Comments on: Rick Santorum, Front-runner, Romney’s Seamus Problem, Kid Gloves, U.S. Budget as Family Budget (The PM Note) http://abcnews.go.com/blogs/politics/2012/02/rick-santorum-front-runner-romneys-seamus-problem-kid-gloves-u-s-budget-as-family-budget-the-pm-note/ The latest Politics news and blog posts from ABC News contributors and bloggers including Jake Tapper, George Stephanopoulos and more. Mon, 20 May 2013 22:31:02 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Massive http://abcnews.go.com/blogs/politics/2012/02/rick-santorum-front-runner-romneys-seamus-problem-kid-gloves-u-s-budget-as-family-budget-the-pm-note/#comment-24637591 Massive Sun, 06 May 2012 22:44:14 +0000 http://abcnews.go.com/blogs/politics/?p=440592#comment-24637591 Smithwick Auto auto givaway begins; biggest sale tops $200,000.Some of the most rare state license plates sold in lots for five figures. A set of classic Pennsylvania plates sold for $26,000, while Wisconsin plates fetched $29,900. Smithwick Auto auto givaway begins; biggest sale tops $200,000.Some of the most rare state license plates sold in lots for five figures. A set of classic Pennsylvania plates sold for $26,000, while Wisconsin plates fetched $29,900.

]]> By: Anatole Pushkin http://abcnews.go.com/blogs/politics/2012/02/rick-santorum-front-runner-romneys-seamus-problem-kid-gloves-u-s-budget-as-family-budget-the-pm-note/#comment-17953022 Anatole Pushkin Sat, 18 Feb 2012 16:59:55 +0000 http://abcnews.go.com/blogs/politics/?p=440592#comment-17953022 Problems of Romney: 1. He looks like a mannequin (read fake) 2. Everybody is a muckrucker (ever is tired of him for that) 3 He is multibillionaire who squanders his millions on negative ads while the rest of the nation suffers from recession 4 He is a Mormon and to have chosen to be one is already a problem Problems of Romney:
1. He looks like a mannequin (read fake)
2. Everybody is a muckrucker (ever is tired of him for that)
3 He is multibillionaire who squanders his millions on negative ads
while the rest of the nation suffers from recession
4 He is a Mormon and to have chosen to be one is already a problem

]]> By: excfo http://abcnews.go.com/blogs/politics/2012/02/rick-santorum-front-runner-romneys-seamus-problem-kid-gloves-u-s-budget-as-family-budget-the-pm-note/#comment-17618222 excfo Tue, 14 Feb 2012 06:40:47 +0000 http://abcnews.go.com/blogs/politics/?p=440592#comment-17618222 I am an ex chief financial officer with 25 years experience as a CFO and over 50 years of financial experience. It is foolish for anyone to try and compare the budget of the United States to a family budget. Families, for the most part don't operate under a system where liabilities incurred by a predecessor administration have to be paid by the current administration by the Treasury Department of the country, and part of the job of the Treasury is to make sure that the US does not default on legitimate, contractual obligations, irrespective of who or which party originally incurred the obligations. Families, for the most part, operate on cash basis accounting. Virtually all businesses and government organizations, Municipal, county, state, federal operate on a mix of the two. President Obama's situation is not unlike a guy who has just gotten divorced and then finds out his wife ran up thousands of dollars in credit card debt on cards in his name, while they were married. To protect his FICO score, he has to pay off the debts at Saks, Niemans, and Nordstroms. Frankly, Tapper asked a dumb question, and Carney gave about as intelligent an answer as is possible. The US budget issues are incredibly complex, and I've learned in 50 years of industrial finance experience that there are no simple answers to complex questions. BTW, that was one of "W's" major problems; he wanted everything boiled down to a couple of pages. He didn't like in-depth analysis. I am an ex chief financial officer with 25 years experience as a CFO and over 50 years of financial experience. It is foolish for anyone to try and compare the budget of the United States to a family budget. Families, for the most part don’t operate under a system where liabilities incurred by a predecessor administration have to be paid by the current administration by the Treasury Department of the country, and part of the job of the Treasury is to make sure that the US does not default on legitimate, contractual obligations, irrespective of who or which party originally incurred the obligations. Families, for the most part, operate on cash basis accounting. Virtually all businesses and government organizations, Municipal, county, state, federal operate on a mix of the two. President Obama’s situation is not unlike a guy who has just gotten divorced and then finds out his wife ran up thousands of dollars in credit card debt on cards in his name, while they were married. To protect his FICO score, he has to pay off the debts at Saks, Niemans, and Nordstroms.

Frankly, Tapper asked a dumb question, and Carney gave about as intelligent an answer as is possible. The US budget issues are incredibly complex, and I’ve learned in 50 years of industrial finance experience that there are no simple answers to complex questions. BTW, that was one of “W’s” major problems; he wanted everything boiled down to a couple of pages. He didn’t like in-depth analysis.

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