About Me 0094: Making Money Quickly

“Tea Partiers and small-government conservatives expect to see major legislative action right away next year,” Matt Kibbe, president of FreedomWorks, said in an email. “Make no mistake, the new Congressional Freshman Class was elected to control and reduce the size and scope of government.”

The coming vote on the debt limit promises to be even more contentious. The federal government will run out of money early next year unless more borrowing is authorized, and even the most extreme budget slashing proposals out there will still means deficits for at least the medium term. A failure to pass the bill could spark a financial crisis, shut down the government, and turn big business against the GOP, making it a must-pass measure. But it’s also a bill that’s easy to demagogue, as the many Republicans who attacked incumbent Democrats for their votes on increasing the debt limit on the campaign trail discovered this year. The Republican caucus voted unanimously against the last increase in the debt ceiling, and a number have already signaled they won’t authorize another once they’re in the majority. After two years of heated rhetoric on the issue, Boehner is already warning conservatives to cool it.

“This is going to be probably the first really big adult moment for the new Republican majority,” Boehner told The New Yorker in a recent interview. “You can underline ‘adult.’ And for people who’ve never been in politics it’s going to be one of those growing moments. It’s going to be difficult, I’m certainly well aware of that. But we’ll have to find a way to help educate members and help people understand the serious problem that would exist if we didn’t do it.”

Kibbe said the House in January has to prove immediately that it is serious about spending—for example, by joining Sarah Palin in embracing Rep. Paul Ryan’s (R-WI) Social Security- and Medicare-slashing budget plan—if it wants to keep the Tea Party’s support through the vote.

“The majority party has some responsibilities, and I think they should have to confront the unreality of what they have committed themselves to,” said Rep. Barney Frank of the debt-limit fight.

House Minority Leader John Boehner of Ohio atttends a news conference on Capitol Hill in Washington on Dec. 2, 2010. (Photo: Harry Hamburg / AP Photo)

“If nothing is done on the part of the newly elected members of Congress and the first major vote is raising the debt limit, that would be unacceptable,” he told The Daily Beast. “If conservatives make any kind of concessions, there will have to be proof by legislation passed that this situation is not going to happen again. A budget would have to be drafted that is substantially smaller than previous years.”

There's only one way to have Andy Pettitte tip his hat to the crowd before he retires...and that is with a World Series Championship.

Al Bello/Getty Images

The Yankees have been doing a lot of waiting this offseason. They waited for Cliff Lee to choose his team. They waited for Derek Jeter to accept their offer. Then they stayed put a while too long and lost out on Zach Greinke. Now they await a decision from Andy Pettitte as to whether or not he will pitch in 2011.

The Yankees starting rotation for 2011 may be in shambles if Pettitte chooses not to return. A few days ago, Brian Cashman said that he would not pressure Pettitte into making a decision quickly. Now there are reports surfacing that Mariano Rivera may be making a phone call to his long-time teammate to see if he can return to the mound in 2011.

Cashman is optimistic about 2011 when he spoke, saying that he will bring back a 95-win team next year. Andy Pettitte definitely has to be in the equation for the Yankees to win 95 games next year.

He excelled this year, but got hurt in the second half of the season. He was not as dominant, but he continued to show some consistency as a dominant veteran of the mound.

The main factor surrounding the decision as to whether he will return will be money. Pettitte has expressed his desire to spend more time with his family in Texas, but the Yankees need him.

In the past, the Yankees have been known to disrespect some of its aging stars by not offering so much money on the table. It happened to Bernie Williams and Joe Torre later on wrote about his unhappiness afterwards in The Yankee Years.

Andy Pettitte has been a fan favorite for a long time in the Bronx, and seeing him leave due to financial unhappiness seems like the wrong way to end his story. The Yankees should reach into their pockets and put the right amount of money on the table, because the only perfect ending to Andy Pettitte's story is one more World Series Championship. With Pettitte on the team, the ending seems possible.

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Thursday, December 23, 2010

Making Money Quickly

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