An Absolute Farce

181
132
Sun, Nov 20, 2011 - 5:44pm

Back in August, we were all treated to some "political theater" entitled "The Great Debt Ceiling Debate of 2011". What's the old line? Oh, yah..."Fool me once, shame on you. Fool me a couple hundred times, shame on me."

Seriously, this would be comical if the stakes weren't so high. The United States of America, the world's largest debtor and provider of the world's reserve currency, is insolvent and bankrupt. Its leaders are brazenly corrupt. However, its citizenry has been dumb-downed to the point of ambivalence. Therefore, the following has been allowed to pass without so much as a whisper of complaint as if its nothing but "business as usual" in Washington.

1) The "debt ceiling law" was written in 1917 (deltabravo #1 Woodrow Wilson was POTUS) ostensibly to provide a limit to the borrowing power of the federal government.

2) For almost 100 years, every time the "ceiling" is approached, Congress simply votes to raise it. Some ceiling, huh?

3) This past August, "fiscal sanity" suddenly seemed to emerge as "tea party" republocrats were going to "hold the president's feet to the fire" and halt the growth of the national debt.

4) The "crisis" was averted when a "deal was struck" that would only raise the debt ceiling by an equivalent amount of tax hikes and spending cuts.

5) However, tax hikes and spending cuts are too scawey fo little o congwessmen to debate. So, they violate the Constitution by granting special powers to a "Super Committee", conveniently comprised of legislators from districts and states whose seats are deemed "safe" due to years of gerrymandering, fundraising and other ill-begotten political benefits.

6) The Super Committee would meet in private and be tasked with the job of finding a "grand compromise" which would include new tax hikes and spending cuts. We were assured that, if the committee could not reach an agreement by November 21, "draconian" budget cuts would immediately be implemented.

7) These supah-scawey cuts would, undoubtedly, serve as the ultimate inspiration for The Super Committee to reach their "grand compromise".

8) The budget would be saved. The U.S. fiscal house would be in order. Nirvana, peace and utopia would reign for the next thousand years.

Hmmm. Not so much.

We find out today that The Super Committee has failed..."punted", as they say. Oh, you must be wondering, I wonder whose "ox is about to be gored" by those "draconian cuts"? Ahhh....no big deal. We also find out today that there were never going to be any "draconian cuts". It was all just a ruse. There are no cuts until 2013. No tax hikes until 2013, either.

Hold on a minute. Wait just a second. If we go back to August, the only way that the debt ceiling was going to be raised was on the promise that The Super Committee would negotiate a settlement. The fact that there would be a "settlement" was ensured by the pending "draconian cuts". Now you're telling me that the committee has failed to reach an agreement and that's OK because there are no cuts or tax hikes until 2013 anyway? Nothing changes? All is well?

HUH?!?!?!?!

And there's no outrage? No one cares that the citizens of the U.S. were sold a bill of goods back in August, all in the name of political expediency? Am I the only one who is incredulous at this? Just because this is "business as usual in Washington" means that this is no big deal?

Well, I got news for you. It is a big deal! This country is doomed! Soon, the undeniable, rapidly-accelerating spiral of debt will unleash heretofore unseen myriad of financial disasters upon this planet. Your only financial protection against this apocalypse is physical precious metal. Period. Buy it now while you still can.

TF

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  181 Comments

punchbowl
Nov 20, 2011 - 5:51pm

Completely Correct Once Again

Yup blows me away too. Absolute joke.

stepman
Nov 20, 2011 - 5:52pm

Outraged

Yeah, I feel your pain. We just had the least attended elections ever. You would think all was well here in NJ. Blah, blah, blah is all you hear. Now Christie wants to borrow 8 billion to fix the roads? Time for OUR voices to be heard and not just ignored. We who may be the 1% or 5% or 50% need to stop being slapped around and demand that OUR politicians respond to OUR demands. They work for us, we are not subservient to them!

stepman
Nov 20, 2011 - 5:53pm

Outraged and ready

Double post.

BostonMatrix
Nov 20, 2011 - 6:01pm

Raise the roof

It will be interesting to see if tomorrow's media picks up on this or whether it will be heads in the sand time.

Gramp
Nov 20, 2011 - 6:02pm

Raise!

...In taxes. They are going to shove some nasty new taxation programs down our freakin' throats. The public has already been "conditioned" to accept, w/ funding threats to such high profile programs as Medicare, ect. Now, CONgress is being worked on w/ threats about Military Budget cuts... So when the "New Deal" is unveiled, everyone will have had plenty of "Koolaid" to help wash down what is certain to be a very Bitter Pill for us all.

RedRover
Nov 20, 2011 - 6:05pm
small_potatoes
Nov 20, 2011 - 6:06pm

I gave up on America and

I gave up on America and Americans getting it right years ago. All I'm interested in is taking care of my own and try to weather the storm.

silverbleve
Nov 20, 2011 - 6:07pm

Not yet

Their failure isn't official until tomorrow. Surely the news will be bullish for pm's. I think the smack down last Thursday was a prep for this. Last time debt ceiling news hit the mainstream gold went from 1600 to 1900 real quick. Jmho of course.

Dr G
Nov 20, 2011 - 6:08pm

Yep, the USA. It's a

Yep, the USA. It's a $hitfest.

Hold over
Nov 20, 2011 - 6:09pm

The decision to delay the

The decision to delay the decision was decided by two thirds decision ,decidedly

I think that statement now qualifies me for public office!!

Hold on, if you listen close, you can hear a can be kicked down the road.

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