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2011
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August
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- Thank God! Kenny's Gonna Be Fine
- Barker's Newsbites: Wednesday, August 31, 2011
- Barker's Newsbites: Tuesday, August 30, 2011
- Barker's Newsbites: Monday, August 29, 2011
- Weekend Newsbites: Sat. & Sun., August 27 & 28, 2011
- Barker's Newsbites: Friday, August 26, 2011
- Barker's Newsbites: Thursday, August 25, 2011
- Barker's Newsbites: Wednesday, August 24, 2011
- Barker's Newsbites: August 23, 2011
- Barker's Newsbites: Monday, August 22, 2011
- Weekend Newsbites: Sat. & Sun., August 20 & 21, 2011
- Barker's Newsbites: Friday, August 19, 2011
- Barker's Newsbites: Thursday, August 18, 2011
- Barker's Newsbites: Wednesday, August 17, 2011
- I Despise Karl Rove With All My Heart and Soul
- Bushbama Crosses a Line - Taiwan is Betrayed
- Barker's Newsbites: Tuesday, August 16, 2011
- Barker's Newsbites: Monday, August 15, 2011
- Weekend Newsbites: Sat. & Sun., August 13 & 14, 2011
- Barker's Newsbites: Friday, August 12, 2011
- Thursday Night's Republican Debate
- Barker's Newsbites: Thursday, August 11, 2011
- John Boehner (and Mitch McConnell) Strike Again
- Barker's Newsbites: Wednesday, August 10, 2011
- Barker's Newsbites: Tuesday, August 9, 2011
- Update re: Bill Barker "vs." Dr. Nan Hayworth (R-N...
- Barker's Newsbites: Monday, August 8, 2011
- Weekend Newsbites: Sat. & Sun., Aug. 6 & 7, 2011
- Barker's Newsbites: Friday, August 5, 2011
- Barker's Newsbites: Thursday, August 4, 2011
- Barker's Newsbites: Wednesday, August 3, 2011
- As for Republican Senators re: The Boehner-McConne...
- Dow Drops 265 Points After "Successful" Deal
- House Vote 690 - Sixty-Six Votes Too Little Too Late
- Barker's Newsbites: Tuesday, August 2, 2011
- Barker's Newsbites: Monday, August 1, 2011
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August
(36)
About Me
- William R. Barker
- Pearl River, NY High School Class of '81; Northeastern University, Boston, MA Class of '87.
12 comments:
http://ca.news.yahoo.com/payrolls-awaited-markets-fear-recession-041036073.html
The unemployment rate dipped to 9.1% from 9.2% in June, mostly the result of people leaving the labor force.
(*SNORT*)
* "MOSTLY," HUH?
(*JUST SHAKING MY HEAD*)
* LET'S RECAP, FOLKS: THE UNEMPLOYMENT RATE WENT DOWN ONE-TENTH OF ONE PERCENT BECAUSE OF...
(*DRUM ROLL*)
* WAIT FOR IT... WAIT FOR IT..
...people leaving the labor force.
...people leaving the labor force.
...people leaving the labor force.
...people leaving the labor force.
...people leaving the labor force.
...people leaving the labor force.
...people leaving the labor force.
...people leaving the labor force.
* AND THE OBAMA RECOVERY CONTINUES TO ROAR...
(*SIGH*)
http://hosted.ap.org/dynamic/stories/U/US_CREDIT_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-08-04-17-26-23
Prices for Treasury securities jumped Thursday, sending the yield on the two-year note to a record low...
* HMM... DON'T TWO-YEAR TREASURIES COME DUE IN... er... TWO YEARS...?
* FOLKS... UNDERSTAND... THE FEDS ARE TAKING ON MORE DEBT - AT LOW INTEREST TODAY - BUT THESE ARE NOT LONG TERM LOANS! PLUS... THE MONEY IS NOT BEING USED TO PURCHASE ASSETS (LIKE WHEN YOU OR I BUY A CAR OR A HOME) BUT RATHER THEY'RE BEING USED TO FINANCE NORMAL OPERATING EXPENSES!
The U.S. economy grew at an annual rate of just 0.4% in the first three months of the year, according to revised figures released last week. Manufacturing grew in July at the weakest pace since 2009. And economists expect Friday's jobs report to show the unemployment rate remained stuck at 9.2% last month.
* AHH...! BUT WE KNOW IT DIDN'T "REMAIN STUCK" AT 9.2%! WE KNOW THE UNEMPLOYMENT RATE ACTUALLY DECLINED TO 9.1%!
* AND TO RECAP... WHAT PHENOMENON RESPONSIBLE FOR THE UNEMPLOYMENT RATE GOING DOWN...? THAT'S RIGHT: PEOPLE LEAVING THE WORKFORCE!
(*MASSIVE F--KING MIGRAINE HEADACHE*)
http://money.cnn.com/2011/08/04/pf/food_stamps_record_high/index.htm?iid=HP_River
Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.
* OH, YEAH! ANOTHER SIGN OF THE "OBAMA RECOVERY."
The number of Americans using the government's Supplemental Nutrition Assistance Program (SNAP) - more commonly referred to as food stamps - shot to an all-time high of 45.8 million in May, the USDA reported. That's up 12% from a year ago, and 34% higher than two years ago.
* HMM... TWO YEARS AGO... 2009... (*PONDERING*)... HEY! AIN'T THAT THE YEAR OBAMA BECAME PRESIDENT...?!?!
To qualify for food stamps, an individual's income can't exceed $1,174 a month or $14,088 a year - an amount that is 130% of the national poverty level.
* NOTICE, FOLKS... (AND THIS IS VERY IMPORTANT!)... NOTICE HOW THEY USE "AN INDIVIDUAL'S INCOME" AS OPPOSED TO THE TRUE GAUGE - FAMILY INCOME AS... er... LINKED TO HOW MANY MEMBERS THERE ARE IN A FAMILY - HOW MANY CHILDREN IN A FAMILY.
* INDEED FOLKS, HERE'S THE NEXT PARAGRAPH OF THE STORY:
The average food stamp benefit was $133.80 per person and $283.65 per household in May.
* AHH....! NOTICE HOW WHEN YOU FACTOR IN "HOUSEHOLD" THE BENEFITS MORE THAN DOUBLE...?!?!
The highest concentration of food stamp users were in California, Florida, New York and Texas...
* YA KNOW... THE "RULES" SAY THAT ILLEGAL ALIENS CAN'T GET FOOD STAMPS... BUT... WHEN THE ILLEGAL HAS AN ANCHOR BABY... OR TWO... OR THREE... OR FOUR...
(*SIGH*)
* THE PARENTS GET BENEFITS VIA THEIR AMERICAN BORN (THUS AMERICAN CITIZEN) CHILDREN.
[A] spike in food stamp users in Alabama may have been responsible for pushing total usage unusually higher in May. Following a series of devastating storms, many residents received disaster assistance under the Disaster Supplemental Nutrition Assistance Program, the USDA said. Food stamp use in the state surged from 868,813 in April to 1,762,481 in May.
"USDA does not anticipate that trend of increase to continue, given that it appears to represent a response to a single disaster," the USDA said.
* VERY... er... COMFORTING.
(*SNICKER*)
http://www.myfoxphilly.com/dpp/news/local_news/video-shows-dramatic-septa-bus-shootinghttp://www.myfoxphilly.com/dpp/news/local_news/video-shows-dramatic-septa-bus-shooting
Four people will head to trial after Penny Chapman, allegedly upset that another passenger criticized her for spanking her child, called and asked for acquaintances to shoot at the passenger when the bus got to her stop.
* OH, YEAH, FOLKS...! THIS IS PHILLY... NO "BEATING UP"... NAH... STRAIGHT TO SHOOTING!
Chapman was on the Route 47 Septa bus heading north on 7th Street. The video shows her son running up and down the aisle. Finally she grabs the squirming child, and appears to slap him. A man sitting behind her doesn't like what he sees, so he threatens to turn her in for child abuse.
* SOUNDS LIKE AN A$$HOLE... HOWEVER...
Chapman then made a phone call, prosecutors said. Minutes later, she got off the back door of the bus. Prosecutors say the boy's uncle, Angel Lecourt, is waiting for them outside. Lecourt helps them off, and then holds the door for brothers Karon and Raheen Patterson, who start firing into the bus with a large assault rifle and a handgun.
* THIS IS AMERICA 2011 - THE AGE OF OBAMA! CIVILIZATION IS LITERALLY COLLAPSING IN AREAS THROUGHOUT THE NATION.
The bus was carrying 10 to 15 passengers at the time of the shooting.
The trial starts on August 26th.
* THINK THE MEDIA WILL FOCUS ON THE TRIAL AND THE OUTCOME? (*SHRUG*)
http://www.wisn.com/r/28774396/detail.html
* MILWAUKEE, WISCONSIN
Local law enforcement agencies are investigating several incidents near State Fair Park late Thursday night.
* "INCIDENTS..." (*SNORT*)
Milwaukee police said that around 11:10 p.m., squads were sent to the area...
* "SQUADS...!!!"
...for reports of battery, fighting and property damage being caused by an unruly crowd of "hundreds" of people. One officer described it as a "mob beating."
* HUNDREDS OF... WHAT SORT OF "PEOPLE?" (*SMIRK*)
* FOLKS... GOOGLE THIS "INCIDENT." THE CRIMINALS - THE ANIMALS - WERE APPARENTLY OVERWHELMINGLY BLACK "YOUTHS" TARGETING WHITE FAIRGOERS.
Police said the group of young people attacked fairgoers...
* "YOUNG PEOPLE."
* FOLKS... WE'RE LOSING OUR COUNTRY AND THE MEDIA ARE ACTIVE PARTICIPANTS IN HIDING THE TRUTH OF WHAT'S GOING ON FROM THE AMERICAN PEOPLE.
Police said the group of young people attacked fairgoers who were leaving the fair grounds. Police said that some victims were attacked while walking. They said others were pulled out of cars and off of motorcycles before being beaten.
* JEEZUS, FOLKS... NORMAL PEOPLE LIKE US GO TO STATE FAIRS. GRANDPARENTS GO! CHILDREN GO! BABIES AND TODDLERS ARE BROUGHT TO STATE FAIRS! THIS ISN'T AKIN TO BEING IN A "BAD PART OF TOWN" LATE AT NIGHT AND BEING MUGGED. THIS IS AN ASSAULT UPON CIVILIZATION!
Milwaukee police said at least seven people were taken to area hospitals with non-life-threatening injuries. They said that number could go up as other responding agencies release information.
(*JUST SHAKING MY HEAD*)
* FOLKS... ARM YOURSELVES... IF YOU CAN, GET A CARRY PERMIT...
Milwaukee police said nobody was in custody early Friday morning.
* ALLOW ME TO REPEAT THAT:
Milwaukee police said nobody was in custody early Friday morning.
* ONE MORE TIME...
Milwaukee police said nobody was in custody early Friday morning.
West Allis police had no comment early Friday morning. A supervisor said information will be released during normal business hours on Friday. A State Fair spokesperson told 12 News that several people were arrested earlier in the day on Thursday, for disorderly conduct near the Midway.
(*SMIRK*)
http://www.cnbc.com/id/44033486
As is usually the case, there is far more than meets the eye to the Labor Department’s report that the economy "added" 117,000 jobs last month and the unemployment rate fell to 9.1%.
(*SADLY NODDING*)
Let’s start with the reality that fewer people actually were working in July than in June.
(*LITERALLY FEELING QUEASY*)
According to a Bureau of Labor Statistics breakdown, there were 139,296,000 people working in July, compared to 139,334,000 the month before, or a drop of 38,000.
* AGAIN... TO REITERATE... THERE WERE 38,000 FEWER AMERICANS WORKING IN JULY THAN HAD BEEN EMPLOYED IN JUNE...!!!
(*BANGING MY HEAD AGAINST THE DESK IN FRUSTRATION*)
But the job creation number was positive and the unemployment rate went down, right? So how does that work?
* GOOD QUESTION, HUH?!
It’s a product of something the government calls “discouraged workers,” or those who were unemployed but not out looking for work during the reporting period. This is where the numbers showed a really big spike - up from 982,000 to 1.119 million, a difference of 137,000 or a 14% increase.
These folks are generally not included in the government’s various job measures.
* NO... (*SMIRK*)... OF COURSE NOT... (*SNICKER*)
So the drop in the unemployment rate is fairly illusory - stick all those people back in the workforce and you wipe out the job creation and the drop in unemployment.
* HEY... FOLKS... JUST ANOTHER POINT: LET'S SAY YOU'RE UNEMPLOYED AND COLLECTING UNEMPLOYMENT INSURANCE. OBVIOUSLY YOU'RE COUNTED AS UNEMPLOYED - RIGHT? (RIGHT!) BUT GUESS HOW ONE IS COUNTED ONCE ONE IS NO LONGER RECEIVING UNEMPLOYMENT INSURANCE... ONCE ONE'S BENEFITS HAVE RUN OUT... REGARDLESS OF WHETHER THIS PERSON HAS FOUND A JOB...
(*SIGH*)
* FOLKS... THIS AIN'T ROCKET SCIENCE... GOVERNMENT STATS ARE SUPPOSED TO BE MISLEADING...!!!
* OH... BUT IT GETS WORSE... (KEEP READING!)
For once, some of the government’s other tools of economic voodoo didn’t help the count. The vaunted birth-death model, a byzantine approximation of business creation and failure, actually subtracted 18,000 from the total job creation after a five-month run where it added a total of 741,000 positions to the count. And the so-called “real” unemployment rate, which adds in discouraged workers and others not counted as part of the headline unemployment rate, actually pulled back one notch to 16.1%.
* THERE'S MORE...
The average duration of unemployment rose for the third straight month and is now at a record 40.4 weeks - about 10 months and now double where it was when President Obama took office in January 2009.
(*PURSED LIPS*)
The total number unemployed for more than half a year now stands at 6.18 million, 130% higher than when the president’s term began.
(*GRITTING MY TEETH*)
Including teachers and others who experience seasonal unemployment, total joblessness actually rose 1.23 million.
http://www.cnbc.com/id/44032122/
Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009.
(*BANGING MY HEAD AGAINST THE DESK*)
The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion...
(*CONTINUING TO BANG MY HEAD AGAINST THE DESK*)
Since the firm was seized by the U.S. Treasury in 2008, it has needed about $104 billion in government capital injections, although it has paid back about $14.7 billion in dividends.
The $5.2 billion loss attributable to shareholders follows a loss of $8.7 billion in the first quarter and compares with a loss of $3.125 billion in the second quarter of 2010.
(*SARCASTIC CLAP-CLAP-CLAP*)
* CHANT IT WITH ME, FOLKS: BAR-NEY FRANKS! BAR-NEY FRANKS! BAR-NEY FRANKS! BAR-NEY FRANKS! BAR-NEY FRANKS!
[Fannie Mae] has now recognized $130 billion of losses on its book of loans made between 2005 and 2008.
Fannie Mae realized credit losses, including net charge-offs plus foreclosed property expenses, of $3.9 billion in the second quarter, compared with $5.7 billion in the first quarter. The company also recognized a $1.6 billion loss in net fair value, mostly from its derivatives due to lower interest rates, after a first-quarter gain in net fair value of $289 million.
(*HEADACHE*)
Freddie Mac is expected to report its second-quarter results early next week. It posted a first-quarter loss of just under $1 billion, though it did not seek any new money from the Treasury.
To stay solvent, the two firms together have needed about $169 billion in taxpayer bailout funds, including Fannie Mae's latest request. Their net capital draw has been about $143 billion after paying back dividends.
* TWO-PARTER... (Part 1 of 2)
http://www.humanevents.com/article.php?id=45328
* BY PATRICK J. BUCHANAN
The Republican Party is a stool that stands on three legs: social conservatives, economic conservatives and foreign policy conservatives.
Yet since Ronald Reagan departed and George W. Bush arrived, that coalition has been under a growing strain that may yet pull it apart and redefine what conservatism means in 21st century America.
Is a free-trade globalism that saw America lose 57,000 factories and 6 million manufacturing jobs in the last decade conservatism?
* NO. NO IT'S NOT!
Was invading Iraq, which never threatened us, consistent with conservatism?
* YES AND NO... (IF ANYONE WANTS TO KNOW WHAT I MEAN BY THAT ALL YOU HAVE TO DO IS ASK.)
Was a decade of nation-building in Afghanistan something Reagan would have pursued?
* NOPE.
These neo-imperial wars would have bewildered our founding fathers.
* MOST OF THEM - YEP.
A new clash is ahead that seems fated to split the right into fiscal hawks versus security hawks. It was scheduled for early 2012 by the debt-ceiling deal forced on Barack Obama by Tea Party Republicans.
* BUCHANAN'S TALKING ABOUT THE COMING CLASH CONCERNING "DEFENSE" CUTS.
That deal cuts spending $900 billion in 10 years, with defense cuts coming in at $400 billion. The Pentagon is already at work.
* NOTHING IS BEING CUT. BUCHANAN IS WRONG. WHAT HE'S CONFUSING WITH ACTUAL CUTS IS THE PROMISED "CUTS" IN ALREADY FACTORED IN AUTOMATIC BUDGET INCREASES!
* STILL... BUCHANAN'S POINT IS CORRECT; MISGUIDED INDIVIDUALS WITHIN THE "CONSERVATIVE" TENT WILL PROVIDE KNEE-JERK OPPOSITION TO ANY AND ALL TRIMMING OF "DEFENSE."
Beyond that, if the new bipartisan, bicameral deficit-and-debt-reduction super-committee of 12 fails to come up with $1.5 trillion in added spending cuts and/or tax revenues, Congress must vote in 2012 to achieve $1.2 trillion in cuts. And half of that, $600 billion, must come out of defense.
* AGAIN, FOLKS, PUT ASIDE BUCHANAN'S INCORRECT (YET UNFORTUNATELY "ACCEPTED") MISUSE OF THE TERM "CUTS," HIS POINT IS THAT A LARGE PERCENTAGE OF "OUR" BASE - THE CONSERVATIVE BASE - WILL INSTINCTIVELY OPPOSE FINANCIAL CONSTRAINTS UPON THE PENTAGON.
[P]rojected deficits are so huge that a downgrade of the U.S. debt rating and eventual default, even if done through inflation and depreciation of the dollar, seem certain.
* IS CERTAIN!
Thus, fiscal reality is about to force upon the neocons and national security Republicans like John McCain decisions they have been avoiding since the Cold War.
(*NOD*)
* To be continued...
* CONCLUDING... (Part 2 of 2)
As far back as the 1950s, John Foster Dulles was recommending an "agonizing reappraisal" of all U.S. alliances.
Dwight Eisenhower urged JFK to withdraw U.S. troops from Europe and let Europeans take over primary responsibility for their own defense.
Gen. Douglas MacArthur told JFK not to put his foot soldiers into Southeast Asia.
President Nixon said that in future Asian wars, Asian boys, not American boys, must carry the burden of ground fighting.
Robert Gates said on his departure that any future defense secretary who pushed his president to fight another Asian war ought to have his head examined.
* THE POINT BEING... (*SIGH*)... OUR "ALLIANCES" ARE BANKRUPTING US - IN TREASURE...IN BLOOD... IN GOODWILL.
But if the Pentagon budget is to be cut, how and where do we cut?
* PAT MEANS "WHEN" THE PENTAGON BUDGET IS CUT.
Wisdom in making these decisions may be found in the Kennedy commitment of 1960 that Reagan copied into the book of notes he kept in his Oval Office desk. Kennedy demanded that in defense America remain first - not first when or first if - but first period.
(*THUMBS UP*)
Rather than slash weapons systems or R&D, the United States should begin by ending our three-and-a-half wars, terminating treaties to go to war for nations having nothing to do with U.S. vital interests, closing bases abroad, bringing troops home and staying out of unnecessary wars.
* SOUNDS FRIGG'N GOOD TO ME...!!!
Why are we still committed to defending two dozen nations in Europe when the threat that took us there 60 years ago, the huge Red Army on the Elbe, went home 20 years ago?
* GOOD FRIGG'N QUESTION, HUH...?!?!
Why are thousands of U.S. troops on the Korean DMZ when South Korea has twice the population and 40 times the economy of the North?
(*BANGING MY HEAD AGAINST THE DESK*)
Why are Marines still in Okinawa, two-thirds of a century after their grandfathers invaded the island?
* LISTEN... YES WE NEED CERTAIN BASES ABROAD FOR POWER PROJECTION; WE CAN'T SIMPLY DEPEND UPON NAVAL SHIPS AT SEA AND PLANES RELIANT UPON MID-AIR REFUELING, YET... WE HAVE FAR, FAR, FAR TOO MANY BASES ABROAD AND TOO MANY FOREIGN COMMITMENTS THAT HAVE LITTLE IF ANYTHING TO DO WITH OUR DIRECT (OR EVEN VITAL INDIRECT) NATIONAL INTERESTS.
Bring them home, and put them on the Mexican border, for that is where the future of this republic is going to be decided.
(*HIGH FIVE TO PAT BUCHANAN*)
http://www.france24.com/en/20110805-china-says-debt-financing-unlikely-save-us-eu
China said Friday that debt deals in the United States and in Europe would not be enough to save their economies and "concrete steps" must be taken to rebalance the global economy.
"The only way the Americans have come up with to improve economic growth has been to take on new loans to repay the old ones," a blistering commentary published on the official Xinhua news agency said.
* GOD HELP US... THE CHI-COMS ARE RIGHT!
"To eat May's grain in April, however, will never be a permanent solution to a problem," the report said.
(*NOD*)
China warned on Wednesday that Washington's efforts to raise the US limit on borrowing had failed to defuse America's "debt bomb" and signalled that Beijing would further diversify its holdings away from the dollar.
* HELL... I CAN'T SAY I BLAME 'EM.
"The United States has long been maintaining economic growth and excessive consumption by means of debt financing, hence masses of economic bubbles, which eventually triggered the financial crisis," the commentary said.
* WELL... YEAH...
The commentary also took aim at the European Union, whose members recently constructed a deal to stave off a sovereign debt crisis in Greece in fear that it would be a harbinger to a wider and deeper credit malaise in the eurozone.
"The current bailouts offered by international bodies such as the EU are in a sense, to 'rob Peter to pay Paul'," it said.
* AGAIN... (*SIGH*)... KINDA SCARY WHEN THE CHI-COMS HAVE A BETTER GRASP ON COMMON SENSE ECONOMICS AND RESPONSIBLE FINANCIAL MANAGEMENT THAN... OH... MOST OF THE WESTERN WORLD!
http://news.yahoo.com/us-postal-warns-could-default-222059604.html
The U.S. Postal Service warned on Friday that it could default on payments it owes the federal government...
* O-BAM-A! O-BAM-A! O-BAM-A!
The government's mail service said it lost $3.1 billion in the period from April to June...
* WHAT'S A BILLION-PLUS A MONTH BETWEEN FRIENDS, HUH?!
As a result of its mounting losses, the U.S. Postal Service said it would not be able to make a legally required $5.5 billion payment in September to a health-benefits trust fund.
* SERIOUSLY, FOLKS... ALL WISEASS COMMENTARY ASIDE... THIS ISN'T OBAMA'S FAULT PER SE. THE POST OFFICE HAS BEEN BLEEDING RED INK FOR... OH... I'D HAVE TO DO THE RESEARCH, BUT IT'S A LONG DAMN TIME! AND REALLY, IT'S CONGRESS WHICH IS TO BLAME - BOTH REPUBLICAN CONGRESSES AND DEMOCRATIC CONGRESSES - FOR REFUSING TO ALLOW THE POST OFFICE TO MAKE THE REFORMS NECESSARY TO REVERSE THIS NEEDLESS AND TRAGIC DESCENT INTO THE FISCAL ABYSS.
"Absent substantial legislative change, the Postal Service will be forced to default on payments to the federal government," it said in a statement.
* WHEN YOU REALLY THINK ABOUT IT, FOLKS... REALLY TRULY POINT THE FINGER OF BLAME WHERE IT LIES... SUCCESSIVE CONGRESSES (AS WELL AS PRESIDENTS) HAVE A LOT TO ANSWER FOR... AND YET... BY AND LARGE... THEY'RE NEVER TRULY CALLED TO ACCOUNT.
http://www.washingtonpost.com/business/economy/sandp-considering-first-downgrade-of-us-credit-rating/2011/08/05/gIQAqKeIxI_print.html
Standard & Poor’s announced Friday night that it has downgraded the United States credit rating...lowering the nation’s rating one-notch below AAA...
* GREAT JOB, MR. PRESIDENT! MR. REID... MR. BOEHNER... MS. PELOSI... MR. MCCONNELL...
It said the bi-partisan agreement reached this week to find $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would have no luck achieving more savings later on.
* YOU FOLKS ALL KNOW HOW BADLY I HATE THE REPUBLICAN ESTABLISHMENT AND WOULD LIKE TO SEE THEM PUNISHED FOR THEIR COWARDNESS, LIES, AND INCOMPETENCE, BUT UNLESS REPUBLICANS ARE GIVEN UNAMBIGUOUS CONTROL OF BOTH HOUSES OF CONGRESS AND THE PRESIDENCY AS A RESULT OF NEXT YEAR'S ELECTION... IT'S OVER.
* ONLY A MAJOR REVERSAL OF PELOSI/REID/OBAMA POLICIES CAN HOPE TO SAVE OUR COUNTRY.
* UNDERSTAND, FOLKS... THE LEFT HAS ADVANCED POLICIES WHICH MADE TODAY'S ACTION BY STANDARD & POOR'S UNAVOIDABLE. AS BEST I CAN SURMISE, THE GOAL OF THE AMERICAN LEFT IS TO "BREAK" CAPITALISM... TO "BREAK" OUR MARKET ECONOMY... (*SHRUG*)... IN ORDER TO ACHIEVE A "CHANGE" TO AN OUT AND OUT WELFARE STATE ALONG THE LINES OF THE FAILED EUROPEAN MODEL.
Analysts say that, over time, the downgrade is likely to push up borrowing costs for the U.S. government, costing taxpayers tens of billions of dollars a year. It could also drive up costs for borrowing for consumers and companies seeking mortgages, credit cards and business loans. A downgrade could also have a cascading series of effects on states and localities, including nearly all of those in the Washington metro area. These governments could lose their AAA credit ratings as well, potentially raising the cost of borrowing for schools, roads and parks.
* MY FRIENDS, I STILL BELIEVE THAT IT WAS NECESSARY TO TURN OUT OF OFFICE THE CORRUPT RINO CONGRESSES OF 2001-2006, BUT WHAT A PRICE WE'VE PAID FOR DOING WHAT HAD TO BE DONE. TWO YEARS OF A DEMOCRAT-CONTROLLED CONGRESS UNDER RINO BUSH FOLLOWED BY TWO MORE YEARS OF A DEMOCRAT-CONTROLLED CONGRESS UNDER BARAK HUSSEIN OBAMA AND NOW WE'RE STUCK WITH OBAMA & BIDEN WITH REID IN CONTROL OF THE SENATE TILL (AT THE EARLIEST) JANUARY 2013.
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