Arvin Vohra & Mark Grannis comment on debt ceiling agreement

[decapitatespammers]

People, repost this video, with permission; this desperately needs to be seen by more than 3000. Tha count here now is desperate and depressing.

This and the Economics 101 series are essential for our fiscal survival and education thereof.

P.S. 1:44 to 2:11 diminishes its powerful broad efficacy. While I personally agree, I would separate that portion for Capital L target audiences. Everything else here crucially, crucially needs to be heard by those unwittingly drinking the Kool Aide.

[carolmoore]

Let's have two women in the next one :-)

[JudgeNapolitanoFTW]

how about we stop digging and start filling in the hole?

[pyroman4477]

Enough Bipartisanship! Excellent video.

[nightpotato]

Arvin Vohra!

[billbobiguns]

and then to guarantee the spending of $1.5 Trillion in deficit each year, is a plain old lie. The CBO baseline is Trillions over actual deficit spending for each fiscal year. What a deceit... They're all just meat puppets...

[billbobiguns]

What's really disgusting about this "deal" is the unconstitutional committee that makes spending decisions in the future as well as the make-believe cuts. They aren't cuts at all but spending amounts that equate to less than the congressional Budget Office baseline budget projected for 2012. The CBO's projected baseline is always WAY over actual spending and is ALWAYS very high in deficit. To say they are reducing spending at almost $1 Trillion over the next ten years, ($100 Billion per year),

[rbiales]

Standard & Poor's will still downgrade our credit rating. They know the deal is a fake. Further, even if it did really cut $2.5 trillion as claimed, they would still likely downgrade our credit as they were looking for $4 trillion in cuts.

[TripleOutcast]

@rbiales But then, who cares what S&P says anyway? They rated garbage Mortgage-Backed Securities as "AAA." Why do we still listen to them?

[rbiales]

@TripleOutcast It matters because that is what the politicians claim we are preventing by reaching this deal. They say it will raise interest rates. Maybe it will. It says it will cost us an extra $1000 a year in mortgage costs. Trouble is most mortgages are fixed and wont be affected. Further Interest rates are artificially low... Including interest paid to you on your savings and CDs.

[MrCyberhazard]

I have overcharged my credit card by a couple of thousand dollars and cannot make anything but interest payments. The CC company called and I told them the solution is simple: Just RAISE MY LIMIT and I will continue using the card which will help me and the stores, and the CC company will continue getting interest payments!!

[1eyednewt]

@MrCyberhazard Brilliant comment!