The stupidity of Congress at times is overwhelming

Comments: 10

Josie P Jan 7, 2011, 11:53am UTC

To bad it's not congress who gets stuck with the bill it's us.

Robert H. Jan 7, 2011, 12:01pm UTC

They have to blame someone otherwise they would have to take responsibility and do something.

It is really fun to watch the Republicans already backtracking on spending cuts. The way they are twisting around themselves to try and weasel their way out of the promises they made would make a yoga teacher proud.

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Elsie C. Jan 7, 2011, 12:34pm UTC

I keep wondering when Boehner and Co. will come to the realization that cutting taxes was a bad idea. What pays the bills? Why, tax money, of course. You still have to pay the rent and the rest of the basics.

Robert H. Jan 7, 2011, 1:28pm UTC

They will never admit that cutting taxes is a bad idea - it is a core belief of the Republican Party. Republicans are really horrible at managing money - they cut revenue while increasing expenses - can you imagine running a household they run government? If you want to spend more money and you don't have it you need to get another job and make more money - not put it on a credit card.

The fiction is that Republicans always talk about cutting spending but never do and they never will because they know full well that as soon as they start swinging the axe there are voters, including Conservative Republicans, who will get mad about their favorite government program being slashed and will vote for someone else the next time.

Of course they told us from 2000 to 2006 that Deficits Don't Matter and only had a problem with Deficits once they were out of power - but now that they are back in power I suspect that in short order Deficits - once again - won't really matter to them.

Char H. Jan 7, 2011, 2:12pm UTC

The congress has zero control over the fed printing money. Quantitative easing...Surely you have all heard of that. It is the nickname for inflation injection.

Richard B. Jan 7, 2011, 2:23pm UTC

then why is the value of the USA Dollar increasing in value?

That's called deflation and is the opposite of inflation.

Char H. Jan 7, 2011, 2:59pm UTC

It's a reaction to hopes in the newly installed Republicans. I was reading last night about food riots in various countries, they cannot afford to buy food. When the world currency is inflated, it hurts everybody. There are many calls to remove the dollar. I read one post, which is probably not true, but goes to show the mindset. It said that March was already chosen to declare a new currency.

Richard B. Jan 7, 2011, 5:14pm UTC

Well let’s just say that in Japan the Yen is the standard for the deflation of a currency and has been for over the last twenty or more years. Thus if the USA Dollar is the currency of choice for the investors in the Carry Trade in the future, then the same will be true of it. If so then the value of the USA Dollar will rise in value not fall in value. And as we are seeing the decline in the Euro as a favored currency then the Yen and the USA Dollar will be the choice in that carry trade for the investors which will tend to raise the value of the USA Dollar, thus dropping the prices of everything priced in USA Dollars.
That is also what happened in 2007 thus breaking the back of the housing market and in 2008 the primary cause of the failure of the investment banks that went under.

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"2016 " Jan 8, 2011, 1:02am UTC

I get flustered with the purchase of 2443 F35 Fighter Jets all this after having LIED to public we are in an allege economic crisis, then how did US GOVERNMENT PAY THE $9 Billion price tag for the crafts, notwithstanding the maintenance costs, on top of that?
Lockheed Martin F-35 Lightning II -...
Total development costs are estimated at more than US$40 billion (underwritten largely by the United States),

Richard B. Jan 8, 2011, 6:46am UTC

When Gates was asked how many contractors and sub-contractors are employed by the Defense Department, his answer was I have no idea at all.

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The stupidity of Congress at times is overwhelming

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