To default or not to default?

Poll

With whom do you most agree on the "default" issue -- Webster Tarpley or the Austrian School?

The Austrian School.
Webster Tarpley.
Other (please explain).

Author Topic: To default or not to default?  (Read 61429 times)

0 Members and 1 Guest are viewing this topic.

Offline citizenx

  • Member
  • *****
  • Posts: 9,086
Re: To default or not to default?
« Reply #40 on: February 24, 2011, 07:24:32 PM »
Gee, what happens with food stamps?

You have 43 million people dependent on them now.

Is this the way food will be used as a weapon to engineer a Rothschild revolution in the United States?

Is that a dumb question?

Or, is the $hit really about to hit the fan in a way that wil make the events in Wisconsin look like a church ice cream social?

'Cause I really don't think I'm overthinking this one.

Offline Rebelitarian

  • Member
  • *****
  • Posts: 1,991
Re: To default or not to default?
« Reply #41 on: February 24, 2011, 07:32:12 PM »
The pressure is rising all that's needed is the right catalyst.

Offline citizenx

  • Member
  • *****
  • Posts: 9,086
Re: To default or not to default?
« Reply #42 on: February 24, 2011, 07:38:07 PM »
I think if a gov't. "shutdown" happens, it will be the match that is used to light the kindling.

Everything is being engineered around this I bet.

Huge friggin' psyop.  Monumental. Right around the corner.

Offline Kilika

  • Member
  • *****
  • Posts: 8,762
  • Thank you Jesus!
Re: To default or not to default?
« Reply #43 on: February 25, 2011, 04:13:05 AM »
Quote
Agencies throughout the government are scrambling to figure out how to handle a government shutdown

That's simple. Turn the lights out and GO HOME! Ten after after a few weeks of letting the dust settle, people will realize just how much we don't actually lack from the sudden decrease in the size of government. Then the GSA surplus property auctions can begin.
"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows."
1 Timothy 6:10 (KJB)

Offline citizenx

  • Member
  • *****
  • Posts: 9,086
Re: To default or not to default?
« Reply #44 on: February 25, 2011, 05:37:08 AM »
Well, that's pretty much how I feel about gov't., but I'm not sure how people really would react to a shutdown.

Sometimes, I'm kinda naive about these things myself.

In 92', I didn't think there was going to be a riot in LA.  Boy was I wrong.

And that was actually a little bit dangerous for me at that time.

Offline Kilika

  • Member
  • *****
  • Posts: 8,762
  • Thank you Jesus!
Re: To default or not to default?
« Reply #45 on: February 25, 2011, 06:17:48 AM »
A big part of the problem is the masses have been manipulated into thinking that politicians are suppose to be leaders, but the constitutional truth is that they are nothing more than megaphones for the people. The truth is right there staring the public in the face and they don't see it, and the truth is we call them "representatives" for a reason. The enemies of the state have propped themselves up as leaders and the public in many ways have fallen for the deception.

As we have so clearly seen on the news, it is despots that use force against their own people in defense of their position. Whether it's hired goons running around Tripoli with machetes and AK's, or local police in full battle riot gear at protests in New York City, it's all the same. The kings of the earth have been doing the same tyrannical things for ages. Just because today's swords are titanium and their chariots of carbon fiber, it's still the same battle between kings and those they rule over.
"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows."
1 Timothy 6:10 (KJB)

Offline abanks313

  • Member
  • *
  • Posts: 19
Re: To default or not to default?
« Reply #46 on: February 26, 2011, 05:16:31 PM »
Alright America time for bitching is over we as a nation f**ked up and playing the blame game well quite frankly is childish we need a reality check and I think we deserve it while all you mother f**kers were steady not minding your f**king business, charging everything you can't afford and living beyond your means playing into the hands of these corrupt devils I have lived all my life having to save for what I wanted that's what I learned growing up work hard and save if you can't afford it you don't need it credit should only be handed out when a health housing or serious issue calls for it charging a $5000 TV shouldn't be an option it's sick I sit around watching people in a panic these days paying one credit card bill with another half payment etc. and as they do that they are accumulating more dept. until there next payment  and no not everyone is doing this but the majority is and our government is doing the same also we got tricked sucked however you want to put it we all need a reality check and it's going to hurt this round I love America with all my heart and I come from the lowest form of life the street drug addicted parents the whole 9 yards  I seen hard times beyond the middle and upper class can imagine and I don't want to imagine all of us that way and it's possible if we don't make moves now marching on the government is not going to work and rioting will not work that will lead to masses getting hurt the one thing we have to do is get our own selves in order individually we all need to trim the fat let go of the material objects payoff your debts sit home and live within your means   mind your business worry about America not some other nation that don't care about us stop worrying about Brad Pit and Britney Spears  watch their movies get an autograph or buy a poster then leave them be pay more attention our nation and our money hold the political crooks  responsible for crimes we make up the majority it's our money they're  spending I'm done sorry I had to let myself go like that and some might not like my thought but my thoughts do matter to some and I have a given right to speak remember that and all I'm saying is we all f**ked up the government and the people we need to wake up faster and find a solution before it's beyond fixing please

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Dems Lose First Round of Shutdown Struggle
« Reply #47 on: February 28, 2011, 11:12:21 AM »
http://www.foxnews.com/politics/2011/02/28/dems-lose-round-shutdown-struggle/

Dems Lose First Round of Shutdown Struggle

By Chris Stirewalt
FoxNews.com
Feb. 28, 2011

Dems Back Down on Shutdown; Obama Prepares for Qaddafi Win; Riots Squeeze U.S. Consumers; Wisconsin Battle Coming to a Head; Daniels Bashes “Hot Tub” Democrats

GOP Takes First Round in Federal Shutdown Fight

“After two years in control, it’s hard for them to understand what it’s like to share power.”


-- A senior House GOP aide to Power Play describing the about face from Senate Democrats on a short-term spending bill proposed by Republicans.

A stunning reversal from Senate leaders last week on a Republican plan to keep the government running beyond Friday’s deadline reveals the growing understanding among Democrats that a government shutdown could be politically disastrous for them.

That’s also reflected in a new poll on a potential shutdown conducted for The Hill that shows voters would blame Democrats over Republicans 29 percent to 25 percent. That compares to the two-to-one margin by which voters blamed Republicans ahead of the 1995 shutdown.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Government Shutdown Polling Spooks Pols
« Reply #48 on: March 02, 2011, 04:34:55 PM »
Government Shutdown Polling Spooks Pols
While Senate Democrats and GOP do not want a shutdown, both are nervous about the political consequences.

By JOHN FUND
The Wall Street Journal
March 2, 2011

Senate Democrats blinked this week and agreed to some budget cuts in exchange for GOP support of a two-week extension of funding for the government. The reason was simple: the polls.

While neither party is itching for a shutdown, both are nervous about the political consequences. And two new polls show that the public would spread the blame around if a government shutdown occurred.

The Pew Research folks found in a poll of all adults that 36% would blame the GOP more, versus 35% who would blame Democrats. A week before the 1995 government shutdown, polls showed the public blamed Republicans by a 2-to-1 margin.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Spending plans fail in Senate; 9 days till government shutdown
« Reply #49 on: March 09, 2011, 05:52:04 PM »
http://www.latimes.com/news/politics/la-pn-senate-budget-votes-20110310,0,7174558.story

Spending plans fail in Senate; 9 days till government shutdown

The Senate fails to advance the House-approved spending bill or an alternative Democratic plan. President Obama is facing greater pressure to influence the congressional debate.

By Michael A. Memoli
Los Angeles Times
March 9, 2011

Reporting from Washington As expected, the U.S. Senate failed Wednesday to advance either the House Republicans' spending bill or an alternative proposal offered by Democrats, leaving lawmakers just nine days to work on a compromise plan or face a government shutdown.

Neither plan achieved even a simple majority of support in the chamber. The vote in the Senate was 56-44 against the plan approved by the Republican-led House last month, which would cut current spending levels by $61 billion. A subsequent vote on the alternate proposal from Senate Democrats, which offers cuts of $6.5 billion, failed 58-42. Sixty votes were needed to advance the measures.

The vote comes as President Obama faces new pressure to exert greater influence over the congressional debate. As the Senate readied for votes on the competing measures Tuesday, freshman Democrat Sen. Joe Manchin (W.Va.) accused both parties of engaging in "political theater."

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Rebelitarian

  • Member
  • *****
  • Posts: 1,991
Re: To default or not to default?
« Reply #50 on: March 09, 2011, 06:03:15 PM »
End the FED.

Re-open government.

Issue Debt free money.

 ;)

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Budget Impasse Increasing Risk of U.S. Shutdown
« Reply #51 on: March 26, 2011, 09:57:23 AM »
http://www.nytimes.com/2011/03/26/us/politics/26fiscal.html?partner=rss&emc=rss

Budget Impasse Increasing Risk of U.S. Shutdown

By CARL HULSE
The New York Times
March 25, 2011

WASHINGTON — With time running short and budget negotiations this week having reached an angry impasse, Congressional leaders are growing increasingly pessimistic about reaching a bipartisan deal that would avert a government shutdown in early April.

Senior Democratic officials involved in high-level efforts to bring House Republicans, Senate Democrats and the White House to a budget agreement said that while some progress had been made toward an accord on an overall level of spending cuts, the parties remained divided on the final figure and had to resolve the fate of ideologically charged policy provisions demanded by House conservatives.

Some senior Republicans, after relying on House Democrats to help pass the most recent short-term measure, are also uneasy about having to team up with Democrats again to pass any compromise that dips too far below the $61 billion in spending reductions endorsed by the House for the current fiscal year. Senate Democrats want to wring some of the savings out of mandatory spending programs like Medicare, an approach Republicans are resisting.

Aides said that even if myriad outstanding issues were resolved and an agreement struck late next week after lawmakers returned, it would be a challenge to write the legislation and move it through Congress before the current financing bill expires on April 8.

“A deal is still possible, but it would take a real breakthrough,” said one senior official, who like others knowledgeable about the confidential budget negotiations would discuss them only without being publicly identified.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Amos

  • Member
  • *****
  • Posts: 2,261
Re: To default or not to default?
« Reply #52 on: March 26, 2011, 10:42:19 AM »
Just what kind on impact would a shutdown have?

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Re: To default or not to default?
« Reply #53 on: March 26, 2011, 10:47:58 AM »
Just what kind on impact would a shutdown have?

Read the excerpt from Webster Tarpley's radio show at the top of page one of this thread.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Fiscal Showdown Looms in Capitol
« Reply #54 on: March 28, 2011, 11:03:06 AM »
http://online.wsj.com/article/SB20001424052748703576204576227182502635622.html

Fiscal Showdown Looms in Capitol

By JANET HOOK And DAMIAN PALETTA
The Wall Street Journal
March 28, 2011

The White House and Democratic lawmakers, with less than two weeks left to avoid a government shutdown, are assembling a proposal for roughly $20 billion in additional spending cuts that could soon be offered to Republicans, according to people close to the budget talks.

That would come on top of $10 billion in cuts that Congress has already enacted and would represent a deeper reduction than the Obama administration and Senate Democrats had offered previously in negotiations. But it isn't clear that would be enough to satisfy Republicans, who initially sought $61 billion in spending cuts and face pressure from tea-party activists not to compromise.

GOP Congressional aides said they had not received a new proposal from the White House over the weekend.

With the federal deficit projected to rise to a record $1.65 trillion this year, how Washington is going to control government spending has become the central point of dispute between the parties.

Congress returns from a weeklong recess Monday facing an array of budget issues, including a deadline of April 8 to reach agreement on a spending plan for the current fiscal year.

With negotiations on the current-year budget proving difficult, leaders of both parties are trying to broaden the discussion.

House Republicans are preparing a budget resolution for 2012 that would make major spending reductions in entitlement programs such as Medicare and Medicaid, and give states more flexibility in how they spend federal Medicaid money.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Government Shutdown Grows Likelier
« Reply #55 on: March 29, 2011, 02:37:58 PM »
http://online.wsj.com/article/SB10001424052748703739204576229131946644972.html

Government Shutdown Grows Likelier

By CAROL E. LEE And JANET HOOK
The Wall Street Journal
March 29, 2011


Senate Majority Leader Harry Reid at a 'Back Off Social Security' rally on Capitol Hill Monday. A deal to fund the
government is slipping away.


Talks between congressional leaders and the White House on a deal to fund the government for the rest of the year appear to have slowed, with Democrats and Republicans loudly bickering over the fate of their negotiations.

Failure to reach a deal by April 8, a milestone that appears increasingly difficult to achieve, would result in a government shutdown. In the absence of any visible signs of progress on negotiations, Democrats and Republicans on Monday ratcheted up criticism of each other.

Senate Majority Leader Harry Reid (D., Nev.) said negotiations had stalled because GOP leaders refused to compromise on their party's plan to cut $61 billion in the remaining six months, in part because they were under pressure from tea-party activists.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Seroquel XR

  • Member
  • ****
  • Posts: 358
Re: To default or not to default?
« Reply #56 on: March 29, 2011, 02:59:25 PM »
WTF?!?!  ???

WASHINGTON (AP) — With the clock ticking toward a possible GOVERNMENT SHUTDOWN, spending-cut talks between Senate Democrats and the Republicans controlling the House have broken off in a whom-do-you-trust battle over legislation to keep operations running for another six months.

Democrats have readied a proposal to cut $20 billion more from this year's budget, a party official said, but they haven't yet sent it to House Republicans. That's because they say it's unclear whether the majority Republicans would accept a split-the-difference bargain they'd earlier hinted at or will yield to demands of tea party-backed GOP freshmen for a tougher measure.

The official spoke only on condition of anonymity to discuss internal deliberations.

http://www.optimum.net/News/AP/Article?fmId=52019592
“Insanity - a perfectly rational adjustment to an insane world.”-R. D. Laing
Making a Killing:The Untold Story of Psychotropic Drugging.

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
A $6 Billion Fight That Could Shut Down the Government?
« Reply #57 on: March 30, 2011, 06:46:56 PM »
http://www.theatlantic.com/politics/archive/2011/03/a-6-billion-fight-that-could-shut-down-the-government/73225/

A $6 Billion Fight That Could Shut Down the Government?

Billy House and Humberto Sanchez
The Atlantic
Mar 30 2011

The difference between a government shutdown or not might come down to just $6 billion in a $3 trillion-plus budget.

Senate Democrats asserted on Tuesday that the two sides are only $6 billion apart from a deal to fund the government for the remainder of the fiscal year, which ends on September 30, and urged House Republicans to come to the Senate to hash out a compromise.

"We are ready to find common ground," said Senate Majority Leader Harry Reid, D-Nev.

Republicans disputed Democrats' account of events and stressed any talk of a deal is premature.

"There are a lot of numbers that have been discussed and thrown around," House Speaker John Boehner, R-Ohio, said on Tuesday. "The fact is, there's not an agreement [among] numbers. And secondly, nothing's agreed to until everything is agreed to."

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
The Political War In Washington Threatens A Government Shut Down
« Reply #58 on: March 31, 2011, 12:08:09 PM »
http://www.globalresearch.ca/the-political-war-in-washington-threatens-a-government-shut-down/24061

The Political War In Washington Threatens A Government Shut Down

by Danny Schechter



Global Research
March 31, 2011

     "Political Language is designed to make lies sound truthful and murder respectable"... George Orwell

Forget Libya; the real bombing is not underway there. Pay less attention to Pakistan; the drone attacks there pale in comparison.

The real US war is about to erupt in Washington pitting those who believe government has a necessary role to play and those determined to weaken it.

The former understand that, without regulations, without rules, without programs for those in need, we could have a system collapse maybe even an uprising that will make Wisconsin look like a real tea party.

But America's would be political suicide bombers could care less. They are on a holy our way or the highway mission.

What would a shutdown mean? The Boston Globe calls it a “downshift,”

    “A federal 'shutdown’ is more like a massive downshift — the federal government reaches too deeply into the crevices of daily American life to close. Social Security payments would still be made. Air traffic controllers would scan the skies. The mail should arrive at the doorstep.”

There are problems; apparently no one realized in the last shut down when the National Institute of Health was closed, no one was left to feed the lab animals. Ah, but who cares about them?

You can be sure the Republicans won’t defund the military in part because their operation is run like a military campaign complete with deceptive propaganda and iron discipline.

Already conservatives are blaming Democrats for the problem, and, naturally praising themselves.

Here’s House Majority Leader Eric Cantor, “House Republicans continue to offer serious solutions to get our fiscal House in order, but we cannot keep doing it alone. If Senators Reid and Schumer insist on shutting down the government because they want to protect every last dollar and cent of federal spending then that will be on their hands."

Democrats like New York's Schumer are firing back by calling them “extreme," “instead of lashing out at Democrats in a knee-jerk way, we hope House Republicans will finally stand up to the Tea Party and resume the negotiations that had seemed so full of promise."

Each party is blaming the other. Each deploys message points. Each acts sanctimoniously.

And, as the Zogby Poll illustrates, the public is, predictably confused.

"Voters are split on whether they are concerned about a possible government shutdown, and if they agree that a temporary shutdown would be a good thing because it will force spending cuts. Democrats, however, are much more likely than Republicans to be concerned and much less likely to think it would be a good thing."

It’s an institutional failure, not just a political one. In the end, if negotiations fail, America's least approved institution, the Congress itself, will find itself rejected and disrespected by more Americans!

Make no mistake: behind the rhetoric, the hard-line ideological right is on a war footing. They don’t care who they will hurt, and are hell bent in shutting down the government, in defunding any programs Democrats like or people need. They are not into compromise, conciliation or even dialogue.

In response, the center operates more like the flabby do gooders of the Salvation Army, trying to save what it can, trying to keep their unraveling coalition together, compromising and colluding with whomever it can.

In contrast, the right is more like a more muscular Marine Corps, determined to seize that hill, in this case, Capitol Hill. They are, in one sense, true Jihadists in suits, on a mission from God, and in this case, the great deity’s chosen representatives on earth like the Billionaires, Koch Brothers and Rupert Murdoch.

This is not about Money; it is about power. And it is coming to a head soon. Each party is scurrying to get the best deal but a large number of diehards have wrapped themselves in “live free or die” banners and are willing to take the government down with them.

It is a calculated tactic, akin to holding the country hostage, by creating a crisis that only they can solve, when their opponents cave into their demands, that is.

In essence it says to pols in Washington; do what we demand or we take your government away!

Writes David Johnson of the GOP, “Their election strategy for 2010 was to obstruct everything and keep the economy from creating jobs, and then blame Democrats. It worked. So now they're doing it even more. But is that the whole plan? In every instance Republicans are obstructing the very things that can help the economy recover and provide the jobs people need. Everything they do is aimed at making things worse. It is hard to understand their actions except as a systematic attempt to blow up the economy.”

Tom Franck called Republicans the “Wrecking Crew” in a book of the same name well before they were able to beat up on a flabby, dispirited and poorly organized Democratic Party led by a President who wants to be everyone’s friend. Time Magazine said of his book,

    “Frank offers one damning anecdote after another. The Wrecking Crew explains how cynical conservatives have wrested control of the government by railing against its very existence, all while using federal perches to funnel billions into the pockets of lobbyists and the corporations they represent.”

A Steve Koss explains, “According to Frank, the conservative worldview is totally committed to "the ideal of laissez faire, meaning minimal government interference in the marketplace, along with hostility to taxation, regulation, organized labor, state ownership, and all the business community's other enemies.

    "The conservative movement promotes the interests of business exclusively over all else in accordance with the motto, 'More business in government, less government in business.' So-called 'big government,' also tagged as the liberal state, is the enemy; in fact, virtually all government is the enemy, other than the national defense.“

That said, where are we now?

The Daily Beast reports, “Senate Democrats are preparing to offer $20 billion in new spending cuts in order to avoid a government shutdown- but will it be enough for the Tea Party? (DS: They are now up to $30 B) The offer, which is Democrats' highest yet, comes on top of $10 billion in cuts that have already been enacted. The House GOP, however, has so far stood by its demand for $61 billion in cuts as it faces pressure from the Tea Party activists. Congress returns from recess Monday and has until April 8 before funding runs dry.”

On the sidelines is an emboldened Wall Street, “resurrected” in the words of the National Journal, into “a global financial elite even less under U.S. control than before the crash.” Its many lobbyists are hard at work toning down the rules that will govern the financial reform bill.

They are shifting their political money to Republicans, some even recognizing that the Tea Party is their best friend all in the name of the “free: (sic) market.”

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Tea party rally draws small government ‘shutdown’ crowd
« Reply #59 on: March 31, 2011, 07:41:59 PM »
http://www.politico.com/news/stories/0311/52343.html

Tea party rally draws small government ‘shutdown’ crowd

By MARIN COGAN
POLITICO.com
March 31, 2011

At a tea party rally outside the Capitol Thursday, the pressures facing Republican leadership as it navigates a budget impasse were on full display.

Tea party leaders and Republican politicians repeated similar talking points — that they did not want the government to shut down and that the onus was on Senate Democrats to finalize a deal that would keep the government funded through the rest of the fiscal year.

The only problem? Whenever they pushed to avoid a shutdown, the crowd of roughly 200 people kept getting in the way.

“They say if we go to a government shutdown, we need to make sure that everyone knows it’s the tea party’s fault,” Tea Party Patriots co-founder Jenny Beth Martin said, characterizing the Democratic strategy to the crowd.

She was met with shouts of “Yeah, that’s right, it is!” and “Shut it down!” before she was able to finish, saying, “A government shutdown is Congress’s fault!”

When Rep. Mike Pence (R-Ind.) told the protesters that “nobody wants the government to shut down, but if we don’t take a stand, we’re going to shut down the future of our children and grandchildren,” he was interrupted by a tea partier yelling, “Yes we do!”

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Budget Battle: Is the Government on the Brink of a Shutdown?
« Reply #60 on: April 04, 2011, 11:02:15 AM »
http://abcnews.go.com/Politics/budget-showdown-government-brink-shutdown/story?id=13277834

Budget Battle: Is the Government on the Brink of a Shutdown?

Tea Party Supporters Say $33 Billion Figure Not Enough; Democrats, Republicans Find Little Common Ground

By HUMA KHAN
ABC News
April 4, 2011

Members of Congress are working behind closed doors to hash out a deal to fund the government for the remainder of the fiscal year as federal workers nervously prepare contingency plans.

But just five days away from the deadline, the threat of a government shutdown looks more real than it has in recent weeks as pressure from the Tea Party and conservative lawmakers mounts.

Democratic sources indicated last week that the two sides had agreed $33 billion would be slashed from the 2011 budget. But the GOP leadership has downplayed those reports amid calls from their caucus that the number is far from acceptable.

"Heck no, it's not enough," freshman Rep. Joe Walsh, R-Ill., a Tea Party supporter, told ABC News. "The deficit and the debt that we're under right now demand a bigger number.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Obama Rejects Latest GOP Spending Bill as Government Shutdown Looms
« Reply #61 on: April 05, 2011, 05:03:29 PM »
http://www.foxnews.com/politics/2011/04/05/house-senate-leaders-head-white-house-ditch-dealing-budget/

Obama Rejects Latest GOP Spending Bill as Government Shutdown Looms

by Trish Turner and Chad Pergram
FoxNews.com
April 05, 2011

A visibly frustrated President Obama said Tuesday that Democrats have agreed on how much to cut from the budget and that he won't accept another temporary spending bill that House Republicans are rallying behind to prevent a government shutdown this weekend.

"We've already done that twice," Obama said in a surprise appearance at the White House briefing room. "That is not a way to run a government. "I can't have our agencies making plans based on two-week budgets."

Obama said both sides are closer than ever to a deal and that politics shouldn't stand in the way of preventing a shutdown that would harm the economic recovery.

"There is no reason why we should not get an agreement," Obama said. "At a time when the economy is just beginning to grow, the last thing we need is a disruption that's caused by a government shutdown."

House Speaker John Boehner and Senate Majority Leader Harry Reid were to meet on Capitol Hill later Tuesday to continue negotiations, Obama said, adding that if that meeting does not lead to a deal, he would summon the pair back to the White House Wednesday.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
http://www.huffingtonpost.com/john-conyers/looming-government-shutdo_b_845259.html

Looming Government Shutdown Reveals House Leadership's Fiscal Irresponsibility and Willingness to Put Americans At Risk

by Rep. John Conyers
TheHuffingtonPost.com
April 5, 2011

Based on their absolute refusal to compromise on the Federal budget, Tea Party adherents in the Republican party will force the government to shutdown at the end of Friday. Just last week, Tea Party Republicans traveled to the Nation's capital to urge the House Republican Majority not to compromise with Democrats in funding the government. Unfortunately, out of fear of alienating their Tea Party friends, House Republican leadership appears to lack the political will to put the interests of our country first.

While Tea Party Republicans insist on hard-line calls for fiscal responsibility and many other House Republicans demand social policy provisions, the impact of their actions reveals their fiscal irresponsibility and willingness to put other Americans at risk. Hopefully history will not repeat itself.

As demonstrated by the five-day government shutdown in November 1995 during the House Republican majority, American taxpayers lost an estimated $750 million, according to ABC News. The processing of Social Security and Medicare checks was delayed. Other adverse consequences of the shutdown, as reported by the nonpartisan Congressional Research Service, included:

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Shutdown Looms Without Further Meeting Between White House, Congress
« Reply #63 on: April 06, 2011, 02:40:50 PM »
http://www.foxnews.com/politics/2011/04/05/house-senate-leaders-head-white-house-ditch-dealing-budget/

Shutdown Looms Without Further Meeting Between White House, Congress

by Trish Turner and Chad Pergram
FoxNews.com
April 06, 2011

The impasse between the White House and Congress increasingly looks like it will force the government to shut down by the weekend, with a spending summit yielding no deal on Tuesday.

President Obama said he would like to meet with congressional leaders every day until the stalemate over funding the government for the rest of the fiscal year is solved, but as of Tuesday evening no additional meetings were on the calendar.

"Myself, Joe Biden, my team -- we are prepared to meet for as long as possible to this resolved," a visibly frustrated Obama said during a surprise appearance at the White House briefing room.

The Tuesday summit with the president, House Speaker John Boehner and Senate Majority leader Harry Reid seemed only to aggravate the two sides, and a followup meeting between the two congressional leaders didn’t seem to make any progress of funding the government through Sept. 30.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Re: Tea party rally draws small government ‘shutdown’ crowd
« Reply #64 on: April 06, 2011, 02:49:35 PM »
http://www.politico.com/news/stories/0311/52343.html

“They say if we go to a government shutdown, we need to make sure that everyone knows it’s the tea party’s fault,” Tea Party Patriots co-founder Jenny Beth Martin said, characterizing the Democratic strategy to the crowd.

She was met with shouts of “Yeah, that’s right, it is!” and “Shut it down!” before she was able to finish, saying, “A government shutdown is Congress’s fault!”

When Rep. Mike Pence (R-Ind.) told the protesters that “nobody wants the government to shut down, but if we don’t take a stand, we’re going to shut down the future of our children and grandchildren,” he was interrupted by a tea partier yelling, “Yes we do!”

I'd be interested to know how many of the right-wing reactionaries who made up this "shutdown crowd" were retired military:

--------------------------------

“It’s similar to what the Republican operatives did, now, with their manipulation and duping of the Tea Party. They made the Tea Party as narrow as they could. That is to say, there were no Ron Paul people at the Tea Party, there were no PUMA Democrats, there was no anti-war in any way. You had to be a warmonger to get into the Tea Party. This makes no sense.

“Now, let’s just look at the interesting example here [in] Washington last Saturday [3/20/10]….We had two demonstrations going on: we had the tea baggers at the Capitol, and then we had the peaceniks at the White House.  Now, let’s look at the tea baggers first. I had the opportunity to visit both of these. The thing that you see with the tea baggers is, of course, this is a lily-white group. This is a rather comfortable, rather well-heeled, middle class group. The main thing you see with the Tea Party is that these are retired military, retired military, retired military. I had a chance to talk to quite a few of them, and, lo and behold, in the course of most conversations it would turn out that this was retired military. They would come with their hats, the ship that they were on, their Army or Marines t-shirt at all ages, and so forth. They’re retired military. So what does that mean? It means that they have got their piece of the federal budget. They’re all on U.S. government military pensions. They’re all available to get TRICARE, or Veterans Administration medical care. There’s an element of hypocrisy in this -- and I’m sorry -- which is: ‘I’ve got my piece of the federal budget, I’ve got my pension, I’ve got my health care for life, and you can be damned!’ The thirty or forty million [without health insurance] they don’t care about. So there’s essentially an element of bad faith at the heart of this.

“And, of course, the people running this are all Republican operatives. They’re all Republican think-tankers. We’ve gone through it before: Richard Mellon Scaife, Competitive Enterprise Institute, Heartland Institute, Dick Armey (Republican leader) -- they're all a bunch of Republicans.”

—Webster Tarpley, World Crisis Radio broadcast, 3/27/10, 1st hour

--------------------------------
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Re: To default or not to default?
« Reply #65 on: April 06, 2011, 03:06:37 PM »
Although left-wing gatekeeper, Noam Chomsky, is wrong on several issues (e.g., 9/11 truth, gun control, etc.), he nevertheless has provided many piercing insights over the years.

The following two excerpts are an illustration of this, and since they bear directly on the subject matter of this thread, I thought I'd post them here for everyone to read and consider:

----------------------------------

“…the Wall Street Journal ran a story headlined ‘What Fidelity Wants It Usually Gets, And It Wants Massachusetts Tax Cut.’ It opened by stating that ‘when Fidelity Investments talks, Massachusetts listens’ -- or else.

“Massachusetts listens, the article explains, because Fidelity is one of the biggest firms in the state and can easily shift operations across the border to Rhode Island. That was exactly what it was threatening to do unless Massachusetts granted it ‘tax relief’ -- a subsidy, in effect, since ‘the people’ pay more taxes to compensate for it. (New York recently had to do the same, when major financial firms threatened to move to New Jersey.) Massachusetts granted Fidelity the ‘relief.’

"A few months earlier, Raytheon had demanded tax and utility rate relief, perhaps to compensate for the fact that its shares had only about tripled in value in the past four years, while dividends per share rose 25% as well. The report on the business pages raised the (rhetorical) question whether Raytheon ‘is asking for tax dollars with one hand while passing money to shareholders with the other.’

"Again, Massachusetts listened to the threat to transfer out of state. Legislators had planned a big tax break for Massachusetts businesses generally, but restricted it to Raytheon and other ‘defense contractors.’

"It’s an old story. Until the late 19th century, corporations were limited to functions explicitly determined by the state charters. That requirement effectively disappeared when New Jersey offered to drop it. Corporations began incorporating in New Jersey instead of New York, thus forcing New York to also drop the requirement and setting off a ‘race to the bottom.’

“The result was a substantial increase in the power of private tyrannies, providing them with new weapons to undermine liberty and human rights, and to administer markets in their own interest. The logical is the same when GM decides to invest in Poland, or when Daimler-Benz transfers production from Germany, where labor is highly paid, to Alabama, where it isn’t.

“By playing Alabama off against another competitor, North Carolina, Daimler-Benz received subsidies, protected markets and risk protection from ‘the people.’ (Smaller corporations can get into the act too, when states are forced to compete to bribe the powerful.)

“Of course, it’s far easier to play this game with states than countries. For Fidelity to move to Rhode Island, and for Raytheon to move to Tennessee, is no major problem -- and Massachusetts knows it. Transferring operations overseas would be rather more difficult.

“’Conservatives’ are surely intelligent enough to understand that shifting decisions to the state level does not transfer power to ‘the people’ but to those powerful enough to ask for subsidies with one hand and pocket them with the other. That’s the ‘profound philosophical principle’ that underlies the efforts of ‘conservatives’ to shift power to the states.

“There are still some defenses at the federal level, which is why it’s been made the enemy (but not, of course, the parts that funnel money to large corporations -- like the Pentagon, whose budget is going up, over the objections of more than 80% of the people).

“According to a poll reported in the Washington Post, an enormous number of people think anything the federal government does is bad -- except for the military, which we need (of course) to counter grave threats to US security. (Even so, people didn’t want the military budget increased, as Clinton, Gingrich and the others proceeded to do.) What could explain this? the Post wondered.

“Could it be the fifty years of intense corporate propaganda, in the media and elsewhere, that have been trying to direct people’s fear, anger and hatred against the government and make private power invisible to them? That isn’t suggested as a reason. It’s just a mystery why people have these strange ideas.

“But there’s no question they have them. When somebody wants to vent his anger at the fact that his life is falling apart, he’s more likely to put a bomb in federal building than in a corporate headquarters.

“There are plenty of things wrong with government, but this propaganda opposes what’s right with it -- namely, that it’s the one defense people have against private tyrannies.”

--Noam Chomsky, The Common Good, pp. 20-22


“The Argentine government is in the grips of a neoliberal frenzy, obeying the orders of international financial institutions like the World Bank and the IMF. (Neoliberalism is basically nothing more than the traditional imperial formula: free markets for you, plenty of protection for me. The rich themselves would never accept these policies, but they’re happy to impose them on the poor.)

“So Argentina is ‘minimizing the state’ -- cutting down public expenditures, the way our government is doing, but much more extremely. Of course, when you minimize the state, you maximize something else -- and it isn’t popular control. What gets maximized is private power, domestic and foreign.

“I met with a very lively anarchist movement in Buenos Aires, and with other anarchist groups as far away as northeast Brazil, where nobody even knew they existed. We had a lot of discussions about these matters. They recognize that they have to try to use the state -- even though they regard it as totally illegitimate.

“The reason is perfectly obvious: When you eliminate the one institutional structure in which people can participate to some extent -- namely the government -- you’re simply handing over power to unaccountable private tyrannies that are much worse. So you have to make use of the state, all the time recognizing that you ultimately want to eliminate it.

“Some of the rural workers in Brazil have an interesting slogan. They say their immediate task is ‘expanding the floor of the cage.’ They understand that they’re trapped inside a cage, but recognize that protecting it when it’s under attack from even worse predators on the outside, and extending the limits of what the cage will allow, are both essential preliminaries to dismantling it. If they attack the cage directly when they’re so vulnerable, they’ll get murdered.

“That’s something anyone ought to be able to understand who can keep two ideas in their head at once, but some people here in the US tend to be so rigid and doctrinaire that they don’t understand the point."

--Noam Chomsky, The Common Good, pp. 84-85

----------------------------------
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline freedom_commonsense

  • Member
  • *****
  • Posts: 2,034
Re: To default or not to default?
« Reply #66 on: April 06, 2011, 03:14:28 PM »
It's always the case Geolib. Those that have it comfortable in the middle class will attack the poorer classes below them, in the misguided belief that it's where their taxes go. Not to mention the Malthusian bias.

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Re: To default or not to default?
« Reply #67 on: April 06, 2011, 06:35:38 PM »
It's always the case Geolib. Those that have it comfortable in the middle class will attack the poorer classes below them, in the misguided belief that it's where their taxes go. Not to mention the Malthusian bias.

Yet because they've wrapped themselves in the flag of "liberty," they continue to get away with providing political cover to the financial terrorists on Wall Street who engineered this crisis in the first place.

Unfortrunately for the future of this great nation, the Austrian School propaganda machine has done its job all too well.
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

worcesteradam

  • Guest
Re: To default or not to default?
« Reply #68 on: April 06, 2011, 06:41:06 PM »
i thought it was the lower class unions attacking the middle classes

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Re: To default or not to default?
« Reply #69 on: April 06, 2011, 06:46:17 PM »
i thought it was the lower class unions attacking the middle classes

You thought wrong.

It's the top 1% attacking the bottom 99%:

       http://forum.prisonplanet.com/index.php?topic=162212.msg976255#msg976255

“There’s class warfare, all right, but it's my class, the rich class, that’s making war, and we’re winning.”

-- Warren Buffet, New York Times, November 26, 2006
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Reid Not Optimistic About Avoiding Government Shutdown
« Reply #70 on: April 07, 2011, 10:58:04 AM »
http://thecaucus.blogs.nytimes.com/2011/04/07/reid-not-optimistic-about-avoiding-government-shutdown/

Reid Not Optimistic About Avoiding Government Shutdown

By MICHAEL D. SHEAR
The New York Times
April 7, 2011

Senator Harry Reid of Nevada, the top Democrat in the Senate, said Thursday morning that he is “not nearly as optimistic” about avoiding a shutdown as he was after a Wednesday night Oval Office meeting and said “it looks like it’s headed in that direction.”

Mr. Reid said that Republicans have “drawn a line in the sand” on issues of abortion funding and changes to the clean air act, and he said those issues could not be resolved in the hours left before a government shutdown.

“The numbers are basically there. But I am not as nearly as optimistic, and that’s an understatement, as I was eleven hours ago,” Mr. Reid said on the floor of the Senate. “The only thing holding up an agreement is ideology.”

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
House passes one-week budget bill; Obama vows veto
« Reply #71 on: April 07, 2011, 04:40:54 PM »
http://www.cbsnews.com/8301-503544_162-20051803-503544.html

House passes one-week budget bill; Obama vows veto

by Brian Montopoli
CBS News
April 7, 2011

With a government shutdown looming, the GOP-led House has passed a bill that would fund the government for a week and also fund the Department of Defense for the rest of the fiscal year.

The measure, which includes $12 billion in spending cuts, passed 247 to 181. The vote was largely along party lines, though six Republicans opposed it and 15 Democrats supported it.

The passage was likely symbolic, since it is unlikely to pass the Democrat-led Senate and President Obama has vowed to veto it if it does. It appears designed to boost Republican arguments that Democrats should be blamed if the government shuts down.

In addition to funding the government for another week and providing $516 billion for the Department of Defense, the bill includes a policy provision that would prohibit federal or local funding paying for abortions in Washington D.C.

Republicans cast the measure as a "troop funding" bill and suggested opposing it meant opposing U.S. troops.

"If you vote against this bill you are voting against the troops who are engaged in three wars," said House Appropriations Chairman Hal Rogers, who introduced the measure.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Evangelicals Most Likely To Support Government Shutdown
« Reply #72 on: April 07, 2011, 07:22:25 PM »
http://www.huffingtonpost.com/2011/04/07/evangelicals-most-likely-_n_846387.html

Evangelicals Most Likely To Support Government Shutdown

By Richard Yeakley
TheHuffingtonPost.com
April 7, 2011

WASHINGTON (RNS) A slim majority of evangelicals favor government shutdown over a budget compromise, according to new research by the Pew Research Center for the People & the Press.

The U.S. government will shutter all non-essential services at midnight, Friday (April 08) if congressional Republicans and Democrats cannot reach an agreement on the U.S. budget for the 2011 fiscal year.

With a potential shutdown imminent, 51 percent of evangelicals want lawmakers to "stand by their principles" while 39 percent favored a compromise, according to poll data analyzed by Christianity Today.

Overall, 55 percent of Americans favored a compromise while 36 percent are opposed.

Evangelicals are the most supportive of all major Christian groups for a government shutdown, with other religious groups closer to the national average.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Government shutdown nears
« Reply #73 on: April 08, 2011, 02:41:45 PM »
http://www.cnn.com/2011/US/04/08/government.shutdown/

Government shutdown nears

By the CNN Wire Staff
April 8, 2011

Washington (CNN) -- Federal workers nervously eyed the clock and an American public sharply divided along partisan lines watched from the sidelines Friday as Democrats and Republicans sniped at one another in a budget battle that could shut down the government and idle more than 800,000 people.

Negotiators have until midnight Friday to reach an agreement, or the government's massive gears will begin grinding to a halt.

Should the government shut down, operations from national parks to veterans' clinics would close. The White House visitor center would go dark. Even some government websites would blink out, replaced by virtual closed signs.

But not everything would close.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Sen. Mike Lee: Obama planned government shutdown
« Reply #74 on: April 08, 2011, 02:57:38 PM »
http://www.prisonplanet.com/sen-mike-lee-obama-planned-government-shutdown.html

Sen. Mike Lee: Obama planned government shutdown

Eric W. Dolan
Raw Story
April 8, 2011

Freshman Senator Mike Lee (R-UT) said on the Senate floor Thursday that President Barack Obama might have been planning for the government to shut down all along.

“When the president had both Houses under the control of his party, why did he opt not to pass a budget for fiscal year 2011?” Lee asked.

“It was either irresponsible on one hand or deliberate and malicious on the other with intention to bring about a sequence of events that would culminate inevitably in a government shutdown,” he continued.

Senate Majority Leader Harry Reid (D-NV) conceded Thursday morning that a government shutdown was likely, after a late-night meeting Wednesday between Obama, House Speaker John Boehner, and himself.

The government will be forced to shut down unless a spending measure is approved by midnight on Friday.

Full article here
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Wall Street executives enter debt debate
« Reply #75 on: April 14, 2011, 10:36:08 AM »
http://www.ft.com/cms/s/0/3a648a78-65f8-11e0-9d40-00144feab49a.html?ftcamp=rss#axzz1JVXVgXlO

Wall Street executives enter debt debate

By Stephanie Kirchgaessner and James Politi
The Financial Times
April 13, 2011

The Obama administration is trying to enlist Wall Street executives in the debate over increasing the debt ceiling and convince congressional Republicans that a US default would be catastrophic for markets.

Tim Geithner, US Treasury secretary, has been leading the campaign for the White House, urging executives such as Vikram Pandit of Citigroup, Jamie Dimon of JPMorgan and Brian Moynihan of Bank of America, as well as top insurance industry executives, to point out the dangers of “walking up to the brink” on debt, according to an administration official.

While congressional leaders, including Senator Chuck Schumer of New York, are encouraging executives to speak out against the vote on the debt ceiling being dragged out too long, the administration is urging executives to air their concerns over the debt ceiling to rank-and-file Republicans behind closed doors, where those conversations might have the most impact.

“We are trying to get people in the financial markets to educate Republicans, particularly the new members, that to even threaten to walk up to the brink on this . . . things won’t just revert back to normal,” the administration official said.

“I think too many folks there view it as the government shutdown. That you can turn the faucet off and on. Too many don’t understand the distinction [between the budget debate and the debt ceiling].”

The White House effort marks the first important test of whether President Barack Obama’s efforts to improve relations with the business community are bearing fruit. A move by the country’s top chief executives to endorse the administration’s point of view would not only potentially satisfy their own self-interest, but it would underscore that in fundamental policy areas, business may feel uncomfortable with the anti-government rhetoric by Tea Party conservatives.

A vote to increase the $14,300bn debt ceiling is expected to occur in coming months. While the US would not immediately default on its obligations, officials said a default could occur as early as July.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Bank Of America Analyst Advocates An Intentional Default On US Debt
« Reply #76 on: April 18, 2011, 10:08:42 AM »
http://www.prisonplanet.com/bank-of-america-analyst-advocates-the-unthinkable-an-intentional-default-on-us-debt.html

Bank Of America Analyst Advocates The “Unthinkable” — An Intentional Default On US Debt

Joe Weisenthal
Business Insider
April 18, 2011

We continue to be astounded by the emergence of the pro-default meme within financial circles.

Previously it was Chris Whalen and Dean Baker taking the stance that the US could default with minimal negative ramifications.

Now it’s someone at a major bank: BofA’s credit strategist Jeffrey Rosenberg, whose note from Friday is titled The Case For Default (via @dutch_book).

He explicitly rejects the doom camp, and thinks temporary default could be managed without significant market interruption.

We don’t find his argument to be all that convincing.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
Politics, ideology overshadow debt limit talks
« Reply #77 on: April 20, 2011, 04:41:30 PM »
http://www.reuters.com/article/2011/04/20/us-usa-debt-idUSTRE73J2Z120110420

Politics, ideology overshadow debt limit talks

By Andy Sullivan
Reuters
Apr 20, 2011

(Reuters) - In the looming fight over raising the debt limit, Washington will have its eye on two deadlines: July 2011 and November 2012.

The first is the date by which Congress will likely have to act in order to ensure that the United States doesn't default on its $14 trillion in accumulated debt.

The second deadline is when President Barack Obama and most members of Congress will face voters.

What has often been a routine, if unpleasant, vote could this year turn into a battleground in the 2012 campaign as Republicans and Democrats advance clashing ideological visions of the nation's priorities.

Fresh from pushing through the largest domestic spending cuts in history, Republicans hope to use the debt limit debate as a vehicle to win bigger cuts and satisfy conservative Tea Party activists who handed them control of the House of Representatives last year.

They will also promote a deficit-reduction plan that relies on permanent spending curbs, lower taxes and scaled-back government health programs as they try to wrestle control of the White House and the Senate from Democrats.

Obama and his Democrats will lay out a rival vision of deficit reduction through a mix of lower spending and tax increases for the wealthy, arguing that getting the country's fiscal house in order does not require wholesale cuts to popular programs.

The battle is likely to stretch out for months and could bring the world's most powerful economy to the brink of default -- a prospect that would have far more serious implications for investors and the U.S. economy than the government shutdown that was narrowly averted less than two weeks ago with a last-minute deal on spending reductions.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
GOP Posturing on Debt Ceiling Could Lead to Economic Disaster
« Reply #78 on: April 23, 2011, 10:34:15 AM »
http://www.usnews.com/opinion/articles/2011/04/22/gop-posturing-on-debt-ceiling-could-lead-to-economic-disaster

GOP Posturing on Debt Ceiling Could Lead to Economic Disaster

Now is not the time for political posturing because without action, the U.S. economy will crumble

By Robert Schlesinger
U.S. News & World Report
April 22, 2011

Consider two figures: $38.5 billion and $352 million. Even casual consumers of the news will recognize the first figure, the amount the last-minute compromise cut from the current fiscal year's spending to avert a government shutdown. Hard-line conservatives condemned it as a "hollow victory," while progressives bemoaned President Obama giving Republicans more than the $32 billion they had originally proposed.
 
The second figure reflects the spending deal's fine print. According to the Congressional Budget Office, the deal only cuts actual spending by $352 million. The gap lies in the difference between how much less the government is permitted to spend over fiscal year 2011 versus how much less, net, will actually go out the door before fiscal 2012 starts on October 1.

The numbers offer insight into the tacks taken by major players as the great fiscal 2011 shutdown showdown becomes prologue for the next big spending event: the debt limit debate. The deal gives a good indication, for example, of the optics each side wanted. The GOP looked tough while Obama assumed his favored position of adult in the room. The fine print shows that the White House team is more resourceful than it gets credit for—it seems "they pulled a fast one" on House Speaker John Boehner, says one Senate Democratic aide—while the GOP is less uncompromising than advertised. Those tensions between perception and reality could prove problematic moving forward.

During the spending debate, the GOP used what my U.S. News blogging colleague Susan Milligan has called the "government suicide bomber" approach. It involves one camp being "prepared to bring us all down to advance a political mission," and willing to hold hostage for political leverage a policy outcome that all sides agree is needed.

The stakes in the debt ceiling debate are higher than in the shutdown confrontation. A shutdown could have slowed the economic recovery, but failure to raise the debt ceiling could end it. Here's why:

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0

Offline Geolibertarian

  • Global Moderator
  • Member
  • *****
  • Posts: 13,136
  • 9/11 WAS AN INSIDE JOB! www.911truth.org
The Nation: GOP Is Holding Our Economy Hostage
« Reply #79 on: April 26, 2011, 07:34:36 PM »
http://www.npr.org/2011/04/26/135730642/the-nation-gop-is-holding-our-economy-hostage

The Nation: GOP Is Holding Our Economy Hostage

by George Zornick
NPR
April 26, 2011

George Zornick was Senior Reporter/Blogger for ThinkProgress.org, and writes for The Nation.

The standoff du jour in Washington is about a vote to raise the federal debt ceiling. Democrats and the White House insist it must be done — as does Wall Street — while fiscal conservatives and Tea Party activists are demanding serious concessions, and in some cases, an unconditional "no" vote. As the conversation reaches a crescendo, it's useful to take a quick look at what the debt ceiling actually is, and what forces are at play in the debate.

When the United States needs to borrow money, the Treasury Department issues bonds in order to pay for the deficit spending. Before 1917, Congress had to approve this borrowing every time it happened, but World War I created a need for more flexibility and lawmakers gave the federal government unchecked borrowing powers, provided the total amount was less than a certain limit.

Congress now needs to approve any borrowing past the $14.3 trillion debt ceiling, which the United States will reach "no later" than May 16, according to Treasury Secretary Timothy Geithner. If Congress doesn't raise the debt ceiling, the government would have to stop spending — including stopping interest payments on those Treasury bonds, meaning that the United States would effectively default on its debt.

Opportunistic Republicans have correctly understood this vote as a chance to force Democrats into approving several goals held by fiscal conservatives and the Tea Party. Though the debt ceiling will be reached because of past spending — including many Republican initiatives like the Medicare drug benefit and the costly invasion of Iraq — Republicans insist that concessions on future spending are needed before they will agree to raise the limit.

Senate Minority Leader Mitch McConnell (R-KY) said last month that all 47 Republican Senators were unified in their opposition to raising the debt ceiling unless "credible" efforts were made to cut federal spending. Speaker of the House John Boehner (R-OH) has also said his caucus would not vote to raise the debt ceiling unless "it is accompanied by meaningful action by the President and Congress to cut...the job-killing spending binge in Washington."

Tea Party activists, meanwhile, are working furiously to ensure Republicans in Congress stand firm. The Tea Party Patriots, the largest organized Tea Party group in the country, warned that "Republican credibility as fiscally responsible managers of public resources is on the line" with the debt ceiling vote.

The group is holding a televised town hall this week on the issue, and urging activists to crash Congressional offices on Thursday to demand their representatives hold the line. The far-right website World Net Daily is has already sent 250,000 letters to 242 House Republicans, urging them to vote against a debt limit increase.

[Continued...]
"Abolish all taxation save that upon land values." -- Henry George

"If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

http://schalkenbach.org
http://www.monetary.org
http://forum.prisonplanet.com/index.php?topic=203330.0