How long with republicans play chicken with our economy?

[RetiredGySgt]

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.

Wrong as usual. The people elected Republicans to bring down the Budget and bring down the debt. The proven absolute REFUSAL of the Democrats in the Senate and the President to cut anything and their refusal to create a budget lays squarely on them.

We have not had a budget in 3 years. The Democrats never passed one after Obama was elected and have refused every year to pass one. Including this year.

The House has moved on the issue and every attempt to creat a budget has died when the Senate absolute refuses to consider House Budget bills. And the people KNOW it.

 

[wimpy77]

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.

Wrong as usual. The people elected Republicans to bring down the Budget and bring down the debt. The proven absolute REFUSAL of the Democrats in the Senate and the President to cut anything and their refusal to create a budget lays squarely on them.

We have not had a budget in 3 years. The Democrats never passed one after Obama was elected and have refused every year to pass one. Including this year.

The House has moved on the issue and every attempt to creat a budget has died when the Senate absolute refuses to consider House Budget bills. And the people KNOW it.

I came back to say you're an utter dumbass. People will blame both parties and they should. Both parties are complete dumbfucks and wouldn't know how to balance their damn checkbook. You're going to have to do both. You're going to have to cut spending (2 trillion dolars in cuts have been agreed to) and eventually you're going to have raise taxes.

 

[editec]

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.

Yes they can renege on their other debt obligations like for example" military retiree's salaries, veterans hospitals, social security payments and so forth.

Now the above retiree classes are both OWED the money, but so are the BOND HOLDERS owed money by the Federal government.

Which group to you think is more likely to get screwed by the Republicans, RGS?

The wealthy bond holders or the lttle people like you?

 

[RetiredGySgt]

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.

Yes they can renege on their other debt obligations like for example" military retiree's salaries, veterans hospitals, social security payments and so forth.

Now the above retiree classes are both OWED the money, but so are the BOND HOLDERS owed money by the Federal government.

Which group to you think is more likely to get screwed by the Republicans, RGS?

The wealthy bond holders or the lttle people like you?

They can instead cut out all the Unconstitutional programs the Federal Government runs. There is no Constitutional authority for Social programs to the General public. Exactly how much would that save?

 

[code1211]

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?

A trillion dollars of deficit reduction OVER THE NEXT TEN YEARS and the dems think they have controlled a problem that is producing a deficit growth of a trillion dollars over THE NEXT SIX MONTHS.

Teaching economics to a Democrat is like teaching ballet to a squid.

 

[code1211]

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.

Across the nation, Governors and State Legislature have reined in spending in response to reduced revenue. The Big 0, Harry and Nancy saw the decreased revenues and INCREASED spending.

What's wrong with this picture?

The Dems have not submitted a budget to date for this year and missed last year, too. They have not produced anything to vote on to reduce the deficit. They are content to watch the republic go broke and do absolutely nothing to save it.

You blame the Republicans who are at least acknowledging that there is a problem.

You have been duped into believing that taking all of the wealth of the "rich" will solve the problem and it won't. The problem is the spending. Control the spending and the problem is solved.

In your own household budget, how much more do you spend than you take in? How long do you think that this can continue?

 

[code1211]

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.

Everybody got a tax cut.

 

[Truthmatters]

Funny that they want all this austerity to be done on the dem watch.

The right seemed completely uninterested on their watch.

 

[RadiomanATL]

Just thought I'd point out that it takes two to play chicken.

 

[Truthmatters]

So the republicans cause our debt limit to not be raised and then the world economy tanks.

The only people not in pain will be the uber rich who can become the new kings of the world.

I guess the republicans voting on this (or not voting) have already picked the king they will serve to avoid being subject to the fray.

 

[editec]

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

Yes they can renege on their other debt obligations like for example" military retiree's salaries, veterans hospitals, social security payments and so forth.

Now the above retiree classes are both OWED the money, but so are the BOND HOLDERS owed money by the Federal government.

Which group to you think is more likely to get screwed by the Republicans, RGS?

The wealthy bond holders or the lttle people like you?

They can instead cut out all the Unconstitutional programs the Federal Government runs. There is no Constitutional authority for Social programs to the General public. Exactly how much would that save?

The FED can not save anything given that the social security administration is currently owed $ 4 trillion dollars, amigo.

How much in Government bonds does the Military Retirement program own, sport?

ZERO.

Now seriously, which group do you think are more likely to get screwed?

The BOND OWNERS like the banks, pension funds and superwealthy who own US debt instruments or the people like you whose claim is merely based on a contract, a contract that can (and often has been) be changed by Congress??

 

[mudwhistle]

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 won't go up unless Ben Bernacke raises them.

If you're talking about interest rates on the debt, who's fault is that? Who keeps spending, is sitting on the sidelines doing nothing, and is attempting to pay down some of the debt to remain under the debt-ceiling by printing money?

Answer: The Obama Administration

The GOP doesn't have the votes to ruin the economy. The President needs to get his ass off the golf-course and get to work. And the Dems need to stop talking about raising taxes in a weak economy. That is the last thing you should do.

What is the best way to get out of debt?

Is it to keep spending at current levels or is it to start cutting back?

The Dems are the ones ruining the economy and now they're attempting to blame it on the folks that want to fix it.

 

[code1211]

Funny that they want all this austerity to be done on the dem watch.

The right seemed completely uninterested on their watch.

You're right.

However, the magnitude of the problem has increased dramatically since the Dems took control of both Houses and then the Big 0 was elected. Did the training program for Dems omit the chapters on how to construct a budget?

Since the Big 0 took the reigns, which is to say let go of the reigns altogether, the debt has increased at a rate that is 4 times greater than the rate of increase under Bush.

W spent money like a sailor on a three day leave.

The Big 0 is spending money like a pimp with three days to live.

 

[Momanohedhunter]

Funny that they want all this austerity to be done on the dem watch.

The right seemed completely uninterested on their watch.

You're right.

However, the magnitude of the problem has increased dramatically since the Dems took control of both Houses and then the Big 0 was elected. Did the training program for Dems omit the chapters on how to construct a budget?

Since the Big 0 took the reigns, which is to say let go of the reigns altogether, the debt has increased at a rate that is 4 times greater than the rate of increase under Bush.

W spent money like a sailor on a three day leave.

The Big 0 is spending money like a pimp with three days to live.

But Obama kept spending, and wants to continue spending. Not good.

 

[code1211]

So the republicans cause our debt limit to not be raised and then the world economy tanks.

The only people not in pain will be the uber rich who can become the new kings of the world.

I guess the republicans voting on this (or not voting) have already picked the king they will serve to avoid being subject to the fray.

Please explain how one Party or the other is more at fault if neither will agree with either. Also explain to what you refer to as being voted on or not voted on. The Dems won't put naything forward on which a vote may take place.

Failure to agree or comprimise is a failure on both sides.

However, with that said:

Failure to see reality is a triumph of political strategy over national need. We have no money. Creating a plan that addresses this might be a good first step. Continuing on a path with no budget and no plan that spends more money knowing that we are broke is insanity.

Which side in this debate has a plan?

Which side has created a budget?

Which side has no plan, no budget and no intention of addressing the issue?

As long as the Big 0 and the Democrats have determined that it is politically more profitable to not get engaged and to not make any decision about anything no matter how important it might be, the two sides have no area in which to comprimise.

A comprimise usually starts by both sides stating a position and then seeking areas of commonality. Once that's complete, and that's the easy part, agreeing on common goals is the next step.

The Democrats will not make the first step and have not made any effort to state their goals which can only be done by constructing a budget. Absent a budget, any other blabber is just that.

That is why Ryan walked out. The Dems are not serious. We have elected these pussies who are afraid to do anything, decide anything and commit to anything. We deserve what they deliver to us which is disaster.

We are screwed and every day that the Dems are holding us down, the screwing continues.

I thought that it was a bad idea to not raise the debt limit, but I'm changing my mind, or, rather, the idiot Dems are changing it for me. They are not serious and they are not desrving of any respect or consideration.

Let the default begin. Let the Big 0 be forever associated with the failure of the original USA.

 

[code1211]

Yes they can renege on their other debt obligations like for example" military retiree's salaries, veterans hospitals, social security payments and so forth.

Now the above retiree classes are both OWED the money, but so are the BOND HOLDERS owed money by the Federal government.

Which group to you think is more likely to get screwed by the Republicans, RGS?

The wealthy bond holders or the lttle people like you?

They can instead cut out all the Unconstitutional programs the Federal Government runs. There is no Constitutional authority for Social programs to the General public. Exactly how much would that save?

The FED can not save anything given that the social security administration is currently owed $ 4 trillion dollars, amigo.

How much in Government bonds does the Military Retirement program own, sport?

ZERO.

Now seriously, which group do you think are more likely to get screwed?
The BOND OWNERS like the banks, pension funds and superwealthy who own US debt instruments or the people like you whose claim is merely based on a contract, a contract that can (and often has been) be changed by Congress??

Let's let history be our guide. In the bailout of GM, the Bondholders got screwed and the union members got a car company.

I guess the bondholders will get screwed and the SEIU Members will make out okay.

 

[Momanohedhunter]

So the republicans cause our debt limit to not be raised and then the world economy tanks.

The only people not in pain will be the uber rich who can become the new kings of the world.

I guess the republicans voting on this (or not voting) have already picked the king they will serve to avoid being subject to the fray.

Please explain how one Party or the other is more at fault if neither will agree with either. Also explain to what you refer to as being voted on or not voted on. The Dems won't put naything forward on which a vote may take place.

Failure to agree or comprimise is a failure on both sides.

However, with that said:

Failure to see reality is a triumph of political strategy over national need. We have no money. Creating a plan that addresses this might be a good first step. Continuing on a path with no budget and no plan that spends more money knowing that we are broke is insanity.

Which side in this debate has a plan?

Which side has created a budget?

Which side has no plan, no budget and no intention of addressing the issue?

As long as the Big 0 and the Democrats have determined that it is politically more profitable to not get engaged and to not make any decision about anything no matter how important it might be, the two sides have no area in which to comprimise.

A comprimise usually starts by both sides stating a position and then seeking areas of commonality. Once that's complete, and that's the easy part, agreeing on common goals is the next step.

The Democrats will not make the first step and have not made any effort to state their goals which can only be done by constructing a budget. Absent a budget, any other blabber is just that.

That is why Ryan walked out. The Dems are not serious. We have elected these pussies who are afraid to do anything, decide anything and commit to anything. We deserve what they deliver to us which is disaster.

We are screwed and every day that the Dems are holding us down, the screwing continues.

I thought that it was a bad idea to not raise the debt limit, but I'm changing my mind, or, rather, the idiot Dems are changing it for me. They are not serious and they are not desrving of any respect or consideration.

Let the default begin. Let the Big 0 be forever associated with the failure of the original USA.

They all spend to much money.

 

[JimH52]

Polls show Americans say that both cuts and tax increases on the rich are needed to balance the budget. Obviously, repubs don't agree. They are given cuts to social programs, and then they walk away when the topic of rolling back the tax rate for the super rich is raised.

So, as we approach default, who do you think most Americans will blame? Yup, the repubs. The Kingdom of Hypocrites. Compromise for the repubs is "Do as I say, but don't ask me for any concessions."

If they do, by chance, gain the WH and Congress in 2012, we will see Herbert Hoover all over again. You better start stashing away cash now.

 

[SFC Ollie]

Polls show Americans say that both cuts and tax increases on the rich are needed to balance the budget. Obviously, repubs don't agree. They are given cuts to social programs, and then they walk away when the topic of rolling back the tax rate for the super rich is raised.

So, as we approach default, who do you think most Americans will blame? Yup, the repubs. The Kingdom of Hypocrites. Compromise for the repubs is "Do as I say, but don't ask me for any concessions."

If they do, by chance, gain the WH and Congress in 2012, we will see Herbert Hoover all over again. You better start stashing away case now.

Did President "I won" teach you that?

 

[Flopper]

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.

Wrong as usual. The people elected Republicans to bring down the Budget and bring down the debt. The proven absolute REFUSAL of the Democrats in the Senate and the President to cut anything and their refusal to create a budget lays squarely on them.

We have not had a budget in 3 years. The Democrats never passed one after Obama was elected and have refused every year to pass one. Including this year.

The House has moved on the issue and every attempt to creat a budget has died when the Senate absolute refuses to consider House Budget bills. And the people KNOW it.

Voters may have elected a Republican House to bring down spending, but they certainly didn’t elect them to create a financial crisis that would trigger another recession.

The Republican controlled House will be held responsible by voters for any financial crisis resulting from the Republican plan to force spending cuts by not increasing the debt limit. House Republicans have far more to lose than the Democrats in this high-staked game of chicken. This is why Senate Democrats are not making any meaningful concessions to the House. If House Republicans don’t carry back to their constituents some meaningful concessions from Democrats, they aren’t going to be very happy but if the Republicans stand their ground and that results in a financial crises, nobody is going to be happy with them. Democrats are not under such pressure.

If Congress does not approve raising the debt limit, then the administration will have a free hand in determining where the money is to be spent. They can decide which programs get money, which contracts are paid, and which states get funds. Congress will in effect, be assigning to the administration their duty of determining how taxpayer money is to be spent.