Gitmo, Debt Ceilings and Elections. Dems need to read this Board

[CrusaderFrank]

Watching Obama and the Dems backslide, flipflop, parse, lie and back away over their first principles, its obvious that Obama, if in fact he even gets the nomination, will lose the vast majority of our 57 states in 2012. Additionally, Dems will lose another 75 seats in Congress. The reason: ignorance. They have no idea which end is up.

Obama & The Dems spent 2 years lecturing us on why we could bring war criminals to US Criminal Court. The USMB Conservatives tried to tell him how this would not work....2 years later, Obama and Holder finally wake up. LOL! No, really. This really happened!

The Debt Ceiling? "America has a debt problem and a failure of leadership. America deserves better." and then Barack "Not Ready For Primetime" Obama VOTES AGAINST RAISING THE DEBT CEILING!! Why would he say such a stupid thing?

And now Nancy Pelosi tells us that Elections shouldn't matter! LOL!!

Get a Clue, Dems! Read USMB. Don't live a life of ignorance!

 

[waltky]

Uh-oh, China decidin' not to be our debt chump anymore...

U.S. Treasury: China Has Decreased Its Holdings of U.S. Debt
Friday, April 29, 2011 - Mainland China has decreased its holdings of U.S. Treasury securities since last October, according to a report updated today by the U.S. Treasury Department.

Since September 2008, when they eclipsed Japan, entities in mainland China have been the largest foreign owners of U.S. government debt. But, as indicated by the Treasury Department chart linked here, Chinese ownership of U.S. Treasury securities peaked in October 2010 and has declined in each of the four most recent months reported by the Treasury Department. At the end of October 2010, China owned 1.1753 trillion in U.S. Treasury securities. That dropped to $1.1641 trillion by the end of November, $1.1601 trillion by the end of December, $1.1547 trillion by the end of January, and $1.1541 trillion by the end of February 2011.

February is the latest month for which the Treasury has estimated foreign holdings of U.S. debt. Back in February 2001, according to historical data reported by the Treasury, the mainland Chinese owned only $63.7 billion in U.S. debt. In the ensuing decade, the Chinese massively increased their holdings of U.S. Treasury securities, and especially in the past five years. In February 2006, China owned $318.4 billion in U.S. debt and Japan owned $656.4 billion. In September 2008, the Chinese moved ahead of the Japanese in their U.S. debt holdings. At the end of that month, the mainland Chinese owned $618.2 billion in U.S. government debt and the Japanese owned $617.5 billion.

In the two years between September 2008 and September 2010, China increased its U.S. government debt holdings by $533.7 billion—from $618.2 billion to 1.1519 trillion. By the end of October 2010, China’s holdings of U.S. government debt had increased to their peak of 1.1753 trillion. After that, mainland Chinese holding of U.S. government debt declined for four straight months. Entities in Hong Kong have also been decreasing their ownership of U.S. government debt. Hong Kong ownership of U.S. Treasury securities peaked at $152.4 billion in February 2010. By the end of February 2011, that had dropped to $124.6 billion.

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See also:

Debt ceiling: More Democrats threaten to vote against raising borrowing limit
A growing number of Democrats are threatening to defy the White House over the national debt, joining Republican calls for deficit cuts as a requirement for consenting to lift the country’s borrowing limit.

The tension is the latest illustration of how the tea-party-infused GOP is driving the debate in Washington over federal spending. And it shows how the debt issue is testing the Obama administration’s clout as Democrats, particularly those from politically competitive states, resist White House arguments against setting conditions on legislation to raise the debt ceiling. The push-back has come in recent days from Sens. Kent Conrad (D-N.D.), chairman of the Senate Budget Committee, and Joe Manchin (D-W.Va.), a freshman who is running for reelection next year. Sen. Mark Pryor (D-Ark.) told constituents during the Easter recess that he would not vote to lift the debt limit without a “real and meaningful commitment to debt reduction.”

Even Sen. Amy Klobuchar (D-Minn.), generally a stalwart White House ally, is undecided on the issue and is “hopeful” that a debt-ceiling bill can be attached to a measure to cut the federal deficit, said her spokesman, Linden Zakula. Klobuchar is also up for reelection next year. Months ago it seemed unthinkable that Congress might refuse to raise the borrowing limit. Leaders in both parties agreed that failing to do so would risk a default by the U.S. government, which could send interest rates soaring and cut off Social Security checks, as well as salaries for combat troops.

And although many lawmakers and aides say a bipartisan deal is likely, the insistence on conditions by a small but pivotal group of Democrats suggests that any agreement would almost certainly have to include substantial cuts in the deficit — not just to mollify House Republicans but to satisfy Democrats who could be politically vulnerable on spending issues.

“As catastrophic as it would be to fail to raise our debt ceiling, it’s even more irresponsible to not take this opportunity to own up to our unsustainable spending path,” Sen. Mark Udall (Colo.), another Democrat challenging the White House, said in a statement his office released this week. “If we don’t take action to reduce our deficit spending, Congress will be facing this same debt ceiling vote in the near term – still with no end to our deficits in sight.”

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[Toro]

Yeah, igniting a self-induced crisis by not raising the debt ceiling is "ignorance."

lol

Outstanding.

 

[Zona]

Yeah, igniting a self-induced crisis by not raising the debt ceiling is "ignorance."

lol

Outstanding.

I really think this went right over their little heads.

 

[Zona]

Watching Obama and the Dems backslide, flipflop, parse, lie and back away over their first principles, its obvious that Obama, if in fact he even gets the nomination, will lose the vast majority of our 57 states in 2012. Additionally, Dems will lose another 75 seats in Congress. The reason: ignorance. They have no idea which end is up.

Obama & The Dems spent 2 years lecturing us on why we could bring war criminals to US Criminal Court. The USMB Conservatives tried to tell him how this would not work....2 years later, Obama and Holder finally wake up. LOL! No, really. This really happened!

The Debt Ceiling? "America has a debt problem and a failure of leadership. America deserves better." and then Barack "Not Ready For Primetime" Obama VOTES AGAINST RAISING THE DEBT CEILING!! Why would he say such a stupid thing?

And now Nancy Pelosi tells us that Elections shouldn't matter! LOL!!

Get a Clue, Dems! Read USMB. Don't live a life of ignorance!

This coming from a man who quotes Allen west in his sig. Wow. You do know he is a disgraced x army officer who was forced to retire and pay a fine or face jail dont you?

YOu do know the army is ashamed of him and yet, you quote him.


Idiots.

 

[JFK_USA]

No thanks, I have a brain and my own thoughts.

 

[waltky]

Geithner starts debt ceiling tap dance...

Treasury extends debt ceiling window to Aug. 2
May 2, 2011 -- The fallout from lawmakers' delay on the debt ceiling is getting real. Treasury Secretary Tim Geithner said Monday that he would start taking "extraordinary measures" this week to keep the country's debt below its legal limit.

In a letter to Congress, he also said that he now estimates he can keep the country out of default until Aug. 2, three weeks later than he estimated last month. The reason for the extension: The government has taken in more tax revenue than expected -- easing the country's borrowing needs. He said, however, the pace of U.S. borrowing is still on track to hit the current $14.294 trillion debt ceiling by May 16. But Geithner said he would need to take action starting this Friday because Congress is unlikely to act by May 16 and the debt is already so close to the cap -- just $58 billion below as of the end of last week.

The Treasury Department will suspend issuance of special Treasury securities that help state and local governments fund, among other things, infrastructure improvements, Geithner said. That will be the first of several steps Geithner will have to take the longer Congress delays action on the debt ceiling. Republicans and some Democrats say they will not support an increase to the debt ceiling unless it is accompanied by spending cuts and enforceable budget measures designed to keep spending or deficits down. And agreements on those types of measures will take some time.

Some lawmakers mistakenly believe that not raising the debt ceiling would somehow tamp down future spending. Geithner pushed back on that argument again on Monday. "The debt limit has never served as a constraint on future spending, nor would refusing to increase the debt limit reduce the obligations the country has already incurred." Indeed, as the Congressional Research Service has noted, even if lawmakers never pass another spending increase or tax cut, the debt ceiling would need to be increased repeatedly in the future.

As it is, the Treasury Department also estimated Monday that the country will need to borrow $547 billion during the second half of this fiscal year, which ends Sept. 30. If the debt ceiling isn't raised, lawmakers will have two choices: Either cut spending or raise taxes by that amount, or let the country miss payments on many of its legal obligations.

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[thespook]

lol i gotta say that icon of the original poster is hilarious

 

[Mr. Shaman]

Watching Obama and the Dems backslide, flipflop, parse, lie and back away over their first principles, its obvious that Obama, if in fact he even gets the nomination, will lose the vast majority of our 57 states in 2012.

Aw, jeez.....

What....he didn't get you Teabaggers his birth-certificate.....

......FAST-enough??!!!!

​

 

[Steelplate]

Gitmo... I really have a hard time giving a shit about. When they start detaining American citizens for "un-American" activities... get back to me.

debt ceilings? Until ALL of America comes to the realization that they are living high on the hog as compared to the rest of the globe, don't come crying to me about a 4% hike in income tax increases to our top 2-5 %.

My wife and I make up part of the top 15% and we are both Ok with modest increases in our income tax burden. Those that make millions, even billions of dollars every damned year? Thy have no right to complain and demand that people making $100k on down pay for everything.

 

[Avatar4321]

No thanks, I have a brain and my own thoughts.

Well, that certainly explains why you are quoting Democrat talking points so often.

 

[waltky]

Granny says, "Dat's right - dem wastin' time arguin' over the debt instada doin' sumpin' about it gonna create another financial crisis...

US debt ceiling debate a dangerous high-wire act
5/3/2011 WASHINGTON — Some fear a protracted fight over the borrowing limit could trigger another economic crisis

It has been raised nearly 80 times since 1960, often after political grandstanding by lawmakers on Capitol Hill. Despite rhetoric and partisan point-scoring, in the past both Republicans and Democrats have accepted they had no choice but to raise the cap on how much the government can borrow, and mustered the votes to do so. This time could be different. With Congress back this week from a spring recess, the battle resumes over whether to raise the United States' $14.3 trillion debt ceiling. Negotiations are expected to stretch into the summer, leaving markets jittery.

With a fragile economic recovery, opposition from lawmakers backed by the conservative Tea Party movement to increased borrowing, and a hyper-partisan Washington heading into election season, some fear a protracted fight over the borrowing limit could trigger another economic crisis. "We are walking on eggshells," said Robert F. Wescott, president of Keybridge Research, which advises Fortune 500 companies on political and economic strategy.

"The markets are nervous. The economy is still getting its feet under it. One wrong word from a debt ceiling negotiator could produce a snowball effect in the markets — and when it leaves, confidence leaves with the cavalry." Treasury Secretary Timothy Geithner said Monday he would begin to take extraordinary measures this week to stave off a potential U.S. government default. He predicts the debt limit will be breached next week, on May 16. Geithner said he could avoid default until Aug. 2, but repeated his warning that a failure to raise the borrowing cap would have a "catastrophic" impact on the economy. And for the first time, he acknowledged that it could take weeks for Congress to vote on the issue.

If the debt ceiling is not raised, investors may fear that the United States could not repay its loans and so would sell U.S. government bonds. That would drive down bond prices and force the United States to offer higher interest rates to make its debt more attractive to lenders — a move that would lead to a dangerous spike in interest rates throughout the economy. Geithner, along with a coalition of Wall Street banks, manufacturers and business groups, have been engaged for weeks in an intense lobbying campaign to persuade Republicans to back a borrowing limit increase, and to do it quickly. But hopes of a early vote are fading.

More Debt ceiling debate a dangerous high-wire act - Politics - More politics - msnbc.com

 

[KissMy]

Yeah, igniting a self-induced crisis by not raising the debt ceiling is "ignorance."

lol

Outstanding.

I really think this went right over their little heads.

Obama voted against raising the debt ceiling. So the facts have smacked your lying ass upside your stupid head.

 

[editec]

If your point is that Obama isn't the left leaning commie that the right wing cranks seem to think he is?

Yes, those of us who truly are leaning left, more than noticed that fact.

O is, much as Clinton was, part of the New Republican LITE party...the segment of the D party that actually controls the DNC.

This is ONLY NEWS to thye right wing.

The lefties (the real lefties, not the imaginary lefties that the right wingers see under every bed) never really had much faith or great expectations in Obama. (except perhaps as it regards health care reform..he really fucked the left there)

Why?

Well I think it must be because we listened to what he said in the campaign and heard what sounded to us like more of the same old Republican-lite shit.