8 days later than planned due to tax law changes made in ‘fiscal cliff’ bill – @Reuters
http://www.breitbart.com/Big-Journalism/2013/01/07/Al-Jazeera-Dumps-Spitzer
Al Jazeera dumps Spitzer
Must be the new “no pigs” rule.
LMAO, good one votermom!
((((Hugs)))) sorry I hope you are on the mend soon.
tnx
lie back put your feet up, hot tea honey &lemon and brandy
GET BETTER SOON
mmm brandy
Nothing to do with colds or fevers but crossword puzzle aficionados among TCH readers will have heard about “aloe”, an additive to skin lotions. A few months ago Mrs.Dweet planted a few in her herb garden and recently trimmed them, noticing a gel like liquid slowly draining from their stalks.. Long story short last week she applied drippings to an existing itchy, rough, dark skin patch on her forearm and noticed an improvement. Repeated it each day for seven days and today the area has shrunk from the size of a quarter to smaller than a dime, plus is now barely pinker than the surrounding area. Itch, etc., all gone. Magic! {{facepalm}}
We have aloe vera houseplants – break off a stalk when needed for burns & for dry scalp
I have some different houseplants – break off a bud and burn when needed for herbal relief.
GET BETTER SOON VM..Garlic and VIT C
http://www.newsmaxhealth.com/headline_health/doctor_shortage_Obamacare/2013/01/07/492535.html?promo_code=1031D-1&utm_source=www.powerlineblog.com&utm_medium=nmwidget&utm_campaign=widgetphase1
growing shortage of MDs in USA
http://weaselzippers.us/2013/01/08/poll-congress-less-popular-than-root-canals-cockroaches-and-lice/
congress LESS popular than root canal, cockroaches and lice.
now that is pretty bad
Those three things are ultimately solvable. Congress? No way. Too many professional takers for ever reverse the situation. We are so doooooomed, and all that’s left is stalling for time.
But before the light fades I need to say how enjoyable I find myiq’s posts. Well done. Don’t always agree but appreciate the thought and energy expended.
I don’t always agree with me either.
http://thehill.com/homenews/house/276113-republican-presses-obama-to-deny-qblind-sheikhsq-release
Morsi is called for backtrack to release the blind sheik. This republican presses backtrack to deny his release
Of course this guy’s being slammed for being a smoker
http://www.dailymail.co.uk/news/article-2258867/Ralph-Tarrant-Britains-oldest-man-reveals-secret-hitting-109-years-old-I-smoked-I-70-enjoy-drink.html?ITO=socialnet-facebook-dailymail
http://www.americanthinker.com/blog/2013/01/bank_of_america_reportedly_freezing_gun_manufacturers_accounts.html
is this a lawsuit coming down the pike.
can a bank freeze your account because they do not like what you are selling even if your product is legal???
Why not? They did it to Wikileaks. If you can do it to one enterprise, you can do it to any enterprise. That’s why I couldn’t understand why there wasn’t more outrage about that.
http://www.clickorlando.com/news/College-Park-couple-says-front-yard-vegetable-garden-is-under-fire-again/-/1637132/18035884/-/png2kpz/-/index.html
Orlando couple to be fined $500 a day for growing vegtables in their front lawn
Rather than minting platinum coins or throwing the elderly in the streets to starve, why not just implement a modest (say, 1%) transaction tax on stock and derivatives trades. If you look at the document:
http://www.bis.org/publ/qtrpdf/r_qa1212_anx23a.pdf
On the Bank of International Settlements web page, you’ll see that the dollar value of exchange-traded derivative contract turnover was $145 trillion in the 3rd quarter of 2012. That’s nearly $600 trillion/year (a neat trick when the GDP for the whole planet is only a little over $40 trillion/year). A 1% tax on those transactions would produce a budget surplus of $4-5 trillion dollars. That’s enough to pay off the entire national debt in about 4 years.
I’m no expert but that idea seems too good to be true.
Party pooper
.
On the other hand, it just might indicate who the uniparty really works for.
It’s also a pretty clear indicator of just how bizarre the whole derivatives market is and how little it really has to do with what normal people think of as the “economy”.