You can't use tact with a Congressman

The only true wisdom is in knowing you know nothing.

Socrates

For those who missed what the recent Washington controversy was about, here’s the short version with captions.  Havoc on the Hill. 

New Congressman always spends the first week wondering how he got there and the rest of the time wondering how the other members got there

What? I didn’t say clown.

So much for a routine, administrative action by Congress.  What wasn’t mentioned is that the ‘savings’ really mean that the US government will only get a $7 Trillion increase instead of a $10 Trillion dollar increase in spending. 

• Adds at least $7 trillion to our debt over the next 10 years. The deal purports to "cut" $2.1 trillion, but the "cut" is from a baseline that adds $10 trillion to the debt. This deal, even if all targets are met and the Super Committee wields its mandate - results in a BEST case scenario of still adding more than $7 trillion more in debt over the next 10 years. That is sickening.
• Never, ever balances.
• The Super Committee's mandate is to add $7 trillion in new debt. Let's be clear: $2.1 trillion in reductions off a nearly $10 trillion,10-year debt is still more than $7 trillion in debt. The Super Committee limits the constitutional check of the filibuster by expediting passage of bills with a simple majority. The Super Committee is not precluded from any issue, therefore the filibuster could be rendered most. In addition, the plan harms the possible passage of a Balanced Budget Amendment. Since the goal is never to balance, having the BBA as a "trigger" ensures that the committee will simply report its $1.2 trillion deficit reduction plan and never move to a BBA vote.
• It cuts too slowly. Even if you believe cutting $2.1 trillion out of $10 trillion is a good compromise, surely we can start cutting quickly, say $200 billion-$300 billion per year, right? Wrong. This plan so badly backloads the alleged savings that the cuts are simply meaningless. Why do we believe that the goal of $2.5 trillion over 10 years (that's an average of $250 billion per year) will EVER be met if the first two years cuts are $20 billion and $50 billion. There is simply no path in this bill even to the meager savings they are alleging will take place.

http://paul.senate.gov/?p=press_release&id=280

You can't use tact with a Congressman! A Congressman is a hog! You must take a stick and hit him on the snout!

Henry Brooks Adams

Based on the following chart from Zero Hedge, Maybe it is time to buy gold?  How many in Congress own gold right now, I wonder?

http://www.zerohedge.com/