Debt Ceiling
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DNC Memo: Political Pundits Got Debt Ceiling Scorecard Wrong
WASHINGTON -- The rush to frame the winners and losers in the debt ceiling deal stands in stark contrast to the protracted negotiations over the debt ceiling themselves. On Thursday afternoon, the Democratic National Committee engaged once again, issuing a memo arguing that political pundits got their analyses wrong when they deemed the final result a win for the Republicans. "The fact is, since President Obama reached a debt and deficit compromise with Republicans over the weekend, CNN and Gallup polls show that a hefty majority of Democrats and Liberals support the deal while a hefty majority of Republicans, and particularly the all-important Tea Party Republicans, oppose it," says the memo, authored by DNC Executive Director Patrick Gaspard and sent to The Huffington Post. "If you’re waiting for the rush of stories, columns and blogs with the inside the beltway intelligentsia admitting they missed the mark on this – don’t hold your breath.
Comedian Bill Cosby isn’t afraid to point to the role of the gun in the killing of Trayvon Martin. Cosby said “When you carry a gun, you mean to harm somebody, kill somebody.” The irony is that a gun turns someone who is otherwise afraid of everybody into someone that everybody needs to be afraid of. And under Florida’s Stand Your Ground Law, that person doesn’t even have to be afraid of getting arrested.
Randi Rhodes
Economics and Politics by Paul Krugman - The Conscience of a Liberal - NYTimes.com
I’ve been getting the predictable hysterical reactions to today’s column. And it’s true — I’m a Sharia Jewish atheist Marxist who hates America! Bwahahaha! But one thing actually worth reacting to is the assertion I keep getting that this is all a distraction, that even if we seized all the money of the top 0.1% it would make no difference to the fiscal outlook. Here’s a piece of advice nobody will take: before you make assertions about numbers, look at the numbers.
According to http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm , the debt at the end of the 1980 fiscal year, on September 30th, 1980, was $907,701,000,000. On September 30th, 1981, it was $997,855,000,000. Averaging it out over the year gives a debt of $246,997,260.27 per day. Reagan took office 112 days later on January 20th, 1981.
Calculation Details
Business - The Daily Beast
Millions of Americans struggle with poverty every day, and the fastest growing impoverished group may surprise you. Newsweek & The Daily Beast's Editor-in-Chief Tina Brown sits down with Cornel West and Tavis Smiley to discuss their new book and 'poverty tour,' where they confront this issue head-on.
