CNBC's Erin Burnett on National Debt: 'The Problem is Our Revenue'
Appearing on Monday's "Today" to discuss the debate over reducing the nation's debt, CNBC host Erin Burnett declared to co-host Matt Lauer: "The problem is our revenue, what the government takes in, in taxes. What you pay every month out of your paycheck is way smaller, in fact, it's only somewhere around $2 trillion a year."
After Lauer asked about the relationship between government spending and the debt, Burnett acknowledged: "They are related, but really, to tackle this issue, we do have to tackle entitlements. When you look at Medicare and Social Security, it's 40% of our budget." However, she quickly denounced Republican attempts to use a raise in the debt ceiling to cut such spending: "Those are the questions we have to answer, but not through playing chicken on the debt ceiling."
Near the end of the segment, Burnett remarked that the United States is "...a very wealthy country. If you look at our assets, we could pay down the debt tomorrow. We choose to borrow because we can borrow at incredibly low interest rates." By "assets," Burnett seemed to be referring to the income of all Americans (unless she plans to auction off the Statue of Liberty to pay our bills).
Here is a full transcript of the April 11 Today segment:
7:13 a.m. EDT
MATT LAUER: Let's try to explain it more. Exactly what is the debt ceiling and why does it matter to you? Here to explain, CNBC's Jim Cramer and Erin Burnett. Good morning to both of you.
JIM CRAMER: Good morning.
ERIN BURNETT: Good morning.
[ON-SCREEN HEADLINE: Dealing With the Debt Ceiling; How Does Government Borrowing Affect the Economy?]
LAUER: Who wants to take the shot at this? What is the national debt ceiling?
JIM CRAMER: This is how we – our nation pays its bills, but we borrow money to pay our bills. It's not like you and the mortgage, we're you can continue to borrow, you get one shot at it and if we don't raise the debt ceiling, then we're going to default. You just have to look at what Greece is doing, these countries – Portugal. These are countries that are all on the verge of default. And they can't borrow, then high rates.
LAUER: But Erin, the debt ceiling sits at $14.294 trillion, as of just a few minutes ago, the National Debt Clock shows us that right now it's at $14.286 trillion, increasing by the second. Why does it go up so quickly?
ERIN BURNETT: Well, it goes up because of all the obligations that we have, right? I mean, the debt ceiling is really – we've got Social Security, you've got Medicare to pay, all the entitlements, defense. I mean, everything you're spending comes out of there. The problem is our revenue, what the government takes in, in taxes. What you pay every month out of your paycheck is way smaller, in fact, it's only somewhere around $2 trillion a year.
CRAMER: Oh, a fraction, just a fraction.
BURNETT: So that difference is what we borrow.
LAUER: Just so – when people just heard a week worth of talk over this budget battle and they hear now that $38 billion will be cut from the budget and they say, 'Well, why is the debt going up so quickly?' How are they related or not related? Go ahead.
BURNETT: Well, that – I mean, first of all, as you, I think, aptly point out, that's a drop in the bucket.
LAUER: Right.
BURNETT: I mean, the amounts we're talking about are a drop in the bucket. They are related, but really, to tackle this issue, we do have to tackle entitlements. When you look at Medicare and Social Security, it's 40% of our budget. Unless we decide they can't go up so quickly, do we need to do more means testing? What are we going to do? Those are the questions we have to answer, but not through playing chicken on the debt ceiling.
LAUER: Let's keep this to the reality here, Jim. According to a lot of estimates, somewhere in the middle of May we will reach that debt ceiling.
CRAMER: Right.
LAUER: What happens the minute we hit it?
CRAMER: What will happen, they'll try to extend it to July, but there'll be these rating agencies – the S&P, Moody's – these determine how much you're allowed to borrow. And they will suggest that you shouldn't invest in U.S. debt if you're Chinese, if you're Arab. That's who pays it, by the way, we don't buy it. The Chinese buy it, the Middle East, that's who buys it. And they will be saying, 'You know what? Why should we do this? Why don't we go buy the debt of the Germans? Go buy the debt of the French?'
LAUER: So then we lose our abily to borrow money.
CRAMER: That's what's going to happen.
LAUER: We lose our ability to pay our bills. What is it – what is the effect on the overall economy at a rather fragile time for recovery?
BURNETT: Well, it would become much more expensive to borrow. And anyone in the past few years who's gone through the financial crisis and realized your mortgage rates go up, or your credit card rates go up. That's what would happen to us as a country. I think one thing that's important to remember, Matt, is we are a very wealthy country. If you look at our assets, we could pay down the debt tomorrow. We choose to borrow because we can borrow at incredibly low interest rates.
CRAMER: It's easy.
BURNETT: Our country, because we are the safest country in the world, has this ability to borrow. And to choose to borrow and pay it down later. Other country's don't have that choice, we have it-
CRAMER: But that can go away.
BURNETT: It can go away.
CRAMER: It can go away.
BURNETT: And that's the risk we're – we have right now.
LAUER: Are we most likely to see some kind of major compromise here?
CRAMER: We have to.
BURNETT: Yeah.
CRAMER: I mean, it's too bad there's so much hatred on both sides, because everyone's playing with fire. Because you don't – we are no better than these European countries that are in trouble if we can't get this debt ceiling.
LAUER: Jim Cramer, Erin Burnett, thank you very much. You can catch their shows on CNBC. Mad Money, weeknights at 6:00 and 11:00 Eastern Time and Erin on Squawk on the Street at 9 a.m. Eastern and Street Signs at 2:00 p.m. Did I get it all in, guys?
CRAMER: Yeah.
BURNETT: Yes.
LAUER: Okay, good.
— Kyle Drennen is a news analyst at the Media Research Center. You can follow him on Twitter here.
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Comments
Well, raise an asset tax there, Erin....................
Submitted by merly1 on Mon, 04/11/2011 - 12:59pm.
Of course, the ultrawealthy in Congress, ie Pelosi's, Boxer's, Kennedy's, etc would never go for that idea, would they Erin" Oh wait, there are no more Kennedys in Congress, right?, only a plethora of ultrawealthy other Dems............... ;o)
Wealth is not the same as income, and that simple concept has been destroying this country for decades when the megamillionaires, probably a majority of them = Dems, write the tax laws in Congress.
Pardon?
Submitted by evets11 on Mon, 04/11/2011 - 9:21pm.
The article was about the debt ceiling and taxes. A quick refresher for you. Clinton ran a balanced budget 3 years in a row, over objections from Newt's cabal. Bush Jr. let all that money fly out the window and never attempted to pay for ANY of his big programs or wars (traditionally, a war means raising taxes). And last, but not least, last November/December, when the Bush tax cuts were set to expire, the Republican minority in the Senate filibustered everything to make sure the top 1 percent of this country kept their tax rate at 35%, instead of returning to the fiscally responsible 39%. That increase would have been worth at least 60 billion (that's BILLION) a year. Erin is absolutely right. We have a revenue problem.
How about the other 50% of
Submitted by MaximusBraveheart on Mon, 04/11/2011 - 9:55pm.
How about the other 50% of the country chip in eh? That is 50x more people who will directly "benefit" by actually paying (say a 20%) tax on their income. If you believe the stuff you are saying, then please be willing to double your IRS check to help out. As a matter of fact then, pay triple since there are now 3 fronts. It is SUCH a good deal! We can't get enough!
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
Looks like you have almost
Submitted by Scuba Dude on Mon, 04/11/2011 - 10:17pm.
Looks like you have almost touched on all the libturd talking points.
Not only that
Submitted by Rukus on Tue, 04/12/2011 - 10:08am.
Hmmm, a troll that spells his name backwards... oh, we've never seen that before have we. I smell retread.
Rukus, Is it possible we
Submitted by Scuba Dude on Tue, 04/12/2011 - 11:36am.
Rukus,
Is it possible we are seeing the return of Steve05? Now in his 11th reincarnation?
What a friggin moron he was/is. To bad all are comments showing what an idiot he is was lost in the Great NewsBusters Reboot of Oct 10.
Hey Vet!!! You didn't by chance keep some of them saved somewhere?
Pardon Evets
Submitted by Boudin on Mon, 04/11/2011 - 10:37pm.
Who wrote and passed that budget? Clinton signed it, but he didnt do any of the heavy lifting, opting to ridicule Newt and others instead.
60 billion wont even pay the interest on the current budgets shortfall. We are spending up to 8x's what is funded. Even when you steal it from the Rich, where you going to get it next time?
Simple math illiterates like you, are why we are in the shape were in. Please explain why you think the Fed is obligated to spend more then they have? Thanks in advance
Note to RNC (good line)
Submitted by MaximusBraveheart on Tue, 04/12/2011 - 9:15am.
"Please explain why you think the Fed is obligated to spend more then they have?"
This message should be clear to the public.
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
@evets
Submitted by Samshile on Tue, 04/12/2011 - 5:40am.
We have not had a balanced budget since 1956 and 1957.
Clinton did not have a balanced budget. Why would Republicans save the wealthy since more of them are Democrat nowadays?
She's Right
Submitted by FAR52 on Mon, 04/11/2011 - 12:59pm.
We do have a revenue problem. We have 8.8% unemployment -- probably closer to 15% real unemployment. Revenues would go way up if we got unemployment under control.
that's why I was thinking, as well - less contributors
Submitted by mom_rox on Mon, 04/11/2011 - 1:35pm.
Okay, so payroll revenue is ~2T, our national debt is ~14T, so per Obama Math, we just need to increase payroll taxes 700%, right? ;)
Erin's unstated solution
Submitted by neutron on Mon, 04/11/2011 - 1:54pm.
Erin "Error" Burnett didn't say it, but the obvious Liberal solution is for the 51% of American not on the public dole to get a big raise to go with the even bigger tax increase of Federal, State and Local taxes.
All the Libs need it to mandate that everyone earn more, and the math will work out just fine. /sarc
Taxes will NOT close the spending gap.
Submitted by jackieaxe on Mon, 04/11/2011 - 3:30pm.
Given we are spending $1.50 for every $1.00 of revenue, everybody who pays taxes, social security and FICA would have to pay 150% of what you pay now to get near a balanced budget.
You're right -- even if the
Submitted by trak65 on Mon, 04/11/2011 - 5:00pm.
You're right -- even if the Clinton tax increases had been fully implemented this year, nobody projected increased revenues of more than c. $400 billion (most from the not-so-rich). Still would leave $1.2 trillion to reckon with this year.
I've always liked Erin so I will rise to defend her comments. Revenues are down vis-a-vis the high-growth, low-unemployment years. She's not very articulate, but I think that's what she meant.
She's (unfortunately) right on the debt ceiling. It's great to hold the Dems' feet to the fire, but it will take multi-year ratcheting down of spending to stop deficit spending compeletely. So, we will have to increase the debt limit. I hope it will be in small increments so it can come up for debate often with big splashy cuts each time.
Finally, the "assets" comment is basically just saying that right now we can still borrow....we still have lenders' confidence as demonstrated by their willingness to lend at low rates.
(Lauer + Kramer + Burnett)/A GE Network Show = Tax Love
Submitted by Sgthulka on Mon, 04/11/2011 - 1:01pm.
What could go wrong listening to 3 NBC network employees talk about taxes?
Would any rational viewer expect them to say anything less?
Listen to Kramer lately? How are your investments doing?
Submitted by David Kramer on Mon, 04/11/2011 - 1:09pm.
LOL, is this guy Cramer still saying that munies and government bonds are a good investment? LOL
I do not listen to people on CNBC for my investment advice, they can hardly add 1+1 let alone attempt to describe the problems of liquidity and sovereign debt.
The latest information I found interesting is that one of Soro's investment firms are buying up grain elevator companies. Hmmmm, does that give you an idea of the current problem?
Listen to someone like these folks or say Bawney Fwank before the 2008 financial crisis and NOW you STILL listen to them, you deserve everything your poltfolio will show.
Might just as well listen to the Romer interview a couple days ago saying that Quantitative Easing was good for average Americans. Talk about an interview of epic foolishness, just listen to that thing. WOW there is something called doublespeak, in the definition they have that interview highlighted!
CNBC
Submitted by Unsane on Mon, 04/11/2011 - 2:39pm.
CNBC is a good source of business/investment information. Advice? I'd suggest that there is no good source of investment advice anywhere, except for very broad no-brainers.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
If that's the case . . .
Submitted by Lakewood Ed on Mon, 04/11/2011 - 1:11pm.
. . . let's just cash in one of those assets. What did you have in mind, sweetie?
The Washington Monument? What's that worth? Mt. Rushmore? Help me here.
Maybe we can sell off San
Submitted by Scuba Dude on Mon, 04/11/2011 - 1:18pm.
Maybe we can sell off San Francisco. We sure as hell can do without it. :-)
Scoobs....Speaking of San Francisco
Submitted by Blonde on Mon, 04/11/2011 - 1:23pm.
I swear to you, I just posted this about ten minutes ago.
The walking dust mop.
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 200 (and Counting)
Blonde, what can I say?
Submitted by Scuba Dude on Mon, 04/11/2011 - 3:18pm.
Blonde, what can I say? GMTA.
Cute picture of the mooch, he has a "What the heck are you bothering me for" look on him. :-)
If you vote DEM you get
Submitted by MaximusBraveheart on Mon, 04/11/2011 - 1:13pm.
If you vote DEM you get imposed 2x the tax rate as your "bonus." It is only fair & right!
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
Erin, Erin, Erin. Do try
Submitted by Scuba Dude on Mon, 04/11/2011 - 1:16pm.
Erin, Erin, Erin. Do try and get out into the real world or try and listen to your colleague Rick Santelli. We do NOT have a revenue problem, we have a spending problem.
I used to enjoy watching you on CNBC back before my company moved to a new building that did not have a TV in the pantry, but now you are showing more and more the liberal roots from your upbringing and your stint at a GE owned network. How stupid can you be?
If you are making $75,000 dollars a year in salary and your expenses are $95,000 do you go to your boss and demand that they bump your salary 20k or more? Or do you do what most normal people do, look at what is causing their expenses to be so high and work to bring them down?
The Government needs to do the same thing, cut the spending, cut the tax rates for everyone and corporations and let us (us being We The People) start working on getting our economy back onto the right track.
EIB
Submitted by Unsane on Mon, 04/11/2011 - 2:38pm.
I still enjoy watching Erin Burnett. Unfortunately, I use the mute button when watching her.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Erin Burnett
Submitted by Blorg on Mon, 04/11/2011 - 1:17pm.
Does. She. Understand. The. Words. Coming. Out. Of. Her. Mouth?
If...
Submitted by retrocon on Mon, 04/11/2011 - 1:24pm.
If every wealthy billionaire who advocates higher "income" taxes would just give the government 1/2 of their net worth every year, we wouldn't have a problem. Oh, wait, they don't want to give any more, they want WORKING people with paychecks to pick up their tabs, too.
Change the world, do these two things:
Move to a consumption tax.
Eliminate the corporate protections that shield decision making executives from any responsibility for "bad decisions."
P.S. and what makes this "correspondent" an expert on the debt ceiling?
NBC's Revenue Problem:
Submitted by Comrade Jim on Mon, 04/11/2011 - 1:29pm.
NBC is paying way too much for incompetent analysis.
She needs to be fired. The
Submitted by Beukeboom on Mon, 04/11/2011 - 1:33pm.
She needs to be fired. The problem is with spending, not revenue. Is that such a hard of a concept for these yahoos to understand and comprehend?
Apparently we are not giving enough.
Submitted by NeoKong on Mon, 04/11/2011 - 1:44pm.
" What you pay every month out of your paycheck is way smaller, in fact, it's only somewhere around $2 trillion a year."
A measly two trillion....? Who can survive on that ?
Maybe I missed but did Kramer or Burnett mention even once that we need to cut spending ?
OUR assets?
Submitted by CobraMan on Mon, 04/11/2011 - 1:53pm.
"If you look at our assets, we could pay down the debt tomorrow."
OUR assets? You may not be aware of this, Sweetheart (and I use the term loosely) but the vast majority of those "assets" are owned by individuals, companies, museums, States, etc. They are NOT owned by the federal government. The federal government could sell off all of it's own assets and it would only cover about 40 percent of the current debt. Don't even THINK about taking the assets away from anyone else. They don't belong to you!
The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States. The US Constitution
Unless you're a fetus. The US Supreme Court
Or Anwar al-Awlaki.
our assets? Call Dave Ramsey
Submitted by Agnostic on Mon, 04/11/2011 - 2:28pm.
Assuming you could actually sell the assets in question. When you do sell and find that Book/assessed value is much different then real value - what then. Anybody think the government might have inflated values for their assets considering their inflated opinions of so many thing?. The government should sell off some of its assets but only as a "baby step" to working on the budget. Maybe pipe Dave Ramsey into the Congressional Halls.
Here's The Problem
Submitted by Bourbeau on Mon, 04/11/2011 - 1:53pm.
Whatever Comcast is paying Erin Burnett, it's too much. She's a smart young lady, but people like her look for comfortable settings to expound on their beliefs. Whatever she thinks, she doesn't have a clue how to fix the problem except to mouth the headlines one can get just surfing Drudge, the NY Times, Real Clear Politics and Newsbusters; it really doesn't take a lot. Have her go one on one w/Paul Ryan and see how well she does interviewing him and challenging his assumptions in his budget; she'd collapse from fright. That's the problem we face is when nice, well spoken hosts, are giving a podium to mouth their superficial opinions without have a real clue what they are talking about. It's just another example of dead air.
What is Info Barbie talking about?
Submitted by JLin on Mon, 04/11/2011 - 1:57pm.
What credentials does this little chickie have to discuss anything of import? You've got to be kidding me. She probably still drives the Lexus daddy gave her for graduating college.
It isn't lack of revenue...
Submitted by PrairieSky on Mon, 04/11/2011 - 10:05pm.
you twit...It's too much spending. When will these libs ever understand that? They just don't get it, and probably never will.
"Freedom is never more than one generation away from extinction...It must be fought for, protected, and handed on for them (our children) to do the same." ~President Ronald Reagan
Erin Burnett, a living
Submitted by Beukeboom on Mon, 04/11/2011 - 2:26pm.
Erin Burnett, a living example of the results which occur when the brain is starved of oxygen.
Forget it!
Submitted by jon_torlin on Mon, 04/11/2011 - 2:37pm.
Her beauty is not enough to overcome her absolute stupidity.
If I was a fan of her before, I ain't one anymore!
I could not stand being with someone like that for too long.
I'm not sure what the hell happened to her, but she's past the point of no return to common sense.
-Jon
jon...What does her appearance have to do with anything?
Submitted by PrairieSky on Mon, 04/11/2011 - 3:09pm.
"Her beauty is not enough to overcome her absolute stupidity." No, it isn't, and it shouldn't ever be.
I don't care how pretty a woman is or how good looking a man is, if they're stupid, they're stupid. Why is it that good looking women (more so than men) are sometimes given a pass when they do or say something dumb, just because of their looks? Brains and beauty...the two have nothing to do with each other. Some really great looking people are also really dumb.
"Freedom is never more than one generation away from extinction...It must be fought for, protected, and handed on for them (our children) to do the same." ~President Ronald Reagan
beauty and brains
Submitted by jon_torlin on Mon, 04/11/2011 - 4:02pm.
At one time, she did have the wonderful combination of "beauty and brains" but it seems like the Nothing But Crap sucked her brains out leaving a shell. I know it's nothing to do with each other, just saying.
And some people might give them a pass because of their looks, I don't.
I know some guys who would be like "but she's gorgeous!" And my honest reaction would be "So?"
-Jon
Fair enough...Maybe...
Submitted by PrairieSky on Mon, 04/11/2011 - 4:24pm.
Ms. Burnett fell victim to the rampant liberalism and Obama-itis that the rest of her MSM brethren suffer from....Whatever...But pretty or not, wrong is wrong, and dumb is dumb, and she is both.
"Freedom is never more than one generation away from extinction...It must be fought for, protected, and handed on for them (our children) to do the same." ~President Ronald Reagan
It's the Obama CRACK!
Submitted by MaximusBraveheart on Mon, 04/11/2011 - 5:04pm.
Once you start up & are hooked, you go downhill fast! I was at college one day studying in the sun on the square. A crack lady comes up & lifts up her shirt & says, you want some of this? YUCK! The ravages of drugs! So sad! Obama is dealing the progressive crack. It SEEMS to make all your problems go away. Operable word is SEEMS. It really makes it worse! The Country is in a big toilet and it is starting to swirl its last before going down like a turd to the sewer.
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
Yuck is right...Where...
Submitted by PrairieSky on Mon, 04/11/2011 - 5:56pm.
did you go to school?? I hope this wasn't a frequent occurrence.
Boy, that Obama crack has some effect on people, huh? Looks to me like pretty much the entire MSM should be in rehab because of it, too.
"Freedom is never more than one generation away from extinction...It must be fought for, protected, and handed on for them (our children) to do the same." ~President Ronald Reagan
Home of Woody Hayes if you
Submitted by MaximusBraveheart on Mon, 04/11/2011 - 10:13pm.
Home of Woody Hayes if you know college football. Some "disadvantaged" (lazy drug users, & sellers) people lived in the area. AND it gets better: In addition to that, I got sucker punched in the face several times by 6 large minorities after leaving an ATM. Had a job interview that weekend. Got away & did not fall fortunately. Had to run into High Street to escape. Also got shot in a break in (white druggies). Rapes were very common. Police did crap to catch anyone. You must be dead for them to "care." Nice. Real nice.
We need a new continent to ship offenders off to. Will Australia still take them? Singapore? Now that would be funny. They could make short work of them.
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
"Home of Woody Hayes if you
Submitted by Beukeboom on Tue, 04/12/2011 - 11:01am.
"Home of Woody Hayes if you know college football."
Just remember to never punch opposing players.
See you needed a good defense
Submitted by MaximusBraveheart on Tue, 04/12/2011 - 12:08pm.
See you needed a good defense to be there. He did a preemptive strike!
That reminds me of another story. After I got better. I started taking TKD. One of the black belt students would enjoy looking for criminal action in situ. He would come to the defense & beat the **** out of the criminals. Then he would leave & not wait for the cops. Kind of a caped crusader.
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
HARD TO BELIEVE
Submitted by Herbster on Mon, 04/11/2011 - 2:45pm.
Hard to believe that we have another airhead to add to the Mika/Greenspan/Brewer/Clift, etc., pile of nothingness. Burnett must be taking economic lessons from that paragon of economic understanding, everybody's favorite, a woman who should be the Treasury Secretary or head of the Fed, an eonomic genius to rival any economist who ever lived.....POPPY HARLOW! Let's put Burnett and Poppy Baby on as a talk show. It could be called, "Everything I don't know about economics." I read the whole transcript here and could hardly believe the pure drivel coming out of Burnett's mouth. Memo to Larry Kudlow......Leave CNBC and jump to Fox Business......before it's too late. Beware the Burnetts of the world.
THERE IS NOTHING MORE FRIGHTFUL THAN IGNORANCE IN ACTION.
Herbster, let us not forget
Submitted by Scuba Dude on Mon, 04/11/2011 - 2:58pm.
Herbster, let us not forget Rick Santelli. He too should make the jump from CNBC to Fox Business. I also believe Michelle Cabruso-Cabrerra is a libertarian, she too should make the leap. CNBC will shrivel away if Larry, Rick and Michelle left.
Let's not forget...
Submitted by Unsane on Mon, 04/11/2011 - 5:36pm.
Becky Quick. She, after all, had the audacity to suggest that "At some point, people are going to have to start taking care of themselves" as pointed out on NB some months ago.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
I have to ask...
Submitted by Unsane on Wed, 08/10/2011 - 11:24pm.
Who, or more accurately, what kind of people, name their daughters POPPY????????
Seriously. POPPY???
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
I'm not too sure that's what she meant by "our assets"
Submitted by OffTheLows on Mon, 04/11/2011 - 2:51pm.
though if you sold off all federally owned land, all gold held, all foreign bonds, spectrum, oil and mineral rights, privatized all federally owned roads, etc you likely would still be far short of our debt obligations, and undoubtably would be if nothing was done to change the current fiscal trainwreck medicare to a defined contribution structure.
Matthew's honey
Submitted by zachlind on Mon, 04/11/2011 - 3:02pm.
Seems like on one of Chris Matthew’s shows in the past he designated Burnett his main fantasy squeeze? Something about asking her to get closer to the camera for a better look, I just don’t remember the details.
Zachlind, that happened
Submitted by Scuba Dude on Mon, 04/11/2011 - 3:11pm.
Zachlind, that happened before Chrissy developed a crush on the Absentee President. Here is the clip of the pervert Matthews with Burnett.
wasn't hard to find
Submitted by mom_rox on Mon, 04/11/2011 - 3:22pm.
just had to search for "leering Chris Matthews Erin Burnett". P.J. Gladnick's newsbusters post shows the creepy transcript. Good memory, zachlind.
Wow, if I had known people
Submitted by rbosque on Mon, 04/11/2011 - 3:38pm.
Wow, if I had known people with journalism degrees were so smart with simple economics, I would have dumped my economics degree a long time ago and went with that!
Do these people ever get the sense that they are just embarrassing themselves every time they open their mouths?
B.A., Political Economy
Submitted by Unsane on Mon, 04/11/2011 - 5:39pm.
Worse, Erin Burnett does not have a degree in journalism. A look at her bio on the CNBC page reveals that she has a B.A. in political economy from Williams College in MA.
She learned precious little from people such as Cobden, it seems...
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Her degree needs to be
Submitted by Beukeboom on Tue, 04/12/2011 - 11:01am.
Her degree needs to be recalled/rescinded.
The Problem
Submitted by The Irishman on Mon, 04/11/2011 - 4:00pm.
Is abortion if I understand correctly. Fewer humans mean less money pumped into social security. Fecundity is your friend.
Yes, Zippers, you definitely are an expert on fecundity,
Submitted by SickofLibs on Mon, 04/11/2011 - 5:05pm.
AKA the ability to reproduce.
Dingbat
Submitted by The Irishman on Mon, 04/11/2011 - 6:09pm.
Is ZIPPERS like TROLL? Lots of namecalling, little substance.
I'll give you credit for defining words. Excellent work. Really.
I'm on you, Zippers.
Submitted by SickofLibs on Mon, 04/11/2011 - 10:12pm.
Just a matter of time, as usual.
You're on me?
Submitted by The Irishman on Tue, 04/12/2011 - 9:50am.
I don't even know what that means.
We're getting the Shanklin Parody of
Submitted by Blonde on Tue, 04/12/2011 - 11:12am.
.....da Reverend Jesse "Who Me?".
Well played, Zipp. You haven't done that in at least the last three iterations.
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 200 (and Counting)
Erin Goes Batty. This rant
Submitted by eaglewingz08 on Mon, 04/11/2011 - 4:54pm.
Erin Goes Batty. This rant is typical of liberals. They identify a sort of problem, say Social Security going bankrupt. But then say, nobody's doing anything about it and it represents a gazillion percent of the budget. So we can't do anything about the rest of the budget unless we attack SS. Of course these democraps want republicans to 'attack' SS, because they believe they will be able to terrorize seniors to vote for democraps. However, the underlying liberal argument is wrong. Even if we assume that SS is forty percent of the budget, it doesn't mean that we should be precluded from looking for savings in any other program run by the government. That's like saying, because you have to pay a mortgage, you don't have to look for savings in the other areas of your budget when times are tough. In fact, if the repubs didn't look for savings in other parts of the budget before tackling these entitlements, these same libtards would be saying that repubs are so bloodthirsty and cruel that they didn't even have the compassion to look for savings outside of entitlements before throwing Granny under the bus.
We need repubs with spines of steel, because the vituperation that will be unleashed against them by the partisan democrap media, in the next few months will be apocalyptic in degree.
Another concerned liberal
Submitted by LAM SON 719 on Mon, 04/11/2011 - 5:00pm.
politician, I would say something sterotypical but everyone can figure it out for themselves.
http://washingtonscene.thehill.com/in-the-know/36-news/9071-amid-shutdow...
Again with calling Social Security
Submitted by BikerHoop on Mon, 04/11/2011 - 5:06pm.
... an entitlement. That's like calling your savings account an entitlement. People, including myself, have contributed their hard-earned greenbacks to Social Security, albeit not by choice. Granted, given the choice, I would rather have put it somewhere where it would have done me some good and earned a little interest, but it is my money nonetheless. So, how come when I get my money back it's called an entitlement?
erin the revenue generator
Submitted by east tennessee john on Mon, 04/11/2011 - 6:56pm.
Hey Erin, guess what: You could confiscate 100% of the upper 1%'s income and your guy, BO would still be $500 billion short. Dope
How about a 'Liberal Media Tax'?
Submitted by Slyrr on Mon, 04/11/2011 - 6:56pm.
I still don't hear any of these liberal/Obama media whores volunteering to surrender THEIR money.
It's always everyone else's money they want to spend. Until this woman empties her back account, and hands it ALL over to Obama, she has no right to speak. None at all. Let her put her money where her big, fat mouth is, if she's so all-fired anxious to give it away. Let her lead by example.
How about a 'liberal media tax'? If you're a member of the liberal media, and you're on record calling for higher taxes - your tax rate becomes 99.99999999% deducted. I guarantee Obama's liberal media slaves will be frothing for 'lower taxes' before the ink is dry.
No, Stupid . . .
Submitted by justbob223 on Mon, 04/11/2011 - 7:15pm.
The problem is not revenue, it is spending. Idiot.
Dickens
Submitted by Redrowan2000 on Mon, 04/11/2011 - 7:16pm.
Mr. Micawber boiled down our fate in David Copperfield:
"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
We are in financial misery due to overspending politicians who rape the American taxpayer every chance they get and have for the past 200 years..
"Don't let the bastards grind you down."
the problem is revenue!!
Submitted by edhumphreys on Mon, 04/11/2011 - 8:02pm.
"That's right your Honor, I didn't pay my mortgage, electric bill, or any of my other bills because my paycheck is too small." ... "No sir, my spending on beer, movies, the new car, and gifts to others had nothing to do with my bankruptcy."
Limit government, not people.
Wrong Erin
Submitted by Kansasgirl on Mon, 04/11/2011 - 8:30pm.
The problem isn't our revenue, the problem is the never-ending handouts. Pffft.
Hey, I have a NO
Submitted by David Kramer on Tue, 04/12/2011 - 12:56am.
Hey, I have a NO BRAINER.
Since Romer and all the other Brain Dead think that running debts is an okay thing, why not just print up $50 Trillion and give everyone millions, that will work won't it?
OH THE HUMANITY!
Where on earth.......
Submitted by Patriot II on Tue, 04/12/2011 - 11:15am.
Do they find these dumb ass ignorant bimbos? They are so pitifully stupid its unbelievable!!! Get their dumb asses off tv...put someone even "half" way intelligent on.....this bullshyt of thinking they are impressing someone by putting college level idiots on doesn't get it!! imo
That would likely lead to an
Submitted by MaximusBraveheart on Tue, 04/12/2011 - 12:01pm.
That would likely lead to an offensive statement against the party line. That would not be tolerable! The dumb you can lead around with nary a hook in their nose.
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
Where?
Submitted by Beukeboom on Tue, 04/12/2011 - 12:27pm.
"Where on earth do they find these dumb ass ignorant bimbos?"
Beauty pageants? Strip bars? Waiting in line to go see "Real Time w/Bill Maher"?
Right wingers are... Weirdly disconnected from reality.
Submitted by Giygas on Tue, 04/12/2011 - 10:59pm.
The conservatives are growing ever more divorced from objective truth as they call for even more redundant tax cuts for the wealthiest Americans and say that they are concerned about the deficit. Even if spending reductions as radical as those proposed by Paul Ryan were put in place, we would still be left with an enormous 14 trillion dollar deficit. Without an increase in revenue, this 14 trillion dollar deficit will not reverse.
I believe that using ineffectual ways to fight the deficit, like slashing programs that low income families depend on to feed their hungry children and to take care of their health, just so the millionairs and billionairs can keep their tax cuts is class warfare at its ugliest.
Divorced from reality?
Submitted by Blonde on Tue, 04/12/2011 - 11:05pm.
We're not the ones proposing to fund on the public dime "high speed rail" that would possibly move at 38 mph, at the cost of millions per mile.
We're not the ones who insist upon spending billions of public dollars on flawed environmental policies that enrich shams like Al Gore, Jeffrey Imelt, and other public scammers.
We're not the ones who insist upon spending billions of public dollars upon "education"...like the one you apparently were given, where you can't properly spell "millionaire" and "billionaire"....but whatever. I'd be happy to pay you $5 an hour to weed my garden.
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 200 (and Counting)
I don't mind so much the
Submitted by bkeyser on Tue, 04/12/2011 - 11:27pm.
I don't mind so much the occasional lefty drive-by post, but it always smells like burnt hair right after. {sniff} These people stink.
At least that smell covers up
Submitted by Beukeboom on Wed, 04/13/2011 - 9:43am.
At least that smell covers up the stench of the petrulli oils. Yuck.
Well, Giy
Submitted by NC Cop on Tue, 04/12/2011 - 11:06pm.
according to the last election, it's the left that's divorced from objective truth.
Now please, go peddle your regurgitated talking points somewhere else. Daily Kos would love to hear from you!!!
So as one of the " Wierdly dissconnected"
Submitted by Boudin on Tue, 04/12/2011 - 11:09pm.
Please explain how stealing wealth from industry creates wealth?
Hey, how about telling us when Gov ends and our lives begin,,, libtard. Thanks in advance
Tres mal, Boudin
Submitted by Blonde on Tue, 04/12/2011 - 11:12pm.
Ya'll get rid of those nice light bulbs, use the curly kind. And for cryin' out loud, don't send chocolate milk to school with your kids. And of course, NO SALT on your food. And drive a freakin' clown car instead of a vehicle that actually functions for your needs.
Need I go on?
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 200 (and Counting)
Exactly Boudin! Every dollar
Submitted by MaximusBraveheart on Wed, 04/13/2011 - 9:26am.
Exactly Boudin! Every dollar the goberment gets its hands on is a dollar either stolen from a family or from a company! The family would have spent it but now they can't. The company cannot spend it now either to hire new employees or just be solvent & ready to move on the next plan. Poof, it is gone to the disorganized crime of big government. Government does not create wealth and them moving dollars about is actually worse! WE know how to SPEND our money the most efficient. We have a vesting interest in using it wisely. The government doesn't!
The RNC needs to jump on this simple message also!
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
Get back to the point! How do
Submitted by Giygas on Tue, 04/12/2011 - 11:31pm.
Get back to the point! How do you plan to undo the 14 trillion dollar debt once all of your draconian cuts are issued without an increase in revenue?
Better question...
Submitted by bkeyser on Tue, 04/12/2011 - 11:35pm.
What measures would you advocate to remove ideological bias from the media?
1. All of the information
Submitted by Giygas on Tue, 04/12/2011 - 11:45pm.
1. All of the information should come from credentialed economists and scientists, not arm chair speculations from Hannity or Brent Bozell.
2. The media should advocate justice for all, not just the Plutocrats like the Koch brothers.
Your dodging of my questions....
Submitted by Blonde on Tue, 04/12/2011 - 11:49pm.
is giving me a clue.
I laugh at your posts.....do tell, whom do you consider to be credentialed economists....Paul Krugman and Tom Friedman?
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 200 (and Counting)
Garbage
Submitted by bkeyser on Tue, 04/12/2011 - 11:59pm.
It took all you could do to not type "fairness doctrine." Too bad you couldn't hide it better. You're little bio gave you away before you made your first post.
You're dismissed.
Alright gasser, give me a
Submitted by Beukeboom on Wed, 04/13/2011 - 9:46am.
Alright gasser, give me a specific percentage that you think is a fair amount for the "rich" (Obama's definition whatever that may be this hour) to have taken from their annual income?
For the Socialist thief
Submitted by Unsane on Wed, 04/13/2011 - 2:18pm.
So, now this Socialist thief is demanding things of us and barking orders at everyone around here.
I do not NEED nor REQUIRE a "credentialed economist or scientist" to know that the first rule of budgeting is SPEND LESS THAN YOU EARN. This is learned by those of us who are out in the Real World and actually have things like "jobs".
If you get $2 trillion in revenue, DO NOT SPEND $4 trillion.
This is simple math even I can figure out.
Got it, thief?
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Draconian cuts
Submitted by Boudin on Tue, 04/12/2011 - 11:41pm.
So much fun to see the dimwits wordplay in effect.
So are you suggesting we can continue to spend 8x what we make? Or should the Fed steal it all ?
Kindly explain exactly which cuts are "draconian"
Submitted by Blonde on Tue, 04/12/2011 - 11:41pm.
After you've gone into detail on that point, I may have a better idea how to address the rest of your question.
Handy Reference Guide to Obama's Gaffes and Goofs ~ Currently Numbering 200 (and Counting)
My, my, my we have ourselves
Submitted by Scuba Dude on Wed, 04/13/2011 - 8:43am.
My, my, my we have ourselves an economic illiterate little troll here.
Let's see, it has been shown in the past that tax cuts can actually generate MORE revenue. Revenue that can be used to pay down this deficit you and your ilk have helped create. What do you think people and companies do when they find they have some more money in their pockets? Well if they are financially stable with little or no debt they will spend it. They will purchase products and services. That is money that flows INTO the economy. Money that obviously will be taxed so there is more revenue for paying down debt. Companies will want to expand, they will hire people and when they do that they now have another person that is making a salary which of course gets taxed. MORE REVENUE!!!
Do tell me what "draconian cuts" are you talking about? Do you have examples? Of course you don't, most libturds do not have a clue about how things work and need to rely on the talking points of others.
On the Socialist Thief
Submitted by Unsane on Wed, 04/13/2011 - 2:19pm.
This clown is an economic illiterate driven by hatred and envy. No doubt that he has NEVER EVER heard of a little something called the Laffer Curve.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Giygas, You have a facebook link that will back that up?
Submitted by upcountrywater on Tue, 04/12/2011 - 11:14pm.
If you have EVER worked when was the last time you, got PAID from someone that has less money than you?
You Didn't Build That.
Shut up Zippers!
Submitted by Rukus on Wed, 04/13/2011 - 12:02am.
Well, seems my chances are hitting it right are pretty good... lately.
Yet another parasite
Submitted by Unsane on Wed, 04/13/2011 - 2:13pm.
Yet another Leftist poster that believes government should be empowered to steal from people.
Here's a shocking idea: instead of using the government to punish success and baby/reward failure, maybe YOU should get off of YOUR ass and help feel hungry children and take care of their health. For neither of those things are my problem. If I wish to give to a charity to help people who genuinely need help, that's my call, not yours.
The top 53% of income earners pay 100% of the taxes. Yet that's not good enough for you. What's next, you thief?
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
"The top 53% of income
Submitted by MaximusBraveheart on Wed, 04/13/2011 - 2:53pm.
"The top 53% of income earners pay 100% of the taxes. Yet that's not good enough for you. What's next, you thief? "
RNC needs to learn to start using language effectively like in your post. This is a time to show the truth with strength and not let the media lies and spin prevail as fact. People won't even listen if you don't whack them with the good old truth!
-- Maximusbraveheart -- Is TRUTH knowable? Moral Relativism is the abandonment of Truth. Truth is knowable. Truth conforms to Reality. Reality is observable by evidence & witness in this day & from history. Relativism is Sesame Street play land.
Economists and scientists?
Submitted by Redrowan2000 on Wed, 04/13/2011 - 9:18am.
Most have already skewered the drivel about economists, but the scientists? Are they the ones that proliferate the global warming theory? Is Al Gore considered a scientist in your eyes? Very weak .
Let the free market decide, just like they are doing now. The newspaper industry the horse and buggy company of our time is withering away, not only due to the internet but because of their slanted and biased views. Lets see who comes to mind? The New York times maybe? They have lost real circulation and are now trying to hold on by charging for left wing drivel on the internet. good luck with that one. The market will decide, much like in cable TV . Get some stronger points before you try that crap here.
"Don't let the bastards grind you down."
On a macroeconomic level debt
Submitted by mkall on Fri, 07/29/2011 - 4:16pm.
On a macroeconomic level debt and taxes are tightly connected together, we can't ignore this fact. We can pay the public debt more easily if the taxes are higher, the situation is reversed if we refer to private debt. High taxes make it more difficult to pay the private debt, we shouldn't make any confusions between these terms, a debt recovery agent explained it to me as well.
mkall
Submitted by Agnostic on Mon, 08/01/2011 - 3:10pm.
too simple. It is truly more about trends, confidence and established economic prospects that allow for the increase in funds. Higher taxes may harm, hurt or do nothing in the greater scope of economic expansion/contraction. Regardless of what the 'Think Tanks', politicians and media want people to think there is a bottom line - even to a government. You can owe money and still be a robust nation but it only goes so far and the worse off the world economy the less you can afford to owe.
Anything that can inject confidence into the economy will help toward true growth and only there can we find the real dollars to pay back our debt. The 'debt' on paper is another story but it does have to be paid and not by continued shuffling of paper money, federal loans, bond sales and other methods of kicking the can. The basics are that investments in America are debts we can have and still be strong - borrowed debts we can not continue to indulge in.
SPAM ALERT
Submitted by Unsane on Wed, 08/10/2011 - 11:28pm.
SPAM
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)