Thursday, November 29, 2012

Truth On Fiscal Cliff Negotiations

Flopping Aces ^ | 11-29-12 | James Raider


We apprehensively advance through this nail biting moment in history as a great Nation floats, uncertain, caught in a holding pattern, hoping its leadership will find wisdom enough to avert the so called Fiscal Cliff, even if most of us don’t fully comprehend what such a cliff entails, or even if such a thing exists. We’re too busy struggling, hanging on to whatever we have, hoping for stability, and hoping that tomorrow brings some relief to our stress.
So let’s look for a little insight into what astute and gifted minds are really doing deep in the core of the negotiations apparently so critical to the very future of the Nation. Let’s dig for a sign of prescient coherence determining the very nature of our future.
Here is a discussion/interview which John Mauldin recently conducted with Rob Lehman and David Krone, the chiefs of staff for Senator Rob Portman (R-OH), and of Senate Majority Leader Harry Reid (D-NV), respectively. Lehman and Krone are two very key individuals in the current budget negotiations. Mauldin, who writes on economics and investments, usually refrains from using an ideologically tempered pen. Late in the somewhat non-descript forty minute discussion, a head snapper gets dropped by Lehman, who works on the Republican side of the negotiating table.
At minute 37:00 of the linked video Lehman (R) makes a statement about spending. “We’re talking about reductions in the growth of spending.” He confirms that there will be no reduction in spending. Krone (D), sitting next to him, is drooling out of camera shot. Washington does not spend less year-to-year. Ever. Is that clear? Negotiators are only negotiating amounts of spending increases and areas of such increases in spending. That’s it. Don’t believe anyone standing at a podium performing waffling prevarications in Washington while making claims of imminent spending cuts.
(excerpt) Read more at floppingaces.net...

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