with four trillion in spending cuts.done DEAL

[bimetalaupt]

WILL ALL THE HEAVY LIFTING DONE LETS PUT IT TO BED AND CREATE WEALTH THE OLD FASHION WAY.. WORK HARD AND SMART..OR AMERICA WILL BE VOTING IN A NEW PERSON TO CORRECT YOUR MISTAKES . .

JUST A THOUGHT ON POLITICS AND AND MARKETS..
WATCH GOLD FOR BLACK SWANS NEAR TODAY!!!.
. AND THE WINE MARKET FOR THE WHITE SWANS OF GERMANY...

BI Metal Au Pt
+
one for the record.. do it today and you will have made the Billion in Capital Gain taxes by noon Monday.. No Short term.. that would be real income !!

[bimetalaupt]

Done DEAL!! We have keep our A+++ or AAA now for the heavy lifting to save our Grandchildren..

WASHINGTON (AP) — Ending a perilous stalemate, President Barack Obama and congressional leaders announced historic agreement Sunday night on emergency legislation to avert the nation's first-ever financial default.

The dramatic resolution lifted a cloud that had threatened the still-fragile economic recovery at home — and it instantly powered a rise in financial markets overseas.

The agreement would slice at least $2.4 trillion from federal spending over a decade, a steep price for many Democrats, too little for many Republicans. The Treasury's authority to borrow would be extended beyond the 2012 elections, a key objective for Obama, though the president had to give up his insistence on raising taxes on wealthy Americans to reduce deficits.

The deal, with scant time remaining before Tuesday's debt-limit deadline for paying government bills, "will allow us to avoid default and end the crisis that Washington imposed on the rest of America," the president said in an announcement at the White House.

Default "would have had a devastating effect on our economy," he said.

House Speaker John Boehner telephoned Obama at mid-evening to say the agreement had been struck, then immediately began pitching the deal to his fractious rank and file.

"It isn't the greatest deal in the world, but it shows how much we've changed the terms of the debate in this town," he said on a conference call, according to GOP officials. He added the agreement was "all spending cuts. The White House bid to raise taxes has been shut down."

The House Democratic leader, Rep. Nancy Pelosi, was non-committal. "I look forward to reviewing the legislation with my caucus to see what level of support we can provide," she said in a written statement.

No votes were scheduled in either house of Congress before Monday, to give rank and file lawmakers time to review the package. Senate approval seems virtually certain; the House could prove more difficult.

Without legislation in place by Tuesday, the Treasury would not be able to pay all its bills, raising the threat of a default that administration officials say could inflict catastrophic damage on the economy.

If approved, though, a compromise would presumably preserve America's sterling credit rating, reassure investors in financial markets across the globe and possibly reverse the losses that spread across Wall Street in recent days as the threat of a default grew.

Even word of an impending deal earlier in the day by Senate Republican Leader Mitch McConnell of Kentucky sent U.S. stock futures upward. And before Obama had finished speaking, Japan's benchmark Nikkei index, opening Monday morning — at 8 p.m. Sunday on America's East Coast — was up 1.7 percent in early trading.

Pending final passage, the agreement marked a dramatic reach across party lines that played out over six months and several rounds of negotiating, interspersed by periods of intense partisanship.

"Sometimes it seems our two sides disagree on almost everything," Senate Majority Leader Harry Reid said in floor remarks.

"But in the end, reasonable people were able to agree on this: The United States could not take the chance of defaulting on our debt, risking a United States financial collapse and a world-wide depression."

Vice President Joe Biden, who played an important part in this weekend's negotiations, agreed. He tweeted: "Compromise makes a comeback."

Not everyone felt that way.

"Someone has to say no. I will," said Rep. Michele Bachmann, R-Minn., a contender for the 2012 Republican presidential nomination.

Across the weeks, Boehner emerged as Obama's principal Republican antagonist in a new contentious era of divided government, yet struggled to corral his own rank and file at times.

At the end, though, McConnell and Biden, who looked on as Obama announced the deal, provided a negotiating channel to get the deal completed, including a last-minute standoff over the impact of spending cuts on the Pentagon budget.

Read more: www.seattlepi.com/news/article/It-s-a-deal-Obama-Congress-will-avert-default-1670646.php#ixzz1Tk1xgm2e

[BeenThere...DoneThat...]

...now, who's gonna lend us the money?

[fairlycrazy23]

Jul 31, 2011 21:46:23 GMT -5 bimetalaupt said:

Done DEAL!! We have keep our A+++ or AAA now for the heavy lifting to save our Grandchildren..

I thought there was still a good chance we would lose our AAA rating because none of the debt plans gets the job done, and if this is the best that can be done under extreme pressure, then we will simply not ever get our spending in line.

[handyman2]

Not to be sour grapes but it has not passed the House and Senate yet and that is at present a sure thing.

[bimetalaupt]

Jul 31, 2011 22:02:02 GMT -5 handyman2 said:

Not to be sour grapes but it has not passed the House and Senate yet and that is at present a sure thing.

Handy man 2,
Yes but I said "Done Deal".. Meaning the dealing was done and now it is up to the whips to get the votes.. Do not be surprised if it is not passed by a unanimous vote!!! The voting public will speech to the judge if they do not do what they have promised.

just my thoughts... IMHO,
Bi Metal Au Pt
WITH ALL THE HEAVY LIFTING DONE LETS PUT IT TO BED AND CREATE WEALTH THE OLD FASHION WAY.. WORK HARD AND SMART..OR AMERICA WILL BE VOTING IN A NEW PERSON TO CORRECT YOUR MISTAKES

a FEW DAYS AGO MOST OF THE GANG IN DC DID NOT KNOW HOW MAD "WE THE PEOPLE " GOT OVER THE ISSUE....

[bimetalaupt]

USA Today

US reaches debt deal two days ahead of deadline
NDTV.com - ‎21 minutes ago‎



Washington: President Obama and Congressional leaders of both parties said late Sunday that they had agreed to a framework for a budget deal that would cut trillions of dollars in federal spending over the next decade and clear the way for an increase ...

Attachments:

oecd income replacement.xls.jpg (72.5 KB)

[deziloooooo]

While mann felt the deal would not be done..and if not the penalty wouldn/t hjave been so bad, there they would have been wrong, it would have been bad, very bad..and there was the possibility of..hats off to them for so doing so, and as one said , the whips now have to get out the whips, so I will go along that it will be a done deal and as far as the fair lady..

""Someone has to say no. I will," said Rep. Michele Bachmann, R-Minn., a contender for the 2012 Republican presidential nomination."

and a pox on her home..

[BeenThere...DoneThat...]

...a pox? why?

[henryclay]

Yes, Why the pox on Bachmann? How many children does anyone here have? Each of them, (at least the ones who are taxpayers) owe the government over $103,000 each, and the "savings" they are talking about is the kind they always talk about. Instead of spending us further in debt at 2 trillion a year more they have "cut" spending. Now it will on,.y be a trillion and a half each year.

I'll put my pox on anybody at all that calls that a good deal. That will primarily be the almost 50% of Americans who live off the government instead of helping it pay the bills.

I wonder if that description fits half the people who post here. Maybe they don't have any children or grandchildren that pay taxers either.

[djAdvocate]

Jul 31, 2011 21:50:26 GMT -5 BeenThere...DoneThat... said:

...now, who's gonna lend us the money?

the same people who always have. America is the most liquid market for capital in the world. that will take another quarter century to shift to China.

[ameiko]

Jul 31, 2011 21:50:26 GMT -5 BeenThere...DoneThat... said:

...now, who's gonna lend us the money?

Really. I'm sick of Obama and his claim that now we can "pay our bills." I wish at least one "journalist" would have the cuts to add, "you mean, Mr. President, now we can borrow the money we need to pay our bills because we spend too much?"

[upstatemom]

Aug 1, 2011 5:02:17 GMT -5 ameiko said:

Jul 31, 2011 21:50:26 GMT -5 BeenThere...DoneThat... said:

...now, who's gonna lend us the money?

Really. I'm sick of Obama and his claim that now we can "pay our bills." I wish at least one "journalist" would have the cuts to add, "you mean, Mr. President, now we can borrow the money we need to pay our bills because we spend too much?"

Why don't we all call the WH and Congress and ask them that question? Do they really think that American Taxpayers think they solved the problem and that we do not see that they just kicked the can again. Who was it last week that said it was too complicated for taxpayers to understand? This just proves to me that most members of Congress live in a different universe.

[Virgil Showlion]

Far too little. Too late. Enough said.

[wyouser]

[deziloooooo]

what is over looked with all the rhetoric here we are a country with obligations to care for our citizens and these expenditures we spend have been demanded by the majority of us..also waste has been done by those who are in charge by getting us into conflicts that the people have no say about and those who get us into these situations, commit us to these conflicts ALWAYS seem to forget that they are not figured into the budget, the cost of these endeavors, just the cost of having the forces ready to be committed,. the waging of is another story.

The cost of these little excursions are enormouse...

I guess the problem is it seems NONE of the readers or posters here have ever had them selves, close friends , neighbors, relatives distant or very, very close who needed these services ever, that they are complaining about that are draining our wealth and will be a burden on our children, grandchildren as they bring out, so they don't understand the necessity of these social services..committments by the government..never ever had to partake of any, so lucky or brilliant these folks are..really a step above the rest of society.

[BeenThere...DoneThat...]

Aug 1, 2011 11:25:01 GMT -5 deziloooooo said:

what is over looked with all the rhetoric here we are a country with obligations to care for our citizens and these expenditures we spend have been demanded by the majority of us..also waste has been done by those who are in charge by getting us into conflicts that the people have no say about and those who get us into these situations, commit us to these conflicts ALWAYS seem to forget that they are not figured into the budget, the cost of these endeavors, just the cost of having the forces ready to be committed,. the waging of is another story.

The cost of these little excursions are enormouse...

I guess the problem is it seems NONE of the readers or posters here have ever had them selves, close friends , neighbors, relatives distant or very, very close who needed these services ever, that they are complaining about that are draining our wealth and will be a burden on our children, grandchildren as they bring out, so they don't understand the necessity of these social services..committments by the government..never ever had to partake of any, so lucky or brilliant these folks are..really a step above the rest of society.

...or some posters know FULL WELL the cost of these programs and reject them on principle...

[Deleted]

Aug 1, 2011 11:25:01 GMT -5 deziloooooo said:

what is over looked with all the rhetoric here we are a country with obligations to care for our citizens and these expenditures we spend have been demanded by the majority of us..also waste has been done by those who are in charge by getting us into conflicts that the people have no say about and those who get us into these situations, commit us to these conflicts ALWAYS seem to forget that they are not figured into the budget, the cost of these endeavors, just the cost of having the forces ready to be committed,. the waging of is another story.

The cost of these little excursions are enormouse...

I guess the problem is it seems NONE of the readers or posters here have ever had them selves, close friends , neighbors, relatives distant or very, very close who needed these services ever, that they are complaining about that are draining our wealth and will be a burden on our children, grandchildren as they bring out, so they don't understand the necessity of these social services..committments by the government..never ever had to partake of any, so lucky or brilliant these folks are..really a step above the rest of society.

The problem being that to many of us, and friends, neighbors, relatives have been conditioned to believe that these excursions as you call them will always be there for us so we have come to rely on them.
Money tree is dead in case you have not noticed.
Do I like the fact that the social security dollars that I have contributed will not be there for me? No, it ticks me off.
Do I like that the social security dollars that I have contributed will not be there for perfectly capable people that decided they could live fairly comfortably without ever going to work? Yes, I like that alot.

[BeenThere...DoneThat...]

Aug 1, 2011 12:12:55 GMT -5 Lady Gaga Gaga Snerd said:

Well, so far i have heard that there are so called cuts that won't be enacted or even voted on until later. So, other than more of the same, what exactly was accomplished other than raising the credit limit on our maxxed out credit card?

...well, if you press 1, then nothing... if you press 2, then nada...

[henryclay]

desi said:

we are a country with obligations to care for our citizens

He didn't provide a reference. I wonder if he can, because I thought the federal government was responsible only for providing FOR the "general welfare" by providing a military capable of defending the nation from invasion, a police force capable of tracking down criminals after they commit criminal acts, and an education system to disseminate the basic needs of capitalism.

But , , , , , I guess it has come to mean this:

Exemption from misfortune, sickness, calamity or evil; the enjoyment of health and the common blessings of life; prosperity; happiness

[floridayankee]

Aug 1, 2011 15:16:18 GMT -5 henryclay said:

But , , , , , I guess it has come to mean this:

Exemption from misfortune, sickness, calamity or evil; the enjoyment of health and the common blessings of life; prosperity; happiness

We already have a place where everybody is equal and everything is provided for you. It's called prison.

[henryclay]

floridayankee said:

We already have a place where everybody is equal and everything is provided for you. It's called prison.

Yes, and they are overcrowded with people wanting to live the good life of laziness. And everybody who votes for tax increases to make more prison beds votes against it. While at the same time denouncing Sheriff Joe for putting up tents instead of air conditioned motel suites.

Some day there may be conjugal facilities, maternity care and schools for prisoners' dependents, like they've had in the "projects" for years. And please notice the "projects" are getting bigger and the waiting lists to get into them are getting longer.

It's a symptom of a nanny state mentality. "Why should I work when I can be declared a ward of the government ?"

[jkapp]

$240 Billion a year in cuts...so our debt will still increase over $1 Trillion a year. Awesome

Here you go kids...a mountain of debt and a punch in the face! F&*^ you and f&*^ your future!!

[zipity]

Really. I'm sick of Obama and his claim that now we can "pay our bills." I wish at least one "journalist" would have the cuts to add, "you mean, Mr. President, now we can borrow the money we need to pay our bills because we spend too much?"

When you owe someone money you don't have you choices are pretty limited, you either raise money or borrow money. Pubs don't want citizens and corporations to pay our debts so the only choice left is to borrow more.

Do they really think that American Taxpayers think they solved the problem and that we do not see that they just kicked the can again. Who was it last week that said it was too complicated for taxpayers to understand?

To complicated for taxpayers to understand? What a stupid thing to say, however had he/she said it was to complicated for the majority of taxpayers to understand, he/she would have been correct as is evidenced here.

It's a symptom of a nanny state mentality.

Whew, for a minute there I thought it was a product of a failed capitalist society.

$240 Billion a year in cuts...so our debt will still increase over $1 Trillion a year. Awesome

Hmmm, cut the $858 billion worth of tax breaks signed into law last December and you drop the deficit to $142 billion...naa we wouldn't want to do that.

[handyman2]

Is it a given that Reid will bring the bill to the floor for a vote? His latest theme has been no. If does pass the Senate and Obama signs it then we are stuck in business as usual. More spent and more debt. Some things never seem to change.

[floridayankee]

Aug 1, 2011 17:12:15 GMT -5 zipity said:

Really. I'm sick of Obama and his claim that now we can "pay our bills." I wish at least one "journalist" would have the cuts to add, "you mean, Mr. President, now we can borrow the money we need to pay our bills because we spend too much?"

When you owe someone money you don't have you choices are pretty limited, you either raise money or borrow money. Pubs don't want citizens and corporations to pay our debts so the only choice left is to borrow more.

If I use my credit card to pay my mortgage, am I actually paying the bills?

[handyman2]

Henry Clay: All those things you mentioned Conjugal visits maternity wards etc. Already exist in prisions. Sad state of affairs.

[Deleted]

When you owe someone money you don't have you choices are pretty limited, you either raise money or borrow money.

But the part that everyone ALWAYS leaves out in any form of the above sentence is: The first step is ALWAYS to stop spending. If you don't stop spending it doesn't matter how much you beg or borrow, you will never get out of debt.

Our problem is real simple. We either didn't listen when we were kids or we didn't learn from people with every day common sense.
Who doesn't remember hearing: When you find yourself trapped in a hole, the first thing you do is STOP DIGGING.

Now I can understand that our elected officials may not understand that (after all they are a small percentage of society & we may have elected the dumbest, stupidest, most IQ challenged people living in the U.S. But there is a large segment of society that doesn't understand it either. That is scary. They really believe that the government doesn't have to pay for bad money management skills ever).

Now to the point of this post. We raised the debt. A deal was made to cut spending by almost 1 trillion over 10 years (that's the bottom line after you pay back the new debt agreed on). So at that rate (14 time 10) in 140 years we as a society will be debt free (except of course for the interest we have to pay & we have to cut spending to less than what we receive plus payments). But there were more spending cuts promised (you say)?

Well we have done EXACTLY the same thing before & look where we are now. President Clinton "projected" out paying off our debt. (Please libs this isn't a cut against Clinton, try to look at it with an open mind). That like all other "projected" cuts was pure 100% political bullshit. Nobody was ever going to follow through with those cuts & nobody ever planned to follow through with them (neither party).

Bottom line is that we will keep spending until 1. We can't borrow any more or 2. We elect at least enough people to freeze our government from spending.

The deal reached was a little better than at 14 year old would have come up with, but not as good as an 18 year old kid would have come up with. Just my opinion.

[jkapp]

It's a symptom of a nanny state mentality.

Whew, for a minute there I thought it was a product of a failed capitalist society.

LOL...considering its the socialist programs that are causing the capitalist system to fail, I hardly call that a capitalist failure...more like a "we told you so" moment for the anti-socialist crowd

$240 Billion a year in cuts...so our debt will still increase over $1 Trillion a year. Awesome

Hmmm, cut the $858 billion worth of tax breaks signed into law last December and you drop the deficit to $142 billion...naa we wouldn't want to do that.

Yes, let's give the drug addicts more heroine and see if they kick the habit

[djAdvocate]

Aug 2, 2011 9:37:26 GMT -5 jkapp said:

It's a symptom of a nanny state mentality.

Whew, for a minute there I thought it was a product of a failed capitalist society.

LOL...considering its the socialist programs that are causing the capitalist system to fail, I hardly call that a capitalist failure...more like a "we told you so" moment for the anti-socialist crowd

i am not sure that is any more true than "it is the defense budget that is causing the system to fail".