90 billion really is a pittance. I suppose it beats the 100 million (yes million) that Obama ordered the government to save back in 2009.
The Fellowship has returned to the Shire. The Battle over the Debt Ceiling was lost. Sauron, with his Orcs of the Red Eye were victorious in raising the debt ceiling by $2.4 trillion. Saruman, along with the Uruk-hai, aided and abetted the passing of this monstrosity of a bill.
How long will it take the people gathered in Mordor to spend an additional $2.4 Trillion of our money? I give it 13 months.
As mentioned in the previous edition of the Bywater Gazette, the plan calls for an immediate reduction in spending of $917 Billion spread over 10 years. That means we may actually see a whopping $90 billion in cuts, and no real promise of anything beyond that.
You know you've been caught flatfooted by the spiders of Mirkwood when the Mouth of Sauron refers to the deal as a Morgoth Sandwich with Morgoth fries and then turns around and votes FOR the deal. Would you like to supersize your debt ceiling with your order?
First off, I'd like to take a moment to thank Sqo'tty and the LSF team for having me join in on the rollicking fun here that is LibertySF. I'll be bringing you perspectives from Team Hobbit on an occasional basis. After all, I am busy Hobbit with many things to do in The Shire.
The latest news out of Mordor is that the forces of Sauron have come to an agreement with the Gondor/Rohan Coalition on raising the debt ceiling. The agreement would call for increasing the Federal debt limit by $2.4 Trillion in two steps, the first to take place immediately and the second sometime next year and sufficient enough to allow Sauron and the Orcs of the Red Eye to keep spending through the next election. It also calls for $2.4 Trillion in cuts, taking place over a period of 10 years, with $917 Billion of those cuts planned immediately, which means they will cut $91 billion per year over 10 years, and attempt to find another $1.5 trillion in cuts over 10 years, or roughly another $150 billion per year.
Let's see if I have this right. Spending cuts this year equals $240 billion, assuming Congress gets its act together and the Tea Party Hobbits get on board with it. Additional spending over the next year is $2.4 trillion. In other words, for every dollar in spending cuts achieved this year, the folks gathered in Mordor intend to spend 10 dollars. Does that really sound like the kind of deal we Hobbits here in the Shire are looking for? If you think it is, then meet me over at the Prancing Pony for pints. You're buying, of course.
The Lady Arwen has declared this plan as moving us closer to being like Isengard. It was a series of disastrous social programs that broke Isengard.
If, like me, you realize that this deal stinks of more fast talk from the likes of Gríma Wormtongue, then come on over and I'll break out some Southern Star and brew up some tea and we can ponder the ways of Wizards.
You can encourage or require small businesses to pay more taxes or employ more workers, not both.
Senator John McCain this week compared Tea Party Patriots to Hobbits, busily defeating Mordor and heading back to Middle Earth to celebrate. Setting aside the fact that McCain's Middle Earth geography is next to non-existant, this did begin a twitter dialogue about Team Hobbit. You can check it out at #teamhobbit.
This analogy to Middle Earth, Hobbits and so on set me to thinking. My pal Sqo'tty already mentioned that if the Tea Party Patriots are Hobbits, then Michele Bachmann would be Arwen, a reasonable choice.
But who would the other players in Congress be?
Since McCain mentioned the Defeat of Mordor, then McCain must think that Obama is Sauron. Hmm...
Nancy Pelosi would be suitable as the Mouth of Sauron.
Joe Biden is a fitting Grima Wormtongue.
John McCain seems to be bucking for the role of Boromir, minus Boromir's heroic stand to save Merry and Pippin and his redemption. After all, he did want Sauron's ring for himself.
Paul Ryan may be a suitable Gandalf, although there are those who may thnk that this role should go to Ron Paul.
Sarah Palin comes to mind for the role of Éowyn.
Boehner could be Théoden.
Any other thoughts on the who's who list of the Tea Party Middle Earth?
Keep in mind that this is all in good fun. Just because a lot of Tolkien's characters died in the Trilogy has ZERO bearing on this list. Besides, John McCain started this, anyway.
Nasa wants to first just do a drive by. Then maybe a dock on the next flight.
There is a renewed push in Congress from the GOP side to get a Balanced Budget Amendment passed and sent to the States. Obama, with his annual deficits averaging $1.5 trillion, has proved that such an amendment to our Constitution is necessary. Obama has, of course, threatened to veto any such measure. The Leftists in Congress also oppose such an amendment, preferring instead to push our country closer to bankruptcy.
What I don't get is why the Democratic Party, which claims to be the Party of Jefferson oppose such a limitation. In 1798, Jefferson wrote "I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an additional article taking from the Federal Government the power of borrowing." (Wikipedia)
Although Bush increased our national debt by $5 trillion during his eight years in office, Obama, in two and a half years has added roughly $4 trillion and is posed to push it the national debt to over $16 trillion before the end of his first term. At this pace, should Obama be re-elected and the spending spree continues unabated, the national debt will be more than double by the end of an eight year Obama Administration. We will become the next Greece.
The Balanced Budget Amendment being proposed would cap Federal spending at 18% of GDP, which is roughly what Federal revenues are. John Thune has this to say about it over on CNN.com:
To make sure Washington does not fall back on the old trick of simply raising taxes to achieve balance, our amendment would cap spending at 18 percent of gross domestic product, compared with the 24 percent we are spending now.
That cap is not just plucked from thin air; 18 percent is our average level of tax revenues over the past 40 years. Under current tax policy, that is where they are expected to be again in just a few years. At that level, limiting government spending to 18 percent of GDP would balance the budget without raising anyone's taxes.
This sounds to me like a darn good plan, and balanced budget amendments have been getting floated around since FDR, so it is high time we got it done.
What shocks me is some of the rhetoric floating around. Check out this screenshot of J.G. Hertzler's (Star Trek's Martok) wall (you may need to be loggref on to FB to see it):
ENABLING ACT circa 2011: In 1933, the German Reichstag passed the Enabling Act which ushered in FASCIST DICTATORSHIP in GERMANY. The Republicans now want to pass their own Enabling Act in the form of a Constitutional Amendment advocating a corporate takeover of the economy and destruction of the social safety net set up by FDR. It is nothing less than that. America is under attack. jgh
JG Hertzler is comparing the Balanced Budget Amendment to the Ermächtigungsgesetz. That was the act that enabled the Nazis to make Hitler the dictator of Germany, enabled them to march on many countries, annihilate millions of people in gas chambers and bring Europe to its knees. It gave absolute power to Hitler. And such a comparisons of any American in either political to Nazis makes me sick to my stomach.
Further, the Balanced Budget Amendment doesn't grant anyone absolute power, but denies the Federal Government any further ability to drive America towards bankruptcy.
Quite frankly I thought a lot better of JG than to make such comparisons, and am not happy about posting this publically. But, it has to be exposed. I am saddened that I am the one having to do it.
The Balanced Budget Amendment, which caps the Federal Government's ability to spend to 18% of GDP is a darn good proposal. It won't fix our debt problems overnight, but it will put America back on the track to solvency. It is a proposal whose time has come.
Nasa currently spends about $210 million a year on boosting the space station altitude. In 2014 a Variable Specific Impulse Magnetoplasma Rocket is going to be send up to do the job, much more cheaply. It will only cost $12 million a year to do the same job. Below is attached a youtube vid... because it just looks pretty when fired. Like sci fi thrusters are made to look.
I think I got to read this book. It puts to word elegantly what I have concluded for years.
Do to work keeping me late I only managed to get to the event in the last hour. Since the firing lanes looked full I decided to just hang out and chat. Had good conversations on guns (surprise) and WW2. Wish I could have got there earlier, good people.