GOP Manifesto: A Big Fat Zero
The Market Ticker ® - Commentary on The Capital Markets
Posted 2010-09-22 19:29
by Karl Denninger
in Politics
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GOP Manifesto: A Big Fat Zero
 

Well, it's out....

GOP Pledge to America

Nice words. 

Great preamble.

Great pledge, for example, to the 10th Amendment.  Ok, so this means that the National Firearms Act, The Department of Education, Social Security, Medicare and all the rest will be offered as bills to repeal all of the above - and lots more - the day after the new Congress convenes?

Oh, I doubt it.

Actually, I don't doubt it, I know it's BS.  It didn't take 'em more than a couple of pages to....

With common-sense exceptions for seniors, veterans, and our troops, we will roll back government spending to pre-stimulus, pre-bailout levels, saving us at least $100 billion in the first year alone and putting us on a path to balance the budget and pay down the debt. We will also establish strict budget caps to limit federal spending from this point forward.

Ah, so the biggest budget-buster of them all, Medicare Part D, will remain untouched.  For that matter so will Social Security and Medicare generally.

Remember my previous Ticker on this point?  Well there you go.  The GOP ignores the elephant in the room.  Entirely.

The centerpiece of the GOP plan?  Getting rid of the $600 1099 requirement (good, but of little fiscal impact) and cutting more taxes.  Ok, how about spending?  Specifically, entitlement spending?

They claim to be intending to "stop out-of-control spending"?  Note:

Over the past three years, non-security discretionary spending (the spending that is approved each year by Congress outside of the Department of Defense, Department of Homeland Security, and Department of Veterans Affairs) has increased a staggering 88 percent. As a result, we now borrow 41 cents of every dollar we spend, much of it from foreign countries, including China, and leave the bill to our kids and grandkids.

Uh, true on the increase in spending.  False on the problem.  As noted, all Federal taxation is currently going to entitlements, with nothing left over.  You can't address this without cutting those entitlements.  The GOP knows this, and then intentionally ignores it.

Cut Government Spending to Pre-Stimulus, Pre-Bailout Levels: With common-sense exceptions for seniors, veterans, and our troops, we will roll back government spending to pre-stimulus, pre-bailout levels, saving us at least $100 billion in the first year alone and putting us on a path to begin paying down the debt, balancing the budget, and ending the spending spree in Washington that threatens our children’s future.

Wow, $100 billion! 

WE ARE MORE THAN $1.3 TRILLION, OR THIRTEEN TIMES, THAT LEVEL IN THE HOLE EVERY YEAR!  This plan means NOTHING in terms of addressing the ACTUAL PROBLEM.

Getting rid of Obama-Care is a good start.  Now where is the discussion about the points in my Health Care plan that would actually provide competition?  Missing, that's where.  Why?  Duh.  Oh sure, opening insurance across state lines is good.  Not forcing companies to bill the same amount to everyone isn't, nor is allowing cost-shifting of the uninsured to those who are insured.  You can't fix the problem until you take on those two issues.  Period.

Much of the rest sounds good.

But the plan is long on rhetoric and damn short on substance.  Further, it contains lies right up front - a claim that the 10th Amendment will be respected, for instance. 

If the GOP meant that, I'd be behind it 100%. 

But if they meant it then 80% of what The Federal Government does today would be declared unconstitutional tomorrow, from the Brady Act to the National Firearms Act to drug prohibition to the Departments of Agriculture and Education, Social Security, Medicare, Medicaid, SCHIP and more.

My retort to the GOP: STOP LYING.

Discussion below (registration required to post)
 

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User Info GOP Manifesto: A Big Fat Zero in forum [Market-Ticker]
Captainkidd
Posts: 594
Incept: 2010-05-25
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Pasadena, Texas
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Republican..... Democrat.....

It's the same bunch of guys in different colored suits.

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A lawyer with a briefcase can steal more than a thousand men with guns. --Mario Puzo

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -- Henry Ford
Village-idjit
Posts: 490
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B'ham WA
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Gen, thanks for the excellent ticker! I have been paying close attention to the political ads in my neck of the woods (NW USA), and NO ONE is mentioning the need to cut back the entitlements! You are exactly right, they are straining out a gnat and swallowing a camel. The local candidates are all sounding good... talking about reducing spending and balancing the budget, but as the math and Obama's plain words show, ALL of our current income at the federal level merely meets the entitlement expenditures. I do like some of the proposals but wish there were more rock solid solutions proposed by this Manifesto.

Reason: sp
Salt
Posts: 192
Incept: 2010-05-28

NC
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I found one part quite interesting, -

"We will require each bill moving through Congress to include a clause citing the specific constitutional authority upon which the bill is justified."

Perhaps "the National Firearms Act, The Department of Education, Social Security, Medicare and all the rest" can also be called on the carpet.

It took us 60+ years of indoctrination to get where we are and if the GOP were to state that it would dismantle all the crapola overnight the electorate would run scared.

Now I'm not holding my breath but, a blind squirrel can find an acorn every once in a while. Then again, the blind squirrel probably got off'd a long time ago.
Seriousslacker
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Spinning Clockwise or Counter Clockwise?
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What politician doesn't say they are going to control government spending and balance the budget. What you never here is - I'm going to not only balance the budget, but create a surplus, so that when times are tough we have some savings to draw on. Never happen!

We will not have a balanced budget until we are forced to by some sort of climactic event. Or we might have a "budget" that is balanced, but reality will somehow turn it into deficit spending. Something is wrong with the current "unaccountability" system.
Glennb6
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2 steps forward, 1 step backward.

Scrood
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No thanks, GOP.

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CTRL-GALT-DELETE
Docj
Posts: 1000
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Sigh - I wish we had time for "baby steps" in the right direction like this "Pledge". It took us a damn long time - 4-5 generations, actually, of total control of the media and academia at every level - to get to this point and we don't have anything close to that time left before this all goes to ****.

The GOP just don't get that. Unfortunately.

And thus the (perhaps) last hope for a political solution to this looming catastrophe goes wanting.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Glennb6
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Does it mention the Fair tax anywhere ?

woops no.
Glennb6
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DocJ

I was poking fun at Dems 2 steps forward Reps 1 back, repeat
Sqmo
Posts: 919
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It really isn't a Pledge, it is a "campaign promise." (meant to be broken)
Scrood
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HFP = High Frequency Politicking

Less Politicking and More Leadership, please!
How about a bold plan for once?

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Glennb6
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the more I think about this the more it's like McCain vs Zero - more or less screwed either way.

Good grief, they don't get it - they really don't, so we are rather doomed.
Docj
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I got that, Glenn. It's just that I'm really not at all interested in going where the Dems are marching us, if you know what I mean.

Forward? No thanks. I'm interested in an "about face", "DOUBLE TIME!! MARCH!" scenario. Still holding out (naive) hope it could be done politically - alas and alack, it would seem not to so be.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Vfl
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Seattle Metro, WA
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A simple solution to tell Congress who is the real boss:

Vote all incumbents out!!

or else, Bentover.
Etz
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The following words appear exactly zero times in that pledge: fraud, banks, corruption, prosecute.

You hear that pigmen? smiley


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Jander
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When the entitlement class becomes the majority, I dont think it's wise to run a campaign bent on ending entitlements. If there are 2 choices, which there are, and you all keep complaining about the republicans, well lets just keep on keepin on with what we got, eh?

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Lordhumongous
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Bunch of ****ing clowns.
Geschrei
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Docj wrote..
Sigh - I wish we had time for "baby steps" in the right direction like this "Pledge". It took us a damn long time - 4-5 generations, actually, of total control of the media and academia at every level - to get to this point and we don't have anything close to that time left before this all goes to ****.

Actually, Doc, the GOP did make that 'baby step' 16 years ago - with the Contract With America: http://www.house.gov/house/Contract/CONT....

Unfortunately, rather than building on their successes, the GOP decided to spend every nickel of their political capital buying a semen-stained dress.

After drafting the blueprint for potentially setting the nation on the right path, the architects used it as bathroom tissue. Soon it was back to business as usual again, which is what ultimately brings us to where we are now.

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“The danger is not that a particular class is unfit to govern. Every class is unfit to govern.”

Lord Acton (1834 - 1902)

Mrgone
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Personally, I don't get it. Did anyone here actually expect anything to change? Are you kidding?

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“The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
- Leo Tolstoy
Docj
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Quote:
Unfortunately, rather than building on their successes, the GOP decided to spend every nickel of their political capital buying a semen-stained dress.


That's a fair point, Ges. Indeed, talk about an opportunity wasted. Could have made a difference.

But the nit I'd pick is that it wasn't the Blue Dress - it was the ancient War Hero - that did them in.

Quote:
Personally, I don't get it. Did anyone here actually expect anything to change? Are you kidding?


Can only speak for myself - call me a naive coward for wanting to avoid a total collapse of society but I'd like to continue to hold out hope the ship can be righted by political means.

But no, I pretty much expected this underwhelming pile of turd from The Stupid Party.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams

Reason: Added response
Geschrei
Posts: 473
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Docj wrote..
But the nit I'd pick is that it wasn't the Blue Dress - it was the ancient War Hero - that did them in.
Good point. One of the few things that Gingrich ever got right was when he referred to Dole as "the tax collector for the Welfare State."

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“The danger is not that a particular class is unfit to govern. Every class is unfit to govern.”

Lord Acton (1834 - 1902)
Hihoherewego
Posts: 931
Incept: 2009-02-25

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Sheeit. Didn't the Demonstrocrats say essentially the same thing about getting our fiscal house in order when they did their campaigning back in 2008?

I don't know about you all but I have about -25% faith that this Gringricho-like pledge by Repugnocrats will fix anything other than making the uber-rich even richer and their terms in office even more secure.

Two-headed single party snake slithering around looking for votes of 'confidence' that this time around they're not gonna bite the hand that feeds them. "This time it's different".

Riiiiiiiiiiiiiight.

See if anyone of you Mensan's can guess what I'm thinkin right about now to that BS........

smiley smiley


..........................

http://www.usdebtclock.org/






Blackswan
Posts: 5564
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Gold
Just outside of Philly
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Fail. No surprise. Just enough pretty language in there to try and appease the tea party crowd and try and get those votes.

Try again or we as a nation are doomed to some really ****ty times.


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“It’s checkmate. Everywhere it’s checkmate.”
Hugh Hendry
Asimov
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East Tennessee Eastern Time
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If there were substantial differences between the two parties, there would actually be a choice availible.

They can't have that.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
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