Corvette Forum : DigitalCorvettes.com Corvette Forums banner

1 - 20 of 41 Posts

·
Registered
Joined
·
19,914 Posts
Discussion Starter #1
In 1983, the British Labor Party under the hard-left Michael Foot issued a 700-page manifesto so radical that one colleague called it “the longest suicide note in history.” House Budget Committee Chairman Paul Ryan has just released a recklessly bold, 73-page, 10-year budget plan. At 37 footnotes, it might be the most annotated suicide note in history.

That depends on whether (a) President Obama counters with a deficit-
reduction plan of equal seriousness, rather than just demagoguing the Ryan plan till next Election Day, (b) there are any Republicans beyond the measured, super-wonky Ryan who can explain and defend a plan of such daunting scope and complexity, and (c) Americans are serious people.

My guesses: No. Not really. And I hope so (we will find out definitively in November 2012).

The conventional line of attack on Ryan’s plan is already taking shape: It cuts poverty programs and “privatizes” Medicare in order to cut taxes for the rich.

Major demagoguery on all three counts.

(1) The reforms of the poverty programs are meant to change an incentive structure that today perversely encourages states to inflate the number of dependents (because the states then get more “free” federal matching money) and also encourages individuals to stay on the dole. The 1996 welfare reform was similarly designed to reverse that entitlement’s powerful incentives to dependency. Ryan’s idea is to extend the same logic of rewarding work to the non-cash parts of the poverty program — from food stamps to public housing.

When you hear this being denounced as throwing the poor in the snow, remember that these same charges were hurled with equal fury in 1996. President Clinton’s own assistant health and human services secretary, Peter Edelman, resigned in protest, predicting that abolishing welfare would throw a million children into poverty. On the contrary. Within five years child poverty had declined by more than 2.5 million — one of the reasons the 1996 welfare reform is considered one of the social policy successes of our time.

(2) Critics are describing Ryan’s Medicare reform as privatization, a deliberately loaded term designed to instantly discredit the idea. Yet the idea is essentially to apply to all of Medicare the system under which Medicare Part D has been such a success: a guaranteed insurance subsidy. Thus instead of paying the health provider directly (fee-for-service), Medicare would give seniors about $15,000 of “premium support,” letting the recipient choose among a menu of approved health insurance plans.

Call this privatization if you like, but then would you call the Part D prescription benefit “privatized”? If so, there’s a lot to be said for it. Part D is both popular and successful. It actually beat its cost projections — a near miraculous exception to just about every health-care program known to man.

Under Ryan’s plan, everyone 55 and over is unaffected. Younger workers get the insurance subsidy starting in 2022. By eventually ending the current fee-for-service system that drives up demand and therefore prices, this reform is far more likely to ensure the survival of Medicare than the current near-insolvent system.

(3) The final charge — cutting taxes for the rich — is the most scurrilous. That would be the same as calling the Ronald Reagan-Bill Bradley 1986 tax reform “cutting taxes for the rich.” In fact, it was designed for revenue neutrality. It cut rates — and for everyone — by eliminating loopholes, including corrupt exemptions and economically counterproductive tax expenditures, to yield what is generally considered by left and right an extraordinarily successful piece of economic legislation.

Ryan’s plan is classic tax reform — which even Obama says the country needs: It broadens the tax base by eliminating loopholes that, in turn, provide the revenue for reducing rates. Tax reform is one of those rare public policies that produce social fairness and economic efficiency at the same time. For both corporate and individual taxes, Ryan’s plan performs the desperately needed task of cleaning out the myriad of accumulated cutouts and loopholes that have choked the tax code since 1986.

Ryan’s overall plan tilts at every windmill imaginable, including corporate welfare and agricultural subsidies. The only thing left out is Social Security. Which proves only that Ryan is not completely suicidal.

But the blueprint is brave and profoundly forward-looking. It seeks nothing less than to adapt the currently unsustainable welfare state to the demographic realities of the 21st century. Will it survive the inevitable barrage of mindless, election-driven, 30-second attack ads (see above)? Alternate question: Does Obama have half of Ryan’s courage?

I think not (on both counts). But let’s hope so.

http://www.washingtonpost.com/opini...it-demagoguery/2011/04/07/AFUfOXxC_story.html
 

·
Registered
Joined
·
379 Posts
The US government with continue to borrow money from china to spend more then they
take in. One day, probably sooner then later, the loans will stop coming.

So what happens to families when they can no longer charge and borrow. They either
claim bankrupcy and dont pay the loans, or they make super large cuts and take many
years to pay off the debt. (like I did when my first wife left me in major debt.)

It will be interesting to see the dems talk to the camera when all programs take major
50% plus cuts. Not these pathetic 38B in cuts.
 

·
Banned
Joined
·
31,366 Posts
Putting It All In Perspective: Bernanke Does More For The Budget In 15 Minutes Than The Government Does In A Year

Now that we are being inundated by reports telling us how the government has saved us and reached an historic $38 billion of cuts, it's time to put the result in perspective. This was 'Winning' only in a way that Charlie Sheen could understand. The government would have shut down if a solution wasn't reached. It's not like this was done randomly - the laws of the country forced them. It took the threat of government shut down (which some people seem to think is a bad thing) to force them to come up with $38 billion of cuts. Even with looming shutdown, they couldn't help themselves from throwing in some riders. Although, even the riders were less odious than the President trying to convince us earlier in the week that not allowing planned budget increases actually counted as budget cuts! They really did try and tell us that by not going implementing planned spending increases, they were actually saving money. Say what? Maybe that logic applies to Saks' shoe sales, but in the real world, that is not a cut, nor is it savings.

Anyways, it seems pretty clear that in spite of potential government shutdown, threat of public backlash, our government could barely get its act together to cut $38 billion. Yet with $14.3 trillion of debt outstanding, an increase of 0.25% would add $36 billion to our deficit! Mr. Bernanke, who claimed on 60 minutes, that he can squash inflation within 15 minutes has relatively few policy tools to do that. Pretty much only raising rates or stopping QE2. Raising rates is the simplest, but if a 0.25% rate increase (minimum the Fed has ever done) adds $36 billion to the deficit, will he, or anyone else have the stomach to deal with the consequences?

Just think how hard it was for the government to reach an agreement on $38 billion. That agreement was only reached to avoid the imminent shutdown that both parties decided they would face negative consequences from the voters for.

Should one man have this much power? It wasn't as much of an issue in the past, but as our debt has grown out of control, it's a real issue now. You can argue that with a steep curve maybe you wouldn't get a 0.25% cost increase across the board if the fed raised short term rates. You can argue that at least a trillion is held by the Fed so it's a wash (but then why does it count in the debt limit in the first place). On the other hand, you could argue that we should have the same rate as the ECB since allegedly our economy is in better shape than Europe. That would be a 1% increase. If you believe that QE2 has held down borrowing costs out the curve, than merely stopping that could add to our cost.

We are at historically low rates, yet the bulk of our debt remains funded relatively short term. So far I haven't seen a single budget proposal that shows a significant decrease in debt outstanding over the next 10 years. Shouldn't we borrow out to maturities that reasonably reflect when we can pay back the debt? By funding so much 5 years and in, we save a meaningful amount of current interest expense, but expose ourselves to rate shocks in the future. ARM's killed homeowners who weren't prepared. Too much short term debt helped kill Greece and is killing Portugal. Yes they have spending problems, but had they locked in low rates for a long time they wouldn't face the same degree of current pressure. If we know we won't be repaying debt for 10 years, we should borrow more out to 10 years. The cost would be shocking. Maybe even prohibitive. But that is what we need! That cost is real. Maybe if we funded all to 10 years, government would become horrified at the cost and really start to cut the budget. At least Ben isn't responsible for this fiasco. That is Treasury. On $10 trillion of marketable treasuries, the average rate is 2.5%. If we pushed that funding towards 10 years, it would jump 1%. Even at 2.5% average cost, it is much less then the 4.6% average cost we had just 5 years ago. That would be a 2% or $280 billion shock to the system!

So, at a time where the government has demonstrated a complete lack of will over $38 billion, we are left in the hands of Ben to determine short term rates, influence the curve, and Timmy to determine what maturity profile that 'best meets our needs'. The actions of either of these two unelected individuals could dwarf the $38 billion as every 1% of increased borrowing costs would cost $143 billion. Since the government could barely deal with $38 billion, how will they deal with increased borrowing costs? Does even congress know just how trivial their cuts look relative to the potential increases in debt cost?

http://www.zerohedge.com/article/pu...s-more-budget-15-minutes-government-does-year
 

·
Banned
Joined
·
108 Posts
First, the Ryan Plan is a Heritage Foundation privitization plan since Reagan packaged now as 'The Road to Prosperity' that the Heritage Foundation has now admitted it as a complete fraud.

Second, let's see, government debt is also known as public debt, national debt and sovereign debt, (not really including federal budget debt)

We have a $14 trillion National Debt / Deficit.

$1 Trillion Dollars equals $1000 Billion Dollars.

Congress just negotiated for $61-$78 Billion Dollar cut just to avert a shutdown, I think that equates to 1/10th of a penny.


For neoconservative plans to work, we need to shut all govt. down to complete oblivion, declare bankruptcy (Trump restructuring) and move the current debts and deficits to those who can bear the burden, the banks we bailed-out.

Then start over with the current condition, unemployment as a function of revenue.

But for now, get ready for the real upcoming Monster govt. shutdown battle, the Debt Ceiling.



hmmmmmmmmm


 

·
Registered
Joined
·
1,075 Posts
I said this in another thread response, but, I feel it merits saying again....................

If, by some miracle, Obama is re-elected in 2012, and this gives credibility to his socialist agenda, I could see that he could be this Republic's last president.

Think about it.

The situation in this nation is grave. Much, much worse than the government want us to know. They cook the books to disguise the double digit inflation we've experienced for the past two years. The Congress, along with support of the communist news networks want to convince us that these "budget cuts" will solve our financial problems.
The few men that stand up and propose plans that might actually save the country are mocked and called extremists.
The borders are being crossed every day with hundreds (thousands) of illegals that wish to infest and destroy our culture. Out tolerance of religion has left the door open to Muslim extremists, disguised as religious moderates, whose mission in life is to kill all Americans. How many secret Islamic terrorist cells are within out borders, waiting for their signal?

Yes, I could go on, naming many, many more issues that are endangering this Republic. However, the one over-bearing, non-disputable fact is this............

The Democratic Party is the party of change for the worse. Every problem this country faces today can be traced back to originate in some policy or program conceived by the Democrats.

If the Republican Party doesn't soon find the courage to stand up to these liberals, and debate every foul lie and twisted spin that is produced by this vile, sick, moronic group of non-Americans,

then the Republic is lost!
 

·
Banned
Joined
·
108 Posts
I said this in another thread response, but, I feel it merits saying again....................

If, by some miracle, Obama is re-elected in 2012, and this gives credibility to his socialist agenda, I could see that he could be this Republic's last president.

Think about it.

The situation in this nation is grave. Much, much worse than the government want us to know. They cook the books to disguise the double digit inflation we've experienced for the past two years. The Congress, along with support of the communist news networks want to convince us that these "budget cuts" will solve our financial problems.
The few men that stand up and propose plans that might actually save the country are mocked and called extremists.
The borders are being crossed every day with hundreds (thousands) of illegals that wish to infest and destroy our culture. Out tolerance of religion has left the door open to Muslim extremists, disguised as religious moderates, whose mission in life is to kill all Americans. How many secret Islamic terrorist cells are within out borders, waiting for their signal?

Yes, I could go on, naming many, many more issues that are endangering this Republic. However, the one over-bearing, non-disputable fact is this............

The Democratic Party is the party of change for the worse. Every problem this country faces today can be traced back to originate in some policy or program conceived by the Democrats.

If the Republican Party doesn't soon find the courage to stand up to these liberals, and debate every foul lie and twisted spin that is produced by this vile, sick, moronic group of non-Americans,

then the Republic is lost!


The problem for republicans today is, they have to answer not only for the place they took the 'Republic' into, but the continued lies, distortions and quite frankly, insanity as they descend into 'transfixation and transcendation' of their own ideology and demogogery. (Known as the Michelle Bachmann trance.)

As an example, Sen. Kyl who lied about Planned Parenthood federal govt. funding of abortions, who admitted to lying about his staff lying to him on the issue.

Why would you lie about something that has nothing to do with the budget and that does nothing but inform the public of just how crazy (wackos) the republicans and tea party is ?
 

·
Banned
Joined
·
31,366 Posts
As an example, Sen. Kyl who lied about Planned Parenthood federal govt. funding of abortions, who admitted to lying about his staff lying to him on the issue.
Planned parenthood does use tax dollars for abortions.

Why would you lie about something that has nothing to do with the budget and that does nothing but inform the public of just how crazy (wackos) the republicans and tea party is ?
Well, if the Tea Party is whacko, then the nazicrats are completely insane...

Know what the difference between the tea party and the democrats are? One pays taxes, the other lives off them.
 

·
Banned
Joined
·
108 Posts
Planned parenthood does use tax dollars for abortions.
Not according to the president of Planned Parenthood.

Well, if the Tea Party is whacko, then the nazicrats are completely insane...

Know what the difference between the tea party and the democrats are? One pays taxes, the other lives off them.
That's nice consolation for the conservatives and tea partiers who are on Medicare/Medicaid and Social Security who I imagine will be voting Obama and Democrat in 2012 now that the Ryan Plan is exposed.

Nice going.
 

·
Banned
Joined
·
31,366 Posts
Not according to the president of Planned Parenthood.
:laughing: Barry also told you your health premiums will go down under his Obamascam.. do you believe everything liars feed you? :huh:

That's nice consolation for the conservatives and tea partiers who are on Medicare/Medicaid and Social Security who I imagine will be voting Obama and Democrat in 2012 now that the Ryan Plan is exposed.

Nice going.
Obama will probably win in 2012.. the reps will run another liberal, probably Romney and lose again, deservedly.
 

·
Banned
Joined
·
108 Posts
:laughing: Barry also told you your health premiums will go down under his Obamascam.. do you believe everything liars feed you? :huh:
You need to face it, abortion as a conservative agenda is a fanatical idealogue and demogogy agenda that has nothing to do with the budget.

I thought it was quite sad to see the congressional conservative women looking like old spinsters bashing on women as they called for shutting down the govt.



Obama will probably win in 2012.. the reps will run another liberal, probably Romney and lose again, deservedly.
The case is rested.

:smack
 

·
Banned
Joined
·
31,366 Posts
You need to face it, abortion as a conservative agenda is a fanatical idealogue and demogogy agenda that has nothing to do with the budget.
Oh, thank you for enlightening me.. :rolleyes:

I don't know what your persuasion is, but if your another nazicrat, get in line... for your gubment meal ticket.

I thought it was quite sad to see the congressional conservative women looking like old spinsters bashing on women as they called for shutting down the govt.
Save your talking points.. and answer some tough questions, like why the nazicrats are deadset on the destruction of the economy..

The case is rested.

:smack
You never had a case...
 

·
Registered
Joined
·
19,914 Posts
Discussion Starter #13
You need to face it, abortion as a conservative agenda is a fanatical idealogue and demogogy agenda that has nothing to do with the budget.

I thought it was quite sad to see the congressional conservative women looking like old spinsters bashing on women as they called for shutting down the govt.
No... that's not correct. This entire agenda, as you have explained it... is 180 degrees from correct. The left is far more animated and extreme in their ideological beliefs surrounding abortion. The left has failed to pass a budget since 2009... and used this as a red herring in an attempt to force a no pass on this budget, also. It was the left that was forcing the shutdown because their favorite and most sacred of beliefs, were being de-funded. You can complain of Republican women looking like spinsters or even make the charge the republicans are attempting to kill women due to their stance... but, we are simply attempting to keep you on the left from using our combined tax payer dollars to kill little black babies... all over DC.

Fund Planned Parenthood, yourselves. If you can come up with nearly a trillion dollars to buy the presidency... a couple of hundred million should be easy to find, to fund your favorite pastimes.
 

·
Banned
Joined
·
108 Posts
No... that's not right. This entire agenda as you have explained it... is 180 degrees from correct. The left is far more animated and extreme in their ideological beliefs surrounding abortion. The left has failed to pass a budget since 2009... and used this as a red herring in an attempt to force a no pass on this budget, also. You can complain of Republican women looking like spinsters or even make the charge the republicans are attempting to kill women due to their stance... but, we are simply attempting to keep you on the left, from using tax payer dollars to kill little black babies all around DC.
At this juncture, explain to me what the Republican Party is now and in terms of the Tea Party who wishes to eradicate the Republican Party as both parties flounder about going up against the Democratic Party.

You may rely on such actions as 2 years of GOP filibuster finally culminating in adding a quarter of a trillion dollars to the deficits via extending the Bush Tax Cuts by holding the unemployed hostage to get unemployment benfits extended as the Obama Tax Compromise.

Then we can talk about how the Ryan Plan, about the 5th one to come from the GOP or tea party or whatever they are now creates jobs as the new Cut & Grow economy.

You people have more demogogical slogans than a Palin Facebook/Twitter.


:devil:
 

·
Registered
Joined
·
19,914 Posts
Discussion Starter #15
Filibuster ???

I don't know if you were paying attention the last couple of years, but, we could not filibuster any single bill, proposed. We could not even propose them... the left would not allow for them to come to the floor for a vote. The left had absolute power. -And in having absolute power... you have absolute blame.

You people have more demogogical slogans than a Palin Facebook/Twitter.
Simply look back at this thread and tell me "who... is king of Slogans" ?
 

·
Banned
Joined
·
108 Posts
Filibuster ???

I don't know if you were paying attention the last couple of years, but, we could not filibuster any single bill proposed. The left had absolute power. -And in having absolute power... you have absolute blame.
Then you know nothing of the 60 vote supermajority required for Bill passage.
 

·
Registered
Joined
·
19,914 Posts
Discussion Starter #17
Fine... then you know nothing of Filibustering. Scott Brown ring any bells ? Mr. 41 ? You had 60 until his election... did you not ?

Case still closed ? -Or do you plan to move to "yet another" subject... after having your many, many twists and turns withing the truth... doused.
 

·
Banned
Joined
·
108 Posts
Fine... then you know nothing of Filibustering. Scott Brown ring any bells ? Mr. 41 ? You had 60 until his election... did you not ?

Case still closed ? -Or do you plan to move to "yet another" subject... after having your many, many twists and turns withing the truth... doused.
I'm still on the same subject ... in order for the Ryan Plan to become law and an institution, you need to win the Senate & Whitehouse so to move the country to the place as the GOP or Tea Party or whatever it is now has been dictating as the Road to Prosperity.

This requires selling the Plan to Americans, so to garner the marjority 2012 vote, as so ephinal, that for 200 years now it has escaped conventional wisdom.

Attacking Women, infants and children appears to be the idealogue for now before you eradicate Medicare/Medicaid and replace it with vouchers and give the Social Security lockbox to Wall Street.

Nice.
 

·
Registered
Joined
·
19,914 Posts
Discussion Starter #19
When all else has failed and your charges have been refuted... create a victim... where there was no victim to begin with.


By the way... what does vitamin E (ephinal/ephynal) have to do with discussion ?
 

·
Banned
Joined
·
108 Posts
When all else has failed and your charges have been refuted... create a victim... where there was no victim to begin with.


By the way... what does vitamin E (ephinal/ephynal) have to do with discussion ?
Epiphany, or in Ryans Plan, fantasmal, he should run for Prez against Trump.

:devil:
 
1 - 20 of 41 Posts
Top