You got that right...the dolts on the right here in NC haven't created a single job (which they ran on) but have managed to discriminate against gays and make us near dead last in education again...20 years of progress wiped out by the regressive right

I consider myself a "center right" Republican and even I can see that it will take a mixture of spending cuts and raising taxes (in some form) to pull us out of the impending doom that awaits this country. The partisan bickering is out of control. We need someone who is a bridge builder and not who is bought and sold with special intrest money. At this point I don't care if you have an R or a D after your name. . . .please for the love just get something done that is beneficial for the entire country and not your own vain attempt at holding onto power!!!

YAY ! Supercommittee ! (sarcasm)

says it all.

they care about nothing but special interst votes.

i hate this two party system and everything it stands for. nothing but bickering.

can't they (super committee) realize the answer in these tough times are spending CUTS!. Not taxing more. Taxing takes more money out of the economy, budget cuts puts more into system. All this is basic economics 101. Think about your home budget. Your work hours gets cut, you have less money coming in, HBO and SHOWTIME need to be cancelled, cell phone plan reduced chicken instead of filets. Do you like to do these things, NO, but YOU MUST so YOU DO. And not only the middle class, working stiffs get cut either >> all neeed to pay the price including the poor that have better cell plans than me, and the well to do that drive Lexus's versus my Hyundai

Yes, when times are tough you cut back, but you also go out and get a second job. It's clear Republicans are going to stick with their "starving the beast" policies that got us here in the first place.

There is no compromising with the Republicans. They have no desire to affect the economy in a positive way until after the elections.

At some point the politicians must realize borrowing 40 cents on every dollar you spend is going to cause the whole system to crash. Somebody in DC needs to step up and be honest with the voters, and start building bridges across party lines. Right now the leaders in both parties are failing badly.

Eric,

I'm not a fan of the Republicans, but the Democrats are just as bad. Both parties keep putting forth proposals that intentionally target the sacred cows of the other party. Neither party is really trying to solve the deficit issue - they are just trying to buy votes.

Are you aware that the CBO baseline budget projection is that the deficit will be reduced from $1.48 trillion today to $533 billion by 2014?

http://www.cbo.gov/ftpdocs/120xx/doc12039/SummaryforWeb.pdf

The baseline budget numbers are based on legislation that is already in place. If we simply sent Congress home - so they could not interfere - the deficit will be reduced by 64% automatically. The deficit is already slated to be reduced by $947 billion over the next 2 years.

The summer's fantasy crisis about the debt limit and now the fake SuperCommittee is just soap opera acting to avoid the deficit reductions that are already set to take place.

The Republicans want to maintain deficit spending as much (or more) than the Democrats do. The Republicans are not any more fiscally responsible than the Democrats.

Nerm,

Don't these numbers assume the Bush/Obama tax cuts are allowed to expire for everyone? Personally, I think they should expire, but I really don't see that happening. If we only expire the rates for the upper 1% it will have some impact, but my understanding is, the bulk of the impact is on the 99%.

(and I agree that neither party is really concerned about the deficit...there are members in both parties that care, but they are a minority - and none of them are in leadership positions)

Ron Paul 2012. Third party candidate in the making because the mainstream media refuses to acknowledge his consistent performance in the polls.

Come on, people. Make this happen.

Congress must continue to examine, Gay rights, abortion, prayer in schools these are the important matters that take up Congress

Which brings up the religious faction that believes that all the small problems are punishment for not addressing (in their view) the important problems above. It's time to take back the Republican party from the Religious Wrong.

even if ron paul were elected, congress would never enact any of his policies.

@Ron-1861300 -- All the mainstream political rants are about how to achieve a balanced budget. The arguments to 'cut spending' OR 'increase taxes' have all been justified because either or both will reduce the deficit.

The S&P downgrade was about the 'political bickering' that interfered with the government's ability to manage its debt and deficit. Moody has threatened a downgrade if the government does not work to lower the deficit.

The long term result of a credit downgrade by S&P and Moody will be to raise borrowing costs - higher mortgage costs in particular. The bulk of the 99% are going to be affected anyway - either with high taxes or higher borrowing cost. The financial sector will ALWAYS get its piece of the pie. Let the tax cuts expire OR increase the cost of borrowing - the 99% are going to pay more anyway.

Are you are suggesting that the 'budget deficit - cut spending - raise taxes' debate is simply a smoke screen to allow the political parties to enact their version of social engineering?

Are you suggesting is that the 'fiscal responsibility' politics is simply a lie to hide a larger political agenda?

@TampaBay: So, why stop with Ron as President? With Congress having an almost statistical zero approval rating, we could replace about half of those useless bastards in 2012, too. Plus, I don't think Ron has served all those years in the U.S. House without making at least a few "friends."

There is no mention of Obama's new approach to China and the Pacific Rim. If China suddenly desides to call in its trillion dollar debt we have with them, we will al be crawling around on our knees. You had better double up on the turkey dressing. It maybe your last.

@Andy Ritch -- Do not be overly concerned about foreign owned debt. If there is a call on the debt - the US will just print money and pay it off. That would devastate the Chinese economy, too, since the yuan is tied to the the dollar. That would probably also further collapse the Japanese and European economies.

Any foreign government making a call on their US debt would trigger a domino ride to the bottom for the entire global economy. The only real losers in that scenario would be the financial markets and the banks.

The financial players will fight any attempt by foreign countries to cash out their US debt.

What if, in their wisdom, they decided they did not want the yuan tied to the dollar? As I recall, the dollar became the world's most favored currency because we were strong financially. The seesaw could swing their way and the yuan become the currency of the world. What then?

Eric said:

Yes, when times are tough you cut back, but you also go out and get a second job.

Not necessarily. When you have a govt. whose spending is SOOOOO out of control, you stop the out of control spending first. THEN you see if you need a second job. This committee can't even make a decision to stop spending, so they are not to the point of looking for that second job. (This goes to show just how brainwashed these legislators are. The vote is more important than doing what's right. We cannot sustain what Washington has been doing.

Electing RON PAUL is a very strong start in the right dirrection.... Electing new congress can happen as well for those who love our country.

@Andy Ritch -- If China releases the dollar - they lose their export advantage. The growth in the Chinese economy has been based on exports - not internal consumption. Allowing the yuan to float would increase the cost of Chinese manufactured goods.

Floating the yuan could make manufacturing in the US more competitive AND might increase US exports to China. However, that would begin bringing jobs back to the US. If there are more jobs in the US - that would destroy the politics of defeatism and kill the political social engineering that is being attempted.

Floating the yuan would destroy conservative politics - that is why conservatives love China. That is why conservatives opposed the attempt to make it easier to identify currency manipulation and raise import duties on Chinese goods.

Love your comments, Saxon! Yes, Congress needs to waste their time on nonsense and let the country go under. I say, fire Congress in its entirety, take away all their nice perks and cushions (health care etc) and send those useless morons packing!

It is time, America, to fire Congress and take our country back. As it is, we are just the toys of these idiots in Congress that want to play their stupid games. Fire Congress!!!

Nerm

You make good arguments. It just seems to me that the almighty dollar is already floating and isn't worth much when you float it against our enormous debt.

First Republicans told us that tax cuts would bring the jobs back. It didn't work !

Now, they are saying, more spending cuts will bring jobs back. It's stalling the economy.

Next, they are going to say that deregulating will bring jobs back. We already know that isn't going to work.

Let the automatic cuts take effect, and let the Bush tax cuts expire. We reduce the deficit by 6 trillion that way.

Eric....doesnt the truth mean anything to you??? The last tax cuts were almost ten yrs ago and I dont hear anyone advocating more tax cuts...Do you ever consider that there is a point of no return with spending and debt??? Is the problem in Greece and numerous other countries not enough debt???

@Andy Ritch -- The dollar has been holding its own, pretty well. The 'cheap dollar' is a fallacy promoted by the politics of defeatism. The dollar is strong which is why the dollar is considered a reserve currency. And why foreign countries use US debt as part of their reserve. China, Japan, and the rest own our debt as a reserve to maintain the value of their own currency. Instead of a 'gold reserve' - the global economy is based on a 'dollar reserve'.

Our current economy is based on competition for employers. Inflation in our current economy is driven by profit taking through speculation, productivity increases, and investor activity. The current economy favors investors. That is why it is more difficult to start new businesses and sustain small businesses.

Creating conditions that increase jobs in the US would flip the economy to competition for employees. Inflation would then be driven by wage increases and consumer supply/demand factors. Such a change would favor workers and increase the availability of discretionary money for spending. That would favor the creation of small businesses.

The conservative driven politics of defeatism is political social engineering to allow a small segment of the economy to prosper. New wealth created in the economy is being redistributed to that favored segment of the economy. The 'fiscal conservatism' and 'no tax' pledges are simply to allow that segment of the economy to retain the inflation they have created. The politics of defeatism is specifically designed to maintain that crony economy. The US economy is not operating by the principles of capitalism. The present day conservatism is anti-capitalism.

Eric,

You are so disingenuous. There have been no new tax cuts in about 10 years ++. SPENDING has increased about 30% during the current administration, but please don't let reality bite you in the butt !!

So, is your stance to let things continue as they are? it seems to be futile to change such an engrained system. I am a capitalist. I'd like the system to remain such.

NERM. are u running for president?

@Andy Ritch -- That is the entire point. The deficits will be reduced by 64% - $947 billion by 2014 - if Congress does not interfere. Our current deficit of $1.48 trillion is already set to reduce to $533 billion in 2014 - if Congress does not interfere. That is the CBO baseline projection which is based on current legislation.

http://www.cbo.gov/ftpdocs/120xx/doc12039/SummaryforWeb.pdf

Barring Congress from doing anything will lower the deficit more than all the soap opera acting by either party has offered.

Deficit reduction is already on auto-pilot. LET IT RUN ...

Amen, Brother Nerm. And I am with Greenebean, get yourself into the "ring"

Andy

Did not our President, in his "infinite wisdom", tell us about a year ago that NOW (while the economy is so weak) is "not the time" to be raising taxes ?

Kevin: WE can't send them all packing. When was the last time you got to vote for someone you really believed in instead of the lesser to two evils? Our primary process gives us rubbish to choose from, just the extremes from both sides. Only term limits will open up the field enough for real change.

Yes. Term limits and a Constitutional Amendment getting corporate money out of politics.

Spending cuts stall the economy....plain and simple.

Balance the cuts with more revenues.

Spending cuts today would hurt the economy, but that doesn't mean we can't pass some laws to ensure spending increases are reduced once the economy hits certain targets.

Jack, why just corporate money? How about all money including corporations, unions and special interest groups?

So Eric, I take that you disagree with Obama. He did say that last year !

Was he lying then or is he lying now ? Obama contradicting Obama is so entertaining.

Weeeeee. Are we having fun on this ride yet... Ron Paul 2012... lets pick a president who wants solid banking reform. For those who think a president can do nothing, I ask why would the banks have lined up over the last 3 years to give Obama so many millions every single month till they got the banking reform bill they wanted?

Jim, Obama was trying to get a compromise. He was also talking about raising taxes on everyone. That isn't the case now. We are looking at raising taxes (which have never been lower) on those making a million dollars or more and who in general don't pay those taxes due to loopholes.

Republicans want to keep revenues low to perpetuate the financial crisis and have an excuse to cut entitlements. They won't say that, but that is what they want.

Please give definite and SPECIFIC examples of "loopholes" Eric !

Glad to hear you admit that Obama lied last year .... too bad you didn't have the balls to just come out and admit it instead of playing "ring around the rosey" as you attempted to justify his deception.

The stock market is taking yet another dive and you want to raise taxes to keep up with the 30% increase in spending under Obama !

One party believes in "trickle down" economics, and has held to their "starving the beast" policies which got us into this mess.

The other party, wants to trim the debt thoughtfully and in a way that doesn't hurt those hardest hit by the financial crisis.

its unclear how serious the republicans are about "serious budget trimming" based on all their comments about defense. They are "serious" about cutting the dems pet areas whilst trying hard to ignore their own.

I don't think either party is serious about trimming the budget. There are a few politicians in both parties that want to do this, but they are in a small minority.

If a party was serious, they would start with proposals that didn't target the other parties core values - then move onto more controversial issues after establishing some rapport.

@ Eric

Thanks for the good laugh. Tax and spend democrats just want to kick the can down the road past the 2012 elections, thats all. Contine on much of the same and not solve our crisis.

Funny those democrats touting cuts as cuts to future already schedule increases as "cuts"

what a joke

With Obama, we ALL will get "trickle up" poverty if the stock market goes to hell, and the value of our retirement plans with it !

How much has the U.S. lost in total from these FAILED "green initiatives" ?

@Brendan, its laughable selling budget cuts as you hand tax incentives to those making a million or more a year.

What is even more laughable, Eric, is raising taxes so you can throw money at companies like Solyndra who received a "going-concern" letter from their independent CPA's !!

You might as well tinkle into a good stiff breeze coming at you !!

I agree - no incumbents. And when they knock on my door they will not like what happnes next.

You better ask the next GOP candidate for Congress if he will sign the Norquist oath not to raise taxes. Did you know that EVERY GOP congressman has voluntarily made himself hostage to a man I never heard of until 60 Minutes on Sunday. One who we didn't elect holds the key to balancing the budget. What kind of strangness is that? Not that I want to see my tax bill increase - but we have to bite the bullet and go back to at to at least the tax level before President Bush cut taxes and started two wars.

Instead of voting out all incumbents, try voting for people that endorse compromise.

Vote out all those against compromise in 2012 !

Eric - No. There has to be a purge. You are on a slippery slope my friend. When there are lay-offs do good people go? You bet. Well so sorry - years of abuse by the United States Government can only be stopped with a purge heard around the world. I'm afraid it's too that point.

They will be fine. Not like when KFC cans 10,000.

Do you believe that "a purge" will lead to new politicians not so tied to ideology that they will compromise?

Eric,

"Compromise" over basic economic principles (spending way more than we take in) is how we got the U.S. $15 trillion in debt .... and rising !

Government growth is like a growing cancer in a human body, it gradually destroys that host. Obama has proven repeatedly through his actions that he favors GROWING GOVERNMENT at every opportunity. The onset of Obamacare will suck even more money out of our economy as we pay for countless thousands of new government employees ..... mandated by this monstrous law to administer, regulate, enforce and control health care.

It will be like cancer on steroids !

Jim, medicare part d sucks money out everyday and has since Republicans passed it. You don't hear them talking about repealing that do you?

Taxes have never been lower. Republicans continue to remove revenue and then use the excuse of deficits to cut entitlements.

Spending has never been higher genius ! Our country has a debt level above $15 trillion and the level keeps rising !! The article is about the stock market taking a dive because of DEBT LOADS !!! Can you read ? Can you comprehend ??

Yep happy holidays ! I knew they wouldn't reach an agreement and that the markets would tank before Christmas.

Of course there is one party that benefits from the markets tanking and the economy continuing to suffer. Guess which one it is?

Eric - they both do. They are both betting they can firmly blame the other. When the Dems had all that control over the house and Senate nothing was done. Go figure.

We all have a veto pen. No incumbents. Anyone who believes either party has their best interest in mind is a fool.

You just learned wrong? Every proposal the Republicans have put forward have included tax increases. However, never fear.. ALL BUSH ERA TAX CUTS will expire on DEC 31st if the Super Committee fails. Have no fear.. you will soon see what the Democrats call fair taxes. Get ready for the final collapse because even you will now have to pay taxes. No more refunds for those that don't pay taxes (boy are the Welfare people going to be pi$$ed) and you can see your tax burden go up significantly as well as enjoy the marriage penalty tax. Trust m, the gays will no longer want equality in benefits when that hits.

Can't wait for cap gains to go up again. Watch as the meager economy gags on that one.

Who cares about Norquist - we need to put people in congress who work for us not some stupid talk show host or what ever he is.

Norquist is one mean SOB and is dangerous. He will not bend an inch and beware the Congress person who votes signed his pledge and raises taxes.

I say if they signed vote 'em out. They work for us, not Norquist.

Good post. Obama promised to go through the budget line by line but all we have seen is more spending. Capitol Hill is addicted to money.

Another failed Obama promise ... imagine that !

Ric, see my posting just above yours. :-)

The combination of too-big government and a business-inhibiting income tax system is literally killing our economy; do the reforms I suggested and our economy will be BOOMING within a year.

Ric - The tax code is very complex on purpose. It angers all kinds of big dollar donators who show up at the black tie dinners with the $2,500 checks. If things were simple Congress would not have a lake to fish in.

This has been clearly writtent about. Look it up.

Hosed - I understand what you're saying about Congress not having a lake to fish in. I just really don't care.

Politics was never supposed to be a career - it was something that concerned citizens participated in to improve the country as a whole, not line their own pockets at the expense of others.

Maybe getting back to the original intent of elected officials could be something to consider after we reign this beast back in.

Rick: Your comment doesn't make sense. Try proofreading. Which raises the question: if we did recall every last congressman, would the writers of all these inane comments be suitable to replace the ones we threw out of office? Answer: no way. NO WAY. There isn't a single comment that shows the writer of that comment would be able to fix our government or suitably replace his or her Congressman. What ornery, low-class, ignorant comments. Including my own. I have lots of education, college degree in Poli Sci, been a lawyer for government for 50 years, and I don't have any answers. Recommend we stop criticizing the Congress, and just tell our iindividual guy how we feel. Having read all the comments, I would not vote for a single one of you comment-writers. Replacing the preent Congress would not add one bit of wisdom or thought to the "great debate."

My most sincere apologies, Gordon, that I have let you down with my comments. Yet I fail to see where I need to proof-read my comments. I didn't see anything that appears to be contrary to my intended point.

Not that I was prepared to impress you, or anyone else on here for that matter, with my opinion. I've got one, and so do you. If they don't happen to agree, so be it.

However, don't try to impress me with your academic pedigree. It means nothing to me.

But tell me why we should stop criticizing the Congress? Would you prefer we remain sheep bleating mindlessly in the night?

I'm sure somewhere along the way you happened to read the following statement:

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

Last I checked, Congress - along with the individual members contained therein - are a part of Government. And, arguably, the vine and other mechanisms are a forum to petition the Government for a redress of grievances.

Another question I have for you...what, in your learned opinion, qualifies someone to be a Congressman? You've made your opinion quite clear that none of us here are qualified, but I'm curious to know what it would take to pass muster with you.

Alan,

Thanks for the encouragement and your patriotic views.

Our economy is a giant slow motion train wreck built set off by accounting fraud, theft, and our out of control fractional reserve banking system.

Alan,

I was being sarcastic.

I was not being sarcastic. We will do anything in this country to avoid facing the truth until it is almost too late, that is the way this country works. You should be happy because of all the shorting posibilities.

Don't you love it when a posting is so well said that no cogent rebuttal can be made? Only name calling. Haha!

Jerry ? Mr. Sandusky ?? Is that you ???

Great post at # 19. The truth really hurts the Dems, they simply do not want to TALK ABOUT THE EXPLOSION in government spending under this administration.

Seriously? You want to go back to trading pelts and beads?

I think it would be hard for the bankers to steal all of our wealth if we were trading "pelts and beads". Thomas Jefferson wrote that he viewed a strong central banking system to be a greater threat to our nation than a foreign army standing on our borders. Looks like he was right. I 86'd my 401k a few years ago and am simply trying to make myself energy and food self-reliant. Rather than putting my extra money into a fund where some over-dressed, over-paid suit can steal it. Solar panels, micro-wind turbines, goats and chickens. It's a decent farm. I don't think these SOBs want to steal chickens. When you over-produce energy, most untilities are required to pay you for that. Putting your money into this system is like flushing away or just donating to a big bank. They will steal it and the govt doesn't really care. If they did, someone would have gone to jail over this. Put your money into your home or a farm.

At least there was some semblance of honesty trading beads and furs. Cheat your customer and you might end up dead.

because the repugs can't offer an alternative who isn't exponentially worse.

personally, I'd love to see Howard Dean in the White House-smart and ballsy and populist enough to work for the middle-class

I've got some tar and feathers, too!