Source: (consider it)
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Thread: Purgatory: Staring at the debt ceiling
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Imaginary Friend
Real to you
# 186
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Posted
quote: Originally posted by New Yorker: I still don't see how we can avoid making deep, deep cuts in spending and do so soon.
By instituting a tax regime worthy of a fair, progressive, compassionate, developed society.
-------------------- "We had a good team on paper. Unfortunately, the game was played on grass." Brian Clough
Posts: 9455 | From: Left a bit... Right a bit... | Registered: May 2001
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malik3000
Shipmate
# 11437
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Posted
quote: Originally posted by Hawk: quote: Originally posted by malik3000: Does anyone have any ideas that are both legal and practical that those of us who reside in this childish and corporately-owned polical entity can do to rescue ourselves. By us I mean the many who being preyed upon by the few.
I see no hope for this. But God makes a way out of no way.
Surely emigration is the only rational choice for an American. Pick a country at random and apply. Anywhere's got to be better.
I'd be a citizen of Canada now if i hadn't been so lackadaisical and non-focussed when i was a younger adult. Now i'm chronologically too old for a work visa, and don't have enough money saved up to where i could just retire and live off my savings.
-------------------- God = love. Otherwise, things are not just black or white.
Posts: 3149 | From: North America | Registered: May 2006
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malik3000
Shipmate
# 11437
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Posted
quote: Originally posted by Hawk: quote: Originally posted by malik3000: Does anyone have any ideas that are both legal and practical that those of us who reside in this childish and corporately-owned polical entity can do to rescue ourselves. By us I mean the many who being preyed upon by the few.
I see no hope for this. But God makes a way out of no way.
Surely emigration is the only rational choice for an American. Pick a country at random and apply. Anywhere's got to be better.
If i'd been more focussed during my young adulthood period in Canada i'd have been a citizen by now. But i was pretty aimless in those days. Now i'm chronologically too old for a work visa. And i don't have savings amassed to where i could move back and live independently.
-------------------- God = love. Otherwise, things are not just black or white.
Posts: 3149 | From: North America | Registered: May 2006
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Zach82
Shipmate
# 3208
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Posted
quote: Maybe in 2013 when the GOP controls both Houses of Congress and the White House, we'll make progress! But the Republicans always seem to snatch defeat from the jaws of victory.
Hey, remember that time, like 6 years ago, when Republicans did control the Senate, House, and White House? Manoman, that was a golden age. The budget was soooooo balanced.
Zach
-------------------- Don't give up yet, no, don't ever quit/ There's always a chance of a critical hit. Ghost Mice
Posts: 9148 | From: Boston, MA | Registered: Aug 2002
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tclune
Shipmate
# 7959
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Posted
quote: Originally posted by Imaginary Friend: quote: Originally posted by New Yorker: I still don't see how we can avoid making deep, deep cuts in spending and do so soon.
By instituting a tax regime worthy of a fair, progressive, compassionate, developed society.
But wouldn't that require us to be a fair, progressive, compassionate, developed society?
--Tom Clune
-------------------- This space left blank intentionally.
Posts: 8013 | From: Western MA | Registered: Jul 2004
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art dunce
Shipmate
# 9258
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Posted
I realize this sounds crazy but the fact that the US is looking at a demographic tsunami that will soon change the face of this country gives me enormous hope. One of the reasons these xenophobic, racist, idjits are in such a lather is that they see the writing on the wall and it's en Espanol. The Tea Party might have its representatives but as the millions of Latino youth reach voting age, they'll have to increasingly contend with the Café con leche party.
-------------------- Ego is not your amigo.
Posts: 1283 | From: in the studio | Registered: Apr 2005
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Leaf
Shipmate
# 14169
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Posted
Here's a surprise: David Frum, former Bush speechwriter and diehard Republican, writes a very good article in which his position is almost identical to mousethief's and bears no relationship to New Yorker's.
Who would have thought David Frum imagining himself as a social justice Martin Luther?
When he suggests cutting health care rather than support for the unemployed and poor, he mentions that Americans grossly overpay for their healthcare... but he can't quite bring himself to diagnose why that is, nor prescribe a solution.
Poor Davy. I think he's actually a Canadian Tory, rather than an American Republican, and can't find a place for himself amidst the Tea Persons.
Posts: 2786 | From: the electrical field | Registered: Oct 2008
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alienfromzog
Ship's Alien
# 5327
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Posted
quote: Originally posted by Zach82: quote: Maybe in 2013 when the GOP controls both Houses of Congress and the White House, we'll make progress! But the Republicans always seem to snatch defeat from the jaws of victory.
Hey, remember that time, like 6 years ago, when Republicans did control the Senate, House, and White House? Manoman, that was a golden age. The budget was soooooo balanced.
Zach
You gotta love how the institution of massive tax cuts for the wealthy caused the problem and yet somehow it's the expenditure that's gotta be fixed....
If it wasn't for the fact that these idiots have power it would be awesomely funny.
God bless America...
...you guys really, really need it.
AFZ
-------------------- Everyone is entitled to his own opinion, but not his own facts. [Sen. D.P.Moynihan]
An Alien's View of Earth - my blog (or vanity exercise...)
Posts: 2150 | From: Zog, obviously! Straight past Alpha Centauri, 2nd planet on the left... | Registered: Dec 2003
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Crœsos
Shipmate
# 238
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Posted
quote: Originally posted by New Yorker: quote: Originally posted by malik3000: New Yorker, at long last, do facts mean absolutely nothing to you?
First, to momentarily sink to the level of your comment, where do you get the factually wrong idea that the extent of Michelle Obama's travels as a 1st lady is all that different from previous 1st ladies? Or does the commandment "Thou shalt not bear false witness..." mean nothing to you?
Now there are also those who really still can't get past the idea of a African-American 1st Lady. This of course would not be true of you, though hailing from the deep south as you do (despite your screen name)
Malik -
The fact that Michelle is black has no bearing on my thoughts. Maybe I'm wrong, but it seems to me that she has been traveling and living large on the taxpayers' dime(s).
And she's living in government-funded housing, too! Why she's practically a "welfare queen", and in no way comparable to things like this!
quote: WASHINGTON [5/12/2002] – Laura Bush takes in Paris in the springtime this week – and Budapest and Prague, too. It will be her first extended solo trip abroad as first lady and, in many ways, an inevitable new step on a long trail blazed by her predecessors.
Jacqueline Kennedy did it with a splash 40 years ago with high-profile visits to India and Pakistan. And Hillary Rodham Clinton regularly traveled the world, promoting education, health care and micro-loan programs designed largely to help poor women.
On this trip, Mrs. Bush will be more low-key, though no less ambitious in her own businesslike way.
She will discuss education and health care, two issues that she has long advocated. And, in an unusual venue, she will direct a 15-minute address to Afghanistan on the Radio Free Europe network.
"It's a good opportunity for her to use a global stage to talk about something that's important," said the first lady's press secretary, Noelia Rodriguez, summing up the 10-day trip. "She's very much looking forward to it."
Well, at least you've got a whole bunch of iron-clad statistics to back you up, right?
quote: Originally posted by New Yorker: If I am wrong, then I was wrong. And thank you for your kind words.
Given the way the whole "living large on the taxpayers' dime" thing has been a common stereotype of African-Americans since at least the Eisenhower administration I would have thought it would have gotten a bit tired by now, but I guess not. At any rate, for whatever reason Michelle Obama going to South Africa sets off your "living large on the taxpayers' dime" sensor in a way that Laura Bush going to Paris or (then First Lady) Hillary Clinton going to Pakistan or Beijing don't.
-------------------- Humani nil a me alienum puto
Posts: 10706 | From: Sardis, Lydia | Registered: May 2001
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art dunce
Shipmate
# 9258
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Posted
Crœsos: Don't think I've ever done this but....
I get so tired of people attacking Michelle.
-------------------- Ego is not your amigo.
Posts: 1283 | From: in the studio | Registered: Apr 2005
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Autenrieth Road
Shipmate
# 10509
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Posted
Lunch conversation today introduced me to the mindset that everything wrong in the economy is because the government spends too much. So if this budget deal tanks the economy, people with this mindset will never accept that it was the cuts, but instead argue that we need more cuts.
It's going to be a long ugly decade.
-------------------- Truth
Posts: 9559 | From: starlight | Registered: Oct 2005
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Golden Key
Shipmate
# 1468
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Posted
Re First Ladies and spending:
And then there was Nancy Reagan. Quite a big fuss, at the time.
-------------------- Blessed Gator, pray for us! --"Oh bat bladders, do you have to bring common sense into this?" (Dragon, "Jane & the Dragon") --"Oh, Peace Train, save this country!" (Yusuf/Cat Stevens, "Peace Train")
Posts: 18601 | From: Chilling out in an undisclosed, sincere pumpkin patch. | Registered: Oct 2001
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mousethief
Ship's Thieving Rodent
# 953
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Posted
quote: Originally posted by Autenrieth Road: Lunch conversation today introduced me to the mindset that everything wrong in the economy is because the government spends too much. So if this budget deal tanks the economy, people with this mindset will never accept that it was the cuts, but instead argue that we need more cuts.
It's going to be a long ugly decade.
Long, ugly, STUPID decade.
-------------------- This is the last sig I'll ever write for you...
Posts: 63536 | From: Washington | Registered: Jul 2001
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Imaginary Friend
Real to you
# 186
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Posted
I think that's something everyone can agree on.
-------------------- "We had a good team on paper. Unfortunately, the game was played on grass." Brian Clough
Posts: 9455 | From: Left a bit... Right a bit... | Registered: May 2001
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Sioni Sais
Shipmate
# 5713
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Posted
quote: Originally posted by Sioni Sais: I rate it another mixture of grandstanding and brinkmanship, ie it's politics. It rates zero in any country.
That was my post from exactly one month ago. Go on, tell me how wrong I was!
-------------------- "He isn't Doctor Who, he's The Doctor"
(Paul Sinha, BBC)
Posts: 24276 | From: Newport, Wales | Registered: Apr 2004
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moonlitdoor
Shipmate
# 11707
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Posted
I was interested to see that in the House a lot of Democrats voted against and it was the Republican votes which gave it a comfortable majority, whereas in the Senate the Democrats voted overwhelmingly in favour. What accounts for the difference between the two parts of Congress ?
-------------------- We've evolved to being strange monkeys, but in the next life he'll help us be something more worthwhile - Gwai
Posts: 2210 | From: london | Registered: Aug 2006
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Alfred E. Neuman
What? Me worry?
# 6855
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Posted
quote: Originally posted by Sioni Sais: quote: Originally posted by Sioni Sais: I rate it another mixture of grandstanding and brinkmanship, ie it's politics. It rates zero in any country.
That was my post from exactly one month ago. Go on, tell me how wrong I was!
"Grandstanding and brinkmanship"? Is that what you call holding the head of the world's economy to the chopping block in order to force your social agenda? Looks like extortion to me.
Posts: 12954 | Registered: May 2004
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Sioni Sais
Shipmate
# 5713
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Posted
quote: Originally posted by moonlitdoor: I was interested to see that in the House a lot of Democrats voted against and it was the Republican votes which gave it a comfortable majority, whereas in the Senate the Democrats voted overwhelmingly in favour. What accounts for the difference between the two parts of Congress ?
Could it be that in the House the Republicans have a majority while the Democrats are in the majority in the Senate?
-------------------- "He isn't Doctor Who, he's The Doctor"
(Paul Sinha, BBC)
Posts: 24276 | From: Newport, Wales | Registered: Apr 2004
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Golden Key
Shipmate
# 1468
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Posted
Yes, re majorities.
I'd really like to see the Republicans formally and legally renounce their own Social Security and Medicare, since they hate them so much.
-------------------- Blessed Gator, pray for us! --"Oh bat bladders, do you have to bring common sense into this?" (Dragon, "Jane & the Dragon") --"Oh, Peace Train, save this country!" (Yusuf/Cat Stevens, "Peace Train")
Posts: 18601 | From: Chilling out in an undisclosed, sincere pumpkin patch. | Registered: Oct 2001
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tclune
Shipmate
# 7959
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Posted
quote: Originally posted by Golden Key: I'd really like to see the Republicans formally and legally renounce their own Social Security and Medicare, since they hate them so much.
The Republicans have never objected to the government throwing money at people -- only to the government throwing money at poor people. The Republican world view sees bankers and CEOs as only being motivated by receiving multi-million dollar handouts, while poor people are demotivated by receiving anything at all.
--Tom Clune
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Posts: 8013 | From: Western MA | Registered: Jul 2004
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romanlion
editorial comment
# 10325
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Posted
quote: Originally posted by Golden Key: I'd really like to see the Republicans formally and legally renounce their own Social Security and Medicare, since they hate them so much.
Well, I'm no republican, but even halfway to eligibility I would gladly renounce both in exchange for exemption from payroll taxes.
Work on it, and sign me up!
-------------------- "You can't get rich in politics unless you're a crook" - Harry S. Truman
Posts: 1486 | From: White Rose City | Registered: Sep 2005
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mousethief
Ship's Thieving Rodent
# 953
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Posted
Is this "supercongress" thing even constitutional? Does't allowing a group that isn't congress to determine spending constitute a wresting of constitutionally-guaranteed powers from congress?
-------------------- This is the last sig I'll ever write for you...
Posts: 63536 | From: Washington | Registered: Jul 2001
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New Yorker
Shipmate
# 9898
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Posted
quote: Originally posted by mousethief: Is this "supercongress" thing even constitutional? Does't allowing a group that isn't congress to determine spending constitute a wresting of constitutionally-guaranteed powers from congress?
I would think it is essentially a joint committee.
Posts: 3193 | From: New York City | Registered: Jul 2005
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Crœsos
Shipmate
# 238
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Posted
quote: Originally posted by mousethief: Is this "supercongress" thing even constitutional? Does't allowing a group that isn't congress to determine spending constitute a wresting of constitutionally-guaranteed powers from congress?
Congress is allowed to let committees handle specific tasks, provided that the committee members are all members of Congress and their work is later voted on by Congress as a whole. The only sticking point is whether the supposed inability of either house of Congress to submit amendments to the Supercongress' recommendations prior to a vote is constitutional and, even if constitutional, if it comports with the existing rules of the House and Senate respectively.
So I guess the short answer is that this kind of peculiarly-constituted joint committee isn't unconstitutional on the face of it, though there may be some detail deep in the works that renders it so.
Part of the problem may have been naming the thing "the Supercongress". If it had been named "the Joint Committee on the Federal Debt Limit" there probably would have been less fuss.
-------------------- Humani nil a me alienum puto
Posts: 10706 | From: Sardis, Lydia | Registered: May 2001
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tclune
Shipmate
# 7959
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Posted
quote: Originally posted by mousethief: Is this "supercongress" thing even constitutional? Does't allowing a group that isn't congress to determine spending constitute a wresting of constitutionally-guaranteed powers from congress?
It doesn't do that, though. All it does is put together a proposal that must be voted up or down by the Congress as a whole. If it is voted down, the fallback cuts that Congress voted as part of the debt ceiling measure would take effect instead.
Admittedly, the mechanism is kind of a shaggy dog put together because Congress doesn't trust itself any more than the rest of the country trusts it, but it doesn't seem to undermine Congress' authority (except to the extent that looking ridiculous undermines authority, but I think that's probably a pretty thoroughly discounted currency for them.)
--Tom Clune
-------------------- This space left blank intentionally.
Posts: 8013 | From: Western MA | Registered: Jul 2004
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Dave W.
Shipmate
# 8765
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Posted
quote: Originally posted by Crœsos: quote: Originally posted by mousethief: Is this "supercongress" thing even constitutional? Does't allowing a group that isn't congress to determine spending constitute a wresting of constitutionally-guaranteed powers from congress?
Congress is allowed to let committees handle specific tasks, provided that the committee members are all members of Congress and their work is later voted on by Congress as a whole. The only sticking point is whether the supposed inability of either house of Congress to submit amendments to the Supercongress' recommendations prior to a vote is constitutional and, even if constitutional, if it comports with the existing rules of the House and Senate respectively.
So I guess the short answer is that this kind of peculiarly-constituted joint committee isn't unconstitutional on the face of it, though there may be some detail deep in the works that renders it so.
Part of the problem may have been naming the thing "the Supercongress". If it had been named "the Joint Committee on the Federal Debt Limit" there probably would have been less fuss.
I agree that "Supercongress" is an unfortunate label, but that's not what it's called in the agreement (the Budget Control Act Amendment) - it's actually the Joint Select Committee on Deficit Reduction.
I've read that it was inspired by the defense Base Realignment and Closure process. None of the nine BRAC commissioners is a serving senator or representative.
Posts: 2059 | From: the hub of the solar system | Registered: Nov 2004
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Golden Key
Shipmate
# 1468
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Posted
And now, of course, most of the Congress critters have scampered away for their August break, leaving the FAA still unfunded, people working unpaid or on furlough, etc.
I really hope that, as the Congress critters fly off to wherever, they encounter inconveniences at the airports--and are told, with huge smiles, "gee, sorry, but a bunch of people have been furloughed, and the rest of us aren't being paid". Or some such.
-------------------- Blessed Gator, pray for us! --"Oh bat bladders, do you have to bring common sense into this?" (Dragon, "Jane & the Dragon") --"Oh, Peace Train, save this country!" (Yusuf/Cat Stevens, "Peace Train")
Posts: 18601 | From: Chilling out in an undisclosed, sincere pumpkin patch. | Registered: Oct 2001
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art dunce
Shipmate
# 9258
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Posted
quote: Mousethief posted: Grow a spine, Barry.
Greatest disappointment since Ken Griffey Jr.
-------------------- Ego is not your amigo.
Posts: 1283 | From: in the studio | Registered: Apr 2005
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Alfred E. Neuman
What? Me worry?
# 6855
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Posted
quote: Originally posted by Golden Key: And now, of course, most of the Congress critters have scampered away for their August break, leaving the FAA still unfunded, people working unpaid or on furlough, etc.
The impasse was over cutting subsidies to 13 small rural airports (under the Essential Air Services Act) that would save the government $16m per year. But with the FAA unable to collect airline ticket taxes during this shutdown, the government is losing almost twice that — $30 million — EVERY DAY.
So far, the amount of revenue lost during the FAA shutdown is $260m and expected to reach $1 billion in revenue losses before the vacationing congress returns. That $1 billion could have subsidized those small airports for 62 years.
The FAA also has issued stop work orders on more than 200 construction projects, furloughing thousands more workers. Welcome to the 2011 Republican jobs creation and budget savings program.
Posts: 12954 | Registered: May 2004
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Porridge
Shipmate
# 15405
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Posted
Oh, now, hey, be fair. The FAA Safety Inspectors are still on the job.
Of course, they're working for free.
-------------------- Spiggott: Everything I've ever told you is a lie, including that. Moon: Including what? Spiggott: That everything I've ever told you is a lie. Moon: That's not true!
Posts: 3925 | From: Upper right corner | Registered: Jan 2010
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RuthW
liberal "peace first" hankie squeezer
# 13
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Posted
quote: Originally posted by Alfred E. Neuman: The impasse was over cutting subsidies to 13 small rural airports (under the Essential Air Services Act) that would save the government $16m per year. But with the FAA unable to collect airline ticket taxes during this shutdown, the government is losing almost twice that — $30 million — EVERY DAY.
The air services to rural areas was just so the tea-baggers could keep talking about cutting stuff. The real issue was airline workers unionizing.
Posts: 24453 | From: La La Land | Registered: Apr 2001
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Timothy the Obscure
Mostly Friendly
# 292
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Posted
quote: Originally posted by RuthW: quote: Originally posted by Alfred E. Neuman: The impasse was over cutting subsidies to 13 small rural airports (under the Essential Air Services Act) that would save the government $16m per year. But with the FAA unable to collect airline ticket taxes during this shutdown, the government is losing almost twice that — $30 million — EVERY DAY.
The air services to rural areas was just so the tea-baggers could keep talking about cutting stuff. The real issue was airline workers unionizing.
And I gather the airports targeted were all in Democratic districts--it was purely cynical gamesmanship, which is par for the course.
It's getting really hard to have any hope for this country at all.
-------------------- When you think of the long and gloomy history of man, you will find more hideous crimes have been committed in the name of obedience than have ever been committed in the name of rebellion. - C. P. Snow
Posts: 6114 | From: PDX | Registered: May 2001
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The5thMary
Shipmate
# 12953
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Posted
quote: Originally posted by art dunce: quote: Mousethief posted: Grow a spine, Barry.
Greatest disappointment since Ken Griffey Jr.
Who is Barry?
-------------------- God gave me my face but She let me pick my nose.
Posts: 3451 | From: Tacoma, WA USA | Registered: Aug 2007
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mousethief
Ship's Thieving Rodent
# 953
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Posted
quote: Originally posted by Paddy O'Furniture: Who is Barry?
Barack Hussein Obama.
-------------------- This is the last sig I'll ever write for you...
Posts: 63536 | From: Washington | Registered: Jul 2001
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Soror Magna
Shipmate
# 9881
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Posted
quote: Originally posted by Timothy the Obscure: quote: Originally posted by RuthW: quote: Originally posted by Alfred E. Neuman: The impasse was over cutting subsidies to 13 small rural airports (under the Essential Air Services Act) that would save the government $16m per year. But with the FAA unable to collect airline ticket taxes during this shutdown, the government is losing almost twice that — $30 million — EVERY DAY.
The air services to rural areas was just so the tea-baggers could keep talking about cutting stuff. The real issue was airline workers unionizing.
And I gather the airports targeted were all in Democratic districts--it was purely cynical gamesmanship, which is par for the course. ...
Most. Expensive. Union-busting. Ever. <no smilie will sufice> OliviaG
Posts: 5430 | From: Caprica City | Registered: Jul 2005
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Josephine
Orthodox Belle
# 3899
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Posted
quote: Originally posted by Apocalypso: Oh, now, hey, be fair. The FAA Safety Inspectors are still on the job.
Of course, they're working for free.
They're also paying their own plane fare, hotel bills, meals, car rental, and the like. And, unlike their co-workers who were furloughed, they can't apply for unemployment.
And you thought indentured servitude was abolished over a century ago.
-------------------- I've written a book! Catherine's Pascha: A celebration of Easter in the Orthodox Church. It's a lovely book for children. Take a look!
Posts: 10273 | From: Pacific Northwest, USA | Registered: Jan 2003
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Porridge
Shipmate
# 15405
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Posted
quote: Originally posted by Josephine: quote: Originally posted by Apocalypso: Oh, now, hey, be fair. The FAA Safety Inspectors are still on the job.
Of course, they're working for free.
They're also paying their own plane fare, hotel bills, meals, car rental, and the like. And, unlike their co-workers who were furloughed, they can't apply for unemployment.
And you thought indentured servitude was abolished over a century ago.
It was? Partner, an adjunct academic, didn't get that memo. Nor did the colleges employing the poor thing.
-------------------- Spiggott: Everything I've ever told you is a lie, including that. Moon: Including what? Spiggott: That everything I've ever told you is a lie. Moon: That's not true!
Posts: 3925 | From: Upper right corner | Registered: Jan 2010
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cliffdweller
Shipmate
# 13338
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Posted
singing my song, apocalypso
-------------------- "Here is the world. Beautiful and terrible things will happen. Don't be afraid." -Frederick Buechner
Posts: 11242 | From: a small canyon overlooking the city | Registered: Jan 2008
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Alfred E. Neuman
What? Me worry?
# 6855
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Posted
And in other news... Standard and Poors, one of the three largest credit rating agencies has just downgraded the US one point to AA+... the first time in history the US government has been rated less than triple-A.
Great timing, waiting for Friday evening after the markets have closed. Watch for a wild ride Monday with the stock market after this week's 800 point Dow Jones drop. [ 06. August 2011, 01:19: Message edited by: Alfred E. Neuman ]
Posts: 12954 | Registered: May 2004
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Crœsos
Shipmate
# 238
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Posted
quote: Originally posted by Alfred E. Neuman: And in other news... Standard and Poors, one of the three largest credit rating agencies has just downgraded the US one point to AA+... the first time in history the US government has been rated less than triple-A.
Great timing, waiting for Friday evening after the markets have closed. Watch for a wild ride Monday with the stock market after this week's 800 point Dow Jones drop.
It should be remembered that S&P rated all those bad mortgage-backed securities AAA and re-affirmed Lehman's triple-A standing a month before bankruptcy. I'm wondering why Standard & Poor's is taken seriously as a credit-rating agency anymore.
As I mentioned earlier, credit-rating companies are ridiculously harsh in their judgement of government indebtedness and absurdly forgiving of the debts owed by their fellow corporations.
-------------------- Humani nil a me alienum puto
Posts: 10706 | From: Sardis, Lydia | Registered: May 2001
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mousethief
Ship's Thieving Rodent
# 953
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Posted
quote: Originally posted by Crœsos: It should be remembered that S&P rated all those bad mortgage-backed securities AAA and re-affirmed Lehman's triple-A standing a month before bankruptcy. I'm wondering why Standard & Poor's is taken seriously as a credit-rating agency anymore.
Exactly.
-------------------- This is the last sig I'll ever write for you...
Posts: 63536 | From: Washington | Registered: Jul 2001
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Sober Preacher's Kid
Presbymethegationalist
# 12699
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Posted
Oh I know. But this is the end of an era. Generations of traders and economists have learned to treat US Treasury Bonds as risk-free. That is no longer true, not after the shenanigans over the debt ceiling.
FWIW, comically, Canada now has a higher credit rating than the US. We were downgraded on our foreign denominated debt in 1995, but not our domestic debt. Unlike the US, the Government of Canada occasionally borrows in currencies other than the Canadian Dollar.
Shall we play the Last Post for the end of an era?
-------------------- NDP Federal Convention Ottawa 2018: A random assortment of Prots and Trots.
Posts: 7646 | From: Peterborough, Upper Canada | Registered: Jun 2007
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Timothy the Obscure
Mostly Friendly
# 292
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Posted
Somebody, just the other day (I can't be arsed to look it up) said "This isn't how great nations behave." Somebody responded, "Yes it is--this is how they fall."
The USA is like an airliner in a stall, with the crew arguing about who gets to take the controls and fly it into the ground. I can't envision any happy endings here.
-------------------- When you think of the long and gloomy history of man, you will find more hideous crimes have been committed in the name of obedience than have ever been committed in the name of rebellion. - C. P. Snow
Posts: 6114 | From: PDX | Registered: May 2001
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romanlion
editorial comment
# 10325
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Posted
quote: Originally posted by mousethief: quote: Originally posted by Crœsos: It should be remembered that S&P rated all those bad mortgage-backed securities AAA and re-affirmed Lehman's triple-A standing a month before bankruptcy. I'm wondering why Standard & Poor's is taken seriously as a credit-rating agency anymore.
Exactly.
I'm sure that point will be clear in the history books, along with the fact that the speaker of the house was named john bane-er at the time.
Barry finally comes across with some change. That should get him re-elected.
-------------------- "You can't get rich in politics unless you're a crook" - Harry S. Truman
Posts: 1486 | From: White Rose City | Registered: Sep 2005
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mousethief
Ship's Thieving Rodent
# 953
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Posted
quote: Originally posted by Sober Preacher's Kid: Shall we play the Last Post for the end of an era?
We're not dead yet! You just watch, in 20 or 30 years we'll throw off these jackals and rise again from the Boehnervilles to reclaim our place in the sun! Those of us who survive, I mean. The good thing is that we'll be a lot healthier as a populatin because the people with curable but otherwise fatal childhood illnesses won't reproduce. The libertarians will finally get the eugenics they've been longing for. [ 06. August 2011, 04:28: Message edited by: mousethief ]
-------------------- This is the last sig I'll ever write for you...
Posts: 63536 | From: Washington | Registered: Jul 2001
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Golden Key
Shipmate
# 1468
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Posted
So which decline-and-fall or post-apocalyptic story are we playing out?
--"Omega Man" --"The Postman" --"The Road Warrior" --"Wall-E" --"The Fifth Sacred Thing" --"Buffy" (Although Buffy "saved the world--a lot", so we never quite got a full apocalypse. "What, another one?")
-------------------- Blessed Gator, pray for us! --"Oh bat bladders, do you have to bring common sense into this?" (Dragon, "Jane & the Dragon") --"Oh, Peace Train, save this country!" (Yusuf/Cat Stevens, "Peace Train")
Posts: 18601 | From: Chilling out in an undisclosed, sincere pumpkin patch. | Registered: Oct 2001
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