By Fareed Zakaria, CNN
We have demonstrated to ourselves, the world and global markets that our political system is broken and that we are incapable of conceiving and implementing sensible public policy.
The actual cut to the 2012 budget, the only budget over which this Congress has control, is $21 billion out of total expenditures of $3.7 trillion – a pittance.
Everything else can and will be changed by future Congresses.
What the deal does is - once again - kick tough choices down the road, this time to a congressional super-commission that will have to come up with a larger plan to reduce debt.
And it does nothing to spur growth, without which the debt will expand well above projections.
The manner in which the deal was produced added poison to an already toxic atmosphere in Washington, making compromise even more difficult.
Democrats now feel they need to mirror the Tea Party's tactics and are becoming unyielding on any cuts to entitlement programs like Medicare. Republicans, emboldened by the success of their bullying, have closed ranks more solidly around a no-tax agenda.
But the only solution to America's debt dilemma will need to involve both cuts to entitlement programs and higher tax revenues.
Congress is more polarized than ever before...and that polarization has resulted in paralysis. More than two years into the Obama Administration, hundreds of key positions in government remain vacant for lack of Senate confirmation. The Treasury Department had to handle the global financial crisis, recession, bank stress tests and automaker bailouts, as well as its usual duties, with about a dozen of its senior positions - almost its entire top management - vacant. Senate rules have been used, abused and twisted to allow constant delay and blockage.
The filibuster, historically employed about once a decade, is now a routine procedure that allows the minority to thwart the will of the majority. In 2009, Senate Republicans filibustered a stunning 80% of major legislation. Given how the chamber is composed - two Senators per state, no matter how thinly populated - people representing just 10% of the country can block all legislation.
Is that how a democracy should function?
These dysfunctions come at a bad time. The U.S. faces intense pressures from an aging population, technological change and globalization.We need smart policies in every field.
We need to pare spending in areas like health care and pensions but invest in others like research and development, infrastructure and education in order to grow. In an age of budgetary limits, money needs to be spent wisely and only on projects that are effective.
But in area after area - energy, immigration, infrastructure - government policy is sub-optimal, a sad mixture of political payoffs and ideological positioning.
Countries from Canada to Australia to Singapore implement smart policies and copy best practices from around the world. We bicker and remain paralyzed.
If, as a result of these congressional antics, interest rates on America's debt rise by 1% - in other words, if the world asks for just a little bit more interest to lend us money - the budget deficit will rise by $1.3 trillion over 10 years. That would more than wipe out the entire 10 years of cuts proposed in the debt deal. That's the American system at work these days.
For more on this, you can read my cover story in this week's TIME Magazine or TIME.com. Also, I invite you to follow me on Facebook, Twitter and Google+ for more throughout the week.
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Marxist policies got us where we are.
“When the people find they can vote themselves money; that will herald the end of the republic.” Benjamin Franklin
BuddyR – nice try. You realize that Bush 1, Bush 2, and Reagan increased the debt the most as a percentage of GDP since WW II, right? Obama headed for the list too, but the real thing that got us here was cutting taxes without cutting spending. That's it. Or cutting taxes and increasing spending on wars kept "off the books. Also, social welfare is not Marxism. Go look it up instead of parroting the right wing talk radio who know better, but also know what lies sound good.
Wasteful Spending......Need a balanced Budget....
Bush's tax cuts increased revenues by 44%. You probably don't understand economics so you can't comprehend how lower tax rates typically increase revenues. Go read a book bro.
Right Intelligen Kevin u read the book tell me if Bush tax cuts increased revenue how come he left the office with trillions in deficit compared to surplus budget he got when he came to office? and yeah he got us into war where we can get the money to pay for it? all the Big companies made money off the war contracts ..yeah u do need to read the book on budget and wid some meds BRO
Vet SV you need to read a book too and learn to read posts. The tax cuts did increase revenue, but that does not imply that Bush didn't over spend said revenues. The reality is you cut taxes you need to ensure that spending is balanced with the revenue.
@Kevin, you are so full of crap I can smell you over the internet. Cutting taxes reduces revenue. There is no exception in history. Not one. When less is taken in, there is less.. It is not rocket science. Celery has a higher i.q. than you.
@Boob,, you should take your own advice as well. At no time in our history has lowering taxes increased revenue. Not one. I defy you to prove otherwise. In fact as taxes have declined steadily since the 50's and he Republican mantra is lower taxes and the "job creators" will hire.. where are the jobs. A little history for you. The effective tax rate for business in the 50's was 49%, the 60's it was 38%, the 70's it was 33%, the 80's it was 25%, today's effective tax rate is between 11-13% so where are the jobs if lowering taxes stimulates job growth. The only growth that has occurred is the disparity of wages versus the profit margin for the wealthy. Do some research instead of parroting party rhetoric. That is if you have that capability.
Kevin, how about a source? It's theoretically possible for a tax cut to lead to an increase in overall revenues (called the Laffer Curve, btw), but almost all credible sources agree that Bush's tax cuts added to the deficit (including the CBO and the Heritage Foundation).
Making stuff up isn't going to help anything....
Honestly, I see Congress as nothing more than a bunch of people commenting/arguing on the internet. Everyone has these magnificent "facts" that support their idea and yet no one can agree on a damn thing.
chuck... I think your comment makes sense... so what should we do... I know people who are republicans... they are not rich.... and they think increasing taxes for the 5% of the population will affect them a lot... they just hate obama for everything he does.... I am not bias at all... I want taxes to go up ... even thats what Warren Buffet is saying.... and I want a significant reduction in spending... I know spending cuts is going to hamper the economy... and there will be less jobs.... but rather to suffer later lets all suffer now... lets not spend that we haven't earned..... lets stop buying stuffs from china.... let we start producing again... even though we cant export let us produce for ourselves....its enough...... let us not buy stuffs from Corporations where there headquaters are outside the United States.... and they all themselves an American Company.... let us stop foreign aid.... let up stop giving away money to the Big Oil companies... We will suffer for the next 10 years... but we will come back strong... let us stop voting for people who call them democrats or republicans...... let us send people who have a deep passion to do good for our country.........
Travis, it's our responsibility as citizens to honestly access the facts behind policies being debated and the statements our politician make. If we allow the waters to be muddied by statements like Bush's tax cuts increased overall revenues by 44% we'll never be able to find solutions.
*access=assess
Kevin – this is a lie constantly put forward by the right wing and you fell for it hook line and sinker. The fact is, revenues FELL under george bush when adjusting for inflation. People who try to sell the lie that the bush tax cuts raised revenue always point to the bottom of the business cycle and the top of the business cycle and say "see, revenues went up". But, that happens in EVERY business cycle, with or without tax cuts. The fact is, revenues (when adjusting for inflation) should ALWAYS go up over an 8-year presidency simply because of population growth, but under george bush, they fell. (From 2.31 trillion in 2000 to 2.28 trillion in 2008). Compare that to clinton, who raised taxes, and revenues rose 53%, and you don't have to cherry pick the top and bottom of the business cycle in order to make the numbers fit the theory. The fact is, tax decreases ONLY increase revenue on both a per capita and inflation adjusted basis when taxes are above the inflection point on the laffer curve. Clearly, tax cuts cannot increase revenues forever – if you cut taxes to 0, clearly revenues will be 0. So, at some point, you cross an inflection point, and history has shown that that inflection point is somewhere north of 50%.
True, Buddy R should know what "Marxism" means, before he airs his views. Maybe Obama should have been more Marxist. Perhaps the market and the world would have reacted differently.
Moreover, the obscene "borrowing" from the Social Security Trust Fund to pay for the Bush Tax cuts is a crime against every American retiree.
Bush tax cuts in 2003 did in fact raise GDP from 11.14 trillion in 2003 to 14.37 trillion in 2008; total gain of 29%. Tax receipts and revenues also rose during this time, from 3.45 trillion to 4.74 trillion in 2008 (gain of 37%).
In summary- Bush tax cuts increased GDP by 29%, and government revenues by 37%. Case closed. Inform youselves people, free market capitalism is what made this country great! And stop with the jealous, tax the rich nonsense, it makes you look like slobs.
Citation: http://www.usgovernmentrevenues.com
It is 44%, 2003 compared to 2007, taxpolicycenter.org, read it and reap. In constant 2005 dollars it is actually only 27%, but still tax cuts bring in the bacon. But I am afraid, it is going to take tax hikes plus spending cuts to get this this beast under control. The REPs won't go along with tax cuts and the DEMs don't want spending cut. Both side are going to have to give and big time. BTW, I was a 30 year dem, union member and turned conservative 3 years ago. The spending is the problem here, but it is going to take tax revenue to dig us out.
chris – you are deliberately cherry picking your dates to make your theory work. Why not compare the date that the bush tax cuts first went into effect (2001) to the now (since they are still in effect)? Because, of course, that would reveal your theory to be false – revenues have gone DOWN since the bush tax cuts went in to effect (and that's not even adjusting for population growth). Instead, you deliberately choose the bottom of the business cycle and the top of the business cycle as your dates, and ignore everything else. EVERY economic theory looks good when you are allowed to cherry pick your dates to suit your theory. OTOH, Clinton RAISED taxes and revenues went up and STAYED up until Bush slashed taxes. No need to cherry pick dates to show that tax increases increase revenue, but you are forced to cherry pick your dates to prove the opposite.
Just think about what you are saying – lowering taxes increases revenue. If that were true, then we should all be paying a tax rate of negative infinity, and revenues would be infinite, right? Don't you see the absurdity of that? Yes, we all know about the laffer curve. What you don't seem to get is that the laffer curve is called a "curve" for a reason – it is not a straight line. Lowering taxes only increases revenue in very special cases, and we are not in that case, and the Bush and Clinton presidencies are proof of that. Clinton raised taxes, and revenues rose 53% on his watch. Bush lowered taxes, and revenues went DOWN on his watch. Obama lowered taxes more, and revenues fell more.
@Chris, sure GDP and revenues went up, but correlation is not causation. We had the entire upswing of the business cycle between 2003 and 2008. Tax cuts spur growth to be sure, but to what degree? Total revenues went up in spite of the tax cuts not because of them.
I don't think this is true. Show me the facts. Our debt to GDP ratio is the highest it has been except for WW2 in our history...which is staggering because we're in peacetime!
Obama is not going to run for for a second term. Who will the Democrats put up.
I agree that it's very important to cut spending - it's crucial. And we know that we borrow 40 cents of every dollar spent by the fed. However, if you take a 40% axe to fed spending in one year, it would certainly catapult us into a depression. There are no viable industries remaining in the US that can hire enough people to compensate. Many of our industries have been outsourced.
But those who point to Bush tax cuts and claim that they "grew the economy" are talking hog wash. Dig through news headlines from any of the Bush (W) years, and you'll read the same story ... economies were off, the ONLY industry/market that helped the job market and taxable income was real-estate. And if you haven't been living in a cave, you know that the real-estate industry was primarily built on a house of cards through risky home mortgages. If there was ANY growth during the Bush presidency, it was caused more from an enormous real-estate bubble than some tax cuts that are still in place ... and obviously are NOT causing a massive growth in our economy.
The democrats are wrong to ask that "only those making over $250 K should see a tax increase.
The republicans are wrong to ask that "no tax increases - for anyone".
Do you mean to tell me there is someone out there who going to go through a major lifestyle change if their taxes go up 1%? If so, let me tell you, they're lying.
Congress needs to immediately revisit the bill they just passed and reduce ALL federal spending by 4% (uniformly across federal budgets) while adding a 1% tax for everyone and every business. Then, in upcoming years, they'll need to dig deeper and consider additional tax increases until we have a balanced budget. You can't do it all in one year. It will take time.
Once you get spending back in line without bankrupting the country, THEN you can consider actually paying down the debt and if that happens, we can look forward to some small tax cuts.
for Kevin- did those cuts pay for the wars?
Yes all three did spend and it took them 8 years to spend less than Obama had in less than 2 years .Do the math and stop supporting fools incharge of this country .Reid and Obama got what they wanted in that last deal also pelosi and its worse than every .Stop backing idiots ,the world sees whos to blame and other countries has a lot of anger at us for this mess .You need to be stocking up and stop posting crap for those that dont take crap .people crap for the crap gobblers like DEMOCRATS .The waste and spend fools
To Kevin et al., It doesn't matter what the facts are, the extreme right will just continue to say "cutting taxes increases revenue," because they know if they repeat a thing often enought, true or not, a certain numbe of people will believe it. I give the neo-fascists this, though: They are brilliant at logn term planning. The Dems/liberals/progressives want a good mannered intellectual debate with no fists up. I like to be gentle with everyone, but we are dealing with bullies. Pick short, sharp, TRUE messages and say them over and over and over and stick to the subject. Say Job-Killing Tax Cuts over and over, because it's TRUE. As a gazillian folks have asked on line, "Where are the jobs that 30 years of tax cuts are supposed to have produced." We never get an answer because the right doesn't have one, so they just keep changing the subject. Stop letting them do that.
Well actually, Bush I tried – he called Reagan programs voodoo economics. His base threw him under the bus for raising revenue (taxes). His follower Clinton improved on that model and created a surplus. Bush II – drunken sailer on leave. Obama cannot resolve the current problem mathematically without revenue. Cant happen. It isn't really republican vs democrat it is moderately intelligent vs moron.
You guys do realize that Tax cuts are ponzi schemes right? The only thing tax cuts did was give all the rich business owners a bigger profit, hence the growing income gap. Tax cut legislation needs to be paired with a job creating requirement. ie, you get a tax cut for your business if you increase production and hire more people at good wages. Also the tax cut should be contingent on how much increased production and how much wages are being paid out per person hired. Otherwise you just have people capitalizing on the cuts, making record profits with streamlined labor forces. It seems to me that the only thing tax cuts have done is give more money to people who do not need it. Raising Taxes on the rich actually forces them to increase production and to create more jobs in order that they can maintain their incomes. Also, Tax increases need to be paired with legislation that keeps manufacturing in the USA and that, in fact, brings manufacturing home by imposing huge tarrifs on any goods manufactured outside the U.S. by U.S. companies.
Kevin:
"Here's what "Face the Nation" (July 10) had to say about the Bush tax cuts and the so called increase in revenue:
A review of data from the White House Office of Management and Budget shows that tax revenues did not consistently increase after the Bush tax cuts went into effect.
In FY 2001, tax revenue in dollars was $1,991.1 billion. For FY 2002 – the first budget of the Bush administration, which went into effect after President George W. Bush signed tax cuts into law in June 2001 – revenue dropped to $1,853.1 billion.
Bush signed two more tax cuts into law over the next two years. In FY 2003, revenue dropped further, to $1,782.3 billion – about a 10-percent reduction from two years earlier.
This drop in tax revenue occurred even as economic activity – the nation's GDP – was continually rising, according to Bureau of Economic Analysis data.
Revenues then increased for four years – from $1,880.1 billion in FY 2004 to $2,568 billion in FY 2007 – before sliding to $2,524 billion in FY 2008, and then dropping further to $2,105 billion in FY 2009 as the recession exploded."
"Marxist policies got us where we are."
I would think it's the dittoheads such as yourself that got us here. Socialism does not equal evil. You're the same type that bemoans 'regulation' and 'taxes' on the 'job creators' so they can create jobs in Thailand or Malaysia. Then you, in profound ignorance, attack people who unionize to make sure Americans aren't treated like Malaysians and call them 'Socialists". Your readiness to lick the corporate boot makes you more of a Dog than an American.
People like Kevin are absolutely KILLING this country. Please for the love of God you conservative jerks need to stop lying! You are an utter disgrace not only to what America stands for, but to the concept of an educated electorate!
Obama promised hope and change, so where's the hope and change. What is changed if he's just following the course laid before him. He is no different than all the other politicians. Cunning, deceitful and power hungry. No hope, no change, no nada.
The right and apologists for Bush want to claim, against reason, that tax cuts increased government revenue. In order to do magic incredible expansion would have had to take place to cover the approximate $3-T price tag. Yet, we went into a recession that even the right and apologists cannot deny. Data shows “the 2001-2007 economic expansion was among the weakest since World War II with regard to overall economic growth”, according to the CBPP.
@Kevin. you're obviously subscribing to the Laffer curve ( after Arthur Laffer) if you think tax cuts are going to fix the economy, then you need to know why economic policy doesn't support this way of thinking anymore. Quickly, cutting taxes is not the way to improve the economy because we don't know where the maximum of the tax rate is. You need to also consider direct and indirect effects of both aggregate demand and aggregate supply and how leisure time is valued by workers. This is why cutting taxes is not a good idea. There are some good textbooks by Dornbusch that I suggest you read
all the best!
That is too deep for some. Many folks look for someone to blame. They are incapable to realize we have been on this path of destruction of the middle class for decades
Headed for the list??!! ha ha ha... yeah, right. He made the list the 1st year in office. When GWB left office the debt was in the billions, not trillions.
betty
Obama's part of the deficit is 2.4t, Bush Jr 6.1T, Bush Sr 1.6T, Reagan 1.9T, Clinton 1.5t, pre-Reagan 1T. (Source Boston Globe)
Nice try yourself. In his first term with the debt increased $.82 trillion or 11.37% and $1,05 trillion in his second term for 9.37%, most of the time battling a Democrat Congress who wanted even more spending. Bush increased 7.1 and 20.7% with the same problem. And, of course, the Democrat controlled Congress wanted even more. Your boob increased the debt 9% $1.65 trillion in a year. What do you suppose will happen in four? Point is, pointy head, your guy is going to create an all-time record, no President, particularly one who had control of Congress, will have for the next millennia. In short, there are spenders and there are spenders and Barry Obama is set to make a record which no President can or would ever want to emulate.
tea party 1, USA 0
Even though it is a FACT that Fox News listeners are the LEAST informed, some people do not want to listen to the truth because no matter what, they will only listen to the propaganda, lies, and fear tactics of the Republican party! I wish people would THINK FOR THEMSEVES!!!!!!!
Even though it is a FACT that Fox News listeners are the LEAST informed, some people do not want to listen to the truth because no matter what, they will only listen to the propaganda, lies, and fear tactics of the Republican party! I wish people would THINK FOR THEMSELVES!!!!!!!
It's not about whether Bush 1 or Bush 2 or whoever presided over adding to the debt. The problem is, we NOW owe about $50,000 each to Uncle Sam...We NOW have about 50% of tax filers that are not paying any income tax. We NOW have a situation in which fully 80% of the population are net beneficiaries (meaning they get more in total than they pay in), and we NOW see the natural conclusion of the road we are on in the form of Greece, Spain, Portugal, Italy, etc. So NOW is the time to act.
TWO WARS are not peacetime. The bulk of our debt and massive expenses come from TWO WARS. The balance from Bush crashing the economy and massive tax cuts for the wealthy. Add in massive welfare for megacorporations and you have insanity. Now the corporations are saying they want granny's social security check, a good portion of which Bush spent on RICH PEOPLE and WARS.
Y'all are funny as heck!
1. Lower tax rates usually increases revenues because more income is created and taxed (20% of $ 100 is far better than 50% of $35) but one can only cut so far before it becomes lopsided and no longer works (such as when over 50% of the working population doesn't pay income tax at all to the Fed). Basic economics and is easily seen from history.
2. Just because someone lowers (or raises) tax rates and then runs a deficit doesn't mean the tax revenue that came in is less....making a statement that claims such a point is rather childish and shows finance skills of a pre-teen. It COULD be less revenue coming in (the expansion and continuation of the Bush tax cuts did cut revenue and even the Heritage Foundation experts will tell you that) OR it COULD be the spending of even more than before the rate change(s). Case in point is the 1980's during Reagan's tenure. Tax rates were lowered dramatically and revenues almost doubled (and the increase cam almost entirely from the top earners to boot) but spending increased much faster than the revenue increased.
3. BOTH parties have gotten us here by overspending. It doesn't matter if youy think the government should be larger or smaller either – one shouldn't spend more than one makes as a general rule – esp. government. Both have gotten us into this pickle by spending massive sums on pork-barrel projects, give-a-ways to rich and to the lazy and to political friends and financial partners.
RAB,
Great bumper sticker but that is the most simple-minded and false and is exactly the type of childish thinking that has gotten us into this problem. The real problem is people like you who are obviously not intelligent enough to look at the situation and investigate enough to find the truth. We ALL share blame in this mess but it is the fools such as yourself that do nothing but look to blame others for your own mistakes and the mistakes of your allies.
I am a litlte worried for our American people on this site as it is clear no one, but only a few, know what they are talking about. The housing market created the tumbling effect that started this economically disaster. The 80/20 loans that Clinton created and approved helped the tumbling effect. 'NO' Clinton was not the complete cause of this crazy mess we are all in. The 'TWO' Wars we are in is a major issue, however, it is not the underlining problem. Our government is handing out money to dumb programs that do not produce. For instance, why do we need federal mailing? Fedex and UPS do a fine job at delivering packages and I don't see them spending 3 billion over budget. The 30% or less of the American people who vote are the people putting in morons on Capital hill. We all sit back and let these idiots dictate out future and our childrens future. Eventually, and it will come, our country will tumble future into a dark hole we dug ourselves in. That is when we, as American's, will have to stand up and change the foundation of our government.
I'd like to add the special person who said our taxes have been going lower since the 50's... I would love to see your numbers and where you found them. We on average, give 40% of our earned money to taxes. Not even including what we give when we purchase stuff. The higher the taxes the less money in your pocket. The higher the taxes and the less money in your pocket leads to not buying the things you want. Hence, in the 50's people bought big houses, cars, went on nice vacations...etc... The less we give to good Ole Uncle Sam the more we can spend. It called logic.
@Christopher Meier for President, you're onto something there. Those req's sound great, and make sense. But, as pointed out, the republican machine know their audience. As long as their audience doesn't have to think for themselves and has something to repeat, over and over, they're happy.
The republican elite want to do away with the middle class. Everything they do shows us this. Most of their base is going to scratch their heads at some point and wonder "what happened?". Of course they'll blame it on the democrats, because the republicans at the top will have already started repeating "they did it!", they did it!"
You said it.
Still nothin but the blame game "fruits & nuts" ? One party against the other. The govt needs a clean sweep on both sides of the aisle. We start with the liberal fruits & nuts in Cal-lee-forn-ia and sweep on through to de militia toothless rednecks makin sure to toss out the stretch-skins like Pelosi...cowboy poet jokesters like Reid .. Boehner with his $.50 tan and McCain with his hobbit arms. Then Obammy needs to take his destructive goals to Samolia & Bush better realize he probably will nose out Carter for last place!
The Bush tax cuts were the nail in the coffin of the government's solvency. Those who do not understand this are woefully ignorant of economics, fiscal policy and arithmetic. Yes, Faux Noise will declaim at the top of their shrill lungs that all the world's and America's problems are due to Obama – because Faux Noise is the evil mouthpiece of the Cheney/Murdock agendas. They own FOX and they dictate the editorializing that apparently passes for 'news' there. This is not a "liberal" position, this is an informed, intelligent opinion. Please try to get some unbiased information and grow some intelligence before weighing in on the discussion. Our problems really do lie fairly and squarely at the feet of GWB and his cronies. The current Tea Party lunatics are only making a bad situation worse and in some ways they are even MORE evil, becaus they adhere to a policy they do not even understand, simply because someone told them they should. Brainless moronic nitwits without two synapses to rub together.
You give too much credit to the intelligence of the guys on hate radio/tv, GoldenGate. I doubt they know squat. But you do. Cutting taxes FOR THE VERY RICH does not create revenue, you're right. There is no trickle down. The very rich corporate execs cut jobs to make more money, and then we fools support tax cuts to give them more. We buy the patriotic line that tells us its ok to have unfunded wars. And we actually think it makes sense that our lawmakers are in debt up to their eyeballs to the lobbyists. So, what to do? Demand health care equal to theirs. Demand unfunded wars stop. Demand that any Congressperson's child or grandchild of service age serves in the armed forces, the way Joe Biden's AND Sarah Palin's did. Shorted the campaigns and publicly fund them. I could come up with a zillion more. Oh yeah, cut expenditutes, like congressional junkets and congressional health care and weapons we don't needed and studies that go nowhere.
The Obama Administration has never cut taxes, they only extended the Bush tax cuts. The reduction in revenue is due to the 9.1% unemployment. I was paying taxes when I was employed at 10 times the rate as I pay on an Unemployment check. There are millions of us that were paying significant taxes that aren't now. The real problem is all of the regulations the Obama Administration has put on businesses in his 2 1/2 years. He is a JOB DESTROYER with his buddies right there with him. Wake up AMERICA!
betty dear, you are a fox watching nitwit. Your nonsensical reply is proof positive that you prefer rush and hannity over facts, reality and the history of the last 30 years.
Looking at the GPO website (www.gpoaccess.gov) for information on revenues and debt for the US, especially for the time covered helps. There is way to much political posturing going on and many of the statements here ignore multiple factors in favor of political ideology. The U.S. government revenues and debts are much more complex than political sound bites. Please read and inform yourselves.
Your facts are FALSE. You need to go back and do some research. I did.
Bush Jr. raised the debt 20 percent over his 8 years as president.
Obama raised the debt 60 percent over 2.5 years and is now expecting to raise it 25 percent more in 1.5 years.
85 percent growth in four years (end of 2012) versus 20 percent in eight years.
Obama = over 20 percent per year growth in debt.
Bush Jr = 2.5 percent per year growth in debt.
See how that works?
Google the numbers, they are there.
People fail to realize that it has been the 2 party system that has crippled America. The Republicans are so dead set on not raising any taxes despite Reagan and Bush Sr raising taxes; more than once!! The Democrats are so against government spending cuts despite Clinton showing that a good budget can happen without killing the economy anymore.
The financial crisis we have is a result of many years of both Republican and Democrat blunders. It started in the 80's with Reagan. He killed Corporate regulation, killed unions, raised taxes, and ballooned the Defense budget. He did these moves at a time when corporations were moving their facilities to other countries. He did this at a time when he should have been penalizing US based companies for not being "Made in the USA". The government should have imposed heavy tariffs on companies that moved production off shore.
Bush Sr. managed to fight a war in Iraq and come out with a victory. He did raise taxes but was able to keep our budget/deficit somewhat in line. Clinton over saw massive government spending cuts. He is the only president out of the last 8 terms to see the Budget actually decrease every year under his term. However, it was his government (with Republican congress) that oversaw the largest banking de-regulation which lead to sub-prime murder mortgages. Bush did nothing to help the economy. He doubled our defense spending and dropped our tax revenue base. He was directly responsible for 1st stimulus(massive economic tax stimulus refunds) and co-partnered the second(with incoming Obama). Obama, so far, has killed the budget and our tax base has continued to erode.
Don't you see... this problem has been present since the early 80's. Every congress has continued to push the issue further and further down the road, but as a country, we are finally starting to max out our credit cards. It's not a time for compromise, it's time for these overpaid, out of the loop old men to start doing what's not popular and make drastic changes!
You know this entire chain just shows exactly what is wrong with the entire thought process going on right now on both sides. Both sides are trying to make all these simple one line this is what it is when in reality things are just not that simple.
As pointed out the effect against the Bush tax cuts as demonstrated was that revenue did in fact get decreased through the time period with negligable economic growth, at which point the economy started a new up swing with the caveat of the first threads leading to the recession beginning to come undone. This however cannot be simply correlated to tax cuts generated the increased economy, because during that same period the federal government went into an expansion phase with the introduction of the DHS and TSA generating a large pool of new hires going into the system. Whether people like it or not that does play into the economy, and that does play into tax receipt numbers as their income is also taxed just like everyone elses. Additionally those employees still spend money in this economy and they in turn generate demand for the private sector businesses who then hire to meet that demand. What needs to be shown is not just GDP percentages and tax revenue percentages, but rather actual figures that handle accounting resulting GDP from the additional spending associated with governmental agency stand ups, and subsequent percentage of total tax revenue amounts that are a result of the new employees (who may in fact had been in the full return/no pay category of income taxes before) for those governmental agency stand ups. Additionally that time period saw the largest boom time for government contracts due to the wars. This also has to be taken into account because all the new contracts all the new businesses that began providing for the war contribute into that GDP and tax revenue number. In trueth its already been stated, there was both tax decreases and increased federal spending for the time period in question yet not a single person has actually laid out anything that can actually demonstrate that the increased economy during that time period can be linked to one or the other. Instead all you get is well taxes went down so that had to be the reason...sorry no that spike in spending is also sitting there and whether people like admitting it or not that does play into the economy.
As noted the single biggest thing the US can do to reduce its deficit/debt right now would be to have the economy improve. At the same time cutting spending or raising taxes results in a drag to the economy making it worse and not better. What needs to be broken is the refusal to do either when the economy actually does improve because that is the key point you want to cut spending and start monkeying with taxes for increased revenue. Not smack in the middle of a recession/depression.
It was also indicated by one point that if you go to far either way you negatively impact what your trying to do. This is something you see constantly with engineering where trade studies are run. While something might sound good in one sense there is usually a point in the curves were you end up hitting the lowest and best point to design around. On either side of that point the curve begins to get increasingly worse. You cannot have 90% tax rates like Reagon had when he came into office and cut them back. By the same token you cannot infinitely cut taxes an sit there saying its just a spending problem. Remove revenue remove revenue remove revenue oh its just a spending problem....no you've completely cut the legs out from under you and you are not going to be getting more revenue from your increased economy because you've cut so gd far. That simple fact seems to be getting lost. 0% tax rate won't increase reveneu. and there is zero talk on the republicans side about actually coming to the most balanced tax rate/system possible. All there is are a bunch of talking points on constantly cutting taxes.
Oh, and George and Char, if you'll take the time to really investigate you'll find that the social welfare programs started by the Great Society of Johnson's presidency (Medicare and Medicaid) have had a very real and negative impact on the deficit. Just as out of control military spending under Regan caused additional stress. Clinton did reverse that trend and it lasted two years into Bush's presidency, until the 911 attacks and resulting economic instability, plus war spending. Don't forget that tax revenues aren't the only revenue sources of the U.S. government though.
@Leslie
Fox News viewers are not the LEAST informed. They believe they are diligent consumers of information, but much of what they are getting has been shown over and over again to be just wrong. They are the MOST misinformed.
forget Bush 1 Bush 2 and Bush 3.. they are history. Thats why President Obama was elected. Yet he made all the Bushes dwarf in comparison to his trillions of spending and to boot, he got us to spend a few more billions in Lybia. Lets focus on the man we have driving our country, as he is the one that can get us out of trouble or deeper into trouble.
Nice try back AT you. You can point out Republican administrations that did this and that, and you can try to place blame on them, but the REAL root of the problem is the lack of real, unselfish compromise on our President's part. When President Obama's party held BOTH houses of Congress, there was NO compromise..no transparency in the debates on the Obama Health Care Plan, DESPITE 60% of Americans opposing it, and despite the fact that the overwhelming majority of Americans felt it was the economy that needed work – not universal health care!!
Now the shoe is on the other foot – but THIS time, the Republican-controlled House put forward a bill that a DEMOCRAT-controlled Senate voted YES on. And Obama signed it into law. Was it the best timing or the best product? Of course not – because NEITHER party was willing to compromise. What goes around comes around, and this Democratic President did more harm to this country in the long run than ANY of the two previous Bush Presidents when, during the first year+ of his administration he thumbed his nose at the Republican minority. And then suddenly, Republicans won more seats back in the US House of Representatives than in any election since 1948. NEVER in US History, since the AAA credit rating was introduced did a US Administration create conditions where our standing worldwide was so damaged. And now, this future one-term President will leave office after four years having accepted a Nobel Peace Prize he neither deserved nor should have accepted, having damaged our nation's credit rating for years to come, and having diluted our political standing worldwide. And the author here has the audacity to point a finger at the Republican Party???
Golden gate you are way off the Bush tax cut amount to $200 Billion the increased Discreationary spending for this year is costing us $1.3 trillion. please wrap your head around some facts. To tell ya the truth I'm no Bush fan and he said she said won't solve a thing. Plain and simple we need to cut spending and not some token BS I agree with the Tea party to some degree before we even talk about taxes cut the spending otherwise the taxes will go up and spending will go up and nothing will be done
Using the logic presented here, the best thing for the country would be to eliminate all taxes. Unicorns, rainbows and donuts raining from the sky.
Kevin, before you draw conclusions from a graph which I am sure that's how you were misinformed do some thinking of your own, that is if you can. The period in which revenues increased after bush's cuts was considered to be the beginning of the housing bubble and were directly linked to it.
@Kevin- your a fool if you think just cutting taxes increases revenue and where is your reference for this "44%"??? I am very curious. You need to go read a Macro book because there is an optimal level of taxation, shown by the Laffer Curve, which states that you can only tax so much before it becomes ineffective and people start working less, in turn making less money for the US Government. We are in a situation where we need to both increase taxes and decrease spending. For an average increase of 800$ per family in America, we could solve our debt problem with smart spending and modest tax increases.
My personal opinion is change the entire tax system, let's move away from taxing income and start going to a value added tax, or a tax on spending. Have a 35% flat tax, im cool with that, it limits spending. At that point you will have no one to blame but yourself for being taxed too much because it shows you are spending too much. But hey, Ignorance is bliss- keep on moving and complaining sheep when you have no idea what your talking about.
@ Kevin "Bro" I have a degree in economics focusing on monetary theory and financial economics, that is just horse s#$%. Supply side economics have failed over and over again. Marginal Tax rates are at their lowest point in 70 years, the actual average corp tax rate is ridiculously low since they lobby congress for loop holes. Low tax rates only work if you get rid of loop holes. But the GOP has effectively fought closing loop holes (they talk about them, but always remove them saying that removing them is the same as raising taxes). Lowering taxes decreases costs to corporations and business owners, but we are a service based economy, if the middle and lower economic classes dont have money they cant spend it, and thus it wont matter how much capital is available if our consumers dont have money to consume with. You dont build a castle starting at the top, and when the base starts eroding the solution isnt to make sure the top is as strong as possible. Industry didnt create our economy, labor did, but it is symbiotic and all we have done over the last 30 years is destroy the middle and working classes while the wealthy have seen unprecedented gains.
Here is one of Fareed's articles that makes sense.
We do have a paralysis in our Government, no taxes and no spending cuts will not get us out of this budgetary and financial hole that we are digging ourselves into.
Where is the leadership to get the country in the right path, we have these wars that are costing us unaccounted billions, the industrial military complex is the main employer of the country, and we have all these demands for more social programs to take care of our unemployed and our seniors in the living standards they have been accustomed to. This is a formula for disaster for our country, and we have to wake up and get a political leadership which cares for the future of our country and the average citizen who works hard, pays his taxes and obeys the laws.
Can you imagine 10 thousand lobbyists in Washington making a living by influencing our leadership, this is insane.
We have huge budget deficits and we still maintain twelve aircraft carrier battle groups and unaccounted bases around the world. Do we need all this projection of force when we do not have the financial means to maintain all this grandeur.
We have a 700 billion trade deficit and close to 18% real unemployment and all these clowns in Washington and the radio and TV talking heads only spread venom on each other about trivial issues, like Obama's birth certificate and the utterings of Palin.
HahHaHa Kevin, Cash-flow from debt is not revenue. Nice try....
This is much more abotu the future of our economy than the debt ceiling. We have allowed outsourcing in grand scale and now we have no manufacturing jobs. We have politicians in Washington who make stupid trade agreements. We have given everything away, our Government has lied to us about everything including teh wars. Now, we see America on teh decline. Thank God I have another country to go to.
Kevin – you are an idiot. Tax cuts almost always decrease revenue. Every serious economist knows this. Check the congressional budget office or factcheck.com for info on how much revenue was lost by the Bush tax cuts.
Cutting taxes without cutting spending has indeed, surprise, surprise, widened the deficit. Right-wingers who live in their own insulated alternate reality will quote utterly discreditted studies and statistics that claim the tax cuts raised revenues, but back in the real world where the rest of us must survive, we can do math. We need to live within our means: more taxes or fewer services. Take the bitter pill.
Bob you're a REAL DUMMY....READ A BOOK
.... On the other reply, Cutting Taxes did Increase Revenue for the 2003 thru 2008 period when the First tax cuts Were Iniiated in 2003.....HOWEVER....THE U.S. EcONOMY Had a HUGE, ARTIFICIAL Real Estate Bubble....and Remember Housing is Huge part of Economy , and Hence G.Domestic Product (GDP.)
Essentially, THoSE HUGE Prices OR Valuations Brought in Extra Revenue to the Gov't.... But at the SAME TIME SPENDING vs. Revenue... Spending Was Greater & ALSO.. There were 2 Budgets the latter budget included the War spending.
Also, CASPAR in GA Is Very ACCURATE on the Periods for the Prior Yrs from the 50s thru the 1980s on Effective Tax rates... THose Incoming Revenues Helped Build the Interstate Highway System as well as Host of other Fedrl programs.IN summary those prior years, those tax rates helped "FUND" Spending & increase GDP Growth!!!
Kevin - how can you possibly fall for such partisan nonsense. I thought only people in Congress still believe that the partisan rethoric actually fools anyone. Yet, for as long as there are Kevins out there, they will keep on trucking. We have not had a real economy for a while now. Dismantling our manufacturing base started in Regan days, and Bush Elder started with wars of choice, and the practice of hiding war expenditures (and war profiteers) off books. Clinton opened pandora's box by "deregulating" financial system, that is, opened a grand casino in which our hard earned money meant nothing any more. More wars of choice by Bush Junior, more outrageous off books spending on all sorts of overseas ventures, from wars to quaint bases dotting the globe. All that coupled with the veritable tornado of invented "money" through fancy CDOs and CDS, and our imagined wealth grew like magic, all the while producing less and less. The whole thing blew up in 2008, and Bush and both parties in a HURRY came up with nearly a TRILLION dollars, to be followed by Obama's another 600 billion, followed by FED's QE1, 2 and now possibly 3. All the money ended up in banking black holes, while corporations have never had it this good - hoarding trillions of dollars. Yet, they are laying off people in US, while hiring in China. They are then bringing the products they make into US, pretending to be US companies - not paying import tariffs. Then, the profit they make, is hidden in plain sight on various islands - while the Government is short on money! Nobody has the authority to put these tax cheats in jail, nobody has the courage to put the crooked bankers in jail. Just the opposite! They are the ones telling us how to fix the mess! Obama has failed the first day of his Presidency, by not telling US people how bad things really were. He played along with the big guys who made the mess, hoping they are smart enought to fix it. He was utterly wrong, and now is too late for him to complain that he inherited the mess. It may be the truth, but he made a conscious decision to OWN it. All of us are in this mess we have not made, but still the wars and hundreds of expensive overseas committments are kept protected from the view of the public. So, instead of the Government RETURNING money it borrowed from Social Security, it will act as if it is SOCIAL SECURITY that needs fixing! We are grand fools, and deserve all the disrespect politicians heap on us.
Stephen... we're at peacetime... really? Where have you been since 2001?
To Dick Dover
Revenues did increase, but not as a result of lower taxes. You suggest a causality when there is none. Revenues would have increased in any case, and certainly more so had the tax cut not been in effect. Shrub's eight years was nothing but a windfall for the rich and a burden on absolutely everyone else, now and for years to come.
It is useless to blame one camp vs. the other. They are both wrong. When Bush went to war, I didn't see the democrats objecting (till after it was too late). The republicans didn't seem to care about the debt back then. Obama has no problem devaluing our currency. The only person who had integrity and who was able to forsee this problem is Ron Paul.
Dear chuck in Jasper, GA:
Why don't you try a polite reply instead of resorting to name calling and insults? Makes you "look" small and petty.
Wrong, but Marxist Theory does explain how we got where we are and where we are going.
There seems to be some confusion afoot among the masses between Marxism and capitalism. Thanks for at least trying to straighten people out – although I would not expect a high success rate.
Yup, what is scary is that the US seems to be going exactly in the direction Marx says it will. Small business getting pushed out by the corps, and a move toward a two-class society.
We're living is Bush's third term right now. Marxist? Don't even suggest that "socialism" exists anywhere in our economic model. The meddling of the Tea Party is what caused this impasse.
Obama's first term is GW Bush's third term. What has Obama done that GWB wouldn't have? WAR = $$$$, WAR=$$$$!
Are the American taxpayers happy that they spend their money on endless war? No, they are too busy sniping at each other and defending two parties that are both h*llbent on destroying this country.
Look this was Obama's agenda all along destroy everything you have and bring America down and to qoute Van Jones his ex-czar, "we need a new system." If you don't believe me listen to Van Jones.
OMG and you believe this crap? You need meds NOW, just like he does.
U need ur Meds ...and yeah u can jump off that cliff .. this is whats wrong with America we believe in Lunatic Fringe dum azz more then the learned and intelligent people who can do some good .. i mean we have to go into ditch completely to wean these trash bags out of our public lives
Exhibit A as proof that article is correct.
Fareed is wrong. The downgrade is hostile action by an insider trading group of criminals who belong in jail.
I can't believe you put an Idiot like Gomer Pile up as a fact check.
You need to see a doctor Dirty Sanchez
Freshman Tea Party Republicans have managed to put the reputation of the United States in the world toilet in a mere matter of months. They should be taken behind the woodshed and given a good beating, like the stupid punks they are. And don't say who cares about what the world thinks, its us we should care about because we are all in it together. Electronics and instant communications have broken down all borders, we can no longer be an island. If you don't know that yet, get an education, read, but for heaven's sake stop reacting to your gut feelings. They stink.
Even Fox lost this guy because he was too stupid. I'm sort of hoping Steve Doocy and Elizabeth Hasselbeck follow suit, but my lord, the guy was an ex-host of a morning radio show, complete with sound effects, bad jokes, and "jokes". He's an actor. He doesn't have political or educational ground to stand on. He's a hack, but people are easily malleable.
OMG! You are actually invoking a guy who should be wearing tinfoil on his head in order to filter out the alien transmissions in an attempt to bring "Facts" into an argument? How should I respond? By linking to a Keith Olberman diatribe? You have demonstrated the problem perfectly. Intellectually lazy people who blindly believe anything they are told without question simply because the person is telling them what they want to hear. This article is right. Congress isn't the problem. Uneducated voters are the problem. Read the hate, stupidity and personal attacks being written on this board. No different than congress. Want Congress to work? Impossible because Congress is a true representative of the American people. These boards with the insipid posts and name-calling and constant whining about about being a "victim" of the other party is what America is today. But seriously. Invoking Glenn Beck? Seek professional help.
Just fyi... Obama is not the first president w/ a czar... morons. OMG THE REST OF THE PRESIDENTS ARE COMMUNISTS!
Good people of America, Please, please understand and critique the information that is beamed into your lounge rooms. This is easily done by checking with other news sources, not only from America but from around the world. Just flick a channel or go to some foreign websites like BBC, etc. This guy is only peddling an agenda!
The Federal Reserve has the ability to make money, not the US Treasury.
This exact thing is the problem. You, the U.S., have created a rigid dichotomy between your populace that is as dangerous to your society as the divisions during the Civil War. As destructive as that time was, as painful, as debilitating, this new war is capable of being. But this time, it will be based on nothing more than propaganda and manipulation by the powerful on the minds of the fearful against the will of those who would get in the way of a profit that is far and away outside of what you've been taught represents the free market or any kind of freedom.
Stop seeing the enemy in the eyes of your brothers and sisters, stop taking your only advice from the very very rich, and for the sake of your future learn to examine what is in front of you rather than just believing everything said in the name of the flag or G_d or your political party.
This is accurate and well-put. Thank you.
Well said.
Hit the nail on the head.
@ofCanada Best post I have read in a long time.
Listen to the Canadian. They still have an AAA rating. Their foreign policy says "Let's mind our own business and take care of our own," not "Let's spend money we don't have to find WMDs that don't exist." The U.S. has sold its soul to the corporations and the super rich. Our government no longer runs the show. Our Congress kneels and quivers before the special interest, never daring to turn down a bribe — even if it means innocent Americans will face hardship or death.
Very well said. thanks.
Yes sir. America has brought absolute shame upon itself.
PLEASE EVERYONE READ OFCANADA'S POST. Instead of fighting among each other lets focus on what massive corporations are doing to our country and how they're buying policy in our government.
Hear Hear good comment , be prepared for the loonies to come out yelling "socialist" "foreigners" "Europeans", everything but a rational argument.
Absolutely..I count my blessings daily that I'm Canadian..not for bragging purposes..I'm sure there are alot of Americans who would disagree..Canadians too..however, I must stress that the deregulated markets has left the door open for a nightmare scenario. And its so very true that the extreme polarization is baseless..I mean, what has really changed and why are opinions so extreme? (lets face it..its from the right..everyone condemns both sides, but in all honesty, the right wing of American politics has brought things too far..they had there chance, but out of greed they want to run the country in perpetuity and abolish the left..Scary Thought..Also, through this greed, they have infused in the minds of American voters, that Obama is somehow a bumbling idiot who can't run the country..Wrong..He is a rarely gifted individual who has been unfairly attacked vehemently in the spirit of racism...One thing he is not is stupid..and I think he's honest as far as politicians go..far more so than George Bush..Republicans are only out to save themselves and destroy all others..that's the same line big corporations use when it comes to saving their huge bonuses..to heck with everyone else..Greed has manifested itself in sick and twisted ways..Of course taxes should be raised on the rich..duh..how do you run the country otherwise..and another thing..how democratic is it that filibustering is now so popular? How can legislation be changed when such obvious abuses are taking place in the system in favor or polarization? Its sick, disgusting, disturbing, scary, etc, etc..the Lengths some will go to to further their own agendas, and the American people be damned..sad..god bless you, our neighbors..and please...think twice before you vote for the Republicans and especially any extremist tea partiers, or perhaps a democrat you think is untrustworthy..what they call freedom might not be something you recognize or would want. Taxing the rich won't hurt the economy..its all smoke and mirrors...when you vote in 2012, vote for this.
This is so true that there is really nothing more to add. The US really need to re-think the system and to update their monatary and financial mechanism to the evolution of the global economy; otherwise this fall off will go on till heating the bottom. The situation does not look good at all. Good point again.
Obama got us here. He's been downgrading America every chance he gets.
People who are fighting tooth and nail AGAINST Obama are the problem. Some people would rather watch the country fall apart than admit he's a good president.
It's not totally Obama's fault. Deficits (the debt) has been going on long before he stepped into office. Obama inherited an impassable quagmire from Bush. We need to stop arguing with each other, abolish the 2 party system, end the wars, bring the boys & girls back home and reinvest in the USA!!!
Actually sir, you have been propagandized by well funded wealthy people. BUSH II screwed the pooch big time along with his like partied congress. If you cannot understand facts I suggest you move to – fantasy land.
Don't try to pull the wool over our eyes. This problem stared in 2003.
This is an irresponsible, misleading statement. Do you have anything that is intelligent to add?
you should learn what it means to be an American first..
President Obama is continuing the policies of past Presidents. No one can be elected into that office unless they have sold out to the money controlling our government. Please, think about this: do you really believe the corrupt powers are going to allow a President to undo their long sought achievements? Most of the candidates who want this high office are also sellouts. Ron Paul and Mitt Romney are the two who possibly are independent. You can bet neither will be elected. I would like to see all new elected officials from both parties. Also, not likely to happen.
NO! it was congress and its shinanigans dealing with the debt ceiling crisis. After that fiasco it is clear to the world that congress can not deal with the issue in a constructive manner with many members saying "shut her down". Sorry, not the way to go on the public stage.
Bush burned down the house
and republicans scream Obama started the fire
Just amazing.
Is that what your radio told youj to think today?
Kevin, you are a complete imbecile. Only fringe freak economists, and right-wing ideologues, believe that garbage.
Fareed's article is 100% on point!!! I can not fathom how anything productive could get done in this political atmosphere. Neither facts, nor polls, nor the opinion of experts makes a lick of difference. The politicians have to orchestrate a massively choreographed dance of nonsense to produce a pathetic little nugget of legislation that does nothing to improve our situation as a country. But to their defense, if they don't, the Limbaugh's, Schultz's, Beck's and Malloy's of the world will eat them for lunch and turn their base against them. Potential solution? Lower the standard for defamation against public figures, and remove the legislative exemption for defamation. The result would be the requirement of truth and commonly acknowledged facts rather than the prevailing nonsense.
The twin bridges of India and USA that lead all of us to Cuckooland.
Fareed is a socialist sponge who should return to the country he came from. america was not built by a group of sponges
It is not in their political interests to do what is best for the citizens of this nation. They do what is best for the money that gets them elected.
WOW!! Those are some quality replies. Stay classy.
Wazmataz: not sure what a sponge is, but I think America was built primarily by slaves...and the Chinese tackled the railroads...its called history..
This type of hyperbole, purposeful misstatement, and selective memory (and loud mouths) of the ultra-right and corporations in this country are more dangerous than a dozen Obamas and a dozen Ws put together. If we can't get beyond this type of garbage we are never going to make any progress.
Marxism got us here or democracy got us here. Make up your mind.
....Obviously you don't know what marxist policies are.!
Maybe actually learn what "Marxism" means before using the word.
If you know what Marxism really is so well,why don't you enlighten the rest of people?
Markism, theorized by Karl Marx and Friedrich Engels defined symbiotic actors named the proletariat and the bourgeoisie who defined a government structure which would correct the problem of the majority (business owners – bourgeoisie) who provided 7% of the effort enriched the ruling class (proletariat – workers) at their loss. The idea was to provide compensation equal to the effort put into the system. Capitalism produces the bourgeoisie income imbalance. After a point the poor and downtrodden revolt – USSR and Cuba as examples.
It is the lack of broad knowledge that makes the parties, the economic/ financial systems and government unable to find the solutions to the real problem. Such broad knowledge can only be produced by long-term synthesis, and this method is not used at all ... It is like trying to repair a complex engine with prayers and tools from the past.
So, the only way to solve the problems without being stuck in irreconcilable opposing views and poor/ speculative views is to start using again the method for long-term synthesis ...
The US will never change as long as corporations can buy laws. If a judge takes money to influence his decision he goes to jail. He interpits the law so it is criminal to influence him monitarily. However, the people that make the laws are for sale and it is legal. Lobbest should only be allowed to push paper. If they buy a legislature lunch, they go to jail etc.
It is humerous that we don't hold the legislature to the bare minimum standard of bribery
"Unhappy events abroad have retaught us two simple truths about the liberty of a democratic people. The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic State itself. That, in its essence, is fascism — ownership of government by an individual, by a group or by any other controlling private power. The second truth is that the liberty of a democracy is not safe if its business system does not provide employment and produce and distribute goods in such a way as to sustain an acceptable standard of living. Both lessons hit home. Among us today a concentration of private power without equal in history is growing."
- President Franklin Delano Roosevelt
Thank you Buddy R.
Often quotes from historical figures offer reflection. Quite possibly some of our federal elected officials [I will NOT call them leaders] will take some time and think about what is best for this republic and its citizens, not political affiliation or PAC's.
What is most deeply troubling is that you probably actually believe the mindless insanities you are spewing. And that is what got us here.
Even if you are a paid right-wing troll, have you asked yourself, deep down when it's only you in your underwear looking into the ten-o'clock shadow in the bathroom mirror...Knuckles dragging on the floor...Why it would hur the country so much to repeal the Bush tax cuts that threw the budget into deep red ink?
Or why it was acceptable policy to cut taxes while spending a trillion and a half dollars on a war in Iraq - but suddenly, it's horrible government policy to go into the red to bail out Detroit and the banking system?
Most of us who are rational see the need for a combination of deep spending cuts and increases in tax revenue. There really is no way around that if one's objective is to solve the budget crisis.
But your objective seems to be different. Yours seems more like that of Al Qaeda...to bring down the US government.
So who does pay you to be a troll? Is it the right wing or Islamic militants?
If you are indeed an American, I accuse you and all your ilk of sedition and treason.
OBAMA continues to push the
Dead Horse method of management ...
The tribal wisdom of the Indians, passed on from generation to generation, says that, "When you discover that you are riding a dead horse, the best strategy is to dismount." However, in government, education and often in corporate America, more advanced strategies are often employed, such as:
1. Buying a stronger whip.
2. Changing riders.
3. Appointing a committee to study the horse.
4. Arranging to visit other countries to see how other cultures ride dead horses.
5. Lowering the standards so that dead horses can be included.
6. Reclassifying the dead horse as living-impaired.
7. Hiring outside contractors to ride the dead horse.
8. Harnessing several dead horses together to increase speed.
9. Providing additional funding and/or training to increase dead horse's performance.
10. Doing a productivity study to see if lighter riders would improve the dead horse's performance.
11. Declaring that as the dead horse does not have to be fed, it is less costly, carries lower overhead and therefore contributes substantially more to the bottom line of the economy than do some other horses.
12. Rewriting the expected performance requirements for all horses.
And of course....
13. Promoting the dead horse to a supervisory position.
That is a very accurate description of how we do things these days. Very!
LOL ROTF! Thank you for these higly insightful and entertaining points!
Howard, all true
but replace the first line with "GOP" and you nail it.
Dream on Dork... the incompetent Bu sh administration and republican congress gave us the lions share of this mess. And republican ignorance continues it. We needed a larger stimulus but the party of no blocked everything. Now add the teaparty delegates who are clueless.. Any Congressman or woman who takes a pledge restricting our Gov't from doing essential work are traitors, Thanks to the right wing redneck fundamentalists this great Nation is on it's way to becoming a banana republic.
True. Bush 43 did start the ball rolling. But Obama, Pelosi and Reid have raised goverment spending another 24% in just the last two years. BOTH parties are to blame. and both must come together to fix it. I am holding out little Hope for that Change.
Marxism did not create this situation. Stupidity did.
Farid....you socialist are the terroroists........you want more money.....and your group has spent all of it......learn how to live on your own......quit being such a sponge. AMERICA WAS NOT BUILT BY SPONGES......IT WAS BUILT BY AMERICANS THAT COULD WITHSTAND BAD TIMES ON THEIR OWN TWO FEET. ... with mind and muscle.....go somewhere else to preach your socialst GARBAGE. and pull your cabeza from your colon
News flash for ya: everything that's happened to create and build this country has happened because of government intervention and welfare. There was not one person in the pioneer history of the country who was not enabled by the government. The concept of rugged independence is a myth - it was people taking free land given to them by the government after the land had been possessed and cleared by government, using slaves in many cases, creating farms using government-supplied water from government-built reservoirs and pipelines, running cattle on land that had been cleared of buffalo by government-paid hunters, selling their goods using government-built roads or railroads built by massive government subsidies of many kinds, profitable because of government price subsidies. The whole history of the American West is a story of massive government welfare and subsidization.
Buddy R, it's easy to throw words around. Got a solution that won't harm the country more than it has already been harmed?
Keep dream Buddy, thanks to the GOP stonewall over the past few year, we never got those Marxist policies you are so ignorant of....
Marxist? We're living is Bush's third term right now. Don't even suggest that "socialism" exists anywhere in our economic model. The meddling of the "Tea Party" is what caused this mess.
Interesting quote. Interesting to see the blame game comments too. I noticed, however that you did not lay this at the feet of any party or president. It seems to me this movement has been going on for decades and Franklin was correct. People kept voting in the best bloodsuckers and that's what we have at this point.
Well, uh, the public isn't really getting to vote on this nor any government budget.
Its the "lifer" politicians like Sen. John MacCain who have never had to work in the private sector
that make the budgets and implement stupidity upon stupidity.
Remember Jesse (never had a job) Jackson????? The media was always running to HIM as if
we could learn something from a guy who never held a job in all his 60 years of adulthood. Same for
government. None of those fools know what they are doing.
Some one mentioned that McCain had never worked in the private sector. That may be a misstatement since he did serve in the armed forces and spent 5+ years as a prisoner of war. Don't disparage the name of someone who has likely done what you have not.
This has nothing to do with "Marxist policy". The US system of government functions this way because it was designed to. Changes happen slowly when the Congress isn't aligned together. It's pretty rare that something goes through Congress quickly- usually some sort of unifying situation (war etc) is the only thing that will get Congress to move quickly. Unless one party controls both Congress and the Presidency, things move slowly – sometimes including paralysis- and this is by design. It's one of the flaws of the US system.
Marxist, Communist, etc. These are personal attacks from radical, historically obsoleted, individual trying to create stereotype of other people with dissenting view.
"fareed" was one of those calling for the "tea partys" destruction so there is no reason for him to be pretending to be the middleman now. oh yea he's a corporate news puppet nevermind
“When the people find they can vote themselves money; that will herald the end of the republic.” Benjamin Franklin. Bullseye quotation for the USA today. It is unfortunate that Americans cannot process facts and evidence, but instead resort to partisian arguments and misinformation. Wise old Ben Franklin gave us a preview of what to watch for. Our system of government has failed at all levels, yet the public accepts even overt refutations of representative responsibilities. Americans have lost the ability to debate, to communicate, to negotiate intelligently, and the will to cooperate effectively. What a sad gift to my children....
Sad, but very very true.
Right On, Buddy! Once the powerful and rich found they could vote themselves tax cuts and spend infinite amounts of corporate profit to but elections, the country was doomed. Reagan, Bush, Bush, Boehner and Cantor ... Marxists all. You called it square Buddy!
No, stupidity got us where we're at. You can blame the republicans or the democrats all you want... I blame both. The sooner people realize senators and congressmen are only after what benefits them personally (or benefits the lobbyists who give a them a generous kickback), the sooner people realize that the time has come for the nation to stand-up and physically remove these idiots from office.
See, this is just what they want.... the populace bickering over which party is better (or worse); knowing full well we'll keep bickering while they flush our country down the toilet.
While I hate to use a slogan like "take our country back"; it's just exactly what we need to do... by force if necessary.
I'm in... are you?
Nice one.
Obama entered office with a super majority in Congress and they went straight for their Keynesian/socialist spending agenda. What a bunch of fools. Who couldn't have predicted in March 2009 what is happening now except the idiot anti free market liberals?
Hey earth2loons
Free Market- giving money to businesses that fail (investment banks, Wall Street, and the auto industry) while their management bonuses increase..
man...you are too looney to even be in the "cuckoos nest."
Obama may have entered his term with majorities in both house and senate, but the party of NO filibustered 80% of all legislation....and they still continue to act like they have the majority, and continue to run counter the will of the people.
Typical GOP garbage.
Bush starts 2 wars off the books.
Obama puts those wars back on the books
and Republicans SCREAM about his out of control spending.
But that was "BUSH" spending.
Then Obama has to spend to keep this country from a depression and they SCREAM some more.
Months before his term ended Bush was still telling anybody who would
listen, that we are "not" in a recession, but we know better now.
Teddy Roosevelt
"This country has nothing to fear from the crooked man who fails. We put him in jail. It is the crooked man who succeeds who is a threat to this country."
A lot of crooked men (the bankers, Wall Street, the auto industry) failed but are not in jail. Instead we rewarded them with corporate welfare. And their bonuses keep getting higher.
Boehner is saying we have got to stop stealing from our grand kids. Reid and Pelosi say we must continue stealing from them, just at a slower pace. There is no credible argument to continue the stealing. Stimulus will not work in a deleveraging recession, so we should not do it and steal more from the grand kids.
I don't know why anyone gives a crap what Fareed thinks.....
ZSK Fareed have more brain and education than you and your tea party crowds. People like Michele Backman, Palin , and Beck, are your future leaders . GOD BLESS USA. Good luck .
When you dont like the message
shoot the messenger.
Please, no new taxes. Taxes are already too high. No more wars, laws, or regulations w/o enacting add'l tax revenues or cutting other programs to pay for them. That would put a pretty strong break on such things. If anyone in the Bush Aministration had told the public the likely real cost of invading Iraq, it would not have happened. Obama is no better. Why are we still in Afganistan: nation-building? America is crumbling from within.
Taxes are the lowest they've been in 60 years. It's a fallacy to say that taxes are too high.
ok "buddy"......please post a PRINTED COLLGEG DICTIONARY DEFINITION OF......."MARXISM".....then come back and tell us AGAIN how stupid and ignorant you are
we need to start to value the healthy and the young in this nation. we give a majority of our money to old ppl (SS) and medicaid/care. Ration what we give the old... let the young eat the best meat. It works in the animal world very well. I dont care about the sick lame and lazy.... The working are number the one priority and government better just stay in the background or if they start to cause trouble then get out of our way.
You are just too stupid for comment.
Marxist policies? Do you have any real idea of what is in Das Kapital? The basic tenet is that capitalism is simply the exploitation of labor. Do you REALLY see that going on here? Does labor (as represented by unions) have any significant impact on public policy, particularly relative to that in the past. Our ox is in a ditch NOT because of ANY identifiable ideology, except the one of greed and power hunger.
It is uneducated, ill-informed, right wing talk radio listening dilettante statements like yours that has been allowed to frame the current political discourse, particularly from Republicans/Tea Partiers, and NOTHING will change until the people smarter than you (and I would dare say, they are legion) are allowed to work to solve problems, not demagogue them. And yes, I am a political conservative, but one that can think.
Perhaps the partisan politics could be thwarted with term limits in both houses of congress.
The whole world is watching America and its politicians. They look silly and stupid especially so called TEA PARTY and conservative Republicans.
Sounds like that Franklin guy had some pretty astute thinking. For the economy to avoid collapse, people (including the bottom 40% of the country which holds 0.2% of the wealth according to one stat that I didn't verify) will have to vote to have fewer resources sent to themselves and their loved ones by the government which will likely mean reduced health care options and more simple lifestyles. And people will have to vote this way repeatedly or until such time as a balanced budget amendment is passed.
Do you even know what Marxism is?
Right you are ! We've got a Marxist in the White House and a brainless irresponsible suck-up congress that just can't say "no" to more spending for solving everybody's problems that they are supposed to solve themselves.
This isn't funny anymore. We can no longer afford to give the Marxists in the White House the benefit of the doubt and naively hope their intentions are good for our system. We have to assume the worst may be possible and remove them from office the very next election before these Saul Alinsky acolytes and unrepentent Weather Underground fellow travelers can have any opportunity to do any more harm. We can no longer afford the luxury of entertainiing their presence in our government. Their presence in the White House hangs a big question mark over what the real intentions our our highest government officials may be in the minds of our creditors.
BF was trying to tell us something, but we refuse to listen. Government cannot be everything to everybody. Personal responsibility is the foundation of this country. A man providing for himself and his family, and temporarily helping his neighbor when necessary and vice-versa. Both men sharing the sense of responsibility, and understanding help is a gift to be paid back. Now, help is an expectation. Some men expect others to take care of them. To provide for their own families as well as others. No personal responsibility exists. And, so many do not expect it. We had a great run.
great non-partisan article..
http://www.informationclearinghouse.info/article18568.htm
teabaggers in the house were hired to do the dirty deed for the mega rich and huge business who have had a free ride, thanks to bush, continue to syphon $$$ out of our country, refuse to hire and are ruled by greed. greed. tax the heck out of these folks if they are using our country as their office and refusing to use us as their staff. tax big time or kick them out and they can take the teabaggers with them, they need someone to carry their luggage.
Hey Buddy, is that rush talking point 108 or 118?
Bush Spending 1.6 Billion a day
Obama Spending 4.1 Billion a day
We do not have a tax revenue problem we have a spending problem and the Democrats keep getting votes from the lower 50% that do not contribute. Our corporations are taxed at 35%-39% while the rest of the world is suually around 25% so they have to outsource jobs overseas to compete. The Democrats just do not get it but they have the votes of people who are jealous of others who have done something and are successful. That is the problem.
Yeah, Marxist policies got us in this mess. If that's the case then so did Free-Market Capitalism. Massive tax breaks and the lowest corporate tax rate since before WWII allows the largest corporations in America to ship millions of jobs overseas, claim no income tax by using tax havens, and reporting the largest profits quarter after quarter, and yet, the American people see no reduction in cost of goods and services, and the wealthy get ever wealthier and pay very little in taxes by income compared to the middle class. No taxes coming into the government means less money for the budget. Cutting spending is a start, but you have to generate revenue and cutting taxes will NEVER generate enough to make a difference. All it will do is give the wealthy and corporations more money to line their pockets with. THAT is what is strangling the economy. If the top 5% of wealth holders own 80% of manufacturing, property, and service industries, then they need to start paying for the government that allows them to operate.
Actually, it was the free market that got us into this mess. Do you recall who the bandits in the mortgage crisis were?
Americans, Americans, Americans!
Almost every now and then, America is experiencing new problems and challenges, but all America seem to do is bicker and apportion blames. For now, America has been hindered by divisions amongst her people, making it almost impossible to summon a united effort that would remedy those things that have plaque this great nation for years. The brains needed to find the necessary solutions are available in America. So now, what's the delay?
You need to wake up and start protesting as done elsewhere in the world,
If those old men(republican/democrat) wont start working and stop the nonsense and, you and your children going to pay for it. The media as the blame also due the fact they have been manipulated.
Start protesting din't wait to year end, we have seen it was stupid for the ceiling decision, and by waiting till the year end it is sure you down grad to A only from AAA.
Do not worry. As soon as the military leadership realizes that they have drones that follow there will without question. They and there decedents will occupy this land for the next 1000 years.
How much does it pay to spam garbage for the Right-wing? Do you have bonuses if you manifest 7 days a week in front of the White House?
You can bicker back and forth all you want about whether increasing taxes increases revenues. But no one can argue that our spending has grown. It is the growth in spending that has caused deficits which have grown the debt to close to $15 Trillion now, and growing to over $21 Trillion in 10 years. And, remember this $21 Trillion occurs even though the Bush Tax Cuts expire (meaning higher taxes).
Schools don't teach kids in the US survival skills- every child from grade 1-12 should be required to learn how to grow food. One reason why the US is in debt is because we subsidize foreign food industries overseas, to the tune of nearly 600 billion a year. That's disturbing, considering the fact that we have the ability to grow more food, but choose not to.
1 buddy is a liar
2 buddy is a moron
we were warned of many of the destructive actions that would destroy the design and function of our country.
We have simply displayed to the world that a "Representative Democracy" does not work when party philosophy superseeds the needs of the people being represented.
If Bush's tax cuts increased federal revenues, then how did Bush add $5.5 trillion to the national debt?
I agree...Liberals for decades have yurn for US to be similiar to Europe. Now that we have been downgraded; Greece, Spain, Portugaul and Italy to just name a few. How is that change working out Obama followers?
Buddy R. You are exactly right. Fareed seems to think that we should have majority rule as per his comment about 10% minority being able to block legislation. He needs to learn more about our form of government. We are a representaive democracy, not a pure democracy. Pure democracies are mob rule, this prevents the minority from being trampled as the majority votes themselves the spoils of the government. As more people become dependant on government, our system will collapse.
no capitalism got us where we are. Im not sure you can find much if anything marxist in our country today. however if we had more fiscal compassion for the lower and working classes, instead of a semi-monarchy class for the wealthy, perhaps things would be better. but lets keep the bush tax cuts in place and stay the course, its always worked so well before?
a president is only as strong as the congress. if the congress dosen't want to pass anything, it doesn't matter what the presedint promised during his campaign before he became president. don't put it on the president.
Buddy. Kevin, Sanchez are idiot teabaggers.
Reading the postings here shows that it isn't just Congress in gridlock. If all we're willing to do is blame the Bushes or Clinton or Obama for all of our ills, we are missing the point. The job here isn't to point fingers, it is to fix problems. We watched our politicians create a crisis – the debt ceiling – and then take us to the brink before edging back. Both sides acted irresponsibly, and although we all seem to agree that gridlock is at least part of the problem, we don't seem to want to talk about solutions. (A note:, Yes, our debt level is horrible, but increasing the debt ceiling spent no money, – it merely allowed Treasury to keep financing what we had already spent. Yes, we need to drastically cut spending, but 8 members of Congress agreeing on what to do, when the entire Congress can't even agree to sit in the same room? Who are we kidding?. The only people who lost in this mess are the American people who have seen the stock market fall 15% in the face of the best economic statistics since before 2008. Gee, can't we keep our eye on the ball and stop having self-serving politicians pretend they are serving us when all they are doing is working toward the next election???
..Wow..it's 1955..lol
The financial mess we are in is because the collective government (and those who elected and support them) refused to act responsibly over a period of 3-4 decades. And when one party had the opportunity with control of both the executive and legislative federal bodies, instead of fixing the problem, they made it worse. To use Obama's analogy, the car was in the ditch when he took over - and he promptly drove it off a cliff with Reid and Pelosi and their supporters like Anthony Weiner shouting, "WOOHOOO!!!". The "80%" of major legislation that was filibustered would have been more of the same. Can you imagine the financial confidence problem if *everything* the democrats proposed in 2009 had gone straight through? How much worse would the picture be? He laments the tyranny of a minority, what about the tyranny of the majority that got us into this mess? Responsibility should be assigned to the root causes (and instigators) rather than those who are drawing attention to the fact that the Emperor has no clothes (and the Treasury is broke).
Aristocratic policies allowed the lords to crush the proletariat. Regan and the Bushies have made the middle class ask for cake to eat.
Aristocratic rule has allowed the rich to bask in the sun while the middle slaves in same. Reagan and the Bushies have crushed the middle class. Marxist?? You have to be kiddin'. Who has made a financial killing in the last 30 years? The top or the bottom?The lords have the peasants where they want them. Crying for cake! Storm the Bastille!
@Betty, you need to put the bottle down.
Perhaps you think that Reagan and the Bushes were commies. They are after all the ones who gave us this huge deficit (which the Repub gurus said "didn't matter" Reagan and Bush the first put everything on the credit card. Bush the Lesser gave everything away to the wealthy. Do you think that the Wall Street boys making mega millions every year actually do something worthwhile to earn it? I guess you get your "news" from Fox, the mouthpiece of the wealthy. MAYBE YOU SHOULD MAN UP AND START THINKING FOR YOURSELF.
Well, I hope the Tea Baggers and the hard-line Republicans are good and proud of themselves for dragging the country down like this. And don't go blaming everything on Obama. Good ol' GW bears a lot of responsibility for bankrupting our country with his tax cuts for the rich and two wars, one totally unnecessary. The people who created this false crisis on both sides of the aisle are to blame here and are, in every respect, traitors to this country. For anyone who thinks I overstate my case, here's the definition of a traitor: One who betrays one's country, a cause, or a trust. Those who created this situation have betrayed their country in the name of brinksmanship and posturing.
I will blame it all on Obama and Geithner, they put nearly 3 Trillion Dollars in Debt in two years, another trillion more once this fiscal year is over. You'd have to be incredibly biased not to blame it on Obama and Geithner. The bailouts and idiotic public works projects are nothing more than Economic Fallacies, do you understand the phrase? A great many economists were warning Obama, that the bailouts will absolutely achieve nothing, but also bury us in Debt. You people need to get a clue, about how an Economy actually functions.
You are correct. Get a clue. George W Bush started us towards the mess we are in. Obama? Just a man trying his best to clean up a mess but not strong enough to do it.
I'm afraid you're wrong. Convenient to blame everything on Obama and ignore the 8 years before that. That sort of extremism is what got us where are today.
@Steve and @Angus you guys are simply delusional. You can try to portray Obama as "simply a man trying to fix things" but it's clear him and Geithner are the author of this massive dysfunctional bailout, how could you honestly not lay blame on his lap when they authored the bailout? This is akin to surgically removing the wrong leg by a surgeon. If you don't ever comprehend the truth in that, then America truly is doomed.
Can't tell if trolling, or just very stupid.
Prove me wrong child. Did the Democrats add 3 Trillion in Debt in less than two years? yes, or no? Did Geithner and Obama based their Bailout plan on a faulty Economic Fallacy, that predictably did nothing for unemployment but bury us in even more debt? Did the S&P warn Geithner and Obama that they would downgrade the U.S if the spending trend continued, and nothing was done about it? Yes or no? Did Obama take this threat seriously, yes or no? Every administration "inherits" something from the previous administration, and a grown man deals with those inherited problems rather than try excuse his mistakes.
@IbnWarr – it's delusional to think the President has that much control. List the things he has vetoed in favor of bigger govt and more spending. Don't tell me TARP because that started under Bush. Seriously, what has Obama done specifically? If anything, he has not done anything – and simply caved to Republicans screaming "my way or the highway". I await your post...
ibnwarraq, you really are a gigantic, gaseous imbecile.
I'm not listing all of Obama's failed rescue plans, go troll his website explaining every nuance of these "rescue plans". For the record TARP did start with Bush, but Obama signed in favor of it also, if you're trying to wiggle him out of that TARP mess. Since then TARP has evolved into a number of other flawed programs that all fall under Obama's broader stimulus plan. For the last two years now, the Democrats had control of the House, Senate and Presidency, thus they are largely to blame for the 3 Trillion Debt that accrued the last two years. How could you possibly not accept that?
Did the Democrats add three trillion? No, imbecile, they did not. The recession caused by GOP ideology about deregulating financial markets added three trillion.
Deregulation? Caused the Democrats to overspend 3 Trillion dollars? ROFLMAO, what kind of green are you smoking?
If you blame President Obama for 3 Trillion dollars to save this country from a economic depression, then we all blame your boy Bush for two wars and oh yeah let's have tax cuts too! Oh yeah let's have tax cuts for the rich too. Yeah spend money crazy on two wars when only a serious man hunt was needed. Plus spend money like crazy and they cut revenues to pay for the war?????? Don't start we had eight years of bad financial decisions and just two years of trying to keep this country afloat and not sink the ship. But the tea party terrorist should be arrested for causing the worst credit rating ever and blackmailing the Senate into being obstructionist!!! The Terd Party, that crapped on the this country!
Half-wit, they did not overspend $3 trillion. Revenues declines nearly that much due to the recession caused by the GOP and their anything-goes financial non-regulation orthodoxy. Seriously, if I were as dumb as you and the rest of the teabaggers I'd blow my brains out for the good of the gene pool. Oh, but I forget, you cretins don't believe in evolution either.
Here's a nice charts for you socialists clowns http://www.zerohedge.com/sites/default/files/images/user5/imageroot/draghi/Obama%20v%20Bush.png
Down Syndrome Poster, if you know that your Revenues are going to be lower, why would you ratchet up your spending? An idiot would, and that's what Obama and his cohorts in Government are. You'd have to be a moron not to see that.
Pulease what's your IQ? 110? I can tell.
Liberal=retard, lol how difficult of a concept is it to grasp that the Politicians in control of Government just might be responsible for the huge debt they racked up, and the consequent downgrade from S&P whos warnings they ignored?
I am absolutely amased that IbnWarraq believes his flawed logic... it's like he blames the rising water on a flood instead of the rain that caused the water to rise! If the shiny new Obama administration (in 2008) did NOT vote for bailout tactics to buoy our entire economic base, we'd likely have 50% unemployment, massive numbers of people standing in soup lines, rioting and flaming toads raining from the sky! Yes, they kicked the can down the road for a couple years, but what else can you do when 8 years of horrendous policy and the worldwide elite are raping the planets wealth (higher food and gas prices) from the poor schmucks who try to go to a decent paying job every day, pay their bills and generally fuel all economies buy living paycheck to paycheck??? I believe that people like you just want to point at the black man in the white house and say "he stole my american dream" and completely disregard anything that happened before 2008. How about this... we the people demand a full audit of every politicians net worth in 2000 and compare it to 2008... I can pretty much bet that Dick Cheney is a whole lot richer. Who do you think benefitted from the "Bush tax cuts"? hello? /end of rant
So Obama's expenditures were all completely wasted buy GWB's were not? Obama's gov't. expenditures saved our country from entering a 2nd Great Depression! Also, we still have our automotive industry thanks to Obama. If that had gone up in flames, all of it's support industries would have done the same. 2nd. Great Depression. I see a lot of bad roads being worked on right now thanks to federal dollars. Let's put all those guys out of work....Sub-par effort at attempting to use your brain there soldier.
Blah Blah, admit Obama's huge role in this Crisis and then we can move on to Bush. Otherwise I don't value any of your opinions.
Public Works to lift us out of economic crisis? Why don't you read some essays by Frederic Bastiat on "Public Works" and read the Broken Window Fallacy as well. That's what it is, man, a fallacy. Milton Friedman said something like the Government Destroys 100,000 in Net Jobs when they Create 20,000 Jobs through Government. This is why we oppose these Policies, and not because of some "Rich" worship that you sheep seem to think.
Do you not realiize the money the Obama Administration is spending, for the most part are the wars and Medicare supplements Bush started. The damage Bush created is STILL with us. It didn't leave because he left office.
Isn't it time that Americans stop blindly blaming / supporting the two parties? Politians are in politics not for love of God and country but for themselves. Stop expecting them to act otherwise unless you, the people, hold them to account. You have the channels, the freedom and the right to hold your elected representatives accountable for the manner in which they run your country. Accept that the glory days for the US are gone. Stop beating up each other on the blogs. The name calling and talking points are useless. You need to band together as you have done so many times in your past and find a way out of this mess – together. Democrates and Republicans alike are out of work and are suffering. This isn't just Obama's fault or Bush or Clinton or Reagan. This is America's fault. Take collective responsibilty for where you are. You are not spectators in this mess, you are participants. Until you recognise this you will continue your slide into the footnote of history. You are better than this.
Did GW Bush begin his term in office with a surplus? Yes or no? Did he leave office with a deficit? Yes or no? Did he order the invasion of Iraq? Yes or no? Did he order the invasion of Afghanistan? Yes or no? Did not the FDIC activate the "Temporary Liquidity Guarantee Program" (TARP) during the GW Bush administration in October, 2008? Yes or no?
And answer 'arale's" revelations while you're at it. Some people will stick to the party line even when it leads off a cliff, to the poorhouse, or into humiliating ignorance. Go figure. Face it, President Obama was left with a fiscal, military and foreign relations disaster of unparalleled proportions by......you guessed it, or did you?
The auto industry bailout was largely a success (produced under Obama's administration) and saved a few large companies, over 100,000 jobs, and much of the bailout money that was anticipated to be paid back at this time has been. TARP was the "pump a lot of cash into the banks to produce liquidity in the hopes that they will lend it out to spur growth" failure (Orchestrated by Bush and Paulson). The TARP money is gone and will never be seen again.
Also, nearly $1 trillion a year in deficits since Obama took office are recurring expenses from prior to his presidency. Did Obama vote for some of the bills that lead to the recurring expenses that now cripple the government's ability to do anything? Some of them. But, most occurred prior to Obama becoming a US Senator.
I believe, Ibn, that your statement "Blah Blah, admit Obama's huge role in this Crisis and then we can move on to Bush. Otherwise I don't value any of your opinions." pretty much puts your perspective into perfect focus. Non-biased objectivity? I think not. The party line until Phoenix freezes over? Obviously. You don't value the opinion of others? I guess then you wouldn't qualify to be considered a liberal, an intellectual, or of much value in the arts and skills of compromise.
I seem to remember that the bailouts started BEFORE Obama. Our collective memory is pretty damn short now.
SDN your ignorance reveals itself, when you think there was actually a "Surplus"... when Bush came into office. This is the thinking of a sheep, but don't worry I will unsheep your mind. The Government puts these little pieces of paper called Treasury Bonds into another Government office. Each Bond is worth something like 8 Billion, 10 Billion, Clinton took money out of Social Security Trust Fund, replaced it with these I.O.U Bonds, took these hundreds of billions of dollars spent it on other things, then pretended he created a "Surplus". Because Debt owned by Government to another aspect of the Government (SS) is not counted as part of the National Debt....
Accounting trickery, only sheep think there was ever a real Surplus During the Clinton years, are you a sheep?
MRF, what you're referring to in the Auto Industry is what is called "Seen and Unseen" effect. You saw the Automotive Industry saved, fair enough, at a 14 billion dollar lost to Treasury. What you did not see was the true cost of the effort of saving the Automotive Industry. There is no free lunch, unfortunately. The damage caused by that act, is near impossible to track, but there assuredly was.
Ibn: Such acute, insightful, and compelling bits of wisdom as " It's scary how Liberals are so inane and clue-less", " This is the thinking of a sheep, but don't worry I will unsheep your mind", "@Steve and @Angus you guys are simply delusional." , "what kind of green are you smoking?", " You know absolutely nothing about what's going economically. You have nothing but "talking points" to offer.", "This is the thinking of a sheep, but don't worry I will unsheep your mind.", " Pulease what's your IQ? 110? I can tell.".
Do I surrender? Absolutely. Do I attribute any relevance or credibility to your arguments – particularly your respect for, and consideration of the opinions of others? Surely you jest. Am I i"ignorant"? No. Am I a 'sheep", No. Speaking of sheep, seems to be an inordinate number of references to this particular animal in your arguments. Just an observation.
Been a Mechanical Engineer for 32 years, have an IQ of 156, and hold US Patents. Shall I go on?
Please note the bank bailout was started during the Bush Administration, chief architect Hank Paulson. Also note that TARP is also the brainchild of Paulson.
Even your beloved Palin was in support of the bailout as manifested during that pitiful rambling of a response... it's all about jobs.
So please facts before you speak.
dummy...georgie boy's bills for TWO wars came due. haliburton wanted their cheney money.
Alright, economic fallacies. I have an advanced degree in econ, let me tell you what would have happened had we not bailed out the banks. The entire world economy would've collapsed. The big 3 banks own 80% of all financial assets, had they failed all smaller banks, and businesses alike would've failed and there would be no one left to pick up the pieces. Admittedly the stimulus was wrong, it went towards preserving jobs instead of creating them. The idea that letting an economy hit rock bottom will somehow help is a fallacy. It will become stuck at a low level of GDP and then you could experiences many decades of very high unemployment and human misery. But by all means keep brushing up on your tea party Austrian econ. Btw tea party economics doesn't have much in the way of economic models, forecasting or GDP accounting, it renounces math.
IBN, I do not put much credence in negative effects that cannot be tracked. A $14 Billion loss on an $80 bailout when economists and the Treasury were predicting a 60% loss is a win no matter which way you look at it. Again, loosing those auto industry jobs in an economy that was loosing hundreds of thousands of jobs a month would have been unacceptable. We went from 6.2% unemployment in 9/08 to 9.8% in 9/09 in one of the most precipitous declines in history. The auto bailout was an example of how a focused approach can work. Whereas the shotgun, free market, approach that was TARP, where the government just threw money at the private sector under the assumption that the banks know better than the government how to spend taxpayer money is an example of why you shouldn't expect significant tangible results by giving corporations a pile of cash (or even tax breaks for that matter).
IBN, to clarify my last post I am not trying to say that the government is fiscally competent, just that it has the ability to effect more profound and positive change if run correctly.
Of the $12.7 trillion in debt we're all arguing about...The numbers please:
"Big-ticket spending initiated by the Bush administration accounts for 12 percent of the shift. The Iraq and Afghanistan wars have added $1.3 trillion in new borrowing. A new prescription drug benefit for Medicare recipients contributed another $272 billion. All told, Obama-era choices account for about $1.7 trillion in new debt (Not insignificant but only about %13.4 of the HUGE number we're talking about here), according to a separate Washington Post analysis of CBO data over the past decade. Bush-era policies, meanwhile, account for more than $7 trillion and are a major contributor to the trillion-dollar annual budget deficits that are dominating the political debate"
Bush kept the wars off the books.
Obama put them back on the books, and you blame Obama ?
What the heck is wrong with Republicans ?
So bent on blaming Obama for what Bush did.
Its that easy to lie to yourself !!!!
Folks that voted for Tea Party candidates are reaping the results of their actions. The 3 trillion $ and probably another one, are the result of George W. Bush's policies..not Obama's. Please point the finger to the true culprits of the current economic crisis. When the Obama administration took office, they inherited the financial mess caused by 8 years of republican leadership.
BTW, I think sedition may be a better word than treason.
Amen.
You're on drugs....Obama and the Democrats are totally to blame for this fiasco. Their uncontrolled spending is what brought down our credit rating.
I'm not so sure. If the shoe fits, maybe a good number of those in our Congress should stop by for a fitting.
Moron. The Democrats had majority in Congress from 2007- 2010. In 2009 The Democrats had a Super Majority for 12 months and the White House. How do you think the Stimulus and Heath care bill got through with out a single Republican vote? Why didn't they address the debt ceiling a year ago? The debt was 10 Trillion in 2009 not over 14 trillion like it is now. Obama is already started a re-election campaign you can't be that stupid.
Ten Trillion...not an insignificant debt! The economy was so fragile by then, I believe Obama didn't want to bring it down further. Yes, this administration should have let all the big corporations that were in trouble go under...not bail them out. However, hind sight is always 20/20. Now we have a dysfunctional congress playing brinkmanship with our futures!
calcity...to say nothing about georgie's TWO unfunded WARS and his unfunded tax cuts....
Rhonda, I couldn't think of a delicate way to put this so I'll just come out with it: you are an idiot for thinking the Republicans did this all by themselves! The Democrats had full reins of the government for years before Obama came to office. When he took the oath, the economy, the debt, the wars, everything became his and the democrats' problem. Instead of taking sensible action to spur employment, he crammed that abominable Obamacare bill down our throats that will wind up costing us billions more than the way the system was! Obama's budget submission to the Senate was voted down 97-0 because it added trillions more to the deficit. The public is tired of "blame it on Bush", but this clown does not get it! He is a failure, a fraud, and a scheister! He is a disgrace to this nation, and I will take George W Bush over Obozo anyday. At least Bush knew what the h3ll he wanted to do. Unlike this turkey who just throws everything in Congress's lap then "comes to the rescue" when things fall apart. You like this idiot, you are an idiot, too!!!
"At least Bush knew what the h3ll he wanted to do".
That's the problem Gene, he knew there was no WMD and then went for the wrong target anyway. Bush lied to go to war and lit the fuse on this resulting financial mess... then bailed out. We won't forget that Bush, a republican, did exactly as he wanted (two wars, the bank bailout and Fanny May/Freddie Mac) for a very long, long time.
The program that you derisively call Obamacare does virtually nothing until the 2014 Fiscal year. It might sound like a great thing upon which to hang the current debt problem. But it has added virtually nothing to the 2012 budget, and not a single cent to the 2011 budget. Could there be issues, in the future, with medical costs generated by this program? Possibly. But that is largely because the cost containment provisions were eliminated by the GOP.
Ultimately, a dying person is going to the hospital for emergency care. There will be a bill. And someone, somewhere, is paying it. The bill does not disappear. The health care bill simply tried to establish a transparent protocol for pre-emptive care. In the end run, pre-emptive care is less expensive than emergency care. So the costs passed on to consumers and taxpayers would be less. I realize that Glenn Beck, Bill O'Reilly and Michelle Bachmann won't explain it that way. But that does not make it any less truthful
Gene, you sound like a lovely person. Instead of trying to discuss complex issues you prefer to call people "idiots".
Your arrogance is only surpassed by your ignorance. Congratulations.
Brian, according to the GAO Obamacare was a $1.2T 20 year solution for Medicare's $89T present value problem. What say we pursue the WHOLE TRUTH before we form our opinions?
Both parties have much blame to share.
true. What we forget is that this is decades in the making. The S&P report states that S&P distrusts the political system to get a grip on our debt. Said report states we need deeper cuts (so democrats get over your protectionism of social security and medicare) and a balanced approach (so republicans reform the tax code and get the right revenue stream in place).
We will recover from Friday's downgrade. S&P is giving us a warning... your house is in disarray, get it in order. We may not recover from the next downgrade and we will have no one to blame but ourselves.
IbnWarraq My 50-year-old Down Syndrome son has more brains that you could ever hope to have. Just your comment tells me what a moron you are but I'm used to all you fools.
I'm sure he could make a more intelligent argument than you can.
Come on, please offer something insightful.
The ones dragging the country down are the Democrats who keep spending and don't understand that the US Government has to live within it's means. And you sound pretty ignorant. Not everyone who disagrees with the Democrats is in the Tea Party. I hope the Democrats are proud of themselves for electing Obama as President who is no leader and is incapable of creating a consensus with anyone and has no plan of his own!
Cathy, you are 100% correct that we have to live within our means. Please blame Obama all you would like as he has not delivered change.
However, also please own up to the fact that your beloved Bush lobbied and sign Medicare Part D into law without paying for it. Medicare is the 1st or 2nd largest budget item and he expanded it mercifully with no matching revenue. Please explain how that is living within one's means?
2nd... Iraq cost us at least 1/2T dollars. This was a bogus war. Bush encouraged us to shop. How is this living within our means?
It isn't. Please don't be blinded by partisan rhetoric. The entire govt is at fault.
CATHY...you lack the intelligence of a worm...
The Democrats had a Super Majority for 12 months and the White House. How do you think the Stimulus and Heath care bill got through with out a single Republican vote? Why didn't they address the debt ceiling a year ago?
Because all of the other times that the debt ceiling was lifted (10 since 2001), the tea party wasn't there to politicize it and hold our economy hostage, like it did this time.
Reply to IbnWarraq:
I do understand that it is right-wing troll faith to believe that the bailouts were wrongheaded. But those who actually understand consequences and what the alternatives would have been disagree with you.
And yes, I do understand that every right-wing moron in the country believes that he or she knows better than those who make it their life's work to study economics, banking, international finance, and how these things actually work. But on that point - just as on climate change - you idiots are dangerously wrong.
Without the bailouts (which were started by Bush - a fact that you right-wing trolls conveniently skip over ) the country would have plunged into a much deeper crisis. The entire banking system of the US, and all the payrolls that go through all those banks, would have been put at risk. That is what happened in the 1930s. That is what the bailouts avoided. As costly as they were, it would have been worse.
Agreed.
Rhonda ... it appears that your BLIND devotion to Obama is preventing you from seeing that your empty suit messiah is responsible for our economic troubles ... no matter how much you, and Obama try to blame the GOP, BUSH, The Tea Party, and everyone else. And, Obama wanted to squander another TRILLION dollars, until he was finally stopped by his opposition.
General Electric is planning to move its 115-year-old X-ray division from Waukesha, Wis., to Beijing. In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research centers. This is the same GE that made $5.1 billion in the United States last year. but paid no taxes-the same company that employs more people overseas than it does in the united States.
So let me get this straight. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar). Immelt is supposed to help create jobs. I guess the President forgot to tell him in which country he was supposed to be creating those jobs.
If this doesn't show you the total lack of leadership of this President, I don't know what does.
Clinton and bush, both and congress (dem and republican) for passing nafta and wall street for scamming us and robbing us blind and now the tea party for trying to finish us all off. Obama has a bit of the responsibility but not much compared to all the above. The fault is much more heavily on the right but the dems did this partly, too, and I'm not happy with any of them. I vote for the lesser of two bads which is the dems right now. The corruption is politics is sickening and seemingly beyond anything we can fix.
This might be a nice moment of reflection for those in Congress. . .to now realized that they've got to compromise.
Unfortunately, your words speak of severe political brainwashing. The fact that you do not see that both political parties have worked equally to contribute to where we are now is the typical US response. Your love of one party while you bash the other shows that you believe that prosperty lies on a single set of ideas and principles. If you go back at look at history, you will learn that the best the US has ever had came from a diverse set of principles that depended upon the personal responsibility of citizens to make them work. This is a dying benefit of our past success but we have had a great run.
The tax cuts were for everyone not just the rich. Geez...people need to really buy a clue.
Give the addict more money to support his addiction. Makes sense to me...
You may be an expert on substance abuse treatment but leave economics to others please
CNN and MSNBC must quit blindly siding with Democrats and essentially providing propaganda.
FOX must also quit blindly siding with Republicans and essentially providing propaganda.
Reporters – do you freaking duty and call them liars when they are lying!!! Also point out their non-ending hypocrisy – again both parties!!!
All Parties involved deceived and lied – this includes Obama who is the biggest hypocrite of a President I can remember – been voting since 1980
Well according to Jeff Tonban Friday night on CNN the American people are to stupid to understand the downgrade from S&P to even care.
And he is 100% correct.
Eh, no. CNN is about the only remaining network with middle-of-the-road reporting. Fox is off the charts and plays on the ignorance of their viewers. MSNBC is only marginally better than Fox. There's a clever plan here, boys, to make the US owned and run by businesses. Take a look at the policies, the de-regulation, the fight against the EPA (regulation), the lack of blame and/or punishment for the financial crisis. It's well underway, lead by Republicans, with Democrats unable to grow a spine to stop it.
@Angus... RIGHT ON!
I agreed. CNN is the only news channel that I bother watching. The others are so bias that it makes me sick to my stomach!! It breaks my heart to know that so many American don't care about their country and the fools who are "running" it. I agree that Obama inherited a huge mess from Bush, but he needs to be stronger in handling this mess. I also think that the people who voted for the Tea Party and Republican candidates should not complain one bit when their Social Security benefits shrink.
Every democratic country has a goverment they deserve. Learn to vote or learn to accept resultals of your voting.
Zalek
That's right. The people have in office who they voted in office.... Well, with the exception of the 2000 presidential election.l
Let it go. The electoral college decides who is President. Gore lost Florida. The NY times, Miami Herold and the DNC all counted the votes after the election same result. Let it go.
Not us that did that. It was the administrations that kept on spending for programs that are unessential towards the governing and defense of the country.
This is very well said, and it makes me think of something else I heard this weekend, which was that the majority of senators and congressmen list "law" as their primary profession. When you consider that, it helps explain why we are in this predicament of constant deadlock. The majority of the people making decisions for us are professional arguers, they are more concerned with winning the argument of the day and the next election cycle. Our political system has been hijacked by two private companies (democrats and republicans) that employ squadrons of lawyers to fight for control of public money. The opinions and voices of reasonable people with actual expertise and ideas, scientists, doctors, engineers, are drowned out by the professional arguers that just know how to say things louder than anyone else can.
I heard that, too, from a guest on Bill Maher's show. At the time, I thought, yeah–he's right! We need more regular people like it was back when the Founding Fathers created the Declaration of Independence! They were farmers and shopkeepers and tradesmen...
So I looked it up. The occupation of law comprises 37% of today's total Congress (the House and Senate together). Of the 56 signers of the Declaration of Independence, 44% were lawyers. What a shock. I hope that doesn't mean we need more lawyers in Congress.
I think what's needed now are the kinds of creative minds the Founding Fathers had. At that time, the issues were extremely contentious, but they were able to come up with sensible ideas and...wait for it...compromise.
Zakaria offers a clear and honest assessment. The truth hurts, but someone has to say it. Thank you, Zakaria for being the one to do so.
All but the more money bit. They need to learn to spend less. Giving them more won't help.
Could you explain why you think spending is the reason the economy is not doing well? Governments typically run deficits during a downturn in the economy in order to stabilize the economy when private investors cut back on spending. How else do you explain personal credit cards and home loans? I am eager to hear you explain this.
I would like to respectfully disagree. I would suspect that those who earn many dollars spend less per dollar earned into domestic markets. Increasing taxes and moving this money to those less money, should then increase the number of dollars injected into the market. The ethics of this is an entirely different issue, however, if the economy does better, the rich should do better as well.
I am no expert though, so please forgive me if I am wrong.
Agreed. I would love to see Fareed putting his considerable smarts and experience to better use in public office.
So let me get this right – Obama voted against raising the debt ceiling in 2006 – citing 'doing so as a sign of failed leadership' to get in a swipe at the Republicans.
He then avoided recording a vote at all to raise the debt ceiling in 2007 and 2008....and yet his hypocrisy in these actions is never mentioned.
He helped sow the seeds for this most recent 2011 division on raising the debt ceiling with these actions and Dems know it or are choosing to rationalize why this is not relevant.
Again President Hypocrisy
Honestly, I suggest you take a step back and stop blaming an individual. You're getting suckered into a govt that cares only for big business and the rich. You stare at Obama with a jaundiced eye, but ignore the fact that a Republican lead Congress, and Republican lead states, are driving the money away from the middle class and to the rich. They're labor union busting, education busting, regulation busting. To pin this on a president who has done nothing but cave to the Republicans is pretty ignorant.
You know absolutely nothing about what's going economically. You have nothing but "talking points" to offer. Obama saddled this country with 3 trillion in debt, in his first two years in office. That's why we blame him, and if you can't criticize him for that, then you are simply ignorant. That's the bottom line.
Angus – explain Obama's sudden change of heart about the significance of raising the debt ceiling. Also, how about the fact that for over two years the dems were not interested in addressing this issue?(having all three branches of government). I wonder who would have been blamed by the left and the lame street media if Bush had failed to raise the ceiling. The left's hyprocrisy knows no bounds
Angus... Keep preachin' we hear ya! Alot of eyes need to be opened as to what is behind all this chaos! Spread the word to those capable of understanding and discerning the truth!
Ah another gaseous half-wit, trying to blame the deficit on Obama when in fact it's entirely the result of a recession caused by 30+ years of GOP ideology about deregulating financial markets.
Ah another gaseous half-wit, trying to blame the deficit on Obama when in fact it's entirely the result of a recession caused by 30+ years of GOP ideology about deregulating financial markets..
Angus is correct. Excellent points. All true.
Mark C. – unfortunately for you, facts don't mean anything; calling me names don't do anything (btw, I do have an Ivy league education, employ many people and pay taxes!). Hopefully one day you will be old enough (hope smart enough) to do the same. Just in case it helps you, while both parties are to blame for the current situation, this clueless administration has accelerated the process; what part of record deficits don't you understand? Finally you still haven't answered the question about Obama's and the dem's change of heart on the debt ceiling – are you going to keep on changing the subject?
comment comment comment comment comment!! Maybe the downgrade will teach Republicans to play ball. This has nothing to do with the President but the Senators and congressmen/women that choose to politicize America's future at every turn. Stupid is as stupid does and what even more dangerous than a terrorist is a stupid politician.
Agreed. The govt, and Fox News, has been unbelievably successful at getting people to ignore facts and go with sensationalism, and often outright lies. This is not a question of whether the govt should be bigger or smaller – it's about aligning the govt with fulfilling the needs of the country and the majority of the people, not the 2% richest.
Absolutely as was shown with raising the debt limit. Repercussions still in process...
Our government is broken because it's corrupt. Both parties, from top to bottom and unless we fix that everything else will stay broken. PERIOD!
Oh and I agree with everything Fareed says here
Here is the problem with not only the politicians but the news media that is codependent with them, they are both tone deaf to the suffering of real people. Americans are hurting right now with lack of jobs, lack of opportunities, lack of healthcare, lack of housing, etc. Meanwhile people like Zakaria talk as if it's all one big academic and philosophical argument. It isn't. People are struggling to make ends meet every second of every day and are waiting for politicians to do what they are elected to do. We vote but the politicians listen only to the rich. We vote and the news media only gives us the information that their corporate masters and advertisers want us to hear. Downgrade? The downgrade is merely a symptom of the downgrade the quality of elected officials and the news media that provide stupid soundbites rather than substance because some corporate tool decided that's the way to maximize profits.
I find it stunning that when an average American wants to maximize his profits by wanting to be paid a decent salary he's called selfish. I guess maximization of profits is only for the top 1%.
That is exactly the problem. From the Supreme Court allowing Corporations to vote with their money (like people), to the refusal to raise taxes on the 1% richest, to the constant pressure to remove all regulation – this country is run by Corporations for Corporations. And these Corporations have done a stellar job at getting people to point at Obama or liberalism or elitism rather than focus on what's really going on. No compassion for anyone.
Politicians only listen to the rich because the vast majority ARE rich. They aren't working 2 jobs and clipping coupons on the weekends to save a few dollars. They don't shop for the their kids clothes in clearance sections at Walmart or wonder if going to the dentist is a good use of their extra cash. Most of them make far more than the average American and any days of struggling they might have had are long behind them (if they ever existed).
Any resemblance of normality from them is simply crafty speech writing from a writer and coaching from their campaign runners. These people don't live in the real world. They live in Washington with an all-you-can eat tax dollar buffet.
Another excuse. Blame anything and anyone but the REAL reason; OBAMA and his team of idoits
Please get your head out of Fox News' *ss and look at the facts of what's going on. Good grief, no wonder we're in such sad shape.
Seriously you must be kidding. President Obama (I just use the respectful term to anger you) is NOT responsible for all of the world's problems. I realize that saying that undermines your only purpose in life. Yes, he should have been much stronger in dealing with your team but only a young child would suggest that he alone is responsible for an international economic crisis. He's not powerful enough to do so even if he wanted to. Try to calm down and think a bit, the world didn't begin 3 years ago.
From an idoit !!
Fareed, It is not "WE" that makes the decisions, it is not "WE" that make the policy, it is not "WE" that make the laws, it is of course Congress as they are the only ones assigned to do that task. If our government is broken it is because that is the way Congress wants it. The people do their best to elect officials to do the job, they make promises then they fall prey to the lobbyists, and Corporate policy makers. They listen to so called experts instead of the people and they vote themselves raises and Health Care, and retirement packages while leaving the rest of us out to dry. They are all it would seem self serving robber barons who spend most of their time doing what it takes to get reelected. Lets set term limits for them and do away with only for them benefit packages and put them in with the rest of the American citizens. Let's hold them accountable for what they do and base all of our decisions regarding them on actions not promises. We must take Congress down from their pedestals and put them on the same plain as every other citizen. Only then can we expect any real change to actually happen.
Only 17% of Americans think the Us is governed with the consent of the citizens. Only slightly more have much of anything other than contempt for Congress. No, it's definitely not "we" who are screwing things up
Term limits have their downside. Perpetual greenhorns in congress won't help. Part of the tea party problem is they are so um, new. WHAT WE NEED IS CAMPAIGN FINANCE REFORM! Anything else is just more of the same. Obama has presided over a large debt increase, BECAUSE the two wars are still going and the bush tax cuts are still ramping expenses up. He himself added 1 trillion to the debt to try to prime the economicpu,p and get some jobs and consumer spending going to help the economy. But of course he got derailed by the Grover norquist pledge to 'not allow the democrat to govern as a democrat'. Most of the trillion went to republican corporate tax credits and pork, only a litle went to the economic jobs stimulus. It's a logjam. I'm too old I'm moving to Canada just to have some peace of mind. Fortunately i can do so. But I will fear the US Civil War that is brewing and I will be sad for the old and the sick who will have their Medicaid and social security ripped out from them as though they were the problem. Us is a mean mean place right now. I hope you all come to your senses and pursue campaign financeeform! How do you KNOW it wasn't some foreign govt that force S&P to downgrade us for their own nefarious. Purpose? That's just it you will never know because of the supreme court decision allowing corporate donations from anywhere! Let's stop the misery, make the campIgn season 6 weeks and only allowed predetermined appearances for debate, publication. No more mean season lasting 2 our of every 4 years. I want to live in a sane place and it ain't here.
Recall all these tea party idiots, recall, impeach, and throw them out of congress.
Bullying is not a term that a media professional should be using.
And the poster above is correct. Our representative bodies and our elected officials rarely bring any real world experience to their government post. There is nothing more frustrating than being governed by a group of people with little to no real experience in life.
It's time to see a return of real people to office. People who have been on the ground in the various issues facing society and can make a reasoned argument and discuss legislation that pulls from real experience rather than testing results from K Street Think Tanks and Consultancy groups. America is owed a government of the people and for the people.
I only have one thing to say.... Social democracy is what this country needs!! Just take a look at Scandinavian countries strong economy. Americans needs to stop being afraid of Social democracy....Capitalism is taking us nowhere!!!! Better to build a strong slow growing country then a fast growing rich country that later fails and become bancrupt.
"Social democracy" is just a long, slow, path to going broke, as a lot of Europe is demonstrating.
We seem to be doing OK.
We lost our AAA rating back in '92. Took us nine and a half years to get it back. See if you can do it faster.
You're wrong, Henry Miller, the Scandinavian countries are doing economically well and they fit your idea of "social democracy"!
You might actually want to look at the map of the AAA rated countries. (Hint: it's all those 'evil socialist' countries fox warns you about). They have better standards of living, healthcare, better education, and their people are happier and live longer..they are obviously doing something right.
Not only Scandinavia's model proves itself viable. Germany and Holland are two solid examples, that a country can thrive economically and at the same time provide for social welfare.
If we were under the same type of government as England right now Obama would be kicked out of office with a vote of 'no confidence.' If he wants to do something right for a change he should have the stones and class to resign. The entire system in Washington is a sham. Depending on just how bad the stock market reacts to this idiocy will likely be found out this week. Obama and the rest of the political ilk in Washington aren't far from seeing the people in the streets that may well make the Viet Nam protests look like play time. I for one, think it's time.
Set term limits. Raise taxes on rich. Cut military spending by 400 bill/yr. Use that savings to build 250 million solar panels over 10 years(and other alternative energies)Indepenent energy would stop 450 billion capital leaving usa every year. Make sure panels built in usa so capital is not lost that way. Each panel lasting 20-40 yrs. Much better investment than policing world.
It's not the political system that's broken, it's the office-holders...and that's a direct result of the campaign and election system. We're voting in the most charismatic candidates who spend the most money on their campaigns. They get into office and immediately begin working for the people and corporations who will donate money to their *next* campaign.
When politicians stop worrying about getting money to run their campaigns and start worrying about serving the people who will or won't vote for them based on what they actually do while in office, then the system might start working again.
You cannot expect Obama to correct in 3 years what took GWB 8 years to "F"-up. Revenue is needed but the financially strong want only to see the financially weak suffer for the sin of not having a high-income. As long as these people who can help – won't help, this situation will not get better.
When you have a flat tire, you change it.
The Tea Party Wants to trash the car.
Amazing.
Yes, we'll have to increase tax revenue in order to close the budget deficit.
No, that additional revenue should not come from imposing trillions in new taxes on the top 1-2% that already pay far in excess of their fair share. The top 1% in this country pays about 40% of the tax burden, despite having only 20% of the wealth. Further, they receive virtually no benefit from government services (what does medicare mean to Bill Gates?). Now, why exactly should we be asking them to pay even more...when all that would do is prevent the debt from increasing, knowing full well that the libs would just look to jack up their rates a second time when we actually had to start paying down the debt.
There are people in this country who don't pay their fair share to keep the nation running, but its the 50% that doesn't pay any taxes, not the people who already provide for more than 40% of government revenue they receive almost no return on.
Please site your sources for the percentages yo quote.
It's not so much the damage to our U.S. economy–tragic though it is–that concerns me; rather it is the apparent defeat of our Democracy itself, brought on by a confluence of greedy politicians, teabaggers, and low-information voters that has undermined our civilizations ability to repair and correct itself in a civil and responsible manner. I have no doubt that this would be the conclusions of other peoples and countries who have been viewing the decline of the West for the past 10 to 15 years from abroad.
the problem wasn't that the tea party was unyielding the problem was they yielded
That article was a bulls eye.
Good one Fareed Zakaria.
"You cannot expect Obama to correct in 3 years what took GWB 8 years to "F"-up"
Yes, freedom for tens of millions of people, the near destruction of the terrorist group that attacked us on 9/11 and, the one thing where liberals were probably more than happy to support him, a medicare drug benefit that enabled people to save on their medications. Yup, thats a real "F-up"
To say nothing of the fact that far from doing ANYTHING to turn things around, went on a spending spree in his first 18 months in office that made what Bush spent look like pocket change.
--
"Revenue is needed but the financially strong want only to see the financially weak suffer for the sin of not having a high-income"
Compared to the torch-and-pitchfork mentality of the left, which wants to burn business owners and investors at the stake for the "sin" of providing their children with a future free of financial hardship?
Idiot alert.
Anyone who thinks Bush is "Great" has an IQ that probably doesn't exceed their shoe size.
All you Obama haters, do a google search for "Paul O' Neill", Bush's first Treasury secretary who warned Bush in 2002 that if he when through with his tax cuts and converted the $400 billion in surpluses he inherited from Clinton, our country would be headed into a financial crisis and here we are today, nearly ten years later. Osama Bin Ladin also said that his goal was to bankrupt the United States, Bin Ladin is dead and Bush is out of office. Bin Ladin vs. Bush, guess who ultimately won that war.
Most of those hijackers where Saudi's
Bin Laden was found in Pakistan.
Why did we go to war with Afghanistan & Iraq ???
MORON ALLERT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
What's left for Obama to destroy, folks? The economy, jobs, schools, energy prices, Iraq, Afghanistan, Ground Zero and now the nation's credit rating. He's destroyed our morale and reduced us to food stamps and depression. For the next 14 months this crippled, lame duck President will do nothing, that's NOTHING, but circle the nation on taxpayer dollars campaigning for re-election. For what? Killing Osama bin Laden? He's managed now to get the men of SEAL Team 6, the very unit that killed bin Laden, killed. And while he's busy campaigning, his Maoist minions will be working behind the scenes to undermine our right to bear arms and on ways to force taxpayers to pay for other people's abortions. This man is beyond incompetent – he's incompetent AND has the worst of intentions for this great country.
sure thing parrot.. Your ignorance knows no bounds. Every single piece of legislation that has been presented by Democrats or Obama has been opposed ever since he took office. Not a single piece of legislation, not a single appointment, has not been filibustered by Republicans. Not one. Republican leadership (sic) has declared.. the Number ONE priority of the Republican party is make sure Obama is not re-elected "at all costs". Obviously they meant it. They will destroy this country to reach the DECLARED NUMBER ONE priority, and you still point fingers elsewhere. You are one simple minded party puppet, that has never done a single piece of research. Watching the Beck Comedy Hour on Fox is not research. It is entertainment. The number one priority of the Republican Parry is not the economy, it is not unemployment, it is not ending unwinnable wars,it is not healthcare reform, it is not the deficit, it is not the budget, it is to see Obama is not elected "at All Costs". What part of reality escapes you? Besides all of it.
Vwey well-spoken (written)!
Are ALL Republicans brain damaged ?
Are you serious?? Really, half the garbage I've read here shows a lack of education and thoughtful consideration. It's time to have public discourse that is respectful, informed and earnest, not the talking points of a propaganda machine like FOX or MSNBC. I'm sick of all the name-calling and misinformation (by bloggers, "journalists," politicians). If we want to preserve our way of life, it's time to work together for the good of all, and quit demonizing those with different beliefs. Compromise, folks!
Thank you, Fareed Zakaria, for your clear analysis.
Wow! You're going to blame Obama for a helicopter going down? That's some pretty beefed up Jedi mind tricks he's got going for him.
The force is strong in this one.
Zakaria, stop your serious BS..... your comments are irrelevant and you have no qualification whatsoever to post such BS.. by taking advantage of
your position at CNN, go and evaluate your life and education level.
He has forgotten more than you will ever know
What did he forget...to stop eating pork? Maybe he forgot his prayers at Ramadan, No great loss.
Stop being a dick.
At list I am Dick, the guy is a p..sy and has no idea what he wants to be.
ha ha ..........let them steal more money from social security- medicare and tell us the country is going bankrupt while they are chillin on the golf course
What's this "we?" The people in Congress have downgraded the rest of us.
I can't imagine anyone reading this article and not feeling sick inside for our country. I have watch this situation develop starting with the Clinton years. The Lewinski scandal started the over the top fighting between republicans and democrats. You can thank the media, especially Fox news for fueling the fire. It extended into the Bush years and then grew to unprecedented levels under Obama. I have no idea how this can be fixed but we better find a way or we are all going to get a chance to live through a depression.
Amen! We have become so concerned about shoving our personal beliefs down other people's throats, that we've forgotten that we are a democracy. We've lost tolerance for people and ideas that differ from our own. Our general populace is uninformed. This is sad, sad, sad. I shudder to think what might happen to our nation because of the polarizing effects of recent politics.
Anyone look up the definition of Fascism lately?
any right-wing nationalist ideology or movement with an authoritarian and hierarchical structure that is fundamentally opposed to democracy and liberalism
2. any ideology, movement, programme, tendency, etc, that may be characterized as right-wing, chauvinist, authoritarian, etc
Just saying.
Do you know anything about Fascists Governments at all? Do you understand that every Fascists Dictator in Europe used Massive Public Works program to defeat unemployment, they all miserably failed and only helped to crush their economies making the domestic situation ripe for revolution as parties fought against each other, about who to blame? Pick up a book about the Spanish Civil War and freaking learn something.
It's scary how Liberals are so inane and clue-less and completely unwilling to look at their part. Obama's actions stand for themselves, this is not a difficult concept to understand unless you are retarded.
Evert try to do any research? Or is the limit of your intelligence repeating rhetoric?
Why is it necessary for you to insult those who disagree with you? Really, name-calling? This tactic certainly does nothing to solve our nation's problems.
Sez the boob who thinks "clueless" is hyphenated.
Knock it off with the idiotic generalizations, boob.
IbnWarraq, the fact you keep repeating the word "Liberal" as a pejorative clearly shows you're one of the millions of Fox/Limbaugh parrots that voted for Bush jr. who in the most part created this mess. I used to blame Bush, but not any more, it's the millions of imbeciles who buy anything and everything sold to them by Fox and Limbaugh. How did things get so Fu*K-up? When Bush took office, we were at peace, unemployment was at 5% or lower, there was a $400 billion surplus and the stock market was near 13,000. When Obama inherited this current mess, two wars, an economy on the verge of collapse, unemployment at 7.5 % and raising, the stock market at 7500; Obama had no choice but to inject money back into the economy. As far the 3 trillion figure you mentioned, the figure is more like 850 billion which he injected back into our economy to try to prevent another great depression, how much worse might the economy be had he done nothing? the remaining balance was used to pay for the two wars and programs, TSA, Homeland Security, corporate bailouts etc. programs started under Bush. You need to get a clue.
Happy birthday.
I heard you just turned 6.
"Just saying."
Good, now why don't you "just say" what the deffinitions of socialism and class warfare are?
I voted for my candidates who have had the guts to stand firm and change the old ways of running Washington. I am proud that they stick to their guns and want to make the change. You and your liberal friends have put this country where it is today. When the democrats had the majority they
shoved down everything down our throats(Obamacare)and never negotiated with anyone. Obamas inexperience has driven this country where is today.
He has been training on the job and we the tax payers and citizens are paying for his training.
idiot alert #2
All these Obama haters who voted for Bush and conveniently forgot the guy they voted for couldn't find any WMD's, Bin Ladin and started two unnecessary wars because of it have no clue how 8 years of "Liberal" policy under Clinton vs. 8 under Bush jr. contrast one another. The worse thing they can pin on Clinton was lying about a BJ, they give a pass to Bush who basically lied to start a war in Iraq that's cost us trillions and god knows how many of thousands of innocent lives. The people who hate Obama are the ones who voted for Bush and conveniently forgot what an incredible pile that guy left behind, it's still stinking to high heaven. Obama has taken care of Bin Ladin and if he had any kind of cooperation from the tea baggers and far rightwing, the mess we're in might not be quite as severe.
Bush did not lie ! It was all due to incompetency of our intelligence !
During Clinton our intelligence was focused on Clinton getting a BJ by Monica.
It's great to be an American!!!
It's the traitorous Tea Bags of the GOP who did this with a happy hand in hand with the GOP. They will not stop till we are a third world nation.
Things will improve after the keys to Air Force One are taken away and Obama is evicted from The White House in 2012.
idiot alert
Just "who" is going to evict him from the white house ?
Perry ?
Bachman ?
Palin ?
Newt ?
Romney ?
Hahahahahahahahahahahahahahahahahahah.
90%+of the wealth in our country is concentrated in the hands of about 1-2% of the population. Everything else iis in the hands of the most of the rest of us. They are paying less taxes than historically they have paid in at least 60 years. They have far more than 20% of the wealth now. How is that fair to the country? You have to look at the U.S.A. as a community, if not a democracy. The countries in which life is best for most everyone are those that have a more equal distribution of wealth. Those known as third world countries have something very similar to what is now happening here. Most of the wealth concentrated in a few hands with virtually no middle class and many very poor. That is where we're headed. How much money do you need to live well? Billions. Millions. Think about it! The proof is all around you if you care to look. Otherwise you are obviously brainwashed by FOX, Rupert Murdoch, Rush (a big millionaire himself), Beck (equally wealthy even though he's bat.... crazy), and the rest of the wingnuts out there.
The top 1% accounts for 20% of the income, yet pays 40% of the tax burden. They get very little benefit from most government programs. Explain why we should be demanding they pay an even larger share for nothing in return, when half the country pays almost no taxes and leeches off the rest of us?
Wealthy individuals and corporations do not get any benefits from government? Then,
where did all those tax breaks, bailouts, subsidies, government contracts go? Let us all
admit that as much as social welfare programs are culprits, so are corporate welfare
programs for rich people.
I understand that everyone wants someone to blame for this mess, whether it be the Dums or Repugs. The American people should however take a long look in the mirror, the deregulation of the 80's and 90's is the single biggest reason for all of these problems. Those that don't learn from history are doomed to repeat it, and that is exactly what is happening. Look back at how and why the Federal Reserve was created. Understand that your elected leaders and I use that term very loosely, will be getting their campaign money from Wall st, the Koch brothers, Grover Norquists, and a long list of others who could care less about the insignificant problems of everyday Americans. What about Brooksley Born, she tried to warn everyone about the housing bubble, predatory lending and the upcoming collapse of American financial markets. Greenspan and Clinton were quick to get rid of her, she's some kind of crack pot! Fast forward to Greenspan talking about how nobody could have predicted the housing bubble, ya right! Everything that has happened is by design, you have just witnessed the largest transfer of wealth from the poor to the rich in history, and did nothing about it. If you want your government back, limit the ability of corporations to buy your elections, force your leaders to stand on a simple stage and talk about real issues, not billion dollar campaigns that have more to do with window dressing spin and mud slinging then anything else. The fact that your current President won an award for advertising in the last election should tell you everything you need know about what is wrong with your political system.
What we can agree on is campaign finnce reform!!! There, I've just rung a bell.
To hell with all this bickering. Let's organize ourselves to take back our country by demanding campaign finance reform! I'm not as keen on term limits, we don't need greenhorn baby congresspeople every 2 years. But, we need a shorter campaign season though. As part of campaign finance reform we taxpayers will allot a 6 week season and specify what mediums and frequency their political ads can be. Campaign finance. Reform ! Something we can all agree on!! the bell has been rung, can't un-ring a bell!
The writer did not actually expect people to believe his article even though it is spot on. For the most part, people hat have made postings are acting exactly like hard core conservatives/republicans and progressive/democrats. You refuse to even try to see things different from the rhetoric you are bombarded with for fear it might show you never knew a damn thing and have been suckered for years following party lines. America is full of idiots. Most of you posting haven't a single solution to anything but you sure can repeat the same nonsense that got us here.
Right now, most countries in Europe are under pressure economic pressure and the politicians are feeling the heat. In Ireland the first to hold an election since the crises began, the government only managed to gain 17.5% of the vote and say their seats in parliament fall from 77 out of 166 to just 20!!! All across Europe, politicians can expect the same fate come election time, as the people make their anger felt.
And that is the bit we don't understand over here, you guys seem to keep voting for more of the same!!! We hear all about the Tea Party and how it is going to make a difference, but in the end, it just seems to more of the same old thing.....
Jim (Switzerland)
I hardly think it matters anymore who you vote for, all parties are owned and opperated by Wall st.
Perhaps the best thing for U.S. citizens is to really involve themselves in political issues, really take a stand and not sit on the fence as so many did during the run-up to the Iraq war with all its specious rationales. People sat idly by, laughing and ignoring the anti-war protesters from afar, as they were duped into slumber by mass media, war mongering ideologues, and war profiteers. The same delivery systems are at work here, but different actors. The U.S. political system will get along just fine with its corruption etc. because of apathy and cynicism. The same conversation here will be here a decade from now when climate change will be on stage. Voters sit on their fannies, mesmerized by the two-party farce and ignore self-interest, which is the core of political action (corruption).
We may see this as a problem, but the Uniparty of elected employees sees this a s a successful outcome. They have done well as regards their reelection . The extremes of the two parts of the Uniparty have paid homage to their electorate,the middle can point their fingers at the extremes for creating a situation where nothing gets done and they all get reelected, though there may on or two that suffer collateral damage.
Furthermore they have managed to nurture and grow this issue into something they can keep calling up for years to come, just like illegal immigration, an issue they have successfully maintained, nurtured, developed and grown for over 45 years without ever having to to the actual job they were supposed to do. And they have tens of earmarks on this bill.
To us what looks a failure is to them a grand success.
As usual for second rate reportage, CNN and Fareed are part of the Problem! NO- the SYSTEM is not broken! NO! BOTH parties are NOT responsible for the deadlock- the DEMOCRATS have made and continue to make significant compromises and sacrifices. NO! The shallow reporting and almost TOTAL failure of major news networks to correctly assign blame and investigate fully IS a PROBLEM. The GOP and TEA PARTY continue to put the entire Nation at risk for 1% of the population- the super rich. One would think the DOJ would be investigating the downgrade by S&P, but Holder, like Scalia and Thomas, has already indicated he is fully in the service of Goldman Sachs, not the United States Federal Government.
"The GOP and TEA PARTY continue to put the entire Nation at risk for 1% of the population- the super rich."
They have 20% of the income, they pay 40% of the taxes. What part of gross injustice do you not understand?
Matthew your ability spew out numbers does not make them facts. How much did Exxon pay last year in federal taxes, $0. Do you remember Warren Buffets saying how thanks to Bush he now pays a lower tax rate then his secretary? The 1% class owns more tha 40% of monetary wealth and more than 50% of all America's wealth. The 400 richest people in the U.S made a combined of 700 Billion dollar profit at the same time the government was bailling out the super rich. the list goes on and on. The whole thing is a game of Monopoly, in the end one person owns everything and everyone else looses!
Lol most corps pay an average of 17% income tax, that's less than the average citizen.
Actually, we've demonstrated that our Government's oversight of the finances of our country is in unskilled hands. Who's watching the bank? America's political system is not broken, there's just a power play going on about how far and deep we are going to have to cut, and how high and how much we are going to have to raise taxes to get back that triple AAA+ rating. This is not what Fareed is suggesting. We slipped from AAA+ to AA+. It's not broken. It's still working. That's still a good rating. Quit playing the politics of FEAR. America is still strong and still carrying on! I really detest journalistic terrorists like Fareed. He is actually part of the problem. Get out of the way now.
If so, do you think we still qualify to be the world leader?
"Something unpleasant is coming when men are anxious to tell the truth.” – Benjamin Disraeli
A combination of $4 trillion spending cuts and $1 trillion revenue enhancements could have saved the
AAA credit rating, but our politicians in both parties have failed us. I hope that we have a better luck in the
next congress with new leadership. It seems to me that the only way we can restore our economic health
is by using our tax dollars strategically. Rather than giving tax breaks, tax rebates, lower interest rates,
and subsidies across-the-board, these should be targeted to help domestic as well as foreign companies
that actually invest and hire US workers. Foreign companies that invest and hire our workers are more
patriot than US corporations that outsource US jobs. I hope the newly elected politicians in Washington DC
understand this simple economic principle.
By all means, continue blaming each other. You are correct after all. The other side is wrong. The other side got us where we are today and where we are going. Your finger pointing in the other guy's face makes you stronger, makes you correct, and makes the problems go away. Bravo I say. Bravo.
Hope and Change? Evict Obama 2012!
Thank you tea Party.
Obama 2012.
taxpayers-sold down the river again by the crooks in DC–borrowing
more trillions for earmarks and deals for friends, when the country is
near bankruptcy. Congratulations TEAGBAGGER you've been had
Where was the gop/teaparty when Rumsfeld Says 2.3 Trillion Missing From Pentagon on 9/10/01?
Bush administration gave 43 million to the Taliban,
$17b in Iraq rebuilding money missing
Reagan raised the debt ceiling 18 times for a total increase of 199%.
n giant U.S. companies avoiding income taxes: Sen. Bernie Sanders list
The Bernie Sanders Ten, per release....
1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.
3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.
4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.
6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.
7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.
8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.
10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent
Thank you Arale. This is what republicans need to see. It's hard to keep believing lies when the truth hits you squarely in the face.
All I see are a bunch of peopel who "think" they know what they are talking about. Why don't you point to and look at the statistics and go by facts instead of being the sheeple who follow the commentary of a crappy new channel (both CNN and Fox):
http://blog.heritage.org/2011/07/28/the-truth-about-obamas-budget-deficits-in-pictures/
Hey check out all the AAA countries...none of them (except the U.S.) have fought endless wars for the last decade. We're in 3 (arguably 4 wars) and neither side proposed ending even 1 of the wars as a solution to our debt. We earned this downgrade!
Dunno about you people but I'm moving my 401k out of the stock market TONIGHT before the markets open. America aint taking me down with it!
BTW Mr. Zakaria. You are an Islamo-fascist. You are not included in "ourselves."
He's not Islamic he's from India lol.
Agreed. He said:"Is that how a democracy should function?" No. It is how a democratic *republic* should function to keep the majority nuts from shoving their garbage down the minority's throat.
Democrats and Republicans – like two guys trying to strangle each other while their ship is sinking.
Democrats and Republicans – like two guys trying to strangle each other while their ship is sinking.
The Tea Party sunk the life boat.
As usual, Fareed is right.
I'd love to think that the downgrading would send a strong message to Washington, but it won't. The problem is everyone there has their heads so far up there asses that nothing will change.
I've enjoyed reading all the comments where fingers are pushed in noses and blame is given. You know who I blame? I blame myself. I blame my neighbor, I blame my family. I've bought into this two party calamity that's steering my country into a wall. I live in a country where free thought and intelligence are no longer valued by a large portion of society. I live in a country where political rivals refer to each other as terrorists. Where what's best for the country no longer matters, it's what's best for the party that's king.
Because our citizens want it all, but want it free, we're in this mess. You can blame Bush or Obama, but ultimately, you're to blame. You've reduced our system to "us vs. them.". You don't want objectivity, you want subjectivity. You want yours first and damn the rest. We will never be free of debt until we solve how to work as fellow citizens for the greater good.
But I'm in my twenties, so I still have starry-eyed hope in my eyes. I'm losing that hope every day and right now there's no politicians to turn to. Fareed is incorrect – our system isn't broken....our people are.
Well said.
Fareed, did you say Republican bullying? Really? Where were you when the Dems ramrodded healthcare down the throats of Americans? C'mon Fareed. You're showing your partisan fangs again....
Dems kept inviting Repubs to the table
but they refused to play.
the first step to fixing this country will be to vote out the republican party along with the democratic party.then we can have some peace of mind with new faces that represent the people not the corporations and the rich.
the only we poor or middle class have is for constantly voting for either of those parties.when we can break that cycle they will in fact see the light of day.
otherwise it will be business as usual and the rich and the corporations will rule us and forever make us their slaves.
if both of those parties did not take money lobbying and large corporate donations and they both were willing to make the compromisies they should then it would be a positive thing for both of their images but i know for me 2012 is the apocalypse of both.
i swear to not vote for either .
"My fellow Americans, ask not what your country can do for you - ask what can you do for your country." President John F. Kennedy
Stop blaming others and start changing our own excess buying habit and overindulging life style .
Fareed you are an hypocrite, last week you were polishing Obama’s shoes now you have adopted a pseudo bipartisan tone, out of opportunism. I’m sure next week you will be bashing Obama.
The problem in America is the huge amount of profiteers like you in high positions. Please return to India, we don’t need you feudal hypocrisy here.
We need people who are not just in it for the money or the power.... we need a government that is open to the public and wont run the US into the ground.
....I think Zakari...is a MuslLm Jihadist..that Delights in Anything Bad that happens to America....
Im always amazed by the amount of ignorance and thinly veiled racism in these comment threads. CNN is a reliable source for news (certainly better than FAUX), and Fareed seems like a very intelligent and reasonable person. Why in the hell do you come here and choose to read this article (you did read it, right?) only to post some brain-dead comment like "Imma Gawd feerin Amurrikan and I hate almost everybody! Obummer is gonna destroy the country with these Socialist Marxist Communist Nazi policies durrhurrr derp!!1!1!"
CNN is not reliable lol it's owned by Ted Turner, do you think he works for the United States govt. or something?
That's funny, you implying that the government would be a reliable source of information.
Maybe I missed something, but Zakaria mentioned cutting social programs like social security and medicare, but nowhere did he mention cutting back on unnecessary wars that will add trillions to the deficit by the time you factor in lost wages, medical care for the injured, and opportunity costs. We can take a big step toward balancing the budget by pursuing a sensible foreign policy.
Dear god people, did not a single one of you read the above article about how partisan politics have paralyzed our country? Your doing the exact same pointless arguing and blaming only on a even less effective scale here in the comment sections. Blaming past politicians does not solve the problems of this country. If you want to yell about something start going on about how completely messed up and ineffective are government has become in dealing with these situations.
Thank you Tea Party. Zero negotiation at the expense of the greater good. Home grown terrorists.
I I absolutely agree Eric – Tea baggers are like Al-Qaeda's own in-house cell. No wonder terrorism attacks are down since they dont need to attack us anymore – we are killing ourselves softly and they are watching us and laughing!!!
Reading the posts here demonstrates the exact problem. People from both sides of the debate are throwing around rhetoric and blame without using facts to back up their arguments. Instead of trying to solve problems people are simply insulting each other and use buzz words like "marxist" or "jihadist" or "facist" without understanding what they mean.
It is a sad time indeed for my friends in the USA.
The GOP, particullarly the fanatics in the Tea Party are so desparate to see the first Black President be a one termer that they are destroying our country. I am not Black, nor a minority and I am Independent in terms of Political affiliation; however, what I have witnessed over the past month is a disgrace and shameful. The GOP is better than this. Please Mr. Speaker – take charge of your House.
If we could get past the blaming, maybe we could work on solutions.
I think these boards on CNN are fairly representative of the issues we see in Washington. People from both parties come on here, spew insults at one another and call the opposition 'idiots" and then wonder why there isn't courteous and intelligent discourse in Washington. The problem solving starts with us people, and to do it, we need compromise and solidarity. I really don't see that happening, sadly.
Jeff, yes problem solving means compromise – Unfortunately most people in the government don't know/ understand the meaning of compromise, THEY are so narcissist that they feel – the government has to run the way they want it or they are willing to bring down the whole nation to its knees to get them to meet their demands. Grow up people, my parents made my brother and me compromise by allowing us to pick one of two things (one and only one) – maybe we need to tell the bi-partisan houses that they get to pick one issue that they truly believe in and then agree to what the other says on the rest of it. Ofcourse, GOP is going to rant how the rich cant be taxed etc etc – I think EVERYONE should be taxed. Yes we are all burdened already, but when you share the burden it will lessen!!! We dont have to do much just pay a dollar everyday that goes straight into reducing the debt. That is what you do when you have a credit problem – you reduce spending and try to supplement your income any way you can – it is simple!!!
>> Is that how a democracy should function?
It is precisely how a democracy functions. All so-called "public policy" works towards expanding the parasite. One day, the parasite is bigger than the host.
Reading these posts, is it any surprise that Congress is polarized. "Tea Party members are jerks" "Socialist leftists want nothing more than wealth redistribution." Unfortunately, I don't see this changning anytime soon. Far left Democrats and Far right Republicans have become intractable. Also, they both seem to squawk the loudest which results in the media giving them a platform to spew their venom.
The United States of Shame.
The neocon agenda has always been to destroy a secular democratic US and replace it with a medieval Taliban-style theocracy. Seems it's working. Bye bye, US of Asinine.
Ironic that an article about the divisiveness of Washington politics and politicians inability to compromise or find common ground, is followed by discussion filled with divisiveness, name calling, and anger.
As a thinking person who, (gasp), doesn't have ALL the answers, I'm struck with the fact that the enormity of our problem is not rooted in either the immediate or the past. We must look at the totality of the problems, identify the priorities that need to be supported in a forward thinking democratic 'good' society, and create solutions to the problems from that. Debt cutting is good. We spend too much. Providing services for our own people in society-the poor, elderly, development of youth, etc... are also important values but need to be examined carefully as well. We CAN chart a strong course. We MUST do so. But we can't if all we do is call each other morons. No one has all the answers, there is much to be taken from all sides.
Americans love team sport. Politics is now team sport to most Americans. Two party system breeds this atmosphere. Root for one team, boo the other. Wear your team t-shirt. Listen to only affirmation talk shows. Politicians LOVE this atmosphere because they know that their "posse" of cheerleaders will root for them and ignore their flaws and mistakes. Their "posse' will also boo the "opposition" and ignore any good ideas that some from the other side. How can we possibly get anywhere in this atmosphere? Maybe an independent President and more independents in the House and Senate maybe to avoid team lockstep (and lockup)?
Well said. It's time we came together for some real solutions.
This article is SPOT ON as confirmed by many posts on this board who evidently didn't read the article, and keep parroting "It is the Democrats' fault"..."It is the Republicans' fault"...."It is all Obama's fault"....."It is all Bush's fault". Know what, all you team zombies.....BOTH parties ran up debt FOR YEARS. Wake the hell up and take off your team t-shirts.
....200 Young Christians from New Zealand Came to America this week ...to Evangelize America....They and Believers All Over the World...Know that NOW ...it is America that NEEDS GOD....Embracing Every Evil....Turned Against GOD....Only He can Deliver America...
Some years ago someone predicts that the future Christian missionaries will come out of atheist communist countries like Russia and China. Now I am seeing more and more clearly each day.
The future mission fields would require less travel, it is popping everywhere in our own back yards.
This world needs less religion, and more rational thought. Feel free to worship your cross-shaped torture device and your three headed zombie god in the privacy of your own home. One good way to generate revenue would be to tax the churches.
I am afraid you right. And for those that will criticize me and say I am no conservative. I am 64 years old and an conservative all my voting life.
And what we in the Tea Partiers' is political opportunist, with misguide principles that they for political gain.
The system is broken when 16% of the representation of the both the Senate and House Representatives can hold both the Congress and President hostage to their whim.
There are a great many things that we need to focus on, but all the Tea Partiers' want is" their way" and not compromise.
Yes it is broken. That is why S&P dropped the rating! For those of you that only what to focus on the debt, the confident of the leadership of US gov't which the Tea Party Republicans, along their cronies Rush Limbaugh and Sean Hannity have undermined the US Presidency singled handed, so congratulation you have done what other could not from the outside.
You all know less than the economists. The problem can be seen by looking in a mirror. Admit this, get our "representatives" in government to admit this, and the road to recovery has started.
Well, those who voted for Tea Party candidates–are you happy now? Why slam Obama–Congress needs to get its act together~! Just TOO many bullies out for recess. It's about time we get along and get something done!
The tea party and the ultra-rightwing have purposely created gridlock to try to destroy President Obama.
And this GOP-manufactured debt-ceiling crisis is just another example of the type of obstructionism that has been going on by the GOP.
Hundreds upon hundreds of bills in the House have been either killed, filibustered or tabled by the tea party extremists. Bills that would help create jobs.
There is no other way to call it.
The tea party are terrorists. Every bit as destructive to America as those on 9/11.
.
It is clear that these politically paralyzed leaders cannot do the job. They must all be removed. Obama, Reid, Boehner, Pelosi, Cantor, etc. We need real leaders, not afraid of angering the extremist idiots on both sides; leaders who can plan a sensible, prosperous future. That future will NOT be based on giving everybody something for nothing. That way lies ruin. By now, we should all see that. And stop blaming it on tea party members. They at least can see how the nation they love, and worked to build, is being dismantled to create a welfare state. At least they know what they're fighting for. The rest of us need to step up and help restore American's promise to all, not just those who can be so easily bought with a welfare check.
Fareed is an Obama 'advisor', so his credibility is less than zero.
No it only means that unless you are/have been also an advisor to a President....he's light years ahead of you intellectually
i seriously do not care and will never care what Zahreed has to say. honestly. who is this guy? why don't we go pull some dude off the street and then print his opinions as headlines as if they are important? i do not care about the opinion of some no-name who has no way of changing the outcome of absolutely anything.
Shame on all of you, democrats, republicans, congressman, commenters...
I hope you feel some of the guilt when they blow up another one of our city blocks and murder thousands of our people so that they CAN make a few real decisions. Apparently that's what it takes these days
As a nation, we need to turn the suck down from 10 to about 7.
About two years after The President was elected, apparently a lot of people became disenchanted with the progress of the administartions efforts to stimulate and restart the Economy.
As a result, in the midterm elections, thet decided to voice their displeasure by electing a bunch of children dressed like adults called the tea party! Like most children they were obstinent, impatient, and ran aroung stomping their collective feet and closed their eyes, gritted their teeth and said no to anything and everything that took some toys out of their sandbox! Unfortunately the public was mad enough to elect enough of them to do some real collateral damage! As a result, and for this reason, according to S&P, the US Credit Rating has been downgraded! As a matter of fact, it is now being called "The Tea Party Downgrade" around Washington! The Republicans are going to blame everyone from President Obama to the Tooth Fairy but the fact remains that they engineered this crisis and rode it through not realizing how much damage the tea party children could cause. Boehner could have struck a deal that both sides could have lived with balancing spending cuts and increased revenue but ,in typical form, the children again closed their eyes and stomped little their feet and said "Not in my sandbox"!
And here you have the result!
Thank you Howard.
Tea party SCREAMED, jobs jobs jobs....elect me.
When they got elected they went after Gay marriage
DADT
Planned parenthood
abortion
social security.....ect
They want smaller government that pokes its head inside your life.
No Thanks.
Keep your religion out of my bedroom and out of my government.
Contact your Congressional members and put pressure on them.
The House rejected the following plans and choose the $2.1 trillion debt reduction instead...
1) First, they rejected the President's bipartisan debt commission plan for $4 trillion in debt reduction.
2) Then, they House rejected the bipartisan Senate's $3.7 trillion debt reduction plan. In fact, several members of the House even called the GOP members who participated traitors.
3) Then, the House walked away from President Obama's $4-$4.7 trillion debt reduction plan.
After Speaker Boehner and Senator McConnell presented President Obama the failed $2.1 trillion debt reduction plan, Speaker Boehner was asked if he was concerned that the S&P said they would downgrade the U.S. credit rating if this is the option Congress choose. Speaker Boehner (who is 3rd most powerful man in the world) said "it's not my job". Remember, all budget bills must start in the House. Speaker Boehner, it is your job.
That's 2.6 trillion in debt reduction that Speaker Boehner and the House refused to even bring up for a vote.
This is the same group that passed the Ryan budget which did nothing to slow down spending during the next 10 years.
Congress goes on a 6 week vacation rather than pass free trade agreements, extensions to the social security break for 150 million Americans.
It's time to tell your legislature that this is unacceptable.
Soviet empire collapsed under its own weight and due to miss management of its leaders who ignored every warning sign of the inherent flaws in their system. It seems US financial empire is collapsing under its own weight and due to the miss management of its leaders who foolishly ignore all the warning signs. It is amazing that the second super power should collapse about 3 decades after the first one.
I was born in the Soviet Union, and can tell that you have no idea what are you talking about. It amazes me that people keep comparing US to USSR, or even better than that, setting eg China as an example for US (as Fareed likes to do). US with all its shortcomings has the best political system in the world, is the real superpower, and as Churchill said eventually always does the right thing (admittedly, after trying everything else first)
Nice going JB. I think the collapse of the Soviet empire is an interesting read. From what I've learned they simply didn't manufacture enough goods to sell to other countries and spent too much on their military.
I want to point out a few items being discussed here and offer my opinion (which is just that, an opinion): NON PARTISAN
1. After 9/11 rates to borrow moneis was dropped to 0% – .25%
2. Deregulation of the financial markets allowed financial companies to take advantage of the low rates and created exotic loan packages (No verification loans, derivitives, ect.) leading to faulty and deceptive loan practices and policies.
3. Tarp was the original bailout and the stimulus package just continued down this road.
4. When Clinton left office there was a surplus, when Bush left office there were 2 wars (one had nothing to do with 9/11) Not to mention that other countries are developing newer war technologies (should we invade them as well?)
5. Obama is guilty of playing the same politics as the republicans (Dem's too)
6. Elected offiials are representing only themselves, they have careers to think about every 4 years and "WE" dont always fit into the big picture.
I agree with both sides and I am not riding the fence, what I am saying is that there are some fundamental differences that seperate both parties but "WE" the people should hold them accountable. The outside world is looking and taking note of what transpires here and we are being compartmentalized. If we cant come together in the middle of a crisis to help "US", then I fear the worst has yet to come.
I like the cut of your jib
I wholeheartedly concur. Both parties have really screwed up big time. We need to at least get back to fiscal basics and just balance the budget without killing the economy.
Impeach ALL Republicans!
This situation is 100 years in the making – bipartisanship is a two headed snake and as long as they can keep people like you believing that one party is better than the other, they will continue to hose us. Wake up.
Forgive my directness but I am 100% fed up with this bipartisan diatribe.
Mr. Zakaria is correct with his conclusions, but continues to be off base with the particulars. The only political hope this country has is for the common sense values and determination of conservatives (tea party) to be embraced by a majority in Congress. They are not what is wrong with this country. They are one of the few remaining things that is right, as the U.S. continues its rapid descent into Canadian and European style socialism and Marxism with folks like Obama and Pelosi leading the descent.
Fareed – I have been chanting that the system is broken for so long that the folks at the AZ Republic are sick and tired of me. . We MUST take the role of MONEY OUT of our political process. . Until then, NOTHING good can happen.
Blake : YOU ARE DEAD WRONG ! ! !
Yes Blake, it is extremely terrible up here in socialist Canada. I think I'll jump into my new BMW and head to the free hospital to get my sore hip looked at. Seems to be caused by my fat wallet. You enjoy your AA+ rating and all the 'benefits' it will bring.
PS dont forget NAFTA took all of your manufacturing jobs and moved them out of the country.
NAFTA
North American free trade agreement.
North America (United States/Canada/Mexico)
Mexico and Canada are not part of this Country...
More like MAFTA (Mexican American Free Trade Agreemen) because all of the individuals I personally know who worked for the Big 3 were either:
1. Offered a Buy-Out (Here's some money, now go get a different job)
2. Watched as contract employees (usually paid around $8 an hour starting) took over the union positions
3. Laid-Off
And somehow GM was able to secure a Bail-Out from the Government???????????
The point is – this is a great article...
The actual cut to the 2012 budget, the only budget over which this Congress has control, is $21 billion out of total expenditures of $3.7 trillion – a pittance. And that fact along with the average 17% income tax bracket for top earners is a poor mix for our financial health
The problem is that Congress won't look at this the way normal people look at our own debt. There are only two ways to reduce debt: Cut spending and/or increase revenue. The problem is that to do either of these things, someone will have to pay the price...Yet NO ONE in congress wants to do that because then people will be angry and they might lose their jobs. So they keep kicking the can in the hopes that they can just get to the end of their run and leave it for the next guy in congress. That's the problem in a nutshell: Neither the Dems nor the GOP are willing to risk their precious power to actually do their jobs...
"The problem with socialism is that eventually you run out of other peoples' money" – Margaret Thatcher
Tell that to China.
In 1995 Congress was at a stand still – we had total grid lock. The ECONOMY went crazy. More taxes in the door then ever and a balanced budget. Maybe we'll be lucky again and Congress and the Pres will be deadlocked on zero action of any kind.
Anyone up for a revolution?......................yea!.............didn't think so..................
Obviously it is a punchline for you but in truth it is always a real possibility ... would you fight? I didn't think so ... don't worry, if it comes to that there are plenty of us who do have the stomach for the heavy lifting.
"The beauty of the second amendment is that it will not be needed until they try to take it" – Thomas Jefferson
I did fight bro...and yes I would....Americans have turned out too lazy to take a stand......
Could 50 states become 50 independant countries ?
Very interesting question. I think "OUR" power lies in the ability to have differring views but also have the cohesiveness to come together as "The United States". This is dagerously close to segregation, plus who would hold the military might of the forces located in each state? Would we divide the Air Force, Army, Navy & Marines equally? Almost seems to teeter towards civil war.
Light in The Black....
After second thought you may be right that we are already there with the way most states "IGNORE" federal laws, we may be there currently or slowly progressing towards that situation.
Ummm no. GRIDLOCK has always been the primary goal of the Republican Tea Party. They state as such publicly and often. They got what they wanted.
I've said it before and I'll say it again.
The US is on it way to a Revolution.
A Revolution against the current system of Government.
A Revolution against the policies of the rich.the corperations,a revolution against the police state that our country is becoming.
The kindling is being tossed into a pile everyday.
1)Police killing civilians
2)Politicians NOT speaking for those they represent,but speaking for the corperations and lobbists
3)No term limits on politicians"public service"Most politicians,.they want to stay in office cause they get paid about 50% more than they would in a public sector job.
4)Corperations that were founded and created in the US shipping jobs overseas to save on taxes and labor costs...then shipping those same goods back to the US to be bought and paid for by the same people they put out of work.
5)Deceptive pratices from past president that got us into wars we should have never been in.
6)Failing education system...not because of the teachers...but because of politics and budget cuts and the idea "No child should be left behind...if they can't do the work...they need to find a different way to show them or be left behind until they can comprehend what is being said.
Now when the matchstick finally gets thrown into all that kindling...the fire will make wildfire look like a BBQ grill and it will again be American on American bloodshed..except this time it will not be North v South...it will be rich v poor...and just a warning to the rich people...there are alot more poor people out there than you think.
This is not a call for violence...just an observation that is looking more and more possible everyday.
Two things are required for a "legal" revolution/overthrow – 1) elections cancelled or tampered with and 2) people put in prison with no due process ...
"The tree of Liberty must periodically be watered with the blood of Patriots and tyrants" – Thomas Jefferson
Was The Revolutionary War against England legal?
When the legal system is broken,and those that broke it will not fix it...it is time for Americans to stand up both legally at the ballot box and if need be,with other methods.
It can't be proven without a shadow of a doubt...but in 2004 in Deland,FL and Daytona Beach ,FL
Ballot machines were tampered with.
One canidate actually recieved a NEGITIVE number of votes.
The machines were made by Debold systems.
After that election they refused to allow the memory cards that sotred the votes to be scanned/checked for tampering.
Then after the the memory cards were wiped all evidence was gone.
Hence there is your election tampering...but our government just let this slide without investigating.
There will be no job recovery until the Tea Party stops opposing legislation to close the tax loophole that allows U.S. corporations to deduct the expense of off shoring American jobs! I do not understand why when the United States is over 14 Trillion dollars in debt, the Tea Party demands that we continue to give tax breaks to U.S. Companies so they can write off on their Federal Income taxes, the cost of off shoring American jobs overseas to countries like China, Costa Rica and India. When is the U.S. Taxpayer going to stop paying for U.S. corporations to offshore American jobs so that jobs can start being created here in America? When we the voters force the Tea Party out of office.
Agreed, The fact that the red/blue state divide looks like the first American civil war is because the ideology hasn't changed. The far right derives its ideology from bronze age myths. What is the chance it will change in the next 10, 100 or 1000 years? They won't. The right wing fanatics are an albatross around the neck of progressive Americans. Cut them loose. Let them see how far prayer, greed, fear and ignorance can take a nation without the rest of the union to bail them out.
Unfortunatly, revolution will get you......
Martial Law.
Some of us still remember when America was BY FAR the world leader in every category. No one came close, in fact. We were a net lender and net exporter, by wide margins. Then something happened. People (by people I mean left-wingers) started taking our wealth and power for granted and started targeting our industries, our culture, our values. The very freedom that made us so great was being taken advantage of by those with ill intentions for America. The poison they sold was enticing to minorities, the young, environmentalists, the disenchanted and disenfranchised. Not ironically, these same people comprise the bulk of the Democrat Party. They seek socialism and egalitarianism and statism. They believe that to make the whole better individual liberties should be sacrificed. Such as smoking or not wearing a seat belt or getting rich. They are the problem. They need to be removed one by one via the ballot box. Until this happens, America's future is dim indeed.
Oh yeah those "environmentalists" are pure evil!
** Democrats believe individual liberties should be sacrificed ???????
Dems – for Gay marriage
Repubs – against gay marriage.
I think you fried some brain cells.
Fareed, America is not seeing through carefully ahead. All their recent decisions are due to political polarization. Too much of democracy can be injurious to your economic health. Maybe the chinese have something better to offer. They are very capitalistic when it comes to earning profits. But they become socialistic , and closed to world wind-flows when it is better to do so. America has got it self into a huge defence black-hole. you are fighting other"s wars for no reason. Your own economy is not too healthy. Best is to down the shutters on the world outside, and do some serious soul-searching inside your own country.
How to save jobs, how to create more jobs, how to innovate, how to work hard, even in blue-collar jobs. You have to learn to sweat more on real hard work- not just invent derivatives from thin air, and chase mirages in housing and other loans. Paper money will vanish. You have to create real wealth. Why is walmart buying so much from china and other countries. Can you not create and produce similar goods with better quality. Only google, and facebook , will not save you. Maybe you should create more APPLES but produced at home -not in some far-east factories.
You have given trillions of dollars to china, who have then invested in your own treasuries. What is going on- in the meanwhile you have killed your manufacturing industries. America has to pull itself by its bootstraps and work like the early protestant work- ethically inclined immigrants.Maybe you need to send your young students /workers to china and india to learn from their culture. You shouldn"t feel ashamed to do so- the world has indeed become more flat.
The DEMOCRATS SAY THEY WANT TO TAX AMERICANS EVEN MORE SO THEY CAN KEEP SPENDING, WITH THE US BORROWING MORE THAN 40 CENTS OF EVERY DOLLAR SPENT THIS WOULD RESULT IN TAXES BEING RAISED TO OVER 50% FROM THE CURRENT HIGH OF 35% TAX RATE IN ORDER TO KEEP THE DEBT BEING RAISED, WHY DON'T YOU REPORT THAT CNN????
It is time for the union to divide. The two main ideologies of the US cannot be reconciled. All it has accomplished is paralysing the nation. Split the nation along the red/blue state divide so that each on their own can move forward in way consistent with the voters' wishes. The right wing democrats and the far right wing republicans cannot find middle ground because they are unwilling to look beyond their ideology. The future of the US will be determined by a handful of middle-of-the-roaders oscillating the US between a government only accountable to republicans to one only accountable to democrats. There will never be middle ground. This is a bad marriage that is best resolved by divorce.
So if i am Democrat living in red state i should move ?
There will be no economic recovery until the Tea Party stops opposing legislation to close the tax loophole that allows U.S. corporations to deduct the expense of off shoring American jobs! I do not understand why when the United States is over 14 Trillion dollars in debt, the Tea Party demands that we continue to give tax breaks to U.S. Companies so they can write off on their Federal Income taxes, the cost of off shoring American jobs overseas to countries like China, Costa Rica and India. When is the U.S. Taxpayer going to stop paying for U.S. corporations to offshore American jobs so that jobs can start being created here in America? When we the voters force the Tea Party out of office.
Anyone care to just admit that the country has been going downhill since the oil crisis of the 1970s? Virtually all of the economic growth we have seen since then can be attributed to three things: (1) increased federal debt, (2) increased exploitation of the rest of the world, and (3) ever more rampant consumerism. About the only thing this country makes anymore is houses, and we totally jacked up the market for them by trying to rest the entire economy on that market in the aftermath of 9/11. And don't forget the dot com bubble - dot com of course being the great hope of the 1990s that was going to render all previous economic wisdom obsolete. As if.
The sad truth is that this country does not have the ENERGY to sustain 300 million people in the lifestyle to which we have grown addicted. All the bickering is to be expected, because there IS NO SOLUTION, except to pay the piper. We have managed to put that off for forty years, but what we haven't done is anything about the underlying problem: Exponential growth is unsustainable. Now we're running out of gas, and there isn't a station in sight.
The result will be economic and political collapse, as we have seen down through history. Except this time we're smack dab in the middle of it. Commerce will break down. Infrastructure will crumble (more). Fear will prevail, despite the fools who think all they have to do is keep a lid on it. Billionaires will beg, celebrities will be forgotten, and smart phones will be stricken dumb. There will be war, famine, and - as we wreck our planet with ever more desperate and careless acts - natural and man-made disasters. (Hmm. That seems to have started already, too.) These things will be the "correction" to our problems, because we have not the will, intelligence, or integrity to deal with our sadly mistaken world view.
Call me a prophet of doom if you like. I would love to be wrong about all this. But what are the only sure things in life? Oh, yeah. Death and taxes. I realize that much of this sounds like the Book of Revelations, but I am an atheist, so (unlike most "real" Americans) I do not expect to see Jesus come flying in to save all the good folk. Revelations is not so much a prophesy as a parable - one that Christians have utterly misread and in which we shall now all be schooled.
21 billlion – the democrats (who not ONCE offered a written plan or passed legislation in the senate that was based on a plan) took the congress to the 11th hour for 21 billion. All FUTURE cuts are a promise, nothing more, to SLOW the growth of government, not shrink it. If you look at the CBO analysis of the discretionary spending adjustments there is NO pain for the next 5 years. 21 billion is meaningless and that is why we were downgraded. 1000 days in office, no budget ever from Obama (just "continuing resolutions" even when the dems had both houses of congress) and no jobs.
Man up Mr President, replace the sign on your desk that says "Blame GWB – its not my fault" with Harry's "The Buck Stops Here" and LEAD our country not lecture it. You are President First, head Democrat second. It's high time you start acting that way because right now you are NOT leading us anywhere but into financial oblivian.
Here is the CBO score: http://cbo.gov/ftpdocs/123xx/doc12357/BudgetControlActAug1.pdf
I encourage all of you to look over the CBO's website and the fully understand the problems with our budget. You will see its 100% a SPENDING problem. The tea partiers are demanding that we SPEND less. I wouldn't call that a terrorist, I would simply call it common sense. That common sense approach will result in a revolution at the ballot box this next election. Not 60 tea partiers but 120 or more all focused on SPENDING LESS. The american people will finally solve the split government issue in favor of FISCAL conservatism. Its the only hope we have.
Cracking an egg with a sledgehammer
great way to fix an omlet.
Downgrade ripples, are there more tomorrow?//Wil Dow Jones drop bring tears and sorrow?//The downgrade dominos just might not relent,//Until on our knees, to Messiah we repent.//
Folks,
I think a lot of you are missing a major point. The 2 party system of this country has been hijacked by special interests and party bosses. The Atlantic Magazine published an enlightening essay by Mickey Edwards (R) Oklahoma with his views on why the 2 party system is "broken". The full transcript is available at http://www.theatlantic.com/magazine/archive/2011/07/how-to-turn-republicans-and-democrats-into-americans/8521/. Regardless of your political views I think everyone would benefit from reading this...
Garbage. The Treasury Department's big gun, Tim Geithner, couldn't even handle his own taxes and he is expected to run the country's? 3 years into this administration and it so smells like Jimmy Carter 2.0. It's a wreck. I was a HUGE supporter but now...where's the plan? He has none. This is crazy.
Wait, paralysis? Didn't both sides compromise to reach a deal? You are way off. Bottom line is Obama had 2 years with a democrat Senate and Congress and all he did was crank up the spending and the printing press to make more dollars. This is his legacy, even if you are carrying his water for him.
Bush added $5+T to the deficit, Obama $2-T. I know you tea baggers would blame Obama for a rainy day but this is a republican legacy. The democrats are throwing water on a fire started by republicans and the republicans are saying we can't afford the bucket.
Fareed's right about the gravity of the polarization of the country. It's time to split the country...it would be a natural, healthy evolution...they tried to do it in 1861, but failed....the country should have been allow to split, then and should be allowed to split, now....one side is strongly unwilling to live with the policies of the other, and why should they?
A reading of the comments above make Fareed Zakaria's case all too well. Look how few people demonstrate a willingness to calmly, rationally discuss our challenges. Unless you are blessed with all the answers, a degree of humility would better serve the greater good. Start by entering the public sphere with a willingness to acknowlegde what you don't know and the ability to respect others. The end result is what we call the democratic process, one that usually produces a greater outcome for the most. Most of us our not doing our part and a generation of young Americans will suffer for not having had these critical democratic behaviors modeled.
Hey Fareed... Call Obama and advise him on this.
While you're at it, remind Nancy Pelosi that SHE was the reason for the downgrade.
"Medicare, Medicaid, and SS are OFF the table."
How can you seriously cut?
We need to look at a pie chart and to see where all of our expenditures are going; old people, sick people, and bombs. Thats most of the non-discretionary agenda that we have to start taking an axe to, as unpopular as it may be. Focusing on the discretionary side of the budget is just tomfoolery, and a waste of time.
Obama is to blame for the situation we face now only in that he utterly failed to act on the mandate he was given in 2008. Hell, he had all three arms of government and should have pushed ahead with the most progressive policies he could while he had the chance. To hell with appeasing Republicans who never for one second had anything in mind other than bringing him down at the first possible opportunity. But he failed to be even moderately progressive (which makes the howls of "socialist" and "Marxist" from the right so risible), and in so doing alienated the base that mobilized for his election in the first place. Thus, the left failed to remain motivated and the Tea Party wing nuts were able to take over Congress. Sadly, Obama's election could have signaled the start of a real people's revolution in this country, but he failed to seize the moment.
We HAVE downgraded ourselves. It is all the wealthy and the politicians that have been pull around by a nose ring by the rich and big business. I have to state I hate Al-Qaeda and everything they stand for, but they put out a message after 9/11 that the Zionist regime would fall. Look what happened, they did nothing; our decision makers did it for them. They are laughing at America. It didn’t’ take terrorist acts to kill our economy, all it took was greed and self-righteous politicians from the right and left. Stop letting petty wedge issues divide you, vote the politicians out, demand resignations, term limits and give them the same healthcare that the rest of us get. You will see changes.
NO ONE can fix our economy.
The way we do business isn't working because it does NOT serve the planet.
Good manners won't do it.
The only way that will work is thinking globally, not nationally.
Who should we copy? North Korea? Iran? Russia? The problem with your thinking is that no nation will think globally first ever.
We don't need to raise taxes. If we raise taxes, congress will spend all that too AND raise the debt limit again.
The problem is simply spending. We need to match our spending to our revenues, which means a 40 percent cut in Federal spending.
President Obama is going to learn the hard way. All his exhortations for tax increases will result in a historic loss for Democrats in 2012, so great that that the Democrat party will never recover.
Just look at the Labor party in the UK. They lost the last election so badly they can't figure out where to turn next.
WE didn't do this, Mr. Obama and his liberals have done this. Our government owes more money than the rest of the world owes.
DNC says its your economy and the Govt doesnt make jobs, you said it, so be a man obama instead of a wimp, a two year old child knows more that obama, but that child whines less, be a man obama, grow up, quit stomping your feet and quit blaming Bush, the economy is yours obama, no one elses, its yours so be a man and quit destroying the American Dream before.............
Bad kitty.
It was evident from the political shows today that neither side will budge an inch. They were spouting the same tired mantra from Norquist, Rove, and their Superpac funders. Same from the Democrats. Blame the other party was the constant message. Next election there is no way I will vote to reelct my Congressman. He was a moderate for many years but has now signed the pledge and gone over to the dark side. No backbone – I want him out.
At this point we need to declare an emergency session and drag them all away from the beaches. The cadidates are just busy dancing to their funders tunes – screw the Iowa polls – get back to work.
Break down the bills into smaller packages because nobody can digest these 1000+ page monstrous bill packages. Make the bills simple – say for patent reform and do not allow attachments. Force them to take sides on small issues to start and then absolutely shame them into submission if they stand in the way.
That's what happens when you vote for a communist.
That statement says more about your political/economic ignorance than anything about America. Isn't there a banjo you should be playing?
CNN, please install a moron alert button.
Thank you.
Very few people seem to understand that the President cannot spend a dime. Congress spends the money!!! Yes, the President can propose a budget, etc, etc. but it's Congress that actually spends the money. So, you can blame Bush (s), Reagan, Obama, Clinton – whoever you want – but they didn't spend a dime. Every single Congressman and Senator, both Republicans and Democrats, are guilty of two things 1) pork barrel politics, i.e. wasteful projects that bring the money back home but do nothing for the overall good of the country and 2) not having the b???s to make tough economic decisions that might benefit the country but hurt some special interest group. They are all more worried about re-election than looking out for the bests interests of the USA. I say, let's clean house. Any sitting Federal level politician who is up for re-election in 2012 should be voted out of office. Whoever gets elected to replace them, can't do a worse job. This is pathetic – let's Clean House!!!
IbnWarraq must be be paid very well by the TE, to be so determined to defend the destroyers of the US. A black
President has the red necks raging mad, and it appears anything goes. A white Democratic president, and this insanity
would not be happening.
Gosh, this Fareek guy is really smart. Please tell us what we should do! Give us hope!
The democrats, republicans, and tea partiers are clueless. All statists are clueless. You rely on rulers to help you, and you'll find that the rulers are inept and the system is highly flawed. Stop relying on government, rely on yourself.
Spoken like a true Libertarian. Of course you ignore the fact that it was an unregulated financial system that started the US plunge. Libertarianism isn't about freedom for Americans, it is about freedom from responsibility.
There has to be separation between church and state.
Sad state of affairs, our government. Equally sad is how few people read up on the facts and take part in the voting process. We could take back a lot if we cared enough...our forefathers set it up that way.
Totally hillarious.... We are getting what we deserve. Wealth gap is a chasm and people don't care. They just don't care more about the chasm than their values. Don't kill the babies and ban all death panels, but fire us at will for the sake of the dividends. While I personally consider people who hold such views bipedal ungulates and nothing more, this is the essence of democracy. The American Revolution was foisted on a moderately discontented majority by a rabid and disciplined minority willing to commit acts of terrorism. Not much different today, only nothing's getting tossed into Bostom harbor. If there is nothing to counter Tea Party extremism on the other side it will prevail and we'll deserve what our political indolence begets us. If you truly believe in democracy, you are willing to fight for it, not your newocon ideal of democracy in a country like Iraq and Afghanistan, but in the streets of America now. Do democrats lack the guts to shout down Tea Partiers? If they do they deserve what they get. Frankly, I have not seen near enough rancor in the House and Senate. There is absolutely no need for civility at this point – it's a sham that hides the truth.
Yep.
if the opposite of "pro" is "con" only the smart ones out here will figure out the opposite of "pro"gess.
ok, so the quotation marks make it easy, but the point is the founding fathers understood the limitations in our system. we have now "pro"gressed to the point of those limitations. democracy is sill the finest system going, but it's time for a major enhancement.
But the American type of capitalism is beyond the pale. It rewards the greedy and stomps on those willing to work hard for a fair day's pay. Regardless of the democratic system, we have flaws that cry for resolution. Until these are fixed, the aristocrats will continue to inherit the US in the name of capitalism.
I agree, our system is broke. There are two party's that fight for control over our Government and to achieve this each side makes out the other side to be a bunch of ant-Christ's. Billionaire's control the media and they tell us how to think and vote.
We have lost all control over our government and I mean both party's. We think we are voting in people who will do what is best for America, but that couldn't be further from the truth.
I was already cynical and then I had to go watch the movie JFK and realized that big fat cats run the country and are willing to even kill the President of the US in order to line their pockets with money.
Rich people need tax breaks in order to create jobs? A big huge LOL on that one. Instead they fire teachers to help create jobs. That makes a LOT of sense.
It's all BS and 3/4 of the country eats it up like candy because it's on the news, so it has to be true, right?
I used to laugh at those saying we need to go the route of the Arab spring and start over, but now I'm not so sure.
Corporate America runs America, not US citizens and they aren't interested in doing what is right for America, only their own pockets.
I'm so disgusted.
The inability of the right wing to compromise and consider the interests of all Americans, not just the corporate world, has led to this situation. It's the lack of progress by Congress to effectively problem solve that has led to this perceived instability. Hmmm. . . an economy-driven free market doesn't do well in the presence of instability. All actions and inactions have consequences.
We have a short-term problem, which is the Bush tax cuts and the doubling of defense spending since 9/11. The long-term problem is primarily healthcare and growth/employment.
President Obama, if re-elected, can ensure the Bush tax cuts expire in 2012 by merely vetoing any attempt to extend them. We can reduce defense roughly in half spending over a decade as we end the wars and reduce the baseline defense budget back to 3% GDP, where it was under Clinton in 2001, when we last balanced the budget.
Ex-bubbles and stimulus, our economy has only grown 1% for a decade. The bubble hid reality, which is that free trade with low wage countries is resulting in virtually no growth in jobs. From 2000-2010, we created 2 million net jobs, versus 15-20 million in each of the three decades prior.
Tax and spend decisions are important, but the big one is how we stop the exodus of jobs. With Apple employing 25,000 U.S. workers and 250,000 overseas, U.S. innovation isn't going to help us.
We have to level the playing field, charging countries with much lower wage levels a tariff to level the playing field, as we should with currency manipulation.
david...your post make far, far too much sense...it will never fly, but keep trying
Fareed is so stupid. He thinks democracy is the majority rule. If so, it is bad then because communist China, Cuba, etc are democracy. This naiive concept of democracy will lead to mobster rule. The beauty of American democracy is that it also protects minority which is the key to a civilized democracy. Fareed doesn't think small states should have a say. What an ignorant person who knows nothing of this country's history. He doesn't know the balance of power. He doesn't know that if number of votes is the only determinant, then we would have long been inundated by Latinos in California. Who brought down California? I dont think Vermonters wanna be like Californians. Who protect Vermonters, ...?
"Fareed is so stupid. He thinks democracy is the majority rule. If so, it is bad then because communist China, Cuba, etc are democracy."
China and Cuba are a Democracy? Since when?
Since the very beginning. When a person is denounced or demonized, everyone shouts "kill him! kill him!"... he gets no defense... watch how the Jews yelled when Pilate was "forced" to nail Jesus? Majority rule... that what most people think of demacracy, and that what democracy means literally in Greek. Study some history please.
Boehner and McConnel want to save us from all this debt. HA. Where were they when Bush’ GOP approved TWO wars without any funding? Then they didn’t raise any taxes to fund those wars, but instead brought in TAX CUTS for the rich. They put through a Medicare drug plan, but blocked any bargaining with the drug companies for cheaper drugs. They have cost us MORE over the last several years than anything the Dems have done. It’s time to get RID of these pocket lining idiots and vote in the party which has always been FOR the PEOPLE and not just for the wealthy.
Well Tea Baggers I hope you are satisfied. You voted in a bunch of IDIOTS that don’t know a darn thing about economics, politics, or more importantly COMPRIMISE. Thanks to these unbending morons, nothing was accomplished. Now that the S&P rating had dropped, in the next few days YOUR interest rates will go UP, your 401K along with the Dow will go DOWN and the whole country will be screwed. Look in the mirror and see how dumb you really are.
If you are fed up, write to your elected officials, they are the ones who need to hear us not ourselves. If you want to be heard in Washington send them and email, make it your FB status, Tweet this....
And so, my fellow American Congressmenan and Senators: ask not what your special interests can do for you – ask what you can do for your country!
seems they need a reminder of greatness and their mission...
We are all to blame. Apathy is to blame. We sit here and write posts, but what do we really do? We are all articulate, knowledgable and yet we complain online rather than effect true change. In the Middle East, many are effecting huge change at great personal risk to themselves and family. We have no such risk, yet our apathy is high. I'm not saying revolt. I'm just saying, stop posting, and start actioning what you believe in, or this county will and is being left behind.
No it is not democracy when the few of the country can block all legislation. It isn't just, it isn't right, and finally it is not what the American people deserve. When the few are Representative no matter there political agenda that is Democracy. When even the fewest of voices are granted the opportunity to allow there vote to be counted that is just. When the few are allowed to halt and decide the fate of the many. It is time for a change, and we will vote accordingly. The system maybe flawed but it is changeable, and that's the beauty of it. It will adapt to necessity of the people. You want the Politicians and the Government to change. Call them, write them, Vote for different politicians. The time for Change is now.
This is the same guy who was arguing for more stimulous... he's a central planning hack. The joke is even Keynes would disagree on how the government is run. What a half baked moron.
This is a good conversation. I WOULD ARGUE THAT POLARIZATON IS A 2 NOTCHED SYSTEM IN THE SAME DIRECTION. Like Sun light and moon light. It really is like a greater lesser reward system. Polarization is not The Tree of Good vs Evil. The reporters are having a hard time because for themselves they haven't clarified these comparison ideologies. This article REPRESENTS AN UPGRADE AND AN ATTEMPT AT A WORTH WHILE TO SPEND MY TIME ON CONVERSATION.
Yes, if interest rates rise a mere 1% or 100 basis points, the ten year budget deficit spikes $1.3 trillion because most of the stimulus borrowing was short term, vulnerable to refinancing rate rises. And to top it off, we didn't even get very much for all that spending and the Krugmans of the world are insisting on double/triple down. How much more vulnerable will we be if we keep deficit "stimulus" spending? Additionally, why is it that rasing taxes doesn't threaten growth but cutting spending does? Have we not dispelled the falsehood that we get a high multiple for spending yet?
Fiddling while Rome burns – all of them – accommodating only to their idealogical base, with no compromise. Meanwhile, the fires have started, and they cannot even smell the smoke from their high ground.
Yap, yap, yap. Everyone pointing to the opposing party blaming them for all ills, none accepting any themselves...it's the same old story of "blame-game" rather than just doing what will help us all as a country.
I say the system is broken and needs to be fixed. How do we start to do that in our political system? Vote every sitting federal politician out of office. A mandate such as that will demonstrate that the "buisness as usual" approach is no longer acceptable to the people those clowns are suppose to represent.
Just voting out Republicans and Democrats and replacing them with more Republicans and Democrats won't change a darn thing IMO. It will just be a new generation of Democrats and Republicans who are all just as bad as their peers. Money corrupts and their is a lot of money floating around Washington.
Billions are spent every year on lobbying. Where does that money go? In somebody's pocket. Who gets lobbied? Politicians. I rest my case.
Same old same old.
The polarization we have today is the direct result of the liberal propaganda corps that has been working in concert for decades. Zakaria is a prime example.
The polarization we have todays is from people like Mike.
Consider that during Reagan's 8 years in office he roughly tripled the national debt. Given that Obama started with about $10T in debt, to keep up with Ronald Reagan's rate of ballooning the national debt, we would need to hit $20 T by 2012. It appears he'll fall short by at least $4T.
Zakarias is not even an American, who cares what he thinks. Go back to Pakistan or Sri Lanka or wherever you stowed away on the banana boat.
Air your dirty laundry before the world and suffer the consequences. Reed the boxer vs. Boehner the patriot. Symbolism over substance. Blame the patriots that support common sense. Result: America and the world lose the light.
Send the Furreners back where they belong, close the borders, bring our troops home, send Liberals to Siberia or Afghanistan, close down the UN and Wall Street and Americans will do just fine.
Send republicans to Siberia
we will be fine.
How about those locked doors during Obamacare negotiations? Where was that compromise? Apparently only the Republicans and Tea Party need to compromise!
Political polarization happens when you have two political parties interested in playing politics and not governing together. We've rewarded fringe behavior with attention and now we are sharply divided as a country. I find it frightening that supporters of both factions come on here and blame the other side, just like the impotent leaders in congress. I'd love it if we didn't get a single press conference, interview, newspaper op-ed piece, etc, from any politician anymore. This brand of news, where you hear one extremely biased opinion after another, is extremely harmful to our country and doesn't foster the values of teamwork that I was told at a young age, are important to getting through life.
Let's face it, neither party wants to share power, and that is one big part of the problem.
Congress represents a divided America..even more so than in 1860. The Left wants to destroy American values, create a one world government, get rid of our sovereignty so that foreigners can take over. The Right cares nothing about stealing all the wealth from Americans and shipping it overseas to their Capitalist Oligarchs. Get rid of both groups.
Yes, both parties are vehemently opposed to whatever the other party believes is imperative for success. However, suggesting that you can get rid of both parties is totally impossible.
What COULD be done would be for some many of these "independent" voters to register with one party and take an active role in primaries (where open primaries do not exist). Others who are disinterested in politics should be assertive and take an active role in primaries. Why? Until both sides start to pick candidates who are closer to the center, we'll continue to have this devastating deadlock. Right now we're stuck with two extremes, neither of which benefits our country.
Divided: That's an excellent suggestion. I hope people pick up on it. I often don't vote in primaries but will from this day forward. Your idea is the only thing that has made sense to me in this entire debacle.
Amazing how clueless most posters are about WHY the country is in it's current economic situation. Perhaps their recollection of history doesn't extend past their year of birth, or maybe they are simply to unintelligent to grasp it.
The USA was definitely on top of the world in all areas, circa-1945 (post WW2). Unfortunately, completely idiotic decisions were made to ensure that the great gains we made to position ourselves at the top would simply be eroded with every passing decade that followed.
Fast forward to present day, the ignorance of past and present Americans that allowed "let's buy products made from a foreign country" to be a way of life to live by has come back to bite everyone in the ass.
Until we start saying a hearty FU to all imported goods, the USA will simply be the world's puppet.
We already are. We are a colony of China; they take our resources, sell them back and hold the mortgage.
So you complain that the Senate was too busy to confirm appointees and it's the republicans fault. The issues you mention all were attacked in the first few months. The truth is they spent a year trying to force through a horrendous health care bill and ignored everything else. The democrats had a supermajority in the Senate and couldn't hold confirmation hearings and couldn't even pass a budget in two years. Somehow, despite all of this, you blame republicans. Get a clue. You call yourself a journalist?
What will it take for some people to see all the ties between George Soros, funded 140 socialist-commumist organizations and Obama.? i found out all i needed to know when i discovered that Bill Ayers, a well know commumist wrote Obamas' two books. From Dreams From My father; I found a solace in nursing a persavie sense of grievance and animosity against my mothers' race. I never emulate white men nor brown men whose fate didn't speak to my own. It was in my fathers' image, the black man, son of Africa, that i packed all the attributes i sought in myself: the attributes of Martin and Malcon,Dubois and Mandalea. Audacity of Hope: "I will stand with the Muslims should the political winds shift in a ugly direction" Obamas' administration is full of socialist and commumist supporters and even advisiors. As it is today, most political experts give Obama a good chance of being re-elected. Visit george Soros site and find out the organizations funded by him and how that affects us. http://www.AmericaRevealed.com George Soros: America must stop resisting the orderly decline of the dollar, the coming global currency and the New World Order.
CNN is clearly news for the stupid. I've read only about 2 or 3 intelligent comments on here. Way to segregate educationally, media!!!
I could not agree with Fareed more. What's disturbing is to do a cursory reading of the responses, all of which seem to just fling out the same talking points that got us here. Yeah, yeah, Bush and the wars and unfunded tax cuts are to blame. Yeah, normal people have to balance their own budgets. Yeah, everyone is locked into their positions and ready to blow up the entire country just to make a point. I for one would love to see sensible people sit down around the table and come up with sensible solutions to really difficult problems. I'd be happy to make everyone tea and cookies if they simply promised to use their brains for once. Fareed is right. We voted for this and now we and our children have to live with it.
Mr. Zakaria,
Thank you for your presentation. You have said my mind. American people needs well shake up with good and correct informations. Some media plays the role of propaganda. CNN and you are doing good job. With right informations, people of America will not do mistake. Their will has been hijacked in last November by group of people. Thank you again.
Obama and his administration has had nearly 3 years to deal with this; plus when you factor in his 4 years worth of campaigning, we are talking around 7 years worth of planning. This proves he needs to be voted out. The next president is going to get lashed for having to cut everything that needs to be cut, but in the long run he will be shown to be a hero and that Obama was a joke.
Without the truth, there can be no real morality, justice, equality, success, freedom, love, security, peace, spirituality or even survival. If you are seeking the truth, search "Truth Contest" in Google, then open The Present on the homepage and read what it says.
As usual, sane analysis by Fareed. At exactly the time we need to be pulling together as a nation- for the benefit of the vast majority of the citizenry. We have had to deal with contrived conflict, and deliberate non-cooperation specifically designed to divide us & to try to tank the economy to defeat President Obama. The ONLY hope we have is to re-elect President Obama, vote IN Democratic super-majorities in both Houses of Congress, in 2012.
It'll be interesting to see the results of the Wisconsin recalls- Enough with the debate society tactics-
osama obama is a commie .Elect him to Russia.
Inflexibiity in any system creates disfunction. Systems only function when flexibility is built in, whether that system is a family, a mechanical system, the components that make up a bricks and motor building - or a political system. As many realize, the U.S. no longer has the flexibility that's necessary for the country to work.
Our Givernment is broken beyond repair. It is time to enact our right as a republic and sever the ties that bind us to this unrepresentative form of government. It is time to create a new society under new leadership.
Everyone has an opinion but in the mean time our country is falling apart. Republicans and democrats are to blame for this mess and while we are being mean to each other here Pelossi flies private jet using our tax money, Michael Obama goes to Spain on vacation using Airforce One all costed with our tax money (Republicans do the same). Did you know tha 1400 millionairies did not pay taxes in 2009? Think about that people.
Neither did 13 milion illagel aliens and 100 million on welwfare
TERM LIMITS – Get rid of career politicians !
Term limits are a farce – they result in dozens of amateur politicians who have to cling to whatever money or groups they can attract to stay in office. All the evidence points to career politicans in well-entrenched districts being far more effective.
The Republicans and the Tea Party must go – and never be allowed to return. Period. Otherwise there is going to be another civil war on American soil. It's just a matter of when, not if. As Fareed said, the government is clearly broken. As long as there are the Tea Party/GOP in their current incarnations and twisted, illogical and misguided ideologies, they should be considered a cancer on the country, the people, and the economy.
Not if we send you commies back to Russia
The Democrats and Obama must go – and never be allowed to return. Period. Otherwise there is going to be another civil war on American soil. It's just a matter of when, not if. As Fareed said, the government is clearly broken. As long as there are the Demwit liberals in their current incarnations and twisted, illogical and misguided ideologies, they should be considered a cancer on the country, the people, and the economy.
We are going to keep going downhill as long as we keep electing democrats and republicans! We are all being controlled by big banks and large corporations. It is already to late to break the cycle. What is coming is inevitable!
You do understand, that it really doesn't matter who is blame. This is what we've been doing, and look where it has us now....AA+. One of the key elements from S&P is that our government is inept to develop a balanced budget. Congress either comes in rich, and leaves richer, or comes in poor, and leaves rich. They vote on their pay increases which, to me, is meritless from their over 10 year history of poor policy making. What SOUND business would give someone a pay increase for poor performance? We need tax reform, no just increases or decreases in taxes...REFORM. Large tax cuts end up leaving the country by investment in higher ROI countries. We to cut a little fat from the BIG 3. We need to stop giving tax credit for purchases outside our country, we need to limit the amount of money we send overseas to nations that really have no faith in us or like us, we need to also promote trade with larger nations, ...so much more. I don't care what party you're from....in the end, you're an Ameican...start acting like one.
Until the opponents of liberals stop opposing liberals, then liberals will always complain that their opponents are opposing them. Go figure.
This is not polarization. This is one side that is so extreme that their very goal is paralysis.
This is wanton sabotage by the Republicans.
WassamanShlitz said it best....we the Democrats own this economy now....
Obama and his acorn nuts still want to blame Bush, blame Bush, blame Bush.....talk about parroting lib talking points...you all still got that blame someone else mentality...and by the way, why do ya'll get so
bent out of shape over Palin and Bachmann..women who can think for themselves....you guys are like the Taliban...afraid of people, especially women and minorities who try to better themselves...lets just keep everyone on food stamps and welfare, and treat them with Obamacare...still gettin those chills up your pantslegs from Oblahblah
Palin and Bachmann..women who can think for themselves....
You have GOT to be kidding right ?
hahahahahahahahahahahahaha
best joke on hear yet.
Fareed Zakaria is a Marksist fool and osama obama cheerleader.
No, stupidity got us where we're at. You can blame the republicans or the democrats all you want... I blame both. The sooner people realize senators and congressmen are only after what benefits them personally (or benefits the lobbyists who give a them a generous kickback), the sooner people realize that the time has come for the nation to stand-up and physically remove these idiots from office.
See, this is just what they want.... the populace bickering over which party is better (or worse); knowing full well we'll keep bickering while they flush our country down the toilet.
While I hate to use a slogan like "take our country back"; it's just exactly what we need to do... by force if necessary.
I'm in... are you?
I pooped my pants
The article has one fatal flaw in his argument. This is not a democracy. It is not MOB rule. The majority can be as tyranical as a emporer or king. This is a republic and it was designed to retard, boggle, and change very slowly. Laws need a complex vote to pass through multiple houses and an executive. A legislature can trample a man's property rights just as well as any king (if not more deviously). We have no need for a new system–no need for a new government–this one is working just fine, the way it was designed.
The ship of state is not a racing stunt boat, but a large craft that should only change course gently and slowly.
The system is "broken" because we stopped bothering to invest in proper education. Ignorance breeds strife. That is why our founding fathers were so interested in education. When we vote idiots into office because we are idiots ourselves, it is our own responsibility to re-educate and re-think for ourselves. I wonder how many people will bother. I fear most will simply cling to the beliefs and politician we already have.
Surely you're not touting the idea of putting even more money into education. The Dept. of Education was created by Jimmy Carter. Need I say more?
No, please don't.
Yeah, lets just keep everybody stupid.
Just like Republicans.
I find it very strange that the same people who are hurling the "Marxist" and "Socialist" words as if they are insults, are the same people who want to bring down rich people. Sorry kids. You can't have it both ways. Wealthy people are a product of capitalism. If you wish for their funds to be taxed or taken away from them, then believe it or not YOU are a socialist and maybe even a communist! I know, I know, there's not many books to read in that trailer park where you live, but take the ol' pickup truck down to the library and get someone to read a book on the subject to you (there probably won't be many pictures). And for those who's memories are so short that they are blaming this whole mess on Obama, go back and check your statistics, during Bush II's reign of stupidity, our national debt increased dramatically because of the money he was borrowing off the books for the wars. His relaxation of banking regulations is exactly what caused the collapse in 2007, but luckily for him, he handed the whole mess to Obama after he had authorized the billion dollar bail out for his banking buddies. And for you clowns who keep calling it "ObamaCare" your beloved REpublicans had a lot to do with that bill. And really, at the end of the day, all they're trying to do is get you cheap healthcare. Like what Congressmen get. Like Medicare. Why are you so afraid of that? Do you LIKE paying $250.00 for a doctor visit?
Well, that is the plan for lowercost healthcare, but in reality it increses the costs drastically. This needs to put on the backburner for about a year, or 6 months until congress establishes a darn budget. Again, Obama's healthcare bill was a good start, but a bad direction. Fix economy, then fix healthcare.
Let me see if you can learn anything new from your trailer park, Steve.
If Obamacare is so great how come so many liberals were voted out. Why arent they and Obama out there touting the great plan and how wonderful it is. You have been drinking the kool aid and someone has convinced you that it equates to cheaper healthcare. Hahahah! It was about unions and government control. Thats all. You can believe what they keep telling you
or try to learn something new. Next election, see how many of those same libturds who voted for that will be hiding from that same vote. Most people work for what they get. Apparently, it is something liberals can not grasp. If it really works, then you go out and continually spend $1.40 for every dollar you bring in. Simple math really. The reason the people don't want any more new taxes is that government cant be trusted to make the tough cuts that are required to go along with them.. just look at Social Sercurity, US Post Office, EPA, Dept of Ed,Fannie Mae (needs $5 billion more, ets ets etc
libturds
Another 6 year old ranting from the basement.
Did anyone notice that the 8 yrs that the democrats had the house and senate, they doubled the debt from $6T to $13T. The dont care, they are emotionally driven immuture people. Its time to reinstall a new gov't before we are a 3rd. world country. No revolution/ just start over with business owners that arnt corrupt that know what they are doing.
Just to follow on with the concept of cutting taxes in order to raise revenue, if we cut taxes to zero we would be rolling in revenue. We wouldn't? Darn. Anyway, not sure where Mr. Zakaria was going in terms of a solution, I think the people mostly understand what needs to be done. However, our politicians don't seem to really care about the United States as a nation anymore. So I'm thinking that perhaps term limits for Congress make sense now. Maybe they wouldn't be adverse to modifying the Congressional rules so that democracy would again be feasible. I voted for the President, and he is brilliant but I'm not sure he can be the leader we need to get us on track. On the other hand, I'm not sure the political right can do anything but complain. Say, this is sounding pretty bleak.
Here in America we wake up each morning and we go to bed each night, there in line provides us with a true daily function. Now take this concept and apply it to the way we run our federal goverment and you have the oppisite. You will find members up all night and sleeping all day. Think about it...... you can never truly survive if you are always up. In the federal goverment they are ALWAYS up..... and its hard to take care of yourself that way. I appreciate the way this regime is trying to set us of the course and turn this ship around, remember when Mr. President started this he said that it was going to get worse before it got better, what are YOU doing to help? That is the real question???!!!!!
They can't tie their shoes!
Without a doubt teabagger lawmakers celebrated the credit downgrade. Such a thing was their goal all along for the debt ceiling "crisis" that they manufactured. They also represent the ugliest,t mob-mentality ever to disgrace the US Congress. Their strategists believe that the tail can wag the dog and ultimately destroy the dog. I am not a fool. I clearly recall one of the earliest teabagger mantras: "to flush the U.S. Government down the toilet."
Reason isn't useful anymore. This world is disgusting. CNN should just remove this comments section as it only serves for the "special" types to spew their stupidity. It's like you guys try to out stupid the other with more and more outlandish claims and sourceless "facts". I know a great deal of you are "ANNONNOMOUSE LEEHGIUN" types who are just being "trols" but I also know a fair number of you are actually serious about the amount stupid you spew. Humanity is a failure.
Zakaria for president!
The first and foremost priority for saving the country is to view moderates and compromisers as the constructive, forward thinking and dynamic forces they deserve to be seen as- not weak and clueless, but in fact strong and rational. People have become so obsessed with winning, revenge and gaining the upper hand that it has poisoned every aspect of the culture, politically, economically and socially. In every single society, big and small, powerful and humble, it is always the moderates who are the glue that keeps it running. Without a respect for them, all is lost. Vote for people who are moderate. Resist the temptation to exact revenge. At this point it's not about being "weak"- it's about the survival of the country. Seriously.
Welcome to the modern era version of "Mass Hysteria". It get's uglier from here . . .
If you voted for Obama in 2008 to prove you were not a racist, vote for someone else in 2012 to prove you are not an idiot.
The idiots have you voting for them, why bother?
So class, what have we learned here? Anyone? Yes, that's right. LET'S ALL VOTE!! And let's all remember who gave in (caved in, if you will) to the other side's demands and who acted like a bunch of spoiled brats, digging their heels in on a totally unreasonable position on tax revenues. Let's remember all that when we go to vote.
I'm such a dreamer...
Worst ... Congress. Ever.
Please, no tax increases. Taxes are aleady to high. Stop the wars. Closing truly discriminatory tax loopholes is OK. No more wars, laws, or regulations w/o passing spending cuts or add'l taxes to pay for them. That would be a pretty good "brake". There would have been no invasion of Iraq if the voting public had had any idea what the real costs would be in money and lives. Why are we still in Afghanistan: nation building?
How can you say taxes are to high, when they are at their lowest levels in 60 years!
Because right wingers make up their facts!
Try adding up the true tax burden of somone like me who barely qualifies as wealthy: fed taxes, FICA, state taxes, real property taxes, personal property taxes, sales taxes, alternative minimum tax–easily over 50% of my earned and investment income.
TAXES ARE "TOO HIGH ALREADY"? YOU HAVE no idea WHAT HAS BEEN THE TAX RATES IN THE usa. iF YOU PAY THE TOP RATE OF 35%, i WILL TRADE PLACES WITH YOU IN AN INSTANT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Lets stop the BS, we all know the Tea Party is to blame. They are too idiotic to realize what their actions have caused.
Agreed!
There's one solution: declare all registered Republicans guilty prima facie of treason, then begin the arrests and executions. Put the more famous ones on PPV, with all revenue going directly toward reducing the deficit. I, for one, would be happy to pay $34.95 to see Michele Bachmann swinging from a noose or Rush Limbaugh frying like bacon in Old Sparky.
Just because we have freespeech doesn't mean you should utilize that much.
Take a look at Boehner`s face, he`s got the look of the cat that ate the canary!
Hea Don't Say WE! I had nothing to do with this nor could I control the rich greedy bankers and stock brokers who have my tax money for their bailout. So let me get this. My tax money went to bail out the greed rich bankers and brokers, who are friends of the GOP. I am now told by the GOP that I must sacrifice when I have by loosing my job when the company went to China. And on to of that the rich scam artists of the GOP tell me that I should not get Social Security or Medicare, because the US has no money.
What about taxing the rich bankers and brokers and companies(that take our jobs overseas)? Is that really a bad thing? they have had the Bush tax cuts for 11 years and how many jobs have they created...in the US?
I think elementary school kids can make better decisions than our current dysfunctional government. What a discrace.
That batty Minnesota moron said there would be no consequences. Just make her look at the DJIA for the past week. She got her $264,000 "family" farm subsidy just in time, huh????
Your an a hole
Fareed Zakaria-osama obama ,reid polosi are out ,American workers have had it with your corruption.
So, You blocked more of my posts. Go to Hell, CNN!
Is this becoming the Tea Party's economy?
Fixes that should be implemented:
Simplify the tax code for individuals and corperations, remove almost all deductions. Rates can be lowered a little bit, but we still need to bring in more revenue than is coming in now.
I've heard talk of creating a infrastructure bank to fund the building of our nation's infrastructure, this sounds like a reasonable way to increase spending on this vital part of our economy.
We still need to improve our education system to compete in the global economy.
We need to take seriously climate change – a straight forward carbon tax would be the simpliest approach.
Increase funding for all kinds of scientific research, you never know where the rewards will come from.
...SAVE the RICH.............VOTE GOP
Expenses-Income (Balance) What is tough to understand? Hell with the Economics 101 and sub.
economics is a dodge, economists themselves never get it right, and here you have some rightists spewing their fearful anti social delusions about what is economically right, economics even when predictions are correct are secondary, it is the decline of the ideology, the grandiose chauvinism and it's partner racism that is behind the polarization, address that, and all will fall into place
Fareed asked, "Is that how a democracy should function?"
Answer: Yes. That is EXACTLY how a democracy is supposed to work. Those on the right did what the people sent them to DC to do. Those on the left did what the people sent them to DC to do. The fact that the result is sub-optimal means that the people will again express their will in the next election.
The acrimony and finger-pointing after the fact is only important to the news media because it is easy news, about the only kind reported today.
Good point. Hopefully, after the next election, the situation will be less "sub-optimal".
Blame blame blame. Your group is ignorant. Blame blame blame. Your side did XYZ which cause this problem. Blame blame blame.
There. That sums up just about the whole "conversation" here.
What we need is a progressive president such as Theodore Roosevelt
That's right ! A republican busting Standard Oil trusts, opening national parks, digging the Panama Canal, and charging up San Juan Hill with his private army!
The majority of our politicians are only concerned about getting reelected. Thus, they will not do anything that "angers their base". They don't really care about the future of the country.
As much as I sympathize with your comments the reality is that you are pointing the blame at the wrong persons. If you want to locate the problem and you voted for one of the politicians look into the mirror. If you didn't vote for them, look to your fellow voters who are swallowing whatever liberal balogna CNN, Oprah, and Whoppi are selling.
Blame everybody but the failed socialist policies that CNN has unwaveringly promoted instead of reporting the new. In a effort to save face or more important save credibility they will no doubt turn on Obama along in lockstep with their fellow socialists.
It is obvious that as a result of the Fantastic policies he promoted to those who trusted he had a better idea, he has become the President of fantasy land. But what should you expect when the electorate is taking their advice from Oprah and Whoppi.
Socialism would be expensive, right? So, explain to me how we have "socialist policies" on a budget from a 14% taxation rate? The lowest taxed country in the industrialized world !!!
That means we have the least socialist policies in the industrialized world, right?
Time to raise taxes, up, ...way up.
Wow!! Reading these comments it isn't surprising our economy is in such bad shape. We squabble among ourselves just like congress does. Good bye USA. I'm going to miss you.
Where are you going? Is it to one of those socialist countries with a AAA credit rating?
It's a sad state of affairs when kids under 12 are more respectful and responsible and caring than the so-called adults who run this country.
SIMPLE! You can NOT have 1) HIGH government services 2) HIGH government benefits 3) LARGEST military in the world AND LOW TAXES. Duhhh?! Is this too difficult for politicians to figure out? Maybe we need to recruit a group of intelligent boy and girl scouts to explain it to them in Washington!
Fareed Zarakia offers only pablum – nothing new. He loves to wallow in doubt and rarely proposes anything substantive.
democrats are heroically 'unyielding' while republicans are 'bullying'. Fareed, isn't this the sort of poisoned rhetoric that you are complaining about in your opinion piece? Perhaps you are part of the problem in Washington? Why don't you stop defending the status quo of inside-the-beltway self-interest, greed, and corruption and highlight for the American people the real problem. The problem in washington is that it exists and has far too much power. This country has stopped being a United States and has become a neo-Roman empire with Washing the new Rome. How can our country be at the point where we spend $640 billion per year on war and weapons and no one in this country can do anything to stop it? How can we have created another massive bureaucracy like homeland security when we already have more federal law enforcement than we know what to do with? How can the USA accept terms like 'homeland' when describing one of its most massive gov't agencies? Stop with your agenda against republicans and the tea party and tell the truth Fareed.
I guess we should look to Fareed's home country (India) – or other muslim nations – to see how to do things correctly.
We have demonstrated to ourselves, the world and global markets that our political system is broken and that we are incapable of conceiving and implementing sensible public policy. Bullcorn.. our political system is NOT BROKEN. Get a grip... you are sounding like a Teabagger Terrorist.
That's dangerous talk Fareed. It's similar to the polls that ask Americans if they would rather Obama be a dictator. No one wants that.
Lets get some scientist, engineers, anthropologist, economist, and teachers in congress. Lets get these political ambitious lawyers out and some people who know what they are talking about to make the decisions for what's best for our citizens!!
The problem is the non-lawyers don't seek the stress nor the power in Congress. But your idea is good. Lawyers can write some pretty complicated and opaque laws.
The power they have is crippling out government to perform its duties. The power has become political, and not productive. The people who can have informed debate, and then decide, and have a rational decision, and then act on it is lost, on both sides of the isle. The power is when our citizens have confidence in our Gov., and believe what they decide is in their best interest, which 80% do not. Thanks for responding.
i am sick of these noncommittal blame laying articles. Write the truth. The republicans are the problem, simple and true.
Call them the right way.
We need a leader like Churchill? Totally! We actually have one... but he's black, so we need to keep looking, apparently. Sigh. It is what it is, I guess.
Well, achemm, we had a leader, Franklin Delano Roosevelt, without whom, Churchill would have been just a powerless bankrupt blowhard with a glass of scotch and a cigar.
I'm frightened to say it but I fear that we are headed toward one of two possibilities:
1) The ultra conservative wing of the GOP (Tea Party, etc.) will be discredited and tossed out, in favor of the intellectual Republicans. This could spur a new era of bipartisanship and bring about reforms in the vein of what what took place in the 60s and the 80s.
2) The ultra conservatives will take full control of the GOP and our country will fracture long term. The American dream could be over forever.
The comments in other articles regarding our need for a Churchill I think are very true. But who would that be? The racist forces that are sweeping the country make it unlikely that would be Obama.
I think the United States government look like fools and worse to the world. What do we care you say? We need the world and they need us. But our leaders look like they are bickering biddies. The new crop coming on don't look any better. I'm sick to the max of our political leaders. Sick because I wonder if it will ever change? These people are representing us? I don't want to look like a fool so how about if they stop representing us this way? How can we stop this madness? Bring back Richard Reich, Bill Clinton's Secretary of Labor. Currently he is professor at Berkeley, but he created jobs as secretary of labor. He was a straight arrow and was an effective part of the govt. Please come back!!
This deplorable economic black eye is the product of electing a neighborhood organizer with ZERO real world economic or free enterprise experience as President of what was 3 years ago, the world's leader in everything but losing. Today the socialist morons are actually blaming the "Tea Party" for the country's ills. A party with no power and almost no following. That's like blaming the U.S. Military for the Holocaust in WWII because they proved to the world that it existed. Well, lefty loonies, that's EXACTLY what the Tea Party did to you and your destruction of America.
They blew the whistle.
Thank God for a few folks with a backbone.
The single most significant cause of our problems right now is something called "The Bush Tax Cuts." Remember him?
Arbusto Energy.............an Oil company run by George Bush
went belly up due to mismanagement.
This may be the only "failed" oil company in history.
And you people voted him into office..........TWICE !!!!!!!!!!!!!!!!!!
Dear Right-Wingers who have absolutely no idea what they are talking about, and zero actual accurate economic facts to back up their "truth": http://www.theatlantic.com/politics/archive/2011/07/the-chart-that-should-accompany-all-discussions-of-the-debt-ceiling/242484/
Anyone insisting that the Obama administration is responsible for more new spending than the Bush administration is WRONG. Period. End of story. And if you continue to insist that you are not, you are either A. insane B. an idiot or C. a liar. Facts are facts.
Invalid comparison – Bush was in for 8 years. While they did projections ( and we know how accurate those are) of what Obama did in one year we so far don't have 8 years of his policies to compare. And as I recall we were attacked on 9/11. Are you saying Obama would have had no increase in defense/security spending? I don't like his policies but even I believe most if not al of that spending sans Iraq ( I don't like Iraq either) would have occurred. I take that from the fact that President Obama has continued Guantanamo, re upped on the Patriot act, kept most of the key players in place (Gates, Mueller, Petraeus for example) and did not leave either Iraq or Afhanistan as he said he would while campaigning. Giving credit for all savings for a war wind down is bogus unless you assume he would not have engaged in Afghanistan. Other programs yes, he ca take credit for that.
(I honestly can't wait to see what crazy gets posted to refute the chart. Bring it on!)
The American Party, the 3rd party that starts from the bottom up, which is absolutely necessary since the top are dysfunctional. A 3rd Party is the solution to the two fighting parties, the two party broken system has finally broken a system that wasn't broken.
ASKFMB.COM discuss the two party system, which is actually equal to what the original American did, the outcast started all over, and now, we can too.
The American Party, ASKFMB.COM take a look and see if it's worth considering.
ASKFMB.COM
The economy won't improve until obama is out of office. I am amazed that anyone is stupid enough to continue to support him. His legacy includes being the first president under which the US' credit was downgraded. I don't know if we can survive his final 1.5 years.
Yes, we should restore the policies of the previous administration, which got us here in the first place, and reward the obstructionist policies of the Republicans in Congress, which led to the S&P downgrade. I can see you are on top of it.
I respect opinions of Americans commenting on American faults.
You know, I am really getting tired of the America bashing coming from this guy (Fareed Zakaria). Coming from the largest failed democracy in the world, he really shouldn’t throw stones.
"America-bashing" = stating facts and offering clear analysis of the causes of some obvious problems. BURN THE WITCH!
Dont like the message
shoot the messenger.
The elected officials you complain about were raised Americans, taught in our schools, raised by our parents, watched American television programs, and are a direct product of our culture and values.
If you don't like what you see, try making the change within yourself. The sooner we all claim responsibility for where we are as a nation, the sooner we can unite and start making changes.
It all starts with you. Are you ready?
Correct!
What can I say? Zakaria is right.
Our overall national debt was cause by 60 years of fiscal irresponsibility. Republicans, Democrats, Liberals, Progressives, Conservatives, and Tea Party all have contributed to our current political and economic mayhem. Before George Bush II showed up on the scene, most of our presidents were centralist. After the events of 9/11/01 and election 2000 occurred, everyone holding a political office became extremely polarized. Bush took us deep into one direction, and Obama is taking us deeply into the other direction. All the party loyalists (voters) splintered off like we went into a very serious ideological war.
I don't want to fight my fellow Americans, nor do I like being pulled into two extreme directions.
We have been feed hate by news media outlets, political leaning websites, political parties themselves, and two recently positioned presidents. Heck, Joe Biden and Dick Cheney are selling their polarizing party lines like they are selling cars.
Bush and Obama never once talked about social tolerance. Instead of bringing light to all the hate, both gentlemen took advantage of our differences.
I love all my fellow Americans. Regardless about your life philosophies, origins, and religions, I see a group of innocent and hardworking individuals being twisted by those who hold office.
Yeah, I want to have taxes cut, but we just can't do that at the moment. We have a responsibility to ourselves and our children to get this right. In order to get rid of the national debt, we must see it as a national goal. Cut spending, raise some revenue, and roll up our sleeves.
Our greatest enemy is from within. Its called fear.
I love you all.
The House passed a bill with $4t in cuts.... the Senate refused to vote on it...
Plain and simple... Harry Reid caused the US debt rating to fall from AAA to AA.
the only thing worse than whining liberals are...no, wait...sorry, there's actually nothing worse.
Us outsiders often wonder why Americans can't get along... your posts are a perfect example of the hatred and ad hominem attacks that your politicians are doing. While your politicians battle, the people battle each other – name-calling, rhetoric, pointing the finger of blame. Always at war – outside and within.
What a mess and it appears ti will get only worse. I'm fortunate to be able to watch these crisis, one after another unfold from afar.
As politicians argue over how to stop borrowing money. Long term investors are wondering who they might borrow from in the future when we no longer offer them our gold standard. So we are seeing investors pull out as they try to figure out what the next gold standard is. We are essentially handing our leadership over currencies and finances to whom ever will accept it. Most likely we are speeding up China's insertion as leader of the free world.
All I can do is save money and not vote for Republicans.
...and, I say, "Its time for a serious reboot of our entire political system."
Vote them all out and find some centralist. No more extreme political ideologies.
Democracy with poor leadership is as bad as communism with poor leadership, but both systems work well with good leadership. We need a revolution to wipe the slate clean. Things like healthcare, which now focus on profit first and health the very last, due to absolute greed, need to be tightly controlled – socialized, if you will. Any doctor or nurse against is nothing but a fraud, as are our pathetic politicians...
http://www.usdebtclock.org/
Govt-Over Spending is the problem....USA Europe. For the sake of my 7 Grandchildren cut my SS Benefits, I am 60, less than 65K household income and I say I will work longer, Take less and cut out all the BS in Medicare like all the "FREE " moterized wheel chairs and the like. Cut Government Spending.
The irony here is that this is the SAME S&P that had AAA ratings on all of the MBS (motgage backed securities) CDO (collaterized debt obligations) and other SIV's (structured investment vehicles) that brought our financial system down in 2008-09 becasue the "investments" were in fact, in many cases...WORTHLESS!
@ beatnutz,
Do you know what man? I think this downgrade was a very important psychological event, which needed to happen at this point in our national history. Even though the downgrade stinks to high hell, we really needed someone to give us a wake up call. We had one president that overspent and over cut (Bush), and another one who wants to overspend without strategic cuts (Obama). None of the political parties said, "STOP!"
Its time to say, "Enough".
No more excuses. No more party extremism. No more pointing fingers.
We have a lot of work before us, and being stuck psychologically will not solve our issues.
Enough.
fareed you are such a tool for whoever you blog for. thinking 20 billion is a small amount?????? anyone would gladly take that money in a heartbeat. but you ask for bigger change, well we have to start somewhere right? you writing adds feul to the fire you are not unbiased you have an agenda also. also every congress feels like now is the time to invest in education, science tech. that is nothing new. and now finally there is a group of people who stand up for what they believe stand for some or dont stand for anything and get out of the way. It is far better than to always comprise, we have compramised ourselves into this debt. please be a little more open minded. lately your has become negative. small govt not bnig govt.
I'm glad Obama is still partying like its 1999 while his delusional supporters stand in the unemployment line and blame Bush for their misery. Reminds me of the Palestinians standing behind their hypercorrupt "leaders" like Arafat (and Abbas) who pocketed billions in foreign aid and while blaming Israel for all their misery.
The irony is rich...
This guys is completely unqualified...why does anyone listen to what he has to say. HE IS A JOURNALIST!
Good point but doesn't the president fit the same holster. Give Obammy his own reality show during prime time and people will soon forget he's on just like "NY or Jursey" Wives! Just another BS show wastin urs time.
Fareed is nothing more than an Obamist. Slogans and lies. Fareed and Obamist are both Marxist dogs.
REPUBLICANS ARE THE PROBLEM.
and so are journalists who ALWAYS BLAME BOTH SIDES EQUALLY.
gutless sniveling cowards.
Seems pretty simple to me repubs under Bush went stupid spending although I have to give them they did need to retaliate against al' queda, but the economy was sort of OK until 2007, then along come the dem's and they started making the repubs look not so bad and the spending got even worse, then we get mr. obama and he everyone how to really spend, then comes the tea party and they say STOP and the spendoholic's can't get it through their thick heads that they have spent the country into a huge hole. You can raise taxes but if you take money from the rich, that is money they won't use to create jobs. Which they won't create anyway because of stupid regulations.
The one thing I don't understand with all the talk about high gasoline prices why don't we OPEN some drilling? Wouldn't that create JOBS, how about building some power plants, maybe a couple of refineries (we haven't built any in over 40 years) Oh and here is a novel idea, how about the dems get off their lazy buts and present a budget? FIRE ALL OF THEM THAT HAVE BEEN IN MORE THAN 2 TERMS. The longer they are in the worse they get. Look at Pelosi "we have to pass the bill so we can see what is in it" And they call the repubs STUPID.
No comments on this disgraceful behavior of republicans. It looks like irresponsible kids behavior. I have been voting republicans ever since, but now, no more. What they did it's more than irresponsibility, it's a shame.
How come a deal could only be reached on the very same last day? Oh boy, this is ridiculous! Myself, my wife, my whole family, we are voting democrats from now on! And as we do, millions will too!
You never voted for a Republican in your entire life.
George SCosta, So you're drinking the Obama Kool-Aid too? If it were not for Republicans this country would have been spent into a 3rd world mess by now. It still might if slow-witted people like you are allowed to breed and vote.
Bad Tea makes people sick.
Republicans? how about the dems, what did they present? Nothing that I could see. You do know if you create jobs, that creates taxpayers right? If you tax to much the money the business' spend in taxes is passed on to the consumer, or does that process elude you? How much good did the close to 1 trillion dollar stimulus do if you weren't a teacher or auto worker or banker or on welfare? Please go to the treasury dept website and look up some facts on spending and taxation. Also go to several website's liberal and conservative, you can get alot of information to compare and research.
To the world we appear as a house divided, which we are. Until we are willing to point the finger at the real culprit that got us here little is likely to change. Ross Perot was right, the ills of Free Trade have come home to roost. As unpopular amongst the beneficiaries of Free Trade the rest of us suffer. It only takes a pen to correct the problems we now have and turn the unemployed back into tax paying citizens.
"Republicans, emboldened by the success of their bullying..." Typical Fareed psuedo-journalist/terrorist promulgation. This punk is giddy that that the US was taken down a peg like the liberal terrorists in this county wanted all along. Shame on CNN for giving this illegal alien SOB a forum.
Fareed is a political hack. Why is he being employed by CNN to push the Obamist party line ??????
Can somone tell us when was the last time Obama met with Bill Ayers ? I know he was at the inauguration and has been seen entering the White House from time to time.
Time to leave Harry Reid. You refused to vote on a bill the offered the $4T in spending reductions that the S&P stated was necessary. They called your bluff!!!
Sorry, but this is the fault of republicans entirely. We had revenue to pay our bills, till they bankrupted us by giving moronic tax breaks for millionaires for 11 years straight (gee, a lot of good that's done for our economy, eh?), not to mention blocking good reform legislation to the point where now 50% of all corporations pay no taxes at all. I wont even get into them destroying Glass-Steagall (wouldn't have had the mortgage meltdown if they didn't destroy this act), crippling corporate & environmental oversight, creating 2 extremely expensive wars (1 with the wrong Country), and so on and so on.
Everything they do is to cripple our Government & nation and drive it into bankruptcy. But that's what you get for being idiots and voting in anti-Government people to Government.....sorta like voting a fox to watch over the hen house.
You been smoking dope with Barry O tonight ? You are sounding just as irrational as he is.
One question, simple answer. Why the hell didn't the Democrats kill the Bush Tax Cuts when they had a supermajority? Huh? Crickets...crickets.....
Republicans threatened to cut unemployment insurance
if Bush taxes didnt stay in place.
They only care about the rich, not the unemployed.
The shear ignorance, misinformation, and utter disregard for the truth by ObamaBots and liberals in this comment section is absolutely unbelievable. We truly have returned to the Carter years, where real facts are ignored and reactionary imbeciles who refuse to admit failure is beyond the pail. A first grader could look at the situation and realize what is wrong, but it seems if you support Obama, it doesn't matter, you must prevail at all costs. Incredible.
The shear ignorance, misinformation, and utter disregard for the truth by Repubs in this comment section is absolutely unbelievable. We truly have returned to the neanderthal years, where real facts are ignored and reactionary imbeciles who refuse to admit failure is beyond the pail. A first grader could look at the situation and realize what is wrong, but it seems if you support GOP it doesn't matter, you must prevail at all costs. Incredible.
Works both ways, doesnt it.
For all the people that just want to call names, I am not wasting my time with you, you chose to be what you are. For anyone who bothered to read the stories about why our credit rating was downgraded they all made it clear that it is our inability to get our SPENDING under control that led to the loss of our AAA rating. I haven't read one quote from someone associated with Standard and Poors that said anything about our inability to raise taxes. Raising taxes only leads to more spending, it will not be used to pay down one penny of our debt.
How about closing that Tax loophole where the Rich in this country dont pay a dime in taxes but people like you and me pay thru the nose?
Oh, you mean like General Electric, who paid no taxes last year but made billions? The same company whose CEO is a HUGE Obama donor and is now an advisor on his economic team? The SAME company who announced last week they are closing one of their divisions here in the U.S. and sending it to China? I'm sure that's who you are talking about.
Despite all the meddling that the Tea Party organizations like Freedomworks and such, I wonder why all these people that are fed up with the Tea Party come together and make a political force to counter the Tea Party/Faux News people? It has become a country where only the loudest people are heard. Usually, those people are backed by Billionaires though
.....If Obama and Libs ..continue to Bad Mouth S&P..America may Very Well get Down Graded Again...Moodys and Fitch may Downgrade in Support of S&P...The Chicago thugs are on the World Stage now...way out of their league...the Big Boys Won't Tolerate Chicago Street Punks...
They are all a bunch of street thugs Teddy – all of the politicians on both sides. This debate made that very clear.
Apparently, we owe a few trillion to foreign countries, but most of that debt is our own. Let's just belly up to the bar, cut some losses, sell off some stuff, pay off our debts, and never let this happen again. I am sure we can muster that. We may have to tighten belts for awhile, but it can all work out fine. Instead of 830 credit we have a 750 rating. What is the big deal? It is still a good rating, mainly we have to get serious about ending our spending spree in Washington and in our own personal lives, and take care of business. How to get there may be another story!
Actually it was Harry Reid who downgraded us. The Republican house has legislation that would have avoided the downgrade, it was called Cut, Cap, and Balance, but Mr. Reid refused to listen or have any part of it. So, if you want to place blame on anyone it would have to be Reid, and of course Obama since he could have put pressure on Reid to accept the bill. So, in conclusion, it was the democrats that got us downgraded and will cost the U.S. taxpayer billions of dollars they simply don't have.
There are Americans who cursed President Bush when he was in office, and there are Americans that have cursed President Obama ever since he was elected. When you curse your President, you curse your country and we're starting to reap what we've sown in this country.
If our Congress behaved this way in the public sector they would all be out of jobs. Take a look at what the President of Brazil has done and how their country is doing. The stimulated the economy by leveling the playing field. By giving those who have less tax money back. That increased spending which fueled the economy. Our current congress will not even consider stoping the tax incentives for big oil. They will not even consider raising taxes for the rich. They should be ashamed of their performance, or actually lack thereof. And yes they are on VACATION AGAIN. Step down and allow those who can do the job to fill in. Or stop taking VACATIONS and actually do the job you were elected to do.
teabaggers in the house were hired to do the dirty deed for the mega rich and huge business who have had a free ride, thanks to bush, continue to syphon $$$ out of our country, refuse to hire and are ruled by greed. greed. tax the heck out of these folks if they are using our country as their office and refusing to use us as their staff. tax big time or kick them out.
Vote ALL the bums out!!! Every single last one of the scurvy dogs.
"Marxist policies got us where we are."..................................................
Which Marxist policy are you talking about?
Good question because it sounds like some commenters out here just learned the word Marxist and are having their fun taking the word out for a drive. They obviously wouldn't know Marxism if it bit them in the face. What's scary about this country is the obsession with scapegoating. It's got to be someone else fault, we need enemies and if we've gotten to bored by the Islamists then let's see who can be the next cause for all our problems. Soon it will all be blamed on China, they shouldn't be lending us all that money.
The problem of most Republicans: They think the rest of the world is wrong.
VOTE OUT ALL POLITICIANS< THEY SUCK !
One more thing, the US needs to bring back the jobs that it has lost to overseas. We sent all the jobs to China and India just so we could have cheap electronics but then again if we have no jobs how can we afford them??? Does not take a genius to figure out that it is time to make the corporations have a responsibility to the people instead of just being parasitic.
1)
Really the issues are the haves and have nots..the difference is growing ever wider. The greedy rich do not want to help support the country and want it all to come off the backs of the average man who actually works. These divisions are polarizing the nation and the rich need to pull their heads in before they start getting lopped off as happened in the French Revolution.
Fareed, you do our nation, and the world a great disservice by wasting your podium and contributing to the deceipt.
When our nation finally comprehends the truth, no thanks to you, it will do what it needs to get things right. Hopefully we can make it to the next election.
None of your points matter concerned with Unfunded liabilities of > $120T and the need to educate the country on the true scope of this problem.
Worse, your points continue distracting from and avoiding the TRUTH.
"Is that how a democracy should function?" One that's been deceived for decades? Yes. Exactly.
And thanks for your contribution.
He is talking about people being mature and working together rather than fighting like a bunch of selfish children. Obviously you are still in the sand box. Lay off him, he is trying to get the country to take a stand and wake up.
Samba: Anyone who chooses to ignore truth that dwarfs their position is either deceived or a deceiver.
He's "trying to get the country to take a stand and wake up"? Really? Every point he makes is fatally flawed. For e.g. take a look at his last paragraph. He's oh so concerned about a 1% rise in interest rates, that he pretends we weren't already on that course with our debt, debt to GDP ratio > 100% and going up 10% a year due to deficits > $1 trillion, 58% of our current public debt maturing in $120T in unfunded liabilities.
Waking up is a great idea. Maturity is finding out the truth, and dealing constructively with the facts.
Please help.
Fareed, Thanks for the good work your doing. You make me proud to be an American. You are more American than most of the critics out here because you chose to be one. Most of your critics (and haters) did nothing to be American except be born here and repeat tired cliches. You are one of the few reasons to even bother watching television today. Don't let the bigots and name-callers get you down. Your light years in front of them.
With all due respect, Joel...you are an imbecile. And your grammar leaves a lot to be desired.
Haiku: What about the grammar of Gregg Prentice or do you just cherry pick all of your complaints..? You make no point..Fareed Zakaria is the smartest man CNN has..and I'll go with his well informed opinion over your Fox News-inspired baseless, mindless arguments any day.
NovaScotian: You'll go with Fareed's "well informed opinion" even when he ignores facts that tsunami his position? How do you ignore $120T in present value unfunded liabilities without being "baseless, mindless"? (And those numbers are not from Fox, they're from the GAO).
The Tea Party is a brain cancer growing in the central nervous system og the USA. They've done nothing but obstruct government policy at every turn, no matter what. Why? Because they can't stand Obama. It's mindboggling for a European who actually like the States, to see the country's political system self-destruct like this. The situation you are in now was caused by spending trillions upon trillions on useless war in Iraq and tax cuts for the wealthy. What you need to do is actually very simple. Increase taxes and reduce spending. But that won't happen because the Republicans with their base in the super rich, will never accept any increases in tax. At best they'll agree to cutting some spending, but that won't be enough...
I'm afraid that if you, the average US citizen and your politicians don't wake up ASAP, your great country is going down the drains....
4)
Add this to the amount of corruption in business and government where narcissists thrive on power, money and control and they have no qualms of taking more from the pot than everyone else and living like gods and well...you have the makings of a very sad spiral downward.
The whole world needs to start planning for the future by learning how to live within the constraints of our petri dish. We need to stop believing in infinite growth and start living in a steady state economy and we need to develop renewable energy and sustainable practices or we will be living in caves again in the next 300 years or less. No, this is not crackpot nor conspiracy, this is real. If you do not believe me then please read some academic thesis on the subject, ones from scientists and not economists because tend not to know nor care about physical limits.
3)
This is totally contrary to the laws of physics and nature and it is impossible. Show me a man that believes in infinite growth and I will show you an idiot, most likely an economist who has no ideas about the laws of thermodynamics and the limitations of the physical world. We are like bacteria on a petri dish... we continue to double our population and consume all that which we have on our little petri dish until we have consumed half of our resources and then we grow and consume more and those resources dwindle ever faster until the point when we can no longer exist.
Republicans have almost destroyed democracy since President Obama took office, and we didn't have much democracy to lose after corporate lobbyists get through with it. In addition to abusing the filibuster in the Senate to give the minority party control of major legislation and appointments and thus requiring a "super=majority" of 60 to pass anything, they used the debt ceiling to blackmail the presiident and Democrats and extort budget cuts that had nothing to do with the debt ceiling and tie up the government for weeks at a time of urgent need for action on the economy. They have, in effect, destroyed majority rule. A majority of American voters elected a Democratic president and a majority of Democrats in the Senate, but Republicans are ruling by their tactics. So why should we even vote now?
S & P Just did the downgrade so they can manipulate the stock. Sell off, announce a downgrade rating, watch it drop low, buy it back, and make a killing on the stock when it comes back up. Its the same old rich boy ploy that Washington is blind to. Let the rich run the country at the expense of the peasants 401K's. Better get smart people and protect yourself financially ! Or stay stupid, and suffer the financial ruin of not paying attention to your own retirement account.
Zakaria is absolutely right. The political system has become a sham. Both republicans and Democrats have nothing to contribute anymore to the nation whcih has become a second priority to their respective parties. The previous few months saw the republicans introducing bill after bill which really were very partisan and had no chance of passing the democrate controlled senate, whcih really did not make any sense at all. Why waste time on a dead horse? Valuable time was wasted on posturing and petty politics when the country and its people were waiting with baited breath as their savings and money remained in limbo. I cannot believe the selfishness of these "leaders". This is a democracy and in a democracy compromise is the way to go. This is not Syria or Yemen where one party can call the shots. I just hope our leaders will wake up and start loving their country again over their party.
Our highly incompetent politicians are lucky they aren't working for a corporation, because they would have all already been FIRED !!! INCOMPETENT IMBECILES !!!!!!!!!!!!!!!!!
Our highly incompetent politicians are lucky they aren't working for a corporation, because they would have all already been FIRED !!! INCOMPETENT IMBECILES !!!!!!!!!!!!!!!!!
No, they would get a bonus and a pat on the back.
I worked for Eastman Kodak for 17 years.
When we all did good, we all got a bonus.
When we did bad, management got bonus, workers got nothing.
Will Obama ever take responsibility... for anything? The administration's "blame game" is old and worn. Obama is the President of the United states of America but to listen to him you would think he has no power or influence. I think the President is probably a decent man, but he has not been able to lead this nation. We need a leader with an optimistic vision for the future of this nation who can focus the energies and resources of its people to make it happen.
Obama has been a real disappointment too but I think he's sneaky – and he's going to use this as material for his next campaign. I think they'll all blame each other at this next election. It's going to be nasty.
I have read a good number of responses and it is no wonder we are in the situation we are in. Most responses are to lay blame on the other side as if we were two counties at war. Very few offer any reasonable idea or opinion on what the solution may look like. Most responses are usually accompanied by an insult / name calling or by belittling of others opinions. This climate is the direct result of a form of government that everyday resembles less and less the leaders of the industrial world. A Senator or a Representative has become a career or an appointment by a very powerful interest as opposed to a calling to serve the nation and the good of the many.
I'm not sure what the solution is, but we may want to start by putting term limits on these clowns in Congress (Democrats and Republicans alike) and with that an effective end to the never-ending campaign so that actual, progressive and meaningful legislation can be passed for the good of the many.
I agree with your statement that these politicians are more focussed on what looks good for their careers. They are not interested in serving the people. The people are collaterial damage.
Excellent post
It is not so easy to be critical of one's own country because we have national pride – but as an outsider looking in at the way tcongress and the political parties are operating, the reality is a stubborn gridlock with little attempt tocompromise. It seems like a lot of political posturing for their 2012 election – by both parties who all want to get ahead. The American people are not a big consideration to these politicians – they are only interested in their careers. They'll even switch parties if it is better for their careers.
Yah, this would have played out very differently if the Republicans and embraced Simpson-Bowles, skipped the debt ceiling hostage situation, and ended up with comprehensive plan to a very good first pass at solving the problem.
Had Simpson-Bowles been adopted, our credit rating would be intact.
The dollar is based upon trust, trust that you will pay your debts. Capitalism, the economy, is based upon trust in the dollar, which is based upon paying your debts. The antics of the repubicans/tea party have proven that they cannot be trusted with the dollar, economy, capitalism. What they have done will cost the US taxpayer trillions upon trillions of dollars. They have violated an almost sacred trust, for the US to threaten not to pay it's debts is a sacrilege that really cannot be forgiven. It's the ultimate in irresponsiblitiy. They have demostrated that they cannot be trusted with the reins of government, they cannot govern responsibly. They cannot even responsibly hold a minority position in government. They cannot be trusted with the lower Chamber of Congress. The only solution is that republicans must be voted out of Office, not just down to a minority position, but all must be voted out of Government, if we are to have an economy, a government. The very idea that you are opposed to government, and want to serve in government, to govern, is ludicrous. Like working for a company, and you tell your boss that the 1st thing you want to do is to destroy this place. Alot of that stuff is just jingles, not serious economic policy, or economics, good enough for campaigns but not good enough for governing a multi-trillion dollar economy, with huge risks, even when you do your level best, and you really know your stuff. One of the most ludicrous things that they say is they want no risk in capitalism, if there was no risk, that would not be capitalism, that would be socialism, socialism for the rich. Taking all the risk out of things for them. Capitialism is based upon risk, you risk what you got, if you win, work hard, you could come out a winner, or not.
Government should live within its means. Yes, it should. But no average American citizen does. How else could we buy a home, a new car, send kids to college, take a vacation, pay major medical and dental bills, save for retirement, on the median worker's paycheck? America runs on credit. If consumers had to save up for everything before they bought anything, this consumer economy would collapse. Then what?
and the bickering just continues....
what kind of a country are we anyway?
One of our political parties believes in the workings of democracy. Unfortunately the other one beleives in filibuster, phoney debt ceiling obstructions, silly impeachment charges, refusing to confirm nominations.
It's fashionable and cowardly to blame both. But democracy exists to empower those who are less powoerful. The GOP exists to serve the more powerful. they have no use for democracy.
If I were king.
Mandate a 10% across the board spending cuts; besides Social Security. It is easy – later we can dig deeper into each program – have America decide, not lobbyists.
I would reduce the Military by 50% and increase education by 25%. Increase NASA by 25%. I want a space ladder.
I would have government pay for the 90% of common medical and prescription drugs, no more. Each year American can vote what is common with a cost max. The last 10% can be covered by personal gap insurance.
Mandate higher taxes for all to reduce the debit for my children and grand children future. Image the world they will live in if we don’t start now, but only if spending is cut.
Make banking free. 2% over prime.
Flat tax, no loop holes – its easy, has to be better than 40,000 pages of tax laws.
Cap lawsuits and punish lawyers who submit bogus suits.
Make the punishment of white collar crime equal to murdering someone. You lose all assets.
Publicly stone all programmers who write viruses and send spam.
End all aid – Start over – Require each American to vote for their top 10 Aid programs during tax time; Comes out of their taxable income of 1%. It’s not free.
Imports – tax any imported product based solely on labor – the US can’t compete on labor alone – we don’t want to; we need a middle class to have good paying jobs. Want to import something into this country, it has to be something we don’t make or something we do make, as long as the different just isn’t labor cost. Sweat shops would go away.
No more wars – I know there are bad people in the world; let the world decide who they are and just shot them, they will evidently get the message that being a greedy tyrant doesn’t pay. Create an space laser to handle this.
All public offering companies and their officers have to hang on to their stock for 5-10 years. No short term numbers. No short selling. A person is required to hang onto a stock for a month. That will end day trading and from computers moving money around to make fractions on the dollar. All wall street job are fixed salary – equal to a teachers or policeman. Want to make a better living – start your own dam businesses and stop milking mine.
Term limits for congress.
All bills/laws are for one purpose only. No piggy backing.
that was fun.
John
I watched the whole fiasco on tv. If you have any smarts about you, their is no way you can blame President Obama and the democrats for this. The only thing I blame them for, and I understand way, is that they were to compromising. When your country is about to go in default, I understand.
So when you wake up Monday morning and you notice that your 401 is 5% less and dropping, you should be thinking republicans and tea party.
Thanks tea party for making this such a great place to live. Oh yea, you wanted to reduce all this stuff so your grand children will have no debt. On the other hand, mom and pop are worried about their social security and medicare, their children can't afford to go to college or if they have, they can't find a job because u have made employers so jittery that they will not hire now. Other countries around the world think we are incompetent in running our own government in a fair and compromising way.
When i watched the news today, I noticed the chairwoman for the tea party saying this is not our fault, this is Obamas fault, he will be the first President in history to have his country downgraded. Just another insane incompetent statement from the tea party and their republican counterparts. Remember chairwomen, I watched you on tv at your rally telling all your followers in congress to stand firm, don't compromise.
Hey Fareed, our system is not necessarily broken. Stop trying to scare everyone.
We just happen to have a really inept president who has no leadership whatsoever.
The Congress was dysfunctional from the beginning of Obama's presidency. Back then, Democrats had control of both houses of Congress (and the presidency). They could have done big things. But they got nothing done, because they were always bickering with one another. Voters got really fed up with them, so they really punished them in the last election. The Democrats lost control of the House to the Republicans, and the Tea Party won big.
(Think about it. The Tea Party didn't even exist in the beginning of Obama's presidency. They came into being partly because the Democrat-controlled Congress was so frustratingly ineffective.)
Anyhow, that's how we got the divided Congress. Unfortunately, Congress became even more dysfunctional.
But with a half-decent leader in the White House, the debt ceiling crisis would not have dragged on anywhere near as long as it did. (Obama was just weak, and he took a back seat on the whole issue.)
So, our political system is not broken. We're just in a "soft patch", that's all.
How dare you try to bring logic to this forum.
Justin,
The Tea Party came into existence not because of Democrats' inability to get things done, but as a response to over-reaching, over-taxing, and over-spending government. The true thing that cemented the tea party movement together was when Obama, Reid, and Pelosi IGNORED the majority of Americans and pushed through Obamacare. Tea party'ers didn't fear Obama's inability, but his determination to transform America gave them cause for concern. And now, we are sitting on the precipice of it. All the massive debt that has accrued since Obama took office? Conservatives were objecting to that even before Obama was president. I don't want to go on and on about it, but you sound like you don't really understand what all the fuss was really about. And you wanna know WHY Obama really didn't get much done when he was in the supermajority? It's all political. If the Democrats had passed immigration reform, or something else, they would ALONE be responsible for it. They couldn't blame the Republicans. Whether you like it or not, we have a president who will sit on the sidelines until he feels safe addressing an issue. It's all about re-election, sweetheart. Make no mistake about it. Anyway, keep thinking critically.
zakaria+media= part of the problem.
As Zakarias admits for all of their crying the Democrats gave up less than 1% of the federal budget. And oh how they cried. Like it was the second apocalypse. And all of the promises for future cuts are just smoke. Promises to reduce the increase by less than hoped for. Bottom line is Obama increased federal spending by $1 trillion per year. And wants to make it stick. Per google – historical federal receipts – Big Government – A boat big enough to hold all the Democrats.
The only good thing the tea party has brought about is helping us identify exactly how detrimental it is to have such a polarizing, hardheaded, stubborn group of individuals in congress. It's too bad we have to go through all of this BS..
Fareed doesn't have it down right. It's not polarization, it's everyone wants the debt to be solved on the other guys back. Our tax increase proposal was a good example of the problem. It was constantly touted as the majority wanted to raise revenue with tax increases but that was only because most people felt the taxes wouldn't effect them. Show me a poll that shows the majority want taxes to be raised on everyone, and that will mean something.
When you start talking about NOT paying your bills, credit agencies are going to act!!
The Tea Party was doing just that!
Everyone agreed the debt could easily have been paid off. It was just other things that would have had to have been cut.
I am really disappointed in these comments from others, I see a whole swag of talking points aka mindless lines that others have said with very little critical thinking going on. I enjoy reading Fareed immensely and the points he makes are quite solid.
The problem is American Democracy is broken because of the politicians in there. A democracy only works when people are willing to compromise and unyielding ideologues have come into power that refuse to do so. Uncompromising ideologues only work in dictatorships or fascist regimes, they have no place in a democracy. The lack of ordinary people involving themselves in the democratic process has yielding to those who will involve themselves – extremists – and now the US will pay the price. As a foreigner I enjoy watching US politics because hypocrisy, self interest, detached from reality and sometimes just plain bad are words that accurately describe US politics.
US politicians should become more amenable to compromise and working together but honestly, that's not going to happen and the political will to make it happen is not there. What I expect we will see is a broken government, year after year failing to act on matters of importance and we will watch the gradual slide of the US in terms of power and influence, unable to even take care of itself while every politician going there proclaiming that they will change government ends up being part of the same broken system.
thnks martin you are mostly right, but overly critical from your perspective.
Fareed,
Your bias is evident from your comments. You referred to the Republicans' sticking to principles "bullying". And you seem upset that the "minority" can stop the momentum of the "majority". I know what you mean by that, but majority rule is one reason our founders adopted a representative republic. And you are squawking about the filibuster, yet no one made a peep when Democrats kept blocking Bush's appointees from being confirmed. AND, you complain about this new "deal" not even making a dent. What do you think the "cut, cap, and balance" bill was all about? it would have eliminated the debt within 8 years, by some estimates. Maybe you were too busy attacking those tea party folks as "radical" fringe wierdos (my words, not yours).
It's simple: if someone does something you agree with, you label them as "finally, someone sensible. An adult in the room".(my words again, but I can read your mind) Yet, if they have a different world view than you, you use terms much less flattering. I'm gonna use a metaphor, but before I do, the Boehner-Obama-McConnel-Reid did nothing to reduce the problem of spending that our government has. A balanced-budget amendment would have held the Federal government accountable to fiscal responsibility, REGARDLESS OF PARTY. But because it came from conservatives, you all balk at it. That's a shame. OK, here's my metaphor: Barack Obama is the teenage son, who has driven the sports car his parents gave him until it ran out of gas. In the meantime, he spent his gas money on movies, popcorn, etc.. Now, he's insisting he needs to get a higher allowance. Oh, forget it, you're not gonna listen anyway.
Jester,
Do not listen to Fareed Zakaria's comments. He has been off so many times and you find stupid opinions like his only on CNN... To understand his comments one needs to understand his background.
I don't blame Obama, nor Bush. I don't blame the Democrats, or the Republicans. I do blame CNN, and MSNBC for giving voice to the outliers of society - to the left-wing and right-wing nutbags.
The modern media loves a crisis and managed to blow this one into a world-wide panic. They did that by making sure that marginally important voices from extremists were given as much air time as centralist.
Quit blaming the American people and take a good long look at yourself Mr & Mrs Media. You are the TRUE scourge of the modern age.
If you lose money in the stock market because of the
political non-economic downgrade of US government debt by S&P, do you
have the right to take it out on the S&P company?
What do you think?
I think this posts sets a new lower bar on intelligence in this forum.
A retrograde step ... it seems sanity is getting downgraded. Time for all, specially Tea party to think & act in greater interest of country.
The reason that the U.S was downgraded was because of the massive debt that is in place now and will explode in the next few years. Our debt is due to the pyramid systems set up to fund Social Security, Medicare, and Medicaid that are inherently unstable.
Well, no. The debt, present and future, isn't much of a problem; it stands at roughly equal to one year's GDP. Compare with the average new homebuyer, whose mortgage typically runs between three to five times their annual earnings. And there's plenty of room to both cut spending and to raise – or even simply restructure – taxes. The real problem is Congress' utter inability to put rigid ideology aside and compromise. The S&P report is extremely clear about this: it isn't the debt, it's the lack of any sort of realistic plan to deal with it that has caused this problem.
Six, you are living in a dreamworld. There are, at least, over $60 trillion in unfunded liabilities due to SS, Medicare, and Medicaid. The single biggest problem is Medicare that will become insolvent within the next few years.
When you wake up Monday morning America will still be the strongest economy in the world despite what the stock markets and foreign exchanges reflect. The United States has always been able to pay off its debts because it is in the unique position unlike any other nation that it can print money at will and the rest of the world must follow. This is something that China, Russia, Brazil, emerging economic powers, and left-wing individuals utterly despise. The S & P downgrade is part of a systematic approach to trick us into throwing in the towel on everything that this country has stood for mainly freedom, justice, and liberty. Don't be fooled America, yes we have some inept leaders in Washington right now but our country is overflowing with intellectual capital and this my friends no one can downgrade not even ourselves.
Given all the carping and finger pointing here about refusal to raise taxes and efforts to cut them, it's a little odd that no one has commented on the Obama Administration's efforts last week to pass a cut in withholding taxes, including Social Security, that would affect not only employees but businesses as well. At a cost of roughly $200 billion per year added to the deficit.
Actions like this, that fly in the face of reason and reality, are exactly why S&P issued a downgrade. Politicians aren't just floundering – they're utterly clueless.
This report is full of lies. No wonder you libtards are so against the GOP.
I am worn out and tired listening to people debate SSI as a form of welfare for the elderly...
The money was paid in ,by these people for years.. Which was put into a fund, which was to grow. And at one point it was holding such a surplus, that politicians decided they could "borrow" from it.and use it for other things..
It was never paid back.. Even so, it is solvent until 2037.. It has been paid into by these people to cover them..
It was set up as and is still an insurance program.. It is not welfare.. Or in any way like welfare..
BUT..
Now that the boomers are hitting retirement.. And there is debt and the tax breaks for the wealthy have left the United States looking at cuts to other things, things younger people want and need. And trying to fix without revenue.. Worried about their own future retirement on SSI..~!
It's "OK" to take from these pepple again~!
You don't rob other people to fix your problems..~!
You do what the baby boomers did. You get out there and you work hard and you fix this situation that happening today.. In the way it needs to be fixed to solve 'your' problems..
You end those bush era tax breaks, you help solve this job crisis, and you pay into SSI for your own future retirement..
You don't take from those that kept things working when they were running things..
You fix your own NOW and you fix your own future.. You don't take from others to do it.
pretty well said Mary. ya I almost forgot Ive been paying in money all these years. but i will tell you what, I dont expect anything, I just want our country to get straight on its feet. What happened to us? Where is all this hate from? Please Congress, do what you were sworn to do.
Thank you Mr. Zakaria. I don't always agree with you, but I do welcome the fact that you discuss issues, and not ideologies.
come on congress, get back on point. come on senators, forget the blame game. come on, lets get this right ok. whats with you guys/girls anyway? what is really the matter in congress? There is so much work to do. come on congress, get our house in order. first thing is stop hating. this whole mess is going to compound if we dont get it right now. Please start working together, Try reaching out instead of throwing stones. Where is the maturity? What happend to our leaders setting good examples? Civic behaviour. Im ashamed of all of you.
Nothing worse than a nation divided.
After beginning with a Clinton-era surplus in 2001, the Bush administration ran up
deficits of $158 billion in 2002; $378 billion in 2003; and $413 billion in 2004.
Then, with revenues pouring in, the deficits began to fall: $318 billion in 2005;
$248 billion in 2006; and $161 billion in 2007. That 2007 deficit, with the tax cuts
in effect, was one-tenth of today’s $1.6 trillion deficit. Deficits went up in 2008
with the beginning of the economic downturn — and, not coincidentally, with the
first full year of a Democratic House and Senate. – Byron York
People complain about Bush’s spending, but if we could get back to the Bush-era
spending and deficits now, it would look like a triumph of fiscal responsibility —
and Democrats would complain of “austerity.” – Glenn Reynolds
Here's some ACTUAL facts;
The day the democrats took
over was not January 22nd 2009 it was actually January 3rd 2007 the day the Democrats took over the House of Representatives and the Senate, the start of the 110th Congress. The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995. For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault", think about this: January 3rd, 2007 was the day the Democrats took over the Senate and the Congress: At the time: The DOW Jones closed at 12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6% George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!
Remember the day... January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee. The economic meltdown that happened 15 months later was in what part of the economy? BANKING AND FINANCIAL SERVICES!!! THANK YOU DEMOCRATS for taking us from 13,000 DOW, 3.5 GDP and 4.6% Unemployment... to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOS! (BTW: Bush asked Congress 17 TIMES to stop Fannie & Freddie – starting in 2001 because it was financially risky for the US economy). And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac???? OBAMA And who fought against reform of Fannie and Freddie??? OBAMA and the Democratic Congress So when someone
tries to blame Bush... REMEMBER JANUARY 3rd, 2007.... THE DAY THE DEMOCRATS TOOK OVER!" Bush may have been in the car but the Democrats were in charge of the gas pedal and steering wheel they were driving. Set the record straight on Bush! "It's not that liberals aren't smart, it's just that so much of what they know isn't so" -Ronald Reagan
You mean, "Nancy Pelosi and the Party To End Earmarks And Usher In Fiscal Responsibility 2007"?
Everybody finds it easy to blame everybody else,and every President other than the one they voted for. But part of the answer is waiting for you in your mirror. The other part of the reason is still out there trying to blow up the world.
The Presidents didn't ask for New York to get attacked,but it did and the cost of defending ourselves has been enormous.The image in your mirror has fought tax increases for years and years now.We wanted a free ride through life.Well enjoy the ride!
I wonder if the continued "who is at fault" arguing among the public is a product of Congress' action or vice versa. Regardless, this circular firing squad mentality will do nothing to solve this or any other problem. As I heard a commentator state recently, "we don't have a financial problem as much as we have a political problem with financial consequences."
Totally FALSE to say tax revenues EVER rose as a result of a tax cut. The felonious Bush 2 cuts to his contributors COINCIDED with major pump-priming by the Fed under political hack Greenspan (who endorsed the cuts) when he lowered interest rates, made money free, and encouraged wild and inflated mortgage lending. That resulted in an inflated, over heated real estate asset bubble based not on value but on phony asset valuation. We are now still deeply into the housing depression caused when Greenspan and Bush did the phony pump priming.
@George Sr...... Can you please post daily and often. Someone with obvious economics sense needs to false check these facts readily thrown out there by those who know how to run the numbers just to prove their point. Thank you for your input....Keep it coming!
And this from Fareed, who advocates more stimulus spending. This article is okay, as long as Zakaria puts himself on the blame list as well. But he didn't. He remains the aloof globalist when its convenient. Come on Fareed, a little intellectual honestly.
This economic crisis has may causes. The nearly complete failure of our government to function is only one of them. The recent debacle in Washington was caused by the GOP and the Tea Party using the debt ceiling legislation to advance their ideology with the objective of unseating the President in the 2012 Presidential elections. They may have succeeded. The problem with this approach is the cost. So far the US stock markets have lost nearly $2 trillion and the US government has lost its triple A bond rating from the S&P. The world equities markets are reacting to this "self inflicted" damage to our economy and more is on its way. The perception of the US around the world reflects a huge lost of confidence which in turn affects the value of our currency, investment and capital markets. The GOP/Tea Party provided the stimulus for this economic disaster whether they intended to or not.
Blow it out your Hitobitoi. Saying no to letting a run-a-way government spend our kids in to poverty is the only sane thing that has happened yet. CUT CUT CUT CUT that is how it needs to be done.
OBAMA is a joke and if you voted for him you are too.
Republicans and Democrates both held out to the last minute trying to gain political points instead of watching out for the good of the nation. They should have reached a reasonable compromise in a reasonable time, then fought it out politically in the next election. This is incredibly BAD for our nation. Both parties are willing to let the country go down the tubes if it will make the other party look bad. Unless we stop all the political bickering, we are in serious trouble.
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Absolutely correct. We shot ourselves in the foot. I wonder if the morons who trumpet the "tea party" drivel realize that those right-wing nut cases RAISED taxes on all of us (translate higher interest on our debt)?
Lets not forget that a good part of the reason we are in this mess is due to S&P giving AAA ratings to those sub prime mortgages in 2007 and 2008. Where was S&P then???
In the Republican's pocket, as it is now.This downgrade would never have been done except to undermine the current administration.
Zakaria: "We need to pare spending in areas like health care and pensions but invest in others like research and development, infrastructure and education in order to grow. In an age of budgetary limits, money needs to be spent wisely and only on projects that are effective."
In other words, cut spending on programs and services that help fellow Americans. Does anyone with half a brain in this country consider stopping this endless cycle of war? Our empire-building, foreign adventuring, and war-without-end are money pits that are straining our resources.
Get a clue, people! All empires die because of over-extension. Ours will be no different. We need to be spending our tax money in America. Not in some 3rd-world h*llhole!
The Tea Party in Congress laughed when asked if they feared a default. They don't care if they are re-elected. They don't understand economics or finance yet they held the country at hostage rather than increase taxes on the wealthy. They should be ashamed of themselves this morning.
I see this moron is still using up broadband.
Get the Tea Party out of Congress and out of our lives!!! In addition, ANY politician who signed those "stupid" pledges should be impeached for honoring a non-government oath instead of their oath of office!! There are many other ways that this issue could have been handled in a less intrusive way and changed the habits of Congress over time, not immediately which is not going to impact more Americans than ever before. IT'S TIME TO MAKE A CHANGE AND YOU ALL CAN DO IT AT THE VOTING BOOTH!!
We don't have time Coy. We've spent the inheritance and maxed out our loans. There is no more free lunch.
As usual Fareed is off the mark. Amazing anyone can make a living doing what he does.
First of all, the debt ceiling fight was a victory for democracy. Democracy is hard work, when it is done properly. People like Fareed seem to think deomocracy iw when everybody ends up think and feeling the same and when he gets his way 100%.
Second, the downgrade was a "tell me something I don't already know" moment. Yes, the US has a plethora of economic problems, but nobody is providing a comprehensive, multi-prong solution. We tried stimulus spending an that by itself did not work. if giovernment spending alone could fix the problem we would not have a $14.5 trillion debt. We tried reducing taxes under Bush and that di not create everyone back to work. So what solutions are proposed now. "well we don not cut taxes enough and we did not spend enough." Madness.
The root cause of America's problem today is that we don't know how to create sustainable wealth in the new world economy. The ggod news is, nobody else does either. By sustainable wealth I mean that a dollar spent does not result in only a dollar of debt., whether private or public. In the last 20 years, we have become much better at recyling garbage. We need to start getting better at recycling our wealth. Recycled wealth turns into more wealth, not more debt.
Fareed, get a clue, then come back and report on it.
I agree. Maybe he could take a pole and get back to us
http://www.political-humor.org/graphics/liberty-finger.jpg It's all gonna be ok. Everything is just fine. Relax. I wonder how many Senators and Congress folks have balanced personal budgets? Demublicans, or Republicrats . Take your pick. If they are talking u can bet they are lying. Support the rich. They don't need you. Just your labor. Wanna make a hell of a lot of money? Open up a prison. Great business. Only the wealthy need apply. Grass is good for your ass, and revenue too. Bye Bye!
AMERICANS, PLEASE...stop squandering the potential of one of the greatest presidents in history. He has so much potential, but so many people are so gullible and they are attacking his so hard because they are listening to racist bigots with a hardline agenda, when Obama really is just a moderate president and his policies are in step with all other Democrats to date. You're fighting against what you voted for..democratic principles, but somehow you fell into the belief that these ideals are extreme left...I mean I know the Tea Party is willing to destroy the country in order to avoid taxing the rich, just to make a name for themselves (what do they have to lose)? But are You willing to go that far to protect the bonuses of CEO of some mega corporations that by the way, have shipped your jobs overseas and got paid handsomely to do so? Are you willing to destroy your country for that? (what you have to lose is everything and its being lost right now, on baseless arguments and trumped up accusations against Obama, with perhaps the greatest potential in a president in decades)...WHERE IS YOUR HEAD AMERICA? much luv
Hard to tell if this is sarcasm or serious. If serious, at least they can't vote.
Sorry, but the Messiah's boat has alreeady sailed. Best find another one to hitch your wagon to.
NovaScotian, are you really that gullible? Do you really believe that anyone who disagrees with Obama's socialist agenda is simply racist? And that the TeaParty is all about protecting the bonus of some faceless CEO of a big company? The only potential that Obama has is bankrupting a once-prosperous nation and turning it into the Socialist States of America. Destroying the country is being done by destroying the credibility that was built by enterprising and ambitious people who took risks with *their own* money on the promise that they could make and keep *their own* money. Maggie Thatcher was right - socialism looks fine until you run out of other people's money.
CNN, Liberal Biased Media, All the Leftist Democrats,
Who came in late to Debt Ceiling talk and start scaring Old people and the market of Default? President Obama. When will you ask the the President about the obvious questions? "Why did you scare old people and the markets of default to score political points? Why are you and your surrogots blaming the Tea party who said we have enough money to pay interest on our debts, militarypay and some social safety net funds? Why are you blaming the only party who put forth a plan to reduce spending (including structural changes = balance budget amendment) on the paper up to 6T dollars. Why haven't President and his party produce Budget for last 2 years? Is this the way you run a country? When will the BUCK stops with the president? When will CNN and other media take any blame or reponsibility for over the top hysteria last 2 weeks regarding debt ceiling?
The EXACT questions could have been asked of GWB in 2000-2004. But I guess you were too busy admiring him for his sound fiscal policies, his and cheney's unfunded but profit NO QUESTIONS ASKED. -Just stratospheric deficits and near bankruptcy of our country.
The EXACT questions could have been asked of GWB in 2000-2004. But I guess you were too busy admiring him for his sound fiscal policies, his and cheney's unfunded but profitable wars, tax cuts to the rich, Rx for Medicare-AND-
BORROWING from China to pay for above expenditures. NO QUESTIONS ASKED. -Just stratospheric deficits and near bankruptcy of our country. AND you voted for him again and demean Obama??
Instead of trimming the tree Congress and the States have been cutting at the base. Get ready for the whole thing to fall.
If you lose money in the stock market do you have the right
to seek revenge against S&P ? Should you seek revenge against S&P?
See London 2011.
Enciting violence will only get you thrown in jail
Polarization is not the reason our budget is spending more than it is taking in. It is because no one wants cuts or revenue increases to happen to them. We could be a one party system and we would still be in the same mess because eventually if you are spending more than you have revenue coming in, you will eventually have to do something that hurts everyone.
Fareed Zakaria gets about as anti-American as it comes. He is a racist and nothing that the United States Gov't does is right. Why does CNN continue to employ this person? He has no niche or area of expertise. His reporting is mostly mindless babble.
I'll gladly pitch in a few bucks for a one-way ticket home.
Tell us Fareed, why did you or your parents come to America in the first place ?
So is yours.
Zakaria is right. By electing democrats and listening to them we downgraded our whole country.
Dear. Mr. President:
I am an independent voter from Pennsylvania and quite frankly disgusted about what has been going on in Washington. I blame the Congress for most of what has occurred, but I blame you for letting it happen.
I consider myself a pragmatist that can see both sides of an argument, and see you are similar. I think the offer you made for the debt ceiling impasse was fair, but you need to make your case stronger.
I have the following suggestions:
-you need to lay out to the American people in a simple manner how congress has basically shut down all legislation and confirmations. Do this via email, Sunday Morning Talk shows, and at press conferences.
-you need to get in the mix, don't be Mr. Nice Guy anymore. Blame the stock market falling on Congress and lay out what you think should be done about it. Do this with backup from respected independent economic voices.
-You need to engage moderates from both sides of the aisle who currently serve and no longer serve to push the moderate message and place the blame of the current state of Washington at the feet of the far right and left bases.
-In short, you need to be a stronger leader and be unrelenting in your message. You need to inspire the middle of this country to call their Congressman and get their voices heard. Tell them to line up at their Congressman's offices and call them as well. The message should be to replace gridlock with bi-partisan solutions or you will be replaced.
Sincerely,
A Concerned Citizen
The U.S. spent $698 Billion on defense in 2010. That is more than the next 17 countries combined total military expenditures. It is 4.7% of the U.S. GDP. This is a greater percentage than all other countries in the top twenty except Saudi Arabia (#9 on the list) Iraq (#16) and Israel (#17). The second most spent on defense was China, who spent only 16% of what the U.S. spent ($114 Billion). Whe will the U.S. realize that spending this much on the military makes us LESS secure, not more. It makes us vulnerable in so many ways. If we cut military spending to the level of China, we would save $584 Billion a year. That is 5 Trillion dollars over ten years, not including the interest saved. Can we begin to have a rational discussion about this? The main obstacle will be the companies who receive that 5 Trillion dollars. You think they will go quietly? Also, they are employers in almost every state in the union, and they have lobby power to spare.
The second issue that the U.S. must face is that we spend over 17% of our GDP on healthcare, while every other Western country spends about 12% or less. This is while the United States' "use of healthcare services" is below the median. Until we Regulate (yes, I know that some of you are making sour faces) or "Socialize" (now you are getting your guns) our healthcare AS THE REST OF CIVILIZATION HAS DONE, we will continue this slide.
The truth is a difficult thing to face, but reality has a way of making itself apparent. The U.S. is facing tough choices, and we will always have the "guns or butter" argument. The problem is that for too long, we have had both more guns and lots of very expensive butter. This is partially due to corruption, but more due to officials wanting to get re-elected. Feel free to rant as you will.
Agree with Alan 100%. It's really sad that the only thing the hawk conservatives never want to cut is military spending. If we cut everything else (education, health, infrastructure, the arts and recreation, etc.), then what the hell are we defending? To cut everthing else except military spending leaves us defending a meaningless existence. We would have nothing left to defend.
We are a country in the midst of a civil war, this time a social one. The right believes in smaller government. What does that mean exactly? Does it mean no checks and balances? No regulations to control corporate misdeeds. No taxes. No programs for the social well being of our citizens? No healthcare.? No watchdogs over Wall Street? No FDA? No EPA. The right thinks corporations will self-regulate. History has taught us corporations will get away with whatever they can until stopped. That's why unions were formed. Workers were abused and mistreated. That was only 80 years ago. Think it can't happen again? Think again! corporations run the political system. The right is fundamentalist in general and moves closer to anarchy everyday. They chip away at the separation of church and state everyday and represent an extremely dangerous form of political and social extremism!
"Civil War" Really ?
I believe you have show the truly "dangerous form of political and social extremism" in your comments.
Obama has refused to hold the Bush neo-cons accountable for their war crimes and their crimes against America. Instead, Obama has tried to appease them. I guess he's never read about Neville Chamberlain.
Appeasing a fascist does not work. Throwing a piece of meat to a wolf attracts more wolves and makes the first wolf MORE ferocious.
Republicans have no brain - only a mouth for reciting their catechism of lies. And Democrats have no spine. So the two parties function as one - the brainless Republicans giving the orders, and the craven Democrats always eager to compromise and obey.
From India. The Republican/Tea Party are responsible for Lot of Job creation in India. I truly hope the corporate backers of Tea Party succeed so many more jobs get transferred to India.
Actually, a number of Indian firms (Tata, Infosystems, etc.) are now hiring thousands of AMERICANS here in Silicon Valley. For a long time job growth was in India. Now it is in the US in the form of “insourcing.” You can be wrong, you know.
I've been hear8ing the phrase that "we're becoming more and more a country of haves and have-nots." Te real truth is that we're becoming and country of Republicans and have-nots!!
Just stop. Taxes will not bring in revenues. If you went ultra extreme and seized 100% of income for every millionaire and billionaire which I am sure a lot of you greedy hypocrites would love, you would only fund the Federal Government for 138 days. If you took it a step further and seized all capital assets, property etc, you would only fund it for 250 days. The tax the rich method is political smoke in mirrors and will not help the process. What it will do is kill small businesses and encourage outsourcing, and therefore, kill jobs. It will actually reduce revenue by taking away tax payers. This is aside from the philosophical side of the debate that a wealthy person in a higher tax state such as New York or California already pays a total tax rate (federal,state,local,capital gains, property) of about 55%. How much of their money do you really think we deserve? What is going to be enough for all of you? What we should actually do is do something about the fact that we have the highest corporate tax rate of the First World. We should make our country a much more business friendly environment, which will create jobs, and raise so much more revenue than more taxes on 10% of the country ever could.
Put a budget forward before you ask me for any more tax dollars. Otherwise F-off. How much does the government need to operate. They don't get a blank check.
I disagree with Zakaria’s characterization of our not funding education. Due to Government and student loans, we have allocated billions of dollars to American universities. The issue is not funding. The issue is: “are American students willing to take difficult science subjects?” Engineering and math are not easy. American students are unwilling or unable to study them because they take a lot of time away from video games, rock music and the mall. Unless you change the ethos of American kids, we will continue to downgrade. Funding for education has nothing to do with it.
I don't get it. He cuts down the Republican/Tea Party tactics of "inflexibility" and "bullying" but talks about how this bipartisan congress couldn't come together to do anything substantial. The problem is that BOTH sides are simply more interested in making the other guy look bad than they are in fixing the problem, possibly at their own political expense. Until that political reality changes (Hint: Not going to happen anytime soon), wouldn't one side taking a stand to do something more substantial be more beneficial than agreeing to a do-nothing plan that both sides can agree on?
What don't you get?
Someone in Washington DC please listen to this guy Fareed
Why...
Those of you who believe that the underlying problem is not the debt itself, I suggest taking a look at a study by economists Jagadeesh Gokhale and Kent Smetters who have calculated what they term the “generational imbalance” and “fiscal imbalance” of Federal spending to be in excess of $63 trillion that is primarily due to the shortfall of taxes necessary to support Social Security and Medicare with the largest shortfall coming from Medicare. That figure has increased since they first presented their study. Here is a link to their discussion followed by an update:
http://irm.wharton.upenn.edu/WP-Fiscal-Smetters.pdf
http://www.nber.org/chapters/c0066.pdf
Medicare is a basically a "pyramid scheme" like Social Security. Both are running up against the hard demographic reality that there are fewer people paying into the system. That problem has been aggravated over the years by political promises of increased benefits. Medicare's problems are also aggravated by the increasing costs of medical care.
We should just relate to Soylent Green tactics.......
Al-Qaeda and other terrorist groups must be laughing their turbans off: the S&P did what they've been hoping to do themselves all along, i.e. cripple the US economy!!!
The last President who actually did his job we impeached.
Red, Blue, Black or White if you think the solution to this mess is a color you need to give your head a shake.
We spend more then we make. We buy it instead of manufacture it. We have no one to blame but ourselves.
No, we have killed our country.
Does anyone see a Soylent Green in our future?
Would someone please tell Kevin above and others that the Bush tax cut did not increase revenues by 44% and that the Laffer curve, the supposedly scientific basis of the right wing mantra is pure bunk. The Laffer curve is laughable, yet I see it referenced over and over by Republicans as the Gospel.
I dont mind taxes – really! – I generally like the things they pay for, like our military, the EPA, the Parks Service, etc. But even I have to admit that we pay for ALOT of really STUPID things too. Social Security for alcoholism and ADD? Why does SSI support the families of inmates? Subsidies to banks and oil companies?
And we leave money on the table! Why dont we collect EPA and immigration fines? Why do foreign companies get to mine our natural resources without paying royalties? Shouldnt tax breaks be taken back if that company sends jobs overseas?
And too many times we dont get what we pay for – construction projects that take forever and have outrageous cost overruns (or over charged to begin with), unemployed that never get back to work, medicare treatment that is paid for but not received (aka FRAUD), etc.
The blame game is old, makes me nauseous- yet I'm entertained by some of these comments. The problem is we are trying to solve our problem based on old ways of thinking. We want to blame Obama for unemployment and our wonderful debt. However, our society is becoming more technologically advanced-not smarter and for that simple reason millions are out of jobs because a computer, the internet, or other devices has taken those jobs- it's just too bad. Did we also forget how millions of jobs, such as in telemarketing were lost to places like India? – another million jobs. We import most of our merchandise – another million jobs. Oh, we had some jobs in Iraq some years ago for civilians, but now we know those jobs were financed by the US to "someone's" cooperate buddies- those jobs don't exist now because that scheme broke us. So now...I guess we blame the current administration because many that helped our downfall are still in office from previous administrations and they are either ignorant, covering their behinds, or simply don't understand that we are in a different era that requires different approaches. I support my Commander in Chief – he unfortunately came in at the wrong time – when the damage is done and he gets the blame – and he has more standards to live up to simply because of who he is. I certainly hope our elected officials can get their heads on straight and actually work for us or see that they cannot operate in this new era and step down. Anyhoo, got to get back to work, so I can pay taxes to support other countries and our elected elite who have been in offices for more tha 2 yrs and have aided triumphantly to increasing our country's debt and blaming it on newcomers.
Why do we always think of medicare and social security when we want to cut. Right now, we have 600 to 800 military installations outside of the USA. No one knows how many additional no military installations we have also outside of the USA. We have around 635,000 troops stationed outside of the USA, many with families. Why do we have to have all of this? We need a BRAC commission to study this area for closures/realignment/etc. such a move would save many billions.
BUT THE QUESTION REMAINS – WHY DO WE HAVE THIS?
Not WE, its was one party that decided it was the thing to do. The GOP is not done destroying our country. They need to learn how to change things properly and not just pull the rug out from under us.
And STILL the finger pointing continues unabated, if not gathering steam. Who cares what or who got you into this mess? Morons blaming each other when they themselves are the fault. Watcha gonna do about it is the question, the only question, the empty headed american voter needs to ask.
You cannot raise revenue on non existant wealth. You want to, you really, really do! But the hard reality is that those dollar signs you mistake for wealth just represent smoke and mirrors. Gold is not appreciating so much as the dollar dropping in value against. The dollar is so recycled and stretched that taxing it is utterly futile. You need to increase the wealth base. You need to manufacture. You need to produce. You cannot and you will not. You want money to make your wealth without physical labour. Good luck with that.
Its time for the BEER party.
Going through these posts it is just incredible. I see the same divisions among us as there is in this congress. Bush this, Obama that. The republicans bla bla bla, the Democrats bla bla bla. Fact is government is broken and that affects us all unless you're that what? the top 2%? If you are not in that category you should be very worried and very furious as a Dem or Rep or whatever YOU label yourself.
I for one have lost all faith, greed has really dug its self in very well and from what I continue to see there is no changing it. It was a good run as thee leading nation for a short while.
Yes, thanks for saying it. Greed is the big dog in the pound.
Dont confuse the surplus budget left by Clinton to mean we had no debt we still had trillions in debt we just had a surplus for that year we could have applied towards that debt, But they didn't , they spent it. This debt has been growing since Ike, There is no single administration you can blame it on its a failure our Govt has to accept as a whole.
Did anyone read the S & P report beyond the introductory summary? The report shows that America's current debt to GDP ratio is better than the UK and that projected outward our debt to GDP ratio will be better than that of France. So how do we fall out of the AAA group? Oh yeah political instability. At least our people are fighting through their representatives in Congress as opposed to fighting in the street against the police in the U.K. BTW the riots in the U.K. are attributable to the new austerity programs. Will S & P downgrade the U.K. because of the riots?
Fareed and all, it baffles me how come our credit rating is down due to political infighting right NOW. Why now?? Because the Tea party idiots decided to make a stink and refused to compromise, even when Moody's and Standard and Poors sent teachers to instruct them why it is a bad idea to be so obstinate. Bad idea to link the credit bill we already ran up to the budget we need to make. We needed to assure our full faith and creditworthiness first. Then we needed to compromise on our budget items. But the merry little tea pranksters refused any reason. Finally, I think, the debt issue was left on wall streets doorstep a little too long, so they got tho thinking about how they could use this intransigence to make themselves some more money. Exactly. You have to understand the hedge fun dies had all kinds of bets but couldn't call it so they used a plunger instead of just flushing the toilet like they usually do. Hence the downgrade of our credit and market collapse. Campaign finance reform is the only area of agreement I can see us ordinary people making!
Its not that our political system is broken or has failed. Its just that our political system has gotten so far off track from what it was intended to be. And it doesn't help when the parties are a joke and you have a democratic white house who doesn't want to accept the fact that they're wrong so they makeup excuses and shut down. They need to step up and do what needs to be done for the good of the country immediately instead of trying to find a solution that is self-serving. I hate to say it but the Chinese were right about us and our debt problem.
We downgraded ourselves?? Really Fareed??? Really?? Your such an idiot!!
Fareed, democracy is not Utopia. No one is claiming that the US system of government is here to make Zakaria happy. If you do not like it, then vote. If you don't vote, then leave. If you want perfection, look in the mirror and I am sure you will always be pleased with yourself. If you want personal freedom, quite your incessant whining and pay up now.
"The Treasury Department had to handle the global financial crisis, recession, bank stress tests and automaker bailouts, as well as its usual duties, with about a dozen of its senior positions – almost its entire top management – vacant. Senate rules have been used, abused and twisted to allow constant delay and blockage." Says it all doesn't it. Republican obstructionism at it's finest !!
However we got here, here is where we are. The question is how do we clean up this mess. Hopefully, Congress will heed the call and begin working for the American people instead of themselves. The budget deficit must be solved but playing political games to differentiate individuals personally and politically just to make a statement is a dangerous gambit. Certainly government spending needs to be reduced but reduced using intelligence not as part of a knee jerk reaction, certainly the tax code needs revision, but again prudently not as part of a knee jerk reaction. What about helping the sector that started this mess to begin with? Middle Class America..homeowners comprise 60% of the populace.Most. have lost value in their biggest and maybe only asset. Middle class America is nervous about losing their jobs. How can they spend to stoke the economy? Banks are still not lending in the mortgage market as they should, Why can we not offer a program to credit worthy individuals who have less than 20% equity in their homes, to guarantee (not offer a check out of the Treasury in the form of a tax credit), the shortfall in equity (again for well qualified buyers) up to the 20% required by banks to offer traditional mortgages without exorbitant fees. The middle class in America can move into new or exisitng homes .. downsizing, upsizing or rightsizing and create jobs for carpenters, electricians, purchase capital items like refrigerators and once again create real value in the home.. the biggest asset and not create value through smoke and mirrors for Wall Street.
Just think... at this very minute, teabaggers all over the country are wandering around their trailer parks like lost little zombies, waiting for Sarah Palin to weigh in on this. " Please, give us a tweet ! Just one little tweet ! "
This country spends too much in foreign aid and on nation building. The first step is cut off all money being sent to countries who pretend to be allies but in reality hate us. Secondly, enough blood has been shed in a ridiculous attrempt to bring democracy to the arab world. There will never be true democracy in the arab world because the ultimate say on all policies belongs in the hands of the imans and shariah law. Bring the troops home, expel the foreign invaders in our southwest, and begin identifying and expelling the radical islamic elements present in this country. These 2 steps would go a long way as a start...
Requiring more than 50% majority on anything but critical legislation is a recipe for ineffective government. I believe most modern democracies do not have this requirement. In other democracies who do not have majorities a vote defeat can lead to the fall of the government and an immediate election. The consequences of other parties taking an unpopular stand on an issue can lead to major imminent defeat in the polls, ie consequences and accountability. It seems to me the US government system needs to be improved to improve accountability and effectiveness.
The tea bagger terrorists have done more damage to this country than Bin Laden ever dreamed of doing. Well done, you idiots. What I really find amusing is all the older Americans who really believed the tea party propaganda and who are now watching their retirement money disappear before their very eyes because they supported the tea party. Be careful what you ask for, seniors. You are reaping what you have sown and it ain't pretty... This is not Obama's fault, it is your fault.
Rather than name call how about telling me why Obama didn't raise the debt ceiling when the democrats had control of both the house and the senate.
I wonder about that one, too. As in the case of health care, why were the Dems so contentious among themselves?
I love how the left is angrily blaming a group (TEA Party) that didn't spend one dime and tried to cut spending. The reason we were downgraded was because of our debt. What is so hard to understand about that?
Does anyone know how we "won" the Cold War? We ran the eastern block into the ground financially. We kept upping the ante re: weapons systems and military might until they couldn't keep up any more. The poor standard of living helped to sow the seeds of unrest, and Gorbachev knew he had to thaw his country's hard line stance if they were to survive.
Fareed the all knowing believew that if you are broke and have a crack head in the family and that crack head wants $500 to buy crack, that it is "unyielding" to tell him no and more responsible to meet him half way and give him $250. Perhaps he should give up any news show work and only host an opinion piec show at this point.
Decades ago - before TV and before the end of the 60's - politics was a machine. They didn't care what ordinary people thought, and were often unfair to large segments of the population.
On the other hand, they never had to beg idiots for their votes. If you have to ask why government is broken, maybe you're part of the problem.
Boehner , Obama, Reid, McConnel, Pelosi, and the rest of you idiots. Please work together to accomplish something for the american people. its embarrassing.
How does this Zakaria guy keep a job? He sounds very intelligent, but if you read his analysis, it's bunk. I'm not sure why CNN lowers itself by keeping this hack around.
Farheed: Lord Obama has created the most polarized political scene we've seen in any of our lifetimes. He is the root cause of the downgrade, gridlock, and the further dividing of this country. You and the left can blame W or Ronald Reagan or anyone else all you want, but the past 3 years have been as bad or worse than Jimmy Carter's administration. Let's all pray that the country wakes up like it did then and ousts BHO just like Carter.
Kill all congress men
Not living in the US I can only comment on what I see and read in the media. Many of the he comments I've read here seem to be indicative of your political system. Positions are so entrenched that all that is achieved is a perpetual blame game with very little apparent effort at any bipartisan solutions. So antagonistic is your political system that it is, for all intents and purposes, irrevocably broken. Both your economy and political system needs an overhaul. Sadly those who are in a position to carry this out are clearly unwilling to relinquish the reins of power and will fiddle while the USA burns. The world needs a strong and vibrant USA led by people of vision and moral clarity. From the outside looking in it has been many, many years since that has been the case. It really does make me sad.
Politicians need to spend more time actually attempting to run the finances of the country responsibly.They act like petulant children each trying to blame the other one. If our kids acted like that they would be chastised. Not much of an example are they.? This is not Obama's problem. He is attempting to clean up the financial corruption created by the moronic Bushes. Glad I'm Canadian
If you don't like America go to another country of your choosing, just maybe all of american hater would appreciate this country, and if you must keep on hating America and still you are here, then by all means keep on complaining, it's a free country enjoy it.
I'm already in another country. It's the one north of the 49 ? Your assuming I hate America and you would be very wrong. I just dislike ignorance.
No...you stupid mron...it is the libs who are fault get it right you pos!
Only way to solve this is to stop fighting wars, stop giving out aid, reduce your welfare system by at least 50%, higher taxes...etc. No pain no gain. If you can't even save yourselves, why bother trying to save others. Bite the bullet and make a sacrifice because future generations will be better off. If you are not willing to suffer now then you will suffer much much more in time to come when USA goes into rapid decline.
You just don't get it Fareed! America is a REPUBLIC!! Not a Democracy! Period!!!!!
Fareed's propaganda notwithstanding, the Republic elected officals who bargained and compromised. The system spent too much money for decades, and this Congress and Adminstration dealt with the problem as best they could.
You all just prove the point of the author with your pathetic game of finger-pointing and endless rhetoric. Either come up with actual credible plans or shut your mouths.
We did downgrade ourselves by refusing to act and refusing to get our representatives to get this under control before it got to the level it is today. This is everyone's fault, and you are all wasting time and air trying to blame someone else instead of working together to fix it and improve upon this once-great nation.
I don't vote for one party over the other, and neither should any responsible voter, sticking to your principles doesn't put food on the table, keep the lights on, or pay the mortgage.
The best, and only real way to solve the debt we are facing starts with jobs, not spending cuts, raising taxes, or anything elsen jobs. And until the rest of america is back to work, this problem will get worse. Only then will we be able to sustain low marginal tax rates, social security, medicare, education, and all those wonderful things we come to expect from our government.
This was planned and this will only get worse in time
I am hopeful the 2012 election will cure the gridlock.
The U.S. political system is so bad we are running elections every day, and we are yanking steering wheels from the elected officials every day. Instead of letting the winners have a chance to run the country for 4 years, we are throwing road side bombs at them. If the world economy is like the Olympics, we would lose every race. While communist China may move in the right or wrong direction, we will get nowhere. Our ruling party can't take us anywhere because our losing party is opposing it every step of the way. Our losing party is willing to burn down the house in order to bring down the ruling party. That's not democracy. That's obstructionism.
What we have shown the world, is that we no longer have any common sense or judgment.
The government cannot afford to take care of those who will not take care of themselves. Those who think that government can become a welfare state, are so misguided, that no one can work with them. They are so "channeled" that they cannot see reality any more.
The Democrats have reached the point, where they no longer live, in the real world. They are beyond help, because they blame everyone else, for what they do, themselves.
They are like the mentally ill. They have their own version of reality.
The winds are shifting. The last election "we the people" elected members to congress who willl address the deficit. the next election will be pivotal. If enough new members are elected to congress whether they are tea party, democract, republicans, indpendents are elected with a goal to cut and deal with deficit we will see change. however if we continue to relect incbuments like Nancy Pelosi to congress then we get what we deserve.....
What we have is chaos because there is no direction no standards no accountability – what we do have in Washington is a wrecking crew tearing at every program just as every American is in disagreement with each other by being polarized in one direction or the other. Where is there compromise or agreement you can't have: we the people when the people are divided. Afraid that someone has it better than you the miserable seek the company of the same and when everything is lost then everyone will be equal once again. We have lost our middleground our middle class and household is pitted against household because there are the wealthy and the poor and no in between with an economy this polarized everything stops. At some point the haves can't get any more from the have nots and without a middle class there is no buffer. The wealthy are few and the poor are many too many to have a healthy economy. Life is about living and not just getting by anymore and slavery whether by ball and chain or even by debt will cause revolution. Let them eat cake and heads will roll just as history shows intolerance to being dominated by an errogant plutocracy. How can some people stand for the right to life yet have no compassion for the quality of that life. Must everything be about profit to the point that nothing is manufactured to last long enought to pay for it. Corporations sell items for profit on credit for profit some of them items needing insured for profit. The quality of food has gone down while prices have gone up for the good food some people go to work then go home to eat an unhealthy choice of foods that is cheap and this creates a health problem that costs us all. We need standards that are etched in stone from Food to Social Security from Education to income. We need income to match levels of education so that people have incentive to learn and contribute to society. Our Government pushed us into a World economy now we see how weak we are and if the Wealthy don't contribute more in taxes to get our country in order it is they who have more to lose. The Greedy, and people who stand divided have no sustainable quality of life – their greatest hope is that those arround them are also strong. Go ahead argue let liberals bash conservatives and conservatives bash liberals and as you waist your breath the world deteriorates and errodes away under your feet because you are so sure to stand your ground. People live, people die, some people are deformed, diseased or even unable to support themself and just as the beach ebbs and wanes there are vaiables to life with the wind, the rain, the cold and the heat and the passage of time the surface of the earth and the faces upon it change. During your time here what will you do with your life. Try all you want to save yourself but in the end what can really hold on to?
My question for this board is this: Have all of these impassioned arguments from both the right and the left changed one single person's mind who is writing and/or reading the forum? As I see it, it appears the answer is no, precious few. If this is the case, what then is the point of writing. You are either singing to the choir or riling those with another viewpoint. Maybe I am being to cynical in regards to this question. Can someone support a counter-thesis?
Let see the last time that the Federal Government was almost went bankrupt was when Bill Clinton was in the White House. And now we have another democrat in office and it is happening again. Hum.
Did we really need to have 200 thousand new government created by Obama?
Maybe if we stopped providing aid to other foreign countries the same countries that criticize us and burn our flags and drag us into conflicts.
We need to stop supporting Israel, the middle east, africa and all other countries and take care of business at home 1st.
Fareed Zakaria is one of the few Americans that actually get it. Some Americans think they can grow their way out of the debt, but another bubble if it could be generated, would just burst like the last one. People in Asia see America as an empire in decline, it is all over for America.
I do not trust any news source. The media is bought and paid for by those secretly in power, who engineer and manipulate events and spin outcomes and tell the talking heads and comedians what to say. They study the hypnotic effect the TV and Internet has on the voting population. Most of you simply believe comedians and talking heads as “gods” and your heads bob up and down in agreement with them because they are so convincing and sincere. We are being programmed what the think and how to vote. No one does the math. Greed is evil. Greed in Congress, making every business owner a reluctant tax-collector. (Why not pay your tax directly to the government? We can trust you to be honest in your taxes right?) Greed by the welfare recipients guarantee that those persons will vote for higher taxes and politician who will protect those interests.
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