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Laughing Out Loud at Obama
Townhall.com ^ | December 2, 2012 | Charles Payne

Posted on 12/02/2012 7:43:22 AM PST by Kaslin

I read that Senator Mitch McConnell burst into laughter upon hearing Treasury Secretary Tim Geithner lay out President Obama's "Fiscal Cliff" plan. Here's the rub:

> $1.6 trillion in revenue
> $50.0 billion stimulus
> $400.0 billion in Medicare cuts

Unlike Susan Rice, who was sent in to fall on the administration's sword during the Benghazi cover up, Geithner isn't looking for his next government job. It makes him the perfect foil. He can actually go in with a straight face with a proposal so absurd that an old reserved guy like McConnell doubles over in hysterical disbelief. Some say this is how you begin negotiations, and they would be right if this were November 2011. The fiscal cliff countdown clock is a couple ticks from midnight.

We might all love a farce when viewed from afar, but a tempest in a teapot is dangerous when we all live in that teapot. So, when the administration keeps talking as if they think the GOP really wants what they want, then we should all feel sorry for ourselves.
As much as they routinely win the public relations war, their effort on this has been far from compromise and far from reality. The democrats keep tearing, but at least republicans have finally begun to move. For the general public, it's all the same - send in the clowns.

Yes, this is rich, because it's all going to make the nation poorer. Nonetheless, this is the path we are on. So, there will be some form of pain; some form of anti-free market pain that hurts the poorest Americans by limiting their future. This is the path chosen by a slight majority of people that never crunched the numbers, and more than finding or creating their own opportunities, agreed taking money from moderately successful citizens and small businesses is the path to glory. It will never be bliss, and no, I don't agree.

Still, there are lines that must be drawn. The opening salvo from Geithner would be laughable if not so goofy and ill-timed. Let's stop messing around. Here's what the White House will get:

* Extension of (ultra) long term unemployment benefits
* Extension of payroll tax holidays
* Taxes on carried interest

Here's what the White House will not get:

* $50.0 billion stimulus
* Higher taxes on small businesses
* Permanent end to debt ceiling

Framed!

The murkier part is where tax increases will begin. I think higher taxes are a giant mistake, and those that pay are already doling out more than their fair share. But, going down this road, I hope the line moves to $1.0 million. I also think mortgage interest deductions will be altered or tossed out along with charitable deductions but only with real reform to entitlements.

Real entitlement reform has to go into effect at the same time as tax hikes and defense spending cuts.

I must say, yesterday when I heard John Boenher mention "framework" for a plan to deal with a solution later, the hair on the back of my neck stood on end. That is a euphemism for kicking the can down the road. Obviously, that's a giant mistake. Problems don't stop mounting. Debt doesn't stop mounting. The real cliff that comes with us eventually forking over $1,000,000,000,000 a year in interest gets closer.

Gutless politicians on both sides have brought us to this point. Politicians are asking Americans to buy "framework," not knowing if eventually it will house a Caravaggio or velvet painting of card-playing dogs.

But where are the clowns - there ought to be clowns
Maybe next year

Impact of Buffett Tax

A new report says the fair share tax revenue supported by Warren Buffett would pull in only $8.0 billion a year. The chart is from JP Morgan says it all.


Gross Domestic Product

Officially, third quarter economic growth was revised higher to 2.7% from 2.0%.

I have to say, the headline number really masked an economy that is crawling along barely keeping its head above water. While it speaks to the resolve of the economy and underscores it's built to last already, beneath the surface the numbers were disturbing.

Inventories were much higher, revised from initial reading of $34.1 billion to $61.3 billion - good, but not likely to recur. In the mean time, real consumption was lowered to 1.4 from the original read of 2.0 and business investment in things like equipment and software is down substantially to -2.7% from unchanged. This was the lowest read on business investment since second quarter 2011 and down sequentially.

Inventory builds speak mostly to the auto market and made the difference in the overall revision. Economic trends that speak to the future were a major disappointment.


TOPICS: Business/Economy; Editorial
KEYWORDS:

1 posted on 12/02/2012 7:43:27 AM PST by Kaslin
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To: Kaslin

Mitch McConnell should stop laughing and start laying out the framework for impeachment.


2 posted on 12/02/2012 7:48:35 AM PST by ILS21R (Everything... IS... a conspiracy)
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To: Kaslin
This seems to have become quite a major story. McConnell is now Greta Garbo in Ninotchka -- "McConnell Laughs!"

He laughs! He laughs out loud! In Geithner's face!!

Who the hell cares? Is this supposed to show that Republicans are "on to" the Democrats?? We know they are a joke? Their plan is ridiculous, and we're going to tell the world?

Who the hell cares? What are the Republicans prepared to do? I say that they are prepared to do nothing at all, except pretend to be outraged and to perform a little Kabuki theater about being an opposition party.

The Republicans need to stop laughing. They need to push Obama to be more Obama-like, and they need to vote "present" when the bad bills come up for a vote. Let the country's decline steepen. Put Democrat fingerprints all over it. If the Republicans try to provide any assistance in steering this ship, then 100% of the blame for the result will be on the GOP. Don't they see that?? Or are they too busy yukking it up?

3 posted on 12/02/2012 7:54:23 AM PST by ClearCase_guy (Global Warming is a religion, and I don't want to be taxed to pay for a faith that is not mine.)
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To: Kaslin
Are those Medicare cuts of $400 Billion on top of the existing cuts of $716 Billion? Will ANY Medicare be left? The 'Free' Medicare Advantage PPO has already gone to $70 per person per month.
4 posted on 12/02/2012 7:56:59 AM PST by I am Richard Brandon
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To: Kaslin

I have no doubts that the Dems will eventually get everything they want. The Republicans have been on the defense for the last 30 years and now they are on the ropes. How do you cut anything now without being painted as against children or unwed mothers or other such position.


5 posted on 12/02/2012 8:05:02 AM PST by vet7279
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To: ClearCase_guy
To the average TV news watcher in this country, a laughing McConnell only appears as unwilling to work with Zero and the Dems to resolve the problem. “The Republicans only want to protect tax breaks for the wealthy!”

McConnell and “Bohner” are inept RINOs and need to be replaced with someone who can explain the issues to the public in terms that relate to their own lives and future.

6 posted on 12/02/2012 8:08:59 AM PST by Oliver Boliver Butt
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To: vet7279

Obama just wants the Bush tax cuts gone and the auto cuts in place . He thinks he’ll have tons of money to spend on what ever he wants


7 posted on 12/02/2012 8:19:18 AM PST by molson209
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To: Kaslin
"...Politicians are asking Americans to buy "framework..."

Okay, here is some valid framework" start by cutting the retirement for all government workers i.e., congress, senate, federal and union employees across the board. Require a cut in all tax-paid retirement perks and salaries. Make Government WASTE a top priority...might take a few years to lop off the free loaders now employed...check the basements of those imposing office buildings in D.C. for salaried gnomes who do nothing but remain on the pay-rolls for years. Entitlements? Waste and pension cuts go first!

8 posted on 12/02/2012 8:24:50 AM PST by yoe
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To: ClearCase_guy

Exactly what I’ve been saying for a long while.

Let it happen. Just stay out of the way. Don’t “moderate” the extremism of their plan by mocking a debate and concessions.

They want “bi-partisan” when they know their plan will fail and they want to be able to point the finger.

They want all the credit for any plan that shows success.

But Obammie and his Commies don’t want the success that the want. They want collapse.

They just want to be able to point the finger at the free market, at conservatives, at the GOP when it happens. This further demonizes our side and gives them the excuse they need for even greater power.


9 posted on 12/02/2012 8:32:19 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
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To: Kaslin
OBAMA TAX PLAN
10 posted on 12/02/2012 8:43:01 AM PST by FrankR (They will become our ultimate masters the day we surrender the 2nd Amendment.)
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Comment #11 Removed by Moderator

To: ClearCase_guy

The Dhimmicrats have succeeded in framing and defining Republicans as “only FOR the RICH”. The “rich” are already paying the bulk of the taxes and no one in the Republican Party has ‘splained this to the 47% crowd that pay NO TAXES at all. Or that business owners have to and will PASS THE HIGHER TAXES down to them when they BUY something with that welfare check that the “rich” are already furnishing them.


12 posted on 12/02/2012 9:18:10 AM PST by Twinkie (ABORTION is GENOCIDE of Blacks & Hispanics!)
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To: ClearCase_guy

All Republicans do is react. With that they continually lose.


13 posted on 12/02/2012 9:19:33 AM PST by headstamp 2 (What would Scooby do?)
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To: Kaslin

I think that anyone who expects there to be any cuts to Medicare or Social Security had better be ready to go off the cliff.

I think everything else is on the table, but most of my friends and co workers are between 50 and 60 and *ANY* deal that means they receive less than the people a decade or two older is dead dead dead.

You want activism, try telling a 52 year old that they are not going to receive the same benefits that someone 10 years older is receiving or shortly will.


14 posted on 12/02/2012 9:24:40 AM PST by RedStateRocker (Nuke Mecca, Deport all illegals, abolish the IRS, DEA and ATF.)
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To: ClearCase_guy
Used to be the the CPUSA and their COMINTERN buddies met in secret.

Now they are in your face, large, and in charge, from the WH to the local apparatchik at the county commission.

Any attempt to suppress domestic communism is now branded as hate speech or domestic terrorism.

The Republicans are useless.

It's time to start developing a strategy to cripple the marxists, and it must be done totally outside of the electoral process through acts of civil disobedience and counter propaganda, with sympathetic State Governors and legislators assisting in the process.

15 posted on 12/02/2012 9:27:42 AM PST by Rome2000 (THE WASHINGTONIANS AND UNIVERSAL SUFFRAGE ARE THE ENEMY -ROTATE THE CAPITAL AMONGST THE STATES)
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To: ClearCase_guy

They are joke s and communists and thats what they should be called to their faces, Progressives my ass, just another word for communists. Call them what they are, them and their bs tricks with the language.

And refer to this president by what he is known as in Chicago. BATH HOUSE BARRY!

Ridicule them for the jokes they are!


16 posted on 12/02/2012 10:13:08 AM PST by longfellow (Bill Maher, the 21st hijacker.)
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Comment #17 Removed by Moderator

To: Kaslin

Alinski, Rules For Radicals.....

It should be remembered that you can threaten the enemy and get away with it. You can insult and annoy him, but the one thing that is unforgivable and that is certain to get him to react is to laugh at him. This causes irrational anger. — P.134-135


18 posted on 12/02/2012 11:06:16 AM PST by gunnyg ("A Constitution changed from Freedom, can never be restored; Liberty, once lost, is lost forever...)
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To: Kaslin

“Politicians are asking Americans to buy “framework,””

The real a$$-raping of the Obamacare framework hasn’t even kicked in and we’re being asked to go along with more?


19 posted on 12/02/2012 11:46:09 AM PST by Psycho_Bunny (Thought Puzzle: Describe Islam without using the phrase "mental disorder" more than four times.)
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To: Kaslin

McConnell just Alinskyited the doofus Geithner and the President with his unscripted laugh. Its the laugh heard round the world. I’m not sure McConnell knew what his laugh would accomplish, but I think it has been very powerful.

Remember Alinsky Rule 5. Ridicule is man’s most potent weapon. It’s hard to counterattack ridicule, and it infuriates the opposition, which then reacts to your advantage.


20 posted on 12/02/2012 12:21:40 PM PST by WashingtonSource
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To: Kaslin

I’ll do what I can, but I can only assume that we’ve passed the turning point.

No one is seriously discussing meaningful spending cuts.


21 posted on 12/02/2012 12:33:23 PM PST by St_Thomas_Aquinas
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To: Kaslin

Charles Payne is one of the most brilliant and on-target analysts in the business. I try never to miss him on Fox and Fox Business. He may very well be the best I have ever seen and read. He nails this one exactly.


22 posted on 12/02/2012 2:20:40 PM PST by RichardW
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To: RichardW
Amen to that. Payne is the very best. I so admire him. He tells it like it is. Too bad his is virtually alone in the media. Rick Santelli is a close second but he is hampered by the overwhelming leftists on CNBC (Cramer, Sorkin, Quick, Quintanilla, Lee, Faber, and Hobbs to name but a few.)
23 posted on 12/02/2012 2:36:49 PM PST by brydic1
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To: All; WashingtonSource
Remember Alinsky Rule 5. Ridicule is man’s most potent weapon. It’s hard to counterattack ridicule, and it infuriates the opposition, which then reacts to your advantage.

I agree -it is something the useful idiots that elected 0b0z0 will understand.

ADDITIONALLY -I suggest that House Leadership Parrot EVERY 0b0z0 statement and comment about 'winning', 'mandates', and what 'the people want'. Take away the supposed majority mob advantage the marxist usurper falsely claims by repeating the idiot as a response to the idiot.

We are the House of Representative and the People have Spoken! We are a Republic -NOT a Royal Kingdom!

24 posted on 12/02/2012 5:11:19 PM PST by DBeers (†)
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To: DBeers

-—— the People have Spoken!——

I would like to see the number of total Republican votes for elected House candidates to compare with the total Democrats vote for Obama.

I think more folks voted for Republican House members than voted for Obama

The House has the mandate of the people


25 posted on 12/02/2012 5:19:19 PM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: ILS21R
Mitch McConnell should stop laughing and start laying out the framework for impeachment.

That would be Boehner's job, since the articles of impeachment are the responsibility of the House of Representatives. The chances Boehner will ever have the backbone to do it are about the same as hell freezing over.

McConnell's job would be to bring it to trial in the Senate (once an actual impeachment has happened) but as we both know, Dingy Harry Reid runs the Senate so again, the chances of it ever happening are about the same as the House actually impeaching Obama (ie: when hell freezes over.)

26 posted on 12/02/2012 5:30:29 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: ILS21R
Mitch McConnell should stop laughing and start laying out the framework for impeachment.

That would be Boehner's job, since the articles of impeachment are the responsibility of the House of Representatives. The chances Boehner will ever have the backbone to do it are about the same as hell freezing over.

McConnell's job would be to bring it to trial in the Senate (once an actual impeachment has happened) but as we both know, Dingy Harry Reid runs the Senate so again, the chances of it ever happening are about the same as the House actually impeaching Obama (ie: when hell freezes over.)

27 posted on 12/02/2012 5:30:39 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: FrankR
I still want Barky's "wedding ring" (he was wearing it before he got married) examined by two jewelers and a non-Moslem Arabic expert who knows Islam.

I want to know if Jerome Corsi's right, that there's an inscription in Arabic on that ring -- and what it says.

28 posted on 12/03/2012 12:56:51 AM PST by lentulusgracchus (Hanoi toy, McCain's their boy. (Hat tip to FReeper |neverdem|.))
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To: usconservative
McConnell's job would be to bring it to trial in the Senate .....

No, the Senate trial, as in Clinton's case, would be presented (prosecuted) by the House impeachment managers (led by Henry Hyde of Illinois last time), and the Senate would be the jury -- bound to silence and to attendance during the entire proceeding. The presiding officer would be the Chief Justice.

I will take to my grave the feeling I got when Chief Justice Rehnquist, in his gold-trimmed robes that he designed himself, walked into the Senate chamber. It was something like awe, and a feeling of "this is history! I will never live long enough to see this happen again!" -- and a strong yearning for what someone called the Great Justice.

29 posted on 12/03/2012 1:10:28 AM PST by lentulusgracchus (Hanoi toy, McCain's their boy. (Hat tip to FReeper |neverdem|.))
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To: lentulusgracchus
I will take to my grave the feeling I got when Chief Justice Rehnquist, in his gold-trimmed robes that he designed himself, walked into the Senate chamber. It was something like awe, and a feeling of "this is history! I will never live long enough to see this happen again!" -- and a strong yearning for what someone called the Great Justice.

And then Trent Lott trivalized the whole process...

30 posted on 12/03/2012 2:09:00 AM PST by okie01 (THE MAINSTREAM MEDIA; Ignorance on parade.)
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To: ClearCase_guy

http://www.businessinsider.com/chinese-students-laugh-at-tim-geithner-2009-6

Chinese students laughed at Geithner in 2009.

http://www.zerohedge.com/news/europes-response-geithners-advice-id-hear-how-united-states-will-reduce-its-deficits-and-its-de

the EU ridiculed Geithner in 2011

WTH took McConnell so long to laugh him out of the room?

Tim Geithner is the Eddie Haskell of finance


31 posted on 12/03/2012 4:09:16 AM PST by silverleaf (Age Takes a Toll: Please Have Exact Change)
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