Here is the link.
I LOL at this right before I cried:
“We’ve incurred this debt. We have to pay our bills,” House Majority LeaderSteny Hoyer told POLITICO Wednesday.So if you have maxed out all your credit cards the standard procedure is to get another credit card and keep spending?
I wonder what Dave Ramsey would have to say about that. Actually, I don't have to wonder. I can guess that he would say something like "What is wrong with you? Are you really that stupid!?"
Already in the Senate, there is growing pressure in both parties for the creation of a novel bipartisan task force empowered to force expedited votes in the next Congress on deficit reduction steps now shunned by lawmakers.A task force of foxes to guard the henhouse.
Here is a good one:
As introduced Wednesday, the legislation sets no specific targets for deficit reduction, but its 18-member task force — 16 of whom would come from Congress — is promised immense leverage to force change if they can first come together behind a plan.The operative part is "if they can first come together behind a plan." LOL. For a congressman, being on that committee will be sort of like his day in the barrel. He knows if he doesn't perform well while he's in the barrel then the other guys won't perform well for him when they are in the barrel. The difference between that committee and the barrel behind the bunkhouse is that congressmen would do almost anything to get on that committee. It will be one of the most powerful positions in congress. Think about it. The committee tasked with cutting spending. There won't be any corruption associated with that, I'm sure.
I've got a better plan. How about just cut the entire federal budget by 25% the first year. I mean 25% off of the budget of every program and agency. The reason I'm only calling for a 25% cut is that I want to ease into this and give everyone a chance to get used to it. Then, cut 25% across the board again next year. And the next.
Here is another quote from a guy that has a tenuous grasp of reality:
“It is December. We don’t really have a choice,” Obey told POLITICO. “The bill’s already been run up; the credit card has already been used. When you get the bill in the mail you need to pay it.”That is House Appropriations Committee Chairman Dave Obey, democrat from Wisconsin. He even used the credit card analogy but he obviously doesn't live in the same universe that the rest of us do.
Here is a hint Dave: When your credit cards are all maxed out it is not time to call the credit card company and ask for an increase on your limit. It is time to stop spending and start paying that sucker off as fast as you can.
I thought that was so simple that even a five year old could understand. This guy is the best they can find in Wisconsin?
Though Treasury can buy itself time by moving assets around, it is already coming close to the current debt ceiling of $12.1 trillion.Is that referring to a balance transfer? Are you kidding? Max out your cards. Get a new card with the idea of transferring the balance so you don't have to pay this month. Then go max out all the cards again. Am I the only one that sees a problem with this?
Here is another:
Last spring, the Democratic-backed budget proposed to raise this to about $13 trillion, but given the current pace of borrowing, no one now expects that will be sufficient to get through 2010.Ouch. Why don't we just quit playing around and raise it to $1 quadrillion? That way the rest of the world could quit worrying about whether we'll ever pay off our debts. None of this " . . . may default . . . " stuff like Greece.