But for the Debt Ceiling

Discussion in 'Politics' started by CrusaderFrank, Jul 9, 2011.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    But for the debt ceiling, would Obama and the Dems even be considering any spending cuts at all?

    My guess is no
     
    Last edited: Jul 9, 2011
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Dey gonna fix it or dey gonna punt?...
    :confused:
    Go big on the debt ceiling
    July 9, 2011: President Obama and lawmakers should seize the opportunity to start making real changes to reduce the debt, budget expert Maya MacGuineas argues.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Gettin' down to the wire...
    :eusa_eh:
    Obama: Need a debt deal in next 10 days
    Jul 10, 2011 - President Obama said tonight that lawmakers have to strike a deficit-cutting deal to raise the nation's $14.3 trillion debt ceiling within the next week and a half, lest the government risk a damaging default on its financial obligations.
    See also:

    Debt ceiling: Slow grind
    July 10, 2011: Still no deal: President Obama met with Democrat Nancy Pelosi and Republican John Boehner on Sunday.
     
  4. editec
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    editec Mr. Forgot-it-All

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    I think you're right.

    But for the fact that Obama is the POTUS would the GOP be demanding spending cuts before they increased the debt ceiling?

    The fact that past history of Republican POTUSs raising debt ceilings while also cutting taxes suggest they wouldn't.

    So what does that really tell you, Cru?

    Is either party really sweating the national debt?

    Not really, right?
     
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    Last edited: Jul 11, 2011
  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    We never had such a reckless,clueless ideologue as POTUS before. His deficits are more that any Reagan budget and he thinks bank ATM's and airport kiosks are the cause and he thinks it's funny that he can blow a few hundred billion on "Not so shovel ready" projects.
     
  6. Anachronism
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    Anachronism BANNED

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    NEITHER SIDE has any moral high ground to stand on with this issue.
     
  7. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Im not convinced they are considering it now. 4 Trillion 12 years from now when most of them wont be in office isn't likely to happen and they know it.
     
  8. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says dey's liable to foreclose onna White House...
    :eusa_eh:
    China Urges US to Protect Investors as Debt Ceiling Deadline Looms
    July 14, 2011 - China is calling on the United States to protect the interests of its investors as its politicians engage in a policy battle that has brought it to the brink of default.
     
  9. auditor0007
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    auditor0007 Gold Member

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    You may well be correct on this point. At the same time though, Republicans are completely against raising revenue in any meaningful way, so it goes both ways. That is why we need both parties to at least attempt to work together. We actually have a the perfect opportunity to get many of the necessary spending cuts done and increase revenue at the same time. All it would take is a bit of compromise on each side. At this point though, the only ones willing to even discuss compromise are the Dems.
     
  10. auditor0007
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    auditor0007 Gold Member

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    Frank, have you happened to take a good look at what is causing these huge deficits by chance? It isn't massive increases in discretionary spending although there have been a few. The biggest part of these deficits is a loss in revenue, which at this point is falling below 15% of GDP, far below the average of the last 60 years, and a full 5% to 6% below 2000. Considering revenue should be $1 trillion higher than it is, we are really only running a spending deficit of around $700 billion of which around $300 billion is excess military spending due to wars we should not be fighting, especially being that they were never funded through higher taxes. So that leaves $400 billion of deficit due mainly to increases in discretionary spending which has been put in place due to the horrific economy.

    You really need to get off the "Obama is a clueless ideologue". The truth is he's caved to almost everything the Republicans have asked. He extended the damn Bush tax cuts, something he should not have. He's offered cuts in entitlement spending, which so far has been refused by the Republicans. I mean, come on, what do you want?
     

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