Buffett:
“I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.”Video at link|||That's more like it Bob.
But assassinate the lenders is #1 imo.|||Quote:
Warren Buffett: I could end the deficit in 5 minutes.
Buffett:
�I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.�Video at link
I love this! It reminds me of something I read on another message board:
Quote:
If you start with a cage containing five monkeys and inside the cage, hang a banana on a string from the top and then you place a set of stairs under the banana, before long a monkey will go to the stairs and climb toward the banana.
As soon as he touches the stairs, you spray all the other monkeys with cold water. After a while another monkey makes an attempt with same result, all the other monkeys are sprayed with cold water. Pretty soon when another monkey tries to climb the stairs, the other monkeys will try to prevent it.
Now, put the cold water away. Remove one monkey from the cage and replace it with a new one. The new monkey sees the banana and attempts to climb the stairs. To his shock, all of the other monkeys beat the crap out of him.
After another attempt and attack, he knows that if he tries to climb the stairs he will be assaulted.
Next, remove another of the original five monkeys, replacing it with a new one. The newcomer goes to the stairs and is attacked. The previous newcomer takes part in the punishment... with enthusiasm.
Then, replace a third original monkey with a new one, followed by a fourth, then the fifth. Every time the newest monkey takes to the stairs he is attacked. Most of the monkeys that are beating him up have no idea why they were not permitted to climb the stairs.
Neither do they know why they are participating in the beating of the newest monkey.
Finally, having replaced all of the original monkeys, none of the remaining monkeys will have ever been sprayed with cold water.
Nevertheless, none of the monkeys will try to climb the stairway for the banana. Why, you ask? Because in their minds that is the way it has always been!
This, my friends, is how government operates and is why, from time to time, ALL of the monkeys need to be REPLACED AT THE SAME TIME.|||I read this on another board...
Just a suggestion
"When the people fear their government, there is tyranny; when the government fears the people, there is liberty." -Thomas Jefferson
I fear for our great country. The ability to impeach an elected official is given to the House which is controlled by the Republicans. While 18 of our 50 states offer their citizens the ability to recall their elected officials, yet no federal legislator has ever been recalled. Not because there was never a reason to but because every attempt has been denied by the court. But, we need to try.
Of these 18 states, Alaska, Arizona, California, Colorado, Georgia, Idaho, Illinois, Kansas, Louisiana, Michigan, Minnesota, Montana, Nevada, New Jersey, North Dakota, Oregon, Rhode Island, Washington and Wisconsin, can we begin a revolution here? Even if our attempts are struck down by the court, we need to show our elected officials that we mean business.
Our Senators and Representatives no longer represent us because they don't fear us. They should.
Particular officials I would like to see gone:
Representative John Boehner of Ohio: This mother ****er is seriously holding our debt ceiling hostage. Absolutely unacceptable.
Representative Michele Bachmann of Minnesota: She is one dumb mother ****er. Seriously? Do I have to mention she wants to remove minimum wage to increase employment?
Who else do you think belongs on this list? Can we act on it? If we cannot remove them from office, we at the very least need to crucify them in the media the way they crucified Anthony Weiner.
Warren Buffet said, "I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection."|||The U.S. may drop its top-notch credit score if the debt limit isn't elevated and the nation is forced to default on commitments. A reduction in rating will trigger a ripple in the economic system influencing the pocket book of the average resident. I read this here: The U.S. credit rating will fall if debt ceiling is not increased.|||Failure to raise the debt ceiling will not cause the US to default on its debts. That's like telling the credit card company that if they don't raise your card limit, you won't be able to make your payment this month; it makes no sense.
What they really mean is that they might have to skimp on some government services if they can't borrow from the next generation to feed our greed now, and since threatening to cut their own troughs of pork-barrel spending wouldn't be likely to sway anyone, they instead tell people that they're going to cut essential services.
It's kind of like trying to cut Charlie Sheen's pay, and even though everyone knows that 50% of his salary is budgeted for cocaine, he still tries to sell you on the idea that he won't be able to afford his house payment if the cut goes through. It doesn't pass the laugh test.|||It's would kill the $ rating as #1 we are about the only 200+ year old Government that never missed a payment on Debt.
I like the Gang of Six Approach but get her done People.|||Well this week's solutions are certainly nothing new. On the one hand, you have what ultimately amounts to a symbolic gesture with no chance of getting past the democrat blockade and no spines in the republican party to take it any further. Even if it did somehow get passed, it doesn't go nearly far enough to solve the problem.
On the other side, you have this "gang of six" proposal, put forward by democrats and what are referred to as "RINOs", which has all the markings of typical left wing solutions. A relatively tiny decrease in spending blown up in the rhetoric as some gigantic budget cuts, huge tax increases (again) and, if it follows the trend of previous "solutions", hidden spending that in the first year easily surpasses the proposed budget decreases that take place over ten years.
All signs point to them playing this game all the way to the 2012 election and beyond, if we haven't fallen into the same chaos as Greece before then. Meanwhile unemployment continues to climb, prices continue to rise, and jobs continue to get more and more scarce. I just got out of a job interview and found out that I'm competing with no less than 300 other people for this one opening. Its not even that good of a job, and this community isn't exactly what you'd call "big city".
I'd say that maybe we should be downgraded, regardless of what happens in the near future. Clearly we have no intention of getting our **** in order and in fact are actively seeking to make things worse. In fact, the results on a Google news search seems to indicate that the credit rating downgrade may have already started.
God, how I hate politicians.
|||Prediction: The spineless Republicans will cave.Also, S&P has said that they will downgrade us even if we do raise the debt limit, but don't get control of our spending.|||Quote:
If you start with a cage containing five monkeys and inside the cage, hang a banana on a string from the top and then you place a set of stairs under the banana, before long a monkey will go to the stairs and climb toward the banana.
As soon as he touches the stairs, you spray all the other monkeys with cold water. After a while another monkey makes an attempt with same result, all the other monkeys are sprayed with cold water. Pretty soon when another monkey tries to climb the stairs, the other monkeys will try to prevent it.
Now, put the cold water away. Remove one monkey from the cage and replace it with a new one. The new monkey sees the banana and attempts to climb the stairs. To his shock, all of the other monkeys beat the crap out of him.
After another attempt and attack, he knows that if he tries to climb the stairs he will be assaulted.
Next, remove another of the original five monkeys, replacing it with a new one. The newcomer goes to the stairs and is attacked. The previous newcomer takes part in the punishment... with enthusiasm.
Then, replace a third original monkey with a new one, followed by a fourth, then the fifth. Every time the newest monkey takes to the stairs he is attacked. Most of the monkeys that are beating him up have no idea why they were not permitted to climb the stairs.
Neither do they know why they are participating in the beating of the newest monkey.
Finally, having replaced all of the original monkeys, none of the remaining monkeys will have ever been sprayed with cold water.
Nevertheless, none of the monkeys will try to climb the stairway for the banana. Why, you ask? Because in their minds that is the way it has always been!
This, my friends, is how government operates and is why, from time to time, ALL of the monkeys need to be REPLACED AT THE SAME TIME.
This is why I don't support any political party and never will. Same with politicians. I only support issues.
Quote:
The U.S. may drop its top-notch credit score if the debt limit isn't elevated and the nation is forced to default on commitments. A reduction in rating will trigger a ripple in the economic system influencing the pocket book of the average resident. I read this here: The U.S. credit rating will fall if debt ceiling is not increased.
Credit score only matters when you intend to borrow money. If you don't borrow money, credit score is irrelevant. Not raising the debt ceiling has the side effect of preventing further borrowing of money.
I'm curious how much of the debt is at a fixed rate versus variable rate. Along the same lines, will the Fed ever be able to raise interest rates without adversely affecting the US ability to borrow money? Methinks the low interest rate isn't just to spur the economy.
The real issue is: How much chaos will ensue with the draconian austerity measures required to prevent the inevitable downgrading of US credit rating? USSR lost the cold war in large part due to being unable to afford it. Which 'war' will the US lose? War on poverty? War on drugs? War on terror? Will we be able to win any? At some point we will have to eliminate the Department of Health and Human Services just so people don't live as long to save money on Medicare and Social Security. How messed up is that scenario?
In 20 to 30 years, the US will only be able to afford medicare, social security and interest on the national debt without borrowing money. All other programs, including defense, will have to be borrowed for. The next generation of American's will use 100% of revenue to pay interest on the debt (2060 to 2080).
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