- Pension Problems: Liberals and Rep. Paul Ryan need to cut Medicare and Social Security soon, but workers are not saving enough to retire.
- Late Monday, Senators voted 63-35 to limit debate on a bill to fund the government through the rest of the fiscal year. A Senate vote on passage could come as early as Tuesday, and the House could take up their version as early as Thursday.
- Growth and Opportunity Project and Organizing for Action show the decline in the purpose of the Republican and Democratic Parties.
- Rebounding housing market returns Fannie Mae to profitability; hope abounds that the mortgage-finance company can pay $61.5 billion in rescue funds back to the government.
- Immigration bill expected by April.
- Obama heads to Israel for first time as President.
- Grover Norquist and ACLU teem up to call for “unreasonable search and seizure” (4th Amendment) protections for Internet and email.
- Washington Post to put up paywall.
- Google Map’s Street View goes to the “Seven Summits,” the tallest mountain peaks on each continent.
- CPAC shows conservative shift on abortion and gay marriage.
- Fill out your March Madness bracket by Thursday!
Now for a better analysis of the Cyprus problem.
"In all three, runaway banking was the source of the crisis — although not everyone seems to get this, even now. Joe Weisenthal finds the most clueless remark so far about Cyprus, and it comes, you guessed it, fromGeorge Osborne, who seems to think it has something to do with lack of fiscal discipline. Actually, as theIMF(pdf) points out,
Before the 2008 crisis, Cyprus enjoyed a long period of high growth, low unemployment, and sound public finances.
Oh well. In any case, the question is what to do now."
"Iceland got through the crisis with less damage than Ireland, for two reasons. First, it let the banks default on liabilities to overseas creditors, including deposits in offshore accounts. Second, it had the flexibility that comes from having your own currency.
The own-currency advantage helped the real adjustment of the economy; it also allowed some fairly undisruptive financial repression, because the depreciation of the krona (coupled with temporary capital controls) led to a brief burst of inflation that eroded the real value of deposits. Savers were hurt — but with banks having grown to 10 times GDP, that was going to happen one way or another."
The resident troll erects a strawman then argues against it. There is no way the US economy is comparable or analogous to Cyprus or Greece.
These financial problems were caused by unregulated banks.
The question is who is going to regulate them?
"First, They Came For The Cypriots..."
"Aside from the fact that no fiscally responsible country should need a bailout and the roots of Cyprus' financial crisis is based on long-term big-spending government and low-information voters, the bank shutdown nevertheless sets an ugly precedent rooted in the growing arrogance of EU power."
Never doubt that it could happen here. Liberals are salivating at the idea of confiscating your savings.
Well, paulie's here, with his update from the 'unreported race war' front. Whose winning your race war, paulie?
I'll sign off, but first, just for paulie, another blow against the paulie's of the world..
Westboro Baptist Church gets a rainbow-colored neighbor
"Ten years on, soldier recalls Iraq invasion"
The opinion of one who has been there is worth more than that of a 1000 liberal naysayers.
"Newtown reports surge in gun permit applications"
Americans intuitively know that defending themselves and their families is not something to be left to fuzzy minded politicians.
"And what will Sen. Chris Murphy, Connecticut Democrat, say in response? Last month, he said: MURPHY: I think we will get a vote and I think we’ll get a vote because Newtown changed everything in this country."
'“Newtown changed everything in this country.” No, not really.'
"The fact is that the “Affordable” Care Act will impose $1 trillion in new taxes on the American people. That isn’t anyone’s opinion — it’s the official conclusion of the Congressional Budget Office. The CBO’s letter to Speaker Boehner last summer verified that there is $1 trillion in new revenue in the law."
Another trillion dollars drained from America's economy to fund Barack Hussein Obama's expansion of government.
"To be clear, Iraqis are far, far better off than they were under Saddam, but the soaring rhetoric made Americans believe that “victory” looked something like Nebraska-on-the-Euphrates, with ancient enemies living in democratic harmony. That was never realistic."
Cowboy Poet Harry Reid must be hearing those voices in his head again that told him about Mitt Romney's taxes.
Cheney and Rumsfeld are just pathetic
The finest responses to Rumsfeld’s Iraq tweet Bush's Secretary of Defense wanted "appreciation" for the botched war. Twitter users gave him what he deserved
"Video: Obama 4/4 on meeting NCAA bracket deadlines, 1/5 on budgets"
"Bankrupt San Bernardino approves over $1 mln in pay hikes"
Can anyone here say Cyprus?
File this under much ado about nothing.
"NO ASSAULT WEAPONS BAN: NOT EVEN IN DEMS' BILL"
All that liberal huffing and puffing and no one's house was blown down.
"Obama immigrant release included drunk drivers"
If you are run down by an illegal immigrant drunk driver, you will know who to blame.
Lovely house. Hope Mr Jackson has many years of enjoyment there before the colors fade.
Or fear tends to drive us to make stupid decisions.
Repeated from below:
"A trillion dollars and 4000 American lives later. Was that worth it?"
@outsider2011 I was hoping for more jokes
Saddam and his degenerate sons are dead and Iraq and the world are a better place.
@paulejb Last I checked, San Bernardino didn't have a banking industry that eclipsed its GDP
Magazine Capacity caps and universal background checks still proceeding.
@paulejb Obstructionist Congress.
Gallup: Fifty-two percent of Americans believe the war was a mistake No one should've gotten maimed and/or died for a lie, "Bugs."
Gallup: Fifty-two percent of Americans believe the war was a mistake
No one should've gotten maimed and/or died for a lie, "Bugs."
A trillion dollars and 4000 American lives later. Was that worth it?
*shrugs* Never bothered to figure it out.
Just a thought: if Obama really is the worst President ever and 51% still voted for him....what does that say about the other guy?
Indeed. The Electoral Vote didn't look bad either.
I'm 4-0 and one undecided so far today against him. His success rate is rather low for someone who's never been topped.
51% of voters also thought it was a keen idea to return the worst president ever to the White House to wreak ruin for four more years.
No, America invaded and occupied Iraq because a (false) case had been made that Hussein had weapons of mass destruction and was willing to use them or let them be used against the United States.
4000 brave Americans gave their lives for a lie.
I don't really care who approved it - well I do, but it's not relevant to the current discussion. What is relevant is that whenever we sacrifice young men and women, regardless of the objective and regardless of whether that objective was achieved, we should always evaluate both before and after whether the price paid was worth it. We should always do that process and we should always ask the question for a simple, perfectly clear reason: if it wasn't worth it, if we cannot reasonably look these young men and women in the eye and say it was worth it, we should learn from our mistake and endeavor not to make it again. We owe it to them to ask the question. I don't have a problem with you saying that it was worth it in your opinion. I have a problem with you dodging the question. I have a problem with you insinuating that I dishonor their memory by asking whether they should've been put into harm's way. Whether we win or lose a war. Whether the enemy was Satan incarnate or two drunk guys in a pickup truck, we should always ask the question.
We owe it to the people who gave their lives to save and protect others to ensure they are not joined by others and to make sure that when a soldier is sacrificed, they are sacrificed for something with meaning.
4000 brave and true Americans gave their lives in a mission approved by the president and both houses of Congress. Democrats who voted to commence the war now have very convenient memories concerning their actions in 2002 and 2003.
If anything, it is a dishonor to their sacrifice to not ask that question - regardless of which answer you give.
It is hard to imagine how saying that 4000 lives was not worth the outcome is dismissing their sacrifice.
@nflfoghorn Well, he did, he just did it in the form of an ad hominem on a straw man.
@nflfoghorn Actually, scroll up two threads where he actually replies to this one.
Cyprus isn't going bankrupt due to payroll obligations but due to the fact that its banking industry eclipsed its GDP and when it went under, it drug the country with it. In other words, unfettered capitalism caused a massive imbalance that destroyed the country. The same thing happened in Ireland and Iceland and in neither of those cases was the problem an excess of salary for their employees.
Now, if you were to say Greece, you might have a case. After all, Greece had large percentages of its workforce not paying taxes, its IRS equivalent was not enforcing the tax laws, and it was not creating anything that remotely resembled an actual budget. Now, I would tend to argue that these were the real causes of Greece's problem, you could make a reasonable argument that they lead to the government over committing to their employees and therefore made it impossible to meet the obligations they had created.
We've been over this: Obama suggested it because it was a different path out of the mess that intransigent Republicans had created. His veto threat was not to prevent the Sequester from being altered but to ensure that Congress didn't back out on its obligation to commit joint suicide - they either raised funds, made better cuts to spending, or just swallowed the pill.
The sequester was a Barack Obama suggestion. He designed it, signed it and vowed to veto any attempted changes.
"WaPo and Politifact Agree Sequestration Was Obama’s; Obama Once Vowed Veto to Keep"
Actually, Congressional Obstruction to raising the debt ceiling and threatening to destroy the faith and credit in the US lead to the Sequester. All actions regarding how it was executed follow from there.
Or would you rather discuss how the country go to the point where the faith and credit in the US might even need to have been challenged because a particular somebody took a surplus to a deficit and ran it for 8 years before running the country itself into the ground?