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View Diary: Abbreviated pundit roundup: Giffords and Kelly launch group to take on the NRA (60 comments)

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  •  The Amazing Santelli is floating a theory (3+ / 0-)
    Recommended by:
    skohayes, singe, politicalceci

    That Default isn't all that bad.
    http://video.cnbc.com/...

    As the Elites Come Together to Rise Above to Find a Third Way to do Rude things to the 99%

    by JML9999 on Tue Jan 08, 2013 at 04:49:24 AM PST

    •  I cant get the video to load at work (1+ / 0-)
      Recommended by:
      JML9999

      But I'm sure Santelli has struck pure intellectual gold, with his bachelor's degree in finance. I'm sure he knows much more than PhDs in global economics...

      •  There's a transcript on the side of the video (1+ / 0-)
        Recommended by:
        celdd
        n meantime, rick santelli is talkings to a very special guest. take it away. absolutely. and before we get to our very, very special guest, larry cut low, i'd like to read a couple of quotes. i hope to high heaven that these guys don't mess around with the faith and credit of the u.s. government. we can go to the chairman of honeywell, mr. code. you don't put the credit of the united states finances at risk. now, remember, we pay roughly about 37 billion a month on servicing our debt, which is this year going be about $450 billion. and we still do take in anywhere between 60% to 65% of what we spent on the revenue side through things like taxes, even though 35% to 40% is borrowed. so welcome, larry kudlow. it's an honor to have you. as i went back to some of those, the secretary was very straightforward about how they could do it and still try to pay the legal obligations. debt in the hands of the public, which is what you're worried about, it's about $19 billion a month, overall about $230 billion. we take in about $250 billion in revenues. thou, i know it's uneven, but i'm just averaging out. these numbers will be revised. so when you look at it that way, we don't have to worry. the debt ceiling will be covered. the interest and expense on the debt will be covered with ease. but rick, here is the problem. you're talking to someone who wants to cut spending. when you look at some of the other government obligations internally, when you look at social security, when you look at medicare, when you look at medicaid and you add that to the interest on the debt, you're really saying that 65% of monthly revenue would go to -- including veteran. on the debt and the internal obligations. no, and that's why i loved having you on the show. nothing but the facts. and what you laid out does demonstrate in a clinical fashion. i'm not advocating one way or the other. but there is a difference between breaching the fiduciary contracts made with our debt holders and the moral obligations we've made to pay off entitlements and veterans. but i guess my next question for you would be -- so the fact that a debt ceiling rate is just raising it to pay the obligations we've already vouchered for, in other words, paying bil already have incurred the liability on, i understand that's a democratic argument. but, larry, the democrats at every turn proactively tried to get at spending, how can you go at it? what is your solution? is this a sequester? yes. let me go back to what erskine boels says. we should not fool around with the credit of the u.s. government. i criticized the republicans and democrats on that last year. here is the key. and i think you referred to it. the sequester, the across the board spending cuts sequester, $1.2 trillion must be enforced. that was part of the deal last year when they raised the debt ceiling a trillion. john boehner said as much. read the boehner interview in the journal today wh my pal, steve moore. boehner said a dollar increase in debt, a dollar cut in spending. that's his second point of leverage. so, a, the sequester and, b, one for one debt and spending cuts. and i agree, everybody should
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        As the Elites Come Together to Rise Above to Find a Third Way to do Rude things to the 99%

        by JML9999 on Tue Jan 08, 2013 at 05:06:38 AM PST

        [ Parent ]

    •  He is a low life turd. He breath life into the tea (1+ / 0-)
      Recommended by:
      JML9999

      party reactionary's and then sat back and watched with a smug look on his face. Its shit heads like him who Obama's reelection really is driving crazy.

    •  Dear Mr. Santelli: (1+ / 0-)
      Recommended by:
      JML9999

      Your 15 minutes are up.  You've done enough damage.

      "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

      by SueDe on Tue Jan 08, 2013 at 06:27:43 AM PST

      [ Parent ]

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