I have written recently how Congress, both sides of the isle, will readily lie to anyone and everyone when it comes to the subject of cutting spending.
"In Washington DC, if next yea's budget had been scheduled to increase by $200 billion for example, but Congress agrees on a budget with a $190 billion INCREASE, it is heralded as a 5% spending cut. Moreover, some politicians will use a ridiculously high presidential fiscal spending proposal as a baseline - even if it is NOT written into law - and then lie about so-called 'cuts' while not telling the electorate exactly how these phantom cuts were derived."
Apparently some members of Congress agree and Senator Coburn's speech spells out the outright lies of both the left & the right in this political charade.
http://www.c-spanvideo.org/program/SenRe/start/14756/stop/16376
"In Washington DC, if next yea's budget had been scheduled to increase by $200 billion for example, but Congress agrees on a budget with a $190 billion INCREASE, it is heralded as a 5% spending cut. Moreover, some politicians will use a ridiculously high presidential fiscal spending proposal as a baseline - even if it is NOT written into law - and then lie about so-called 'cuts' while not telling the electorate exactly how these phantom cuts were derived."
Apparently some members of Congress agree and Senator Coburn's speech spells out the outright lies of both the left & the right in this political charade.
http://www.c-spanvideo.org/program/SenRe/start/14756/stop/16376
In other news, Moody's says that either of these pathetic non-reduction "spending reduction" plans will indeed AVERT a downgrade from its rating agency. Umm, who wants to bet that the White House promised Moody’s chief economist, Mark Zandi, the next Secretary of the Treasury position when tax-cheatin-Timmy vacates the spot?
Trade Date: 7/29/11
E-Mini S&P Trades*
(before fees and commissions):
E-Mini S&P Trades*
(before fees and commissions):
1. OTF buy @ 11:04am at 1293.50 = -1.00 & -1.00 (2 lots)
2. Algorithm positions (0)
3. "Reading the Tape" positions (10) ...combined Secret's, Algo, & "Reading the Tape" total...+7.75
2. Algorithm positions (0)
3. "Reading the Tape" positions (10) ...combined Secret's, Algo, & "Reading the Tape" total...+7.75
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