The most asked-after item from last night's show is this chart showing the ratio of cuts to tax revenue in past deficit deals.
It's based in part on this one from early July from Jared Bernstein. His chart is focused on specific bills. Ezra Klein made a similar one at the time time, but grouped the data by president. He includes the expectation at the time that revenue would make up 17% of the debt deal signed into law today. As Chris pointed out last night, that number is actually zero. Our chart adds in a couple of iterations of the debt deal, including President Obama's initial pitch and an early plan from Republicans.
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I've consulted my Teaparty Translator: Well, if you want to empty the bathtub, you open the drain. You don't turn on the tap. Duh!
I consulted my political crystal ball:
...and correctly predicted the outcome 2 weeks prior.
We need to go back to the top Tax Rate of 90% until we pay down the deficit.
This is what we did to pay of the cost of WWII debts.
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213
I'm forming a new party to promote this idea. It will be called the REA Party.
This stands for Rich Enough Already!
Tax the Rich and maybe they will leave the country.
I know that your post is said in jest (at least I believe it is) HOWEVER......
If the Dems & Independents don't have the strength or will to defeat the Tea Party malfeasance perhaps it will take the rise of a new party to challenge, defeat and, subsequently, reinstate a honorable government of the people by the people and for the people.
The proposal for the Tax Rate is dead serious. The top 1% owned 10% of the wealth 40 years ago they now own 20%. They are rich enough already!
As far as the REA, well I'll lead if someone will follow.
My real point is that we need to get this idea out there. It sounds so over the top but only because not many voices speak it.
The right has spent millions of dollars pounding its ideas into the conscious and unconscious minds of the American people.
I don't have millions of dollars but I have a voice and you have a voice and so do all the other people on the internet. We heard the story of Horton the other day.
President Obama asked people to call about the Debt deal and I did. I think is time that we spoke with our own voice and tell our own message.
So who on the Web speaks for us? What voice is leading that speaks to you?
all this distraction about the debt ceiling, etc., with the corporate government, makes you kind of wonder what's really going on? who's hiding what and why? because so far this one world global creation is not working for anybody but the excessively rich, while everyone else is starting to die of starvation.
Actually, Pat, the top 1% controls more than twice your figure, at more than 40% of all the wealth in America:
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
Worse, they tend to shelter this money off-shore, and vote loop-holes for themselves so they don't pay the taxes they're actually supposed to. We need a tax code that allows for no loopholes or deductions of any kind, and which taxes money before you're allowed to do anything with it. After you pay your share, send your money anywhere you want, but until then, it stays in this country and works for us!
My problem isn't how rich they are. My problem is how rich they got while everyone else stayed the same. There is only one way to explain that. It was because they got sweet tax breaks while the rest of us didn't.
The richer the wealthy get the more money they spend on manipulating politicians to get even more power.
Now it is OK for politicians to go to boot camps funded by corporations who teach them talking points and hand them prepared legislation. It is not by accident that the GOP controlled states all have remarkably similar similar legislation.
http://www.bloomberg.com/news/2011-07-21/koch-exxon-mobil-among-corporations-helping-write-state-laws.html
These incredibly arrogant gluttons do not even try to hide what they are doing anymore.
This country was founded on the idea that the majority rules. That was how we got rid of the idea that Kings should rule by right of inheritance. Now the Kings of money have decided that they need to rule our country.
If they want use their money to take over the country then we need to take our country back by taking back our money. Make no mistake the riches of these people came from the sweat of the common worker.
The wealth created in this country the last forty years was from worker productivity gains. Why did it all go to the people who didn't create it?
Thank you. I quite agree and so many Americans refuse to discuss the issues. Listen, I don't understand all the particulars but I know a lie when I smell it and this stuff stinks. I'll join a new party, but I'd rather chat over coffee.
I get this scary feeling that the "issues" are not the real conversation for some very powerful people. It's no longer about "family values," or "debt ceiling," or "democratic principles", although none of these "problems" have gone away from the perspective of those who have raised them over the past 15 years. So I watch/hear the issues come and go, but the chaos and polarization continue to increase all around us. The only societal elements that grow more consolidated and organized are wealth & finance, communication media, transportation providers, medical care, personal identity technology, and employer discretion. Far-right broadcasters now warn their consumers that violent uprisings by minorities and aliens are imminent, necessitating total armament for home defense. It seems that minorities are even being baited into a fight they cannot win, in some cases.
Does anyone else sense that the unspoken objective of the Unseen Hand (wish to all heaven that I knew who or what this might be), now garbed in an "anti-socialist" banner, is to simultaneously destroy the economic, social, and political fabric of the United States of America while the rest of us try to "fix" the distracting problems created for us to address without adequate remedial power?
Is anyone else ready to recognize some sort of dire civil danger here? Should we start calling deceitful speech what it is and demand better accountability of ourselves along with our representatives?
Soooo, besides no revenue help from the billionaires, the immediate takeaway is...
We've tied our hands from being able to create jobs? unless the Repubs are willing to cooperate? News Flash! Congressional Republicans don't want an overall increase in American jobs!
A slower death... wellllll, THAT'S just FREAKin' MAHHH-VA-LESS!
When does the therapy circle discussion with the Repubs happen again? I want a seat, or all of them.
The only way jobs will get created now is if it doesn't cost anything. We know damn well there will be no stimulus - no money put into the creation of anything. Oh, wait I forgot - the millionaires & billionaires will create lots of jobs now that they know they won't be facing any tax increases!
I seen on Hardball that this new deal has a filibuster clause on any tax increase but nothing on spending cuts.Dems just keep digging a deeper hole for them and us.Have you ever seen a golden boy quarter back who thinks nobody can take his place even when hes doing a bad job?So the back up comes in and does a great job.When the golden boy goes back in he tries 100%harder.Well thats why I think Obama needs an opponent in a primary, if he wants to be reelected maybe he will grow a set of balls and try a little harder.
Oh they want to convince us that revenues are going to be on the table in the second part of this deal. Sadly I found out that any revenue increases proposed by the Super Senate Committee will be subject to Senate filibusters. However any spending cuts proposed by the committee will not be subject to filibusters. So this fair balanced legislation pretty much says one side gets all the advantages in the negotiations to come and the other just has to bend over and take it.
And then I hear that the fairytale that revenues will simply be picked up by allowing the bush tax cuts to expire. Warning Warning... We have all seen what republicans are willing to do to get what they want. hide your babies people. I can already see Eric Cantor and Paul Ryan helping the tea partier congress to haul the bags of innocent babies to the edge of a cliff, threatening to start hurling them over one by one. Meanwhile Boehner stands before the News outlets asking why it is that Democrats hate babies so much that they would allow such a travesty to take place. "All they have to do is extend the Bush tax cuts. It is for their own good. It will create jobs. None of this would be necessary if you guys would just admit that we are the only ones who have good ideas."
Granted my analogy seems extreme, but honestly I just don't know anymore.
I wish it seemed extreme. It doesn't. This is basically what they've been doing. And they've promised more of the same, in exactly those words.
Thanks. Totally agree. So, what can we do, really?
where's bush?
In the forest he couldn't see.
I am so voting for your party! REA!!! I sure as hell ain't gonna vote for CYA Obama.
And, Kelly ... Dems need to retire en masse, surrender government to Tea Partyers, and rethink what's left to fight for. They talk, and give so often that they bought into a one-term President concerned only with his own future.
Sick, but too poor to consult a physician.
Sorry pal, we should Physcally SINK the Teabaggers.... they created this 'lets bring the country to its knees' by passing legislation in January to tie debt ceiling to full house vote. They created this crap we just went through. You are mis-guided.
Agree in spades. Tea Party, come on now. Any fifth grader is smarter and more just. These cats get it only for themselves and they are messing that up and don't realize it.
Why is GW Bush not represented. I want a full story.
Um, right now its probably going to be some random republican or Obama. Just think how much worse this would be if it was President Bachmann or President Perry in the white house. Scarey
I don't think so. I actually think the economy would get better. Almost immediately I bet. WHY? Because big business would have a profit friendly President sitting in the White House. Right now its all about getting rid of Obama. They could care less about you and I.
We are so institutionalized to believe we need all the luxuries they provide. We need a microwave. We need a laptop. We need 20 pairs of shoes. We need cable, internet and cell phones. Point being, they know they can destroy the economy because they KNOW we need their luxuries. And we will keep buying it no matter what.
You guys want JOBS?! Stop buying luxuries then. Just buy necessities. Save your money. If we decrease demand then they will try to increase demand. The only way to do that is increase the amount of people able and willing to buy their products. That is basically what Clinton did. He cut into their profit. The only way to get that profit back was to increase the amount of people able and willing to buy their products. That turned into 22 million jobs.
Yes, all gays and those who are different will be running for our lives. That's when I wish a gay child would come out of their family's closet. Boo.
I suggest Mr. President should schedule the signing ceremony at 11:45 p.m. tonight and be fashionably late by at least 20 minutes so he can date the document 8/4/2011. Just to show the republican showboaters that he can play games with the economy too. It won't be more than a Pyrric victory, but since it will all happen before the market opens, it will show that he is quite wise to republican timing, and besides. It will be his Birthday Present to all of us. Happy birthday.
We'll be waiting at Hickham with oodles of leis whenever you can get home for your Birthday luau.
Better yet, sign it on Air Force One at Hawaii Standard time at the Stroke of Midnight
Mahalo nui loa for demonstrating True Aloha and Hawaiian Spirit. When you have time you can tell the rest of the world the meaning of Ohana Mediation.......
So if I, or any member of my family were elected to office, our childhood friends would be coming out in droves and letting it be known they knew us when. Where are all the childhood friends? Scared yet? I am.
The chart must have been made by a sports player. It goes to 120%.
We might be over thinking this.
Maybe the charitable fairy will come over our christians only country and sprinkle us with freshly minted dollar coin dusties.
Or the rich people aka "job Creators" need more servants, thus more jobs will open up.
Maybe it's time for a third party system. Oh wait we have the Tea party already...
Maybe we all move to Canada and enjoy government run states. Run by real politicians.
I was going to suggest England, but they hack phones and we tried it once before. It was kinda crazy with religious freaks running a mock.
Hmmm let's sit and wait some more. What happend to hope and change?
Just frustrating isn't it?
This is what happens when people ignore politicians. The bad ones can get elected also and shi* like this happens.
I am voting for Robert Kardashian for president, he pretty, he popular and in his knowledge of politics is close to nothing. He is perfect!!! -Plus his mommie will manage things for a small 10% comish. A bargain!!!
People keep saying how much worse it would be with Bachmann or Perry or Cain. Just how much worse? I know things can always get worse, but at this point, having given away all the goods in the store, people are worried about the doorknob on the front door? It is time for a third party. Obama's fiscal policies are positively Nixonian.
Teaparty? There is no such thing as the Teaparty. Oh you mean the Koch Party. Now when you see these guys agenda you understand what is going on. How are so many people falling for this?
You're so right Mark. Also, it makes me crazy to hear anyone, esp pundits, refer to them as grassroots.
I'm beginning to think that it is no longer true that the left are giving in without getting what they want. I think the left we have elected are getting what they want and that those of us that elected them are the ones not getting what we want. I believe we've been duped. I'm moving to Vermont at least I can vote for someone on the actual left, not the left side of right.
Bernie Sanders for King!
Total and complete EPIC FAIL. I've never seen a party that can take what should be a position of strength and turn it to weakness. Handily snatching defeat from the jaws of victory. This should have been a cake walk. Let them shut it down and let the Repubs pay the political price. The Bush Tax Cuts should have been gone in the spring. The President I voted for has been the biggest disappointment of my life. The Dems had a super majority and wasted it. I'm surprised they can tie their own shoes in the morning.
There are only 2 possible explanations... the Dems are that weak and stupid, or their colluding with the Repubs. I'm not really sure which bothers me more.
Well first off when the democrats held a majority they were limited by one major factor. The minority republicans had found a way to have minority rule. They simply abused the filibuster. There were numerous good bills that passed Nancy Pelosi's house that went to die in the Senate. There are still tons of cabinet nominations that Obama has made all being held up by filibusters. I do agree they should have fought harder, but what can you do when the opposing party can put a stop to anything you try to accomplish, and not only that the person who filibusters can remain anonymous.
I do believe I saw i all summed up well on an episode of Late Night with Bill Maher though. "One party has no brains, the other has no balls." Can you guess which is which?
That vote is a vivid example of how our free market system does not work. A vivid example of how politics do not work for the people. For over 60 years this country's policies have been designed by our elected officials to protect wealth. This is shown by the results. The result is that only a top 1-10% of the population in this country is controlling 90% of the wealth. They have done this by the policies of minimum wages which have been so low, not one person has been able to survive even when the cost of living was cheap. Then, by changing the laws of patents, which allowed employers to own anything you designed or invented under their employment. And now, the borrowing money from Social Security and taking money from our taxes to GIVE IT TO CORPORATIONS to move away without asking for some profit sharing. At least they should have made the government a share holder in that adventure. They did not take responsibility for creating unemployment which now will not be able to continue collecting their benefits.
We have to choices, we either admit that this form of government is not working for the American people or we have to admit that the 90 - 99% of the population has not been smart enough to create wealth. And yet this country used to be the manufacturing capital of the world. So, we know we are smart. It must be the type of government.
What this government has done Democrats and Republicans is keeping us busy watching them dance the political dance. And then they say, that is OK it will not go in effect until 2013. They will be gone but those affected will be fudged.
And yet nothing is ever done...What does that say?
It says we're a bunch of freakin' psychotics doing the same thing over and over, expecting different results!
I am speaking strictly for myself here, because it seems that nobody else shares my views, people get mad at me when I mention this! I think I am a Democrat?!? I voted for Obama because I wanted change, yeah, haha!!! Jokes on me I know... But the only thing I have seen him do time and time again, is exactly what the Richpublicans have told him he's going to do!!! This guy needs to grow a spine!! He is supposed to be the most powerful man in the world. He can veto anything they say and put forth a better plan! He CAN "MAKE" The House and The Senate "do it right" for the American People, if he wants to. But for some reason, this guy Obama, he doesn't want to "rock the boat" I can't figure him out. He says the right things, It sounds great!!! But when it comes to delivering... Obama, Sir, I'm sorry, you have just let us all down. When you start delivering to the American people, I will take this all back. Until then, well I made a poor choice!
The people get the government they deserve. When the people permit themselves to listen to BS and emotional cullture war arguments they are not educated adaquately when they get to the polls. The middle class Americans who have voted Republican the last 30 years are Chickens voting for Col. Sanders.
I don't "deserve" this! I didn't vote for this! Right now, I feel impotent rage over what's happening in my country. What ever happened to majority rule? How have we LET this happen?
I didn't vote for Reagan. I didn't vote for Bushes, sr, or jr. I didn't vote for Obama until he won the primary. Then I voted for him because I just couldn't vote for Grandpa and Caribou Smarmy.
I didn't vote for this, and I resent you saying I deserve it!
AMEN!!
I remember feeling exactly that way....
The next year must be about education the average American in understanding the the business sector is indeed thriving. They don't need any more tax cuts or regulation slashing. The upper class is awash in cash. But, the average American believes that all taxes are too high. So, let's help correct the big Republican lies which are causing the average Joe to vote against his own interests. His college tuition is skyrocketing, his health care costs are skyrocketing, and his job is at risk for outsourcing. Let's convince the average Joe that it doesn't make sense to vote in any more Republicans.
Thanks.
Amen to you, but education is exactly the problem. The average Joe hears "tax increase" and they lose their mind. That's the platform that the first batch of these Tea Party extremists ran on, and that's how they got in. People have to begin looking at what they know when they go out to vote. Everyone needs to take a couple of minutes to actually look at what they're voting for before they go out and actually vote.
I don't think we can re-educate the public before the next election. You can call it culture war but we need a full out assault on the wealthy who have hijacted our society.
They have spent years educating the public that government is bad and taxes are bad. It took billions of dollars and decades to do that.
We can look at how the Tea Party was whipped up out off whole cloth by using populist anger against the status quo. Our villain in the story is the Wealthy
We need to show how the wealthy have redirected this nations wealth into their pockets exclusively.
The Wealthy owned 10% of the nations wealth 40 years ago, they now own 20%. They increased that share by taking all the gains that were made from worker productivity.
That is the pitch, the wealthy took all the gains in the last generation and now they want more and are coming for your social security and medicare.
Not only is it a good pitch, it also happens to be true.
"The more I have, the more I have to have more."
Obviously, the point being missed is the tax increases are off the table, UNTIL, this President is out of office, then the rules change again.
Only problem with that is if the next President is a Tea Party candidate.
Oh, and Mitch McConnel says he wants to do this EVERY SINGLE TIME that a President needs to raise the debt ceiling...meaning a bill to taxpayers of over $18 million and a bill that will de-rail the economy. Nice job.
You know, I'm really starting to wonder how much longer this country is going to be able to support itself. Do you all see what the Tea Party is capable of now? This is getting scary. And it's even scarier to see that there are people willing to stand and cheer for these people. It's practically impossible to spend any money right now, looking at the prospects for the economy now. All we heard was compromise, compromise, compromise...then John Boehner comes on CBS and says "Oh, I got 98% of what I wanted...I'm pretty happy." He and his party hijacked the economy and now he's laughing about it! The state of Kentucky ELECTED this man, for God's sake! Corporate profits are going to break records, but there are no jobs. Whose side do you think these "political terrorists" are on? What you saw these past two weeks wasn't a "debt ceiling" crisis...it was an attempt to completely discredit and damage the Democratic party...and you know what? They just might have succeeded.
9.6% percent unemployment is unprecedented, but in about four or five months, that figure will probably look good.
It's time to wake up, people. To everyone who is the same age as me (25), for everyone who is trying to put themselves through college, for anyone who doesn't plan to leave this country anytime soon, from anyone who wants to have a decent life ten years from now...we need to get rid of these people. Strip these extremists of their power in 2012 and get rid of them all!
Wisconsin, go kick those psycho's out of your state senate next week! Way to go on exercising your political rights! And hopefully this will show Michigan and Ohio that people can stand up for themselves and these fat cats can't just do whatever they want.
Throw the lunatics out of Wisconsin and Michigan that are trying to destroy the middle class in their states! Get rid of everyone in the House of Representatives that is willing to drive our economy over the edge of a cliff to get what they want! The middle class is the majority. If we can't unite and run these people out of Washington, then the next time they attempt to strip the nation of it's economic stability, we've got no one to blame but ourselves.
Somehow, these political extremists convinced us to elect them (yes, US...Representatives don't get elected by electoral college...we did this as a whole) and, over the past few weeks, they sure have done a good job of convincing us to tell them to "Get the hell out of Washington!" Get out and vote and get rid of these people! Tell the corporate masochists that they can take their record profits and "stick 'em you know where"!
What the heck, lets vote in all teabaggers, lets just blow it the heck up and get it over and done with and then let the 2nd revolution begin. I don't understand how hard people have to be pounded into the ground before they realize the deck is stacked against them, not for them. Maybe when no one can afford food anymore, can see a doctor, can breathe or drink water, maybe when there are no jobs, no trash pick up, nothing but at all, maybe they will wake up. I'm tired of this slow death, just bring it already.
That future might be closer than you think...the spending cuts the President who "promised" us all change signed today will net a loss of almost 1.3 million jobs and our GDP falling to -0.2%.
Wonder why there wasn't some big signing ceremony today when Obama signed that bill? Everyone who voted yes to that bill was too busy celebrating the destruction of our recovery, and everyone who voted no was too embarrassed to watch that death certificate become law.
Major issues.....3
GOP/Tea-Tards....3
Dems.....Freakin "0"
We need leadership and backbone!
He demonstrates in case after case that we REALLY need to dump Obama!!!
Who He? Sure let's dump the Dems, then They can do whatever they want to the rest of us. This is the most Amoral piece of legislation I have every heard. Why should they care about any person who can't afford health care, can't get a job, or an education? If people aren't educated they won't know how badly they are being screwed by the people they elected.
Hopefully my reply goes in the correct location this time...
dcn4312, you have it exactly - divide, distract and dumb down the masses. Big picture strategy going on. Evil, twisted, and sick.