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Smells Like . . .

White House sez:

BIPARTISAN DEBT DEAL: A WIN FOR THE ECONOMY AND BUDGET DISCIPLINE The debt deal announced today is a victory for bipartisan compromise, for the economy and for the American people.

Incredible. Smells like something allright.

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    I'm reminded of (5.00 / 2) (#1)
    by andgarden on Mon Aug 01, 2011 at 07:33:04 AM EST
    Look on the bright side (none / 0) (#21)
    by Edger on Mon Aug 01, 2011 at 10:57:02 AM EST
    He did promise to be transparent................

    Parent
    Obama: Still the best President since (5.00 / 2) (#2)
    by observed on Mon Aug 01, 2011 at 07:41:41 AM EST
    Bush; in the top two since Clinton.

    The problem with White House Spin (5.00 / 6) (#3)
    by NYShooter on Mon Aug 01, 2011 at 08:07:30 AM EST
    When a Republican President lies, Republicans believe him.

    When a Democratic President lies, everybody knows he's lying.


    I remember (none / 0) (#5)
    by lentinel on Mon Aug 01, 2011 at 08:11:12 AM EST
    during the crisis in New Orleans, Bush denied saying something even after they showed film of him saying it.

    And people believed him anyway.

    Parent

    Default (5.00 / 5) (#4)
    by lentinel on Mon Aug 01, 2011 at 08:09:24 AM EST
    could be disastrous for me.

    Yet, I would almost feel a sense of relief is this p.o.s. were to be shot down - especially by a progressive caucus.

    I suppose that kind of mindless anger on my part is the type of thing that fuels revolution  - the type where people burn their own cities.

    What a goddam mess.

    I never had any hopes for Obama - but I never quite imagined that he would be responsible for continuing the very worst of W. - and bringing to fruition whatever damage W. didn't quite get around to.

    "Good" for the economy? (5.00 / 1) (#6)
    by ruffian on Mon Aug 01, 2011 at 08:33:05 AM EST
    I guess they mean 'better than defaulting and blowing the credit of the USA'.

    Even then I can't quite see it.

    oh, excuse me, a "win" for the economy (5.00 / 1) (#7)
    by ruffian on Mon Aug 01, 2011 at 08:36:16 AM EST
    WTF!!!!!

    Parent
    Smells like....... (5.00 / 4) (#8)
    by MO Blue on Mon Aug 01, 2011 at 08:37:57 AM EST
    A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong.

    For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America's long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status.
    ...
    Make no mistake about it, what we're witnessing here is a catastrophe on multiple levels.

    It is, of course, a political catastrophe for Democrats, who just a few weeks ago seemed to have Republicans on the run over their plan to dismantle Medicare; now Mr. Obama has thrown all that away. And the damage isn't over: there will be more choke points where Republicans can threaten to create a crisis unless the president surrenders, and they can now act with the confident expectation that he will. Krugman

    I disagree with Krugman that Obama surrendered. He tenaciously pursued the agenda that he shares with Republicans of weakening the safety net programs so they can be eliminated and drowning government in a bath tub. All welfare programs and government spending will be for themselves and their uber-rich cronies.  

    It really is worse (5.00 / 3) (#9)
    by NYShooter on Mon Aug 01, 2011 at 08:43:26 AM EST
    Than you could imagine. Before he's through, he will be the most hated person in the world, and by extension so will America.

    What is taking place worldwide is the wholesale liquidation of countries' assets, and the forced indebtedness of their populations. Throughout Europe, and in the U.S, "Austerity" is the name given to the vehicle designed to strip civilizations of whatever assets they hold and transfer them to the Oligarchs, namely the Bankers.

    As he was busy selling out the American public, Obama had his executioner, Geithner, running around Europe warning
    those countries' governments that whatever "restructuring" they did with troubled economies one rule had to be obeyed: the banks that made the lousy deals, the banks that gambled and lost, were not to forfeit "a single penny." The governments, meaning the people, had to take the bad loans off the banks balance sheets and placed onto the backs of the population.
    ,
    Even the deals where the banks (and bondholders) agreed to take somewhat less than 100%, Timmie was right there warning them again, the banks were not to lose even 1 cent.

    You see, the American Banks (Goldman, Citi, B of A, JP Morgan, et al) who sold the "advice" to the governments, which ended up bankrupting them, followed up their advice by selling Credit Default Swaps (insurance against defaults) to the banks making the loans. And its our Treasury Secretary's job to see to it that our banks, never ever lose....even one penny.  


    Parent

    Yes, the White House (none / 0) (#13)
    by KeysDan on Mon Aug 01, 2011 at 10:17:11 AM EST
    line betrays the "surrender."  Obama see this as his  grand bargain in another form.   Otherwise,  a somewhat more believable spin would be acknowledgment that the deal was made to avoid an even greater catastrophe than the one imposed by the extremist Republicans--It is not good for the economy, in fact, it may even be worse, but it is a risk that the president must take.

    The economy along with the  middle class and poor will be seriously hurt, including Medicaid, a prime component of the health care act.  This issues are too important not to have broad discussion through regular channels--something that a super congress of just 12 should not be allowed to do.   Now, the Republicans own the economy, not Democrats, and we will be bringing that to the American people;s attention at every opportunity.  

    Parent

    E-mail to my Congressmen (5.00 / 3) (#12)
    by mmc9431 on Mon Aug 01, 2011 at 10:16:59 AM EST
    I don't believe it will alter any decisions but I felt they needed to know that I feel totally sold out:

    Dear Senator Durbin;

    I'm totally disgusted at being talked down to as the spoiled, selfish child that refuses to accept the wisdom of his elders.

    If Obama truly believes that the only way to preserve the Democratic Party is to destroy it, then he needs to step down.

    There are values worth fighting for. There are issues that are not negotiable.

    If his image of compromise is more important then the welfare of the nation then it's time for him go home and let someone that does believe in the Democratic Party to take over the reins.

    Ah yes (5.00 / 3) (#14)
    by lilburro on Mon Aug 01, 2011 at 10:17:54 AM EST
    "What you are now witnessing is the most masterful rope-a-dope ever performed by a president against an opposition party in Congress."

    - Lawrence O'Donnell

    Curious to see (5.00 / 1) (#15)
    by gyrfalcon on Mon Aug 01, 2011 at 10:21:02 AM EST
    what he says tonight...

    Parent
    It reminds me (5.00 / 1) (#19)
    by lilburro on Mon Aug 01, 2011 at 10:55:48 AM EST
    of all the "trust Obama!" commentary around the public option.

    That's just not smart analysis.

    Instead of focusing on policies and proposals in real-time, we are told to wait for the awesomeness.  What is the point of that?

    And then, when the awesomeness does not arrive (no public option, no debt ceiling bill), these O'Donnell types don't say, "Mr. President, you failed us here," they just move the goalposts.  So Obama never has to say sorry to the left.  There's no acknowledgment that there was a failure.

    What is the point of that?  What are the virtues of this type of analysis?

    Parent

    The left! (none / 0) (#23)
    by mmc9431 on Mon Aug 01, 2011 at 11:11:04 AM EST
    Republicans and Obama have succeeded in labeling anything short of the tea bag position as left.

    Obama wears the anger from the left as a badge of courage and honor. (It shows everyone just how "reasonable" a president he is). The left is just a bunch of radicals that don't understand the realities of life.

    Parent

    Hahahaha (5.00 / 1) (#30)
    by BrassTacks on Mon Aug 01, 2011 at 02:32:02 PM EST
    Lawrence is so funny.  He's the dope on the rope!  

    Parent
    Really? I don't see the (none / 0) (#20)
    by observed on Mon Aug 01, 2011 at 10:56:03 AM EST
    dems pressing Obama like Frazier, although he does act like he's got shaken baby brain.


    Parent
    Smells like (5.00 / 1) (#16)
    by TeresaInSnow2 on Mon Aug 01, 2011 at 10:33:25 AM EST
    depr-recession.

    Manufacturing activity barely grew in July, falling to the weakest level since just after the recession ended.

    ...and I'm sure WallStreetBlackGuy will say, but tsunami, Japan, etc. To this, I will say yep, it's one of the factors that play into this economic downturn, and just another reason why austerity isn't a good idea at this time.

    Ever feel like you're gonna be... (5.00 / 2) (#18)
    by Dadler on Mon Aug 01, 2011 at 10:39:48 AM EST
    ...on the "wrong" side of a debate for the rest of your life?  Reasoning with boulders for the next few decades?

    I have traffic school to take care of today.  Normally I'd rather have teeth pulled without anaesthesia than do traffic school.  But with the news today, blah, traffic school is a spa day.

    Peace.

    The annotated version of (5.00 / 1) (#22)
    by Anne on Mon Aug 01, 2011 at 11:03:26 AM EST
    the WH's assessment of the deal:

    The debt deal announced today is a victory for bipartisan compromise (and here I thought the issue was the debt ceiling), for the economy (the one I live with or the one the banksters, Wall Street and the elite control?) and for the American people (notice there's no mention of which American people this is a victory for, although I know of one person - his name rhymes with "Barack Obama" - who pretty much desperately needs to claim victory now - so his potential donors don't go looking to remove a couple of zeroes from the checks he wants them to write -  if he wants any chance to haul out the Greek columns for his 2012 victory celebration).

    I wonder what happens when the confidence fairy doesn't show up; oh, I guess that's when we get the "go shopping" speech, huh?

    That should be a real barn-burner...


    Now, now (none / 0) (#24)
    by jbindc on Mon Aug 01, 2011 at 11:13:48 AM EST
    Obama didn't "give one inch" and stood firm.

    Why, oh, why don't you like decisive leadership??

    Parent

    i think those Greek columns (none / 0) (#25)
    by The Addams Family on Mon Aug 01, 2011 at 11:49:00 AM EST
    are no longer really Greek - the banks own them now

    Parent
    New columns are on order, (5.00 / 1) (#28)
    by KeysDan on Mon Aug 01, 2011 at 01:44:37 PM EST
    but they are Roman.  One free with eleven (to celebrate the chess game) and a fiddle thrown in.

    Parent
    Related... (5.00 / 1) (#26)
    by jeffinalabama on Mon Aug 01, 2011 at 12:51:41 PM EST
    watched "Despicable Me" with my son last night on DVD. Gru, the protagonist, enters the "Bank of Evil." Underneath that sign, it says, "Formerly Lehmann Brothers."

    The Evil Bankster Support Caucus. Formerly the Democratic Party.

    I grew up in a part of the country (5.00 / 1) (#27)
    by scribe on Mon Aug 01, 2011 at 01:17:28 PM EST
    which had lots of small farms (now housing developments) specializing in dairy and associated crops.

    Those barns had the integrity to smell like what they were full of.  Not so Obama.  (That the same is true for DC has always been true and bears mention only for completeness' sake.)

    Incredible? (none / 0) (#10)
    by Warren Terrer on Mon Aug 01, 2011 at 09:59:32 AM EST
    Come on, BTD. You said this in a previous diary:

    In any event, the deal will certainly be a loss for Democrats and I can only hope no Democrat, from the White House on down, attempts to claim victory. That would be self defeating.

    You, and I, and everyone here knew that was a vain hope. OF COURSE they would declare victory no matter what the outcome. This was as predictable as the sunrise.

    "I'm a lefty, (none / 0) (#11)
    by Jlvngstn on Mon Aug 01, 2011 at 10:04:51 AM EST
    get used to it."

    =

    I wonder which hand he will sign this bill with?

    Smells Like Teen Spirit... (none / 0) (#17)
    by kdog on Mon Aug 01, 2011 at 10:35:25 AM EST
    Load up on guns,
    Bring your friends
    It's fun to lose and to pretend
    She's overboard self assured
    Oh no I know, a dirty word.

    Hello, hello, hello, hello?
    Hello, hello, hello, how low?



    I love the smell of capitulation in the morning (none / 0) (#29)
    by ruffian on Mon Aug 01, 2011 at 02:01:57 PM EST
    I'm a little slow BTD, but I did get 8 hrs later....