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The Congressional Super Committee has turned into a joke.
Neil Cavuto showed that, even if the committee came up with $1.2 trillion over the next 10 years, our national debt will still rise by $9.0 trillion over the same 10 years.
There is talk that France may hold public elections next year for the purpose of France leaving the Eurozone.
Germany is said to be out of the Euro within 5 years.
The Germans would like to be the top dog in the Eurozone, but they do not want to spend the money it takes at the expense of their economy and citizens.
Some think that the 2012 Presidential election will fix things.
What happens if Obama wins, and the Senate and House do not change hands? Another 4 years.
No president can make laws, and get anything done, by himself.
Yes, Howard, for the first time since the depression, here's a dangerous set of world issues all rolled into one mean taco. It is only becoming a heavier battering ram by the month, ramming into the markets every quarter.
I say it's a complete failure of globalization and the experiment the technocrats carried out.
"The Congressional Super Committee has turned into a joke.
Neil Cavuto showed that, even if the committee came up with $1.2 trillion over the next 10 years, our national debt will still rise by $9.0 trillion over the same 10 years."
Yes, because politicians are good at fooling the public. Just about every cut is a cut to future spending that actually raises the spending. Obama's proposed budget for 2012 actually increases spending up to 3.7 Trillion, but is full of "cuts".
Cutting by 1.2 Trillion over 10 years, means that we average 120 Billion in cuts per year. Not that impressive considering that we are averaging a 1,500 Billion deficit the past few years.
"There is talk that France may hold public elections next year for the purpose of France leaving the Eurozone."
France is in debt, but smart enough to not want to pay for other countries lavish pensions that they can't afford.
"Germany is said to be out of the Euro within 5 years.
The Germans would like to be the top dog in the Eurozone, but they do not want to spend the money it takes at the expense of their economy and citizens."
If Greece refuses to take their debt seriously and refuses to make a realistic fix, why should Germany go on funding a broken system?
"Some think that the 2012 Presidential election will fix things.
What happens if Obama wins, and the Senate and House do not change hands? Another 4 years."
Well for starters the Democrats have controlled the senate since January 2007 from the 2006 elections.
I see the problem as the Democrats refusing to make serious cuts to get elected and the Republicans refusing to raise any taxes to get elected.
Both sides are too entrenched. They couldn't even agree on how to cut less than 1% of the budget previously. How can they fix borrowing 43 cents for every dollar they spend?
"No president can make laws, and get anything done, by himself."
No, but Obama could be the first president ever to not get a yearly budget passed ever during a 4 year presidency. It is pathetic, considering that he had total control of the Senate and the House ~60% in each chamber for 2 whole years.
It brings us to the point where the people of the world are through with the greed of the top 1%. Greece, Italy nad Spain had to to with the same banks that destroyed the US economy. Getting rid of the parasites will not stop the sun frrom rising or the crops from growing
The democrats do not want to make a deal because opinion polls show that most people will blame republicans if nothing gets done (hence, that's why Obama doesn't want a deal done. Didn't do anything w/Simpson Bowles...)
Republicans are not going to budge on raising taxes. Democrats are not going to budge on reforming Medicare/SS.
That's where you are. Next big thing will be the election...after that, you'll prob get more of the same. Congress won't make hard choices unless they get to a Europe like situation..
I hope that our Congress/"Super Committee" can enjoy their Thanksgiving Dinners with their families...and live with themselves...on our national day of thanks.
Everyone does realize that those "cuts" (actually reduction in spending) wouldn't take effect till 2013, right? And those "cuts" amount to only 1.2 trillion over 10 years...(120 billion per year.) A drop in the bucket.
So, its not like some trigger goes off and granny will go hungry...
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