The Porkulus bill increasing the national debt 20% in one drunken sailor spending spree bill was incredibly irresponsible. Get ready for Porkulus II, it is in the works, and should add another tril or two.

No one supporting that should talk about fiscal responsibility.

Social security should be positively funded, not a ponzai scheme. We should lift caps on contributions, and do a needs test on recipients, and positively fund it. Medicine should be non-profit, but non-government too.

The 65 tril number is estimated future govt obligations, and is scary but probably valid. By then it will be two weeks pay for a CEO. BFD.

When you are in debt, stop spending more than you take in. That is fiscal responsibility.. Anything else is lip service and excuses.

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... and accountability in general demands a willingness to honestly reflect. Those who can't admit to mistakes are doomed to repeat them. Why is self-examination so hard for most Republicans? Are they only courageous when they have guns in their hands? Such cowardice and immaturity is the breeding ground of disinformation. It does not have a place in large-scale political decisions.

The initial bailout of the financial elites was haphazard and foolish, agreed to by members of both congressional parties during an election cycle. It did, however, happen on Republican watch and was timed for exactly that purpose. It was a devious plan implemented in a devious way, and Dems did not have what it took to slow it down or stop it.

The stimulus package, meanwhile, is a different story. It's an evil made necessary by imminent economic and environmental meltdown. We all need to take responsibility, but particularly those who had the biggest hand in making such huge messes over time. Republicans, that would be you guys. Period.

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This is utter nonsense. Any tax cuts the rich get go into their pockets. They will only hire more workers if there is more business. They will fire workers if there is less business.

In the mean time these tax cuts for the rich have created a gaping federal deficit and trillions of dollars of hot money that helped inspire the toxic debt instruments and create the housing crisis while causing the greatest wealth gap in our history.

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These aren't the current conservative arguments about the direction the new administration is taking us. This author is dredging up some arguments from the past in an effort to obfuscate the issues at hand.

Sure, social security and medicare need to be looked at, but what is on conservative minds for the right here and now is the huge power grab that is this so called stimulus plan. This plan is just throwing money at every liberal idea that is out there including national health care. The plan ignores the real culprit behind the current recession which is government meddling in the free market. Instead they are meddling even more and attempting to redistribute wealth on a scale never before seen.

Another reason Sara us out of touch (actually, she's not really out of touch, she's just trying to deflect the real conversation so she doesn't have to argue the real issue.) is because she is equating Republicans and Conservatives. Sure, the Republicans are supposed to be the Conservative party but that's not actually the case. They may be more conservative than the Democrats, but based on what I've observed over the last eight years, I would have to say that the conservatives are certainly not running things. If they were, we wouldn't have lost the last two elections.

A lot of her claims about the Republicans have at least some validity, but don't think that conservatives are in that same tank.

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Conservatives are ignorant and impervious to reason, which is exactly why they're conservatives. If all of human history had been determined by conservatives we'd still be living in caves. There would be no middle class, modern technology or health care, or even democracy.

Some people are just cognitively and emotionally constituted to resist innovation, cling to the past, grovel before authority and lack concern for the wellbeing of others. Nature and nurture conspire to make them this way, and no amount of reason can dissuade them.

The good news is that the hardcore conservatives are a minority, and the softcore ones have finally caught on that they've been screwing themselves, and almost everyone else, by supporting the GOP. Even media brainwashing was unable to outweigh experiential learning.

The bad news is that there are still areas of the country, mostly in the south, where hardcore conservatives still constitute the majority.

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We are living out the historic irony that government turns out to be the only solution to the problems created by treating government as the problem.

It's fun to watch the Repubs dig themselves in deeper, as they continue to reiterate their discredited ideas. It's as if they had no memory of recent events. It makes them look a little crazy to normal people, which is excellent.

Thoughts on the Bush non-legacy.

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best comprehensive and to the point summation I've read on this.... thanks alternet

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Abolish the federal reserve already.

You cant expect to reduce the deficit when every imaginary dollar printed or created through fractional reserve banking is owed interest on it the second it is created by the FED.

This interest can only be repaid through the creation of more money. Its a never ending debt cycle.

This is why we work so much more and recieve so much less. It doesnt take a rocket scientist to figure this stuff out people.

All of that 10 trillion or so for the bailouts was created from nothing. This is very good for the FED since this means more interest and ultimatly more money to be printed.

You see the FED is a privatly owned bank that is not controlled in any way by the Federal Government. This privatly owned bank is owned by other small privatly owned banks. The people and families that own these banks are the real rulers of the world.

Since the Fed controls the money supply they control the value of said money. They manipulate the value to rob us of all that has real value in the world.

Congress needs to do as the constitution states and create its own interest free money. What gives this money real value is the ability to pay your taxes with it. There is no need to pay interest on something that was created from nothing. Its fucking stupid.

So I guess you can keep wasting your time on ideas that will never work, or you can choose to address the real problems.

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Where did all our money go?
Hell, I don't know!
Flush it down the Toilet!
Let's build a Embassy in Iraq,
Build another arms base overseas.
Bring America to it's knees!

FLUSH! FLUSH! FLUSH!
Flush your money down the toilet!
Where did all the money go?
Hell, I don't know!

Let's give a TAX brake
To the Rich!
While you get stuck
Digging a ditch!

FLUSH it all down the Toilet.
Away she goes!
WHERE SHE STOPS?
NOBODY KNOWS!

Excerpt from the song FLUSH! by
OTTO & The HEMORRHOIDS!

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Let's make a bet. I'll wager that 75% or more of the credit card debt in the USA was created and is owed by Democrats or those who voted for canidates from that party! And, if I remember correctly, it was Lyndon Johnson who moved the monies set aside for Social Security into the "General Fund". Wasn't he a Democrat? I thought so!

Most Republicans aren't overly conservative. They do, however, believe they are more capable of making decisions regarding the money they "earn" than relying on government to decide for them. They also believe the American system allows everyone the opportunity to "work" to achieve a better life and perhaps even "wealth". The people who "bitch" about the USA aren't the immigrants who move here ---- they are people who were born here and feel "entitled" to sit on their asses while asking others to support them!

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It is not the primary function of the federal government under our Constitution to provide for the groups you mention BTW, who the heck are the "feeble"?

States and private groups do an outstanding job of helping genuinely ill people who lack health insurance or their own resources. Even with Obama, we remain a capitalist nation with fifty sovereign states and a federal govt with clearly delineated powers beyond which the feds should not and in many cases cannot go. If that bothers you, lobby Bernie Sanders for a new constitution. If we have the great depression I think we'll have, we probably will end up with another constitution anyway, but it may not be to your liking. Those feeble may be deemed "expendable". Or maybe the "competent" will be deemed expendable. Who knows?

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Would be that instead of continuing to perpetuate government dependency --- which hasn't worked in the 70 years we've tried it --- individual human beings should be helping to take care of individual human beings who need the help?

Eliminate the middleman, so to speak.

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And in the unlikely event that fails, we can talk about raising the retirement age to 70 -- a sensible step, given how much longer we live now.

And another way would be to eliminate the cap on income that is taxed and to make the tax progressive.

Raising the retirement age is something that will take a change in our corporate culture. There is a problem with the idea that goes deeper than simply changing the Social Security law.

One part of the problem is that lifetime employment is a thing of the past and employers now feel free to have lay-offs whenever they feel it useful, sometimes just to get a boost quarterly profits and consequently a bigger bonus.

The other problem is good jobs are generally unavailable older people seeking work. Employers don't like older workers either out of prejudice or possibly out of concern for increased health insurance costs.

In combination, these two facts of life mean that there is already a serious unemployment problem for people over 50. It is nearly impossible to find full-time work with benefits for a person over 55 and the problem becomes even more severe with each additional year of age.

If the solution to any problem is to increase the age of retirement it will be necessary to do something about the unemployment problem for those below that retirement age.

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Let me know when you're done with those two bozo parties.

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Come on this insideous march to undermine US economic soveriegnty has been going on since Reagan!They even propped up a Boner of a Dem to keep their momentum going- but under a Blue cover of smoke.Lets' Start with Undermining the last Real Dem Pres Carter- handed a shit hole of an economy and then blamed for it (soudn familiar) . Then defeated in his Re election literally by 'Hook & Crook' (Irna contra- probabaly Testing out their various new found techniques to throw an election too- voter intimidation, funny counting methods.
Then lets review the 'Star Wars' and toilet Seat binge spending. The Union Busting, the S&L scandal, the Coke induced euphoric spending through conspicuous spending by the 'Miami Vice ' wannabe's.Which lead US right into Pres 'Read my Lips' who further the illusion and the Debt.
Time to Switch uniform shirts- In comes NAFTA, the Repug Congress, The Modernization Act..and everything that further laid the Ground work for the New King George (How Ironic).
Now I could have actually lead this back to Nixon, where it really began. But at least we Caught that SOB- something his Proteges have very hard to assure would not happen again.And who are now 'All the Presidents Men' in hindsight- Cheney, Rumsfeld and Wolfowitz.Granted they are not the only players in the Organized Crime Syndicate- but some have one foot in the bucket now, or are pushing up Black daisies, and others are mere foot soldiers. Bringing these three 'Greatest American Traitors' to justice will assure those affiliated will go down in history as Co conspirators, thus Shaming their Family names, or ending their careers once & for all (Rove).

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and even though Sara's arguments are cogent, Republicans (at least the conservative ones) aren't going to even hear her.
The Republicans don't argue rationally. They don't deal well with reality and facts. They aren't going to take any responsibility for their past actions or those of the Bush administration. They represent the upper economic classes and have at least since the 1920s.
Because most Americans are uneducated and ignorant of history and current affairs, Republicans have been able to sucker people whose interests they don't really represent into supporting them. ... All those "Joe the Plumbers" out there.
So, Dems, start learning how to communicate like the man we just elected to the White House, and try not to be so dense in positing arguments (okay Sara?).

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In order to understand a political philosophy, take it to its final conclusion.

COMMUNISM: If everyone was compensated equally …and there is a grantee of employment, why would anyone work or innovate? COMMUNISM imploded.

FASCISM: If all dissenters were killed and all their possessions confiscated, how would the society continue? They would have to steal from and kill their own …which is what happened in 1944, 1945.

The TALIBAN: If Art and Entertainment were not permitted and all women subjugated; all dissenters killed, how would the society replenish itself?
They would die out eventually.

REPUBLICANISM: In order to maximize profit, labor would be so minimally compensated that workers would practically be slaves. Wealth could only be inherited as it would not be taxed. Elections would be superficial, as the outcome was already determined.

(The last country that tried that got defeated in Europe in WW II)

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"Right now, people only pay Social Security taxes on the first $102,000 they earn; everything over that goes into their pockets tax-free."

What? Nothing goes in your pocket tax free. Income is taxed at 35% and will increase to 39.6%. The social security tax is an additional 6.5% (13% for self employed). Individuals in this tax bracket will never see this money again for social security benefits as well as taxes are capped.

If you want to increase taxes on high income earners and distribute the money to the rest of society, fine. But, don't bullS%#! us, please. This lowers your overall credibility.

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Republicans all around are complaining about Big Government and what the Dem's are going to do to increase its size.

To better frame the argument, Dems must say: "this is not about Big Government, this is about Different Government. Instead of focusing our economy on war and wall street financiers, Democrats will focus government in a different direction, that of the good of the people. We will refocus tax dollars spent on war to the people in the form of health, education and jobs. We will reformulate tax tables to boost the middle class, giving families breathing room to focus on what they do best, raising their families and forming the base of this great country. We will shift the economy to focus on what it takes to raise children and protect incomes, health and safety: in that, we mean that we will invest in education, both E-12 and college/vocational; health care in reforming a system that takes money out of every American's pocket at a greater rate than any other aspect of spending; regulation so that every American need not fear the food they eat will be contaminated or pills they take will be tainted. In other words, we will mind the store and the banks, while keeping you safe at home. Further, your money will stay where it belongs, in your pockets, you will no longer have it picked by those who don't need it, you will be able to use it where you choose and for what you believe it should be spent on, your families."

How's that for a different take on Newty Gingrich's bs?

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Here in Montana legislators voted this week on HJ24 and HJ26 to take back states' rights (every power not specifically given to the federal government by the US Constitution) and restore Congressional control of money (according to the US Constitution, only Congress is empowered to make money--not private banks like the Federal Reserve.)

If the federal government printed US Notes, like Lincoln did during the Civil War, all federal debts would be paid off completely in about a year without inflation or deflation. The federal government could then make interest-free loans to the public.

Benjamin Franklin said the revolution occurred because the English Monarchy forbad the colonies from continuing to print their own money (which worked great) and that put them at the mercy of the international bankers in Europe. The Island of Guernsey off the coast of England has used printed money for 200 years, incurring no debts and therefore no interest.

Get rid of the Federal Reserve, which is neither federal nor a reserve, but rather a consortium of private banks who now make our money and loan it to the government at usury rates.

Restore states' rights and US Notes!

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It should be noted with regard to for-profit health care, that this was a program created by Richard Nixon as a means to hold down health care costs. The HMO was a bureaucracy that claimed to hold down costs to insurance companies by managing and screening patient care. This is an instance of conservatives claiming to increase efficiency by adding a whole new level of bureaucracy in the transaction. Apparently to the conservative mind, only governments have bureaucracies while private industries that generate nothing but paperwork in the name of managing are for some reason not considered to be bureaucracies.

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When one of the first article statements says, "(and let's not even get started on handing Hank Paulson $700 billion, no questions asked)" I have to say something is screwed up! Seems that almost every senator voted for this!

Reading the comments on this article, it appears that no one has a solution to the situation we are in. Those who think we can go back to the way it was are delusional and those thinking we can go green, ride bikes to work, etc. fall in the same group. The rich get richer and the poor, poorer.

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Look, this article is good in a lot of ways. What she is saying is that "Yes, we may have a lot of problems, but they are fixable if we did the right things."

For example, if the problem is Social Security, we can fix that by raising taxes on the rich. If the problem is Medicare, we can fix that with single-payer.

Of course the big problem she didn't even touch (no mention of the Fed and of fractional reserve banking). The debt she dismissed as a problem, which is insane.

But in general, yes I believe that America could come out of this still strong, and remain strong for many years. IF we did the right things. Who is going to do that? Bush sure as hell didn't. Clinton didn't. Who was the last President who did anything right, Reagan? Don't make me laugh. I guess, who, Carter? That's funny, but somehow I'm not laughing this time.

We're expecting this Obama guy to... do what? Give us single-payer? He's already said he won't. Balance the budget? He's already said it will still be roughly a trillion a year by the time his 1st term is up. Fix Social Security? Oh yeah.. he'll "fix" it good alright. I can't wait to see how hard he "fixes" it. Shift to alternative energy? The man talks a lot about clean coal, people, it's time to wake up on this one. End the Fed and switch to a sustainable monetary system? Maybe when pigs fly. No, I think pigs flying is probably more likely.

We could fix our problems by doing the right things, but we're not going to do the right things. That is where this article totally fails.

What we will end up with: steadily increasing deficits over time, and declining tax revenues due Baby Boomers being 'takers' on SS instead of 'givers', the Medicare insolvency issue, and also peak oil and environmental collapse harming our GDP.

That is a recipe for financial disaster.

She said something like "If you yank away SS from boomers, they might start to save for the future instead of spending freely!" Oh, they better start saving alright. Saving up food and water in their basements, for one.

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Going on and on about how stupid Conservatives are may be fun, but it's also a way to cover up the reality:

THEY AREN'T IN CHARGE.

Democrats are.

In fact, Conservatives are a dead letter, as well as a dead horse: their whole schtick has been discredited. They linger in the Senate, and may be able to cause some trouble there, because the Senate turns over so slowly; but they have power there only because there are conservative Democrats, and mainly because the "Democratic" leadership colludes with them.

Face it: The Democrats have the whole trifecta: House, Senate, Presidency, and by wide margins. If this government stumbles, the blame is all on the Dems.

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James A. Swanson, Los Altos, CA
“The Bush League of Nations” [for FREE download of entire $25.95 book]

Let’s pray that the destructive right continues to spout these “10 Reasons” and all the other old GOP nostrums that drove America off the cliff.

This will cause more and more Americans to realize the obvious—that America’s government, like America’s military and America’s financial system, cannot be entrusted to GOP crooks, nitwits and mercenaries.

Bearing in mind that the best humor is based in truth, here’s an accounting joke that says it all:

The GOP’s balance sheet for America has two sides, with liabilities on the left, and assets on the right. The problem is that on the left, there’s nothing right, while on the right, there’s nothing left.

My progressive views are expressed in The Bush League of Nations: The Coalition of the Unwilling, the Bullied and the Bribed – the GOP’s War on Iraq and America, by James A. Swanson (2008, published by CreateSpace Publishing, 448 pages).

You can now download the entire $25.95 book for FREE at www.bushleagueofnations.com.

I ask for nothing in return, except that you consider using it as a resource to help restore and build America.

Jim Swanson, Los Altos, CA
“The Bush League of Nations” [for FREE download of entire $25.95 book]

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It's amazing that in this article, which deals with budget issues and the nationla dept, and in the comments that followed (no, I didn't read the responses), nobody has mentioned the amount of money that could be saved by going after the biggest source of fraud and waste in the federal budget: "defense" spending. In an excellent article in the Nation, Barney Frank summed thing up quite well. And as Barney says, "I would be very happy if there was some way to make it a misdemeanor for people to talk about reducing the budget deficit without including a recommendation that we substantially cut military spending."

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Fiscal conservatives are only interested in conserving their wallets. That's all they've ever been concerned with. Never mind that the economy is tilted towards the rich. Never mind that the banks have always insisted on lending money to people that didn't need a loan. Taking care of the 'little people' has never been on their radar,agenda, or part of their overall fiscla philosophy.

We have millionaires in congress.Whom do you think they serve? The folks that have way more money than they do. If America ran like a business,they'd fold up their tents and shrink out of sight. Why?

In business if a 51% share was faultering ,the business would die,there would be a huge tax sell off and the investors would bail out like a skydiver from a plane.

In America 52% of us are faultering under the
oppression of underemployment. That means we don't earn enough money to meet basic expenses.
Forget about going to a cheap movie house or God forbid,go see a local band at a bar, there's just no money for it. There's barely enough to pay the bills and buy food. But as a 'major shareholder' in America,there's no bailout for us. They don't think we're worth it. They call us lazy and hopelessly over spending beyond our means. WAKE UP DICKHOLES!!!
It's the mid to upper middleclass that lives beyond their means,that think their life won't be complete without a $300 hairstyle or a Lexus or an extremely large house...for two people.

Yet those are the very people that will see the greatest help. They will get the biggest tax write-offs. The biggest 'stimulus' checks.
While the 52% that earn under 35,000 a year get the least. We're not being qualified for $400,000 home loans. We get that loan laughed in our faces. We're not the ones who fucked up our economy. IT WAS THE RICH!!! The bankers,the stock brokers,the insurance giants
that get bailed out and the first 700 billion was sent out to people that flatout told DC 'We ain't paying it back.' But they got it anyway.

I think it's time we let the greedy asspins
fall on their faces,lose everything they stole out of the mouths of the working poor.

They bitch that the market is as low as it was in 1997, Hey wasn't the the time of the Clinton Prosperity? If you listened to Hillary it was. So why is that bad now? because the greed machine got the market up to $14,000 a share for bluechip stocks. So what they are really saying is that there was no prosperity in the Clinton years...unless you were already rich. Just like now.

Washington and the rest of you neo-con buttlickers had better get it right and start thinking about taking care of the people you shit all over to get to your fancy gated communities...before they become your prisons.
52% are mad as hell. 52% skip meals,not because we want to fit into a size zero but because we CAN'T AFFORD THE FOOD.

Like the Declaration says,and I'm paraphrasing
'When a governance fails to support the people it is the right of the people to abolish said governance' People,it's getting to be that time.

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Christ, what a bunch of bull. If all someone can do is spout wingnut fantasies, tell them to get off Alternet. Please.

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So sorry. the above comment was meant for the first commenter, NOT the excellent article.

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First off I completly disagree with the author when he says that Democrats economic decisions have given us so much in return. It's was LBJ's "New Society" initiatives that really got this ball rolling. He's not thinking about the long-term effects of that decision and others. Another Democrat's decision you can point to is Clinton's "Communitty Reinvestment Act." This one decision alone helped create the Sub-Prime Mortgage fiasco that helped lead to the fall of Fannie and Freddie, two more government regulated nightmares. My point is, there are too many variables and to put the blame on Republicans for this mess is B.S. The Fed kept interest rates artificially low, banks securitized mortages and fueled greed, printing fiat currency isn't helping either. And, I'm a registered Dem. by the way. Stop playing politics and get down to the real problem. You can't spend your way out of bankruptcy.

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When you lose your job - and your wife and family - and have nothing left - except your house - which you still live in - awaiting the mortgage company to take possession - because you can't pay the mortgage

You may react in a very strange way

And put up a massive poster covering the entire front of your house that you have made yourself

And knock on our door

And completely fail to get welcomed into our home - because my wife answered the door

If I'd got their first...

But she was wonderful to him and invited him to the pub tomorrow (there's a great band on and its FREE to get in - and we would certainly buy him an Orange Juice - or even a Pint of Beer - he could just drink Pints of Water - served Free - without any problem whatsoever)

She has a heart of gold

But was doing the ironing

And was a bit phased by our 45 year old neighbour turning up on our doorstep dressed like David Bowie as if it was 1971

Aladdin Sane

Not a problem if you get your timing right

Tony

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so that comment on the bottom of the statue of liberty must have meant nothing to past leaders of the U.S. It's a shame because it seems to be the whole basis of the ethos that america was built upon...

"Keep, ancient lands, your storied pomp!" cries she
With silent lips. "Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore,
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!"


I DONT REMEMBER ANY PAST LEADERS OF THE U.S SAYING "GET THE F*** OUT OF HERE YOU WEAK PIECE OF S***".

Actually Reagan was the one who started saying crap like that - unfortunately he did not embody the vision of the founders - he was just an opportunist a-hole.

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And let's ask ourselves who REALLY rolled over and passed the TARP bailout . . . 263 Dems in the House.

I don't care what labels you use the reality is this.

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... of what the elite class believes, they created this bullplop 'Left vs. Right' media side show to distract and misinform. The trouble is it's not just so called Conservatives, Liberals are exactly the same in our beliefs. That's us, by the way. Of course we are the same. You may think that's a stretch, but bear with me.

Consider how, even in this article, it's pointed out how even Reagan and Bush Sr. have, during their Administrations, raised taxes yet they publicly stated they stood for the opposite. Obama pulled a great Clinton by not mentioning any taxes in his new budget at all. Great speech, as always. Haha!

Its just PR man.

The Republicans (Conservatives) and Democrats (Liberals) are just that... symbols of a certain kind of governance but completely the same in practice. Why? Because it's the elite who own and thus run this place. What is actually helpful info for The People is not in their interests.

Arguing any political slant in American media is doomed to being one side or the other in spite of what facts might lead to actual understanding of what is needed to help the world wide economy from a coming decade long Depression. Cause it's informed people, you and me, that will ultimately do that.

The media is just to sell you things, make you a consumer. Everything else is 'fill' (that's the actual media term for it, btw). So we get the back and forth on TV that passes for information and news.

Otherwise we get the Treasury Secretary saying certain economists 'just don't understand Washington' to Republican crazies declaring a civil war will fall on us all due to Obama.

Obama's 'spending' or 'pork' criticism is exactly what Republicans say about ANY spending THEY didn't do. Democrats just didn't bother criticizing Bush.

Let me say up front, I do agree with this article that at this time much of what the Republicans are saying (typically) will be DISASTROUS for the future and that Obama' spending is the right thing to do (if not enough)... but wrapping that argument into Left vs. Right is not what I'd call 'progressive'.

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Take out the CEO benefits, the advertising costs, the big legal firm fees for evading coverage, the duplicated bureaucratic red tape and just do the coverage without figuring out who is responsible all the time.
You know kind of like everyone is worth being cared for as a human being who is suffering. Kind of like the Hippocratic oath was supposed to be. Rather than caring for a profit center or a liability as the case may be!!!

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Liberals like Sara distort the facts by accusing conservatives of fiscal irresponsibility when in fact it is self-serving republican and democrat politicians who laid the groundwork for a mild recession.

Note that the emergence of the Marxist union of Obama and a radical liberal Congress has so dramatically shocked and stunned the markets (over 50% collapse since it became apparent that Obama was going to be elected in October 2008) that a minor recession has morphed into a possible “great depression”

Note that the sum of ALL yearly budget deficits throughout the entire Bush administration will not equal any of the upcoming Obama Marxist deficits. Indeed, the Marxist Congress will destroy America's economic well being for years to come.

Note that it is acknowledge by all but a few fringe on Alternet that “government that governs least, governs best”-- Jefferson. Yet, the Left made a cottage industry of criticizing the Bush administration for running up deficits in the billions, while Obama, Pelosi, et al are fawned over for running up deficits in the TRILLIONS.

If the Left didnt have double standards, they wouldn't have any standards.

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While Bush and the republicans (and democrats) spent like drunken sailors the last eight years.

The deficits would have been considerably less had the most destructive MAN-MADE (9/11) and NATURAL (katrina) disasters to the US homeland in history not occurred on Bush's watch.

In addition, none, but fringe, can argue that Bush correctly cut taxes to eliminate the recession that he inherited from clinton.

Note that 9/11 may not have occurred had clinton killed bin laden when he had the chance to do so numerous times and had clinton not gutted the intel community.

Note that Reagan's increase in the deficit throughout his entire two terms is less than what the Marxist's in Congress will do in just one year (pick any year between 2009 and 2019)

In addition, while the Left will run-up deficits that will destroy our meritocracy and created generational moral hazard for decades, Reagan's increased spending led to the longest sustained growth in history and victory in the Cold War against a despotism that had the capability to kill every American 10 times over.

Note that Sara hypocritically rails against Reagan for running up deficits in the billions while Obama and his merry band of botoxed and hairplugged drunken sailors will run-up deficits in the trillions.

If the Left didn't have double standards, they wouldn't have any standards.

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Zombie-Cranberries

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Sara discounts the $56 trillion dollar ticking time bomb of entitlements as nothing to worry about.

Her delusion is why democrats must never be allowed anywhere near capitol hill after they are voted out en masse in 2012.

The following is from the Social Security Administration verbatim:

""In 2017 we will begin paying more in benefits than we collect in taxes. Without changes by 2041 the Social Security Trust Fund will be exhausted.""

Everyone one of you automatons who voted democrat must understand that your retirement benefits will be reduced and degraded.

In addition, every young person must understand that these smiling Leftist are saddling you with tremendous debt that will be paid by YOU in blood, sweat, and toil.

For example, you will have significantly less for yourselves and your future families then previous generations thanks to irresponsible governance by the few (moderate republicans and all democrats)

Don't blame anyone but yourself when you "reap the whirlwind" in the next 20 years.

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Remember these same Leftists were (justifiably)but hypocritically railing against Bush and the drunken sailor republicans for excessive spending?

Now they are downplaying the debt forced down our throats that is an order of magnitude greater than anything even the most rabid spending republicans could imagine.

If the left didnt have double standards, they wouldnt have any standards.

for all those young people out there with the obama stickers on your car's bumper, READ THIS SUCKERS!

In summary, the young idiots who are fawning over Obama and his relentless drive to destroy meritocracy over marxism are going to have a standard of living similar to that of the idiots who fawned over peron in argentina in the 70's when he destroyed the most prosperous nation in latin america.

this is for you folks, I won't have to live in the mess created by Obama and CO. -- I will be dead or near death.

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Sara is cavalierly downplaying the impending doom of Social Security bankruptcy

Note that it probably won't matter when/if social security collapses since medicade and medicare and "Obama bane" will have broken the nation before that occurs

However, if by some miracle, we can resort common sense and responsibility in governance by throwing out both democrats and republicans then social security will be the knife turning in our gut that will make America a permanent socialist basket case.

For example, Sara's "solution" is an ever expanding application of job killing, growth killing, and innovation killing taxation to pay for the increasing encroachment of social security expenditures.

Why should Sara be alarmed by the destructive effects of increased taxation on future generations when she supports the present unprecedented rape of American society by the Marxists in the White HOuse and COngress.

alas, I am going to take a break. Debunking Liberal hypocrisy is tiring.

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And Celebrate Karl Denninger's Award

At least he makes far more sense than anyone else who knows the slightest bit about economics in America

If you want me to give you a list of people who even have the slightest clue about analysing the current financial problem then I will

But it is Friday night

So instead of worrying about it

Watch

Jimi Hendrix - Voodoo Chile Atlanta '69 '70

Tony

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Free America, you are ignorant; you are far from reality of the economic crisis Dumbya put us in. Forget Wall St. and AIG and the greedy pork-mongers in the bailed-out banks. Dumbya did that.

In a word, WAR, to put it very simply, is why our economy has tanked, why millions have lost their jobs and homes.

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Both now failed, all boats did NOT rise with tax cuts on the wealthy and deregulation -- more at Balkingpoints.com -- awesome World-at-Night satellite view

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click

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"if their ideas about spending didn't lead us"

if their ideas HADN'T LED us

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This is actually funny-

"They think it's morally wrong for government to ever invest or hold capital -- despite the long trail of successes that have enriched us all and transformed the face of the nation."

I guess she thinks captial comes from taxes and worse, INFLATION. Printing money doesn't create capital. Savings creates capital. Another thing she does is mix two separate problems together, although she's not the only one guilty of this; The economic problems our nation is facing do not wholely stem from the Federal Budget Deficit. Our problem is that the banking system collapsed. I'm not trying to down play the severity of the Federal Buget problem, but there is a difference. The government (Democrats by the way) pushed the banks to lend to people who would not have received loans through Clinton's modification of the Communitty Reinvestment Act. This is turn caused the banking community to securitize high risk loans for profit. As a result our economy was funded by junks bonds to foreign investors hoping to get a higher yeild than our treasury bonds. This along with the irresponsible American Consumer and other factors; credit default swaps; artifically low interest rates; and greed are the things that got us into this mess. It was both Democrat and Republican, although I think mostly Democrat decisions that got us here. I think the real danger with this article is that she seems to be playing into peoples ignorance of the situation. It's all to easy to just point the finger at Republicans and say they are to blame. Even easier when people don't even have an understanding of basic economics, like what capital is and where it comes from.

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"The conservatives -- that's right, the very same folks who just dragged us along on an eight-year drunken binge during which they borrowed-and-spent us into the deepest financial catastrophe in nearly a century -- are now standing there, faces full of moral rectitude, fingers pointing and shaking in our faces, righteously lecturing the rest of us on the topic of "fiscal responsibility.""
I must add, that I was dragged along kicking and screeming all the way to the bank. It is fun to kick conservatives, but we were not complaining while we had folding money in our pockets. Now that we are all poor, it's nice to have an uncle with deep pockets.

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It's interesting that the conservatives commenting here are so shameless. It was their party, their chosen officials, their policies that have created economic, environmental, constitutional, military and foreign relations crises, and they're demonizing us!

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Thanks for the great article!

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You're lucky!

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Most of you know I run an ICU in Dhaka, taking care of very poor children. I just pronounced a cute little 18 month old dead. He had very severe pneumonia and had had 5 cardiac arrests today. We could have saved him if we had ventilators, but we don't.

The reason we don't have ventilators is that our USAID funds were cut off several years back under the Mexico City Policy because one of our satellite hospitals does abortions to keep poor women out of the hands of village quacks and to keep them from having babies who come into the world to starve to death.

The baby's parents were lovely people, extremely poor, hard working, and grateful for our efforts. It breaks my heart to see them weeping their eyes out over their child, sacrificed on the altar of conservative self-righteousness.

People who do things like this, and who gleefully rain down bombs on innocent children in Iraq, Afghanistan, Pakistan and Palestine, are not pro-life.

So for all of you conservative posters who wonder why I dislike your movement and its ideologies, I invite you to come over and tell the parents of these disposable children why you support the Mexico City Policy and why you're angry that Obama rescinded it.

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Bush and Cheney did so much damage to America there is no way Obama can fix it. If he does, he will be the greatest president ever. www.nsyfforum.com

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ROCKHEAD OBAMA WILL IGNORE PUTIN

PREACHING TO THE DEAF-MUTE

3.1.09…At the recent World Economic Forum, Russian Prime Minister Vladimir Putin warned of our government’s flirtations with socialism, that is, a state-run economy.

Trying not to “gloat,” Putin told the U.S. that “Excessive intervention in economic activity and blind faith in the state’s omnipotence” is a “mistake.” He reminded listeners that state control of the old Soviet economy made the nation “totally uncompetitive.”

CRAWFISH NOTE: The day when Russia actually warns us how bad socialism was…wow…bummer.
Russia has taught Obama nothing.
Cuba has taught Obama nothing.
Obama is a trained secular socialist surrounded by same. He is a true believer in secular socialism. Heck, Jimmah Carter has taught Obama (and Reid-Pelosi) nothing.
Stupid is…as stupid does…but its us that have to suffer for this arrogant ignorance of economic reality. Suckers.

http://conservablogs.com/theconservativecrawfish

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Obama-Pelosi-Reid are not confused, are not moderates, are not off track…they are (and have been) TRUE BELIEVERS in secular socialism.
No, they are not a surprise to anyone who cared a wit all of last year to research these three radical socialists. They really believe we can have a “prosperous Cuba”, that we can do better IF the gov-meant extends its reach 10 or 20 fold (and its borrowed spending).

The slogans they use like “shared sacrifice” and “economic justice” are just code for tight socialism run by hundreds of thousands of new gov-meant employees (unionized and faithful voters of course).

They simply do not trust the voters with a real tax cut because only gov-meant can spend wisely (your money). All the jive, smoke and mirrors talk is simply what they do to get more secular socialism.

They have learned nothing from Carter or Castro because they are not reality-based…they are the secular socialist borg…the true believers who will makes excuses and blameshift for years if need be. It matters not that your IRA is down 30% next Labor Day or Christmas. True believers will find strawmen even if the DOW sinks to 4,000. Its always somebody else’s fault…never the principles of secular socialism.

Thus 2009 will only be the first year of the Obama MISERY INDEX. Carter never gave up and neither will Obama.
True believers go down with the ship (or economy in this case). The awful part is YOU are chained to the deck.

http://conservablogs.com/theconservativecrawfish/

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Why listen to suggestions from the right( Bush's biggest blunder was acting too left) when we have Chavez and Obama's friend Odinga guiding us into a new monetary policy? Our brilliant and worthless new treasury secretary is nothing more than a fall guy for the administration.

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of Joseph Goebbels. The citizens of the U.S. have relieved themselves of the burden of George Bush. We still have the burden of Joseph Goebbels.

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