The madness that is Republican

Discussion in 'Politics' started by Ravi, Jul 23, 2011.

  1. Ravi
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    Ravi Diamond Member

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    Since 1939, Congress has raised the debt limit 89 times. That’s not a typo. The issue has come up 89 times, and in 89 instances, Congress passed a clean bill. In fact, in two-thirds of these instances, there was a Republican president, and no one ever used the vote as leverage for a reward.

    During the Bush presidency, Republicans raised the debt ceiling, without strings or preconditions, seven times. The current GOP leadership in Washington has voted to raise the debt limit 19 times. Bush’s former budget director said this “ought to be treated as the housekeeping matter it is.”

    But we’ve now reached the point at which routine housekeeping, which didn’t even give conservative Republicans a second thought as recently as 2008, is considered beyond the pale. This is madness.

    Political Animal - The easiest, most effective way to resolve the crisis
     
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  2. WillowTree
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    WillowTree Diamond Member

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    there's one tiny bit of information that seems to pass a dimocrat by.. that word is UNSUSTAINABLE.. ponder that.
     
  3. Valerie
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    Valerie Gold Member

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    5 Consequences If America Doesn’t Raise the Debt Ceiling

    Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.

    Here's what he says will happen if the federal government can't reach a deal:

    1. $4 billion-plus a day will come out of the economy.

    2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.

    3. Social security payments will be delayed.

    4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.

    5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.



    5 Consequences If America Doesn
     
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  4. WillowTree
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    WillowTree Diamond Member

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    Unsustainable Valerie.. Ponder that.
     
  5. Shoey
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    Shoey Patriot

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    I have heard many comments that basically state that if the debt ceiling is not raised that we will face the end of the world as we know it but I just don't see that happening. Often cited is that the US would default on it's financial obligations related to T-Bills causing world-wide financial chaos. I see nothing but fearmongering by those that say that failure to raise the debt limit would cause an international monetary crisis because the US would default on its contractual obligations related to the current national debt. It doesn't need to happen as we have more than enough federal revenue to meet those financial obligations. It would mean that the President would be forced to make the spending cuts necessary to balance revenues and spending. Of note President Obama is now referring to the potential failure to raise the debt ceiling as "Armaggadon" and if that is not fearmongering I don't know what is.


     
  6. dblack
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    dblack Gold Member

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    I'm not sure it was your intent to do so, but you've really provided no evidence as to why we should consider it 'madness'. Simply because we've done something habitually in the past is no reason to continue the 'tradition'.

    I'm honestly not sure what to think about the whole debt ceiling thing, but I'm certainly sympathetic to the idea of saying 'enough is enough' on exploding federal spending. It's also common practice for the powers-that-be to tell the sky will most certainly fall if we don't acquiesce to their demands.
     
    Last edited: Jul 23, 2011
  7. editec
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    editec Mr. Forgot-it-All

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    It's not madness, it the GOP working to make Obama a one term POTUS.

    That is fairly obvious, isn't it?
     
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  8. Article 15
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    Article 15 Dr. House slayer

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    To anyone with a half a brain who understands hyper partisan politics? Yes.
     
  9. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    The GOP doesn't have to do anything, it's the POTUS himself and his policies that will make him a one term president
     
  10. Stephanie
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    Stephanie Diamond Member Supporting Member

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    waaaaaaaaa, those pesky Republicans are getting in the way of giving our beloved Obama and his comrades in arms, MORE TRILLIONS TO WASTE before he leaves office. Hell, TWO TRILLION wasn't enough in just THREE YEARS.

    And they want to PREVENT him raising TAXES on people to pay for his spending spree...oh those DAMN REPUBLICANS. they are meanies
     
    Last edited: Jul 23, 2011

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