Round 2 – But it’s NOT Republican Obstructionism – ‘Sen. Toomey: GOP should risk shutdown to force spending cuts in debt-limit fight’

The only problem is…..it’s a little more ‘involved‘ then shutting down the Government. We are not a third World Nation. A ‘default’, be it planned and temporary, would shake, rattle and roll the Global Economy.

It wouldn’t just stop the recovery. It would stop any chance of a recovery for a decade.

The Global Economy runs on the US dollar.

‘Worst Case Scenario: 7 Potential Consequences Of A U.S. Debt Default’
1.’Plummeting equities: When Lehman Brothers failed, the Dow Jones Industrial Average dropped 504 points in one day, and kept falling for months afterward. A default by the United States on its debt could hit even harder’.

2.’Missing payments: the government borrows about 40% of what it spends every day. If it can’t borrow, then it will have to cut spending by 40% immediately’.

3.’If lawmakers allow a U.S. debt default, S&P says it will cut the country’s credit from AAA to D’.

4.’States and cities: Likewise, states and municipalities would face higher borrowing costs, since their rates, too, are tied to Treasurys’.

5. ‘Credit crunch: Higher borrowing costs and financial turmoil could lead to another credit crunch like the one we saw following the Lehman Brothers collapse. And that would further strangle the U.S. economic recovery’.

6. ‘Bank crisis: A less obvious problem arising from a U.S. debt default would be how it affects large banks, which use Treasurys as collateral for their own borrowing. “What happens if treasuries as collateral aren’t seen as the risk-free instruments they have been?” “Could an ugly round of global de-leveraging undermine investor confidence again and derail hoped-for economic growth?”

7. ‘Lower dollar: Already in a years-long slump, the dollar will sink even further against the world’s other currencies. S&P has estimated a U.S. debt default could cause the dollar to drop 10% or more. A weaker dollar will make imports more costly, but that’s not the worst of it. A default or credit downgrade could cause the dollar to lose its status as the world’s reserve currency. And that would be very bad for the U.S. economy’.
‘Sen. Pat Toomey (R-Pa.) on Wednesday called for Republicans to be ready to shut down the government to gain spending cuts in exchange for raising the nation’s debt-limit’.
“We Republicans need to be willing to tolerate a temporary, partial government shutdown,” he said on MSNBC’s “Morning Joe.”
From : http://thehill.com/blogs/blog-briefing-room/news/275155-sen-toomey-calls-for-a-government-shutdown

‘CBO: ‘Fiscal cliff’ deal carries $4 trillion price tag over next decade’

Here’s the vote in the House :
Aye – 172 D – 85 R

Nay 16 D 151 R
@ : http://www.govtrack.us/congress/votes/112-2012/h659

If you want to waste time, find a tea bagger and say ‘We aren’t taxed enough already because we have a $16 Trillion dollar debt’.

They will respond with ‘No, no. We are taxed enough – they don’t spend it right’.

The fiscal cliff deal is not good.

BUT – it saves us from what would be worse.

Another recession leading to World economic decline and then a Global Depression.

The rate of spending under Presidet Obama is the lowest in years and years.

Our rapidly raising debt is due to two wars that we didn’t raise taxes to pay for. A drug prescription program that we didn’t raise taxes to pay for. And a recession that is requiring larger and larger outlay of public spending to offset very human suffering combined with a massive decrease in revenue because of the decline in jobs.

Stop spending – we keep going faster and faster down the hill.

Increase spending – we add to the debt but buy time to try to fix an economic mess that has taken 60 years to build.

‘The extension of lower tax rates for a bulk of the nation’s taxpayers and the addition of a permanent patch to the alternative minimum tax would add roughly $3.6 trillion to the deficit over the next decade, the CBO said’.

‘Other individual, business, and energy tax extenders would add another $76 billion’.

‘The extension of unemployment benefits would cost roughly $30 billion, and the so-called “doc fix” would tally another $25 billion through fiscal 2022’.

‘The CBO says the budget agreement will lead to an overall increase in spending of about $330 billion over 10 years’.

‘The combination of tax hikes and spending cuts that make up the fiscal cliff — if allowed to proceed — would improve the nation’s deficit, but economic experts on both sides warn its dramatic impact would push the nation back into a recession if allowed to take effect in 2013’.
From : http://thehill.com/blogs/on-the-money/economy/275095-cbo-fiscal-cliff-deal-carries-4-trillion-price-tag

 

Fool me once – shame on you. Fool me over and over – I’m a Republican – Grover Norquist blesses the clowns

‘Grover Norquist’
@GroverNorquist’
“The Bush tax cuts lapsed at midnight last night. Every R voting for Senate bill is cutting taxes and keeping his/her pledge”.
From : https://twitter.com/GroverNorquist/status/286318323216564224

 

Gun Control – ‘Silencers: The NRA’s latest big lie’

The NRA’s original statement from ‘Call Me Crazy Wayne’ was we need armed guards in the schools. Either they will see and confront the more then likely heavier armed soon to be killer or they will hear the weapon fire and run to ‘save the day’.

But now the NRA wants to legalize silencers.

Why?

You’re gonna want to sit down for this……

‘February 2011 issue of Gun World, “Silence is Golden,” penned by the veteran gun writer Jim Dickson :

“One only has to look at children in the rest of the world learning to shoot with silencers, protecting their tender young ears, to see what an innocent safety device we are talking about here.”

“To use an overworked propaganda phrase, legalize silencers ‘for the sake of the children.’”
From : http://www.salon.com/2012/12/30/silencers_the_nras_latest_big_lie/

 

Stories from the Fringe – ‘World Net Daily Declares Michele Bachmann ‘Woman Of The Year’

Of course World News Daily and Michele Bachmann are both jokes but….

‘WND’s “Woman of the Year” award is presented to the woman who “did the most to represent goodness, womanliness, perseverance and character” and “had an impact on wider American, and global opinion.”

‘For her extraordinary dedication to America’s founding principles and steadfast defense of the Constitution, WND has named Rep. Michele Bachmann 2012 “Woman of the Year.”

‘Bachmann is a gutsy, pro-life fiscal conservative who dared to vote against raising the debt ceiling. She’s a God-fearing, gun-loving advocate of tax cuts and domestic oil drilling – and has proven to be one of Obamacare’s worst nightmares’.

‘Runners-up for the honor included Arizona Gov. Jan Brewer; Reggie Littlejohn, founder and president of Women’s Rights Without Frontiers; Angela Merkel, chancellor of Germany and party leader of the Christian Democratic Union; and Phyllis Schlafly, a guiding light conservative movement and recipient of WND’s 2012 “Lifetime Achievement Award.”
From : http://www.addictinginfo.org/2013/01/01/world-net-daily-declares-michele-bachmann-woman-of-the-year/