What on earth is S365? (via (B)LogtheLeg)

The debt ceiling agreement clobbers grad students. It makes it harder to get loans for those working toward advanced degrees. We in this country need to encourage education not just at the bachelor level but at all levels. We don’t just live to make money but to extend our civilization. It’s important to continue this process.

Let’s cut grad students a break and maintain their ability to stay in school.

James Pilant

Based on the timing on this post, I think you can infer it's the debt ceiling bill that passed the House earlier. But let's go a bit in depth, and discuss something which I don't believe was discussed on the Floor of the House. I'm not going to delve into the numbers of the debt ceiling, for you all can read that on whichever source you choose. What many of your outside sources will not tell you is the name of the bill itself. It is entitled, "To … Read More

via (B)LogtheLeg

NYT: Debt Limit Deal “A Nearly Complete Capitulation to Hostage-Taking Demands of GOP Extremists” – 8/1/11 (via Tarpon’s Swamp)

This is an accurate description of the situation. I am hoping for much more savage denigration of the current holder of the Oval Office. I am going to do some of it myself.

James Pilant

The liberals at the New York Times don’t like the Debt Limit Deal President Obama and Leaders of Congress have agreed to. That’s always a good sign. Here’s some of their bluster in an editorial published this morning: NEW YORK TIMES: There is little to like about the tentative agreement between Congressional leaders and the White House except that it happened at all. The deal would avert a catastrophic government default, immediately and probably … Read More

via Tarpon's Swamp

Campaign for America’s Future: Extremists Won (via Beaver County Blue)

The author explains why the budget deal is a disaster. I agree with everything in the article.

The biggest disaster is to our chances of rational government. The President has handed the House or Representatives a sledgehammer to pound him to mulch anytime they want something.

James Pilant

Campaign for America's Future: Extremists Won Capitulation By Robert Borosage The raw deal on the budget ceiling has been cut. The Tea Party terrorists – the extremist faction willing to hold the economy hostage to get their way – have won. The Republic, common sense and decency have been trampled. With the economy deeply depressed, 25 million people in need of full time work, the raw deal will impede any recovery. It precludes any serious action on jobs from the federal government. It will … Read More

via Beaver County Blue

Professional politicians made up of mostly lawyers con men (via str8media)

Yeah. Pretty much.

We have a brand new national catastrophe. There is no way to sugar coat it, no way to improve the sound of it. Middle class Americans are going to suffer a further decline in benefits, job security and educational potential while the “bond” market is protected (although it was doing just fine).

James Pilant

Professional politicians made up of mostly lawyers con men WASHINGTON — President Barack Obama and Republican congressional leaders reached historic agreement Sunday night on a compromise to permit vital U.S. borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts. Most of you don't get it but are too blind to see even if it was laid out in front of you, their plan is to bankrupt this country, this vote fixes nothing.  Please ignore your party loyalty and think about ou … Read More

via str8media

Small Boats Sunset wallpaper – The Attack of The Serious People (via The Long Goodbye)

This is a thorough analysis of the debt ceiling crisis. I enjoyed it. I hope you do too.

James Pilant

Small Boats Sunset wallpaper - The Attack of The Serious People Small Boats Sunset wallpaper   For better or worse the debt ceiling debate has turned into a horse race story. The closer any political event can be framed into a horse race context the better most of the media likes it … Boehner has a plan, talks break down, Reid has a compromise, tea toddler Republicans pull back. So ABC's report of a tentative debt ceiling compromise might mean something for the next few hours and then disappear into th … Read More

via The Long Goodbye

Middle Class And Poor To Feel The Pain After Deal Is Passed (via Sky’s Universal Predications)

Yes, as always, this is the case. The beltway bloviators, the “villagers,” the 24 hour news networks, the opinion makers, etc. long ago decided that the great mass of Americans were a bunch of lazy, unmotivated, whiny, and fat hogs who need the discipline of the market in their pointless lives. I am reminded of the condemnation in the Bible for those who load the poor with burdens while being unwilling to bear any burden of their own.

James Pilant

Middle Class And Poor To Feel The Pain After Deal Is Passed (As always, the middle class and the poor will feel the pain the most, while the wealthy get another tax break. And when we hit the debt ceiling again in a few years, they'll be asked to do it all over again–by taking it up the ass for the rich.) Debt hope: Obama praises 'Gang of Six' plan WASHINGTON (AP) — President Barack Obama and a startling number of Republican senators lauded a bipartisan deficit-reduction plan Tuesday that includes $1 tri … Read More

via Sky's Universal Predications

The Best of the Debt Ceiling Postings on the Web

Wright Investor Services discusses the debt ceiling debate’s effect on stocks. There is no pro or con here just cold analysis.

eleriravuby in a posting called: Conservative ire threatens GOP debt plan in House (AP)   comments as follows –

For all that, it was the tea party-backed members of Boehner’s own party who continued to vex him, and heavily influence the debt and deficit negotiating terms ? not to mention his chances of holding on to the speakership.

THE DC FOLLY TROLLEY (via Corruptus Maximus) This is not a kind view of the Obama Administration.

It’s a gorgeous road (via A Walternative Universe) Here are some beautiful photographs followed by political commentary – it’s all very well done.

Hurry up and wait…. (via From D.C., With Love) This appears to be an actual participant in the crisis, a D.C. insider. However, she’s not giving up any heads up’s on the crisis.

current politics (via JCS Blog) This writer believes that our current debt ceiling situation is a positive thing. Please read and see what you think.

Here’s a comment from  Predictions (via Tfgray’s Weblog) –

True, I came up with a different reason for Wall Street’s blasé attitude, but there’s a fundamental similarity. They’ve already figured out a way to make money off it. Buy low, sell high is a lot easier to do when everyone is bailing on their investments in order to cover the expenses that their Social Security check used to.

This is a very cynical comment. I really like it. One must appreciate cynicism when it is delivered accurately.

Here is the last of the blog posts I enjoyed (and had time to read). Take a look at this paragraph – this is some pointed writing.  It’s from – The Fairest Game: Servants of Oligarchs (via For The Kindle/Lulu Ebook Lover)

The debt ceiling debates in Washington seem to best illustrate my point. This is the silliest political side show I have ever seen. It seems like we have a lot of those these days with the strange goal of this non official so-called Tea Party leading these power hungry Republicans by the nose rings. In Speaker Beohner, for instance, we have what must be one of the most Lillie livered politician ever to grace the front page of any newspaper. If my memory serves me, I believe it was he who stated that the leader of the republican party was actually Rush Limbaugh. It wasn’t something that he suggested in some round about way, either. For this professional public servant a race/class baiting talk show host was the leader of the Grand Old Party, the party of Teddy Roosevelt, the party of Dwight Eisenhower. It’s men like this, politicians like this who are, next to (very sadly to say) our current President who are the fairest game, the fairest game for the angry public, for comedians, for cartoonists. Why, because what we see speaking to us from the radios and TV sets are the servants of oligarchs. Their actions are meant to fly in the face of the overall public.

Obviously, I could only cover a small proportion of the writing on the net but I do hope you enjoy my selections.

James Pilant


Five Reasons the House GOP Is to Blame (via James Fallows from The Atlantic)

James Fallows continues his comments on the current debt ceiling crisis. –

Here’s a comparison: Suppose, by similar quirk, there was an arbitrary ceiling on the amount of ammunition the U.S. military could buy each year. Or the amount of fuel for drones, bombers, and Humvees. Like overall national debt, these purchases are foreseeable consequences of previous political decisions — in this case, about the wars the country decides to fight. But suppose that when the “ammo ceiling” came due for its routine extension, a group of legislators said they would refuse. No more bullets or jet fuel after August 2, and for good measure no more food for the troops, unless demands for radical change in future foreign policy were met in full. That would rightly be seen as blackmail, and as a reckless willingness to damage the nation for partisan ends. A similar reckless exercise in blackmail is underway now, with the difference that the consequences can be longer-lasting and worse.

Blackmail- that’s exactly how I see it. I am happy to observe that I am not the only one.

There is not much to be done now. The Republicans cannot generate a bill that will get a majority of their own caucus’ vote. Without that, there is no chance of a congressional action ending the crisis. The only ball park left is for the President to declare that based on a Constitutional provision, the United States will continue to pay its debts.

I doubt if he has the will or the courage. Of course, even mice pushed into a corner will on occasion bite.

James Pilant

The only debt I can care about these days is my own (via MichaelEdwardKelly.com)

This is a personal view of our current debt limit crisis. I liked his take on the situation and call your attention to it.

James Pilant

It's been a while since I've delved too deeply into a political discussion here, and that's been a conscious decision. I've really found myself thinking less and less about national issues as time has gone on, and I think this is a direct result of me thinking more and more about my own personal issues. So when it comes to this whole "problem" of the debt ceiling debate, I have little to offer. It's not that I haven't been watching the news, or r … Read More

via MichaelEdwardKelly.com

The U.S. as ‘Lethal Laughing Stock’ (via James Fallows from the Atlantic)

This is from James Fallows –

Yesterday I mentioned that governmental paralysis over the debt ceiling — a wholly artificial construct* being addressed with mainly incoherent arguments** — was already turning the strongest, richest country in the world into an international laughing stock, whether or not we reach the final disaster of a default.

Yes, that’s about right.

It’s easy to blame the ideology driven House or Representatives but the real villain is the President. Obama has established a reputation as a negotiator ever ready to cave under every imaginable circumstance, always willing to appear as the “adult in the room” no matter what has to be given up to maintain that image. But if that isn’t enough, we have a President celebrated for his eloquence who is constantly unable to rally the American people behind any major policy whatever. His speech this week should have laid out the shady blackmail being played out by the House, instead it’s a wimp suggestion to “call your congressman.”

I would like to explain something to Mr. Obama. My congressman is one of those people who are blackmailing him to do what they want on the budget. There is no threat I can imagine including physical violence that will change his mind. He could not care less what I think and probably even less what the President thinks.

I am a constituent of this person only in the most technical sense. In reality I am meaningless to him. His real constituency is Fox news, Rush Limbaugh, the Tea Party and talk radio. The President’s call for phone call activism is a waste of his and my time.

So, the train wreck approaches. Will the President cave? Of course – that’s almost his profession.

But that is not enough any more to stop default. There are too many competing plans and the Republicans Congress is split – unable to generate a majority for any one plan. Even if they can get it together in these last few days. any bill put together by these petty blackmailers, is dead on arrival in the Senate.

So, disaster is coming, kinds of a 2012 apocalypse on an early schedule.

James Pilant