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Abu-Zaid al Kuwaiti Drone-zapped During Breakfast
Today's Headlines
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Page 6: Politix
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Page 1: WoT Operations
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Page 2: WoT Background
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Page 4: Opinion
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Federal Government Borrowed 46 Cents Of Every Dollar It Has Spent
[Washington Times] The federal government borrowed 46 cents of every dollar it has spent so far in fiscal year 2013, which began Oct. 1, according to the latest data the Congressional Budget Office released Friday.

The government notched a $172 billion deficit in November, and is already nearly $300 billion in the hole through the first two months of fiscal year 2013, underscoring just how deep the government's budget problems are as politicians try to negotiate a year-end deal to avoid a budgetary "fiscal cliff."

Higher spending on mandatory items such as Social Security, Medicare and interest on the debt led the way in boosting spending compared with the previous year, which also highlights the trouble spots Congress and President B.O. are struggling to grapple with.

All sides agreed to discretionary spending cuts and automatic spending cuts last year, but have been unable to agree on ways to control entitlement costs, which are the long-term drivers of deficits and debt.

Fiscal year 2013 began on Oct. 1 and so far the government has spent $638 billion and taken in just $346 billion in revenue.
Posted by: Fred || 12/08/2012 00:00 || Comments || Link || E-Mail|| [6486 views] Top|| File under:

#1  It should be relatively easy for a government teetering on bankruptcy to completely default to a "needs based" entitlement strategy. "Needs" of course, as defined by the government and the IRS. It's really only fair, and an obvious extension of what has already been going on discreetly for decades. I doubt the chronically unemployed living in urban America will object to the imposed emptying of my 401k and stock portfolio, prior to my receiving Medicare or Social Security.
Posted by: Besoeker || 12/08/2012 0:48 Comments || Top||

#2  No, Besoeker, they will nationalize our 401(k)s, IRAs & pensions FIRST, then 'give' us SS & Medicare.
Posted by: Glenmore || 12/08/2012 6:02 Comments || Top||

#3  Obama and his minions sure have a misguided notion of what paying one's "fair share" means. Maybe we should be talking about large scale theft of personal property and belongings instead of the phrase "paying one's fair share."
Posted by: JohnQC || 12/08/2012 10:24 Comments || Top||

#4  It's really for your own Glenmore. Who better to invest your money than a treasury headed by a tax cheat, a DOJ headed by a racist and gun-runner, and a President who firmly believes he really is the chosen one?

And you're only be given SS if you really need it and medicare will be replaced by Obamacare (and you get that only if the death panels think you are worthy).
Posted by: CrazyFool || 12/08/2012 11:14 Comments || Top||

#5  Anyone here have change for a trillion dollar bill? The soda dispenser won't make change.
Posted by: Perfesser || 12/08/2012 11:18 Comments || Top||

#6  Glenmore ... my theory is that there are certain lines that the Gov't cannot cross in this unfloding financial breakdown. These include: (1) Nationalizing peoples' 401K's and retirement plans, (2) Seizing specific assets like land, hard cash, and gold. If the difference between private property and public property gets eroded too far - we will see a major breakdown in our society.
Posted by: Raider || 12/08/2012 11:58 Comments || Top||

#7  I certainly hope you are correct Raider, but most of the available evidence and trend analysis does not appear to support your theory.

Gunshot injuries which do not strike a vital organ seldom result in immediate death. Death comes from blood loss and hypovolemic traumatic shock. We're simply being bled to death.
Posted by: Besoeker || 12/08/2012 12:36 Comments || Top||

#8  Arrow trauma vs high-powered bullet trauma.

Excellent analogy, Besoeker.
Posted by: no mo uro || 12/08/2012 13:33 Comments || Top||

#9  there are certain lines that the Gov't cannot cross in this unfloding financial breakdown. These include: (1) Nationalizing peoples' 401K's and retirement plans

Of course not. Printing money is so much easier---of course, the result...
Posted by: g(r)omgoru || 12/08/2012 14:24 Comments || Top||

#10  This was written in '09 and seems to be spot on. Then Dems controlled Congress and their prognosis for a tax rate hike seemed inevitable. However as the Dems lost Congress a spanner was thrown in the works. So they need Boehner to cave for their schemes to work.
"If the Obama administration holds to the recent practice of U.S. politicians of keeping near the lower margin, the expected national debt burden for 2011 of 2.9 indicates that the top marginal income tax rate will increase to roughly 44-45%. Given the President's political party's current large majority in the U.S. Congress, it is possible that tax rates could go much higher. The tax rate corresponding to the central curve for the national debt burden expected in 2011 is 67-68%."
Posted by: tipper || 12/08/2012 20:07 Comments || Top||

#11  "Given the President's political party's current large majority in the U.S. Congress"


Somebody's very bad at plain ol' arithmetic.
Posted by: Barbara || 12/08/2012 20:27 Comments || Top||

#12  Yokay, I'll bite, I thought it was $0.52 per dollar???

Posted by: JosephMendiola || 12/08/2012 21:00 Comments || Top||

Home Front: Politix
Despite Tax Increase, California State Revenues in Freefall
Caliphornia State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget.

Democrats thought they could hammer "the rich" by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now appears that high income earners have already "voted with their feet" by moving themselves and their businesses out of state, resulting in over $1 billion shortfall in corporate and income taxes last month and the beginning of a new financial crisis.

Passage of Proposition 30 set off euphoria and expectations of higher spending for public employees. The California Teachers' Association (CTA) trumpeted: "California students and working families won a clear victory today as voters clearly demonstrated their willingness to invest in our public schools and colleges and also rejected a deceptive ballot measure aimed at silencing educators, other workers and their unions."
Posted by: tipper || 12/08/2012 12:06 || Comments || Link || E-Mail|| [6491 views] Top|| File under:

#1  Pyrrhic victory -
a victory or goal achieved at too great a cost.

Greek Pyrrikós; after a remark attributed by Plutarch to Pyrrhus, who declared, after a costly victory over the Romans, that another similar victory would ruin him.
Posted by: Procopius2k || 12/08/2012 12:38 Comments || Top||

#2  Certainly Governor Romney no one could have predicted such an unfortunate outcome. [sarc off]
Posted by: Besoeker || 12/08/2012 12:43 Comments || Top||

#3  The California Teachers' Association (CTA) trumpeted: "California students and working families won a clear victory today

A victory over education and a future as an employable adult.
Posted by: Frozen Al || 12/08/2012 12:56 Comments || Top||

#4  Doesn't these teachers' unions have some math teachers as members?
Posted by: g(r)omgoru || 12/08/2012 14:27 Comments || Top||

#5  Despite?

Income taxes are like fining people for driving fast. Only a leftist moron would be surprised that people drove less and drove slower.
Posted by: Bright Pebbles || 12/08/2012 14:53 Comments || Top||

#6  g(r)omgoru Hello!, We have an economics professor I won't say where who has the worst credit rating a person could have. Maxed out with his credit card to purchase a used vehicle but was declined. Another professor has a hybrid Honda just a couple years old and the motor is shot. They may be intelligent but extremely poor keeping basic maintenance done timely.
Posted by: Dale || 12/08/2012 15:05 Comments || Top||

#7  Oh gee wow.... what a shock.
Posted by: Spolutle Jones9403 || 12/08/2012 15:19 Comments || Top||

#8  Unexpectantly!
Posted by: CrazyFool || 12/08/2012 16:47 Comments || Top||

#9  I'm trying to find my picoviolin - honest, I am. Maybe if I vacuum the cat....
Posted by: Barbara || 12/08/2012 17:40 Comments || Top||

#10  Obviously a miscalculation in the rates, give 'em an upwards nudge of 4 or 5 percentum and off we go into paradise.
Posted by: Shipman || 12/08/2012 18:37 Comments || Top||

#11  I voted against it and it sucks. Guess I'll retire and move somewhere else. Been here my whole life. Fuckers
Posted by: Frank G || 12/08/2012 19:24 Comments || Top||

#12  Frank G -
Just remember how hard it was for many of our ancestors to leave the 'old country', where generations of them had grown up, to get away from the authoritarian looting class.

..and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable..
Posted by: Procopius2k || 12/08/2012 21:08 Comments || Top||

#13  Unfortunately California is out front in our financial meltdown. They are demonstrating what will happen next month after our loving government raises taxes on the wealthy. They will move their money and invest outside the US at a minimum or leave....
Posted by: 49 Pan || 12/08/2012 21:28 Comments || Top||

#14  Funny, the LA area papers are ful of "happy talk" about how good things are going.
Posted by: Pappy || 12/08/2012 23:37 Comments || Top||

Inhofe: Obama funneling billions to UN for climate-change redistribution
Posted by: tipper || 12/08/2012 19:26 || Comments || Link || E-Mail|| [6503 views] Top|| File under:

#1  So Obama is giving Chinese money to the UN. Well at some point if we default as a nation the Chinese will get pennies on the dollars back for their debt obligations so who is the sucker really?

Yeah I still think this sucks if true. More buy-offs and the UN doesn't even vote in US elections.
Posted by: rjschwarz || 12/08/2012 20:39 Comments || Top||

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Two weeks of WOT
Sat 2012-12-08
  Abu-Zaid al Kuwaiti Drone-zapped During Breakfast
Fri 2012-12-07
  6 dead, 450 injured in clashes at Egypt's presidential palace
Thu 2012-12-06
  Two Dead as Egypt Islamists Overrun Opposition Tents
Wed 2012-12-05
  Hundreds of thousands besiege Egypt's presidential palace to protest draft constitution
Tue 2012-12-04
  Syria FM Spokesman 'Defects' from Regime, Leaves Syria
Mon 2012-12-03
  Car bomb in Syria's Homs kills 15: State media
Sun 2012-12-02
  Mullah Nazir orders out Mehsud Taliban fighters
Sat 2012-12-01
  Egypt assembly approves new draft constitution
Fri 2012-11-30
  Damascus fighting cuts off airport, Emirates suspends flights
Thu 2012-11-29
  Bomb injures top Talibunny Mullah Nazir
Wed 2012-11-28
  Packed Tahrir Square defiant as deadlock prevails
Tue 2012-11-27
  30 Inmates Escape as Gunmen Attack Nigerian Police Unit
Mon 2012-11-26
  Syrian Rebels Claim Capture of Helicopter Base Near Damascus
Sun 2012-11-25
  Thousands of anti-Morsi protesters spend the night in Egypt's Tahrir square
Sat 2012-11-24
  7 People Killed in Pakistan Shiite Procession

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