Comments on: Is the debt-ceiling deal hated because it will work, or won’t work? http://blogs.reuters.com/great-debate/2011/08/08/is-the-debt-ceiling-deal-hated-because-it-will-work-or-wont-work/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: threeRivers http://blogs.reuters.com/great-debate/2011/08/08/is-the-debt-ceiling-deal-hated-because-it-will-work-or-wont-work/#comment-35944 Tue, 09 Aug 2011 15:06:58 +0000 http://blogs.reuters.com/great-debate/?p=9832#comment-35944 Everyone is disappointed. Those familiar with the dynamics of longer term public finances are disappointed we didn’t get anywhere. Everyone else eithers pretends to be in denial, or is in denial, and knows something is terribly wrong but are not ready to seriously consider any specifics because it is either over their heads or way too scary to think about.

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By: CDN_Rebel http://blogs.reuters.com/great-debate/2011/08/08/is-the-debt-ceiling-deal-hated-because-it-will-work-or-wont-work/#comment-35943 Tue, 09 Aug 2011 14:49:06 +0000 http://blogs.reuters.com/great-debate/?p=9832#comment-35943 @ptiffany HAHAHA, I mean HAHAHAHAHA! If you’re ‘listening’ to analysts on TV then that shows your level of financial sophistication. Analysts on CNBC are selling sensationalism or a book or just hyping their own books – very little real value there. Start subscribing to real analyst weeklies (they cost $$$) and you’ll learn a thing or two about the economy.

As for the debt deal fiasco: yes, something needs to be done and most everyone can agree on that, but what was done was the worst of both worlds – didn’t raise revenue, didn’t make long-term structural cuts, just short-term superficial cuts, and didn’t come up with a big enough reduction number. Ending Bush tax cuts for all would be a good start ($250B/yr); slashing identified waste in medicare and defense discretionary would be another ($125B/yr). That’s already almost double what these jokers could come up with after three months of bickering and posturing. I feel bad for Obama because the conservative goal is to humiliate him no matter what the cost but he could have been more proactive about a solution when it was obvious the Republicans were going to drag him into the debate. If he got ahead of that manuoevre he would have come away the clear winner and maybe the T-Pers would learn their place as the tiny minority they are.

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By: lambertstrether http://blogs.reuters.com/great-debate/2011/08/08/is-the-debt-ceiling-deal-hated-because-it-will-work-or-wont-work/#comment-35932 Tue, 09 Aug 2011 11:29:13 +0000 http://blogs.reuters.com/great-debate/?p=9832#comment-35932 “Deserving of a AAA rating.” Oh, please. The ratings agencies were key players in the orgy of looting and systemic accounting control fraud in the FIRE sector that led to the 2008 crash. In our system, the only reason they have any credibility is because they enable fraud, looting, and financial chicanery of every kind.

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By: ptiffany http://blogs.reuters.com/great-debate/2011/08/08/is-the-debt-ceiling-deal-hated-because-it-will-work-or-wont-work/#comment-35899 Mon, 08 Aug 2011 19:35:24 +0000 http://blogs.reuters.com/great-debate/?p=9832#comment-35899 “There is … a broad consensus that the debt-ceiling deal was a major contributor to the market plunge that kicked in last week.”

Really? Who have you been listening to? There is a broad concensus that the deal was not significant, but the pseudo debate covered up many of the signs of a failing U.S. and world economy. You didn’t hear this?

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