The Super Committee! 100 Days To Save The World From Armageddon.

The super committee will likely wind up their fruitless work on Friday. Congress will spend the remaining few days until the deadline next week unwinding the deadline. "We were only kidding about the Armageddon thing. It was a joke; an attempt at humor."
They will signal their intent to do something, but the holidays are coming. "We will work hard to find a solution when we get back in January."
Right.

Un huh. It looks like they finally held a deadline, and nobody came.

Just to make it interesting, Obama should veto the legislation to undo the automatic hits after the deadline.

He should but he wont. No balls.

he also has huge legacy problems if he is responsible for destroying our military might 20 years before it was supposed to be gutted. No one is ready to replace us now, if we cant hold out for a bit longer being the global policeman there will be hell to pay economically, as the bandits will have the run of the place.

There is no way Obama stands in the way of defusing the trigger. The markets will exact their revenge of course , but this is the least bad of the horrible options that remain.

Just how long will it take to destroy the ability of the U.S. to defend itself. Screw the rest of the world. Let the french and germans and Isralies take care of themselves. I am tired of us spending our youth and money defending countries who dont want us in their country.

You lost the ability to not care about the global security situation when we went to a global economy.

Bullshit!!! we are our own people. The reason we are fighting the worlds wars is because the very rich who dont want to pay their share of taxes want the protection of the government for the wealth and jobs they have imported to other countries. What the majority of the U.S citizens get in return is nothing but a lack of jobs and a reduction in our ability to feed our families.

As the wealthiest nation, as a superpower and the leader of the free world we had a responsibility to be the global policeman. Now that we are failing this needs to go away, but the transition must be orderly.

America is run by the corporate class for the corporate class, so until we the people decide ENOUGH! most of the citizens are going to get hosed....but if you want to solve that problem you need to be looking inside of the USA, not what we do outside of our boarders. Keeping the global criminal element in check helps a great deal to get wealth created in America..the fact that most people never see any of it does not mean that it is not here, or that we should not continue to work to make sure that this wealth is created.

Usually as one gets older they gain in knowledge and are able to think rationally. You on the other hand have done the opposite. The government is owned by the rich. they control the congress and the media from which we are supposed to be informed rather than the brainwashing we get in place of the news. I dont see any change coming in the near future. Not from the Dems or the repubs. Untill it gets to the point where our 8 and 9 year old kids have to work 60 hours per week in order for the family to survive the way it was in the 1900's.

The only thing that can save the world from Obamageddon is his defeat in the 2012 election.

Time to plug yourself in for a recharge, youre starting to run down.
If you wanna defeat Obama, seems to me you need a candidate with something between their ears. All I see is Bozo and friends on the GOP side.
(Hint: Id vote for a republican if one of substance showed up, Im not too thrilled with the job Obama did. I think he wasted his capital on the health care right at the beginning of the worst economic situation weve seen in our lifetimes. UNFORTUNATELY, you cannot really think that any of the present gaggle of GOP candidates have got substance).

All I see is a formerman dreaming of cupcakes, rainbows and unicorns totally oblivious to the damage Obama and his democrats are inflicting on this country and her people.

The only reason I dont put you on ignore is because I continue to hope that someday you will post something of substance. Hope springs eternal.

Tomorrow, Monday, is effectively the end of the Super Committee. It will not be Wednesday for technical reasons. Members are doing the talk show circuit assigning blame. Repubs and Dems would be better off if they said nothing as the Super Committee dissolves. But both feel the urge to get the last word even if it means that the public's approval rating of Congress dips further from 9%.
I don't think that the financial markets will respond negatively. Expectations were already low and they have been met. (The bigger impact continues to come on European news including today's Spanish elections where there will be a change at the top.)
The draconian across the board cuts that are supposed to now take place are not going to kick in until 2013. That is, conveniently, after the election.
What would roil the markets, in my mind, is action by the Congress to undo the automatic cuts scheduled for 2013. That would indicate a continuing lack of resolve to address issues.

One person I listened to today said that one positive effect from the failure is that the Bush tax cuts to the wealthy will be allowed to expire. Anyone know if there is a basis for believing this?

If they try to extend them, then they will have to admit they aren't paying for them. I'm sure there will be a lot of hand wringing about how they need to be made permanent but unless they are paid for with other tax increases or cuts they will add more to the deficit than the mandatory cuts will lop off.

This is now a thread about things failing.



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