Archive for the DEBT CEILING Category

THE CONSERVATIVE TAKE ON THE CULTURE WAR: “YEAH, YOU WON, PROGRESSIVES, BUT YOU CHEATED!”

Posted in 2014 ELECTIONS, 2016 ELECTIONS, ABORTION RIGHTS, ADVERTISING, AFFORDABLE HEALTH CARE ACT, AMERICAN EXCEPTIONALISM, AMERICANS AGAINST THE TEA PARTY, ANDREW BRIETBART, ANGRY OLD WHITE MEN, BAD JOURNALISM, BIG LABOR, BIGOTRY, BREITBART, BREITBART IS STILL DEAD, CHRISTIAN PERSECUTION IN AMERICA?, CHRISTINA HENDRICKS, CIVIL RIGHTS, CLASS WARFARE, CLIVEN BUNDY, CONSERVATIVE ANTI-INTELLECTUALISM, CONSERVATIVE BIGOTRY, CONSERVATIVE DESPERATION, CONSERVATIVE FEAR, CONSERVATIVE HEADS EXPLODING, CONSERVATIVE HYPOCRISY, CONSERVATIVE IGNORANCE, CONSERVATIVE LIES, CONSERVATIVE NEWS, CONSERVATIVE OBSESSION WITH SEX, CONSERVATIVE RESISTANCE TO FACT CHECKING, CONSERVATIVE VIOLENCE, CONSERVATIVES ARE OLD AND DYING AND SCARED, COUNTER-SHAI'TANISM, COUNTER-THEOCRACY, CURRENT EVENTS, DEATH PANELS, DEBT CEILING, DOOMSDAY PREPPERS, DREAM ACT, ERIC HOLDER, FAMILY RESEARCH COUNCIL, FASCISM, FEARSPEAK, FETAL PERSONHOOD, FOX NEWS, FREEDOM, FUNDAMENTALISTS ACTING BADLY, GEORGE ZIMMERMAN, GLBTQ RIGHTS, GLENN BECK, GONZO JOURNALISM, GOP, GOP AS A MINORITY PARTY, GOP MELTDOWN, GUN CONTROL, GUN VIOLENCE IN AMERICA, HAPPINESS, HATE, HELL V. UNITED STATES, HELLAC CAMPAIGN TO END BIGOTRY, HERITAGE FOUNDATION, HILLARY CLINTON, HILLARY FOR PRESIDENT 2016, HILLARY RODHAM CLINTON 2016, HOMOPHOBIA, HOT MESS, HOW HELL WORKS, HOW THE RIGHT SEES THE 47%, HUMAN BEAUTY, HUMAN BEINGS, HUMAN RIGHTS, IMMIGRATION REFORM, JOURNALISM, JUSTICE, KARL ROVE, KEL'HESH'AR, LAAL HETHRI, LEGALIZE ADULT SEX WORK IN AMERICA, LIHEAP, MILEY CYRUS, MURDER SUICIDE, NATIONAL SECURITY AGENCY, NEW YORK CITY DEPARTMENT OF HEALTH AND MENTAL HYGIENE, OBAMACARE, OBESITY IN AMERICA, OCCUPY DC, OCCUPY WALL STREET, OFFICE OF THE TORTURER GENERAL, PASTOR CHARLES PHELPS, PASTOR JACK SCHAAP, PASTOR TERRY JONES, PAUL RYAN, POLITICS, POLITICS IN THE BUFF, PRESIDENT OBAMA, PROGRESSIVES ON THE MARCH, REALITY CHECK, RELIGIOUS RIGHT, RUSH LIMBAUGH, RUSSIAN ANTI-HOMOSEXUALITY LAWS, SANCTITY OF MARRIAGE, SARAH BLOCH OPINIONS, SARAH PALIN, SEX, TEA PARTY, TECTONIC SHIFTS, TED CRUZ, THE AMERICAN TALIBAN, THE BEST OF TERRAN TV, THE BEST OF THE WEB, THE BLAZE, THE CANCER OF HATE, THE CULTURE WARS, THE GOP GENDER GAP, THE GREATER FOOL, THE HELLAC BILL OF RIGHTS, THE IGNORANT TENTH, THE SKY IS FALLING, THE TRIBALISM REPORT, THE WAR ON THE ADULT ENTERTAINMENT INDUSTRY, THE WAR ON WOMEN, THEOCRACY, THINGS THAT MAKE CONSERVATIVES ANGRY, TIM WISE, TODD AKIN, TOO BIG TO FAIL, TWERKING, U.S. ECONOMY, UNREST IN AMERICA, VOTER SUPPRESSION, WE DON'T HAVE TO MAKE THIS SHIT UP, WE SEE YOU, WHITE PRIVILEGE, WINGNUT ROUNDUP, WOMEN'S RIGHTS with tags , , , on 16/04/2014 by sarahbloch

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I am currently reading John Nolte’s article on 11 reasons the Left has not won the Culture War at Breitbart.com. Simply reading this is making my day because I love to laugh in the morning. Millions of conservatives have likely read this today and more than a thousand have commented. Those comments will be covered by Fred Schwartz later in the day.

Nolte begins with same sex marriage which I see as a full faith and credit legal issue not a moral and religious one. I don’t think, however, that any shop owner has a right to refuse service to a gay couple anymore than they have the right to refuse service to a person based on their race, religion, gender or disability. The author feels that the “voice of the people” has been tossed out in favor of the rulings of “activist judges.” In a bizarre twist John Nolte points to a rise in “Christian entertainment” as proof that Americans really do not want people they do not know of the same sex to get married. The singular example is the film “Heaven is for Real” which has grossed nothing yet because the film is to be released today. Nolte’s point is that Sony TriStar Pictures has decided to release the film on a Wednesday in 2,417 theaters. This film and others like it are one point Nolte shows as proof that on the topic of same sex marriage the Right is winning. I will make a claim here: Heaven is for Real will not make more money between its premiere and the end of the box office weekend than “Transcendence” will make from its opening until Sunday night on a theater by theater basis.

The next Culture War issue is the legalization of marijuana. Both Washington state and Colorado have legalized the weed most notorious to conservatives and more states are moving to decriminalize small amounts. Most recently the state of Maryland did just that becoming the first state south of the Dixon-Line to decriminalize pot. Fourteen other states and the District of Columbia have also done so. Nolte does not address any of the medical reasons for pot use or even recreational ones as a justification for a victory here in the Culture war. Instead he states that abortion rights activists are on their heels quoting an article on Breitbart.com no less about a poll conducted by the Knights of Columbus regarding abortion rights. The Gallup Polling Service numbers show that those who view themselves as pro-Life vice those that are pro-Choice are nearly equal at 48% to 45%. The numbers of those seeing abortion as federally defined from the same poll vice those who do not believe abortion should be legal at all is 52% vice 20% as of May 2013. Nolte loses this battle as well.

Nolte sticks with entertainment decrying the amount of sex on television but reveling in what he calls the return of the masculine male on the National Geographic Channel. These shows according to the author “celebrate the working class and their traditional values.” What he really means is they celebrate being white, Christian and living in the woods or where it’s very cold. The next “reason” the Right is winning the Culture War is the ascendancy of Jimmy Fallon to the Tonight Show as a counter to Stephen Colbert stepping into David Letterman’s slot after his retirement next year. There is no rhyme or reason to this at all.

The next nugget reveals something about conservatives. They like strong male characters. Nolte point to Don Draper [Mad Men] Walter White [Breaking Bad] and Tony Soprano [The Sopranos] as examples of these. They are called “flawed” and “anti-heroes” and I imagine that takes the guilt away for all the nudity, sex, drugs and violence which conservative say they are against on TV.

More entertainment, really? Miley Cyrus is popular but unions are dying says Nolte. I fear conservatives may never come out of this irrational abyss. As if the weakness of unions in America is a good thing for those working class people they say they love?

Conservative media is on the upswing says Nolte. Well get back to me in 20 years when most Fox News viewers are either dead or senile or have slaughtered their family. There is a trend in there demographically if you just take the time to look.

Women are getting birth control but conservatives have their guns! This is awful. War on women much? The fear of the Other is oozing here.

Nolte sees more money in politics as a solution to what ails the Right politically. No John, the key would be to make your tent bigger. Oh, that’s right you can’t do that because you’d have to let in all those brown people, women and gay people on a level playing field.

Yes, Occupy is dead but given time the TEA Party will wither as well. I think the date on that tombstone will be somewhere around 1 February 2017.

What John Nolte needs is a time machine so he can return to that conservative era of his father the 1950s. Back then by conservative standards women were in their place (not barefoot and pregnant but seen and not heard), minorities were second class citizens and it was a crime to be gay. It must be awful for John Nolte to have to watch as all that unearned privilege is redistributed in the form of earned civil rights.

Qu’ul cuda praedex nihil

Sarah Bloch, D.S.V.J., J.F., O.Q.H [Jur.]
Amici Bax Demvolu Comnu
Politics & Culture Wars Managing Editor
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HOW PROGRESSIVES CAME TO ELECTORAL POWER IN AMERICA

Posted in BIGOTRY, BIRTHERISM, CHRISTIAN PERSECUTION IN AMERICA?, CIVIL RIGHTS, CLASS WARFARE, CONSERVATIVE ANTI-INTELLECTUALISM, CONSERVATIVE BIGOTRY, CONSERVATIVE FEAR, CONSERVATIVE HYPOCRISY, CONSERVATIVE IGNORANCE, CONSERVATIVE LIES, CONSERVATIVE NEWS, CONSERVATIVE RESISTANCE TO FACT CHECKING, DEATH PANELS, DEBT CEILING, DIVERSITY, DREAM ACT, FASCISM, FEARSPEAK, FRED SCHWARTZ OPINIONS, GLBTQ RIGHTS, GONZO JOURNALISM, GOP, GOP AS A MINORITY PARTY, GOP MELTDOWN, GOVERNMENT CORRUPTION, GUN VIOLENCE IN AMERICA, HOW HELL WORKS, HOW THE RIGHT SEES THE 47%, HUMAN BEAUTY, HUMAN BEINGS, HUMAN RIGHTS, HUNTER S THOMPSON, IN HINDSIGHT, JOURNALISM, JUSTICE, LAAL HETHRI, NAACP, OFFICE OF THE TORTURER GENERAL, PRESIDENT OBAMA, PRIEST SEXUAL ABUSE, PROGRESSIVES ON THE MARCH, RACE AND POLITICS IN AMERICA, REBUT BLOGSFORVICTORY, REVISIONIST HISTORY, SARAH PALIN, SCOTUS, SHERIFF JOE ARPAIO, TEA PARTY, THE CANCER OF HATE, THE CULTURE WARS, THE DEMOGRAPHICS FAVOR PROGRESSIVES, THE GOP GENDER GAP, THE GREATER FOOL, THE HELLAC BILL OF RIGHTS, THE IGNORANT TENTH, THE WAR ON WOMEN, THEOCRACY, THINGS THAT MAKE CONSERVATIVES ANGRY, WE DON'T HAVE TO MAKE THIS SHIT UP, WE SEE YOU, WELFARE REFORM, WELFARE REFORM LIES FROM THE RIGHT, WHITE LIKE ME, WHITE PRIVILEGE, WILLIAM J LOGAN JR, WOMEN'S RIGHTS, WORLD NET DAILY with tags , , on 26/01/2014 by Fredrick Schwartz, D.S.V.J., O.Q.H. [Journ.]

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Amazona there is a difference between taking a short cut to the Moral High Ground and actually looking out from the Moral High Ground. I’ll give you this point you are absolutely right that it is as simple as voting for Progressive or Liberal candidates to get your moral superiority biscuit. As a group Progressives do stand for good things. Being against poverty, torture, corruption, misogyny, bigotry, abuse aren’t simply things that Progressives are against though. Conservatives are also against many of these societal scourges.

This is where things get confusing and clearly why conservatives are tripped up and find themselves unpopular both electorally and in general. Progressives don’t require a purity test, a loyalty test, or a religious affiliation to walk into our tent. Conservatives with their messages about tax rates being too high should, on that issue alone, have had a way in to the minds of the moderates and independents out there but for some reason they have a social agenda that is more important to them than the economic agenda.

Issues like same sex marriage, abortion and immigration are where conservatives fail simply because their tent is not as inclusive. I’m not going to be so closed minded as to say that this is because of some grand bigoted conspiracy but it is what it is. Conservatives offer little to blacks, Latinos, members of the LGBTQ community, single mothers or the non religious. The coalition that has been built by conservatives since the fall of Nixon of working class whites in the rural West and South and a few upper middle class and wealthy whites who have an agenda driven by heredity and inheritance. This coalition had a majority during the Reagan era and had the Moral High Ground in the dying age of the Cold War. This coalition drove America forward to a conservative vision that likely thought that with political power would come the power to change society; to pull it back from the brink. At this point in Reagan’s second term no one would have imagined that 18 states and the District of Columbia would recognize the marriage rights of same sex couples.

And yet, thirty years later, here you are in an America that seems nearly alien to you. Looking up at people like me who are standing on top of the mountain of Morality. What happened? Is the question most of you are asking and that is the smartest question you can ask and it has an easy answer. Three decades ago, the Greatest Generation were the electoral force in America. They were more conservative than even you Amazona having never dabbled in the experimentation of the 1960s and 1970s with Liberalism as you have said you did. These men and women who were adults in the 1940s and 1950s were around your age now in the 1980s and Reagan was an ultimate relief to them. Hey were afraid the Greatest were that all of their hard work to secure freedom and liberty for the coming generations of THEIR CHILDREN was going to wasted by the creeping Socialism, Diversity and Depravity that they saw in Liberalism.

The answer is obvious what happened. Those from the Greatest Generation had children, the Baby Boomers, and those Boomers had children in the 1970s. Those Generation X children had children Generation Y, or the Millenials. Being born now to the Generation Y women are the Digital Natives of the information age or Gen Z kids. The easy answer to the question of what happened to fear of authoritarian religious, political or corporate power is the last generation that never questioned them has nearly died entirely and has been replaced with an ever more questioning set of grandchildren.

Those grandchildren continued the trend of questioning all authority that began in the 1960s into the new Millennium. I’ll be the first to admit that the War on Poverty was a failure because it simply threw money at a problem that could not be solved so simply. However, in that time the Greatest Generation still held sway on all matters social and the ground was not yet fertile for the sort of change that one sees today.

hindsight 2315
In Hindsight
On my side of the great political divide Progressives worry about the pendulum swinging back toward conservatism on a daily basis. Maybe the generation that will be born to young girls that are infants now in America in the 2030s and 2040s will hearken back to the nostalgic days of the 1940s and 1950s. Who knows? By the time they go to the polls for the first time they will live in an America so saturated in information both for the good and the bad that the messages that resonated with 21 year olds in 1945 will seem as archaic as silent movies do today.

Qu’ul cuda praedex nihil!

Fredrick Schwartz, D.S.V.J., CS, O.Q.H [Journ.]
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SARAH PALIN CAN SEE OBAMA’S IMPEACHMENT FROM HER HOUSE

Posted in DEBT CEILING, IMPEACHMENT, PRESIDENT OBAMA, SARAH PALIN with tags , , on 15/10/2013 by Majordomo Pain

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In two hundred seventy four words Sarah Palin sums up why the GOP is fracturing into a party of establishment Republicans, a vanguard minority of TEA Party radicals and moderates that may migrate into the Democratic Party:

Apparently the president thinks he can furlough reality when talking about the debt limit. To suggest that raising the debt limit doesn’t incur more debt is laughably absurd. The very reason why you raise the debt limit is so that you can incur more debt. Otherwise what’s the point?
It’s also shameful to see him scaremongering the markets with his talk of default. There is no way we can default if we follow the Constitution. The Fourteenth Amendment, Section 4, requires that we service our debt first. We currently collect more than enough tax revenue to service our debt if we do that first. However, we don’t have enough money to continue to finance our ever-growing federal government (with our $17 trillion dollar national debt that has increased over 50% since Obama took office). That’s why President Obama wants to increase the debt limit. He doesn’t want to make the tough decisions to rein in government spending. So, he’s scaremongering the markets about default, just as he tries to scaremonger our senior citizens about their Social Security, which, by the way, is funded by the Social Security Trust Fund and is solvent through 2038.
It’s time for the president to be honest with the American people for a change. Defaulting on our national debt is an impeachable offense, and any attempt by President Obama to unilaterally raise the debt limit without Congress is also an impeachable offense. A default would also be a shameful lack of leadership, just as mindlessly increasing our debt without trying to rein in spending is a betrayal of our children and grandchildren who will be stuck with the bill.

Sarah Palin has made a name for herself and a massive pile of wealth by doing just what she accuses the President of the United States of doing. Palin uses fear to convolute an already confusing issue for most Americans. We, Ourselves realize that there would be far reaching and potentially disastrous ramifications for the global economy if the United States Treasury would default on its debt on 17 October 2013. Clearly, Ms Palin does not understand the difference between debt and the debt ceiling. The United States debt ceiling comments made by President Obama are analyzed by Louis Jacobsen at PolitiFact:

Experts we spoke to agreed that Obama is on safe ground when he says that raising the debt ceiling “does not increase our debt. It does not grow our deficits.”
Obama is correct that the debt ceiling addresses debt, not spending — at least not directly. Raising the debt ceiling allows the United States government to borrow funds that cover the obligations the government has already incurred. It doesn’t by itself prompt any new spending: Congress and the president must separately sign off on any new federal spending commitments. Put simply, the United States has chosen to divorce spending and financing decisions.
The part where Obama is somewhat misleading is when he says that raising the debt ceiling “does not allow for a single dime of increased spending.” (We asked the White House for comment but didn’t hear back.)
In fact, raising the debt ceiling is a necessary condition for eventually raising spending without a default. Spending can only be raised in the future if the debt ceiling is raised (or if progress is made on paying down the existing debt, something that’s rarely happened in recent decades). Without a debt ceiling hike, Congress and the president would find their hands tied if they ever wanted to make any new financial commitments.
So, contrary to what Obama said, if the the debt ceiling is raised high enough, it does, in fact, “allow” for additional spending. It just doesn’t demand it.
“Clearly, raising the debt ceiling does not in and of itself increase the debt or grow the deficit,” said Steve Ellis, vice president of Taxpayers for Common Sense. “But to say that it doesn’t allow for a dime of increased spending is misleading. When the credit card company increases my credit limit, it doesn’t increase my debt load or even my spending. But it certainly facilitates it. The same is true with the debt ceiling.”
Satya Thallam, director of financial services policy with the the center-right American Action Forum, concurred, saying that while the debt ceiling has “little to do with the present,” it has “everything to do with future potentials.”
Thallam said the debt ceiling can be perceived as a prerequisite for future spending — though a better term, he said, may be “post-requisite.”
“It’s like signing a contract to purchase new furniture, and then going to your credit card company and asking for a credit limit increase to cover the amount,” he said. The debt ceiling “doesn’t lead to additional spending, but it does risk the possibility that you won’t be able to pay.”
Not that the threat of the debt ceiling has scared off Congress from spending in the past.
“Congress has passed budgets knowing that the borrowing to follow through on their budget commitments would exceed the debt ceiling,” said Tara Sinclair, a George Washington University economist. “I wish they treated it as a prerequisite, but instead they go ahead and spend and then find themselves at risk of defaulting on obligations. If they were limited by the debt ceiling in terms of planning the budget, then that would be different, but they appear not to be.”

The United States Treasury web site has this regarding the United States Debt Limit:

The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.
Failing to increase the debt limit would have catastrophic economic consequences. It would cause the government to default on its legal obligations – an unprecedented event in American history. That would precipitate another financial crisis and threaten the jobs and savings of everyday Americans – putting the United States right back in a deep economic hole, just as the country is recovering from the recent recession.
Congress has always acted when called upon to raise the debt limit. Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents. In the coming weeks, Congress must act to increase the debt limit. Congressional leaders in both parties have recognized that this is necessary. Recently, however, a number of myths about this issue have begun to surface.

The Congress, while it has the power to impeach a President for acting outside his constitutional authority, also bears the burden of assuring America does not default on her debt—not the President. In this again Ms Palin is offering misinformation simply for the purpose of maligning President Obama. Sarah Palin does not have anyone to hold her to account for these remarks on the Right because these nuggets of disinformation serve the greater purpose of making political action committee dollars flow from the pockets of people who are febrile with the desire to make a case that the 44th President is the worse one America has ever had.

Economist Barry Eichengreen notes in contrast to Palin the effect of a US economic settlement default:

But a default on US government debt precipitated by failure to raise the debt ceiling would be a very different kind of shock, with very different effects. In response to the subprime disruption and Lehman’s collapse, investors piled into US government bonds, because they offered safety and liquidity – prized attributes in a crisis. These are precisely the attributes that would be jeopardized by a default.
The presumption that US Treasury bonds are a safe source of income would be the first casualty of default. Even if the Treasury paid bondholders first – choosing to stiff, say, contractors or Social Security recipients – the idea that the US government always pays its bills would no longer be taken for granted. Holders of US Treasury bonds would begin to think twice. The impact on market liquidity would also be severe. Fedwire, the electronic network operated by the US Federal Reserve to transfer funds between financial institutions, is not set up to settle transactions in defaulted securities. So Fedwire would immediately freeze. The repo market, in which loans are provided against Treasury bonds, would also seize up.
For their part, mutual funds that are prohibited by covenant from holding defaulted securities would have to dump their Treasuries in a self-destructive fire sale. Money-market mutual funds, virtually without exception, would “break the buck,” allowing their shares to go to a discount. The impact would be many times more severe than when one money-market player, the Reserve Primary Fund, broke the buck in 2008.
Indeed, the entire commercial banking sector, which owns nearly $2 trillion in government-backed securities – would be threatened. Confidence in the banks rests on confidence in the Federal Deposit Insurance Corporation, which insures deposits. But it is not inconceivable that the FDIC would go bust if the value of the banks’ Treasury bonds cratered. The result would be a sharp drop in the dollar and catastrophic losses for US financial institutions. Beyond the immediate financial costs, the dollar’s global safe-haven status would be lost.

We, Ourselves, of the Collective are forced to wonder if Ms Plain is aware that there is such an organ as the Bank for International Settlements? To understand the metrics of how central banks settle their accounts is sine qua non to understanding the implications of a debt default by a sovereign nation. Sarah Palin could examine the troubles in Iceland in 2008-2011 and the implosion of the Somalian currency in the 1990s as examples of what steps can be taken by the International Monetary Fund and what takes place when no action of aid is taken internally or externally. None of these things matter to Palin for her goal is simply to make this about the 44th President of the United States failing the people she feels are the “true Americans.” This is why Sarah Palin can see the mirage of impeachment from her house.

Qu’ul cuda praedex nihil!

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