New Calls on GOP Side Not to Lift Debt Limit .

Discussion in 'Politics' started by ScreamingEagle, Jan 18, 2011.

  1. ScreamingEagle
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    ScreamingEagle Gold Member

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    Three potential Republican candidates for president came out against boosting the federal debt limit without substantial spending cuts, raising the temperature in a debate that is quickly becoming a test of Washington's newfound appetite for financial discipline.

    Rep. Mike Pence of Indiana and former Republican House Speaker Newt Gingrich on Monday joined former Minnesota Gov. Tim Pawlenty in calling for spending cuts and opposing any increase in the $14.3 trillion debt ceiling without them.

    "Congressman Pence does not believe conservatives should support an increase in the debt ceiling unless it is married to very real and significant reductions in spending in the short term and long term," Pence spokesman Matt Lloyd said Monday. Gingrich spokesman Rick Tyler said Mr. Gingrich holds "the same position."

    Congressional GOP leaders say a vote to raise the limit is inevitable if the nation is to avoid defaulting on its loans. They hope to formulate a compromise that combines increasing the debt limit with a package of spending cuts.

    Mr. Pawlenty on Sunday called on congressional Republicans to block an increase and instead proposed legislation that he said would prevent a U.S. default.

    In an interview with The Wall Street Journal, Mr. Pawlenty said Congress should pass legislation that would put interest and debt payments ahead of other federal spending and allow the federal government to pay its creditors as tax revenue flows in. With the surge of tax payments that come in between April and June, that would at least buy time to try to cut spending dramatically, he said.

    "This debate about how we're going to restructure spending is inevitable. My view is, let's have it now," Mr. Pawlenty said in the interview. "Let's call their bluff." On "Fox News Sunday," both Mr. Pawlenty and New Jersey Republican Gov. Chris Christie called on Congress to reject the debt-ceiling increase.

    New Calls on GOP Side Not to Lift Debt Limit - WSJ.com
     
  2. Intense
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    Intense Senior Member

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    We should live within our means.
     
  3. Old Rocks
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    Old Rocks Diamond Member

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    Of course, the cuts suggested will all be in the social realm, and with a few cosmetic touchs for the Military-Industrial complex. And certainly more tax cuts for the very wealthy.
     
  4. Intense
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    Intense Senior Member

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    I support across the board cuts. When reason and common sense are applied. There is plenty of waste and misappropriation to go around.
     
  5. ScreamingEagle
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    ScreamingEagle Gold Member

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    The military is the ONE thing we need to support and improve...thanks to Obama he is making us into a weak nation...

    As far as tax cuts....we need to revamp the entire system of taxes....i would like to see us have the lowest taxes in the world.....instead of some of the highest...
     
  6. zzzz
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    zzzz Just a regular American

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    But they have been saying for years they are triming the fat off. There is only so much fat on a piece of steak before you start cutting into meat itself.
     
  7. Old Rocks
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    Old Rocks Diamond Member

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    I see. Cut income, increase spending on the military, and forget about the debt.
     
  8. editec
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    editec Mr. Forgot-it-All

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    There is really NO SOLUTION that doesn't demand that SOMEBODY's Oxen are gored, folks.

    Not any that doesn't start with a revolution, at least.

    And in that case EVERYBODY'S OXEN are gored.

    I happen to be reading an excellent book, right now.

    It's called LORDS OF FINANCE.

    It is describing the events leading up to the great depression in both Europe and the USA.

    One of the things I find especially interesting is to see how the USA, England, France and Germany all took different paths in the hope of keeping inflation in check while rebuilding their economies.

    For those of you who are Gold bugs or into macro, I suspect this will challenge your POV just as it has challenged my own (anti-gold standard POV).

    Amont other things it clearly show us how four different economic/monetary policies still basically FAILED to protect all four societies from the GREAT DEPRESSION.

    Additionally it clearly shows us how each policy lead to pain for DIFFERENT SEGEMENTS of the nation's classes.

    Some of you folks here (right or left) who are as fascinated by macro as I am, will, I believe find this book worth your time.
     
  9. Intense
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    Intense Senior Member

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    Like Automatic Raises, Benefit Packages, and Vacation Time, not to mention Retirement Scams. Buy a Fucking Lottery Ticket already, and stop fleecing the rest of us. ;)
     
  10. Oddball
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    Oddball BANNED Supporting Member

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    Well, except for the ruling class, who have access to the currency printing presses.
     

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