Aides: 'Super Committee' likely to announce failure to reach debt deal - CNN.com How ridiculous they can't even agree to cut 1.2T? We are all fucked!
From what I understood, they were attempting to agree on $1.2 Trillion on future spending decreases over the next 10 years.. which makes it 10000x more embarrassing. If i'm wrong someone please correct me..
No I think you are right. What's worse is democrats think cutting this amount over ten years is some sort of big deal. Who taught dems math? Oh yeah the government!
Cutting 1.2 trillion from the CBO baseline budget. Essentially the standard bump in funding each fiscal year, aka the cuts are a joke.
Im sure the democrats are okay with cuts, just not all in education and planned parenthood and pretty much the things keeping underprivileged communities afloat, aka what republicans want to cut aka because the underprivileged communities are consistently democratic. it's probably all about getting votes
Reps just want to cut anything before cutting the war. Dems certainly don't want to cut the money they are bribing the poor with. Meanwhile, both of these areas need cuts.
This "super committee" just shows that our 2-party system is a joke. 3 months later and nothing but hanging their heads in shame, well because let's face it, they really tried this time guys. Probable Solution: Raise the debt ceiling again to prevent default, and push the problem down the road another 6 months.
^^^This. Unfortunately the options we possess are very limited now. We propped up the banks at the expense of the dollar and now we are going to pay the price with a much bigger crash in the future. No one wants it on "their" watch and no one wants to cut spending to deal with it. This do-nothing congress irritates me a lot but then again, even if they were to pass budget proposals that cut spending we all know Obama would just veto that sh!t.
Oh the dems are beating the war drum too...apparently our aggressive militarism has bipartisan support to not cut a penny. If it didn't, I'd imagine expenditures would have decreased from 2007-2011, not increase. I'm on the "we're fucked" bandwagon.
Yeah I didn't understand the last debt limit increase. People were saying we'd "default" by not raising it but in fact we are defaulting by raising it. We told the world - lend us more money or we WILL default. Now, think about that for a minute...does that make sense? I mean honestly. Loan me MORE money or we can't pay you what we already owe... And then we just print out of thin air and utilize the federal reserve when no one lends us the money. The federal reserve is leveraged more than anyone on the planet and inflation is on its way up. I'm thinking they honestly believe they can control the inflation rate to try and cut the debts owed by debasing our currency. But, watch out for hyperinflation....the USD is worthless.