STOCK MARKET WATCH -- Monday, 12 November 2012 (Holiday -- US markets closed)

[bread_and_roses]

62. "The Grand Bargain is a Grand Lie"

Telling it like it is, in plain language.

http://www.commondreams.org/view/2012/11/12-6

Published on Monday, November 12, 2012 by The Young Turks
The Grand Bargain is a Grand Lie
Why the scheme being negotiated in Washington is one-sided and totally unfair
by Cenk Uygur

First of all, let's establish that no one in Washington actually cares about balancing the budget...

Second, understand that this so-called compromise they are talking about in order to avoid this supposed calamity is a trick. In fact, it'll be the greatest robbery in American history...

... President Obama has proposed that the Grand Bargain include $4 trillion in savings. He has said over and over again that the ratio would be $3 in spending cuts to $1 in tax increases. This is before his legendarily disastrous negotiating begins. So, let's do some quick math. According to the president's own plan that would be $3 trillion in spending cuts, which is significantly higher than the current plan of $1.2 trillion in spending cuts.

Let me add one other fact, if all you do is let the Bush tax cuts expire for people making over $250,000, you would already have $1 trillion in tax increases. And we were told because of this election that was already non-negotiable. That's what we fought to make sure would happen and the president has guaranteed it. So, what exactly do progressives gain out of this Grand Bargain?

The reality is that this robbery is indefensible and my math here is irrefutable, that's why they will do this deal as quickly as possible.

... The Grand Bargain is a Grand Lie. Anyone who argues for it is either a fool or a charlatan.