July 20, 2011

DOOM is an equal-opportunity employer
— Monty

DOOOOM

Beer at last, beer at last, thank God, we are beer at last! The Minnesota state shutdown will (probably) end today, and the liquor can once again flow freely. Democrats hate the compromise, which means that the state GOP probably got a pretty good deal.

If President Obama likes this "Gang of Six" plan, it probably means it sucks and will really piss off conservatives. However, it may also be the best deal we're going to get out of this President. Do we take the deal and keep our powder dry for 2012, or do we bunker in and insist on a better deal? Mark Steyn at NRO hates the plan, and he thinks the deal will work out as these things usually do:

If you take the Gang’s figure of half-a-trillion dollars in immediate “aggressive deficit reduction” seriously, that represents about what the U.S. government borrows every four months. What’s “aggressive” about that? And what’s immediate about it? It’s all unspecified “discretionary spending caps” and “process reforms” that will collapse like soufflés ten minutes after the signing ceremony. Obviously it’s appealing to Democrats: It accepts their view that 25 percent of GDP should be the new baseline for national (“federal” no longer seems quite the word) government spending. But what’s in it for Republicans?

There is evidence that bondholders and ratings agencies are getting antsy about the lack of a budget deal, but I continue to think this is media-generated hysteria and political theater. Smart bond-holders have factored in US debt concerns long ago, and they know that there is almost no chance the US will actually default on its debt. So when you hear the hysterical warnings that a default is imminent, you can safely ignore them, whatever happens. The US, for all its problems, is still the best of a bad lot, and investors know that.

Paul Ryan's take on the "Gang of Six" proposal. He doesn't hate it, but he seems to see more bad than good in it.

Who would have thought that a Byzantine, badly-thought-out, and partisan piece of legislation would actually exacerbate the very problem it was meant to solve? Impossible!

Give the Greeks what they deserve: Communism. This seems like a cruel fate, but after all many Greeks have been agitating for it for a century. Maybe a decade or two of having having to live in a Communist hellhole will kill their taste for it.

Thomas Sowell: Misreading 90 years of tax-cut history. Listen to the man.

The spirit of public service always warms my heart. In Wisconsin, public employees are retiring in droves to avoid any cuts to their retirement benefits. The phenomenon of "pre-emptive retirement" is quite commonplace, and it will further strain state and municipal budgets due to the sudden spike in pension rolls combined with the shortfall in senior personnel.

A California judge halts Costa Mesa layoffs until a trial. The public-employee unions asked for the injunction, and the judge granted it. Expect to see more and more of this kind of thing as city budgets run out and layoffs end up being the only major avenue of cost savings. We may end up with a wholly bizarre situation where a judge essentially orders a municipality to go bankrupt by preventing them from getting their payroll costs under control.

Someone needs to remind this guy that past performance is no guarantee of future results. You'd think he'd have learned that lesson in the 2008 downturn, but I guess not. (And those stock-market "windfalls" can disappear with terrifying speed, guys. One bad day on the exchange is all you need.)

Some rare good news for American manufacturing: American Airlines orders 460 narrowbody aircraft. 200 of those planes will come from Boeing, with the rest coming from Europe's Airbus. (I wonder if this will have any impact on the current NLRB case against Boeing?)

UPDATE 1: Via Vic in the comments: Moody's threatens a downgrade of five states if the US credit rating is cut. Like I've been saying, the credit ratings agencies were terribly embarrassed by their utter failure in the subprime meltdown, and are trying mightily to build their cred back up again.

UPDATE 2: Compton, CA, a city of delights comparable to classical Florence, is laying off 30% of its workforce. Well, unless a judge orders them not to.

UPDATE 3: Slouching towards default.
Let's see how brave you are on this side of the glass, you rodent bastard!


Posted by: Monty at 04:56 AM | Comments (170)
Post contains 753 words, total size 6 kb.

1 In to work early made up for by a nice, fresh, steaming cup of DOOM!

Good Morning, Morons.

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:02 AM (8y9MW)

2 "3 possible [debt ceiling] scenarios ... all of which include a downgrade of the U.S. credit rating"- Strategas Research

Posted by: '80sBaby at July 20, 2011 05:03 AM (o2lIv)

3 Do we take the deal and keep our powder dry for 2012, or do we bunker in and insist on a better deal?

NO, we do NOT take it. It is the same BS they have done over and over again. Tax hikes for promised of unspecified cuts down the road.

Either do the cuts or shut the MF down.

Posted by: Vic at July 20, 2011 05:04 AM (M9Ie6)

4 Teh kitteh does not look amused by that squirrel kicking it on his windowsill.

Posted by: Blacksheep at July 20, 2011 05:05 AM (Ujc5c)

5 There is evidence that bondholders and ratings agencies are getting antsy about the lack of a budget deal, but I continue to think this is media-generated hysteria and political theater

Did you see the link I had this morning for the 5 States moody's says they will look at downgrading if they downgrade the feds if they don't quit spending?

Posted by: Vic at July 20, 2011 05:06 AM (M9Ie6)

6 The public-employee unions asked for the injunction, and the judge granted it.

Yes someone posted that yesterday. EVERYONE in CA is insane. Where do the judges think they have the authority for that?

Posted by: Vic at July 20, 2011 05:07 AM (M9Ie6)

7 Posted by: Vic at July 20, 2011 09:04 AM (M9Ie6)

Yesterday I supported the deal as "Not nearly as bad as the McConnell Plan."  While I still agree with that assessment, I can't consider that enough actually to support the deal after further consideration.

As many have pointed out, all the "cuts" are ephemeral, undefined, and probably completely illusory.  The extra spending it would enable, however, is stark, all-too-well defined, and very extant.

Obama and the Democrats are waiving the black flag of havoc against our nation.  It's time to man the wall and go down fighting, if that's what it takes to slow him down enough that we can win in the end.

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:08 AM (8y9MW)

8 The ratings agencies have painted themselves into a corner by being so incompetent over the last decade. Of course US debt should not be triple-A rated; everyone knows that, I think. If the agencies were honest, they'd have downgraded our debt years ago. But they are creatures of the US government in many ways, and fearful of their master's wrath.

This situation is bizarre -- the whole point of a ratings agency is provide honest and prudent guidance to investors who wish to purchase securities. The ratings are supposed to be a "Good Housekeeping seal of approval" so that investors can buy bonds with confidence. And yet we have seen evidence that all the agencies are afraid to rate honestly, and are quite willing to mislead or even lie to investors to preserve their patronage. If nothing else, this whole sorry episode points out how worthless the Big 3 bond ratings agencies really are.

Posted by: Monty at July 20, 2011 05:08 AM (/0a60)

9 The NLRB is going to get their asses handed to them on that case. They don't have a leg to stand on.

Posted by: Vic at July 20, 2011 05:08 AM (M9Ie6)

10 And kitteh; I see someone baited that squirrel with sunflower seeds. You should never bait squirrels to come to your house proper. You are inviting disaster.

Posted by: Vic at July 20, 2011 05:10 AM (M9Ie6)

11 Thomas Sowell knocks one out of the ballpark:

The results show how unreliable peer consensus can be, even when it is a peer consensus of highly intellectual people, if those people share a very similar vision of the world and treat its conclusions as axioms rather than as hypotheses that need to be checked against facts.

Zealots of the Church of AGW take note ...

Posted by: No Whining at July 20, 2011 05:10 AM (sFGS7)

12 Vic: repost that link and I'll add it to the main post.

Posted by: Monty at July 20, 2011 05:10 AM (/0a60)

13 NO, we do NOT take it. It is the same BS they have done over and over again. Tax hikes for promised of unspecified cuts down the road.

Either do the cuts or shut the MF down.

I've got to agree with you, Vic.  These people are known liars, and the the promised cuts will never happen.

Last summer I was in Munich having dinner with a friend who is a law partner.  He told me about Germany having this same basic national discussion - the debt is too high, so should we (a) raise taxes or (b) cut spending?  If (a), raise them how, progressively by jacking the highest bracket another three percent, or regressively -- err, sharing the sacrifice -- by jacking the VAT up by three percent.  Ultimate resolution?  Top bracket went from 42 to 45%, and the VAT from 16 to 19%.  Oh, and all those cuts?  Never happened.  Behold, our future here in the U.S.

Posted by: Blacksheep at July 20, 2011 05:11 AM (Ujc5c)

14 Here is the post:

Moody's says it will downgrade credit rating of 5 States if it downgrades U.S. credit rating

Moody’s Investors Service warned Tuesday that it probably will lower the credit rating on five states — including South Carolina — if it downgrades the U.S. government’s credit rating.

The credit rating agency said it has placed on review for possible downgrade the triple-A bond ratings of South Carolina, Maryland, New Mexico, Tennessee and Virginia.

And notice this in the article.

Last week, MoodyÂ’s placed the U.S. governmentÂ’s triple-A credit rating under review for a possible downgrade as Congress and the White House wrestle over raising the nationÂ’s $14.3 trillion borrowing limit. MoodyÂ’s said there is a small but rising risk the government will default on its debt if federal officials donÂ’t raise the limit.

AP does not explain why they say they will downgrade the 5 States either. Going to MoodyÂ’s we find this:

Rational for downgrading the 5 States

It looks like if you have a high federal workforce you get reviewed. (Lots of military bases in SC)


Posted by: Vic at July 20, 2011 05:12 AM (M9Ie6)

15 Posted by: No Whining at July 20, 2011 09:10 AM (sFGS7)

I love Thomas Sowell.

I'd love for him to be Sec. Tres. with RON! PAUL! Fed Chairman.

That would be sweet.

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:13 AM (8y9MW)

16 8 The ratings agencies have painted themselves into a corner by being so incompetent over the last decade. Of course US debt should not be triple-A rated; everyone knows that, I think. If the agencies were honest, they'd have downgraded our debt years ago. But they are creatures of the US government in many ways, and fearful of their master's wrath.
Posted by: Monty at July 20, 2011 09:08 AM (/0a60)

I'm sure that somewhere in the former East Germany, former figure skating and gymnastics judges can be coaxed out of retirement in order to wield their score-crippling axes once more for a good cause.

Posted by: No Whining at July 20, 2011 05:14 AM (sFGS7)

17 Also, the AP article failed to mention Moody's placed their main emphasis on cutting spending, not the debt limit. AP is a liar.

Posted by: Vic at July 20, 2011 05:15 AM (M9Ie6)

18 i am convinced that there is no hill the rinos are willing to die on...........the go along to get along losers.........

Posted by: phoenixgirl at July 20, 2011 05:15 AM (eOXTH)

19 "Deal" or no "deal", any one of those bastards who votes for any tax hike gets a primary battle.  It's all they understand, the protection of their job perks. How about no job, cockbite?

Posted by: Mr. Dave at July 20, 2011 05:16 AM (GPaot)

20 They are retiring in droves in New Jersey too.  My husband just interviewed for his boss' job after he retired, at 60.  He is going to have his pick of jobs if he sticks around.  We don't know whether to laugh or cry about it.  Since we live in Pennsylvania, (as do a hell of a lot of NJ state employees because of the crushing property taxes and crappy schools in NJ) the tax savings don't mean anything to us.

Posted by: rockmom at July 20, 2011 05:16 AM (lSyyU)

21 18 i am convinced that there is no hill the rinos are willing to die on...........the go along to get along losers.........
Posted by: phoenixgirl at July 20, 2011 09:15 AM (eOXTH)

And the corollary to that is: there is no trough the RINOS are unwilling to feed from.

Posted by: No Whining at July 20, 2011 05:17 AM (sFGS7)

22 I love Thomas Sowell.

I'd love for him to be Sec. Tres. with RON! PAUL! Fed Chairman.

That would be sweet.

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 09:13 AM (8y9MW)

I'd give BOTH my boobies to see him debate the JEF.  Make it pay per view and we'd solve the debt crisis.

Posted by: Tami at July 20, 2011 05:18 AM (X6akg)

23

I saw some of Rep. Ryan's interview last night.  He was less than impressed by the Gangbang of Six or Seven.  He obviously thought the Senate was full of a bunch of incompetents but was too diplomatic to say it that plainly.  He also did not have good things to say about President Obama.

The Democrats have repeatedly played this game of "tax increases now - spending cuts later" in which the spending cuts never occur.  The Republicans in the House better not go along with this scheme or there will be hell to pay with the conservative base.

 

Posted by: Retired Buckeye Cop at July 20, 2011 05:18 AM (S2+uh)

24 Make it pay per view and we'd solve the debt crisis.

I know I'd pay to see it.
Best thing- even though we know they'd try, the media couldn't successfully call it "racist."  Even the squishy middle would laugh at them over that charge.

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:20 AM (8y9MW)

25

<i>The phenomenon of "pre-emptive retirement" is quite commonplace, and it will further strain state and municipal budgets due to the sudden spike in pension rolls combined with the shortfall in senior personnel.</i>

On the other hand, could this be a golden opportunity for states to reduce the size of their own governments?

Posted by: Curmudgeon at July 20, 2011 05:20 AM (w7K7d)

26 None of this Senate crap will get passed the House.  And NO we should not accept any deal that stinks like so many past deals.  Fuckers are at it again.  God I hope DeMint can get a few more constitutional conservatives into the Senate in '12 and shit-can that cocksucker McConnell out of leadership.

Posted by: Sukie Tawdry at July 20, 2011 05:21 AM (MPtFW)

27 22
I'd give BOTH my boobies to see him debate the JEF.  Make it pay per view and we'd solve the debt crisis.
Posted by: Tami at July 20, 2011 09:18 AM (X6akg)

If showing your boobies would have such a positive effect on alleviating the debt crisis, why aren't they on display now?  ; )

Posted by: No Whining at July 20, 2011 05:21 AM (sFGS7)

28 You think you're frakked now?  Wait until you see our plans!

Posted by: The Gang Bang Of Six at July 20, 2011 05:21 AM (zgZzy)

29 He also did not have good things to say about President Obama.

 

Posted by: Retired Buckeye Cop at July 20, 2011 09:18 AM (S2+uh)

"Leading press conferences is not leadership"

Posted by: Captain Hate at July 20, 2011 05:22 AM (zsvKP)

30 25
On the other hand, could this be a golden opportunity for states to reduce the size of their own governments?
Posted by: Curmudgeon at July 20, 2011 09:20 AM (w7K7d)

Retire and do not replace, IOW. Excellent suggestion!

Posted by: No Whining at July 20, 2011 05:23 AM (sFGS7)

31 If showing your boobies would have such a positive effect on alleviating the debt crisis, why aren't they on display now?  ; )

Posted by: No Whining at July 20, 2011 09:21 AM (sFGS7)

Mr. Sowell would have the positive effect...my boobies, not so much.

Posted by: Tami at July 20, 2011 05:23 AM (X6akg)

32 Posted by: Sukie Tawdry at July 20, 2011 09:21 AM (MPtFW)

Unless I'm missing something, aren't they just kind of peeing in the wind with that anyway?  Wouldn't that bill have to originate in the House?

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:24 AM (8y9MW)

33 This situation is bizarre -- the whole point of a ratings agency is provide honest and prudent guidance to investors who wish to purchase securities. The ratings are supposed to be a "Good Housekeeping seal of approval" so that investors can buy bonds with confidence.

You should start your own rating agency with the following ratings: Not boned, boned, DOOOOOOOOMMMMMMMMMEEEEEEEDDDDD!!!!!! (With Bender from Futurama giving you the accompanying sound fx).

Posted by: taylork at July 20, 2011 05:24 AM (5wsU9)

34 One of Ryan's questions about the Gang of Six proposal:

Unspecified Savings Relative to What?  The plan is described as savings relative to a “baseline.”  The plan appears to use three different baselines for showing savings:  1) CBOÂ’s current law March baseline; 2) an undefined modification to that baseline (what it calls a “plausible baseline”); and 3) the Fiscal CommissionÂ’s baseline.  It does not provide annual spending and revenue totals by category, relying instead on savings relative to three different baselines.  So, it is unclear what exactly the spending and tax proposals are.

Posted by: '80sBaby at July 20, 2011 05:25 AM (o2lIv)

35

29

The more I see of Ryan, the more I like him: it's not just red-meat statements like that but he seems to be seriously attempting to face the fiscal problems we have allowed to fester into a crisis.

Posted by: Retired Buckeye Cop at July 20, 2011 05:26 AM (S2+uh)

36 That AA order is at best middling news for Boeing. It's basically 260 orders for Airbus to 100 for Boeing (the other 100 are "intentions" for a model Boeing hasn't announced it's actually building yet), all from a customer which used to be almost exclusively Boeing.

Airbus has really stolen a march on Boeing with the A320neo.

Posted by: Waterhouse at July 20, 2011 05:27 AM (qAnal)

37 Re: the Wisconsin story: there is absolutely no doubt that these people are calculating their benefits on a daily basis and getting out while the getting is good for them.  Of course the downside is that these people will now still be (relatively) young retirees but will still be as libtard as they always were so they can now be the professional hippie activists they always dreamed of being.

Posted by: chemjeff at July 20, 2011 05:28 AM (s7mIC)

38 33
You should start your own rating agency with the following ratings: Not boned, boned, DOOOOOOOOMMMMMMMMMEEEEEEEDDDDD!!!!!! (With Bender from Futurama giving you the accompanying sound fx).
Posted by: taylork at July 20, 2011 09:24 AM (5wsU9)

Your wish is my command (and x2 to boot!).

Posted by: No Whining at July 20, 2011 05:28 AM (sFGS7)

39 Quite honestly, can someone explain to me why the US _deserves_ an AAA rating?

Posted by: chemjeff at July 20, 2011 05:28 AM (s7mIC)

40 Do we take the deal and keep our powder dry for 2012, or do we bunker in and insist on a better deal? So what do we do with the powder after we get rolled in 2012 precisely because we didn't use the powder to get the spending under control or to prevent tax hikes while at the same time, making only enough cuts that could barely wad a shotgun shell, which is a blank anyhow being there is no powder in the damn thing.

Posted by: Drider at July 20, 2011 05:28 AM (HaJD9)

41 "I'd love for him to be Sec. Tres. with RON! PAUL! Fed Chairman."

If Ron P. were the FED chairman, he'd be out of a job in 5 seconds, which is how long it would take him to abolish the FED.

Posted by: Sukie Tawdry at July 20, 2011 05:29 AM (MPtFW)

42 Quite honestly, can someone explain to me why the US _deserves_ an AAA rating?

Because they're about to come up with a new "AA!AA!AA++ " rating that will make AAA look like crap.

Posted by: taylork at July 20, 2011 05:30 AM (5wsU9)

43 Posted by: Sukie Tawdry at July 20, 2011 09:29 AM (MPtFW)

I'm glad you agree with me.

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:31 AM (8y9MW)

44 Thomas Sowell is awesome. First infotainment channel to place him opposite the krugman wins. It would be like a rottweiler on a newborn... 

Posted by: theworldisnotenough at July 20, 2011 05:32 AM (rEuYG)

45 39
Quite honestly, can someone explain to me why the US _deserves_ an AAA rating?
Posted by: chemjeff at July 20, 2011 09:28 AM (s7mIC)

Because the US economy is like AAA batteries - packed with power! (If there were a smidgeon of honesty in the system and using battery sizes as a scale, we'd be rated as "dry cell" by now.)

Posted by: No Whining at July 20, 2011 05:33 AM (sFGS7)

46 I can't wait to hear Ace's seat-of-the-pants smooching comments on Christie talking about the debt negotiations

"The Republicans and Democrats should get in a room and stay in the room until they fix it," Christie said. "Instead, they seem to be sloganeering at each other.... And it's not helpful"

Right, because that's exactly what he did. I seem to remember he beat Democrats over the head with common-sense proposals until they were woozy and surrendered.

Oh yeah, did I say he's headed to Iowa? Not disingenuous at all.

Posted by: Marcus at July 20, 2011 05:33 AM (CHrmZ)

47

The more I see of Ryan, the more I like him: it's not just red-meat statements like that but he seems to be seriously attempting to face the fiscal problems we have allowed to fester into a crisis.

Posted by: Retired Buckeye Cop at July 20, 2011 09:26 AM (S2+uh)

I heard an interview with him on Laura Ingraham in which he came off extremely well.  One of the more surprising things he said was that when he was first in Congress he approached Barney Frank, of all people, to get advice on how to do his job well and Frank said "Figure out an area to become an expert on and become better informed on it than your peers".  Ryan decided to become an expert on the budget which, he admitted, wasn't particle physics but just a lot of hard work in painstakingly sifting through all the garbage to find out what's in there.  He did it and you can see the results.

Posted by: Captain Hate at July 20, 2011 05:33 AM (zsvKP)

48 (If there were a smidgeon of honesty in the system and using battery sizes as a scale, we'd be rated as "dry cell" by now.)

Let's hope "rechargeable" too

Posted by: chemjeff at July 20, 2011 05:33 AM (s7mIC)

49

Doom thread? This must be the place to mention what I heard on the radio this morning:

A Clockwork Orange musical.

Posted by: Mama AJ at July 20, 2011 05:34 AM (XdlcF)

50 A judge enjoining or staying layoffs almost certainly forces the municipality to file for BR. Once the filing is made, the Court that issued the injunction is stripped of jurisdiction to continue the injunction or staty, and the BR judge takes over

Posted by: glowing blue meat at July 20, 2011 05:35 AM (K/USr)

51

I'd give BOTH my boobies to see him debate the JEF. 

Posted by: Tami at July 20, 2011 09:18 AM (X6akg)

We will have to ensure that they are of sufficient quality. Please post photos.

Posted by: Typical perverted moron at July 20, 2011 05:36 AM (LH6ir)

52 Ace, change your policy.






Just fucking kidding.....God don't get so pissed.


Posted by: Sukie Tawdry at July 20, 2011 05:37 AM (MPtFW)

53

Posted by: progressoverpeace at July 20, 2011 09:35 AM (G/MYk)


Oh I see, so it's all relative.  We're boned but everyone else is boned worse.  Got it.

Posted by: chemjeff at July 20, 2011 05:37 AM (s7mIC)

54

The more I see of Ryan, the more I like him: it's not just red-meat statements like that but he seems to be seriously attempting to face the fiscal problems we have allowed to fester into a crisis.

Only grownup in the room.  The whole help us Paul Ryan you're our only hope thing isn't really a joke.

 

 

 

Posted by: alexthechick at July 20, 2011 05:37 AM (VtjlW)

55 Gang of Six proposal - A stroke...

And they were already 1 over par for the hole...

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:39 AM (8y9MW)

56 49
Doom thread? This must be the place to mention what I heard on the radio this morning:
A Clockwork Orange musical.Posted by: Mama AJ at July 20, 2011 09:34 AM (XdlcF)

A recently hired colleague informed me that A Clockwork Orange is one of ten decreed "thou shalt not see" movies by the government of the PRC. She asked me if I had ever seen it. I told her that I had, when it came out forty years ago. Her most telling remark in the whole conversation? "(Based on the plot and content), it looked as though it had been made only yesterday."

Posted by: No Whining at July 20, 2011 05:39 AM (sFGS7)

57

A judge enjoining or staying layoffs almost certainly forces the municipality to file for BR. Once the filing is made, the Court that issued the injunction is stripped of jurisdiction to continue the injunction or staty, and the BR judge takes over

Hmm.  I hadn't thought about that.  That's a fantastic way to punt on making the hard decisions without having to appear to be punting.  I'm trying to figure out what the union thinks is going to happen when the bankruptcy hits.

Posted by: alexthechick at July 20, 2011 05:39 AM (VtjlW)

58

 I'm trying to figure out what the union thinks is going to happen when the bankruptcy hits.

The JEF gives the company to the unions.

Posted by: Velvet Ambition at July 20, 2011 05:41 AM (3xl01)

59

Speaking of Greece, I'm sure someone here at the HQ must have mentioned Hillary's silly attempt to prop them up and make them feel good about themselves.  But if you haven't read it, here you go (comments in color are mine):

"We stand by the people and government of Greece as you put your country back on a path to economic stability and prosperity (Because there's nothing like riots and firebombs to engender stability - MWR)," Clinton said, appearing with Greek Foreign Minister Stavros Lambrinidis and praising Greece for its recent austerity measures (The austerity measures that the Greek people are protesting against with the rage of a thousand suns because they don't want to have to work for their money, although they don't seem to mind spending their days rioting in the streets. You'd think they could channel some of that energy towards, I dunno, making feta or something. Baklava. -MWR)"Committing to bring down the deficit and passing the medium-term fiscal strategy were vital first steps. We know these were not easy decisions. They were acts of leadership."

Leadership? Actually, in other places, this is known as paying one's bills and living within one's means. (I think Hillary learned her definition of "leadership" from Barack. -MWR)

(h/t WZ, link to Investors.com)

Posted by: MWR at July 20, 2011 05:41 AM (4df7R)

60 Ace, change your policy.

Posted by: Sukie Tawdry at July 20, 2011 09:37 AM (MPtFW)

Shows the difference between Federal Courts in CA and SC. The court in SC just sent a guy to the big house for one year for the exact same thing.

Posted by: Vic at July 20, 2011 05:42 AM (M9Ie6)

61 Posted by: alexthechick at July 20, 2011 09:37 AM (VtjlW)

I keep hoping that someone will jawbone him into running for President in 2012. I honestly can't think of anyone else I'd rather see get the job right now. He's a bit weak on foreign policy, but I have no doubt he's a quick study. His reluctance to run is a point in his favor -- I don't trust people who actively seek out power.

Posted by: Monty at July 20, 2011 05:42 AM (/0a60)

62 I am sick and tired of this bullshit "best deal we can get for now" stuff. Okay, fine, no deal. Just bump into the debt limit and cut the spending 43%. Get serious or GTFO.

Posted by: blaster at July 20, 2011 05:42 AM (Fw2Gg)

63

It is quite insane for anyone to look at downgrading the US without having examined the rest of the world, most of which would suffer far more from a US default than the US would.


Posted by: progressoverpeace at July 20, 2011 09:35 AM (G/MYk)

I remember not that long ago that people were anticipating the Euro to become the international currency of choice and that OPEC would only accept Euros instead of dollars.  I had a good laugh at that when I considered how the European Union had compromised every fucking one of their standards for member nations to become part and parcel of that ponzi scheme.  However the cocksucker in chief is doing his fucking best, with the complicity of Repukes in the senate, to make that a reality.

Posted by: Captain Hate at July 20, 2011 05:43 AM (zsvKP)

64 61
Posted by: MWR at July 20, 2011 09:41 AM (4df7R)

She would have done them more good by announcing that, starting now, she and 'Chelle were designating Greece as sole supplier of fabric for their clothing needs. The economy would have skyrocketed. (How can they do it, you ask? Volume!)

Posted by: No Whining at July 20, 2011 05:45 AM (sFGS7)

65

Loved the Greece Deserves Communism story, except for this part:

How Greece conned its way into the European Union while hard working Turkey was left begging is a testament to the astute diplomats in Brussels, no doubt consulting their playbook on what dodge they can conjure up next to stick someone else with the bill.

While Greece is a lead-filled albatross on the rapidly sinking (into debt) European Union, at least it isn't trying to behead the EU on its way down like the Turks would be doing, given their current Islamist trend.

 

Posted by: Kratos (Ghost of Sparta) at July 20, 2011 05:47 AM (9hSKh)

66 They're going after McConnell.  Fucking-a man.  This is great.

Posted by: Sukie Tawdry at July 20, 2011 05:49 AM (MPtFW)

67

The JEF gives the company to the unions.

Posted by: Velvet Ambition at July 20, 2011 09:41 AM (3xl01)


And the Feds support the company forever!11!!1!!!!

Posted by: consequence of poor judgment at July 20, 2011 05:49 AM (le5qc)

68 Posted by: Sukie Tawdry at July 20, 2011 09:49 AM (MPtFW)

"Cut, Run, and Hide" indeed.

Go, McConnell, go!

No, really: go.  We don't want you here anymore.  Go away.  Make like a tree and get out of here.  Make like a drum and scram.

Posted by: AllenG (Dedicated Tenther) at July 20, 2011 05:50 AM (8y9MW)

69 Posted by: Kratos (Ghost of Sparta) at July 20, 2011 09:47 AM (9hSKh)

Maybe membership in the EU would have helped to mitigate the malign influence of the Islamists.

I'm not certain that we can change Islam, but this would have been an interesting test case.

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 05:50 AM (LH6ir)

70 64 I am sick and tired of this bullshit "best deal we can get for now" stuff. Okay, fine, no deal. Just bump into the debt limit and cut the spending 43%. Get serious or GTFO.
Posted by: blaster at July 20, 2011 09:42 AM (Fw2Gg)

The Senate is a temporal and biological oddity: it is trapped in the Cambrian Period (the Age of Mollusks), a time before backbones first appeared.

Posted by: No Whining at July 20, 2011 05:51 AM (sFGS7)

71 Mmmmmm, fresh hot piping DOOM. My favorite. Should anyone care what an impeached former presnit and disbarred attorney has to say on the debt ceiling, here ya go:
 
Former President Bill Clinton would invoke the 14th Amendment - “without hesitation, and force the courts to stop me,” he says - to raise the debt ceiling if he were in President Barack Obama’s shoes, with the deadline to raise the limit just two weeks away.

“I think the Constitution is clear and I think this idea that the Congress gets to vote twice on whether to pay for [expenditures] it has appropriated is crazy,”
 
Howzabout them apples. Sorry for the Politico link (yuck).

Posted by: GnuBreed at July 20, 2011 05:52 AM (ENKCw)

72 65
I remember not that long ago that people were anticipating the Euro to become the international currency of choice and that OPEC would only accept Euros instead of dollars. 
Posted by: Captain Hate at July 20, 2011 09:43 AM (zsvKP)

I wonder how Tom Brady's main squeeze, Gabrielle Bundt Cake (or whatever her name is) is making out by having insisted upon being compensated exclusively in Euros for her work?

Posted by: No Whining at July 20, 2011 05:54 AM (sFGS7)

73

I keep hoping that someone will jawbone him into running for President in 2012.

He is, hands down, my first choice.  The fact that he doesn't want it makes it even better.  Doesn't he have fairly small children though?  I bring that up because I shudder to think what will happen to his family when he does run (I'm presuming 2016 if not 2012).

Posted by: alexthechick at July 20, 2011 05:54 AM (VtjlW)

74

 I'm trying to figure out what the union thinks is going to happen when the bankruptcy hits.

The JEF gives the company to the unions.

Well, look at what happened to the secured bond holders of GM.

Posted by: Ben at July 20, 2011 05:54 AM (wuv1c)

75

Maybe membership in the EU would have helped to mitigate the malign influence of the Islamists.

Going to have to disagree with you there.  IIRC, part of the reason why Turkey is now in the thrall of the AKP and Recep Tayyip Erdogan is the Turks lessened the influence of the military in their elections so that they could apply for EU membership.

progressoverpeace had a better-phrased explanation for this, but here is the general gist of that argument.

Posted by: Kratos (Ghost of Sparta) at July 20, 2011 05:54 AM (9hSKh)

76 Posted by: Sukie Tawdry at July 20, 2011 09:49 AM (MPtFW)

McConnell is the one voice of reason in that whole mess. What is wrong with trying to find a consensus -- some middle ground -- so that our once great country can return to a more rational way of dealing with the misery in its midst? Being intransigent is not an attribute, but a character flaw.

How many babies have to die from lack of prenatal care? How many people have to starve in our streets? How much unfairness in our financial system must we tolerate? And it's all for the fat-cats and the wannabe industrialists like many of the people on this blog. Stop looking out for yourselves, and start caring about those around you!

Shame on you!

Posted by: Lucy'sRabbit (NJProgressive) at July 20, 2011 05:55 AM (LH6ir)

77 So a judge can enjoin a layoff of judges?

Posted by: Jean at July 20, 2011 05:56 AM (WkuV6)

78 81 So a judge can enjoin a layoff of judges?

Posted by: Jean at July 20, 2011 09:56 AM (WkuV6)

NUANCE.

Posted by: MWR at July 20, 2011 05:58 AM (4df7R)

79

Heh.  Yep.  I remember when the Yen was going to take over the world and Tokyo was the financial center of the universe.

Why is it when nations go through boom times and vast economic expansion that they then turn around and undo everythingt hat allowed for that expansion?

Posted by: Ben at July 20, 2011 05:58 AM (wuv1c)

80 Posted by: Kratos (Ghost of Sparta) at July 20, 2011 09:54 AM (9hSKh)

Ataturk had it structured nicely. Whenever the Islamists got too uppity, the army slapped them down. And you are correct that the changes in Turkey in pursuit of the EU may have contributed to the rise of Islam. But my suggestion was that exposure to the decadence of Western Europe may have moderated the feelings of many Turks. Just a suggestion.

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 05:58 AM (LH6ir)

81 80
Posted by: Lucy'sRabbit (NJProgressive) at July 20, 2011 09:55 AM (LH6ir)

What led you to imagine we give a shit what you think?

Posted by: No Whining at July 20, 2011 05:59 AM (sFGS7)

82 @64 I am sick and tired of this bullshit "best deal we can get for now" stuff. Okay, fine, no deal. Just bump into the debt limit and cut the spending 43%. Get serious or GTFO. This. Also, why is Moody picking on this southern states?

Posted by: Legacy at July 20, 2011 05:59 AM (rjFpy)

83 Posted by: Lucy'sRabbit (NJProgressive) at July 20, 2011 09:55 AM (LH6ir)

Remember: if you feed the trolls, they will only continue to crap in your yard.

Posted by: Monty at July 20, 2011 05:59 AM (/0a60)

84 The State of Connecticut has submitted an application to be a member in good standing to the LOTB. Some may recall Lauraw's post from last week. Short synopsis is that the state employee unions turned down a sweetheart concession package offered by our Dem gov in order to meet the constitutional requirement of a "balanced budget." I put that in quotes because of the bullshit projected savings. There was no way we were going to save $100+ million dollars by requiring state employees to have an annual physical, much less another $200 million by implementing suggestion box changes to cite a couple examples. Union bylaws require 80% approval and 13 out of the 15 bargaining units to ratify any concessions. The final vote was 57% approval and only 8 units approval. Layoff notices started going out last week starting with state troopers and COs. The response from the unions? Simply change the rules to require a simple majority and have a do over. So we actually had a chance to seriously shrink the size of state government only to have the rug yanked out from under our feet. Hardly unexpected, but I wonder where these people think all the money is going to come from when CT is a dried up husk of a state populated only by the entitlement class and government workers.

Posted by: The Outlaw in the Heavenly Hall at July 20, 2011 05:59 AM (prmBd)

85

Quoting an Insty meme:  Worst.  Political.  Class.  Ever.

Folks, you can try to fool math.  Math is never fooled.

 

Posted by: Circa (Insert Year Here) at July 20, 2011 05:59 AM (B+qrE)

86 "But, this is Europe.  Fucking up everything around them is what they do."

Posted by: progressoverpeace at July 20, 2011 09:57 AM (G/MYk)

LMAO.

Well said.

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 05:59 AM (LH6ir)

87 Posted by: No Whining at July 20, 2011 09:59 AM (sFGS7)

You been socked, homie. Like I said: don't throw peanuts at the trolls.

Posted by: Monty at July 20, 2011 06:00 AM (/0a60)

88 "Shame on you."   ahhhhhhhhh, Lucy'sRabbit, eat shit.  Or if you're a sock, well then, not bad.  Not bad at all.

Posted by: Sukie Tawdry at July 20, 2011 06:01 AM (MPtFW)

89 Not to take anything away from the Doom Master, but this little lady from Texas has boiled down the  NWO quite nicely.  She may have cornered teh Doooooom market. 

If there are any Idaho Morons here, why haven't we heard of the Butch Otter land giveaway (to China) to satisfy part of our debt?  (It's at 6:10; another notable moment is at 11:47.)  via New Zeal

Posted by: RushBabe at July 20, 2011 06:01 AM (Ew27I)

90 Posted by: Monty at July 20, 2011 10:00 AM (/0a60)

But I'm hungry!

Posted by: Lucy'sRabbit (NJfootcover) at July 20, 2011 06:01 AM (LH6ir)

91

From the Let Greece go Commie link... (and I agree)

"The uneasy peace that has existed since the colonels were booted merely masks underlying tensions as every Greek worries, is someone else working fewer hours than I am?"

LOL!

Posted by: Lemon Kitten at July 20, 2011 06:03 AM (0fzsA)

92 92 You been socked, homie. Like I said: don't throw peanuts at the trolls.
Posted by: Monty at July 20, 2011 10:00 AM (/0a60)

Sockpuppeting as a troll: a real resume enhancer ...

Posted by: No Whining at July 20, 2011 06:05 AM (sFGS7)

93 I hope everyone realizes that everything this crypto Muslim is/has doing/done is aimed solely as a distraction for the disaster that is coming soon to a  population center near you.

While we're all huffing and puffing about the debt and the deficit and Obi Won Kenyobi is acting the Dick-in-Chief, Iran is chugging along on it's path to glory and nuclear jihad.

All this B.S. will look like a spring day when those crazy eyed Mullahs go on tv like a bad Our Man Flint remake (you know where all the pointy heads address the world and scold everyone about how bad they've been and welcome to the Brave New World courtesy of science) and handing out ultimatums backed by Nuclear Missiles.

And that's only if they're feeling generous. If they're not, they'll just light up a few of western civilization's prize urban centers and watch the politicians kneel down and put their asses in the air hoping that the Grand Mahdi is feeling merciful.

Of course Wall Street won't be phased, they're mostly doing they're bidding now as it is.

Say hello to the new boss. NOT the same as the old boss.

Posted by: Nameless Terror and Abject Fear at July 20, 2011 06:06 AM (7b9N1)

94  86 80
Posted by: Lucy'sRabbit (NJProgressive) (LH6ir)
Posted by: CharlieBrown'sDildo (NJConservative)  (LH6ir)
What led you to imagine we give a shit what you think?

Posted by: No Whining at July 20, 2011 09:59 AM (sFGS7) 

Same checksum. BTW, did you hear that Bachman has a disorder that causes a hormonal unbalance every 28 days? Gets moody and bitchy and eats lots of chocolate.

Posted by: Trollie McTrollisson at July 20, 2011 06:07 AM (136wp)

95 Booms and busts are natural, but centralized booms lead to violent, long, and unnatural busts. Posted by: progressoverpeace at July 20, 2011 10:08 AM (G/MYk) No, they're real and they're spectacular!

Posted by: blaster at July 20, 2011 06:10 AM (Fw2Gg)

96 Also, why is Moody picking on this southern states?

Posted by: Legacy at July 20, 2011 09:59 AM (rjFpy)

See the other link that went to Moody's itself (AP left that out). It wasn't just Southern States. It was States with heavy federal presence. (SC has a lot of military bases).

So Moody's is anticipating that if the spending dosen't halt and the U.S. credit is downgraded the ability of the government to continue financing military and other projects will be harmed so States with a lot of that get hurt.

Not States with heavy welfare stuff are being hit. (One wonders about that)

Posted by: Vic at July 20, 2011 06:10 AM (M9Ie6)

97 101
Booms and busts are natural, but centralized booms lead to violent, long, and unnatural busts.
Posted by: progressoverpeace at July 20, 2011 10:08 AM (G/MYk)

And thus, in part, the genesis of Christina Hendricks ...

Posted by: No Whining at July 20, 2011 06:11 AM (sFGS7)

98 BTW, did you hear that Bachman has a disorder that causes a hormonal unbalance every 28 days? Gets moody and bitchy and eats lots of chocolate.

Posted by: Trollie McTrollisson

 

If you substitute the golf for chocolate I think this may be contagious.

Posted by: Blue Hen at July 20, 2011 06:11 AM (6rX0K)

99 But for Christine O'Donnell this would be the "gang of seven." 


Posted by: Call me Ishmael at July 20, 2011 06:11 AM (fiAaW)

100 OT: Am I going to have to stop watching TCM? What is with their Arabs in the movies focus? And what happened to Robert Osborne?


Posted by: Retread at July 20, 2011 06:12 AM (BO5ap)

101 103
Not States with heavy welfare stuff are being hit. (One wonders about that)
Posted by: Vic at July 20, 2011 10:10 AM (M9Ie6)

Purchases of bling and lottery tickets, my friend ...

Posted by: No Whining at July 20, 2011 06:13 AM (sFGS7)

102 If you substitute the golf for chocolate I think this may be contagious. Posted by: Blue Hen at July 20, 2011 10:11 AM (6rX0K) I think that the President has a double cycle then.

Posted by: blaster at July 20, 2011 06:13 AM (Fw2Gg)

103 105 BTW, did you hear that Bachman has a disorder that causes a hormonal unbalance every 28 days? Gets moody and bitchy and eats lots of chocolate.

Posted by: Trollie McTrollisson

If you substitute the golf for chocolate I think this may be contagious.

Posted by: Blue Hen at July 20, 2011 10:11 AM (6rX0K)

I take Midol© at the first sign of cramping. But Baracky just plays with his club and balls.

Posted by: Kal Penn at July 20, 2011 06:13 AM (136wp)

104 But for Christine O'Donnell this would be the "gang of seven." Christina Hendricks "gang of two"

Posted by: blaster at July 20, 2011 06:14 AM (Fw2Gg)

105

See the other link that went to Moody's itself (AP left that out). It wasn't just Southern States. It was States with heavy federal presence. (SC has a lot of military bases).

So Moody's is anticipating that if the spending dosen't halt and the U.S. credit is downgraded the ability of the government to continue financing military and other projects will be harmed so States with a lot of that get hurt.

Not States with heavy welfare stuff are being hit. (One wonders about that)

Posted by: Vic

 

Or are they anticipating the hit that these states will take if they do go ahead with spending cuts, particularly in the DoD? After all, everyone is afraid of even capping grandmas bennies, but the Navy is already planning to axe 3K sailors.

Posted by: Blue Hen at July 20, 2011 06:14 AM (6rX0K)

106 107 OT: Am I going to have to stop watching TCM? What is with their Arabs in the movies focus? And what happened to Robert Osborne?

Posted by: Retread at July 20, 2011 10:12 AM (BO5ap)

Wait, don't give us on us yet. We have a made-for-AMC movie - "Mohammed Conquers the Moon".

Posted by: AMC at July 20, 2011 06:15 AM (136wp)

107 Trollie McTrollisson  (136wp)
The Robot Devil (136wp)

Tit for tat.

Now go home and get your fucking shinebox.

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 06:16 AM (LH6ir)

108 Wait, don't give us on us yet. We have a made-for-AMC movie - "Mohammed Conquers the Moon".

Posted by: AMC

 

Well let's see. The Moon is barren, cannot sustain life, is rich in resources but is by definition a benighted hellhole. Yeah, Mohammad being involved would make sense.

Posted by: Blue Hen at July 20, 2011 06:18 AM (6rX0K)

109 @53

That's a terrible ruling, imho. 

Posted by: Y-not at July 20, 2011 06:18 AM (5H6zj)

110 114 Trollie McTrollisson  (136wp)
The Robot Devil (136wp)

Tit for tat.

Now go home and get your fucking shinebox.

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 10:16 AM (LH6ir)

Mother f**kin' mutt! You, you f**king piece of s**t!

(You did post them in sequence, didn't take an Edgar Allen Coe to figure it out)

Posted by: Tommy DeVito at July 20, 2011 06:19 AM (136wp)

111 114
Trollie McTrollisson (136wp)
The Robot Devil (136wp)
Tit for tat.
Now go home and get your fucking shinebox.
Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 10:16 AM (LH6ir)

And Lardass just sat back and enjoyed what he created. A complete and total barforama...

Posted by: No Whining at July 20, 2011 06:19 AM (sFGS7)

112 Posted by: Blue Hen at July 20, 2011 10:14 AM (6rX0K)

I wonder if those numbers add up, or if this is a politically motivated threat?

What portion of the total economy does the federal government represent in these states? Probably not appreciably more than the average. But that's just a guess.

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 06:19 AM (LH6ir)

113 Sorry to spoil it for you guys, but the American people will keep voting for politicians who promise to take money from "the other" and give it to them.

Posted by: Spoily McSpoilerson at July 20, 2011 06:20 AM (c9myX)

114 Another grueling day for King putt-putt:

Wednesday Jul. 20, 2011  All Times Eastern

7:00 AM
8:00 AM
9:00 AM
9:30 AM    Obama and Biden receive the presidential daily briefing.
10:00 AM Obama meets with senior advisers.
11:00 AM  Obama participates in regional interviews on the economy.
11:30 AM   Biden meets with leaders from the International Association of Chiefs of Police.
12:00 PM
12:30 PM   Carney briefs the press.
1:00 PM     Obama and Biden meet with Secretary of Defense Leon Panetta.

2:00 PM
3:00 PM
4:00 PM
5:00 PM

Posted by: Tami at July 20, 2011 06:21 AM (X6akg)

115 Posted by: Tommy DeVito at July 20, 2011 10:19 AM (136wp)

Yeah? And it still hooked someone.

"Hey! Fuck 'em! Fuck 'em in the ear! What are you talking about? Fuck 'em in the other ear, that son of a bitch!"

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 06:22 AM (LH6ir)

116

Or are they anticipating the hit that these states will take if they do go ahead with spending cuts, particularly in the DoD? After all, everyone is afraid of even capping grandmas bennies, but the Navy is already planning to axe 3K sailors.

Posted by: Blue Hen at July 20, 2011 10:14 AM (6rX0K)

I don't know you will have to follow the link to Moody's because they were not very clear and what they said didn't make sense. The reason for downgrading the feds would be because they did not cut spending. So you think the downgrade of the States would be if they did cut. Instead they call for downgrade of the States if the fed doesn't cut spending.

I suspect they may be some more BS associated with this one.

Posted by: Vic at July 20, 2011 06:22 AM (M9Ie6)

117 121
Posted by: Tami at July 20, 2011 10:21 AM (X6akg)

I love how they throw Joey Choo-Choo into the mix in order to make the workday look more full ...

Posted by: No Whining at July 20, 2011 06:23 AM (sFGS7)

118 Compton, CA, a city of delights comparable to classical Florence, is laying off 30% of its workforce. Well, unless a judge orders them not to.

If Compton, CA went ahead and laid off the employees what could the judge do? Have them arrested by the sheriff for contempt?

Posted by: The Robot Devil at July 20, 2011 06:24 AM (136wp)

119 Fox just had Karl Rove on talking about stuff. They asked about Bachmann's migraines. Of course he gave it credibility and said her doctors need to talk to the press.

He also talked about the BS WSJ/NBC poll with Romney in the lead and Bachmann coming up. His big thing was Romney consistently in the lead.

So he is toeing the Fox line on pushing the RINO candidate.

Posted by: Vic at July 20, 2011 06:25 AM (M9Ie6)

120 Another grueling day for King putt-putt

Barky is working too much. Get him out on the golf course. Where he can't do much harm.

Posted by: Retread at July 20, 2011 06:25 AM (BO5ap)

121 I love how they throw Joey Choo-Choo into the mix in order to make the workday look more full ...

Posted by: No Whining at July 20, 2011 10:23 AM (sFGS7)

I know, right?  Here it is without Choo-Choo & the mouthpiece.

7:00 AM
8:00 AM
9:00 AM
9:30 AM    Obama and Biden receive the presidential daily briefing.
10:00 AM Obama meets with senior advisers.
11:00 AM  Obama participates in regional interviews on the economy.
11:30 AM  
12:00 PM
12:30 PM  
1:00 PM     Obama and Biden meet with Secretary of Defense Leon Panetta.

2:00 PM
3:00 PM
4:00 PM
5:00 PM

So it appears he starts at 9:30 and is done by 2:00.  Nice work if you can get it.


Posted by: Tami at July 20, 2011 06:26 AM (X6akg)

122
OT, A U.S. drone was shot down while flying over a nuclear facility in Iran, according to reports in the Iranian media.

Claimed by the Iranians. But maybe it was just Achmed the Astronaut returning from Uranus


Posted by: The Robot Devil at July 20, 2011 06:26 AM (136wp)

123 @ 103 Posted by: Vic at July 20, 2011 10:10 AM (M9Ie6) Thanks. @112 Or are they anticipating the hit that these states will take if they do go ahead with spending cuts, particularly in the DoD? After all, everyone is afraid of even capping grandmas bennies, but the Navy is already planning to axe 3K sailors. Why wouldn't they wait to see what Obama does? That's incredibly presumptuous.

Posted by: Legacy at July 20, 2011 06:27 AM (rjFpy)

124 Posted by: Blue Hen at July 20, 2011 10:14 AM (6rX0K)

I wonder if those numbers add up, or if this is a politically motivated threat?

What portion of the total economy does the federal government represent in these states? Probably not appreciably more than the average. But that's just a guess.

Posted by: CharlieBrown'sDildo

The impact of force reductions and possibly bases closing is certainly real to communities. However I agree with Vic that the rationale isn't clear. it may be more political BS, or they may be superficially tying this to worst case scenarios involving no solution AND Obama trying to force a crisis (no checks going out, particularly to DoD).

 

There are at least three palusible motives, but damned if I know which one. How a bond investor sifts through this is a source of wonder.

Posted by: Blue Hen at July 20, 2011 06:28 AM (6rX0K)

125 Fox just had Karl Rove on talking about stuff. They asked about Bachmann's migraines. Of course he gave it credibility and said her doctors need to talk to the press.

He also talked about the BS WSJ/NBC poll with Romney in the lead and Bachmann coming up. His big thing was Romney consistently in the lead.

So he is toeing the Fox line on pushing the RINO candidate.

Posted by: Vic at July 20, 2011 10:25 AM (M9Ie6)

Rove has a real problem with Republican women.  It probably stems from his failed marriage and affinity for the taste of cock.

Posted by: Captain Hate at July 20, 2011 06:28 AM (zsvKP)

126 @127 Fox just had Karl Rove on talking about stuff. They asked about Bachmann's migraines. Of course he gave it credibility and said her doctors need to talk to the press.

That hit piece has me so mad I could spit.  And I'm not even in the Bachmann camp (although I haven't discounted her as a viable choice). 

This morning the Daily Caller helpfully reminded us that Bachmann worked for Jimmuh Carter back in the day. 

Posted by: Y-not at July 20, 2011 06:29 AM (5H6zj)

127 So it appears he starts at 9:30 and is done by 2:00.  Nice work if you can get it.

They used to call it bankers' hours. And I'll bet he doesn't miss lunch.

Posted by: Retread at July 20, 2011 06:29 AM (BO5ap)

128 129
So it appears he starts at 9:30 and is done by 2:00.  Nice work if you can get it.
Posted by: Tami at July 20, 2011 10:26 AM (X6akg)

We're not crediting Barky for the time he spends reading and responding to ten letters per day from concerned American citizens. Then again, how long does it take to scribble, "I won, now STFU!" ten times?

Posted by: No Whining at July 20, 2011 06:29 AM (sFGS7)

129 Of course he gave it credibility and said her doctors need to talk to the press.

Heh. And four years on, still no interest from "the press" about that giant scar on El Jefe's noggin.

Posted by: Waterhouse at July 20, 2011 06:29 AM (qAnal)

130 133 Fox just had Karl Rove on talking about stuff. They asked about Bachmann's migraines. Of course he gave it credibility and said her doctors need to talk to the press.

He also talked about the BS WSJ/NBC poll with Romney in the lead and Bachmann coming up. His big thing was Romney consistently in the lead.

So he is toeing the Fox line on pushing the RINO candidate.

Posted by: Vic at July 20, 2011 10:25 AM (M9Ie6)

Rove has a real problem with Republican women.  It probably stems from his failed marriage and affinity for the taste of cock.

Posted by: Captain Hate at July 20, 2011 10:28 AM (zsvKP)

Karl Rove now 90% douche-tastic.

http://tinyurl.com/3lxuqgp

Posted by: The Robot Devil at July 20, 2011 06:31 AM (136wp)

131 @112 Or are they anticipating the hit that these states will take if they do go ahead with spending cuts, particularly in the DoD? After all, everyone is afraid of even capping grandmas bennies, but the Navy is already planning to axe 3K sailors.

Why wouldn't they wait to see what Obama does? That's incredibly presumptuous.

Posted by: Legacy

 

Because these are the only cuts that HAVE been specified. We already know that the Navy is in the process of cutting 3K. So, such a call by Moody's would make some sense. The DoD cuts do appear to be the only ones that people are talking about in a concrete manner.Hell, the Sec of Defnese was talking about them in theater. I'm sure that the forced Gay-ed indoctrination will be sacred though.

Posted by: Blue Hen at July 20, 2011 06:31 AM (6rX0K)

132

Rove has a real problem with Republican women.  It probably stems from his failed marriage and affinity for the taste of cock.

It's delicious and nutritious!

Posted by: Karl Rove at July 20, 2011 06:32 AM (zgZzy)

133 136 129
So it appears he starts at 9:30 and is done by 2:00.  Nice work if you can get it.
Posted by: Tami at July 20, 2011 10:26 AM (X6akg)

We're not crediting Barky for the time he spends reading and responding to ten letters per day from concerned American citizens. Then again, how long does it take to scribble, "I won, now STFU!" ten times?

Posted by: No Whining at July 20, 2011 10:29 AM (sFGS7)

Hell, you could program that into an Auto-Pen.

Posted by: The Robot Devil at July 20, 2011 06:32 AM (136wp)

134 *Why wouldn't they wait to see what Obama does? That'd be incredibly presumptuous. I just don't see that happening.

Posted by: Legacy at July 20, 2011 06:32 AM (rjFpy)

135 Heh. And four years on, still no interest from "the press" about that giant scar on El Jefe's noggin.

Posted by: Waterhouse at July 20, 2011 10:29 AM (qAnal)

Neither Slick nor El JEFe ever released their medical records; but Bachmann's migraines have an MFMer chasing her to her car like a crazed stalker before getting deservedly tuned up.

Posted by: Captain Hate at July 20, 2011 06:32 AM (zsvKP)

136 Then again, how long does it take to scribble, "I won, now STFU!" ten times?

Not long at all if he uses that autopen thingy. No, wait, he saves that to sign legislation, doesn't he?

Posted by: Retread at July 20, 2011 06:33 AM (BO5ap)

137 Mike Lee is on Glenn Beck now

Posted by: Ben at July 20, 2011 06:36 AM (wuv1c)

138 Rove also happened to skip over the fact that pretty much every candidate for Pres had released their medical records ... escept for the Indonesian smoker.  Now, I'm a smoker, so I don't care much, but the official word of the United States is that cigarette smoke is more dangerous than nuclear waste ...  Maybe Barky will release a xerox of his medical records to Kos, someday?  People love getting xeroxes, with artifacts, from Barky.

Rove is wet turd.

Posted by: progressoverpeace

 

Ya know what'd be nice AND would help JEF look like a centrist? He could consent to piss tests like the peasants he lords over in the DoD. That would rule out the old cocaine habit. And maybe they could crank up one of the TSA nudie scanner and run him through it to get a chest x-ray on the hoof while showing solidarity with the 95 year olds being felt up. That should allay concerns about the smoking.

 

Oh yeah, I nearly forgot. Where I work, we have to announce whether we smoke, and life insurance and health insurance premiums go up. What has he declared?

Posted by: Blue Hen at July 20, 2011 06:36 AM (6rX0K)

139

Rove has a real problem with Republican women.  It probably stems from his failed marriage and affinity for the taste of Mexican cock.

Not to quibble, but we must be specific.

Posted by: Curmudgeon at July 20, 2011 06:37 AM (ujg0T)

140 More DOOM!

Kasich is tanking in the polls. The braindead Buckeyes are fighting hard to paint SB 5 as the end of days for all employees- not just those in the public sector. And unfortunately they're winning. Quinnipiac has the SB 5 repeal bill at 56-32 in favor of repeal.  They'll be more motivated to repeal it - and sadly, I think they will.

I cannot wait to get the hell out of this state.

Posted by: laceyunderalls at July 20, 2011 06:38 AM (1xB5r)

141 If there are any Idaho Morons here, why haven't we heard of the Butch Otter land giveaway (to China) to satisfy part of our debt?  (It's at 6:10; another notable moment is at 11:47.)  via New Zeal

Posted by: RushBabe at July 20, 2011 10:01 AM (Ew27I)

Because he has assured us once the Chicoms set up an all chinese owned and run city within a city, they will most assuredly employ all the unemployed Idahoans, and will not, NOT, I tell you actually rule the self contained city with a communist iron fist.   Win/win from the man who married JR Simplot's daughter.

Jobs in exchange for our souls.  Such an elegant solution.   Here is yet another state where the North should secede from the South. Fookin' Boise.

Posted by: Derak at July 20, 2011 06:38 AM (M31eR)

142 @140 Posted by: Blue Hen at July 20, 2011 10:31 AM (6rX0K) But we have enough money to cover the military and seniors ... or do you believe Obama will go ahead with deep military cuts anyway? Personally, I just don't see that happening.

Posted by: Legacy at July 20, 2011 06:40 AM (rjFpy)

143 But we have enough money to cover the military and seniors ... or do you believe Obama will go ahead with deep military cuts anyway? Personally, I just don't see that happening. Why do you think Panetta is SecDef? Because of his military background?

Posted by: blaster at July 20, 2011 06:43 AM (Fw2Gg)

144 http://tinyurl.com/3tlkesr

For a more in depth look at the Chinese city within a city concept. Coming to a city near you, not just in Boise.

Posted by: Derak at July 20, 2011 06:44 AM (M31eR)

145 But we have enough money to cover the military and seniors ... or do you believe Obama will go ahead with deep military cuts anyway?

I thought one of the CRs that passed a couple of months ago ensured that the military pay was funded through the end of the year. Anyone else remember this?

Posted by: Retread at July 20, 2011 06:45 AM (BO5ap)

146

The credit rating agency said it has placed on review for possible downgrade the triple-A bond ratings of South Carolina, Maryland, New Mexico, Tennessee and Virginia.

No surprise on New Mexico--it might as well be acknowledged as an actual welfare state.  Without all the government spending that goes on here, from military bases to Los Alamos to Indian welfare programs, this state would instantly revert back to being one huge glorified sheep ranch, which it was for several decades before WW2.

Posted by: Red Rocks Rockin at July 20, 2011 06:46 AM (GAh/e)

147  @140 Posted by: Blue Hen at July 20, 2011 10:31 AM (6rX0K)

But we have enough money to cover the military and seniors ... or do you believe Obama will go ahead with deep military cuts anyway?

Personally, I just don't see that happening.

Posted by: Legacy

I noted 'worst case scenario' and 'Obama provoking a crisis'. I get that there is sufficient money on hand. But Moody's would be doing their job (finally) by taking into account not only the figures but the political machinations.

 

Also note that there are serious warnings about downgrades even if they crazy glue some piece of crap together and render the debt ceiling into meaninglessness. Unless mounting debt is adressed, they may and should downgrade us. Note which warning is getting media play and which is not.

Posted by: Blue Hen at July 20, 2011 06:46 AM (6rX0K)

148 Beck unfortunately believes that CCB means something. It's eyewash at least the way its put together now.

Posted by: blaster at July 20, 2011 06:47 AM (Fw2Gg)

149 oh, and...last? new thread up. 

Posted by: Derak at July 20, 2011 06:47 AM (M31eR)

150 Kasich is tanking in the polls. The braindead Buckeyes are fighting hard to paint SB 5 as the end of days for all employees- not just those in the public sector. And unfortunately they're winning. Quinnipiac has the SB 5 repeal bill at 56-32 in favor of repeal.  They'll be more motivated to repeal it - and sadly, I think they will.

I cannot wait to get the hell out of this state.

Posted by: laceyunderalls

 

What were their sample numbers? Who did they poll? Unless this is likely voters, this is a reaction to scaremongering.

Posted by: Blue Hen at July 20, 2011 06:47 AM (6rX0K)

151 "We may end up with a wholly bizarre situation where a judge essentially orders a municipality to go bankrupt by preventing them from getting their payroll costs under control."

Math is its own judge.  This sort of thing shouldn't go to the courts, and the courts should recognize this.  No judge can issue an injunction against math.

Posted by: frode at July 20, 2011 06:49 AM (8z3Pa)

152 I thought one of the CRs that passed a couple of months ago ensured that the military pay was funded through the end of the year. Anyone else remember this? I think that probably assumed that we would borrow enough money to do so. The problem with the CR is that the spending level requires the government to borrow 43% of every dollar it spends.

Posted by: blaster at July 20, 2011 06:49 AM (Fw2Gg)

153 Kasich is tanking in the polls. The braindead Buckeyes are fighting hard to paint SB 5 as the end of days for all employees- not just those in the public sector. And unfortunately they're winning. Quinnipiac has the SB 5 repeal bill at 56-32 in favor of repeal.  They'll be more motivated to repeal it - and sadly, I think they will.

I cannot wait to get the hell out of this state.

Posted by: laceyunderalls at July 20, 2011 10:38 AM (1xB5r)

Don't despair; this is the last gasp of the union beast railing against reality.  Ohio is still basically a conservative state away from the blue hell holes and will ultimately prevail.  Fuck the polls; the only thing you need to know is that Twitch Strickland was sent packing despite the support of all the union goons and the backing of Clenis and the JEF.

Posted by: Captain Hate at July 20, 2011 06:52 AM (zsvKP)

154 For all the fucking around around here, I want to remind you that you are doing your country a great service with the DOOM warnings Monty. Thanks.

Posted by: motionview at July 20, 2011 06:52 AM (zRbkQ)

155 What were their sample numbers? Who did they poll? Unless this is likely voters, this is a reaction to scaremongering.

From July 12 - 18, Quinnipiac University surveyed 1,659 registered voters with a margin of error of +/- 2.4 percentage points. Live interviewers call land lines and cell phones.

I agree on the likely voter outcome, but the sentiment here now is overwhelmingly anti-Kasich. I hear it everywhere and it's infuriating.

The unions will pull this out - I have no doubt about that. The only way it even stays close is because there are other ballot measures on there - a voter id law and an opt-out for Obamacare. The problem is that most people aren't even aware those are on the ballot. It's all SB 5 all the time.

Posted by: laceyunderalls at July 20, 2011 06:52 AM (1xB5r)

156

For a more in depth look at the Chinese city within a city concept. Coming to a city near you, not just in Boise.

Posted by: Derak at July 20, 2011 10:44 AM (M31eR)

 

Meh.  Those zones will be easily nationalized when the eventual war comes and the Chinese nationals within them can be readily interned - perhaps by simply building a razor wire enclosure around the compound.  Cut off food shipments, and the problem is solved within a couple weeks.  Besides - we're already being dominated by commies grown fresh here in the US.  One set of commies is as bad as another.

Posted by: Reactionary at July 20, 2011 06:56 AM (xUM1Q)

157 Goldman Sachs to shed 1,000 jobs.





Wait -- things have gotten so bad that the side of Evil is having layoffs?

Posted by: Laurie David's Cervix at July 20, 2011 06:58 AM (EeYDk)

158 What were their sample numbers? Who did they poll? Unless this is likely voters, this is a reaction to scaremongering.

My understanding was that it was "adults".

Posted by: Vic at July 20, 2011 07:01 AM (M9Ie6)

159 Posted by: Derak at July 20, 2011 10:44 AM (M31eR)

Thanks for the Idahoan view and linky.  Why has there been no uproar?  With plans for Utah's Project 60 on the table, why aren't conservative stalwarts Jason Chaffetz and Mike Lee sounding the alarm?  I guess is's 'cause they're too busy endorsing Mitt for Brains.

Posted by: RushBabe at July 20, 2011 07:04 AM (Ew27I)

160 @155 Posted by: Retread at July 20, 2011 10:45 AM (BO5ap) That's a great question. Totally forgot about that. @157 Blue Hen at July 20, 2011 10:46 AM (6rX0K) That's what I'm saying - it's just as bad politically to go after the military as it is to go after seniors. No way Obama - assuming the debt ceiling is reached - cuts military spending. Also, I assumed the downgrade for the states would happen only if the debt ceiling comes and goes - I thought Moody would go after the fed in the crazy glue scenario you gave. Or maybe I'm not reading this right...

Posted by: Legacy at July 20, 2011 07:06 AM (rjFpy)

161 Posted by: Mallamutt, RINO President for Life at July 20, 2011 10:40 AM (OWjjx)

I'll put my hand anywhere I want!

So, what are you up to this afternoon?

Posted by: Lucy'sRabbit (NJfootcovering) at July 20, 2011 07:07 AM (LH6ir)

162 88 Posted by: Lucy'sRabbit (NJProgressive) at July 20, 2011 09:55 AM (LH6ir)

Remember: if you feed the trolls, they will only continue to crap in your yard.

Posted by: Monty at July 20, 2011 09:59 AM

We haven't had good trolls to play with for quite a while. This one just posts once and runs. This one is sockpuppet if you'll check the hash, it's one of our regulars.

Well done, CBD


Posted by: kbdabear at July 20, 2011 07:11 AM (so1xa)

163 168 Goldman Sachs to shed 1,000 jobs.

Wait -- things have gotten so bad that the side of Evil is having layoffs?
Posted by: Laurie David's Cervix at July 20, 2011 10:58 AM

Cool, that's 1,000 fewer ordered to donate to Jugears and Schmuckie by senior management

Posted by: kbdabear at July 20, 2011 07:13 AM (so1xa)

164 98 92 You been socked, homie. Like I said: don't throw peanuts at the trolls.
Posted by: Monty at July 20, 2011 10:00 AM (/0a60)

Sockpuppeting as a troll: a real resume enhancer ...

Posted by: No Whining at July 20, 2011 10:05 AM (sFGS7)

Sockpuppeting as a fake troll, or "spoof trolling" is a time-honored (relatively speaking) interwebz blog tradition.  Trouble is it's getting harder and harder to spot.  Stuff that was so over-the-top as to be instantly identifiable as spoof trolling is pretty much what so-called progressives actually believe and publish as they've gotten more and more unhinged. 

Posted by: Insomniac at July 20, 2011 07:17 AM (DrWcr)

165 As far as I am concerned being a troll and socking a troll are virtually the same thing. They both show stupidity.

A joke repeated until the ears fall off has no humor.

Posted by: Vic at July 20, 2011 07:21 AM (M9Ie6)

166 Posted by: Vic at July 20, 2011 11:21 AM (M9Ie6)

Why, thank you vic.

You have just confirmed that you are a humorless asshole. I always suspected it, but now I have proof.

Lighten up.

Posted by: CharlieBrown'sDildo (NJConservative) at July 20, 2011 08:04 AM (LH6ir)

167

Let the flame war begin!

Popcorn, couch, action!

Posted by: Bulldog in Kansas at July 20, 2011 08:23 AM (z1C58)

168 Goddammit, Vic, I am off your lawn!

Posted by: Gen-X at July 20, 2011 08:46 AM (2PTT7)

169 My understanding was that it was "adults".

Rush just called it the peepee kawkaw fuddyduddy b.s. poll.

Posted by: maverick muse at July 20, 2011 08:56 AM (lpWVn)

170 Rove has a real problem with Republican women.  It probably stems from his failed marriage and affinity for the taste of cock.

Rove's an asshole that only other assholes find compatible. Assholes of a feather and all...


Posted by: maverick muse at July 20, 2011 09:03 AM (lpWVn)

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