pirt fost ?

Did we hit TickerCon kaboom?

Don't think so - yet

Do not listen to him just yet.

The man is usually early by a few months.

Probably won't require a visit to TF to tell...

"No it can't happen again..."

There's another group of guys who can't stomach making the "tough" decisions either. They're called the SEC...

It is all a ploy so that Wall Street can make some money manipulating the market so there is more campaign funding. Obama will sign an executive order and the Republicans will not do **** about it. This is a trading opportunity and nothing more.

*yawn*

Fearmonger.

What will happen is that the credit rating of the US is downgraded, more $$$ in interest is paid to the bondholders, and SS recipients will get stiffed until the Obama regime gets it way.

It will be an an eye-opening experience. It wont be armageddon. That comes much later when we realize that we are deeply in debt to China and to Saudi Arabia.

What could happen is that the US Treasury could print its own notes in any denomination to pay bills. It wont. The bankers wont get their vigorish.

Would someone please post the URL to that video... it won't load for me because flash keeps getting buggier and buggier with every release on my platform.

Rechecking get away plan and provisions.

Karl,

Fox reporter John Stossel's "chainsaw budget" plan actually achieves a $240 billion SURPLUS!!

http://www.foxbusiness.com/on-air/stosse....

Defense cut by 2/3: $475 billion (Federal Budget, pg. 58)
Medicare/Medicaid*: $441 billion (Cato Institute)
Social Security*: $170 billion (Heritage Foundation)
Eliminate Dept. of Education (includes Pell Grants): $106.9 billion (Cato Institute)
Social Security Means Testing*: $85.7 billion (Cato Institute)
Eliminate Dept. of Transportation: $84.8 billion (Cato Institute)
Tax Amnesty: $80 billion (Rep. Jared Polis D-Co.)
Eliminate Dept. of Labor*: $78.6 billion (Department of Labor and White House)
Eliminate HUD: $60.8 billion (Cato Institute)
Eliminate Dept. of Agriculture*: $33 billion (Cato Institute)
Cut civilian employee compensation: $30 billion (Cato Institute)
Stop maintaining vacant federal property: $25 billion (Heritage Foundation)
Eliminate Foreign Aid: $21.2 billion (Cato Institute)
Eliminate Dept. of Energy*: $20.8 billion (Cato Institute)
Eliminate NASA: $19.6 billion (Cato Institute)
Federal Drug War: $15 billion (White House)
Earmark moratorium: $16 billion (Heritage Foundation)
Eliminate Fannie/Freddie Subsidies: $14 billion (Federal Housing Finance Agency (p. 10))
Eliminate Dept. of Commerce: $13.9 billion (Department of Commerce)
Eliminate Dept. of Interior: $12 billion (White House)
Legalize Pot, Online gambling, Immigrants: $12 billion (Rep. Jared Polis D-Co.)
Privatize Army Corps of Engineers: $10.6 billion (Cato Institute)
Cut federal employee travel budget: $10 billion (Heritage Foundation)
Eliminate National Science Foundation: $7.4 billion (National Science Foundation)
End EPA’s State and Local grants: $6.5 billion (Cato Institute)
Repeal Davis-Bacon: $6 billion (Republican Study Committee)
Privatize TSA: $5.7 billion (Federal Budget)
Cut Dept. of Justice’s State and Local grants: $5 billion (Heritage Foundation)
Privatize Post Office: $4 billion (White House)
Eliminate Small Business Administration: $1.8 billion (Small Business Administration)
Lease coastal plain of ANWR: $1.5 billion (Heritage Foundation)
Eliminate Federal Flood Insurance: $1.3 billion (CBO, pg. 3)
Abolish SEC: $1.3 billion (SEC)
Eliminate Corporation for National Community Service: $1 billion (Cato Institute)
Suspend acquisition of federal office space: $1 billion (Heritage Foundation)
End subsidies for public broadcasting: $500 million (Cato Institute)
Eliminate the Neighborhood Reinvestment Corp: $480 million (Heritage Foundation)
Eliminate the FCC: $439 million (FCC)
Eliminate the Endowments for Arts/Humanities: $332 million (NEA/NEH)

Total Cut: $1,882,619,000,000
Current deficit: $1,645,000,000,000
Surplus Achieved: $237,619,000,000

(Research by Maxim Lott and Charles Couger.)
They don't need to drive us deeper in debt. They choose to. Tune in tonight at 10pm to see how they could choose differently.
--
*Notes
Department of Energy is eliminated except for Nuclear arms maintenance
Department of Agriculture is eliminated, except for food programs for the needy
Department of Labor is eliminated, except for 26-week unemployment benefits
Defense budget would still be $243 billion, more than twice what the next highest country (China) spends
Medicare and Medicaid savings breakdown:
Block grant Medicaid and freeze spending (226)
Repeal 2010 healthcare law (87)
Increase Medicare premiums (39.8)
Cut non-Medicare premiums (37.7)
Cut Medicare payment error rate by 50% (28.6)
Increase Medicare deductibles (12.6)
Tort Reform (10)

Social Security savings breakdown:
Price index initial benefits** 41.1
Raise the normal retirement age** 31.4
Cut Social Security disability program by 10% 13.2
Read more: http://www.foxbusiness.com/on-air/stosse....

Karl,

Do you have strong feelings about this?

:)

Not at all Sw. ;-)

As long as Kat Von D and Joe Pesci are the Yahoo top trends as of this morning with ZERO mention of a crisis.....

The sheeple still sleepy.......and .gov knows it. They do this everytime. It is telegraphed, orchestrated, and certian to be resolved their way.

Only there is no holiday to do it on the eve of....

ojeff, very interesting but didn't like the legalize immigrant part snuck in there.

that is long term pain.

i like how they lumped online gambling, pot, and immigrants in the same proposal....

Don't worry about China and Saudi. They are banks too.