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2013-10-17 Government
Kicking the Can Down the Road Again - Highlights
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Posted by Bobby 2013-10-17 06:07|| E-Mail|| Front Page|| [6485 views ]  Top

#1 Jerry Pournelle commented a couple of days ago:
"I still think that the only way to start reducing the deficit is to stop spending more money than you’re taking in, meaning that while we must fully service the debt, we can sure start reducing government expenses by 1% a year. We can also eliminate bunny inspectors and other federal tasks that may or may not be worth doing, but are almost certainly not worth borrowing money to do. Of course none of this will happen. The nation has become accustomed to obedience to the ruling class and there is a large political interest group who wants to continue to increase entitlement spending – not only those who get the entitlements, but those who make their living collecting and paying them. We seem to be approaching a point of no return.

Of course if something can’t go on forever, it will stop."
Posted by Anguper Hupomosing9418 2013-10-17 07:32||   2013-10-17 07:32|| Front Page Top

#2 There is not a single monolithic "political interest group who wants to continue to increase entitlement spending", but a host of them. Getting rid of them is like playing Whack-a-Mole.
Posted by Anguper Hupomosing9418 2013-10-17 08:30||   2013-10-17 08:30|| Front Page Top

#3 Apparently there is no stock market 'good news' rally. If there is, it's been delayed. Perhaps none of what has taken place over the past few weeks, or the outcome, was any surprise to Wall Street.
Posted by Besoeker 2013-10-17 10:41||   2013-10-17 10:41|| Front Page Top

#4 Amazing how a trend that started in Californicate and has been roundly criticized in every newspaper on this and several nearby planets suddenly becomes good news to the lurches and wobble heads in the press.

Kicking a budgetary problem with cash flow, i.e., taking in less money than you spend with few prospects of increasing the revenue stream without sending the cash cow packing for the Caymans, does not lend itself to confidence.

The confidence meter is a nice touch.

Since Wall Street is the only place in the US with any economic sense, albeit extremely unethical and greedy, I don't see how anyone that knows two whits about economics, this side of Paul the Obama Shill Krugman, would think this is good news.

Machiavelli said that avoiding discord only postpones the conflict to the disadvantage of others.

He also said the best way to gauge the intelligence of a leader is to assess those that surround him...OOPS
Posted by Bill Clinton 2013-10-17 11:42||   2013-10-17 11:42|| Front Page Top

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