News Roundup for 11/18/11

"Stop me, before I spend again!"

-Headline of the Day-
"Rep. Paul Ryan Votes Against Balanced Budget Amendment Because It Doesn't Ruin The Constitution Enough."

What America needs is a Balanced Budget Amendment, becuase congress just spends too much money! Of course, another option might be for congress to just stop throwing money down holes like those in Iraq, but where's the fun in that?

No, it's much better to get into congress, pretend you're not in congress, and try to pass a consitutuional amendment to get you to stop spending so goddam much money. "I won't stop spending money!" they say. "So reelect me to congress and I'll make me stop spending so much money! Who do I think I am?"

Yes, it's all very stupid, but that's Washington for you.

Anyway, Rep. Paul Ryan is one of the people who keeps promising to keep people like Rep. Paul Ryan from spending so much money. He's a big fan of a BBA, which made it surprising that he voted against it when it came up for a vote.

"The backstory here is that, just a few months ago, Ryan and his fellow congressional Republicans were pushing a permanent austerity amendment that would effectively lock Tea Party fiscal policy in place permanently. Among other things, amendment would make it functionally impossible to ever raise taxes, while simultaneously requiring the federal government to balance its budget entirely through spending cuts.

"Were Paul Ryan’s fantasy scenario -- a balanced budget achieved entirely through cuts -- to actually play out, it would 'throw about 15 million more people out of work, double the unemployment rate from 9 percent to approximately 18 percent, and cause the economy to shrink by about 17 percent instead of growing by an expected 2 percent.'"

So Paulie voted against the BBA because it didn't suck nearly hard enough.

Now what's to stop Paul Ryan from spending so much money? Not Paul Ryan, that's for sure. (ThinkProgress)


-Newt's biggest advantage-


Click to embiggen

Also his biggest drawback. (McClatchy)


-Bonus HotD-
"Billionaires Use Tax Loophole To Lower Their Tax Rates To 1 Percent."

So the 1% pays a rate of 1%. And pundits wonder why the 99% are pissed off. (ThinkProgress)