tag:blogger.com,1999:blog-9619963.post4695793359108336384..comments2023-12-08T12:50:34.303-08:00Comments on W.C. Varones: Moody's says Obama and Geithner are lying about "default," and both the Boehner and Reid plans are completely inadequate to avoid downgradeW.C. Varoneshttp://www.blogger.com/profile/17663570682958847976noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-9619963.post-88394212578774426312011-07-31T10:30:03.102-07:002011-07-31T10:30:03.102-07:00B-Daddy,
What should be done is:
- Means-test S...B-Daddy, <br /><br />What should be done is:<br /><br />- Means-test Social Security and raise the retirement age<br />- Block grant Medicare<br />- End the wars in Iraq, Afghanistan, and Libya, and bring the troops home from Germany, Japan, and South Korea<br />- End the War on Drugs<br />- Abolish the TSA<br />- Let Fannie Mae and Freddie Mac fail<br />- Let Bank of America fail<br />- Start zero-based budgeting in Washington<br /><br />Unfortunately, none of that will happen without electing a lot more Rand Pauls to the Senate.<br /><br />What will happen is still what I <a href="http://www.wcvarones.com/2011/06/debt-limit-predictions.html" rel="nofollow">said</a> a couple months ago: <br /><br /><i>Boehner and the Republicans will talk tough all the way to the brink, then fold like a cheap suit and accept a deal that has something like $2 trillion in alleged spending cuts over ten years, all of which will be back-end loaded meaning no significant cuts before Election 2012, and which will not put the country on a fiscally sustainable path.</i><br /><br />You raise a good point, that politics is the art of the possible, and yes, this is probably the best deal the Republicans could have gotten without being smeared by the left-wing MSM as being responsible for the inevitable debt downgrade.W.C. Varoneshttp://www.wcvarones.comnoreply@blogger.comtag:blogger.com,1999:blog-9619963.post-76067653901865978642011-07-31T10:12:02.667-07:002011-07-31T10:12:02.667-07:00WC,
The debt is the problem of course. But there ...WC,<br />The debt is the problem of course. But there is no plan that can pass Congress that will reduce the debt in the short term. What should be done, given the Democrat votes in the Senate.B-Daddyhttps://www.blogger.com/profile/13880092017105841256noreply@blogger.comtag:blogger.com,1999:blog-9619963.post-87099756391704664132011-07-31T07:04:57.609-07:002011-07-31T07:04:57.609-07:00WCV:
Moody's is only about 20 years too late. ...WCV:<br />Moody's is only about 20 years too late. Consider the implications of SEC regulation on the "rating agencies". Or CPA firms. Do these "impartial guardians of the numbers" defer to Uncle Sam? Do we want Uncle Sam to regulate them? Did any CPA firm tell us before the 2008 financial crisis that many of our big banks were insolvent? Do they say so now?<br /><br />IAIndependent Accountanthttps://www.blogger.com/profile/07800220849565219709noreply@blogger.comtag:blogger.com,1999:blog-9619963.post-56136899546030886872011-07-30T18:50:15.613-07:002011-07-30T18:50:15.613-07:00Some good credit rating agency commentary here: ht...Some good credit rating agency commentary here: http://www.pjtv.com/?cmd=mpg&mpid=113&load=5828Shane Atwellhttps://www.blogger.com/profile/12268148003641995554noreply@blogger.com