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-   -   US budget cuts come into effect. (https://www.cableforum.uk/board/showthread.php?t=33692272)

Osem 02-03-2013 13:25

US budget cuts come into effect.
 
Quote:

US President Barack Obama has signed into effect a wave of steep spending cuts which he has warned could damage the US economy.

The cuts - known as the sequester and drawn up two years ago - will take $85bn (£56bn) from the US federal budget this year.

Last-ditch talks at the White House to avert the reductions before Friday's deadline broke up without agreement.

The IMF has warned the cuts could slow global economic growth.

The BBC's Mark Mardell in Washington says the cuts were designed to be so brutally painful that politicians would be forced to agree on a better way of balancing the books.
http://www.bbc.co.uk/news/world-us-canada-21638727

If that's true it appears to have backfired, for now at least... :erm:

papa smurf 02-03-2013 13:55

Re: US budget cuts come into effect.
 
capitalism at it worst :td: a few people putting their own self interest first at the expense of an entire nation .

mertle 02-03-2013 14:37

Re: US budget cuts come into effect.
 
Quote:

Originally Posted by papa smurf (Post 35543383)
capitalism at it worst :td: a few people putting their own self interest first at the expense of an entire nation .

totally spot on did read my link Austerity is not the way. Will repost it here. Even some top well respected economist now saying its madness and wrong.

http://www.businessspectator.com.au/...rc=sph&src=rot

Why the capitalist so bloomin stupid to tank the USA who actually shown they coming out of it. Could abama told them to just take a hike refused.

I can only imagine how this going to hurt world.

Who runs governments leaders or these parasites.

By getting production working will only be way forward.

Think the mega rich of this world want a world war to kill the classless. I hope they go all broke for there crazy atitudes. Sadly they just getting stupidly richer from these austerity methods. PURE snorting Greedy lowlifes they are.

I starting believe governments should take the fight to them. If they want battle lets be as brave Abraham Lincoln take the fight to them.

I thought this was good article

http://www.guardian.co.uk/business/e...-myths-sustain

These money men got learn stop tanking the worlds economy.

Chris 02-03-2013 14:52

Re: US budget cuts come into effect.
 
What? Did either of you actually read the report? This has smeg all to do with capitalism and everything to do with the fractured political system in America which has given one party absolute control over the executive and the rival party effective control over the legislature, at a time when both parties are ideologically further apart than they have been at any time in decades.

This is all about politicians on both sides of the American system playing power games at the expense of people's livelihoods.

papa smurf 02-03-2013 15:10

Re: US budget cuts come into effect.
 
Quote:

Originally Posted by Chris (Post 35543394)
What? Did either of you actually read the report? This has smeg all to do with capitalism and everything to do with the fractured political system in America which has given one party absolute control over the executive and the rival party effective control over the legislature, at a time when both parties are ideologically further apart than they have been at any time in decades.

This is all about politicians on both sides of the American system playing power games at the expense of people's livelihoods.

it was probably written by a capitalist ,blinded by the bling of their capitalist trappings aka the american way [look after no 1 first] and sod the rest .

capitalist swine that they are ;)

---------- Post added at 14:10 ---------- Previous post was at 14:03 ----------

Quote:

Originally Posted by Chris (Post 35543394)

This is all about politicians on both sides of the American system playing power games at the expense of people's livelihoods.

ask yourself are they capitalists ????

mertle 02-03-2013 15:38

Re: US budget cuts come into effect.
 
[QUOTE=papa smurf;35543398]it was probably written by a capitalist ,blinded by the bling of their capitalist trappings aka the american way [look after no 1 first] and sod the rest .

capitalist swine that they are ;)

---------- Post added at 14:10 ---------- Previous post was at 14:03 ----------

Quote:

Originally Posted by Chris (Post 35543394)

This is all about politicians on both sides of the American system playing power games at the expense of people's livelihoods.[/QUOTE]

ask yourself are they capitalists ????

Or Papa are those one side playing the piper tune like alot our politians pressured by lobbyist with sweatners.

I do wonder whats worse a capailists who pressures for self interests or a politian corrupt to be accepting favors for to vote for there masters sleezy ways.

Taf 02-03-2013 15:53

Re: US budget cuts come into effect.
 
The bankers won't like this.... the U.S.A. paying off some of their huge debts and therefore paying the banks less interest.

Damien 02-03-2013 16:21

Re: US budget cuts come into effect.
 
Clinton once took it to the brink and a shutdown. Obama needs to assert some control.

papa smurf 02-03-2013 16:48

Re: US budget cuts come into effect.
 
Quote:

Originally Posted by Damien (Post 35543417)
Clinton once took it to the brink and a shutdown. Obama needs to assert some control.

he's not in control other peoples greed and self interest is :(

Hugh 02-03-2013 21:42

Re: US budget cuts come into effect.
 
Quote:

Originally Posted by Damien (Post 35543417)
Clinton once took it to the brink and a shutdown. Obama needs to assert some control.

He can't over-ride previously agreed legislation.

Arthurgray50@blu 02-03-2013 22:23

Re: US budget cuts come into effect.
 
From what l read, its similar to what David Cameron and the horrible Tories are doing to the UK.

Cameron wont give high taxes to the rich, similar to the USA, this is why Obama is annoyed as the country will be hit by severe cutbacks - does that ring a bell.

Hugh 02-03-2013 22:28

Re: US budget cuts come into effect.
 
Again, in English, please?

mertle 02-03-2013 22:31

Re: US budget cuts come into effect.
 
Quote:

Originally Posted by Hugh (Post 35543535)
He can't over-ride previously agreed legislation.

sadly nope but hope those who refusing close loopholes are named and shamed better investigated.

There seems alot dodgy going on with this repuplican move.

Quote:

"It's happening because Republicans in Congress chose this outcome over closing a single, wasteful tax loophole that helps reduce the deficit. Only last week they decided that protecting special interest tax breaks for the well-off and well-connected is more important than protecting our military and middle-class families from these cuts," Obama said.
http://www.guardian.co.uk/world/2013...quester-crisis

According obama this will destroy 750,000 jobs all because these idiots.

Quote:

"The pain will be real. Many middle-class families will have their lives disrupted in a significant way," Obama said in his weekly address. He added that up to 750,000 jobs could be lost and half a percentage point knocked off America's economic growth this year. "This will cause a ripple effect across the economy. Businesses will suffer because customers will have less money to spend ... These cuts are not smart. They will hurt our economy and cost us jobs," he said.
If the people got any sence they should demand removal many senators. Demonstrations and if Obama got sence he will call investigation. Any those who got tax havens resignation or jailed.

Its quite simply wrecking ball for the economy this ripple I am sure will be felt here.

Madness pure evil madness.

nomadking 02-03-2013 22:45

Re: US budget cuts come into effect.
 
Tax rises had already been previously agreed, spending hadn't. This aspect seems to have been 'censored' from 'The Guardian' article.
Quote:

At the end of 2012 Congress and the White House struck a dramatic deal to avoid what was dubbed the "fiscal cliff", that included expiring tax breaks and the sequester.


Republicans agreed to Mr Obama's demand to raise taxes for the rich and Congress postponed the deadline for the budget cuts until 1 March.

TheDaddy 02-03-2013 23:17

Re: US budget cuts come into effect.
 
Quote:

Originally Posted by Hugh (Post 35543547)
Again, in English, please?

The Tories Are horrible, hor-ri-ble

That better Hugh, I'm always happy to help out.

mertle 02-03-2013 23:32

Re: US budget cuts come into effect.
 
Watching video shows this big issue about lobbying time to make radical changes for governments ban lobbying.

The no doubt this our problem in UK and USA.

http://documentary.net/park-avenue-m...merican-dream/

Its eye opener to how top echelon bought governments to make themselves very rich.

Hugh 02-03-2013 23:44

Re: US budget cuts come into effect.
 
Quote:

Originally Posted by TheDaddy (Post 35543563)
The Tories Are horrible, hor-ri-ble

That better Hugh, I'm always happy to help out.

Thank you - much appreciated. ;)

papa smurf 02-03-2013 23:46

Re: US budget cuts come into effect.
 
i blame thatcher ;)

Hugh 03-03-2013 10:57

Re: US budget cuts come into effect.
 
I blame Pitt the Younger.

mertle 03-03-2013 13:01

Re: US budget cuts come into effect.
 
Has anybody watched that vid yet so many parralels to what going on in this country. With how they turned everybody to fight each other. Divide and conguer make sure turning middle classes to luck down than up. While there wealth to rest gap has tripled wow.:(

Hugh aparantly in USA it turned from 1950's. I think here after the removal the war rashions. Capitalist started to work on the erosion things which prevent them getting super rich.

There goal Ayn Rand they just picked atlas shrugged turned into crusade. Want ideolgy no government no rules:shocked:. They just bunch of very rich fruitcakes. Paying corrupt politisians to follow there evil mantra.

Apparantly in america these influential power greedy live all in one appartment block. :shocked: Costs around 20-40 million each apartment.

Hugh 03-03-2013 17:21

Re: US budget cuts come into effect.
 
Your last statement is probably not based in fact.....


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