Bernie Sanders On Tavis Smiley - Bush Tax Cuts

This clip is way too political for me, and I don't often agree with Sanders, unless he's talking about Bernanke, but he strikes a note here.

I would have no problem with the 2-year extension had it been paid for - balanced by commensurate cuts in federal spending.  The Pentagon would be a good place to start.  But there were no spending cuts.  Congress couldn't find the balls guts.  So the tax cuts should have been allowed to expire.  

The 2-year increase to the deficit because of the extension will be approximately $700 billion, about the price of TARP.  The easy fix, that won't hurt anyone but the military, is to cut the Defense budget by 50% over the next 5 years. 

I think the neo-cons just bombed my computer.

David Stockman got it right the other night on the Colbert Report...

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Comments

[DailyBail]

China gold imports to touch 260 tonnes in 2010

http://www.commodityonline.com/news/china-gold-imports-to-touch-260-tonnes-in-2010-34352-3-1.html

[DailyBail]

Global bond rout deepens on US fiscal worries
Agreement in Washington on a fresh fiscal package has set off dramatic rise in yields of US Treasuries and bonds across the world, threatening to short-circuit any benefits of stimulus. The bond rout raises concerns that the US authorities may be losing control over events.

http://www.telegraph.co.uk/finance/economics/8190059/Global-bond-rout-deepens-on-US-fiscal-worries.html

read this one...

[patgarza]

If you are planning a mortgage refinance then you should search online for "123 Mortgage Refinance" before you decide they found 3.25% refinance with bad credit history and also did instant analysis of my mortgage.

[Texas Dar]

Aint it funny how these scum-bags can always find ways to cut into our lifes and making it hard on us just getting by to find money, but somehow neaver cut any of their moneys or income. Plus manage to give them selfs a raise every year.

Its always us who have to suffer when goverment runs out of money. And they are out this time. They have blead us dry. I shutter to think whats going to happen in the next two years.

[john]

Out Behind the Woodshed!

[SNIP]

Mr. Sanders, my hat's off to you.

I disagree with your prescriptions for a fix, but I'll be damned if you didn't just take the so-called "Free Market" folks out back, beat them within an inch of their lives and then assault 'em in the back door for good measure.

http://market-ticker.org/akcs-www?post=174718