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Friday
Jun242011

FINALLY! - House Majority Leader Eric Cantor Introduces Balanced Budget Amendment 

My reaction is NOT an endorsement of the GOP plan to achieve said balance, rather a guttural a response to a 2-decade wait since the last attempt at fiscal sanity in Washington.

In another move upstaging and likely upsetting Speaker Boehner, Cantor gets serious, or at least pretends to.  This is a first step in a long process that will require passage by both chambers of congress, a presidential signature and ratification by at least 38 states.

Bad for stocks, good for bonds, and outstanding for your children and grandchildren.

From the press release:

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding House consideration of a balanced budget amendment, H.J. Res. 1, sponsored by Congressman Bob Goodlatte: 

“We are being asked by the Obama Administration to approve a debt limit increase. While President Obama inherited a bad economy, his overspending and failure to enact pro-growth policies have made it worse and now our national debt is currently more than $14 trillion. House Republicans have made clear that we will not agree to raise the debt limit without real spending cuts and binding budget process reforms to ensure that we don’t continue to max out the credit card. One option to ensure that we begin to get our fiscal house in order is a balanced budget amendment to the Constitution, and I expect to schedule such a measure for the House to consider during the week of July 25th. I have no doubt that my Republican colleagues will overwhelmingly support this common sense measure and I urge Democrats to as well in order to get our fiscal house in order."

 

 

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Reader Comments (20)

US ready to arm Philippines amid China tension

http://beta.news.yahoo.com/philippines-seeks-us-arms-amid-china-tension-182220614.html

Related:

http://www.tradeaidmonitor.com/2011/06/obama-adminstration-will-seek-to-encourage-business-investments-in-the-philippines.html

and

$100 MILLION PHILIPPINES PROJECT NEED SENIOR ADVISOR

USAID-Manila is seeking a Senior Rural Development Advisor for The Philippines, where the selected candidate would help to manage the $100 million Growth with Equity in Mindanao II, or GEM II, initiative. (Solicitation # SOL-492-11-000012). The one-year position pays an annual salary in the $99,628-$129,517 range.

https://www.fbo.gov/index?s=opportunity&mode=form&id=420d72e817d92cc8646eba4aa1fb4b63&tab=core&_cview=0
Jun 24, 2011 at 1:01 PM | Unregistered Commenterjohn
Everyday I'm more & more PISSED OFF.

Business investments overseas, military aid overseas. WTF!!! We don't need ANYTHING in this country.

john, your links fired me up.
Jun 24, 2011 at 2:51 PM | Unregistered CommenterTR
I am going to be keeping a close eye on the Whitey Bulger situation. His capture has in no doubt made many nervous.

http://www.boston.com/news/local/massachusetts/articles/2011/06/24/trial_could_reopen_old_fbi_wounds/

[snip]

Bulger, 81, started working as an FBI informant in 1975, when he began cooperating with John J. Connolly Jr., an agent and fellow native of South Boston’s Old Harbor projects. Bulger’s tips helped Connolly and the Boston FBI dismantle the city’s reigning Mafia clan, the Angiulo family.....

......“It was a big problem when they didn’t have Whitey,’’ said Harvey A. Silverglate, a criminal defense lawyer and sharp FBI critic. “It’s a bigger problem now that they do.’’


I suspect that as per reports he has alzheimers/dimentia

http://news.yahoo.com/s/time/20110624/us_time/08599207968800

[snip]

Schlank and another longtime resident of the building, Barbara Gluck, both said Greig told them Bulger had Alzheimer's. She also told Schlank that he suffered from depression. The neighbors observed controlling behavior on Bulger's part ....

I suspect that his girlfriend was finally unable to care for him and may have felt threatened. She may have called a friend who called a lawyer and negotiated their surrender. I am almost certain that the advertisemsnts (PSA's) that ran were just a PR campaign. A deal may have been made prior to that.

Now I wonder if the testimony of a man with alzheimers/dimensia is admissable in court? Stay tuned.
Jun 24, 2011 at 3:20 PM | Unregistered Commenterjohn
Most times I think Eric Cantor is a dickhead. But this time I think he has it. A balanced budget amendment would force Congress to face the reality of paying for wars they support or fail to oppose, paying for tax credits and subsidies they hand out, and generally doing their freaking jobs.
Jun 24, 2011 at 3:45 PM | Unregistered CommenterAllen
The president, his czars, his barely involved cabinet and all of the Democrats in the Congress must be stunned, they will have to research the definition of balanced budget to see what it means. I've observed Democrats for 7 decades and from all appearances they do not recognize a connection between income and outgo and have absolutely no interest in any such concept. And Obama has worsened the issue, he seems to believe government problems are solved by just printing more money, a few more years of him and his grandiose schemes and the dollar will lose all of the little value it has now - both parties of the Congress is complicit, none dare defy him. Go ahead and light your cigar with a twenty dollar bill, it is no longer braggadocio, it has too little value for that.
Jun 24, 2011 at 4:02 PM | Unregistered CommenterVernon Clayson
With statements like this from Barack Obama, the real problem with him is exposed. He is a "Community Organizer", not a President with any type of business background. This is very scary for America. Why did/has all of his cabinet advisors on the economy quit? This statment tells the story. America, you are "reaping" the awards of "Hope & Change" and they are not good. Enjoy! Technology advancement is what brought America to the forefront economically. Evidently Obama doesn't even want the cottin gin and its technological advancement. I wonder how he'd like to pick cotton then? Or his children?

http://wizbangblog.com/content/2011/06/16/good-god-is-he-really-that-stupid.php

http://www.ihatethemedia.com/obama-in-2009-if-cant-fix-economy-fire-me

........and the typical Barack Obama supporter: http://weaselzippers.us/2011/06/17/sign-the-petition-to-ban-job-killing-atms/
Jun 24, 2011 at 4:33 PM | Unregistered CommenterTaterSalad
Boston FBI denies Bulger whereabouts were known

http://www.bostonherald.com/news/regional/view.bg?articleid=1347673&srvc=rss

I disagree... The initial tip went to the US Marshalls for a reason.... deals were cut or else a swat team would have taken him out and he would have 'been buried at sea'. This among other things are a huge story... The DOJ and FBI refusal to investigate mortgage fraud and few other things all add up... Whitey and a few others know where 'all the bodies are buried' and it is not good. Just one example
Jun 24, 2011 at 6:27 PM | Unregistered Commenterjohn
Interesting that the F.B.I. couldn't find Mr. Bulger for over 16 years, but out of the blue, there he is, with reported old peoples ailments. The cover ups continue. Such is life in the slow lane. One guesses that the F.B.I. had to come up with something to deflect their blatant destruction of the peoples rights, that the D.o.J. granted, probably with "O"'s blessing. Perhaps they will print a story of how they were really able to tract Mr. Bulger due to their being able to strip the rights of every American citizen?
Jun 24, 2011 at 6:54 PM | Unregistered CommenterNorman
Leave Barack "BUSH" Obama alone. HE got our taxes in Pakistan,Libya, Yemen & soon the Philippines.
He's keeping the MILITARY INDUSTRIAL COMPLEX in the BLACK at the cost of Republicans & Democrats.
HOPE & CHANGE is the same LIE as WMD.

I need a CHILL PILL.
Jun 24, 2011 at 8:43 PM | Unregistered CommenterTR
BULLSHIT!

http://www.boston.com/Boston/metrodesk/2011/06/official-bulger-tip-came-from-overseas/MTEfJCoe4nQIilH9la9fqL/index.html

[snip]

FBI spokesman Damon Katz said, “The identity of the tipster and where the tipster is from is not something we are going to get into.”
Jun 24, 2011 at 9:20 PM | Unregistered Commenterjohn
Ad produced in Maine helps lead feds to Bulger

http://www.onlinesentinel.com/news/ad-produced-in-maine-helps-lead-feds-to-bulger_2011-06-23.html

Note: a couple of Boston media outlets say that a woman saw this ad in Iceland and reported them....

http://www.wbur.org/2011/06/24/tip-iceland

Note: posted for the record..... Iceland??????
Jun 24, 2011 at 10:09 PM | Unregistered Commenterjohn
Mob boss brought back to Boston; will he sing?

http://beta.news.yahoo.com/mob-boss-brought-back-boston-sing-195317649.html

[snip]

James "Whitey" Bulger's capture could cause a world of trouble inside the FBI.

The ruthless Boston crime boss who spent 16 years on the lam is said to have boasted that he corrupted six FBI agents and more than 20 police officers. If he decides to talk, some of them could rue the day he was caught.

"They are holding their breath, wondering what he could say," said Robert Fitzpatrick, the former second-in-command of the Boston FBI office.
Jun 24, 2011 at 10:25 PM | Unregistered Commenterjohn
I ran across this today. We have someone in goverment trying to do the right thing, like him or not. I dont know if hes a good guy or not, but hes trying...... Conceding Debt Ceiling Battle Will Destroy GOP

And he told Fox News’ Sean Hannity, “The Democrats are not able to cut spending. Their whole political base is created by giving money away – redistributing wealth; new government programs. The idea of a balanced budget to them essentially puts them out of business.

“So, the Republicans have to be prepared to fight to stop this reckless spending.”

http://www.newsmax.com/Headline/JimDeMintTeaPartyBarackObamaDebtCeiling2012election2012GOPPrimaries/2011/06/24/id/401316?s=al&promo_code=C818-1


“We don’t have a revenue problem – we’ve got a spending problem,” DeMint said. “But if we cut the spending, you would see the revenue begin to grow.”
Jun 24, 2011 at 10:30 PM | Unregistered CommenterTexas Dar
Whoopie...Much Ado about Nothing.....The Nation's current economic model will probably not be standing when the benefits of such action would arise.....This economy and new deal economy will be long gone....Default. The only answer is sound money and THAT would halt any need for these BS proposals.....You can't print Gold or Silver. Make these bastrds play fair and take their ability to print away....YESTERDAY.......AB
Jun 24, 2011 at 11:38 PM | Unregistered Commenterain't bullshitt'n
Thanks to everyone for the links...my apologies for being away from the site all day...personal matters to deal with...but i will be posting stories all weekend to make up for the absence today...
Jun 25, 2011 at 1:48 AM | Registered CommenterDailyBail
Whoopie...Much Ado about Nothing.....

AB, I agree, but if guys like Mint Ice Cream, gives someone like me hope that some shit head in goverment will do the right thing, and its all just a big show for people like us, when "Nothing Happens", we will do, take to the streets...............get realy pissed offfffffff........march on washington..............

OK, Its all one big show for all of us. Its only telling us what we want to hear... I talk a good hope, but I know in my Hart, nothing is gona change. Both sides wipe thAre Ass with the same "TP"........

The sheeple have no clue. We do and need guys like ol Jim, to give us hope. Then shit in our face at the last Min. and the vote to up the Debt Limet, pased over night 49-to-51..............How nice.

All to make us think they were realy trying...
Jun 26, 2011 at 12:03 AM | Unregistered CommenterTexas Dar
Thanks to everyone for the links...my apologies for being away from the site all day...personal matters to deal with...

DB, your not Supper Man. Nor Spider Man. Nor Haus Cartright, or Andy Griffet. So your just like one of us. You'll go Nuts if you dont take a break from time to time....

But Crap, do we miss ya when yr gone from the Mic.......Sooo, do what ya gotta do but leave us with something good to look at.................! Tex.
Jun 26, 2011 at 12:26 AM | Unregistered CommenterTexas Dar
T.D., careful what you print here or anywhere else. The use of key words can get you in hot water today. With the F.B.I. now having free reign, caution is the watch word.

As far as the KABUKI about the debt limit, it's just that, depending who is doing the talking. Both parties are in it together. They will sell out just as they have been doing the past 30 years. Keep in mind that the Pentagon takes near 50% of the outlay, the wars are on the credit card, (yours & mine), and remember, the Repulicons with the help of the Democraps are responsible for this mess.

As for "O", well, he got to be the first, perhaps the last, but he caved and is beholden to the financial interests of this country. It might also interest those who might ask, he has been set up since the start, but I wouldn't bet the ranch that he understands that yet. He's still riding the high of being P.O.T.U.S. !

One other item, what's taking place in Greece, is a run up to where the U.S. is headed. Remember, "Fear" is the only tactic that they have. They can't put 300 million people in this country in jail. The rest are just sycophants to the few how steal from the many.
Jun 26, 2011 at 1:13 AM | Unregistered CommenterNorman
The Debt Limit Increase Fix Is In Im with this guy and how its going to go down...

Here is a theory that many believe on Capitol Hill. The walk out by Senator Jon Kyl (R-Arizona) and Rep. Eric Cantor (R-Virginia) from the Vice President’s debt limit negotiations on Thursday was staged and agreed to by both parties as a means for Republicans to look tough before they cave on increasing the debt limit
http://biggovernment.com/capitolconfidential/2011/06/25/the-debt-limit-increase-fix-is-in/
Jun 26, 2011 at 4:06 PM | Unregistered CommenterTexas Dar

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