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Posts posted by Spastic_Koala

  1. whoa whoa, why are you guys talking about politics??


    i was just talking about a.. fairy tale.


    seriously though, US politics are so much more absorbing, and hilarious, than ours.

    Crud, forgot about the politics rule. If my post breaks that, please feel free to delete it.

  2. if the donkey was going to completely capitulate to the elephant's demands, why didn't it do it a month ago?

    2011: when the empire ended ;)

    Why didn't they do it a month ago in this mythical place? Elephants and Donkeys were politically posturing.

    The deal that they're voting on today seems to be a bizarre amalgam of what both sides sort of, kind of, not really wanted.

    So we'll start with spending cuts of $1T (where $ = fairyland currency) over 10 years (only $100B a year - not much) and only raise the debt ceiling by $1T. Then a "special bipartisan elephant/donkey committee" will be formed to search for a "balanced" approach of reducing deficit spending which may or may not include a mix of spending cuts and tax revenue increases. They're targeting an additional $1.5T. They have till November 23 to figure something out. Then the fairyland Congress has until December 23 to agree on it, along with something about the balanced budget amendment. If they don't agree, then automatic spending cuts will be triggered across the board, cutting the budgets of programs both parties like (which I guess is supposed to be an incentive for them to agree on something instead of letting the automatic cuts occur). There's no way in hell any plan this "committee" comes up with will pass the fairyland Congress if it contains any sort of tax revenue increase. So in the end, it'll come all from spending cuts just like the Elephants wanted. The only thing Donkeys may succeed in to a certain extent is protecting excessive cuts to Social Security and/or Medicare.

    What's frustrating is that this entire debt ceiling debacle is a self-manufactured crisis. By having a ceiling and acting uncertain about whether or not we're going to raise it, we've created uncertainty in the strength of the dollar and made investors question whether or not the USA is a sound investment. Without a debt ceiling, none of this would have happened, the strength of the US economy and credit worthiness would never have been questioned. There was no doubt in if the US would default on our debt payments until we created that doubt. The only other country in the world with a debt ceiling is Denmark and they've purposely set their ceiling so high that they'll never reach it and thus never need to raise it.

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