Saturday, July 30, 2011

Links for end of July 2011

Obama Fiddles while Debt Ceiling Fires Burn hits hard at Obama.  He has lots of options, but chooses to ignore them and instead offer cuts to Social Security.  He wasn't asked by Boehner or any other politician to do that. Quoting Yves Smith (and this is really making me distrust Obama):
And the Obama appears recklessly unwilling to circumvent the debt ceiling, since it would eliminate his leverage for pushing through entitlement cuts.
A commenter notes that:
 The American people aren’t confused or contradictory, they want these things and polling consistently shows they know how they want to pay for it all: Much higher taxes on the top quintile.
I've heard more and more polls to that effect (and I feel that way too).

And then, while our government representatives are using deception and extortion to take away our hard earned and 99% paid for Social Security benefits (a pocket change tax increase would have the program paying full benefits for the next seventy five years, but nobody wants to tell you that), Standard and Poors is using similar extortion tactics, threatening the rating (or something like that) of US bonds, to get out from their responsibility (major) in the financial collapse of 2008. 

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