Mitch McConnell: I 'Burst Into Laughter' When Geithner Outlined Obama's Fiscal Cliff Plan

[Adenoid_Hynkel]

Source: The Huffington Post



Treasury Secretary Timothy Geithner presented President Barack Obama's opening offer on a fiscal cliff deal to Republicans on Thursday, reportedly eliciting laughter from Senate Minority Leader Mitch McConnell (R-Ky.), who found it absurd.

McConnell told the Weekly Standard that he "burst into laughter" as Geithner outlined the plan. The Republican said no offense was meant, and that it was simply a candid reaction to the proposal, which he characterized as one-sided and ridiculous over its calls for large increases in tax revenue, while being light on promises of the large spending cuts or entitlement reforms that many of McConnell's colleagues have demanded.

Here are some of the specifics of the plan, from the Associated Press:

GOP aides say Treasury Secretary Tim Geithner presented an offer calling for $1.6 trillion in new tax revenue over the coming decade, extending the 2 percentage point payroll tax deduction or something comparable to it and $50 billion in stimulus spending on infrastructure projects.

Read more: http://www.huffingtonpost.com/2012/11/30/mitch-mcconnell-fiscal-cliff_n_2218063.html

[craigmatic]

1. he really does look like that turtle.

[mac56]

6. This one too

[xtraxritical]

30. I "burst into laughter" every time I see McConnell's face.

[olegramps]

47. I am glad he amuses you, I want to vomit.

[wordpix]

33. roflmao too funny for midnight

[catchnrelease]

60. He always makes me think of

Beaker. Same nasty temperament.

[mercuryblues]

2. hey McConnell

You are the one that wants the spending cuts, YOU suggest them. And please put them in writing, so you know there is no misunderstanding.

[MrSlayer]

3. Good, laugh it up fucknuts.

Let's just go over the "cliff". I want that anyway. We need a lot more than just raising the top rate. Most of tbe richie rich assholes don't pay that anyway. We need to raise capital gains and install a corporate minimum tax as well. Keep laughing you fucking asshole. You'll be crying soon.

[customerserviceguy]

15. I hope you're right

But I don't see him giving up on this. Why should he? The rich bastards who would hold the economy hostage for their tax cuts can outlast the rest of us, they have plenty.

They pay McConnell to be an asshat, no matter what he has to do for them.

[MrSlayer]

16. What choice does he really have?

It's either take it on the non-existant chin now and get the deal that really isn't that great from our (my) perspective or have it all go up and maybe get a little of what he wants. We really don't have to give them anything after January.

[customerserviceguy]

45. And they don't have to give us anything, either

Rich people have enough to get by while the rest of us buckle under a double dip recession. Blame for what happens in the first six months of 2013 can be assigned later, and history shows that Republicon congresscritters don't seem to take a lot of blame, especially when the Obama voters don't come out.

[John2]

21. I

took a look at that, they can lose the house in 2014. Actually, a lot of Democrats loss, close races in Blue States also. There might not be too many Districts in these Red States but Democrats actually loss in a lot of Blue States also. I think they can regain some of those seats if the White House helped to get out the vote. Those organizations need to keep energized, similar to what the Tea Party did. I think Pelosi can be Speaker of the House in 2014. Not only that, they can't control population growth.

That immigration Bill that the GOP is pushing, calls for making it harder for people of color to enter the United States. That tells me the GOP is now trying to stunt population growth for certain Demographics. They are fighting for their lives and don't want to change their Policies. They are going to remain racists. They are fighting against the clock.

[customerserviceguy]

46. If they didn't lose the House in 2012

with all the Obama voters coming out, what makes you think that 2014 will be any different from 2010? Even after two years of tea party antics, and our President at the top of the ticket, surprisingly few Repukes lost their jobs in the House.

[SemperEadem]

50. gerrymandering was what happened.

yet still, Dems picked up way more than expected in the house. Many of those races where the thugs kept their seats were very, very close.

Last time the mid terms rolled through, a lot of the progressives/liberals didn't vote. They're not making that same mistake twice. The dems haven't all rolled up the tent and gone home from the last election--they're still up and running with 2014 locked in their sites.

[customerserviceguy]

63. And we're stuck with that gerrymandering for the rest of the decade

As for voters coming out in 2014 that didn't come out in 2010, the key is Obama, and he's not going to be on the top of the ticket. I suppose that if he ran with progressive candidates two years from now, instead of having them duck appearances by him, that might help. It all depends on his popularity in eighteen months, if there's a double dip recession, he might be seen to own some of that.

[notadmblnd]

68. many wern't up for re-election in 2012

in 2014 many more will be. I think 2010 was a one time thing. In 2010 many Dems were disappointed with Obama's first two years. Many thought he gave away too much or compromised with the pukes, it resulted in dems staying away from the polls in 2010 and it backfired in my opinion. I feel certain that it won't happen again. I believe if the republicans in congress don't change their ways, that come 2014 Dems will take back the congress.

[customerserviceguy]

69. In the House of Representatives

everybody's up for re-election every two years. Many Rethuglicans elected in 2010 got to keep their seats this time around, and without Barack Obama at the top of a ballot ever again, I fail to see how we unseat them.

Besides, who have we got in the wings for 2016? Hillary?

[grantcart]

26. Sorry but you don't realize what is about to happen. The stock markets are going to wipe out

about 20% of their value. Frankly the rich can moderate their tax percentage by shifting to bonds and investments, see Mitt Romney's tax rate as an example.

By January 5th the Republicans will be on their knees.

[sendero]

41. The stock market....

.. is just a manufactured bubble anyway. If the fiscal cliff crap doesn't tank it, some manufactured event will.

The best way to stop worrying about the stock market is to get out of it, before TPTB decide it's time to tank it again and take off with your money like they have done several times already.

[grantcart]

64. Statistically that is not the case. Over long periods of time the stock market has consistently

returned 7-8% return, although it has been much higher under Democrats than Republicans over the last 40 years.

The markets are going to punish the Republicans and punish them thoroughly between now and January 5th.


Virtually everyone knows this which makes the Republicans latest move among the stupidest ever.


The President now can just wait on the sidelines and let the markets do his work for him.


Which is exactly what he has just signalled he is going to do.

[sendero]

65. Keep drinking the cool aid..

... that is a bogus statistic on its face.

Folks can do whatever with their money but when they gamble and lose, and "investing" in the stock market is simply gambling at this point, I don't want to hear them cry when they lose.

[grantcart]

67. lol yeah why let facts color an opinion.

I will drink facts and leave kool aid to you.


The facts, well established are that over LONG periods, the stock market index funds have had a rather stable performance. The problem of course is maintaining a long term approach. If you enter at the high part of the market and have to sell at the low part of the cycle then you will not gain. It does require a certain risk tolerance. Since President Obama has become President key indexes have doubled in value.

http://kuznets.fas.harvard.edu/~campbell/papers/stockrisk.pdf

Evidence of this sort is found in Jeremy Siegel’s well-known book Stocks for the Long
Run (2nd ed., McGraw-Hill, 1998). Using historical US data from a period of almost 200
years (1802-1997), Siegel compares the range of variation of real returns on stocks, longterm
bonds, and Treasury bills. In their best single year, stocks delivered a real return of
67%, while in their worst single year they returned –39% for a range of 106%
(67%+39%). The one-year range for bonds is far smaller at 57%, and the one-year range
for Treasury bills is smaller again at 40%. A similar pattern emerges if one compares
standard deviations of annual real returns as measures of risk. In the 1802-1997 data the
standard deviation of the annual return is 18% for stocks, 9% for bonds, and 6% for bills.
For an investor with a one-year holding period, stocks appear to be considerably riskier
than fixed-income investments.
The picture is very different for long holding periods of a decade or more. The average
annualized real stock return over the best decade between 1802 and 1997 was 17%, while
the average return over the worst decade was –4% for a range of 21%. The decadal
ranges for bonds and bills are 18% and 17%, respectively. Over 20-year periods the
ranges for all three assets are almost identical at 12%, and over 30-year periods the range
is actually smaller for stocks at 8% than it is for bonds and bills at 9%. Standard
deviations of real returns follow the same pattern when measured over long holding
periods; they are roughly equal over 20-year periods, and lower for stocks than for bonds
or bills over 30-year periods. It would appear that stocks are no riskier than bonds and
bills for long-term investors who can hold their positions for at least a decade. Similar
patterns are visible in some international markets, although reliable long-term data are
harder to come by overseas.1

[customerserviceguy]

62. Right now, they're creating sucker rallies

in order to be able to dump their stuff on the unsuspecting.

The fact that corporate America has about two trillion stashed away in overseas banks, etc. means that they're content earning a fraction of a percent in interest, all while trying to make the economy suffer. A month ago, they were doing that for Mitt, now they'll do it to keep their tax breaks.

Rich people know they can outlast poor and middle class people.

[SemperEadem]

49. there aren't enough in numbers of those who pay him

to elect him. He has to be elected by his constituents who live in his state. Most of his paymasters do not live in his state.

this past election made extremely clear that all the money in the world cannot buy one's way into office.

[Kyad06]

51. amen brother

Every time I hear that numbnut pasty faced no lip talk I just want to punch him in the face. He and Cantor both need to be bitch slapped. Neither has ever done any real work or gotten their hands dirty. I've heard rumors that the turtle is in the closet as well.

[Cleita]

4. Will someone please turn him on his back until we can get this done. n/t

[lastlib]

18. and stick him on a fencepost so we can all see how ridiculous he looks.

[csziggy]

44. !

[ewagner]

42. Perfect!

[PoliticAverse]

5. I wonder if he laughed the same when Reid agreed to his filibuster deal. n/t

[hrmjustin]

7. Is it me or when you look at McConnell you get the sense his face is falling off?

[wordpix]

37. it's not just you; he's been putting on that fake face for the 1% for quite awhile now

It's just about to fall off but hopefully he'll be booted out of Congress before it does.

[hrmjustin]

38. I hope he gets his ass handed to him soon.

[BlueToTheBone]

8. I'm sure he planned it and practiced that laugh.

These aren't spontaneous people. They have an agenda and they are shrewd and evil.

[liberal N proud]

9. I lothe that asshole!

[Judi Lynn]

10. Perfect image! Couldn't be better. n/t

[ballaratocker]

11. The laughter is a defense mechanism.

It compensates for his ego that is worried that he and his party might be the one getting pantsed this time.

[customerserviceguy]

12. What's interesting about this

to me is that Geithner still wants that payroll tax holiday that's been undermining support for Social Security for the last two years. I thought both parties were done with that little trick.

[Iggy]

13. Well, Let's Be Honest Here

Geithner's just a wall st. casino front man-- why should anyone take him seriously??

[high density]

14. $1.6 trillion will help mitigate the deficit

Do they care about the deficit or not?

[corneliamcgillicutty]

17. Just an old snapping turtle who

likes to play the shell game.

[blackspade]

19. What a bastard.

An uncouth one at that.
No wonder most folks think Kentucky is full of toothless idiots.

[sheshe2]

20. I propose that everytime they say NO, Obama should just Up the ante...

GOP aides say Treasury Secretary Tim Geithner presented an offer calling for $1.6 trillion in new tax revenue over the coming decade, extending the 2 percentage point payroll tax deduction or something comparable to it and $50 billion in stimulus spending on infrastructure projects.

Okay you don't like this? How about $1.7 trillion in tax revenue and $55 billion in stimulus! We have a Royal flush....you have a loosing hand.

You have been removed from the adults table at dinner...you go get to sit with the children this time.

[wordpix]

36. I say let the repukes go home to explain it to the 98% early since the lame ducks can't fly anyway

[chuckstevens]

22. Ashley Judd

Hey Mitch: I hope you're laughing at Ashley Judd and not taking her seriously either because she's going to kick you ass in the next election. What proud Senate legacy you will leave. NOT!!!!!!!

[xtraxritical]

29. I thought it was mommy, Tammy Judd?

[chuckstevens]

59. I'm pretty sure

I'm pretty sure it's Ashley, the actress in her mid40's, but I could be wrong.

[The Wizard]

23. Methinks

Miss McConnell is whistling past the grave yard. He's a treasonous prick. Give him a blindfold and cigarette.

[L0oniX]

24. Get out of my government you obsolete piece of bat shit!

[ReRe]

25. Mitch McTurtle...

... has a sick sense of humor.

[Phlem]

27. These F*cks care not about the deficit,

but more about taking away from the working poor and moving it up to their purse masters so they can maintain their lifestyles. In a word, disgusting.

They are nothing but harbinger's of misery and pain upon the 98%, and twist themselves into a pretzel to protect the 2%.

Again,

Disgusting.

-p

[Stewland]

28. Could he be any less an Ass

This man just does not get it, what an Ass of epic proportions.

[BlueStreak]

31. Where is McConnell's proposal? Where is Boehner's proposal?

Correct me if I am wrong, but I don't think either one has put any specific offer on the table. Negotiations don't begin until both sides make an offer.

Obama is absolutely right to sit on his very specific budget proposal until the Republicans put something equally specific on the table.

And if this means we let the deadlines pass, have at it.

Don't be surprised if Obama has a good laugh at McConnell's offer, if he should ever make a real one.

[NickP]

32. Already looks like he's had one stroke....

is it so bad to pray for another one to finish the job?

[wordpix]

34. yuk it up McCONman, that cliff is actually the crumbling bridge your car is on when bridge collapses

$50 billion for infrastructure? hahahahahhhheeeeheee, what a laugh as we watch the US fall apart just so your Kochead friends can remain super rich forever

[Rain Mcloud]

35. They have sat on the proposal for over a month

and apparently have not even cracked the binder,instead letting good buddy Geithner read it to the do-nothing,no-nothing,know-nothing Congress like a bed time story.
Really this kind of incompetence and Mal-feasance should be grounds for dismissal,it damn sure would be in the private sector if you or i pulled that crap.

[frylock]

39. this fuckface is shitting his britches..

they have zero bargaining power. none.

[tomm2thumbs]

40. Looking at McConnell makes the average American burst into a case of diarhhea, so guess we're even

* love that turtle pic btw -- sooooooooo hilarious

[Aerows]

43. He's such an ass

I hope the good people of Kentucky vote him out of office some day.

[SemperEadem]

48. go on and laugh...

you're going to be laughing out the other side of your face by the end of this year...

[Kyad06]

52. He and Cantor both need to be bitch slapped

Neither one has ever gotten his hands dirty doing a hard days work. Can't believe blue collar workers from a state like Kentucky keep electing that nancy boy.

[Sekhmets Daughter]

53. Laughing, indeed. Yet another attempt to

humiliate this president. I hope President Obama shoves this and the debt ceiling limits right down his throat.

[murray hill farm]

54. Would that be...

hysterical, panic reaction laughter?

[burnsei sensei]

55. Mr. McConnell, your laughter is an hysterical symptom

of your intense envy of Geithner.
You, nothing more than a racist mouthpiece, are no financier.
Your friend in the House, Paul Ryan, is also no financier.
In fact, I don't know of any Republicans who are professional financiers!
I'm under the impression that these Republican professional dollar-movers like to hide, because they are the architects of unprincipled capitalism, otherwise known as CORRUPTION!
And here is Timothy Geithner, a financier and worker for the public sector.
His very existence, his success, authority and credibility all insult Republican hyper-capitalist aspirations.
Keep laughing McConnell. You'll choke one day.

[pansypoo53219]

56. from the party that never has reduced the debt.

[sevenseas]

57. The turtle looks better than he does-

He looks like his face is made of a giant slice of cheese- you know- when you watch it in the microwave- how it pulsates just before it melts.

[JackHughes]

58. Exercise the "14th Amendment option."

Obama should neutralize irresponsible Republican obstruction and exercise the "14th Amendment option."

The only way to deal with Republicans is with contempt. They've earned it.

[Initech]

61. Just furthers my theory that conservatives have no sense of humor.

[Rosa Luxemburg]

66. where's your plan Mitch?