Article

2011-04-04 Home Front: Politix

US braces for record federal budget cuts

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2011-04-04 00:00|| || Front Page|| [11124 views ] Top

#1 The town drunk announced that hew as taking a big step toward going sober - instead of drinking his usual twenty 'fifths' of whiskey this week, he would make a radical change - this week, he would leave half of a shot glass of whiskey behind in the twentieth bottle.

And - the village idiot applauded .....

Posted by Lone Ranger 2011-04-04 00:37|| 2011-04-04 00:37|| Front Page Top

#2 Wow. $61 billion.

Aren't there still a thousand billions in a trillion?

Posted by Fred 2011-04-04 08:37|| 2011-04-04 08:37|| Front Page Top

#3 yes, but think about when the last time was that actual cuts, not "cuts in increases", has been proposed and acted on. It's happened already, and the sky hasn't fallen. The Donks are losing the perception battle.

Posted by Frank G 2011-04-04 08:50|| 2011-04-04 08:50|| Front Page Top

#4 US braces for record federal budget cuts

Well, when dealing with a record and unsustainable budget and debt, any cuts will also be a record even it it fails to make any substantial dent in the aforementioned.

Posted by Procopius2k 2011-04-04 08:51|| 2011-04-04 08:51|| Front Page Top

#5 Proposed Budgets
2010: $3552 billion
2011: $3818 billion (proj. deficit $1650B)
-------------------
Delta: +266 billion (+7.5%)
Where's the cut in that?

Posted by Zebulon Thranter9685 2011-04-04 10:29|| 2011-04-04 10:29|| Front Page Top

#6 We've got two problems: the actual deficit, which is now so large Einstein couldn't get his head around it; and the perception, here and abroad, that buying Treasuries is a mug's game because Charmin is much softer and more valuable.

As woefully inadequate as this action is, it's the first indication (other than the emergence of the Tea Party movement itself) that we agree we're an alcoholic. So it may help on the perception front. Which is kind of important, because if we can't roll over the vast amount of debt we need to roll over, things get really ugly fast.

Posted by Matt 2011-04-04 11:31|| 2011-04-04 11:31|| Front Page Top

#7 U.S. braces for hangover after Zero pays for drunken binge on Credit Card.

Posted by Bright Pebbles 2011-04-04 13:17|| 2011-04-04 13:17|| Front Page Top

#8 it's the first indication (other than the emergence of the Tea Party movement itself) that we agree we're an alcoholic.
I don't agree. The 'Federal budget cuts' are a total joke. Just the fact that the MSM calls the proposals 'cuts' indicates the lack of seriousness in the approach by the federals. The real first indications are happening in the state capitols of Wisconsin, Indiana & Ohio where the legislatures are restricting public unions and preparing to slash state expenditures. Even the MSM is starting to shift in its coverage of unfunded state & local public pension obligations.
If the US some day can't roll over its public debt, operations of the government & the health of the the national economy will fall off a cliff. It'll be beyond 'ugly.' I keep thinking about cashing in my 401 savings to keep the feds from confiscating them.

Posted by Anguper Hupomosing9418 2011-04-04 15:19|| 2011-04-04 15:19|| Front Page Top

#9 > .' I keep thinking about cashing in my 401 savings to keep the feds

I think you missed the boat on that one... What do you think the TARP and all the POMOs are?

Posted by Bright Pebbles 2011-04-04 17:57|| 2011-04-04 17:57|| Front Page Top

#10 What do you think the TARP and all the POMOs are? Whatever they are, they're not deductions or impairments of my ability to draw on them, a la Argentina.

Posted by Anguper Hupomosing9418 2011-04-04 18:53|| 2011-04-04 18:53|| Front Page Top

#11 TARP was to bail out Euro banks who'd invested heavily in unsecured American ~~swampland~~ derivatives because they saw no ROI in Europe. Those loses panicked American financial houses to spook their sock puppets in Washington to mortgage the American taxpayer to cover the loses.

Posted by Procopius2k 2011-04-04 20:54|| 2011-04-04 20:54|| Front Page Top

00:02 JosephMendiola
23:55 retired LEO
23:51 JosephMendiola
23:49 remoteman
23:47 SteveS
23:37 JosephMendiola
23:30 JosephMendiola
23:03 Clomoth de Medici9631
22:50 Clomoth de Medici9631
22:46 CincinnatusChili
22:31 Fi
22:24 CrazyFool
22:20 trailing wife
22:13 trailing wife
22:11 trailing wife
22:05 trailing wife
21:48 trailing wife
21:45 OldSpook
21:40 AzCat
21:33 AzCat
21:30 trailing wife
21:01 Cluns Unavirong6767
20:57 JosephMendiola
20:54 Procopius2k