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View Diary: Obama condemns 'Republican default tax' in weekly address (66 comments)

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  •  Because he doesn't care (1+ / 0-)
    Recommended by:
    billlaurelMD

    if the recession worsens.  And he so wants to cut benes for the lesser among us.

    The banks have a stranglehold on the political process. Mike Whitney

    by dfarrah on Sat Oct 12, 2013 at 08:24:26 AM PDT

    [ Parent ]

    •  I have no clue (0+ / 0-)

      how that political compass score came out from the same person that says some of these things.  But who knows?

      This time, the elephant must go down. And if possible, it must be so wounded it does not get up for a long time to come. -- Andrew Sullivan, 1 October 2013

      by billlaurelMD on Sat Oct 12, 2013 at 08:26:34 AM PDT

      [ Parent ]

      •  I'm not sure... (0+ / 0-)

        ...why my political compass score is remotely at issue.

        Does my comment or does it not reflect the actual state of affairs? If it does, "saying what is true" shouldn't be a political thing. It's just saying what is true.

        (-5.50,-6.67): Left Libertarian
        Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

        by Sparhawk on Sat Oct 12, 2013 at 08:29:12 AM PDT

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        •  So those (0+ / 0-)

          numbers are a score?  Where do you go to get scored?

          The banks have a stranglehold on the political process. Mike Whitney

          by dfarrah on Sat Oct 12, 2013 at 08:32:49 AM PDT

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        •  I thought Treasury (0+ / 0-)

          would decide what gets paid first.  But I can't pretend that I truly know.  

          What I do truly know is that this is a CF of global proportions .... literally.  And 7% contraction is more than a reduction in GDP; it's about PEOPLE.  And maybe that's why I don't know for sure what the facts are, because this is hurting many people.  That seems to get lost in discussion of the numbers.

          This time, the elephant must go down. And if possible, it must be so wounded it does not get up for a long time to come. -- Andrew Sullivan, 1 October 2013

          by billlaurelMD on Sat Oct 12, 2013 at 08:33:51 AM PDT

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          •  T bills will be priority 1 (0+ / 0-)

            Everything else will come second. Propaganda that claims that T bills are at risk is just that. The bond market knows the score, which is why T bills still pay very low interest rates.

            This situation is solely a question of whether we will continue to borrow 7% of GDP or if we will not. Cutting borrowing will (I think) cause a massive recession, but will arrest the growth of US debt. Which of these options you prefer probably has a lot to do with who you are, how you are impacted, and what side of the aisle you are on.

            But in any case, there will be no T-bill default and everyone knows it.

            (-5.50,-6.67): Left Libertarian
            Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

            by Sparhawk on Sat Oct 12, 2013 at 08:44:26 AM PDT

            [ Parent ]

            •  Another big problem. (0+ / 0-)

              How do you correct the recession?

              Theoretically you can't borrow and spend.  No stimulus this time.  Recessions don't fix themselves either.  Time doesn't cure it.  Recessions get progressively worse as more people get laid off, government revenue declines and government expense goes up.  Most economists consider recessions far more dangerous than inflation because of this factor.

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