What the F Obama , He wants to raise the debt ceiling again

[EdwardBaiamonte]

I guess 5 trillion he has added to the debt was not enough. Obama Wants to Raise the Debt Ceiling Again - Yahoo! News

Bush Jr. did it 7 times and nobody bitched then.

Why now? Oh yeah.......it's because Obama did it.

you're right, why now? I say wait till $30 trillion and in the mean time, relax.

 

[EdwardBaiamonte]

It doesn't fucking matter which moron started our death spiral.

Reagan

J: The National Bureau of economic Research in 1999 declared the period 1982-99(The Reagan Era) one continuous macroeconomic expansion, " the longest sustained period of prosperity in the twentieth century."
J: and of course this is not to forget that Reagan ended the cold war, saved the world from nuclear annihilation, and set billions free from liberal communism.

J: When Reagan took office the misery index (unemployment + inflation was 20, when he left it was 10. In "The 7 Fat Years" Bartley aptly summarize Reagan's years by saying, "It was like we added another California to the US economy.

J: Kemp Roth was the largest tax cut in American History; enacted 8 months after Reagan too office. The Dow Jones average doubled during Reagan and real federal revenue grew by 24%.

NY Times: "One popular misconception is that the Republican tax cuts caused the crippling budget deficit now approaching 300 billion a year. The fact is the deficit resulted because the government vastly expanded what it spent each year." The new spending went to the military, but since it defeated communism it was worth every penny!!

Remarks by Governor Ben S. Bernanke


The Great Moderation
One of the most striking features of the economic landscape over the past twenty years or so has been a substantial decline in macroeconomic volatility. In a recent article, Olivier Blanchard and John Simon (2001) documented that the variability of quarterly growth in real output (as measured by its standard deviation) has declined by half since the mid-1980's, while the variability of quarterly inflation has declined by about two thirds. Several writers on the topic have dubbed this remarkable decline in the variability of both output and inflation "the Great Moderation." Similar declines in the volatility of output and inflation occurred at about the same time in other major industrial countries, with the recent exception of Japan, a country that has faced a distinctive set of economic problems in the past decade.

By ARTHUR B. LAFFER
For 16 years prior to Ronald Reagan's presidency, the U.S. economy was in a tailspin—a result of bipartisan ignorance that resulted in tax increases, dollar devaluations, wage and price controls, minimum-wage hikes, misguided spending, pandering to unions, protectionist measures and other policy mistakes.

In the late 1970s and early '80s, 10-year bond yields and inflation both were in the low double digits. The "misery index"—the sum of consumer price inflation plus the unemployment rate—peaked at well over 20%. The real value of the S&P 500 stock price index had declined at an average annual rate of 6% from early 1966 to August 1982.

For anyone old enough today, memories of the Arab oil embargo and price shocks—followed by price controls and rationing and long lines at gas stations—are traumatic. The U.S. share of world output was on a steady course downward.

Then Reagan entered center stage. His first tax bill was enacted in August 1981. It included a sweeping cut in marginal income tax rates, reducing the top rate to 50% from 70% and the lowest rate to 11% from 14%. The House vote was 238 to 195, with 48 Democrats on the winning side and only one Republican with the losers. The Senate vote was 89 to 11, with 37 Democrats voting aye and only one Republican voting nay. Reaganomics had officially begun.

President Reagan was not alone in changing America's domestic economic agenda. Federal Reserve Chairman Paul Volcker, first appointed by Jimmy Carter, deserves enormous credit for bringing inflation down to 3.2% in 1983 from 13.5% in 1981 with a tight-money policy. There were other heroes of the tax-cutting movement, such as Wisconsin Republican Rep. Bill Steiger and Wyoming Republican Sen. Clifford Hansen, the two main sponsors of an important capital gains tax cut in 1978.

View Full Image


Associated Press
Ronald Reagan after signing his first tax cut, Aug. 14, 1981.

 

[CrusaderFrank]

It doesn't fucking matter which moron started our death spiral.

Reagan

Obama Deficits > Reagan Budget

 

[EdwardBaiamonte]

It doesn't fucking matter which moron started our death spiral.

Reagan

Obama Deficits > Reagan Budget

Obama's deficits will be greater than all other American presidents combined !!

 

[edthecynic]

I guess 5 trillion he has added to the debt was not enough. Obama Wants to Raise the Debt Ceiling Again - Yahoo! News

Bush Jr. did it 7 times and nobody bitched then.

Why now? Oh yeah.......it's because Obama did it.

It's because we are self aware of the debt now and the threat it imposes. Obama can stop this run away train or he can throw more coal in the fire box.

Stop defending stupidity JUST BECAUSE you like Obama.

NO, it's because CON$ are only "self aware of the debt" when Dems are President, therefore you crybabies have no credibility.

St Ronnie attacked Carter for the debt during the campaign, but as soon as Reagan was elected deficits that were generational theft in the campaign suddenly didn't matter for him or Bush I to follow. But once Clinton was elected, the debt was once again Satanic generational theft. But once Bush II was elected, deficits no longer mattered until the next Dem was elected president.

In other words, people don't believe you when you whine that the debt is a threat since it is never a threat when the GOP are spending like drunken sailors!
Get it?

 

[ABikerSailor]

St. Ronnie is also the one that wanted to build a 500 ship Navy.

Biggest mistake he ever made concerning the presidency.

 

[samjones]

J: The National Bureau of economic Research in 1999 declared the period 1982-99(The Reagan Era) one continuous macroeconomic expansion, " the longest sustained period of prosperity in the twentieth century."
J: and of course this is not to forget that Reagan ended the cold war, saved the world from nuclear annihilation, and set billions free from liberal communism.

J: When Reagan took office the misery index (unemployment + inflation was 20, when he left it was 10. In "The 7 Fat Years" Bartley aptly summarize Reagan's years by saying, "It was like we added another California to the US economy.

J: Kemp Roth was the largest tax cut in American History; enacted 8 months after Reagan too office. The Dow Jones average doubled during Reagan and real federal revenue grew by 24%.

NY Times: "One popular misconception is that the Republican tax cuts caused the crippling budget deficit now approaching 300 billion a year. The fact is the deficit resulted because the government vastly expanded what it spent each year." The new spending went to the military, but since it defeated communism it was worth every penny!!

Remarks by Governor Ben S. Bernanke


The Great Moderation
One of the most striking features of the economic landscape over the past twenty years or so has been a substantial decline in macroeconomic volatility. In a recent article, Olivier Blanchard and John Simon (2001) documented that the variability of quarterly growth in real output (as measured by its standard deviation) has declined by half since the mid-1980's, while the variability of quarterly inflation has declined by about two thirds. Several writers on the topic have dubbed this remarkable decline in the variability of both output and inflation "the Great Moderation." Similar declines in the volatility of output and inflation occurred at about the same time in other major industrial countries, with the recent exception of Japan, a country that has faced a distinctive set of economic problems in the past decade.

By ARTHUR B. LAFFER
For 16 years prior to Ronald Reagan's presidency, the U.S. economy was in a tailspin—a result of bipartisan ignorance that resulted in tax increases, dollar devaluations, wage and price controls, minimum-wage hikes, misguided spending, pandering to unions, protectionist measures and other policy mistakes.

In the late 1970s and early '80s, 10-year bond yields and inflation both were in the low double digits. The "misery index"—the sum of consumer price inflation plus the unemployment rate—peaked at well over 20%. The real value of the S&P 500 stock price index had declined at an average annual rate of 6% from early 1966 to August 1982.

For anyone old enough today, memories of the Arab oil embargo and price shocks—followed by price controls and rationing and long lines at gas stations—are traumatic. The U.S. share of world output was on a steady course downward.

Then Reagan entered center stage. His first tax bill was enacted in August 1981. It included a sweeping cut in marginal income tax rates, reducing the top rate to 50% from 70% and the lowest rate to 11% from 14%. The House vote was 238 to 195, with 48 Democrats on the winning side and only one Republican with the losers. The Senate vote was 89 to 11, with 37 Democrats voting aye and only one Republican voting nay. Reaganomics had officially begun.

President Reagan was not alone in changing America's domestic economic agenda. Federal Reserve Chairman Paul Volcker, first appointed by Jimmy Carter, deserves enormous credit for bringing inflation down to 3.2% in 1983 from 13.5% in 1981 with a tight-money policy. There were other heroes of the tax-cutting movement, such as Wisconsin Republican Rep. Bill Steiger and Wyoming Republican Sen. Clifford Hansen, the two main sponsors of an important capital gains tax cut in 1978.

View Full Image


Associated Press
Ronald Reagan after signing his first tax cut, Aug. 14, 1981.

Yes. Like Eward just wrote. It all started with Reagan and this notion that you increase revenue by cutting taxes and that you get richer by borrowing more money and all that.

People have been screaming about deficit spending for a good long while now. I still remember looking up at the debt clock by Bryant Park wondering what they were going to do with their 12 digit clock if that number ever turned over to a trillion.

 

[EdwardBaiamonte]

In other words, people don't believe you when you whine that the debt is a threat

If people don't believe $15 trillion is threat that merely means they are stupid. BO had 2 communist parents and his debt will be more than all other others presidents combined.

 

[EdwardBaiamonte]

you get richer by borrowing more money and all that.

if Reagan said that I'll pay you $10,000? Bet or admit to being a liberal.

 

[edthecynic]

In other words, people don't believe you when you whine that the debt is a threat

If people don't believe $15 trillion is threat that merely means they are stupid. BO had 2 communist parents and his debt will be more than all other others presidents combined.

Well, if you want to stoop to that level, Bush was born of a Nazi and named in honor of a Nazi and he ran up more debt than all previous presidents combined.

How can 15 trillion be that bad when the Lyin' Ryan budget CON$ worship increases the debt to 23 trillion????

 

[samjones]

you get richer by borrowing more money and all that.

if Reagan said that I'll pay you $10,000? Bet or admit to being a liberal.

Dude - give it up. It was Reagan that started this borrowing fiasco. You haven't even attempted to deny it.

In his defense, he got lots of help from the Bush's and lately from BO.

But it was him who started it.

 

[EdwardBaiamonte]

Well, if you want to stoop to that level, Bush was born of a Nazi and named in honor of a Nazi and he ran up more debt than all previous presidents combined.

But, Bush was a conservative who wanted to privatize SS, health care, and education, plus he was for a BBA. BO had 2 communist parents and wants single payer socilaist health care. That means the government pays all the bills. Bush and BO are opposites, you just lack the ability to understand it

How can 15 trillion be that bad when the Lyin' Ryan budget CON$ worship increases the debt to 23 trillion????

Again it all seems over your head. Ryan tried for best he could get given Democrats. Ron Paul wants to cut $1 trillion first year. Since Jefferson founded party 100% of support for responsible government has been Republican. 4 attempts at Balanced Budget just last year and of course all opposed by liberals. Coincidence it was liberals who spied for Stalin?

 

[EdwardBaiamonte]

you get richer by borrowing more money and all that.

if Reagan said that I'll pay you $10,000? Bet or admit to being a liberal.[/QUOTE]

Dude - give it up. It was Reagan that started this borrowing fiasco. You haven't even attempted to deny it.

actually i denied what you said and bet you 10,000. Then you changed the subject.

In his defense, he got lots of help from the Bush's and lately from BO.

But it was him who started it.

his debt was trivial, happened during the greatest period of growth in US history, and Reagan was a small government conservative.

BO is the opposite, he had 2 communist parents, his debt is huge and during the worst recession in 100 years, and his philosophy is liberal big government anti American, single payer socialist. Catching on now?

 

[edthecynic]

How can 15 trillion be that bad when the Lyin' Ryan budget CON$ worship increases the debt to 23 trillion????

Again it all seems over your head. Ryan tried for best he could get given Democrats. Ron Paul wants to cut $1 trillion first year. Since Jefferson founded party 100% of support for responsible government has been Republican. 4 attempts at Balanced Budget just last year and of course all opposed by liberals. Coincidence it was liberals who spied for Stalin?

BULLSHIT!

The GOP controlled the House, so Lyin' Ryan could have gotten any bill he wanted passed.

So I ask yet again, if 23 trillion is acceptable for Lyin' Ryan, then why isn't the same 23 trillion acceptable for Obama?

 

[Stephanie]

[ame=http://www.youtube.com/watch?v=3CMy2M32g4k]Obama called Bush "UNPATRIOTIC" - YouTube[/ame]

 

[edthecynic]

Reagan was a small government conservative.

BULLSHIT!!!

St Ronnie grew the government!!!

 

[EdwardBaiamonte]

BULLSHIT!

The GOP controlled the House, so Lyin' Ryan could have gotten any bill he wanted passed.

BO had a super majority and could not get a public option. You've got in office confused with in control!! Think about that over and over.

So I ask yet again, if 23 trillion is acceptable for Lyin' Ryan, then why isn't the same 23 trillion acceptable for Obama?

who cares about Ryan?? I care about Ron Paul and the all the Republicans since Jefferson and Newt who wanted a Balanced Budget Amendment. Newt passed his in the house and it failed by one vote in the Senate. Do you know what our debt would be today if Democrats had sided with Newt then? Coincidence liberals spied for Stalin??

 

[DSGE]

you get richer by borrowing more money and all that.

if Reagan said that I'll pay you $10,000? Bet or admit to being a liberal.

What's the deal, dude? Why are you constantly ranting about liberalism? Seriously, what do you think liberalism is, that it should be constantly derided?

 

[EdwardBaiamonte]

Seriously, what do you think liberalism is, that it should be constantly derided?

America was founded by conservatives who wanted freedom and liberty from big liberal government. Modern liberals are opposed to this 100% and in fact spied for Stalin. Obama had 2 communist parents and voted to the left of Bernie Sanders. Do you understand now?

 

[EdwardBaiamonte]

Reagan was a small government conservative.

BULLSHIT!!!

St Ronnie grew the government!!!

Its over your head I'm afraid. Reagan did not control the government. In America there are 3 branches of government plus the people and the press.