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Put the blame where it belongs, to the TeaRublicans who are dead set to make sure billionaires' tax loopholes for jets et al remain in place.
Let the fall begin. Hope you don't have your retirement tied up in the market or a 401 K. Kiss it good-bye if you we default.
Thanks so much Tearublicans! You're doin' a good job, brownie.
The ironic thing these born again teavangelists don't understand is that if we default, then interests rates go up, which then increases our payments. It only make the deficit worse.
Reading comprehension: markets hate indecision. Was something about that unclear to you? I expect people to actually read the linked articles than for me to type out a summary.
Hence, being decisive won't help in "2012 elections". Strong market, recovering economy, and four more years of Obama... who wants that? Certainly not those patriotic Americans.
Quote:
Originally Posted by emilybh
Dollar futures have been in a range between 90 and the low 70's since 2006.
Lets hope they stay in this range. Right now the DX is at 73.76
If it is 73.76 now, it is better than it was in 2008. But speaking of declining value of the dollar, the story ain't new, a pretty good depiction, since 1984:
Hope between 1995 and 2001, followed by a disaster of managing dollar's value since 2001.
Quote:
Originally Posted by SLCPUNK
The ironic thing these born again teavangelists don't understand is that if we default, then interests rates go up, which then increases our payments. It only make the deficit worse.
Except that the idea isn't of balanced budget, the intended (and, in many cases, unintended) consequence of it is even greater push to obliterate social safety nets. A balanced budget won't help towards that push, a deficit would.
I think it is ironic that Obama blames Republicans for the impasse when really it is Obama that is the impasse... he is the sole person who RUINED the plan that was accepted by both democrats and republicans... and to add salt to injury, Obama claim that his "change" was not a dealbreaker so he doesn't understand why republicans won't come back and redo the deal... uhh... because Mr. President, you said it WAS a dealbreaker and refuse to let go... why is he trying to lie about it... Does he take Americans to be idiots... everything was fine until Obama wanted more and REFUSED to back down and then said the issue wasn't that big of deal and wasn't a dealbreaker? Then why did Obama REFUSE to back down and STILL refuses to back down on it... huh? I don't understand Obama... At first he was okay with it... everybody was happy then he does a 180... I hope nobody here is that stupid to not realize what happened... someone BIG called him and told him NO... a big lobbyist probably... that much is OBVIOUS...
Obama knows all, sees all....just ask him, he'll tell you.
Make them pay a 25% tax on those jets when they buy them. There, no loopholes.
So you want the federal government to repeat this mistake...
Quote:
...officials learned a valuable lesson from the disastrous effects of the ill-conceived federal luxury tax of 1990, which caused more than 19,000 marine industry jobs to be lost nationwide, and drove many boat manufacturers out of business. Boat sales dropped by 40 percent and the overall tax revenue was lower than pre-luxury tax levels. It also kick-started the continuing trend to have boats built outside the U.S. The unemployment compensation benefits paid out were more than three times greater than the tax revenue generated. When the federal government realized its mistake and repealed the 1990 luxury tax in 1993, much damage was already done to America's boating industry.
Your ilk ALWAYS forget to think through the negative consequences of your very ill-advised 'eat the rich' schemes, and end up shooting yourselves in the foot.
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