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The Ugly Truth About National Debt
Posted: Wed Jan 19, 2011 2:44 am
by Jccarlton
From CNN Money of all places:
http://money.cnn.com/2011/01/17/news/ec ... /index.htm
Duh, I've been saying this every place I could for two years now. I was saying this before the 2008 election. I was called crazy. Now I wish I was.
Posted: Wed Jan 19, 2011 6:06 am
by MSimon
The only thing the article gets wrong is that it expects instant results. I'd give the new Congress 6 months. If they haven't produced results by then....
Posted: Thu Jan 20, 2011 2:19 am
by hanelyp
One way or another I'm expecting a wild ride. How much from out of control dept vs. entitlement protests I can't predict yet.
Posted: Thu Jan 20, 2011 9:24 pm
by Scupperer
As far as I'm concerned, the House has already produced results: they passed a bill repealing the Health Care Act. It doesn't matter (yet) that it won't pass the Senate, or that the President will veto it if it does. All they have to do is stick to their guns until 2012, when 1/3 of the Senate is up for grabs, along with the Presidency.
They're next magic trick:
Cutting $2.5 trillion from the budget. Again, doesn't matter (yet) if it makes it to the President's desk. So long as the House passes it, the message is sent.
Posted: Sat Jan 22, 2011 2:38 pm
by MSimon
Scupperer wrote:As far as I'm concerned, the House has already produced results: they passed a bill repealing the Health Care Act. It doesn't matter (yet) that it won't pass the Senate, or that the President will veto it if it does. All they have to do is stick to their guns until 2012, when 1/3 of the Senate is up for grabs, along with the Presidency.
They're next magic trick:
Cutting $2.5 trillion from the budget. Again, doesn't matter (yet) if it makes it to the President's desk. So long as the House passes it, the message is sent.
I'll buy that. It wasn't true when I wrote my comment. I gave them six months. All they needed was a week. Nice start.