Moron of the week award goes to Senator Tom Coburn
“It doesn’t really matter what happens at the end of this year because ultimately the numbers and the bond holders throughout the world will determine what we’ll spend and what we won’t. So, we can play the political game that is being played out in Washington right now or we can be absolutely honest with the American people and say, ‘Medicare is going bankrupt, Social Security disability will be bankrupt in two years, Social Security trust fund will be bankrupt in five years, Social Security total will be bankrupt in 16,17 years.’”
“The fact is we are spending money we don’t have on things we don’t absolutely need,” he concluded. “And there’s no grownups in Washington that will say, ‘Timeout, stop the politics, let’s have a compromise rather than play the game through the press and hurt the country.’ We’re already going to get another debt downgrade just from what’s happening now because nobody in positions of power are willing to do what’s important and necessary for our country.”
3 comments:
just raise tax rates to what they were when eisenhower was pres. fuckem, quit the bullshit games
Guys like Coburn are complete morons, along with most of the mainstream economic establishment. They stare right in the face of a blatant and audacious reality that is calling bullshit to their ideas and warnings and they act as if it's not happening. And we hand them the levers of our own destiny? Are we mad??
Yet another reason why I dislike the current institutional set up because the politicians have way too much control yet are not qualified in making proper decisions within the monetary framework.
There is nothing inherently evil about this monetary system, as it can be a force for incredible good in the world. That said, with such individuals in charge, it can inflict undue harm on those that would otherwise thrive had it not been for horrible policy making.
Who will hold these current politicians responsible when the fiscal contraction leads to recession and pain for many?
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