Lovebears65
Gold Member
The tax payer lost again as we always do.
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neither...China won
neither...China won
True. China can dictate whatever terms it wants now. They don't even have to negotiate with us at this point. I can hear them laughing.
Give your reasons BRIEFLY
Treasuries rose, pushing the yields on 10-year notes to the lowest level since November, as an index showed U.S. manufacturing expanded in July at the slowest pace in two years.
Yields on benchmark 10-year notes fell five basis points, or 0.05 percentage point, to 2.74 percent at 5:02 p.m. in New York , according to Bloomberg Bond Trader prices. The 3.125 percent securities due in May 2021 gained 14/32, or $4.38 per $1,000 face amount, to 103 8/32.
U.S. stocks slumped. The Standard and Poor’s 500 lost 0.4 percent to 1,286.94 at 4:19 p.m. in New York after climbing as much as 1.2 percent earlier. The Dow Jones Industrial Average retreated 10.75 points, or 0.1 percent, to 12,132.49 today after rising 139 points.
Listen to the whining in the senate. Reid had no plan and now the senate must vote for a Tea Party plan. Who won? Boehner.
from a purely political stand point? The right, no question.
From a practical standpoint? The Left.
BUT, one more time;
this fight has been going on since the first agrarian reforms created the show down between optimate and populare who battled for supremacy in Rome and Italy 2000 years ago........and it will go on.
The is no 'victory', the pendulum swings and the only truth to survive each and every battle along alike lines is; the middle loses almost every time and its most always for the same reason, overreach by both parties in turn.
The real story of the US debt deal is not the triumph of the Tea Party but the death of the Socialist Left
By Toby Young US politics Last updated: August 2nd, 2011
...
Most pundits are crediting this U-turn to the political muscle of the Tea Party and its true that President Obama would never have agreed to this deal if the Tea Party Republicans in the House of Representatives hadnt engaged in the brinkmanship of the past few weeks. But to focus on the Tea Party is to ignore the tectonic political shift thats taken place, not just in America but across Europe. The majority of citizens in nearly all the worlds most developed countries simply arent prepared to tolerate the degree of borrowing required to sustain generous welfare programmes any longer.
As I pointed out in a blog post last May, tax-and-spend Left-wing parties have fared poorly in election after election over the past two years:
Labour was punished by the British electorate last year, polling its lowest share of the vote since 1983, but not as severely as the Social Democrats were by the Swedes, polling their lowest share of the vote since universal suffrage was introduced in 1921
The same picture emerges wherever you look. In the European election in June, 2009, the Left took a hammering. In Germany, the Social Democrats polled just 20 per cent of the vote, their worst result since the Second World War. In France, the Socialist Party only mustered 16.5 per cent, its lowest share of the vote in a European election since 1994. In Italy, the Democrats polled 26.1 per cent, seven percentage points less than they received at the last Italian election. As David Miliband pointed out in a recent lecture: Left parties are losing elections more comprehensively than ever before. They are fragmenting at just the time the Right is uniting. I dont believe this is some kind of accident.
For believers in redistributive taxation and egalitarian social programmes like David Miliband, Obama was the last great hope. Here was a centre left politician capable of building the kind of electoral coalition that underpinned the massive expansions of state power in Britain and America, from Attlees post-war Labour Government to Lyndon Johnsons Great Society. That is, a coalition of the white working class, minorities and middle class liberals. Yet in spite of sweeping to power in 2008 and ensuring the Democrats won in both the House and the Senate, Obama has proved unable to sustain that coalition. Last nights debt deal represents the moment when he acknowledged that trying to maintain the levels of public spending required to fund ambitious welfare programmes is political suicide. Which is why the deal has been greated with cries of impotent rage by the British Left.
In both Britain and America, the Left has been reduced to hoping that cutting public spending on this scale will snuff out economic growth and plunge our respective economies back into recession. Not only will the Coalition be turfed out as a consequence, but if Obama can somehow blame the Tea Party for the double dip he might be able to persuade the people to grant him four more years. What the Left hasnt grasped and what Obama has is that for the foreseeable future no political candidate or party will be able to increase public spending and win re-election. Socialist welfare programmes have become politically toxic. A sea change has taken place within the Wests most developed countries and last nights debt deal is a reflection of that.
The Chinese won. If we are downgraded, they will make more interest on the bonds that they will be shortly buying.
Listen to the whining in the senate. Reid had no plan and now the senate must vote for a Tea Party plan. Who won? Boehner.
This wasn't the Tea Party plan.