The Denial is not a river in Egypt...

This just in:  The GOP is now openly admitting to holding the Debt Ceiling hostage.

I watched yesterday as they stated that threatening to not raise the debt ceiling was the only "leverage" they had to get the budget concessions they want.  At the same time, they acknowledge that the debt ceiling is otherwise not related to the current budget.

I believe I made this very point over a month ago.

I also said that the "tax break for the rich" portion of the GOP plan was the real issue, not Medicare.  Medicare was just a bit of "misdirection." This has also turned out to be the case.  Medicare, and all entitlements, should be looked at.  But now everyone (but the GOP) is agreeing with me when I say, "Revenue is the issue, not spending."

A quick break for a funny picture...

News Flash:  For months, I have been saying that the Republican Party is intentionally blocking the country's economic progress in order to increase their chances of a victory in 2012.  Yesterday, for the first time, I have heard that same idea suddenly occur to several congressmen and political analysts.

So there you have it.  Here is where you can get tomorrow's news today.

Onward...

Here is a link to comedian Steven Wright's one-liners.

Here are a couple of products I saw advertised on TV within 30 minutes of each other:

WONDERFILE: This is a blanket with pockets in it.  You can unfold it on your desk (covering the entire thing) and see pockets where you can put stuff.  They even show a business man packing up his "blanket" for the night.  I'm wondering why this is better than a briefcase.

PAJAMAJEANS: These are jean-looking pants that are really "comfortable."  They are comfortable because they expand with you.  This will allow you to by a pair of pants at a smaller size and then stretch them over the "real" you.  I would call these SELFESTEEMJEANS.

TOTAL PILLOW: This is a donut shaped pillow that can be twisted into shapes to fit your need.  What caught my attention was the "wait there is more" comment.  By ordering now,you can get a plastic bag filled with a gel.  You can heat this or freeze it and then use it as a compress.  I'm thinking, "How is this different from a bag of water?"  And then they go one to say, you can get two for one if you order now (say quickly ->plus additional shipping and handling.)

Elsewhere...

A study of the 26 states that are the worse off financially have found that for the last decade, they have been spending 2-3 times what they are taking in.  Their debt is made up of 75% pension obligations and 25% bonds.  Last year, unfunded pension obligations rose by 50%.

This has given rise to a new term: State Arbitrage.  As states try to raise revenue, people will simply leave to a neighboring state.  We have seen this in California for years; not so much with people but with companies.   They tax the big employers so they just move elsewhere.  In some cases, they still keep their headquarters here but all of the jobs move to a more friendly place.

On a brighter note: Glenn Beck is gone...

And Bill Clinton likes Michele Bachmann.  This is really pissing off the Republican Party as they know she is not a real candidate.  I really, really want her to be the GOP nominee.  I already have a list of gaffes.  For example, she claims our Founding Fathers fought to eliminate slavery.  When this was pointed out to her as false, she said that Quincy Adams, a small boy at they time, grew up to fight slavery so there...now you shut up.

One last "interesting" picture to get our minds off the economy and politics.

I've noticed a slight drop in readership since school ended.  That's okay.  I will continue to save the world while you are escaping from it.  I'll see you when you get back.

Here is your quote for the day: "Worry is like a rocking chair: it gives you something to do but never gets you anywhere"  Erma Bombeck

Time to get some air.

Up, up and away...

jim