Hypocrisy in Congress is outrageous, infuriating

Trying to get a straight answer out of Republicans and Democrats is impossible these days.

By Jim Cramer Dec 12, 2012 10:09AM

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CorbisThe lack of sincerity in Washington, D.C., was palpable Tuesday. Over and over, I could not get a single elected official I spoke with, neither Republican nor Democrat, to give me even one idea for cutting spending right now. Not one.

 

I made tons of suggestions that could be implemented Wednesday.

 

Why do we have huge military bases in Japan and Europe? These are just leftovers from another era. There are whole defense projects that not even the Defense Department wants.

 

How about farm subsidies? Ethanol subsidies? Nope.

 

How about Medicare negotiating with drug companies? Nope. I heard from one poll that the drug companies might move elsewhere. Where? We are the only country that lets them gouge us. I heard that the drug companies wouldn't feel compelled to spend money to develop new drugs. I wanted to scream: Did you ever hear about patent cliffs?

 

Outrageous.

 

The Republicans were absolutely no better than the Democrats. In fact, they were worse. When I stipulated that I am not interested in talking about raising revenues because they say over and over that the issue is spending, they still talked about raising revenues. When I insisted that they talk about what they say they insisted on talking about, they wouldn't. They simply wouldn't.

 

I could never get away with that level of hypocrisy.

 

Ever.

 

Infuriating.

I came away thinking that there is nothing the Republicans won't do to be sure that the 2% don't pay more, including throw people out of work and make everyone else pay, which is what's going to happen if they don't compromise.

 

And the president? He has no serious plan to cut spending either -- but at least he is willing to give something that helps balance the budget (read on TheStreet).

 

I am going to repeat this so it is really clear: NO Republican offered me anything to cut spending in the near-term. Not one.

 

If you are serious about spending cuts, you have to be able to offer one.

 

My conclusion: Republicans aren't any more serious than Democrats are, but at least the Democrats are asking someone to help solve the deficit, the cohort that got the big break on taxes when things weren't so hot.

 

Cramer's face

 

 

Jim Cramer is a co-founder of TheStreet and contributes daily market commentary to the financial news network's sites. Follow his trades for Action Alerts PLUS, which Cramer co-manages as a charitable trust.

 

 

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109Comments
Dec 12, 2012 11:36AM
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We need to fire the whole lot of them and put ordinary citizens in congress and the senate that actually want to make this a better country, and not cowtow to special interest groups and that jackass Norquist, who should be in jail for coersion.
Dec 12, 2012 10:44AM
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yeah......sounds like politics as usual......  full of BS, with no substance nor ideas
Dec 12, 2012 11:39AM
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Such unproductive drivel from such a partisan hack.  However, without realizing it, Cramer has probably stumbled upon the inevitable solution - across the board cuts.  Instead of nit-picking and arguing about what spending is wasteful and what's not, which department or agency is necessary and which aren't, it would be easier, more practical and more politically expedient to just institute cuts across the board.  It shouldn't be that hard to cut the budget of every agency and department by 15% across the board.  Those cuts wouldn't be nearly enough, but it would be a hell of a start.  15% comes out to about $500 billion per year, only half of what we need, but a whole lot more than what's on the table now.
Dec 12, 2012 11:59AM
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"I could never get away with that level of hypocrisy.

 

Ever."


THE most hypocritical statement of the  year from a man who sells his stock picks for $700 a year for a fund that has been in profit 2 or 3 times in the last 11 years !! It claims to be "charitable" trust but you cannot find any record of donations on its SEC filings!

Dec 12, 2012 11:04AM
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Jim:   I am surprised that YU are surprised. This is nothing new.
Dec 12, 2012 12:02PM
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To say that the President is offering something to help balance the budget by raising taxes on the wealthy is only good if the budget doesn't increase when more revenues come in. We did not see the AIG windfall go to payoff any debt. I am getting the opinion that Mr Cramer is getting on the bandwagon to pat the President on the back no matter what he does. Looking for a lunch invitation???? I am all for congratulating progress but getting more income with no budget balancing plan or direction seems silly.
Dec 12, 2012 11:27AM
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YOU MULLETTS JUST KEEP VOTING THE SAME OLE CLOWNS BACK IN, DO YOU IDIOTS KNOW THE DEFINITION OF INSANITY??????
Dec 12, 2012 12:01PM
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Send them all a message - If they are in office - vote them out next election.

Dec 12, 2012 11:09AM
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Then why did you tout how great the liberals were and encourage folks to vote for the same group that were already there? Is this just buyers remorse or you attempting to have a discussion?  Not to rock your boat but i think you fit in very well with the DC mentality.  Moving left and right with the wind all the time having your own personal self interest as your beacon?  Yup you give us a lot of foolish nonsense to mull over.  JMHO.
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Jim may be right about one thing: There's no sincerity in Washington.  But this certainly is not new news, this has been going on for years and years.  I truly believe that our elected officials (including Obama) think that the vast majority of Americans are idiots.  We cannot think for ourselves or conduct daily business without their oversight.  I believe that BOTH parties are equally to blame for our fiscal problems and wonder how they managed to get re-elected. We all bear the blame for that!
Dec 12, 2012 12:02PM
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As for the cliff bullish*t --- I am tired off it - it is just the usual media scaremongering that the world will end if XYZ fails to happen and I (insert columnist/pundit name here) am the man or women to guide you through the morass (for a small fee) ........... I am sure they are working on the next "crisis" to keep us running scared.  My guess is it will be Asia or Latin America as they have not been used for a while !!!


Dec 12, 2012 11:51AM
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The only thing worse than BoBo's stock picks are his political rants.

Dec 12, 2012 12:04PM
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As for me I am going to pull my money out of this market in January and start investing locally - I have a few like minded friends and we will start our own local funds to invest in and create  small local business ....enough with these thieving wall street scumbags !
Dec 12, 2012 12:09PM
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Bargaining and Compromise are Now Insanity


Demanding that the U.S. Congress and the Whitehouse continue the decades long corrupt Washington practice of compromising to “get a deal done” by bargaining away our liberties, is the very embodiment of insanity.  This is the regimen that has evolved the federal government into the resource consuming monster we endure today; consuming our lives with each successful fear based appeal to the public to effectively maintain the suicidal status quo.


The fiscal cliff is the latest from the Washington panic circus and a complicit press.  An economic model dependent on federal spending (taxing and printing money) is institutionally corrupt and weak.  Each of us is responsible for our own lives.  The answers will come from WE THE PEOPLE within the context of our local communities.  Who better knows what is needed and where?


Let us not humor these hooligans any further.  If you want to make a lasting positive difference, get your congressional delegation to reduce taxes and cut federal spending even more.  Demand they no longer vote for any increases in the debt limit.  This will automatically force the President into responsible allocation of EXISTING revenues.

Dec 12, 2012 1:20PM
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Jim, your thinly disguisded liberal tendencies are showing. Why don't you just come out of the closet and fully support our "Dear Leader" in bringing this country to its fiscal knees.

Obama started this thing with a very hardball position. Do you really expect congressional Republicans to give in to his demands early in the process? If they did, no spending cuts at all would happen.

You know better!

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Jim says-Republicans bad, President good.
Dec 12, 2012 11:49AM
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 Where  in the world did reality go?   We now have a Nanny Market bought and controlled by a Nanny State.  Everyone is sitting around the tree waiting for Santa to bring more liquid to this already non market market.  The state funneling your money through big banks to hold up share price.  Don't fool yourself they are and always will be beholdin to their parent company the Fed.   The advice to protect the wealth class through this transition to world Corporatism seems firmly in place.  The end game will be what now?  This market is bought and paid for and now controlled by world Corporatism.  When, and I predict that is a given, decide to bring this market to near zero we will all face the same fate.  The US guberment is now the big dog in this market and I am frightened of having anybody having this much power over my lifelong investments.  Share price is no longer a result of a forward earnings curve. The transition of a new world currency is also a given and what "value" can you and I expect from this "fools" market. Way too much risk for me at my age. How in the world did we get here? You all must be keenly aware of the article just recently about moving forward to absorb the EU and its economy into ours. Did we hear one voice of skepticism?  I believe the best we did as Americans was take care of ours and set an example for fairness for the entire world.  To now in our weakened state attempt to "incorporate" the entire world is a big chunk of maybes. This "cliff" nonsense is just a precursor to a much larger question that we see not being asked. We as citizens have not been asked or informed of what our representation is actually up to on our behalf.  This activity behind the scenes is a secret and for a good reason.  Collapsing the world economy and financial system is paramount to finally gaining complete control and finalizing world Corporatism.  How much you and I will lose to to enable this should be the question we all need to ask.  And you can bet a ton we will only get the answer after we have lost our ability to question or influence their final action.  JMHO
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If you tax the rich as the President wants, you pay the Annual Debt for 8 days out of the year.  That is 2.19% of the Annual Debt we are in. 

Where will we cut the other 98% to balance the budget?   Take it out of Jim's "Charitable Trust"?   No way.  Take it from Buffet? No way.  Take it eventually from the Middle Class.   Hey now Mr. President there is an idea.   That way you won't have to cut any spending and get all the taxes you want.   You can now have your cake and eat it too!!!

This President is the lamest person we have ever had as President.  Sans Jimmy Carter.

Dec 12, 2012 11:51AM
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Anyone who listens to Cramer has to be a moron. Jim is all one sided and really doesn't know much about anything. He fits in real good at NBC where the real world doesn't  exist.
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