pinko

If the Obama/McConnell deal goes through—and it’s still sort of iffy, at least with respect to the House, where Tea Party dead-enders may find common cause with disgusted liberals to doom it—conservative governance will have made several extremely consequential strides, in both the short and long term. Here are four. First, over the long term, the deal drastically reduces domestic discretionary spending over the next 10 years. Remember, this is just 12 percent of the federal budget to begin with. Within that 12 percent, the amount of money we spend on most domestic programs is small: transportation is .85 percent of the total federal budget, education is 1.15 percent; housing and community development is 1.7 percent, as is environmental spending; and so on for all the other categories of federal spending that in people’s minds add up to the evil “gov’ment.” The notion that we’re drowning in debt and deficits because we spend too much in these areas is absurd. http://www.thedailybeast.com/articles/2011/07/31/obama-s-capitulation-on-the-debt-ceiling-marks-a-new-conservative-era.html?om_rid=NsfrMk&om_mid=_BONqgYB8chFyvL

I realize you are anxious to have this issue resolved but until it is ratified both in the House and Senate and accepted by the President this remains outstanding.

Kabul, Afghanistan (CNN) -- Joint Chiefs of Staff Chairman Adm. Mike Mullen said Sunday during an unannounced visit to Afghanistan that he doesn't know whether soldiers will continue to receive paychecks if an agreement over the U.S. debt ceiling cannot be reached. "I certainly hope it gets solved," Mullen told reporters. America's highest-ranking military officer said soldiers had recently asked him about the crisis, saying "here we are, halfway around the world, fighting our country's wars, and I've got to worry about a paycheck." Mullen said August 15 would be the first payday jeopardized if the United States defaults. Soldiers normally get paid in two-week increments, making the last assured payday on August 1, he said. http://www.cnn.com/2011/US/07/31/afghanistan.mullen.debt/index.html?hpt=hp_t1

The $5 Trillion Coin Gimmicks the government could use to resolve the debt-ceiling debacle. By Annie Lowrey Posted Friday, July 29, 2011 The countdown clock to the Debtpocalypse now stands at four days, give or take. Soon, the Treasury will start receiving bills it cannot pay, and the United States will fall delinquent on billions of dollars in promised payments to Social Security recipients, government contractors, and so on. Congress remains deadlocked. So, the chattering classes have started getting creative. If you cannot lift the debt ceiling, maybe you can vault over it. One option is coin seigniorage—aka, the "really-huge-coin workaround." The United States has a statutory limit on the amount of paper money in circulation, but no such limit on coins. The Treasury secretary has the authority to mint certain coins of any denomination, with no need for the value of the metal to equal the value of the coin. (It gets a bit technical.) But the idea is that Secretary Timothy Geithner could order the Mint to make a, say, $5 trillion coin. It could then use the coin to buy back and extinguish debt from the Fed, pushing the country back under the ceiling. Or it could deposit it, and the Fed could counteract the inflation by selling government debt. http://www.slate.com/id/2300428/

Also included in the nascent proposal would be a provision calling for a vote on a balanced budget amendment to the Constitution – an element that has become a rallying point for House conservatives. But one potential sticking point in any House vote is that the plan calls only for a vote on such an amendment, not the passage of one, something at which many conservative Republicans are likely to balk. The proposal could also encounter some opposition from House Republicans who have maintained that passage of a balanced budget amendment be a part of any deal. http://www.washingtonpost.com/blogs/2chambers/post/mcconnell-outlines-framework-of-potential-debt-deal/2011/07/31/gIQAvkgFlI_blog.html

He certainly seems injury prone.

Lots of smoke Saturday. Let’s cut right through it: In a phrase, President Obama appears to have cut a deal with the Republicans, on their terms, or about 98 percent of them. Democratic congressional leaders are trying to push back but are up against it, with Harry Reid having pushed the cloture vote on his plan back from 1 a.m. Sunday to 12 hours later as he scrambles to try to find the votes to pass his version of a compromise. Jonathan Karl of ABC News was the first to report the Obama-GOP deal as fact in this short piece that was posted at 10:39 p.m. Saturday night. If he’s right—and it smells like he is—it’s a bleak day for this presidency, and really in American history, as we’ve now embarked on a path that’s very likely to lead to huge cuts in entitlement programs, the domestic budget, and more or less everything every Democrat in Washington (except, apparently, one) wakes up to fight for every day. http://www.thedailybeast.com/articles/2011/07/31/debt-ceiling-deal-the-gop-gets-their-way.html?om_rid=NsfrMk&om_mid=_BONWI6B8chFpc8

Until you see the details (assuming they are available) you won't know. Boehner still has to deal with the Tea Party element in the House so don't think that issue (balanced budget legislation) is dead just yet.

Will the Bombers finally win a Grey Cup?

The good news: There are reports of a possible debt deal. The bad news: President Obama might let the GOP have everything. As reports of a possible deal leaked out late Saturday night, it appears that Obama is meeting the Republicans—on their terms. The Daily Beast's Michael Tomasky says it is a bleak day in American history, as we could be embarking on a path of huge cuts to programs. Plus, what to watch for in the debt showdown today. Read it at The Daily Beast Yes. Your great president rolled over and gave the Republicans everything they wanted. Obama is a shitty negotiator.

You have suggested the news is more positive and it is in that context I challenge your assertion. By the way even if a deal is brokered there still is no assurance the House of Representatives will be brought onside.

The story hasn't changed. All that has happened is that Reid has decided to delay the vote to allow for further discussion.

I read your link and there really is nothing new there other than a wish and a hope.

Great theatre though.

He probably suggested that out of desperation with the antics of the Republican Party. Your Constitution isn't working particularly well. I don't mind if you don't mind. There sure is a lot of gun violence in Houston.

You have no say in what is transpring now within the confines of the Congress. What little say you have is confined to your voting preference at election time.

Time will tell.

Yes

With power comes responsibility. In that regard it is about time your leaders started to act responsibly.

At the moment the American dollar is the default currency and for the most part has been the incubator for these so called free trade deals which have extended rights to corporations at the expense of citizens not only in the USA but throughout the world. The crisis of 2008 was, in large part, a made in the USA model which eventually infected all markets throughout the world. So in answer to your question yes the reckless behaviour on the part of the USA has been and continues to be the primary burden of the USA.

At the moment all eyes are on the USA and the choice made by the Republican Party to link the debt renewal process to ongoing discussions about your current fiscal situation. In that context the impact of such reckless behaviour combined with the fragile state of many economies throughout the world requires true leadedrship within in your country. It remains to be seen how agreement will materialize under the current circumstances.

You say: "a constitution that can be amended but really seldom is as it's not something that can be, and is, done on a whim." Yet at the 11th hour the tea party element in the Republican Party is attempting to impose a balanced budget amendment which has no chance of being endorsed within the two or three days reamining until the deadline. What distinguishes the current crisis from others in the past is the impact this irresponsible behaviour on the part of your legislative branch will have on the rest of the world.

One conclusion I have reached is that there is something fundamentally wrong with the American system. Although it is fascinating to watch the posturing and antics being displayed in the lead up to the deadline it strikes me that some in the Congress appear willing to take the economy over the cliff without regard to the consequences that flow from that.

The element missing in these discussions is corrupting nature of powerful lobby groups with vast finnacial resources. How independent are these Members of Congress when they are beholding to monied interests for their continued place in public office? The American model is showing itself to be a model of gridlock.

I followed the Oliphant Inquiry and as well have read a number of books written about Mulroney's escapades. Fine distinctions were made about his conduct which, some have argued, was criminal in nature. I accept your premise that Mulroney appears to have lied (perhaps under oath), cheated and took money he failed to declare in a timely manner. The common denominator between Black and Mulroney is the white collar nature of their activities. O.J. Simpson was acquitted on the charges lodged. This does not mean he was found innocent. It just means guilt was not proven beyond a reasonable doubt in the eyes of the jurors. That is an interesting albeit skewed hypothetical you have laid out. About the only part of that hypothetical I would agree with is that the police would seek to interview me and that may include a trip to a local police station.