Read this article on the budget balancing measures being demanded of Greece by the European Union. Basically, when one says the EU are making demands, it's really Germany, the only financially stable country of any size in the EU. The article speaks for itself.

http://online.wsj.com/article/SB1000...?mod=djemTEW_t

In the case of the U.S., those that will be demanding the kinds of spending cuts and tax increases needed will likely be China and Saudi Arabia, maybe Japan as well. Congressional approval of an increase to our debt limit will be critical to the timing of what will happen to us. The Fed has said they can stretch our finances until about mid-August, not further. At that point the choice will be for the U.S. to default on it's debt obligations or begin to make massive cuts to federal spending and increase taxes--life changing cuts, including cuts to entitlement programs heretofore considered sacrosanct. And cuts to other government programs and services that will touch each of us in very real ways very quickly.

If it makes you feel any better about the imminent threat to our way of life, maybe we should get a little excited about our elected representatives simply "playing politics" with this, maybe the most serious threat that has faced our country in decades. Those that were doing most of the negotiatioins have stopped talking. One of the lead negotiators simply walked away from the table. Now it looks like it's up the the President and the Speaker of the House to come up with a plan. They don't have much time--WE don't have much time.

Bet Obama and boehner head for the links again

There are those that think default, or repudiation of it's debt in other words, is Greece's best option, as it can never under present circumstances repay it's debt on top of debt. With unemployment at record highs, such as youth unemployment at 40%, raising the already high tax rate and taking more money out of business hands is going to help Greece, how?

China, Saudi Arabia and Japan dictating U.S. economic policy? Funny, I never see them on C-Span in the budget hearings. I gotta get a bigger screen.

Personally, I'm not walking around with an umbrella to fend off the falling sky, but I think I'd let the President and the Democrats decide what entitlements to cut and articulate this need to the public. It is his administration, after all. I won't be holding my breath for that occurrence though.

My guess is that after 2012, we'll be much less excited about all this. Playing politics?; everybody always is, aren't they. It's not limited to one party.

http://www.cnbc.com/id/43526219

Originally Posted by RichieLion

...I think I'd let the President and the Democrats decide what entitlements to cut and articulate this need to the public. It is his administration, after all. I won't be holding my breath for that occurrence though.

My guess is that after 2012, we'll be much less excited about all this. Playing politics?; everybody always is, aren't they. It's not limited to one party...

You're absolutlely right, Richie. It's now up to the President and the Speaker of the House.

Want my expectations? There won't be any significant change in our spending, and our debt limit will be increased. We'll kick the can down the road once again. Just like the politicians from both parties have done for decades. We were all told to wait and see what happens when the Republicans take control of the House (which determines spending bills).

I laughed when I heard that and predicted what would happen. Nothing. Who was it that walked away from the negotiating table last week? One of those guys who was going to lead us out of the dark, fiscal woods that we're in?

Baloney! We don't elect leaders, we elect campaigners for another election to one of those sweet 535 jobs. In the end, like Greece, our debtors will decide how our lives will change, not our "leaders". Because we don't have any.

Originally Posted by Villages Kahuna

You're absolutlely right, Richie. It's now up to the President and the Speaker of the House.

Want my expectations? There won't be any significant change in our spending, and our debt limit will be increased. We'll kick the can down the road once again. Just like the politicians from both parties have done for decades. We were all told to wait and see what happens when the Republicans take control of the House (which determines spending bills).

I laughed when I heard that and predicted what would happen. Nothing. Who was it that walked away from the negotiating table last week? One of those guys who was going to lead us out of the dark, fiscal woods that we're in?

Baloney! We don't elect leaders, we elect campaigners for another election to one of those sweet 535 jobs. In the end, like Greece, our debtors will decide how our lives will change, not our "leaders". Because we don't have any.

Well we will definitely kick the can down the road until 2012, anyway. Can't be exciting the electorate now, can we. But, on the other hand, with the economy in the tank and everyone afraid to make a significant move, why not take the chance and let the Tea Party faction of the Republican Party put up or shut up.

Michelle Bachmann is the darling of the Tea Party movement, and promoting their agenda of austerity coupled with tax cuts, and enhanced business activity with plans like reenacted drilling rights for Big Oil.

She's talking about everything you've been promoting, except maybe the reinvigoration of intercontinental oil drilling. I don't know your stand on that.
We're definitely on a huge slide here; maybe 4 years of Bachmann is the cure.

('scuse me while I duck and cover)

http://caucuses.desmoinesregister.co...ttle-traction/

The sky is falling, the sky is falling.

Anything the government says is a lie. How do you tell its a lie, when they talk their lips move.

Cut the special interest tax breaks and there is enough money to pay off the debt and never touch entitilements.

Get rid of the bought and paid for politicans. Elect news one each and everytime there is an election. Voter enforced term limits.

Originally Posted by RichieLion

...maybe 4 years of Bachmann is the cure.

('scuse me while I duck and cover)....

I'm beginning to think that four years worth of anybody would be an improvement.

Actually, Bachmann's interview in the weekend edition of The Wall Street Journal a couple weeks ago was pretty impressive. She is one smart woman...far smarter and articulate than Sarah Palin in my opinion. Her major problem might be that for a woman as smart as she is, she sometimes makes some really stupid statements. But overall, she is probably better qualified than Rick Perry, as an example. I think if she could "tighten up" her platform and the delivery of a concise message, she'd have as good a chance as anyone in the GOP for 2012.

Don't get me wrong, Obama is going to be almost impossible to beat given the disorganization of the GOP and his 100-length lead in fund-raising. If the economy continues to improve, if he and Boehner can arrive at some plausible agreement on spending cuts, tax increases and the debt limit increase, and if we really can bring 30-40,000 troops home before the election, like I said he'll be impossible to beat.

Originally Posted by Figmo Bohica

...Cut the special interest tax breaks and there is enough money to pay off the debt and never touch entitilements....

That's not even close to being true Figmo. You really do need to do the arithmetic on how massive our deficit spending really is.

Originally Posted by Figmo Bohica

...Get rid of the bought and paid for politicans. Elect news one each and everytime there is an election. Voter enforced term limits....

I agree with you on these ideas 120%.

Originally Posted by Villages Kahuna

I'm beginning to think that four years worth of anybody would be an improvement.

Actually, Bachmann's interview in the weekend edition of The Wall Street Journal a couple weeks ago was pretty impressive. She is one smart woman...far smarter and articulate than Sarah Palin in my opinion. Her major problem might be that for a woman as smart as she is, she sometimes makes some really stupid statements. But overall, she is probably better qualified than Rick Perry, as an example. I think if she could "tighten up" her platform and the delivery of a concise message, she'd have as good a chance as anyone in the GOP for 2012.

Don't get me wrong, Obama is going to be almost impossible to beat given the disorganization of the GOP and his 100-length lead in fund-raising. If the economy continues to improve, if he and Boehner can arrive at some plausible agreement on spending cuts, tax increases and the debt limit increase, and if we really can bring 30-40,000 troops home before the election, like I said he'll be impossible to beat.

I soundly disagree with your assessment of Obama's invulnerability. That's just plain preposterous. He barely beats a "generic Republican" in the ABC News/Washington Post poll of less than 2 weeks ago. If the DNC isn't worried about that, they're pretty foolish.

I agree with you're alluding to an "October surprise" tactic as I've previously predicted. Next October would be a great time for him to pull massive numbers of troops out of Iraq and Afghanistan, as it might be too soon before the election for those countries to completely fall apart without our presence and ruin that political strategy.

Obama's biggest vulnerability will be the general Democrat's inability to take a huge war chest and stay on their message.

From the left point of view:

- They screwed up health care by eliminating the public option and totally missing the "soud bite" appeal of "Medicare For All"

- They 'mumble' when it comes to Afghnistan troop withdrawals.

- They caved to the GOP on extending the Bush tax cuts to those making over $250K

- They caved on gay marraige.

- They caved on finance reform.

- They caved on Wall Street regulation and almost caved on consumer protection laws.

For all their money, they can't seem to out-buy legislators who have already been sold to corporate money.