Tag Archives: Debt Crisis

Reagan Aid: Chunk of GOP Either Stupid, Crazy, Ignorant or Craven Cowards

It’s been a long time since I agreed with a Republican about anything, but this certainly sounds right to me….

From RawStory.com:

Historian Bruce Bartlett, a former domestic policy adviser to President Ronald Reagan, sat down with MSNBC’s Chris Matthews on Wednesday to discuss the national debt.

Bartlett said it was a myth that tax cuts are the key to prosperity, noting that Reagan raised the capital gains rate. He was also skeptical that Congress would be able to solve the current budget crisis.

“I think at this point, there’s nothing that can pass the House of Representatives,” he said.

“I think a good chunk of the Republican caucus is either stupid, crazy, ignorant or craven cowards, who are desperately afraid of the tea party people, and rightly so.”

via Bruce Bartlett: Chunk of GOP either stupid, crazy, ignorant or craven cowards | Raw Replay.

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Filed under Elections, Polls

Apple now has more cash than the U.S. government – CNN.com

Good for Apple-one of my favorite companies that makes many of my favorite products.

Bad for the U.S Government.  And kind of embarrassing….

From CNN:

Maybe the cash-strapped U.S. government should start selling iPads.

According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That’s still a lot of money, but it’s less than what Steve Jobs has lying around.

Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report. Unlike the U.S. government, which is scrambling to avoid defaulting on its debt, Apple takes in more money than it spends.

This symbolic feat — the world’s most highly valued tech company surpassing the fiscal strength of the world’s most powerful nation — is just the latest pinnacle for Apple, which has been on an unprecedented roll.

U.S. debt: How did we get here?

Its Macs, iPhones and iPads remain hot sellers, its stock has surged past $400 a share and Apple just became the world’s largest smartphone vendor by volume.

There’s been a lot of speculation about what Apple might buy with its piles of cash — Facebook and Sony being two of the more high-profile examples — but the company doesn’t seem to be in any hurry to make a move.

“We don’t let the cash burn a hole in the pocket or make stupid acquisitions,” CEO Jobs said last fall. “We’d like to continue to keep our powder dry because we think there are one or more strategic opportunities in the future.”

Offering Uncle Sam a short-term loan is probably not one of them.

via Apple now has more cash than the U.S. government – CNN.com.

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Filed under Politics, The Economy

My Thoughts: How to Solve the So-Called Debt Crisis: Sell Texas

I’m so tired of hearing all the foolishness in Washington about this manufactured debt crisis the Republicans came up with as an excuse to drive their agenda.  It’s gotten all out of their control now and is threatening all kinds of dire consequences if they force us into default on the national debt.

Well, I have figured out my own solution.  Except for Austin and a couple of other nice cities, lets just sell off Texas.  I’ve been there.  Believe me, we won’t miss it.

Their Governor, Rick Perry, and the Republicans there keep threatening to secede anyway, so lets just sell them off to the highest bidder and make everyone happy.  Surely we would get enough from Mexico or China or someone to greatly reduce the national debt and they would be free of the Washington government they seem to hate so much…

That’s not too much of a sacrifice for them to make, is it?  If they are as patriotic as they claim to be, surely they will be glad to do this for the greater good of the country  They keep saying we have to do something NOW and sacrifices are necessary.  So, let’s sacrifice by selling Texas.  I would much rather do that than cut Medicare, Medicaid or Social Security.  I hope Ann Richards and Molly Ivins would approve…

And we would get rid of a lot of the fools Texas sends to Washington to cause all this trouble…

Makes as much sense as most of the “real” solutions coming out of Washington.

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Filed under Politics, Scott's Commentary