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Monday, March 4, 2013

What Did I Learn Over the Weekend?

I learned that the new Republican Party will take an ax to the defense budget if it means the wealthy will get to keep their tax loopholes. There’s no question that President Obama overplayed his hand by using fear mongering tactics that were proved to be wrong. It gives credence to the old saying “if you lay down with dogs you will get up with fleas.” The president has a 51% approval right now and the GOP has a 29%; the difference is that 29% translates into a 81% approval in the representative’s district.

Joe Scarborough parroted the GOP line this morning by saying that cutting 1% of the budget will not bring on the doom and gloom the administration was trying to shove on the American taxpayer. At first, it was 3% of GDP, then 2%, and now it’s 1% but the fact remains that the current 1% applies to the next seven months, and it is not applied evenly across the board. Those states that depend on government contracts will feel the pain more than those that do not. The furlough of government workers will not improve the unemployment picture. Even Joe Scarborough admits that the cuts will be taken out of growth incentives like education, research and development and infrastructure projects. Congress will take up a bill to give the president the budget-cutting options, but they might as well say, “You have to cut off one of your fingers but we’ll let you pick the one you want to cut off.

John Boehner stuck to his talking points this weekend on “Meet the Press” with David Gregory. He said that nobody in Washington knows what the sequester will do. That’s just your personal opinion John, but you don’t pay much attention to leading economist besides you can’t see much as long as the Tea Party is pulling on your chains. He also said that he pulled out all the stops to avoid the sequester cuts by passing two budgets. John, the American people rejected those proposals in November, but now you expect the Senate to consider those bills which are loaded with poison pills. Congressman Ryan’s first budget called for vouchers which the public overwhelmingly rejected and his second budget doesn’t touch the defense budget at all, has no revenues, and makes most of his cuts on students, the elderly and the poor. Mr. Boehner, if the house had the filibuster rule, Ryan’s budgets would have never made to the floor for a vote. The House and the Senate rules are different as night and day. I get very upset when the so-call liberal media doesn't call out John Boehner or any other Republican when they revert back to "who me" I am on the side who passed a budget. I know when they start doing that,word will get out and they will be boycotted and then the offended party will go on a network who will coddle them.

 I just read where corporate profits were up to 14.2% yet personal income was down by $500 billion. The GOP will consider removing the tax loopholes for a cut in corporate tax rates. Corporate's profits are up to 14.2%, remind me again of why they need their rates lowered?

There was the “who cares” category such as the Dennis Rodman interview about his trip to North Korea, the email scandal between Bob Woodward and White House staffer Gene Sperling and the Mitt and Ann Romney sympathy tour. It didn’t surprise me that Ann Romney would blame the media for husband’s loss because America didn’t get to know the real Mitt. Come on Ann, Mitt has been running for public office for most of his life, but I will grant you that he took different positions on each run. Perhaps we didn’t get to know the 2012 version of Mitt Romney.

It doesn’t surprise me how the media will follow a story for ratings, but the politicians know that and take full advantage. John McCain and Lindsey Graham are fixtures on the Sunday shows because they are willing to give the networks the sound bites they desire.


Mike said...

It's what I have been waiting for...Joe Scarborough v Paul Krugman on PBS's Charlie Rose Show tonight.

Austerity v Keynesian.

Former Congressman/talk host host v Noble Prize Paul Krugman.

Joe won't have his guests as backup,so Joe better bone up.

Mike said...

It was a great lesson in macroeconomics ‘but Paul Krugman allowed Joe Scarborough to get into his head with all the ad hominem attacks and exaggerations.

Paul knows better because he’s a student and master of Keynesian economics. Paul knows that you just can’t throw a dollar at the problem and always get $1.50 in return but that’s what he said. He has to admit that the entire stimulus was not spent wisely but he could have made the point that it kept us from going over the deep- end.

Joe Scarborough and Mika were gloating so much this morning that Jeffery Scahs had to come in (along with Mark Harperin) had to right the ship for Krugman. Mark said Obama wants to wait a little while before he tackles the entitlements because he sees a glimmer of home on the horizon. He wants to negotiate from a point that he doesn’t have to make draconian cuts that are not needed and treat Social Security as a separate issue.

Who knows, cutting the funds from an agency might make them come out of this even strong but cutting the waste.

Edith Ann said...

The right seems to have seized on the Foreign Aide to Egypt and are making a huge deal out it while down-playing the sequester.

They want us to forget that we have a Congress...

Mike said...

Those tanks and jets were approved by Congress a long time ago but it was to the previous regime. The RW is trying to use incident because they are afraid of the Muslim Brotherhood who brokered a peace deal between Israel and Palestine.President Mohammed Morsi. We praised Egypt's role in brokering the deal....It's not as if Obama attacked a country who didn't have WMD.

Now... President Obama can resend the order and make Lockheed pay back US taxpayers.