Congressman Pete Stark Explains Leverage, Tells Reporter To "Get The Fuck Out"

Quote from jficquette:

Money for nothing, get your chicks for free.
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At least Dire Straits made sense with their reference to MTV stars. This guy is a hooplehead.
 
We had the Graham Ruddman Act passed in the Regan Era.. it made congress live within it's income... Democrats took it to the courts and got it thrown out... they tax and spend, that's what they do... and they think that they are responsible for the economic miracle that the US used to be and are in denial about the destruction of that miracle..

The US was the most productive nation on earth form about 1815 onward!! There was no tax and spend, there was freedom...

Personally I just throw my income tax money at these assclowns and hope they stay the hell away from my family and my property... watching that video explains why Rome fell though.....
 
Quote from maxpi:

We had the Graham Ruddman Act passed in the Regan Era.. it made congress live within it's income... Democrats took it to the courts and got it thrown out... they tax and spend, that's what they do... and they think that they are responsible for the economic miracle that the US used to be and are in denial about the destruction of that miracle..
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And I guess the 8 years of Bush were just SPEND, SPEND, SPEND.

You talk about denial, but you conveniently ignore the fact that Bush and the Republican Congress doubled the national debt. Bush rarely used his veto pen, and the $1 trillion dollars spent on the Iraq War was never accounted in the budget, until now.

Keep drinking the partisan "Kool-Aid" dude. :D
 
No further comment necessary:

In the initial PAYGO regimen, enacted in the Omnibus Budget Reconciliation Act of 1990 (OBRA '90), by statutory requirement, if legislation enacted during a session of Congress had the effect of increasing the projected deficit for the following year, a "sequestration" would be triggered. A sequestration is an across the board spending reduction of non-exempt mandatory programs to offset this increase in the deficit, as calculated by the Office of Management and Budget.

These rules were in effect from FY1991-FY2002 [2]. Enacted in 1990, it was extended in the Omnibus Budget Reconciliation Act of 1993 and the Balanced Budget Act of 1997.
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The PAYGO statute expired at the end of 2002. After this Congress enacted President George W. Bush's proposed 2003 tax cuts (enacted as the Jobs and Growth Tax Relief Reconciliation Act of 2003), and the Medicare Prescription Drug, Improvement, and Modernization Act.[5] The White House acknowledged that the new Medicare prescription drug benefit plan would not meet the PAYGO requirements...After the expiration of PAYGO, budget deficits returned. The federal surplus shrank from $236.2 billion in 2000 to $128.2 billion in 2001, then a $157.8 billion deficit in 2002 -- the last year statutory PAYGO was in effect. The deficit increased to $377.6 in 2003 and $412.7 billion in 2004. [3] The federal deficit excluding trust funds was $537.3 billion in FY2006. [7] In the first 6 years of President Bush's term, with a Republican controlled Congress, the federal debt increased by $3 trillion.
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http://en.wikipedia.org/wiki/PAYGO
 
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