Joint Economic Committee is literally burying their head in the sand to defend Obama

[iamwhatiseem]

Read and weep.
The joint committee's logic on the national debt is basically this:
"We know we are in trouble, in fact real trouble...indeed the debt is reaching a point in where together with entitlements - we are approaching a POINT OF NO RETURN..where the only out come is long-term deep recession...but we are not going to really study that...it is too scary, so let's just keep spending".

"We know that the debt is now 100 percent -- approximately 100 percent of (gross domestic product)," said Allan Meltzer, a professor of political economy at Carnegie Mellon University in Pittsburgh. "That doesn't include the unfunded liabilities. It doesn't include (mortgage lenders)Fannie Mae and Freddie Mac. It doesn't include quite a number of other things."

....meaning that much more is promised in benefits than the government -- and taxpayers -- have as a plan to pay for them.

Read more: Committee Searches For Economic 'Tipping Point'; Prefer Not To Find It | Fox News

 

[editec]

IF the bipartisan advisory group does not come to some agreement regarding spending cuts, then cuts will happen automatically.

Those of you who are big fans of the military industrial complex will NOT LIKE what unfolds in that event.

 

[iamwhatiseem]

Hell you can see the "plan" already developing.
This is what the "job creation" bill is all about. Anyone with 1/3rd a brain knows that it isn't a job creation bill- it is a tax increase bill...and a weak tax increase bill at that - like $495 Bn over TEN YEARS is going to make one iota difference. Give us a friggin break.

We are in one helluva mess, and all the joint committee wants to do - as clearly stated by them - is simply look the other way and keep doing what we have been doing...spend, spend and spend. Without even considering a reduction in that spending.
At the same time the Republicans refuse any tax increases whatsoever.
Just another day in OZ.

 

[editec]

Hell you can see the "plan" already developing.
This is what the "job creation" bill is all about. Anyone with 1/3rd a brain knows that it isn't a job creation bill- it is a tax increase bill...and a weak tax increase bill at that - like $495 Bn over TEN YEARS is going to make one iota difference. Give us a friggin break.

We are in one helluva mess, and all the joint committee wants to do - as clearly stated by them - is simply look the other way and keep doing what we have been doing...spend, spend and spend. Without even considering a reduction in that spending.
At the same time the Republicans refuse any tax increases whatsoever.
Just another day in OZ.

I understand and am somewhat sympathetic to your suspicions, IAM.

However if no compromised is reached the cuts that automatically happen are, I am informed, rather draconian, and many of them are going to happen to the DoD budget...that most sacred cow of all sacred cows of the right

I suspect that the joint committee would rather give up half a loaf than all the loaf.

Of course intuiting others' motives is pure speculation, but in this case it does make sense to explaining their moves.

 

[Truthmatters]

they cant play the "debt Ceiling" game wth this one.

That game hurt the right almost as much as it hurt the country.

They would hurt the country without problem but they can not stand to see the party hurt.

Its all they care about.

 

[iamwhatiseem]

they cant play the "debt Ceiling" game wth this one.

That game hurt the right almost as much as it hurt the country.

They would hurt the country without problem but they can not stand to see the party hurt.

Its all they care about.

With the utmost unsmartassery intended.....seriously....how is it possible for someone to be as one-sided as yourself?
Do you honestly believe the Democrat party is placing the needs of the country ahead of their own elections?? Do you believe this?? Do you not realize that people who only critique one party are exactly the reason why we have so much corruption in Washington?
As long as the right and the left have a base that are sheep, that are little minions throwing rocks at the other side all day...meanwhile ignoring the corruption and ineptitude on your own side...absolutely nothing will change.

People like you are why things are so bad. You will vote for one side no matter what.