Coburn To The Rescue?

On the surface I like what I hear, mainly that the alternative minimum tax(AMT) will be scrapped.

It comes with tax revenues.

Coburn, however, noted the Congressional Budget Office would score the plan as a $1.5 trillion tax cut because it would eliminate the Alternative Minimum Tax. It would generate a significant amount of revenue out of tax reform and reduction of tax rates, which authors believe would spur economic growth.

I also agree with Rob Port that this deal is being done for the good of the country, and there will be some good stuff in this bill.
The downfall? Barry gets rescued...
Senator Coburn is a good man and I trust him, and I don't trust many in Congress.

Update:
Dipstick from North Dakota Kent Conrad is involved...It may not be worth the paper its written on.

In another politically risky move, the Gang of Six plan would achieve significant savings in healthcare programs, Conrad said. The specific spending cuts would be decided later by congressional committees.

To be decided later? Yea right Kent...

All Americans Should Listen To Senator Sessions

Not just conservatives, but every American should listen.

Sessions is calling on the party of no budget for 805 days to do what the law says they HAVE to do!

One of the few things mandated for Congress to do every year is pass a budget. According to the Congressional Budget Act, signed into law in 1974, the Senate Budget Committee must produce a budget resolution by April 1st and adopt a conference agreement on that budget by April 15th. Furthermore, a budget must include total levels of spending, revenue, and deficits for no less than five years.

He has Reid by the short hairs and good for him!

When All Else Fails(Updated)

Scare the seasoned citizens.

"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.

Screw you Obama. This is on you!
From a President and party that has not passed a budget in 804 days and counting...
Now we find out it will be Barry and Timmy who decides who gets paid?
Obama and his tax increases are the problem.
I hope the whole damn deal blows up!
Screw Geithner too! 
Obama and Geithner along with cohorts Pelosi and Reid own $5 trillion dollars of that debt.

Update: 
From a cooler head, Rob points out the obvious, Social Security is broke!

Update II
Raise Taxes Or Granny Gets It!

Is Barry Serious? Or Insane? Or Both?

The Asshead spends more time on the golf course (and planning more) than most professionals and he says sh*t like this?

EPIC FAILURE!

In an animated rant that livened up an otherwise subdued press conference, President Obama today lit into Congress for failing to reach an agreement to raise the country’s $14.3 trillion debt ceiling as an Aug. 2 deadline approaches, despite repeated urgings by the administration to do so. At one point he even reprimanded lawmakers by noting that his two daughters manage to do their homework ahead of time, a diligence rarely seen on gridlocked Capitol Hill.

The master of bailouts, porkulus, stimulus, shovel ready jobs is so far removed from reality(actually he did this with the intent of destroying the American economy).
I think I now know the true meaning of hate!

“These are bills that Congress ran up,” he noted. “The money’s been spent. The obligations have been made. So this is not a situation – I think the American people have to understand this – this is not a situation where you know, Congress is going to say, ‘Okay, we won’t buy this car or we won’t take this vacation.’ They took the vacation, they bought the car, and now they’re saying maybe we don’t have to pay or we don’t have to pay as fast as we said we were going to. That’s not how responsible families act. We’re the greatest nation on earth and we can’t act that way. So this is urgent and it needs to get settled.”

He damn well knows what frigging Congress ran those bills up too! 
Four years of Pelosi= Five trillion in debt!
If we had a honest media in this country he would be called out on his bald faced lies too!
A small, shameless man...

Exhausted Barry To Vacation Again

All that golf has Barry headed to Martha's Vineyard to play more golf I guess...

During past vacations on the Vineyard, the president spent much of his time on the farm but ventured out sporadically for golf and for family jaunts for ice cream and shopping

Actually I am all for Barry getting out of Dodge, there is NOTHING left here anymore.

Greece Runs Out Of Other Peoples Money

Insolvent...

Deep in deficit and unable to borrow on financial markets, Greece depends on international support to keep going. A default would spread contagion around the 17-nation single currency area and cause a deep shock to the global economy.

Coming to America soon.

Right On Target ( Updated)

Barry spends like its someone else's money.
Oh wait, it is...

(CNS News) — The federal government ran a deficit of $929 billion in just the first 8 months of fiscal 2011, which began on Oct. 1, 2010, according to the Congressional Budget Office’s monthly budget review for June.

“CBO estimates that the government recorded a deficit of $929 billion for the first eight months of the fiscaly year,” said CBO.

Last year, the government ran a deficit of $935 billion in the first 8 months of the year, according to CBO.

Lovely. 
It gets worse...

Liar In Chief (still a liar) Lying Again

He spent two years cleaning up a mess he inherited...

“My job over these first two years has frankly been to clean up a big mess,” Mr. Obama said at a $10,000-per-ticket event at a gated mansion in Miami Beach.  “We were able to make sure we yanked an economy out of what could have been a second Great Depression.”

And a fine job he did to.

In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of May 2011 – the last month for which data are available – that number had fallen to 139.8 million, a difference of 1.9 million.

The numbers tell a different story...

Best liar ever...
Worst President ever...

The Coming Crisis

Like no one saw this coming...

Sorry, but this picture just works for so much.

Politics virtually guarantee that the global economy won't go into crisis in 2011. Politics make it extremely unlikely that the global economy will slow down as much as the market seems to fear. Politics, in fact, put a safety net under the global economy this year.

And politics also virtually guarantee another, deeper crisis in 2012 or 2013. I'd bet 2013.

We can't have a total meltdown until Barry leaves office now can we?
Even though his policies (and his predecessor's to an extent) have lead to this mess.

By 2013, no matter how the election goes, the Federal Reserve will be under almost unbearable pressure to reduce its balance sheet and raise interest rates. That's when global bond markets will really pressure the United States to come up with a plan -- at the least -- for reducing its budget deficit over the long term.

My gut says it will be before 2013...

Just A Reminder

Its a national security threat now...

Colin Powell should be ashamed.

Would You Lend Money To U.S?

The United States is the largest debtor nation in the history of the world...
We won't survive another time around .

The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.

"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

"When the problems arise  next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around.

All on three now...Barack Hussein Obama mmm, mmm, mmm!

Blackmail

Liberals lie. Its what liberals do...

I think it’s a concerted effort to scare the public and, you know, say that if we don’t increase the debt ceiling it’s going to be Armageddon. It won’t be Armageddon. What’ll end up happening is we’re going to have to actually live within our means.

Live within our means? WTF?
H/T Verum Serum.

Liar And Clown

No not Barry(although he is). This one belongs back in school, preferably one that teaches economics.

Double dip if the debt limit isn't raised(how will we ever know the difference)?
I think if we just cut 2 trillion from our spending we wouldn't need to raise the damn thing at all.
But...We won't so...
If the limit is raised without a equal amount of spending cuts(no tax increases) we lose again.
Watch your reps closely.

The Biggest Loser

Can our Government do anything right?

Evidently not...

The national mail service said Tuesday that it expects to have a cash shortfall and reach its statutory borrowing limit by the time its fiscal year ends in September. That means the agency could be forced to default on some of its payments to the federal government

And of course my favorite little Government boondoggle is far from over...

The two companies are expected to cost taxpayers $259 billion by the time all is said and done. Of course, that $259 billion is only to cover bad loans made during the housing bubble, prior to the government’s conservatorship of Fannie and Freddie. However, under the current circumstances, it seems likely that the losses and concomitant bailouts will continue mounting, and someday Americans may look back wistfully upon the day when they thought they would get socked for “only” $259 billion for these two money pits.

This is no longer something to laugh at and just be sarcastic about(but I will anyway) the future of our country is crumbling before our very eyes.
Big Government is our enemy, not our friend...

My 4 day old(yes 4 days old!) Grand Daughter is already in debt!! Ugh.

Debt Armageddon

New kid on the block warns of debt "Armageddon".

"The consequences ... of failure to raise the debt ceiling would be Armageddon-like in terms of the economy," said White House spokesman Jay Carney.

I call bull excrement on that Mr. Claire Shipman.
Scare tactic. I am not buying it. Raising the limit and not dealing with the deficit will do more harm. Cut the damn budget and be done with it!
Quit spending money that does not exist Asshead.....

Idiot Of The Day

This idiot spent his way to the title.

                                   

“Now [that] we’re at $14 trillion in debt, I think the answer is – responsibly – we’re not going to get there [a balanced budget] in ten years, but we have to be on a very considered path to get there, certainly, within the next decade and a half or two decades,” Hoyer said Tuesday at his weekly press briefing.

He evidently doesn't remember much of the last four years.....                               

Shocker, Another Lie From The Liar

 This is going to hurt.....

                                   
                               

President Obama’s health care law will cost state taxpayers at least $118.04 billion through 2023, about twice the Congressional Budget Office estimate of $60 billion through 2021, Republican members of Congress said today. …

“Governors of both political parties were clear when Congress was debating the $2.6 trillion health law that they could not afford a massive expansion in Medicaid. Washington didn’t listen and plowed forward instead by putting 16 million Americans onto the Medicaid rolls to keep the federal price tag down,” said Hatch. “With this report, we see the true cost to states, who are already facing a collective $175 billion budget shortfall, of this unsustainable expansion."

Some of us knew, some drank the kool-aid......

Billions In Bloat?

Any wonder why we have a $14 trillion dollar debt?
                                   
Its a good thing Barry has all that experience running a business and balancing a budget.....
                               

Picture Of The Day

                                   
From Zappatrust via Moonbattery.
                               

About That Debt Ceiling

Seems Mr. Goolsbee doesn't have all his facts quite right.

                                   
                                
He said on This Week.

"If we hit the debt ceiling, that's ... essentially defaulting on our obligations, which is totally unprecedented in American history.  The impact on the economy would be catastrophic....I don't see why anybody's talking about playing chicken with the debt ceiling, if we get to the point where you've damaged the full faith and credit of the United States, that would be the first default in history caused purely by insanity."

It appears others,  here and here have a more truthful version of what will happen with that debt problem piled up by the Pelosi Congress........
Nothing from this administration can be trusted. Nothing........