Grover Norquist blames economic crisis on the 2006 mid term election results
By John Amato Monday Dec 01, 2008 12:01pmGuys like Grover Norquist are one of the reason America faces financial ruin. His insane positions on tax cuts and how government should function have resulted in what we have today. He once said:
My goal is to cut government in half in twenty-five years," he says, "to get it down to the size where we can drown it in the bathtub."
He almost succeeded in drowning U.S. citizens instead. Anyway, the Saturday Stock Shows were all freaking out since Obama won the election and their free market, deregulation style has been a disaster, but that won't stop them from crying about how much money the "rich" people are paying in taxes. The guys at Forbes and Cavuto were just screaming "tax cuts" throughout.
While debating David Sirota last week on CNBC, Grover actually said this:
The economy is in the present state because when the Democrats took the House and Senate in 2006, you knew those tax increases were going to come in 2010, the stock market began to collapse as soon as you recognized those old tax rates were coming back.
Why are these people still on our TV? They lie, lie, and lie.,...
Notice how Norquist - with a straight face - actually claims that the current economic crisis is due to Democrats taking control of Congress in 2006.
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Ooh yeah, they haven't managed to fix in a year and a half, what's been undone the past seven and a half, with repugs obstructing them along the way.
Yet Merciful Deity the day that Grover Norquist is found drowned in a bathtub.
so will I.
His partnership with Abramoff in ventures to bilk tribal interests, spread gambling addiction, and launder funds makes "follow the money" Iranscam operations seem penny ante. Wonder if W will pardon Grover in advance, too, among his list of thousands.
Grover at least is honest, a la Mein Kampf, in his end goals about shrinking government. The rest of the GOP believes only in cutting taxes. Rather than "starve the beast," they allowed the debt machine to grow it to record size. The kicker is that the Federal government cut only useful programs and hamstrung or radicalize essential agencies.
He is one of the main architects of the impending economic depression the world is facing. Never forget his famous line, "My goal is to cut government in half in twenty-five years, to get it down to the size where we can drown it in the bathtub."
Looks like he's gonna get his wish.
A disgusting over-nourished, lying, fake superior, Republican fuck up, partly responsible for this quicksand of shit were all drowning in.
Anyone who listens and believes one word from this fat, nasty, remorseless loser deserves whatever happens to them.
Norquist is just like Rush Limbaugh, who calls the recession Obama's recession. I tried to figure out why, but I couldn't read too much of it without the stupid hurting my brain.
Just say anything you like loud enough and often enough and it becomes the truth. Jackasses.
who ought to be shot with shit.
Will bring a whole new meaning to puck shooting.
….and explain to me what the hell fear of US tax increases has to do with the world’s economic crisis? No one is fooled by this nonsense. With Grover and his ilk it’s all about me, me, me.
When the Swiss, Chinese, Icelandiers and Burkina Fasoians saw that the tax increases were going to be expired early that plainly signaled the need for increases in oil prices and poorly thought-out loan packages.
Sheesh, I can't believe I had to explain that...
I often recall the "drown it in a bathtub" line but it usually only pops into my head when idiots like these appear and open their mouths.
Were it applied properly, say, on pathetic, grasping and ultimately FAILED talking heads like these I bet it WOULD do some good.
It's Clinton's fault! (Bill, that is)
The stock market is a bunch of investors, some very sophisticated, some not, who are in search of a place to park their cash.
It has a tangental relationship to the real economy.
Here is my previous post.
There are between $15 and $40 Trillion in Credit Default Swaps on the books of the world's banks that may come into play.
If they called it 'insurance', it would be regulated. It is not regulated, so instead it is nothing more or less than a super high roller numbers racket.
On a vast scale. It is gambling and the banks are the bookies but they don't have the money to pay up.
Mortgages, Corporate bonds, will this or that stock go up or down, you name it. If it involves substantial money, there are CDS attached. Because it is unregulated and one does not need to even own the underlying security, the amount of CDS are sometimes FIFTY times the amount of the named security.
Every mortgage default, every bankruptcy, every bond default can bring action in the CDS market. Sometimes at fifty to one.
Right now the banks are hoarding cash because they may owe every cent they have. Or more, in which case they are insolvent.
That is why the credit markets are still frozen.
Without the credit markets we spin into a depression.
The banks should be allowed to go bankrupt. The CDS for those who do not own the underlying security might be paid at pennies on the dollar, or nothing.
Instead the central banks are pumping (printing) money into the banks. We are the leader in this by far.
We are not attaching strings to this money, it is akin to free money.
If we pump enough money in to cover all of the potential losses, up to maybe $40 Trillion, we will have wrecked the dollar and hyperinflation will ensue.
Thus far we are at $8.5 Trillion.
Somewhere between zero and $40 Trillion lies a bizarre world of stagnation and hyper inflation.
That is where we are now. Over our heads and sinking.
For most of the twentieth century, Credit Default Swaps would have been illegal.
There was a good reason for this. It is gambling, pure and simple. Unregulated gambling is not a healthy business.
It has gotten to the point where the entire world's economic well being is in jeopardy.
Wherein lies the morality of paying these gambler's debts. I don't see it.
i'd like to c&p it, if i might?
or rather (heh) this is due notice that I've absconded with it.
i'm a scholar, so i give due credit, too.
very clear...nice job! really...
And in turn, if instead of paying these gambler's debts, what if we tried this:
Take the $700,000,000,000.00 we're handing to the banks and instead give it directly back to the American public (approx. population 305,709,000 - every man woman and child) that would be about $2,290.00 per person... which would make for a pretty decent financial stimulus. A family of four would get $9,160.00 to put toward their home, car, business, debts or savings.
I'm not a financial expert but that sounds a lot smarter than giving it to banks who are just hoarding it to improve their solvency. Too bad that option was never considered by our elected reps. "Of the people, by the people and for the Fortune 500."
as I seem to recall he was somehow mixed up with Jack Abramoff in taking illicit money (otherwise knonw as payoffs)from some groups that wanted political favors.
Don't know what Grover's job is now, but I can't see any reason whatsoever for these media jerks to have him on - as he's
ALWAYS been wrong on every issue I've ever heard him speak to. We don't need fools rectiing wrongheaded economic policies - we need people who have ideas and plans for pulling our country/world out of this friggin' mess.
Repugs always say they want small government,then when they get power it grows and grows and grows.Then the deficit gets out of control.Bush is one of the biggest spenders off all time.
I think Grover from Sesame Street has more economic credibility.
I realize it's not a nice thing to ask a woman to do, but if Grover would finally get a girlfriend, maybe he'd have less time to be stupid.
If Grover was in prison where he belongs, he could BE the girlfriend.
There's nothing a conservative can say that it's too absurd for TV. I mean Steve Forbes is still treated as a respectable commentator by major news shows, for chrissakes, instead of the nutty loon that he really is.
This guy is a tool. He's a dillwad and asswipe. First, I just don't see how the elections in 2006 affected the stock market negatively for the reason Norquist states.....that everyone knew that Bush's tax cuts would end in 2010....heck, that's 4 years after the elections.
Second, the way I understand it, Obama's plan is to go back to the Clinton tax rates for those making over $250,000. That means paying a tax rate of 39% rather than 36%. And, note, this tax rate is only for the amount over $250,000, the way I understand it. Further, seems to me that the economy during the Clinton years wasn't so bad.
In the late Clinton years, I worked in Europe and had very, very nice perks. I was in the upper tax bracket, but you know, I could care less if I were paying 36% or 39%.
These selfish pigs like Norquist get so upset over paying just a little bit more in taxes....it's disgusting. For jerks like Norquist, it IS about "me, me, me."
He can just go screw himself.
Who can blame Grover Norquist on?
You're right, Grov, the 2006 election was a massive conspiracy to tank the stock market EIGHTEEN MONTHS LATER, which is why all we can afford for christmas is clothes made out of our own pet's fur this year.
... never wanted to learn that we can only chose two:
a) reduce taxes
b) fight a war
c) fight a recession
But now that he and his buddies drowned the government, he is trying to blame the murder on the rest of us.
F*CK YOU.
And what kind of name is Grower anyways? Seems that all conservatives have daddy issues, and we are left around to deal with the consequences.... ugh.
Those who think like Norquist are nothing more than traitors to this country, and should be jailed for the remainder of their worthless lives.
The issues that led to our economic stressors are so complex, even the most gifted economists need hours to explain them, and then, the common man still can't get his brain around the issue sufficiently to have a firm enough grasp to apply them in meaningful ways to their own existences.
The powers that be are relying on the complexities of these issues, and the lazyness of the American populace ... they are counting on it. The issues then lend themselves to your average "Joe Sixpack" tolerating the corporate welfare state continuation and the transference of huge quantities of YOUR MONEY into THEIR bank accounts, which most likely will be off shore accounts or untouchable in other ways to the US Government.
No regulation, no oversight, NO HOPE for the average American. See how well it works and will continue to work for them. And they will continue to whine from every corner of the country about how it is the liberal congress's fault and liberal ideas are ultimately to blame for all of it. Akin to blamining the helpless, the blameless, and the innocent victims ... and GETTING AWAY WITH IT, because we refuse to take meaningful action to make it STOP! We're too busy watching NASCAR, and other mindless crap to get out our pitchforks and take to the streets which is what it is going to take to solve the problem. Politicians after all, have been bought and paid for by corporate America, so they all are so corrupt they might as well move in with Norquist in one big compound. THEY ARE ALL CORRUPT!
Taking taxpayer bailout and spending it on purchasing construction companies for the upcoming "infastructure" money
MADRID, Spain — Debt-laden Spanish construction company Sacyr Vallehermoso said Monday it has agreed to sell its highway-operating unit, Itinere, to a Citigroup Inc. fund in a deal valued at nearly euro7.9 billion ($10 billion).
The sale involves euro2.87 billion in cash and euro5 billion in assumed debt, the company said.
How about "was successful," at least in New Orleans.
When the big, bad government is shrunk to where you can drown it in the bathtub, guess what? Your government that's of, by and for the people becomes a government of, by and for the corporations.
I have an uncle who's a truck driver and refuses to pay taxes because he's convinced it's theft. Of course, how would he have roads to drive his truck on if nobody paid taxes?
By the way, Grover, the market crashed because of policy decisions made DURING the Bush administration, not because of some FUTURE decisions that MIGHT be made by Democrats.
Bob Rubin and Larry Summers convinced Bill Clinton (who didn't need much convincing) that rolling back Glass-Steagal, in '91, and gratifying Phil Gramm and his big money buddies was a great idea.
Guess what?
Bill's out there all buddy-buddy with all the really rich fux, up to his ass in george hw bush, and sheik Yurbootie, and the really BEEEG money...
Wonder how THAT happened, to a kid from hope?
"You crackhead."
...watching Sirota spank that moron all over the airwaves.
Norquist is a filthy fleck of festering foreskin flesh.
(Heee! that was fun, too)
something about the subject matter inspires true genius...
My God...can television be anymore lame and pathetic? With each view of these talking idiots, the answer is a resounding YES!
and a forked tongue.
To figure out what's wrong with Washington, This Snake doesn't need a calculator, he needs a mirror.
Grover is just the sort of shyte that will piss on your leg, tell you its raining, then try to sell you an umbrella.
Can I say how much I loathe Grover Norquist? A pudgy spoiled brat who has never worked a day in his life and doesn't want to pay his fair share. His ass should be in prison with Abramoff, by the way. Same goes for Ralph Reed.
The right wing will not be reasoned with. They need to be smashed like roaches.
No one in their right mind would ignore the credit crunch, the mortgage collapse and banking and insurance failures and blame the economy on the fact that Dem's took control. Or would they?
And some people consider this guy and economic guru?
totally you-tubed Norquist. He could have said, "Okay, Grover, so will you state right here and now for posterity, that if the economy improves at all over the next 2 years with a Democratic congress, that that will prove that your theory is total bull?"
One has to wonder if Grover REALLY believes that the election of a Democratic majority in 2006 is responsible for the current crisis, or if he's just being opportunistic?
If Grover REALLY has any "financial acumen", the collapse of the Banking system due to all these failed mortgages is a direct result of the Fed cutting interest rates to the bone after 9/11 to prop up the economy (rather that do any of a million other more responsible ways with far less dangerous consequences).
If Grover is THAT stupid as to actually BELIEVE that an entire economic system would "deliberately" implode upon itself simply out of some perceived "Nervous Nelly" fear of what Democrats "might" do "four years later", he has NO business holding ANY position of consequence.
This is the same moron who said the following in 2004:
"Once the minority of House and Senate are comfortable in their minority status, they will have no problem socializing with the Republicans. Any farmer will tell you that certain animals run around and are unpleasant. But when they've been "fixed" then they are happy and sedate. They are contented and cheerful."
How's it feel now Grover, you despicable bastard? Voice gone up a few octaves lately? Well good---enjoy your contentment and cheerfulness since reality seems to have "fixed" you and your fascist party.
Take anything this irrelevant and arrogant POS says with a grain of salt. Or better yet, ignore him completely.
In 2005, U.S. interest payments on foreign debt topped the $100 billion mark for the first time – coming in at $114 billion dollars. That breaks down to $310 million per day, according to Joseph Quinlan, Bank of America’s chief market strategist. This equates to more than $1 per day for every man, woman, and child in America. Not only is America addicted to foreign oil, America is addicted to foreign capital.
We are only increasing this more now at an exponential rate like we have not seen in our history!
Dangerous though he remains, every time Grover opens his mouth the more irrelevant he becomes.
-AF
Andrew Sullivan Is A Fraud
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