Representative Louis Gohmert on Debt Ceiling Legislation - C-SPAN Video Library
Tuesday, August 2, 2011
Schiff: Debt Deal is a Blank Check - CNBC
Schiff: Debt Deal is a Blank Check - CNBC
By: Peter Schiff
President of Euro Pacific Capita
Some other areas to investigate are as follows:
1. Baseline budgeting vs $0 budgeting--Congressman Louie Gohmert, Mike from East Texas, and Rush Limbaugh
Could it be Government "Budgeting" incorporates a 7% annual baseline increase for the US Government--CBO considers anything lower than this a cut which will be offset by a Tax Increase
2. Bush Tax Cuts==New Tax Increase.
Could it be that if they are left to expire, then that will be a Tax Increase.
Could it be that if they don't expire, then they will trigger a Tax Increase because the CBO projected them to expire.
3. GOHMERT: But, for example, there's no enforcement unless the OMB director starts -- files a sequestration report. Now, call me cynical but suppose the OMB director is a very good friend of the president and the president just says, "'Eh, don't issue a report." There's no enforcement mechanism.
I still believe that the only positive option was to not raise the debt limit.
Congress has folded and is irrelevant for the remainder of the Obama Regime.
What this legislation does is add certainty to continued uncertainty. Is that Insanity?
By: Peter Schiff
President of Euro Pacific Capita
By supposedly compromising to raise the debt ceiling, Congress and the President have now paved the way for ever higher levels of federal spending. Although, the nation was spared the trauma of borrowing restrictions, the actual risk of default existed solely in the minds of Washington politicians. But the real crisis is not, nor has it ever been, the debt ceiling. The crisis is the debt itself. Economic Armageddon would not have resulted from failure to raise the ceiling, but it will come because we succeeded in raising it. This outcome falls along the lines that I had forecast (See my commentary, "Don't Be Fooled by Political Posturing" from July 9th).This article expresses my understanding much better than I can.Both parties are now pretending that the promised cuts in spending outweigh the increase in the debt limit. But the $900 billion in identified cuts are spread over a decade and are skewed toward the end of that period. There are an additional $1.4 trillion in cuts that the plan assumes will be identified by a bi-partisan budget committee. But similarly empowered panels in the past have almost never delivered on their mandates....
Some other areas to investigate are as follows:
1. Baseline budgeting vs $0 budgeting--Congressman Louie Gohmert, Mike from East Texas, and Rush Limbaugh
Could it be Government "Budgeting" incorporates a 7% annual baseline increase for the US Government--CBO considers anything lower than this a cut which will be offset by a Tax Increase
2. Bush Tax Cuts==New Tax Increase.
Could it be that if they are left to expire, then that will be a Tax Increase.
Could it be that if they don't expire, then they will trigger a Tax Increase because the CBO projected them to expire.
3. GOHMERT: But, for example, there's no enforcement unless the OMB director starts -- files a sequestration report. Now, call me cynical but suppose the OMB director is a very good friend of the president and the president just says, "'Eh, don't issue a report." There's no enforcement mechanism.
I still believe that the only positive option was to not raise the debt limit.
Congress has folded and is irrelevant for the remainder of the Obama Regime.
What this legislation does is add certainty to continued uncertainty. Is that Insanity?
Monday, August 1, 2011
United States debt held by foreign countries - The Washington Post
United States debt held by foreign countries - The Washington Post
Interesting graph.
Mike from East Texas mentioned the US might not be the only one hurt from a Rating Downgrade.
Interesting graph.
Mike from East Texas mentioned the US might not be the only one hurt from a Rating Downgrade.
Don't Raise the Debt Limit!
American Congressman and Senator,
In my humble opinion, the vote that Doesn't Raise the Debt Limit is the only vote to slow government when it is obvious it is the only power left to Congress and America. It is the only means remaining between now and 2012. Time to Play the only card you have that can win. Don't just fold em.
This "debt agreement" proposed is nothing more than an authorization to continue spending NOW. Since the Libs can't do what's right and cut spending, let's not just pass the buck and HOPE those in power now, will make the right decision later. If the Regime doesn't have the will to do it now when they don't have the money, it's foolish to think they will do it later when they already have it.
This is the perfect outcome for Libs and Resident Obama. Give me my drugs now, and maybe I'll take treatment later. That is if I want to. Libs are government drug addicts and are not treatable on their own terms.
This is the most unethical, illegal, and ruthless Government America has ever seen, and if it isn't checked it will destroy America and The Constitution in our lifetime.
Time to stand up with the only real vote that counts.
After not raising the Debt Limit, focus on the following:
1. Support the subpoena served on HI to get access to Obama's Birth Certificate.
2. Help determine why Obama's Social Security Number is invalid.
3. Get to the bottom of the Regime walking guns to Mexico.
4. Work to stop the Destroy America Policies that increase and limit viable energy cost.
Eliminate, or investigate, the EPA
Stop Obamacare
Help eliminate uncertainty in taxes, business, investing, and campaigning.
Time to get out of the Congressional Wagon and keep the American Dream alive.
God Bless America
In my humble opinion, the vote that Doesn't Raise the Debt Limit is the only vote to slow government when it is obvious it is the only power left to Congress and America. It is the only means remaining between now and 2012. Time to Play the only card you have that can win. Don't just fold em.
This "debt agreement" proposed is nothing more than an authorization to continue spending NOW. Since the Libs can't do what's right and cut spending, let's not just pass the buck and HOPE those in power now, will make the right decision later. If the Regime doesn't have the will to do it now when they don't have the money, it's foolish to think they will do it later when they already have it.
This is the perfect outcome for Libs and Resident Obama. Give me my drugs now, and maybe I'll take treatment later. That is if I want to. Libs are government drug addicts and are not treatable on their own terms.
This is the most unethical, illegal, and ruthless Government America has ever seen, and if it isn't checked it will destroy America and The Constitution in our lifetime.
Time to stand up with the only real vote that counts.
After not raising the Debt Limit, focus on the following:
1. Support the subpoena served on HI to get access to Obama's Birth Certificate.
2. Help determine why Obama's Social Security Number is invalid.
3. Get to the bottom of the Regime walking guns to Mexico.
4. Work to stop the Destroy America Policies that increase and limit viable energy cost.
Eliminate, or investigate, the EPA
Stop Obamacare
Help eliminate uncertainty in taxes, business, investing, and campaigning.
Time to get out of the Congressional Wagon and keep the American Dream alive.
God Bless America
Against the Boehner Plan - Andrew C. McCarthy - National Review Online
Against the Boehner Plan - Andrew C. McCarthy - National Review Online
You could call this a cruel joke on a country that is already well over $14 trillion in debt — a country in which every newly born child opens his eyes as a debtor, well over $30,000 in the hole. But that would be premature, because I haven’t gotten to the punchline yet. The reason Speaker Boehner and the Republican establishment have suddenly stirred themselves to “cut” spending is their determination to keep the Ponzi scheme going. The “cuts” — less than $100 billion of which are real (the rest are consigned to the illusory “out years,” meaning they’re the responsibility of some future Congress) — are to be made in exchange for giving the government the authority to borrow another $2.5 trillion.What a brilliant mind and writer.
This will last only a few months because, at a rate of about $46,000 per second, the United States sinks $4 billion deeper in debt every day. But the $2.5 trillion stands to get President Obama through reelection without having much more attention called to his starring role in our dire straits.
US Debt Ceiling: 'Selective Default' Only Solution to US Debt: CIO - CNBC
US Debt Ceiling: 'Selective Default' Only Solution to US Debt: CIO - CNBC
Everybody gets it. This settlement leave the default to the Libs."It's incredibly frustrating to watch this slow train wreck taking place. All we have are incremental solutions to the problem and that's no good anymore. You need some very drastic solutions to shift America out of its paradigm because it's being chased by a hugely powerful China," Murrin said in an interview.
"The only solution is the unthinkable and that is selective default. They will default whatever happens why not choose your default?" he added.
Federal Revenue and Spending: Budget Chart Book
Federal Revenue and Spending: Budget Chart Book
"Just the facts mam, just the facts." "Damn the torpedo full speed ahead."
"Just the facts mam, just the facts." "Damn the torpedo full speed ahead."
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