What will happen if the debt ceiling isn't raised?

[IGotWorms 4,058]

Bwahahahahahahaahh!!!!!!!!!!!!!!!

 

The Dems had the White House and huge majorities in both houses of Congress and failed to pass a budget for over 2 years.

 

Time to let some adults into the equation.

 

And I'm curious how the top 1% are bleeding the rest of the country dry.

 

You're right Recliner Pilot. I am sure the majority of the American public will see it your way and the Tea Party's way. So by all means, please go ahead and jeopardize the economic health of the country over this. I think it's a brilliant idea that is sure deliver 2012 into Republican hands.

[Recliner Pilot 61]

You're right Recliner Pilot. I am sure the majority of the American public will see it your way and the Tea Party's way. So by all means, please go ahead and jeopardize the economic health of the country over this. I think it's a brilliant idea that is sure deliver 2012 into Republican hands.

 

Yes, I am right according to the majority of the American public who follows this issue closely. 53% say the debt ceiling should not be raised.

 

Link:

 

http://www.npr.org/blogs/itsallpolitics/2011/07/13/137823877/gallup-majority-of-americans-against-raising-debt-ceiling

 

Not sure how getting our fiscal house in order "jeopardizes the economic health of the country". I would argue going along with Obama's only plan that would add $10 Trillion + to the debt over the next 10 years WOULD jeopardize the health of the country.

 

The elections will work themselves out.

 

Still waiting for you to explain to all of us how the 1% are bleeding the rest of the country dry.

[gocolts 300]

Keep pushing it Republicans. I want any independent voter (and I mean truly independent, not Phurfur "independent" :lol) who hasn't already figured it out to realize that the Republican party is unfit to govern. That they would truly drive the car over the cliff if they thought it would hurt Obama. That they are willing to imperil the fragile economy during a time of tepid recovery. That they couldn't give a fock about 99% of Americans as long as the top 1% gets to continue bleeding the rest of this country dry. By all means, push the issue.

WOW.

 

The Democrats do the EXACT same thing. They are the party that wants the USA to lose wars if a Republican is in charge. Remember that.

 

THe GOP is doing what they were elected to do. Don't worry though, I'm sure the GOP will cave to Obama before it is all said and done. And that will be the end. For the GOP and America.

[IGotWorms 4,058]

Not sure how getting our fiscal house in order "jeopardizes the economic health of the country". I would argue going along with Obama's only plan that would add $10 Trillion + to the debt over the next 10 years WOULD jeopardize the health of the country.

 

The Republicans don't want to cut the deficit. Paul Ryan's plan, which pretty much every House Republican eagerly embraced, ADDS TO the deficit over the next 10 years. Now why is it that Republicans want to INCREASE the deficit at the same time that you are telling me Obama has to be stopped or he will drive up the deficit? Answer: because it isn't about the deficit at all. It's about making sure that the top 1% keeps its low tax rate. Let's at least be honest about what we are debating here.

[Recliner Pilot 61]

The Republicans don't want to cut the deficit. Paul Ryan's plan, which pretty much every House Republican eagerly embraced, ADDS TO the deficit over the next 10 years. Now why is it that Republicans want to INCREASE the deficit at the same time that you are telling me Obama has to be stopped or he will drive up the deficit? Answer: because it isn't about the deficit at all. It's about making sure that the top 1% keeps its low tax rate. Let's at least be honest about what we are debating here.

 

Wrong again, Elmer. Ryan's plan would reduce the deficit by $4.4 Trillion. Obama's plan increased the deficit. You really should run along until you have at least ONE fact on your side.

 

 

House GOP Budget chairman Paul Ryan of Wisconsin unveiled a budget today that would reduce the deficit by $4.4 trillion over ten years by repealing the Democrat's health care bill, reforming entitlements like Medicare and Medicaid and making cuts to defense that were endorsed by Defense Secretary Robert Gates. It also imposes hard spending caps on domestic spending.

 

 

http://www.cbsnews.com/8301-503544_162-20050970-503544.html

 

Still waiting for you to explain how the 1% is bleeding the country dry.

[IGotWorms 4,058]

Wrong again, Elmer. Ryan's plan would reduce the deficit by $4.4 Trillion. Obama's plan increased the deficit. You really should run along until you have at least ONE fact on your side.

 

http://www.examiner.com/political-buzz-in-national/cbo-confirms-paul-ryan-s-budget-slashes-medicare-benefits-while-increasing-debt

 

The non-partisan Congressional Budget Office has released a preliminary report on Rep. Paul Ryan's (R-WI) 2012 budget proposal, and the conclusions of the report show why Ryan has not been using the CBO for his numbers. Ryan has claimed that his budget would save $6.2 trillion from the federal deficit over the first 10 years. Many have noted that Ryan does not use the CBO for his projections, but instead gets his projections from some other unknown source. The CBO states that in the first ten years Ryan's budget proposal would actually increase, not decrease, the federal budget deficit. If Congress does nothing the CBO projects that the federal deficit will make up 67% of GDP in 2012. The CBO estimates under Ryan's proposal the federal deficit will make up 70% of GDP in 2012.

 

Apparently Ryan uses fuzzy math. Hard to believe, coming from such an upstanding person like Mr. Ryan.

[Recliner Pilot 61]

http://www.examiner.com/political-buzz-in-national/cbo-confirms-paul-ryan-s-budget-slashes-medicare-benefits-while-increasing-debt

 

 

 

Apparently Ryan uses fuzzy math. Hard to believe, coming from such an upstanding person like Mr. Ryan.

 

Cherry pick much? Why just pick figures for 2012?

 

Also from your link:

 

 

The good news for Ryan is that CBO does project his plan bringing down the deficit over the long term.

[donhaas 18]

 

Ask yourself this....what has Obama done differently than George Bush?

 

Bush - Deficit spending, Obama - Deficit Spending

Bush - Medicare part D (prescription drug), Obama - Obama Care

Bush - 2 Wars with no clear objective, Obama - Continuation of both (which he PROMISED TO END) and started off another 'bombing'.

Bush - Pushed the Fed to inject massive amounts of capital to improve the economy, Obama - Same

Bush - Patriot Act (violation of the 4th Amendment), Obama (who criticized it and promised to end) - Votes to extend it....TWICE.

 

 

Think about it.......there's no difference. You guys that bash Obama didn't bash Bush for the same things. You guys that bashed Bush don't bash Obama, and yet he's Bush II.

 

None of it will change until everyone can realize that and start to support someone who's honest.

 

 

Good posting

 

 

Obama is essentially a Republican president.... liberals hate Obama with a passion.

 

You just have far too many right-wing dumbasses (many right here at this site ) whose whole information source is limited to a series of chain emails and websites that state "Obummer/ONegro/BOsmomma/ON!gger is a socialist Muslim Kenyan homo who hates America" and other regurgitated GOP non-facts .... just massive idiots who sat completely and utterly quiet during Bush's trillion dollar unpaid wars and total kow-towing to Wall Street greed and overall massive spending that put us on the verge of a Second Great Depression who are now suddenly teabagging and dressing up as Paul Revere because the big fat loud college flunkout guy on the radio told them to do so....

 

 

 

We are a nation of mostly idiots.... and, sad to say, we deserve everything that we are getting...

[phillybear 366]

Good posting

 

 

Obama is essentially a Republican president.... liberals hate Obama with a passion.

 

You just have far too many right-wing dumbasses (many right here at this site ) whose whole information source is limited to a series of chain emails and websites that state "Obummer/ONegro/BOsmomma/ON!gger is a socialist Muslim Kenyan homo who hates America" and other regurgitated GOP non-facts .... just massive idiots who sat completely and utterly quiet during Bush's trillion dollar unpaid wars and total kow-towing to Wall Street greed and overall massive spending that put us on the verge of a Second Great Depression who are now suddenly teabagging and dressing up as Paul Revere because the big fat loud college flunkout guy on the radio told them to do so....

 

 

 

We are a nation of mostly idiots.... and, sad to say, we deserve everything that we are getting...

 

A room full of politicians. A Republican stands up and shouts "I have a bad idea!!". A Democrat stands up and shouts over him "Oh, yeah? Well, I can take that idea and make it worse!!!!" Everybody else stands up and applauds.

 

Doomed. Mother focking doomed.

[Recliner Pilot 61]

Good posting

 

 

Obama is essentially a Republican president.... liberals hate Obama with a passion.

 

You just have far too many right-wing dumbasses (many right here at this site ) whose whole information source is limited to a series of chain emails and websites that state "Obummer/ONegro/BOsmomma/ON!gger is a socialist Muslim Kenyan homo who hates America" and other regurgitated GOP non-facts .... just massive idiots who sat completely and utterly quiet during Bush's trillion dollar unpaid wars and total kow-towing to Wall Street greed and overall massive spending that put us on the verge of a Second Great Depression who are now suddenly teabagging and dressing up as Paul Revere because the big fat loud college flunkout guy on the radio told them to do so....

 

 

 

We are a nation of mostly idiots.... and, sad to say, we deserve everything that we are getting...

 

Gotta love someone who thinks that if you oppose Obama's policies you are a racist commenting on the intelligence of those who oppose his policies.

 

Crying racism is the most intellectually devoid position possible. Nice job, Dumbhass.

[FeelingMN 273]

Gotta love someone who thinks that if you oppose Obama's policies you are a racist commenting on the intelligence of those who oppose his policies.

 

Crying racism is the most intellectually devoid position possible. Nice job, Dumbhass.

 

Where does he call someone who opposes Obama's policies racist? Link?

 

He said there were a series of emails/websites that stated "Obummer.......".

 

Read the comments section of any online news article. All those he listed are mentioned.

 

Where were you when the Republicans were raising the Debt Ceiling? Oh yeah, you were probably with Toby Keith lecturing half the country about how unpatriotic they were, and boycotting the Dixie Chicks.

 

 

 

Both BLS and donhaas make good points. Government is what's at issue, not Democrats or Republicans per se. Only idiots choose to side with a certain party no matter what.

[donhaas 18]

 

Both BLS and donhaas make good points. Government is what's at issue, not Democrats or Republicans per se. Only idiots choose to side with a certain party no matter what.

 

Well, I think on a superficial level that a blind allegiance and 100 percent dedication to a political party can give you some tentative comfort when everything else in your life is crumbling...

 

No matter what goes wrong in your life, at least “I'm not one of dem commie America-hatin' Entitlement Society Limousine Libs!”

 

An uncrushable and eternal liberal bogeyman takes the focus off your own pathetic life if say, you are mildly overweight and middle aged and have gay fantasies about Donald Driver; if you spend all day toiling through at a meaningless job diverting yourself online by arguing and threatening strangers while looking up obscure Maritime Sentry links to find the one ham-fisted editorial that can back up your faulty premise; or if your neglected wife is blatantly cheating on you....

 

Things might be bad, but at least I ain't no lib...... And Obama – that guy who's doing all the same sh!t Bush did – is da biggest commie lib of dem all!

[KSB2424 3,148]

Now that the name calling is over, can we get back to answering the question at hand?

 

What will happen if the debt ceiling isn't raised?

[Phurfur 70]

Keep pushing it Republicans. I want any independent voter (and I mean truly independent, not Phurfur "independent" :lol) who hasn't already figured it out to realize that the Republican party is unfit to govern. That they would truly drive the car over the cliff if they thought it would hurt Obama. That they are willing to imperil the fragile economy during a time of tepid recovery. That they couldn't give a fock about 99% of Americans as long as the top 1% gets to continue bleeding the rest of this country dry. By all means, push the issue.

 

You are really Thick.

[penultimatestraw 473]

Now that the name calling is over, can we get back to answering the question at hand?

 

What will happen if the debt ceiling isn't raised?

Presumably we default to our creditors at some point. IIRC most debt is owed to U.S. bond holders, with a minority coming from overseas. At the risk of sounding really ignorant, what is the down side of refusing to pay China their $, for example? I guess the value of the dollar would weaken, making foreign products a lot more expensive. But don't the Chinese need us to buy their cheap sh!t? Maybe not, with a billion+ customers within their borders, but still, what are the immediate and long-term consequences of defaulting to foreign creditors?

[Recliner Pilot 61]

Where does he call someone who opposes Obama's policies racist? Link?

 

He said there were a series of emails/websites that stated "Obummer.......".

 

Read the comments section of any online news article. All those he listed are mentioned.

 

Where were you when the Republicans were raising the Debt Ceiling? Oh yeah, you were probably with Toby Keith lecturing half the country about how unpatriotic they were, and boycotting the Dixie Chicks.

 

 

 

Both BLS and donhaas make good points. Government is what's at issue, not Democrats or Republicans per se. Only idiots choose to side with a certain party no matter what.

 

 

He mentions "many" people on this bored and links them to racists.

 

You just have far too many right-wing dumbasses (many right here at this site ) whose whole information source is limited to a series of chain emails and websites that state "Obummer/ONegro/BOsmomma/ON!gger

 

I don't recall racism being hurled at Obama, just a lot of people who think his policies are disastrous.

 

As for raising the debt ceiling in the past, I was against it. I have been in favor of a balanced budget amendment since the Reagan era, which is when I started paying attention to such things.

[KSB2424 3,148]

Presumably we default to our creditors at some point. IIRC most debt is owed to U.S. bond holders, with a minority coming from overseas. At the risk of sounding really ignorant, what is the down side of refusing to pay China their $, for example? I guess the value of the dollar would weaken, making foreign products a lot more expensive. But don't the Chinese need us to buy their cheap sh!t? Maybe not, with a billion+ customers within their borders, but still, what are the immediate and long-term consequences of defaulting to foreign creditors?

Yeah, I'm not totally sure either, but you make some interesting questions. Also, if we do default how would that effect (or is it affect? damn I hate engrish) interest rates? I would think interest rates would go up quite a bit. Now that would hit home for a whole lot of folks and not good for the economy.

[KSB2424 3,148]

I googled Debt Ceiling Intrerest Rates and this Bankrate.com article, which I'm assuming is halfway unbiased article popped up.

 

 

Do you think the paralysis over raising the federal debt ceiling doesn't affect you? Think again.

 

If the current political gridlock prevails, and Washington defaults on its debt payment obligations, the economy would begin freezing up almost instantly, and it could be many years before it thaws.

 

There isn't a pocketbook in America -- or for that matter, most of the world -- that wouldn't be seriously impacted. And unlike with the collapse of 2008, a fiscally crippled government would perhaps have to stand by helplessly as the economic casualties mount.

 

Washington hits the ceiling

The term "debt ceiling" has been the subject of a great deal of complicated analysis in recent weeks. But the concept of the debt ceiling is actually quite simple. It is just a limit on the total amount of borrowing Uncle Sam can have outstanding at any one time.

 

The government has hit the debt ceiling before, and always raised it in time to avert a default on its obligations. But the current game of debt-ceiling chicken is stacking up as more than run-of-the-mill political brinkmanship. As the standoff continues, our livelihoods and financial security are held hostage.

 

If, in fact, the federal government goes into default on its debt, major consequences could immediately engulf financial markets and, by extension, everyone with a stake in the U.S. economy.

 

A crash course

First, you'd have a rapid re-pricing -- in a downward direction -- of all financial assets, not just Treasury debt. Why? Government debt is considered risk-free and America's "risk-free rate" is fundamental to the pricing of all financial assets, like stocks. Recall the mayhem of 2008 when asset prices plunged as panic spread.

 

But this time, there would be no place to hide. In 2008, nervous investors fled to the safety of U.S. Treasury securities. As an asset class, they performed well as a result. But in the event of default, this safe haven would no longer be a safe haven. The unthinkable would likely soon happen: America would see its enviably unblemished credit rating cut.

 

Any cut in the U.S. credit rating would cause a stampede out of Treasuries. That would produce a domino effect, with 401(k)s, IRAs and college savings accounts plunging in value as the holdings they're invested in melted down. Faced with a sell-at-any-price panic mode, even some pensions could have trouble meeting their obligations due to rapidly falling asset prices.

 

Next, we'd quickly have a renewed credit crunch on our hands. The new market mantra would be, "If the U.S. can default, anybody can." No one would want to lend to anyone. The flow of credit would come to a screeching halt. A run on money market funds could begin. Only this time there wouldn't be a government backstop, like the one erected in 2008 to calm fearful markets.

 

As investors abandoned Treasuries, the prices would plunge. So yields -- which move inversely to price -- would bolt upward. And that is where consumers of every stripe would take a hit. They would see higher rates for mortgages and consumer loans. Furthermore, credit lines would be frozen or cut for businesses and consumers. Companies would shed workers in a bid to conserve cash, producing a rapid economic deceleration much like the fall of 2008.

 

Deal with it

Of course, this possibility of an economic perfect storm may prod Washington to make a deal soon. As a precedent, in 2008 Congress initially voted down the $700 billion financial rescue package. Wall Street promptly erased twice that amount -- $1.4 trillion -- in market value. Only then did Congress reverse course and later pass the bill.

 

In the current situation, if a default occurred but was limited to a matter of days or even hours, then, yes, asset values might quickly recover. But some economic damage would be permanent. The reason: Investors will never again view U.S. government debt as truly risk-free. And by attaching a risk premium to federal securities for the first time ever, the resulting higher-interest expenses will prove a permanent drag on economic growth. Higher rates will spread to every form of debt going forward.

 

The cataclysmic scenario outlined above doesn't have to happen. But preventing it means increasing the debt ceiling now to avert default. After that, Washington must seriously rein in the government red ink in years to come, to assure it's not just postponing an inevitable reckoning.

 

http://www.google.com/url?sa=t&source=web&cd=5&ved=0CE0QFjAE&url=http%3A%2F%2Fwww.bankrate.com%2Ffinance%2Finvesting%2Fdebt-ceiling-duel-may-floor-your-finances.aspx&ei=NIAgTsYwhc-EB93sibQD&usg=AFQjCNGf-j8BlEOPOOfo5se-E0GWqFZKEQ

[titans&bucs&bearsohmy! 2,745]

I don't remember if I responded already, but...

 

There is no focking way the debt ceiling isn't going to be raised. It would be political suicide for the Republicans.

 

Thus far, this fake "crisis" has made them look good, and Obama look bad. But it seems that the tide is beginning to turn.

 

CNN Poll

 

I think Obama has done the wise political thing in the last day or two... called the Republicans bluff.

 

When push comes to shove...

 

1. Most members of the Republican Party in Congress are not going to be willing to follow two or three teabaggers off the political cliff and end their careers.

 

2. Business interests, which own both parties, but the Republicans even more than the Democrats, don't want default, increased interest rates, etc. They will make their wh0res cave before armageddon.

 

In order to continue this past the brink, the Republicans have to be willing to piss off the voters and business. Anyone really buy that they have the balls to do that over a principle in the year before an election? I don't.

[Voltaire 5,317]

Presumably we default to our creditors at some point. IIRC most debt is owed to U.S. bond holders, with a minority coming from overseas. At the risk of sounding really ignorant, what is the down side of refusing to pay China their $, for example? I guess the value of the dollar would weaken, making foreign products a lot more expensive. But don't the Chinese need us to buy their cheap sh!t? Maybe not, with a billion+ customers within their borders, but still, what are the immediate and long-term consequences of defaulting to foreign creditors?

 

Stiffing your biggest creditor because you can't get your own house in order is very shortsighted. Do you think China or anybody else is going to loan the US any money after this? If you don't pay yor creditors first, interest rates go through the roof.

 

China also has the opportunity at any time of dumping US dollars. Now I personally think the entire midwest should send them a "Thank You" note if they did so since it would seriously devalue the dollar and make domestic manufacturing strong again, the downside would be that I would having to stop making fun of/bumping once a month the people who started the "hyper-inflation is coming" thread.

[penultimatestraw 473]

Stiffing your biggest creditor because you can't get your own house in order is very shortsighted. Do you think China or anybody else is going to loan the US any money after this? If you don't pay yor creditors first, interest rates go through the roof.

 

China also has the opportunity at any time of dumping US dollars. Now I personally think the entire midwest should send them a "Thank You" note if they did so since it would seriously devalue the dollar and make domestic manufacturing strong again, the downside would be that I would having to stop make fun of/bumping once a month the people who started the "hyper-inflation is coming" thread.

Yea, KSBs link explained this well. Though domestic US bondholders are the biggest creditors, right? And I was thinking the same thing as your second paragraph - while it may be a bitter pill to swallow initially, bringing manufacturing back to the U.S. would strengthen us long term IMO.

[Voltaire 5,317]

Yea, KSBs link explained this well. Though domestic US bondholders are the biggest creditors, right? And I was thinking the same thing as your second paragraph - while it may be a bitter pill to swallow initially, bringing manufacturing back to the U.S. would strengthen us long term IMO.

Once the US government loses it's AAA safest rating, which Moody's and S&P are ready to strip them of any day now, it will fail to meet investment standards a lot of those investment plans.

[Phurfur 70]

Now that the name calling is over, can we get back to answering the question at hand?

 

What will happen if the debt ceiling isn't raised?

Our government will be forced to run a balanced budget or bring the country to ruin. This is the true dilemma that they will not talk about.

[KSB2424 3,148]

The Republicans need to find a way to raise the debt ceiling while also making it clear that Obama's policies are a huge reason WHY it must be done and that we cannot continue with those same policies or we will be right back in the same position again in the near future. Plain and simple.

 

They do that, they come out smelling like roses. Not only politically speaking, but it's what has to happen too.

[titans&bucs&bearsohmy! 2,745]

The Republicans need to find a way to raise the debt ceiling while also making it clear that Obama's policies are a huge reason WHY it must be done and that we cannot continue with those same policies or we will be right back in the same position again in the near future. Plain and simple.

 

They do that, they come out smelling like roses. Not only politically speaking, but it's what has to happen too.

 

The fact that they raised it a bunch of times BEFORE Obama and that the wars THEY started are an enormous part of the spending problem kinda make that a hard fiction to paint.

[Phurfur 70]

The Republicans need to find a way to raise the debt ceiling while also making it clear that Obama's policies are a huge reason WHY it must be done and that we cannot continue with those same policies or we will be right back in the same position again in the near future. Plain and simple.

 

They do that, they come out smelling like roses. Not only politically speaking, but it's what has to happen too.

 

and who will carry that message? NBC, CBS, ABC, CNN, MSNBC? I don't think so.

[phillybear 366]

Looking at this logically and stripped down of bravo sierra, wouldn't someone be less inclined to deal with the U.S. in the future if they raised their debt ceiling?

 

It shows a complete lack of interest in slowing down their skyrocketing spending. Logically, I would have zero faith that the U.S. would ever try to reduce their debt and then go elsewhere to invest. It's a joke. It's throwing good money after bad money, or throwing a hot dog down nikki's hallway. I would immediately try to divest myself of financial interest with a country that mathematically cannot ever pay off their deficitg and won't even make any effort. China is bailing out on us slowly but surely already.

[titans&bucs&bearsohmy! 2,745]

and who will carry that message? NBC, CBS, ABC, CNN, MSNBC? I don't think so.

 

I'm sure fox will carry it. They love spinning right wings fairy tales.

[KSB2424 3,148]

The fact that they raised it a bunch of times BEFORE Obama and that the wars THEY started are an enormous part of the spending problem kinda make that a hard fiction to paint.

Sure, however A. a large number of these congressmen and women were not in office 8 years ago and B. The debt has risen more under Obama than any other President.

[Phurfur 70]

The fact that they raised it a bunch of times BEFORE Obama and that the wars THEY started are an enormous part of the spending problem kinda make that a hard fiction to paint.

 

The ten years of war cost us a litlle more than the stimulus.

[Recliner Pilot 61]

I'm sure fox will carry it. They love spinning right wings fairy tales.

 

Yeah, Obama's policies have nothing to do with the debt.

[Phurfur 70]

I'm sure fox will carry it. They love spinning right wings fairy tales.

 

Please give me a few examples, I could not find any.

[titans&bucs&bearsohmy! 2,745]

Yeah, Obama's policies have nothing to do with the debt.

 

Didn't say that. Of course it does.

 

But the Republicans want to paint this picture that they, the paragons of fiscal conservatism, have been fighting the responsible good fight for decades, and have to take a stand NOW to save America.

 

The truth is that in the last 40 years, there have been three Republican presidents, and two Dems. Only one ever balanced the budget, and it was a Dem. The last Republican deficit spent like a kid in a candy store.

 

Bottom line, as long as they hold the credit card, the Republican Party is more than willing to spend spend spend. But when it changes hands, they want to paint a false picture, and nobody's buying it.

 

Anybody with sense knows that Obama's proposal of cuts AND getting rid of the stupid Bush tax cuts is fair and sensible. It was dumb to cut taxes and fight unfunded wars at the same time then, and it was obvious then. That's why 67% according to the poll I cited said Obama's cuts and taxes plan is better, as opposed to 20% for cuts only.

 

If the Republicans think they are going to come out of this looking like saviors, they are wrong. They will look like they are... petulant partisan little b!tches that put elections over the good of America.

[Recliner Pilot 61]

 

 

The truth is that in the last 40 years, there have been three Republican presidents, and two Dems. Only one ever balanced the budget, and it was a Dem. The last Republican deficit spent like a kid in a candy store.

 

 

 

So, Obama + Clinton + Carter = 2. Gotcha.

 

Spending originates in the House. The only time the budget was balanced was when Reps controlled the House. Now the Reps have taken over for the disastrous Pelosi and are trying to get our fiscal house in order.

[titans&bucs&bearsohmy! 2,745]

So, Obama + Clinton + Carter = 2. Gotcha.

 

Spending originates in the House. The only time the budget was balanced was when Reps controlled the House. Now the Reps have taken over for the disastrous Pelosi and are trying to get our fiscal house in order.

 

That was a typo. I meant 30 years. My bad, sorry.

[Voltaire 5,317]

The Republicans need to find a way to raise the debt ceiling while also making it clear that Obama's policies are a huge reason WHY it must be done and that we cannot continue with those same policies or we will be right back in the same position again in the near future. Plain and simple.

 

They do that, they come out smelling like roses. Not only politically speaking, but it's what has to happen too.

 

Back in December, you were posting about how you were warming to Obama -and I remember this clearly- because it was it was the exact same reason and for the exact same logic -in reverse- that I had reached the point where I had finally given up on him.

 

Since I like you KSB, I just steamed quietly without calling you out, but I thought your posting at that time was about the most irresponsible things that you had ever written. And now, I can't take it anymore.

 

To refresh your memory, I was and remain a huge fan of the Simpson-Bowles deficit reduction plan. Cuts here, tax hikes there, I wanted everybody to embrace it. You took the exact opposite position. The deal that Obama struck with the GOP at that time (we'll keep your ridiculous tax cuts in place if you give us massive new spending- deficit? shmecifit? who cares?) I thought was the most irresponsible thing possible but yet you liked the idea. I turned my back on Obama at that point but your opinion of Obama increased significantly because of this.

 

You applauded the plan to blow up the deficit. Again, I like and respect you so when you did this I was hugely disappointed in you.

 

Anyways, anyways, I bring this up because this post here is beyond the pale. Yes, Obama is hugely responsible for this mess but so are the Republicans and among Republicans especially are you. You have no right to call out Obama on anything to do with the deficit when you in fact -with your support of low taxes and high spending as highlighted by your support of the December compromise -are part of the problem.

[KSB2424 3,148]

Only one ever balanced the budget, and it was a Dem.

Not to change the subject, as on the whole, I liked Bubba. However some of his failures reared their heads a bit later after he left office. They missed the boat on Al Qaeda during his time and Clinton's policies that tried to enable every single living person in America the ability to get a mortgage was big factor in what happened a couple years ago with the collapse. Bubba's not off the hook either in my eyes with this deficit. But I digress.....

[Recliner Pilot 61]

That was a typo. I meant 30 years. My bad, sorry.

 

 

I'd want to ignore Carter too, if he had been a Republican.

[KSB2424 3,148]

Back in December, you were posting about how you were warming to Obama -and I remember this clearly- because it was it was the exact same reason and for the exact same logic -in reverse- that I had reached the point where I had finally given up on him.

 

Since I like you KSB, I just steamed quietly without calling you out, but I thought your posting at that time was about the most irresponsible things that you had ever written. And now, I can't take it anymore.

 

To refresh your memory, I was and remain a huge fan of the Simpson-Bowles deficit reduction plan. Cuts here, tax hikes there, I wanted everybody to embrace it. You took the exact opposite position. The deal that Obama struck with the GOP at that time (we'll keep your ridiculous tax cuts in place if you give us massive new spending- deficit? shmecifit? who cares?) I thought was the most irresponsible thing possible but yet you liked the idea. I turned my back on Obama at that point but your opinion of Obama increased significantly because of this.

 

You applauded the plan to blow up the deficit. Again, I like and respect you so when you did this I was hugely disappointed in you.

 

Anyways, anyways, I bring this up because this post here is beyond the pale. Yes, Obama is hugely responsible for this mess but so are the Republicans and among Republicans especially are you. You have no right to call out Obama on anything to do with the deficit when you in fact -with your support of low taxes and high spending as highlighted by your support of the December compromise -are part of the problem.

I think my post is being misunderstood. What I'm saying, and maybe I should have worded it better, was: If I was a GOP political strategist that would be my goal. To put most of the blame on Obama (some rightfully so) while appealing to the masses.

 

I most certainly understand that GWB as well as others aren't innocent of this deficit mess either.

[Phurfur 70]

 

But the Republicans want to paint this picture that they, the paragons of fiscal conservatism, have been fighting the responsible good fight for decades, and have to take a stand NOW to save America.

 

The truth is that in the last 40 years, there have been three Republican presidents, and two Dems. Only one ever balanced the budget, and it was a Dem. The last Republican deficit spent like a kid in a candy store.

 

 

The Democrats have controlled the House 50 out of the last 61 years and they controlled the senate 42 years out of the last 61 years. The Republicans have been fighting for responsible spending for decades.

 

BTW: The House is the branch that controls the purse strings and the media has been controlling the general population for about 40 years.