Friday News Roundup - Hour 1
http://thedianerehmshow.org/shows/2011-08-05/friday-news-roundup-hour-1
A panel of journalists joins Diane to talk about the week's top stories: President Obama signed a compromise debt ceiling deal; a partial shutdown of the FAA furloughed thousands of airport workers; and several top advisers departed from more than one Republican presidential campaign.
Guests
Ron Elving
Washington editor for NPR.
Julie Hirschfeld Davis
congressional correspondent, Bloomberg News.
Chris Cillizza
author of The Fix, a Washington Post politics blog, and managing editor of PostPolitics.com.
Related Video
A panel of journalists discusses what the debt ceiling debate really accomplished, and who they think will be on President Obama’s deficit super committee.
Comments
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We have a president that is believed to represent the poor and disadvantaged raising a record amount of money to the tune of one billion dollars for his reelection bid which he started a full two years before the 2012 election, which indicates that at least half of his time in office has been dedicated to personal gain. The people that support the president label the Tea Party as terrorists and many other demeaning names in an effort to destroy this grass roots movement that apparently seeks to preserve the sustainability of the United States and all of it's liberties for future generations. NPR is doing a great job in educating the populace unlike any other news organization as to the real underlying issues that confront us.
Having gone amidst your physical and virtual worlds
we find continued great examples- of bad examples.
Hoarding from your brother, cheating on your sister, and hoarding your sister whilst cheating with your brother the least of law breakings.
IAW theological contracts willfully entered humen are here by found lacking in all.
Now have sixty days local sun third planet time(lS3PT) to vacate or begin using the powers bestowed for all or clause for none will be executed...
Final appeal dead line at that time line(with judges approval). Crucifications to commence immediately thereafter.
Bankers, lobbyists, lawyers and politicians(but we repeat ourselves) will of course be shown to the limbo area to await processing of their paperwork(ETA- eternity...)
Well substitute with foreclosure, and loss of home, possessions, and our health... that is our week- how was yours?
Felt so horrible MANipUlATing 'real' investments take a beating on markets. Whoever could suspect they were so connected to society- that cannot be good for ROI and confidence.
Really great watching Congress and private businesses standing up for 'their' concerns(the elete select(dumb luck) need their vacation to deal with stress of 'remedying' the useles- er- poor obsoletes and completing 'fix' of government. 0ops 'our' concerns. You may fix that in editing.
Apologies for not paying for utility bills, mortgage, fruit, vegetables, ER visits, taxes on gas, alcohol, tobacco, okay ALL taxes but that bought with foodstamps(1lb pasta and can tomatoes- and whatever the last dollar can purchase).
Reuplacintea party correct. NOT paying taxes very liberalizing. Er- lieberating. Can feel the liebenstraum- or am passing out again.
Never FEAR, super CONGRESS here(does MORE with less- almost everything with nothing- so they say- size reduced AND cost increased for YOUR convenience- just like you wanted. CAreful for subliminal meSSages... you are being watched.
And keep a good attitude otherwise IT spoils the meat.
We will promote to better life anyone uncovering CemI-secret messAges(preparing for 'safe' inet).
We are watching the CONTROLLED DEMOLITION of The World Economy and the Oligarchs are the ones who LIT THE FUSE.
ASK YOURSELF.
Who started the worldwide financial collapse in 2007?
Who talked all of these countries in the western world into investing in worthless securities?
Who got bailed out by the central Banks all over the world?
When everything fell apart, who advised these same governments including United States that they needed to implement austerity measures on their middle class?
Who created the Chaos?
ANSWER: THE OLIGARCHS AND THEIR MINIONS !!!!!!!!
Why would they create the Chaos?
ANSWER: BECAUSE IN CHAOS THEY CAN STEAL.
Remember my fellow peons,
!!!!! SOYLENT GREEN IS PEOPLE. !!!!!
I do believe this tea party inspired debt debate hurt the image of the U.S. I also think that the world sees the failure of the U.S. to do anything serious about not only the debt but more importantly the failure to do anything about job growth in the future really concerns much of the world.
Neither the Keynesian economic based stimulus spending nor the free money policy of the fed has gotten the American public back to work. We have to accept that this is not only a recession, but a restructuring of the economy. The one company careers and manufacturing jobs simply aren't there anymore.
We are out of the recession, but not growing enough to bring back those jobs. So which jobs sector are we going to see the growth necessary to bring down that unemployment number?
-Cameron
Does the FAA reauthorization include the reinstatement of taxes on airline tickets?
It is my understanding that the federal government is losing $30 million a day with an estimate of $1 billion if the taxes are not reinstated until September.
Apparently some of the airlines did not lower the price of tickets when the authority to collect those taxes expired. Therefore, the airlines collected the amount that should have gone to the federal government.
Talia
Somerville MA
I agree with the comment about the Senate appointing the gang of six, although I think it's clear that won't occur. We have congressional leaders who have publicly declared their number one goal is to ensure the failure of President Obama. Apparently they have forgotten WE elected him to office. He was the choice of We The People. These rigid idealogues aim to complete their mission no matter the price to the country they claim to love and they are paid to serve. Why? It is to weep.
I agree with the comment about the Senate appointing the gang of six, although I think it's clear that won't occur. We have congressional leaders who have publicly declared their number one goal is to ensure the failure of President Obama. Apparently they have forgotten WE elected him to office. He was the choice of We The People. These rigid idealogues aim to complete their mission no matter the price to the country they claim to love and they are paid to serve. Why? It is to weep.
Where is Karl Rove. The ongoing debacle has used his weapon of choice - one issue, divide and conquer.
Got what "we" want??? There is no hope for a balanced budget. The debt ceiling was raised. There's no hope of our being able to pay for all the things the government does now. We have not gotten what we want.
This discussion on the debt, budget, jobs....I hardly hear President Obama's name being brought up at all by Diane or any of the panelists. He apparently has no power.
One of Dianne's guests said "not even liberal Democrats think there will be another stimulus". That statement makes no logical sense, unless you misread it slightly to mean that there is now a political consensus against another stimulus.
I think this is a modern technique of lying-without-actually-lying: saying something that is literally true, in a very narrow sense, but that is deliberately constructed to leave a false impression. I hear this kind of thing a lot in right-wing media, but I find it disturbing to hear it on Dianne's show.
This is in response to Barbar O
I have heard some congressional leaders say that re-electing Obama to the presidency is THEIR goal. How is that different from saying one wants to elect someone else? Would you have said that Bush was the choice of We The People?
The super committee that will try to come up with a debt deal should have had one of the "no deal" consequences be tax increases not just automatic spending cuts. I don't think the tea party will be motivated by cuts in defense spending as their penalty. I don't think these people necessarily care about maintaining a big expensive defense to keep the US as policeman of the world!!
camtron wrote: "Neither the Keynesian economic based stimulus spending nor the free money policy of the fed has gotten the American public back to work."
There was no Keynesian stimulus. The small increase in federal spending was offset by decreases in state and local government spending.
It did not fail, because it was never tried.
I am dismayed at the very concept that the 90 per cent of the population we be funding the tax benefits to the to remainder. Dithering about a problem that was created in the Bush era by the GOP majority, especially big tax breaks for the affluent. Rich get richer, the working middle class is losing its middle, and the poor are never at the table.
Your guests misunderstand what a balanced budget is, which is what the Republicans are counting on with their false balanced budget discussion. Actually the US Government has a balanced budget in that it always takes in equal amounts to what it spends which it can always do by borrowing. Generally states that have balanced budgets do the same thing by separating their capitol and operating budgets. The states take on lots of debt in the form of bonds for capitol expenditures. Since the federal government does not make the same difference between capitol and operating budgets, we call any borrowing deficit spending.
And this is even forgetting the assets versus liabilities issue which for the federal government has a huge surplus, which is why lenders are so happy to buy treasury bonds.
So a bigger issue is should we have a separate capitol budget that allows for bonds or do we want to actually want the federal government debt. Note that the wealthy use government debt as a larger profit/investment vehicle.
Please do a better job of understanding the real issues.
Daniel Bennett
Washington, DC
Diane,
What would have President Franklin Roosevelt have done after the simultaneous events of Pearl Harbor and Hitler's declaration of war, if he had a "balanced budget" amendment holding back his ability to act in the in interests of national defense and mobilize a war effort?
I hope that the media doesn't jump on the Tea Party band wagon, as they did with the debt ceiling, without helping to educate the public on the dangers of a balanced budget. The country should not be run like a business.
--
Tracy
Grand Rapids, MI
Unexplored issue: Republicans are in favor of government debt
It was not an accident that the Bush administration moved the surpluses to deficits. There was a good chance that the US government was going to pay back all debts and then the bond market would have been shrunk too much. Government debt is a subsidy for the wealthy, as a tax cut for the wealthy during deficits mean that the wealthy get to lend money to government that they might otherwise owe in taxes. Then they get back the principal, interest and a solid AAA investment to hedge more risky investing.
And this is the reason that even now the Republicans insist on cuts that hit working people, but does not actually end government debt. This is a transfer of wealth from social insurance programs to the wealthy.
Daniel Bennett
Washington, DC
Follow up to jobs and small businesses -- If a small business owner is creating jobs, aren't the expenses used to hire and pay an employee tax deductible? Therefore, if you are hiring, then you are not taxed. Also, it seems that the decision to hire is based on the outlook of the local economy and whether growth is justified, not whether one is being taxed or not. If there is a chance to grow, then it seems like a business owner would take it.
With respect to small business which pays its taxes on individual tax returns as S-corporations, the affect of increased taxes is to reduce the principal we have available to pay for and leverage new equipment and investment. That activity usually preceeds new hiring. It would not be possible for our business to show a direct link of lower taxes to hiring. Rather, we save our principal, which is left after taxes, to continue to improve and expand our business. The hiring follows slowly as we grow and become econimcally secure. What we do not do is spend or "consume" the money that would be taken by increased taxes. We invest it.
Respectfully,
Vi Wysong
I would vote for a balanced amendment if they forbid useing the SS fund, Medicare , gas tax, and UI funds for balancing the budget. They should also pay back the trilions of dollars that they stole from the SS fund over the years to fund their over spending. these programs should have thier own balanced budget.
That's a Groucho Marx quote; NOT Woody Allen.
I am no economic genius. However, has anyone ever introduced a stimulus solution that involves Big Big Big Business donating $ to create a fund to be used exclusively for creating projects (such as roads, bridges, school improvement) that will create jobs in times such as these? These "donations" to the BBBB bail out fund could be tax deductible of course!
Karen from Chesapeake, VA
The quote about never joining a club that would have him for a member was Groucho Marx's -- not Woody Allen.
I have no problem with the tea party and most of their stated goal. BUT, I do have a problem with is thier principle backers and thier goals. It would be nice if had complete published trancparency as to is contributing every penny to every person, organization that is invloved in politics. whether it is just to air ads or contribute to a canidate, etc. EVERYTHING. until we have that we do will not have a democracy. OH yes. publish all the lunchs, dinners, junckets for all legislators. By publish I mean in our newspapers as a public service.
not John Adams, but it is a good line
http://goo.gl/wtsYx
Ms. Diane Rehm and producers:
I would recommend have an expert explain basic things like what a balanced budget for the federal government means. For example, states have "balanced budgets" which is very different than what it means for federal government. States issue debt for capitol projects and maintain an even budget for operating and debt repayment. Since the federal government does not make the same distinction, speaking of balanced budgets does not mean the same thing. This disparity allows Republicans to make false arguments that seem to not be argued against, in part of a lack of basic education.
The federal government balances its budget every year by borrowing money rather than just printing money or going into default. But since the borrowing is not broken into capitol versus operating numbers, we instead refer to deficit versus surplus budgets. We could move to a similar system on a federal level, but that is a completely different issue and the federal government, like states would have lots of government debt.
Note that government debt is a big profit vehicle for investors. Also not an issue brought up by Republicans, but it is a reason that the Bush administration pushed for deficit spending to avoid the treasury market to disappear (http://www.mythtakenpolitics.org/2011/07/six-of-the-reasons-republicans-...
Please spend some time helping explain these basic understanding of issues. It may improve the quality of the discussion.
Daniel Bennett
Washington, DC
citizencontact wrote:
"This disparity allows Republicans to make false arguments that seem to not be argued against, in part of a lack of basic education."
Hey daniel,
If your complaint is that you lack basic education, then let me make it simple for you. When you spend more than you take in, that's a budget deficit. When you spend less than you take in, that's a budget surplus. When you spend exactly what you take in, that's a balanced budget, or, more exactly, if your anticipated expenditures match your anticipated income, you have a balanced budget. When you run a budget deficit, it adds to your debt. Your debt is carried forward month to month, quarter to quarter, year to year. Budgets are not. You get a new one every period.
It's not that difficult and the rest is noise.