How long with republicans play chicken with our economy?

[JimH52]

National debt time bomb ticks toward crisis - Business - Eye on the Economy - msnbc.com

Interest rates may begin to rise far before August. There is nothing the Republican Party would like more than to see the economy totally tank a little over year before the 2012 elections. I believe that is their plan. Tank the economy so that Obama goes. Do they know what ramifications this will hold. We could easily see double digit interest rates.

But they need to hold on to their main supporters, the rich. There CANNOT be a roll back to pre-W days for the taxes the wealthy owe. If we default, the world will drop immediately into depression, but at least the rich will still be able to eat, thanks to the republicans.

 

[RetiredGySgt]

Yup, the OUTRIGHT refusal of the Democrats to rein in spending and cut the deficit is of course no problem right? We can just continue to borrow 50 cents on every dollar we pay indefinitely right?

 

[Dont Taz Me Bro]

Right on cue, Jim marches off with his DNC talking points.

 

[hortysir]

Not raising debt ceiling =/= default




Fuck, I get so damned tired of repeating that

 

[CrusaderFrank]

Obama is driving the economy off a cliff, he won't stop spending, he won't lead, the Chinese have already divested $1Trillion os US debt and aren't buying any more and most of all, he claims an ATM kicked his economy's ass. Take the wheel away from the Dems before they kill the economy

 

[JimH52]

Last I heard 2 Trillion dollars in cuts had been agreed upon. The Democrats have agreed to cut some programs for the impovished. But a roll back to pre-W tax rates is unthinkable. There is no way we get out of this deficit mess by only programs for the poor.

The GOP says:
-leave the tax breaks for big oil along
-leave the tax rates for the wealthy long

BUT WE ARE GROWING BROKE!

But we can cut programs for the lower income. That seem fair to you?

 

[C_Clayton_Jones]

How long with republicans play chicken with our economy?

Until Obama caves, which they know he’ll do. The GOP is reprehensible in their reckless disregard, jeopardizing the world economy for political gain – the House is like a pit bull on a bear’s lip: mindless, relentless, deadly.

I hope Obama hangs tough and calls the cowards’ bluff; unfortunately Obama’s the only adult in the process and will do the responsible thing to keep the recovery on track, even if it costs him re-election.

What Obama seems to fail to understand is that the GOP only respects force, not reason, facts, or intellect.

Posts by the right in this and other threads is evidence of that.

 

[SFC Ollie]

We cannot tax our way out of this debt. There simply isn't enough money out there to do it.

We have no choice but to cut spending. Once we have done that, then and only then would I agree with a very modest across the board tax hike.

If I'm going to pay more I want everyone else to pay more.

And stop giving people thousands of dollars more than they paid in on their taxes.....

 

[whitehall]

National debt time bomb ticks toward crisis - Business - Eye on the Economy - msnbc.com

Interest rates may begin to rise far before August. There is nothing the Republican Party would like more than to see the economy totally tank a little over year before the 2012 elections. I believe that is their plan. Tank the economy so that Obama goes. Do they know what ramifications this will hold. We could easily see double digit interest rates.

But they need to hold on to their main supporters, the rich. There CANNOT be a roll back to pre-W days for the taxes the wealthy owe. If we default, the world will drop immediately into depression, but at least the rich will still be able to eat, thanks to the republicans.

What's the first issue democrats tackled when they won the majority in the House and Senate four years ago? Fannie Mae was going broke when the new banking chairman Barney Frank told Americans it was fine. Democrats went after Steroid use in Baseball with grand well publicized senate hearings. It's reasonable to assume that democrats either didn't have a clue or they intentionally tanked the economy before the presidential election. Since Barney Frank gave an uncharacteristic "frank" statement that he had "ideological blinders" on when he lied to Americans about Fannie Mae's condition it is reasonable to assume that democrats intentionally allowed or caused Fannie to go under which led to the banking crisis which led to Americans electing Barry Obama.. Republicans have had the majority in congress for about six months and the senate still has a democrat majority. To listen to the whining on the left you would think that republicans owned the government.

 

[Kevin_Kennedy]

National debt time bomb ticks toward crisis - Business - Eye on the Economy - msnbc.com

Interest rates may begin to rise far before August. There is nothing the Republican Party would like more than to see the economy totally tank a little over year before the 2012 elections. I believe that is their plan. Tank the economy so that Obama goes. Do they know what ramifications this will hold. We could easily see double digit interest rates.

But they need to hold on to their main supporters, the rich. There CANNOT be a roll back to pre-W days for the taxes the wealthy owe. If we default, the world will drop immediately into depression, but at least the rich will still be able to eat, thanks to the republicans.

Interest rates need to rise. It's called a correction for a reason.

 

[Momanohedhunter]

National debt time bomb ticks toward crisis - Business - Eye on the Economy - msnbc.com

Interest rates may begin to rise far before August. There is nothing the Republican Party would like more than to see the economy totally tank a little over year before the 2012 elections. I believe that is their plan. Tank the economy so that Obama goes. Do they know what ramifications this will hold. We could easily see double digit interest rates.

But they need to hold on to their main supporters, the rich. There CANNOT be a roll back to pre-W days for the taxes the wealthy owe. If we default, the world will drop immediately into depression, but at least the rich will still be able to eat, thanks to the republicans.

When will Obama stop spending like a spoiled house wife ?

 

[C_Clayton_Jones]

We cannot tax our way out of this debt. There simply isn't enough money out there to do it.

No one says otherwise.

The problem will be solved only with both tax increases and spending cuts. The problem is the GOP refuses to consider the former.

 

[JimH52]

We cannot tax our way out of this debt. There simply isn't enough money out there to do it.

We have no choice but to cut spending. Once we have done that, then and only then would I agree with a very modest across the board tax hike.

If I'm going to pay more I want everyone else to pay more.

And stop giving people thousands of dollars more than they paid in on their taxes.....

The GOP line is NO TAX INCREASES! Period! You would be flogged if Cantdoit Cantor heard you. Yes, entitlements need to be reworked, programs need to be cut, but the tax rate needs to return to pre-W rates. A President that was fighting two wars and awarded the wealthy a tax cut, should have had his head examined. This precipitated the worse economic callapse since the great depression.

 

[Momanohedhunter]

We cannot tax our way out of this debt. There simply isn't enough money out there to do it.

We have no choice but to cut spending. Once we have done that, then and only then would I agree with a very modest across the board tax hike.

If I'm going to pay more I want everyone else to pay more.

And stop giving people thousands of dollars more than they paid in on their taxes.....

The GOP line is NO TAX INCREASES! Period! You would be flogged if Cantdoit Cantor heard you. Yes, entitlements need to be reworked, programs need to be cut, but the tax rate needs to return to pre-W rates. A President that was fighting two wars and awarded the wealthy a tax cut, should have had his head examined. This precipitated the worse economic callapse since the great depression.

Yes it did, but it is not good to keep spending.

 

[RetiredGySgt]

We cannot tax our way out of this debt. There simply isn't enough money out there to do it.

No one says otherwise.

The problem will be solved only with both tax increases and spending cuts. The problem is the GOP refuses to consider the former.

Wrong as usual. Tax increases will not be considered until the Democrat agree to cut the budget. The Democrats are refusing to do that. In discussions on CUTTING the Budget Democrats are demanding MORE money not cuts at all. I personally hope the Republicans do not budget. Until the IDIOT democrats agree to and actually do DEFICIT reduction NO new taxes. And when we get new taxes NO NEW spending.

Historically one can look back and see that EVERY single time that taxes were raised the Democrats immediately spent more.

 

[xsited1]

How long with republicans play chicken with our economy?

Can a moderator correct the title of the OP? I'm pretty sure he meant to say 'Democrats'.

 

[Flopper]

Yup, the OUTRIGHT refusal of the Democrats to rein in spending and cut the deficit is of course no problem right? We can just continue to borrow 50 cents on every dollar we pay indefinitely right?

You don't control debt by refusing to pay your debts. You control your debt by reducing spending. Forcing the government into default if it does not reduce spending makes even less sense that runaway government spending.

 

[RetiredGySgt]

Yup, the OUTRIGHT refusal of the Democrats to rein in spending and cut the deficit is of course no problem right? We can just continue to borrow 50 cents on every dollar we pay indefinitely right?

You don't control debt by refusing to pay your debts. You control your debt by reducing spending. Forcing the government into default if it does not reduce spending makes even less sense that runaway government spending.

The Government has the income to pay the debt with out a spending increase. They just chose to use the money for other purposes.

 

[Annie]

National debt time bomb ticks toward crisis - Business - Eye on the Economy - msnbc.com

Interest rates may begin to rise far before August. There is nothing the Republican Party would like more than to see the economy totally tank a little over year before the 2012 elections. I believe that is their plan. Tank the economy so that Obama goes. Do they know what ramifications this will hold. We could easily see double digit interest rates.

But they need to hold on to their main supporters, the rich. There CANNOT be a roll back to pre-W days for the taxes the wealthy owe. If we default, the world will drop immediately into depression, but at least the rich will still be able to eat, thanks to the republicans.

When will there be a budget? How can anyone suggest a ceiling, when there's no budget?

 

[Flopper]

Yup, the OUTRIGHT refusal of the Democrats to rein in spending and cut the deficit is of course no problem right? We can just continue to borrow 50 cents on every dollar we pay indefinitely right?

You don't control debt by refusing to pay your debts. You control your debt by reducing spending. Forcing the government into default if it does not reduce spending makes even less sense that runaway government spending.

The Government has the income to pay the debt with out a spending increase. They just chose to use the money for other purposes.

In which case the government would default on contracts or other commitments. Either way, it would create a financial crisis very likely to trigger another recession for which the voters would hold Republicans responsible.