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U.S. House overwhelmingly passes two-year budget deal

Comments (26)
  • Well done. Small progress yes, but maybe they establish the process going forward. Many more big issues, such as reduction of military spending, base closings, closing tax loopholes, infrastructure improvements, job training etc....but hey, tackle the low hanging first, and avoid government shutdowns, which kills the markets.. The sequester cuts are basically kept in place, but spending is allowed to be cut more smartly, not just across the board like it was, which is always stupid whether for the government or private companies. The annual deficit is on a steady course downward, and hopefully balanced by the time Obama leaves office (back to Clinton level).
    12 Dec 2013, 07:00 PM Reply Like
  • You make some good points. But we should have base openings, not closings. Take the closed bases and shift workers from DC to them. DC workers get about a 30% cost of living premium and that would go away. Then a lot of them would quit rather than transfer to Blytheville Arkansas and they could be replaced with lower grade and seniority workers who were closer to the people needing their work. Then that would create a huge glut of offices in DC and we could cut the rent 50-75% when the leases ran out. Then it would not be a high cost area and we could cut the 30% bonus off the personnel bill. The internet has made large concentrations of workers in one place obsolete. And this doesn't even begin to cut functions.
    12 Dec 2013, 10:25 PM Reply Like
  • Fantasyland, democrat in denial of reality.
    13 Dec 2013, 01:38 AM Reply Like
  • actually the GDP numbers and a lot of other numbers did better with the government shutdown than before the government shutdown.

     

    The "Clinton level" you speak of is the result of 6 years of split power in Washington with Rs running the legislative branch and Ds running the executive branch. Rs running both branches was as disastrous as Ds running both branches starting in 2009.

     

    The point is, split government is always better because the voice of dissent always needs some bite to go with its bark.
    13 Dec 2013, 02:58 AM Reply Like
  • King Rat, don’t forget the GDP numbers being fed to us after July of this year are calculated using the new accounting procedures that should add 2% +/- to the numbers. Pull the 2% out and whaddayagot?

     

    The changes to the way GDP is calculated is probably a good thing, but I question the timing of it. But what do you do after you’ve poured $10 trillion dollars into stimulus measures and the economy won’t budge? Cook the books and take another look!! It’s not like this administration is beyond altering data to suit its agenda.

     

    One really good thing I will say about Bill Clinton is that if I had to pick one president I thought was skilled in the art of compromise, it would be him. Obama is absolutely the worst and the nation is paying a price for it. 1,134 days left.
    13 Dec 2013, 05:46 AM Reply Like
  • Problem is its not split, Deems control 2/3 and got 2 ultra liberal whacko judges, and a bonus turn coat chief justice to boot.
    14 Dec 2013, 01:30 AM Reply Like
  • Small steps are better than no steps or backward steps. The fact the far left and the far right didn't like it, tells me it was a good bill. Compromise isn't pretty, but in divided government, it is the only way to get something done.
    12 Dec 2013, 07:06 PM Reply Like
  • I am curious to know who did not vote for this Bill. Are their holdouts from both sides?
    12 Dec 2013, 07:13 PM Reply Like
  • 62 Republicans and 32 Democrats voted no.

     

    http://yhoo.it/1cEG8sW
    12 Dec 2013, 07:20 PM Reply Like
  • If this is what a budget looks like we're all screwed, my kids especially. The debt keeps piling up, and we keep pushing reduction further and further down the road (past the next election). We need serious budget reductions and to make this government smaller, military and all otherwise we're screwed and will be crushed under our own weight.
    12 Dec 2013, 07:35 PM Reply Like
  • "If this is what a budget looks like we're all screwed, my kids especially."

     

    If you are intent on screwing your kids keep the economy bad to pay down debt. Our grandparents did not screw us with debt because we inherited the world they built along with the debt to build it. If we only pay down debt we leave a poorer world to our descendents. That, not the debt, is what screws them.
    13 Dec 2013, 12:34 AM Reply Like
  • EK1949, what are you talking about? I mean, honestly I can't figure out what you are implying. Do you mean that balanced budgets will make the nation poorer? Do you mean that we need to spend more money on projects? What is it?
    If not for the US's "rebuilding of Iraq", there probably would have been a balanced budget from 2005-2008. According to your logic then, what the US needs to do is rebuild more countries?

     

    The US enjoyed tremendous economic improvement during the late 1940s and throughout the early 1960s while implementing the Marshall Plan, Korean War, and space race. All the while debt/GDP fell tremendously. It seems to me that if a nation wanted to it could both run a surplus and fund humanitarian projects.
    13 Dec 2013, 02:51 AM Reply Like
  • EK1949, one word – ‘Detroit’ – sums up Liberal economics better that anything.

     

    It baffles me why people believe unsustainable debt levels can provide a better future. Our economy can be described with one very simple equation; 70% of our economy is derived from consumer spending. When you remove money from the hands of consumers, you alter the equation and the results should be obvious. Government is the problem, not the solution.

     

    Here’s a snippet from a Congressional Budget Office report. If it weren’t for the references to ‘CBO’ in the report, you would think this was written by Tea Party ‘radicals’.

     

    “If current laws generally remained in place, federal debt held by the public would decline slightly relative to GDP over the next several years, CBO projects. After that, however, growing deficits would ultimately push debt back above its current high level. CBO projects that federal debt held by the public would reach 100 percent of GDP in 2038, 25 years from now, even without accounting for the harmful effects that growing debt would have on the economy. Moreover, debt would be on an upward path relative to the size of the economy, a trend that could not be sustained indefinitely.”

     

    Full document - http://1.usa.gov/17tZo67

     

    The full document lays out several financial scenarios but is very clear that addressing the debt now will have great benefits for future generations. However, we just continue kicking the proverbial can down the road and our current fiscal path will almost certainly require future generations of Americans to sacrifice 100% of their paychecks to pay for the debt my generation is racking up. Hopefully someone will be standing there telling me ‘you didn’t build that’.
    13 Dec 2013, 06:45 AM Reply Like
  • "If not for the US's "rebuilding of Iraq", there probably would have been a balanced budget from 2005-2008. According to your logic then, what the US needs to do is rebuild more countries?"

     

    No, one is enough, provided it's the right one. :-)

     

    "The US enjoyed tremendous economic improvement during the late 1940s and throughout the early 1960s while implementing the Marshall Plan, Korean War, and space race. All the while debt/GDP fell tremendously."

     

    Of course it did! We were enjoying "tremendous economic improvement"! The more we did the more debt fell percentage-wise. You are in danger of getting my point.

     

    "It seems to me that if a nation wanted to it could both run a surplus and fund humanitarian projects."

     

    Oh well, it was fun while it lasted. :-(

     

    No, a nation can't fund projects it must fund to prosper and run a balanced budget. That will never happen.
    14 Dec 2013, 05:27 PM Reply Like
  • Does it include Debt Ceiling deal also? If not, nothing really got resolved for Market.
    12 Dec 2013, 07:39 PM Reply Like
  • No, this bill does not raise the debt ceiling.
    12 Dec 2013, 08:40 PM Reply Like
  • Cue the Stones "you can't always get what you want".
    12 Dec 2013, 08:22 PM Reply Like
  • Can...road....kick.

     

    I know one way to solve a lot of problems. One term. Or at least drastically reduce the bennies. Public service used to be an honor, not a path to personal riches they would never get elsewhere.
    12 Dec 2013, 08:53 PM Reply Like
  • Time to buy some more gold...
    12 Dec 2013, 09:40 PM Reply Like
  • When you kick the can down the road long enough, eventually you kick it over the cliff.
    12 Dec 2013, 10:18 PM Reply Like
  • On the way towards normal and civilized government again. The horror that was 2011 is fast fading.
    12 Dec 2013, 10:26 PM Reply Like
  • This is a joke, time killer. 2qt of 2014. Fun fun fun.
    12 Dec 2013, 10:57 PM Reply Like
  • Republicans are allowing Democrats to own this government and this economy. Obamacare is their play because its about to become the biggest failure in history, in turn plunge the economy into recession. They are counting on this for 2016, and Hilary won't have a prayer. Why do you think Deems keep delaying Obamacare until after elections, why do you think Obamacare wasn't launched until after re-election. Would Obama have won if it launched just before the election? Not a chance. Its a national embarrassment.
    13 Dec 2013, 01:44 AM Reply Like
  • How you’re House Representative voted for the proposed budget to be sent to the senate!

     

    http://1.usa.gov/1crI58o
    13 Dec 2013, 07:59 AM Reply Like
  • "EK1949, one word – ‘Detroit’ – sums up Liberal economics better that anything."

     

    Really? The private sector abandoned the city, then the public sector rushed in to....abandon the city. I don't see anything liberal about that.
    14 Dec 2013, 05:40 PM Reply Like
  • You are avoiding his point entirely. It was its over spending liberal policies that bankrupted them. Not abandonment. The auto industry in the US is dying a slow death because they are garbage compared to foreign competition. Yes I've driven a Ford lately and they are still unreliable crap.
    14 Dec 2013, 09:00 PM Reply Like
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