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

[Stephanie]

All Democrat Senators Voted Against Raising Debt Ceiling
Posted by John Hitchcock on 17 July 2011, 2:54 am
The year was 2006. The President was George W Bush. The debt ceiling was being approached. And every Democrat Senator voted against raising the debt ceiling.



Let’s see.
Joe Biden
Barack Obama
Hillary Clinton
Harry Reid
Barbara Boxer
Chuck Schumer
And the rest of the Democrats

I guess they all wanted the US to default on its debt. I guess they all wanted senior citizens to lose their Social Security checks. I guess they all wanted Medicare and Medicaid recipients to lose their healthcare.

To hear the Democrats talk now, that’s exactly what the Democrats wanted to do back in 2006.

All Democrat Senators Voted Against Raising Debt Ceiling « Common Sense Political Thought

 

[bigrebnc1775]

OH WELL, THAT WAS THEN....NOW IS NOW

Harry Reid HYPOCRTIE on Debt Ceiling in 2006!.wmv - YouTube

How can more government debt be good for the economy?

 

[Douger]

I am not worried about the deficit. It is big enough to take care of itself.

 

[bigrebnc1775]

I am not worried about the deficit. It is big enough to take care of itself.

We must not look to government to solve our problems. Government is the problem.

 

[DSGE]

It's the new bubble. The last of the bubbles. This one is the currency. When it goes pop, I hope you all have put your savings into commodity. Of course, the paper can be handy for igniting fires once the bust comes. A year or two away....

What on earth is this supposed to mean? A "currency bubble"...?

Where the fed is bumping out worthless paper money, the more paper money printed the less it's worth more paper makes a bigger bubble.

That just creates inflation. Bubble in what? Why would that make a bubble?

 

[bigrebnc1775]

What on earth is this supposed to mean? A "currency bubble"...?

Where the fed is bumping out worthless paper money, the more paper money printed the less it's worth more paper makes a bigger bubble.

That just creates inflation. Bubble in what? Why would that make a bubble?

That's what a currency bubble is.

 

[DSGE]

Where the fed is bumping out worthless paper money, the more paper money printed the less it's worth more paper makes a bigger bubble.

That just creates inflation. Bubble in what? Why would that make a bubble?

That's what a currency bubble is.

Ahh no it's not. A "bubble" means "trade in high volumes at prices that are considerably at variance with intrinsic values". Inflation is a sustained increase in the general level of prices.

 

[bigrebnc1775]

That just creates inflation. Bubble in what? Why would that make a bubble?

That's what a currency bubble is.

Ahh no it's not. A "bubble" means "trade in high volumes at prices that are considerably at variance with intrinsic values". Inflation is a sustained increase in the general level of prices.

I bet you think the U.S. government has control and owns the U.S. dollar. The U.S. Government get's it money from a privately own bank called the federal reserve.

 

[DSGE]

That's what a currency bubble is.

Ahh no it's not. A "bubble" means "trade in high volumes at prices that are considerably at variance with intrinsic values". Inflation is a sustained increase in the general level of prices.

I bet you think the U.S. government has control and owns the U.S. dollar. The U.S. Government get's it money from a privately own bank called the federal reserve.

Didn't address anything I said, but whatever...

The Fed is responsible for monetary policy, yes. They're not privately owned. Congress delegated administration of the money supply to the Fed, though at any time may amend/revoke the Federal Reserve Act. The Fed is not privately owned. All banks under the Federal Reserve system are obliged (that is, forced) to buy equity in the Federal Reserve. This does not make them owners! This equity is to insulate the Fed from taking a loss on its balance sheet. However, local banks are able to elect the 12 regional presidents, five of whom serve on the Open Market Committee on a rotating basis (compared with 7 Governors who are appointed by the President and confirmed by the senate). The regional presidents serving on the FOMC could definitely afford to be reformed; most other central banks around the world have no such representation in monetary policy decisions. Although a lot of the time regional presidents are academic economists rather than former private sector bankers, and they can easily be outvoted by the governors.

 

[mudwhistle]

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

Shhhhhhhhhhhhhhh!!!

 

[bigrebnc1775]

Ahh no it's not. A "bubble" means "trade in high volumes at prices that are considerably at variance with intrinsic values". Inflation is a sustained increase in the general level of prices.

I bet you think the U.S. government has control and owns the U.S. dollar. The U.S. Government get's it money from a privately own bank called the federal reserve.

Didn't address anything I said, but whatever...

The Fed is responsible for monetary policy, yes. They're not privately owned. Congress delegated administration of the money supply to the Fed, though at any time may amend/revoke the Federal Reserve Act. The Fed is not privately owned. All banks under the Federal Reserve system are obliged (that is, forced) to buy equity in the Federal Reserve. This does not make them owners! This equity is to insulate the Fed from taking a loss on its balance sheet. However, local banks are able to elect the 12 regional presidents, five of whom serve on the Open Market Committee on a rotating basis (compared with 7 Governors who are appointed by the President and confirmed by the senate). The regional presidents serving on the FOMC could definitely afford to be reformed; most other central banks around the world have no such representation in monetary policy decisions. Although a lot of the time regional presidents are academic economists rather than former private sector bankers, and they can easily be outvoted by the governors.

Didn't address anything I said, but whatever

There was nothing to address just your false assumption.

The Fed is responsible for monetary policy, yes. They're not privately owned.

Thanks for playing

Q: Who owns the Federal Reserve Bank?

A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks. But the banks don’t necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.

FactCheck.org : Federal Reserve Bank Ownership

 

[DSGE]

There was nothing to address just your false assumption.

What false assumption? I gave you the definitions of "bubble" and "inflation". I made no mention to the Fed.

Thanks for playing

Q: Who owns the Federal Reserve Bank?

A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks. But the banks don’t necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.

FactCheck.org : Federal Reserve Bank Ownership

Did you just stop at the headline? How about reading on:

The concept of "ownership" needs some explaining here, however. The member banks must by law invest 3 percent of their capital as stock in the Reserve Banks, and they cannot sell or trade their stock or even use that stock as collateral to borrow money. They do receive dividends of 6 percent per year from the Reserve Banks and get to elect each Reserve Bank’s board of directors.

The private banks also have a voice in regulating the nation’s money supply and setting targets for short-term interest rates, but it’s a minority voice. Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

So everything I said was true. How about that...

 

[code1211]

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.

The difference is the scale, stupid.

Bush averaged just about the standard deficit for all administrations even including the last year which was a disaster and included all of the expense of the TARP of which half was spent by the Big 0.

The Big 0 has consistently beat that last year and appears to like doing so.

He is spending like a pimp with three days to live.

Bush only spent like a sailor on a three day leave.

Bush’s deficits vs. Obama’s deficits, in one graph | Kyle Wingfield

 

[editec]

member bansk fo the FED get 6% return on their money?

How nice for them.

I'm getting 0.25% or less on my various saving accounts.

How can I get that kind of ROI?

 

[DSGE]

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

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

The difference is the scale, stupid.

Bush averaged just about the standard deficit for all administrations even including the last year which was a disaster and included all of the expense of the TARP of which half was spent by the Big 0.

The Big 0 has consistently beat that last year and appears to like doing so.

He is spending like a pimp with three days to live.

Bush only spent like a sailor on a three day leave.

Bush’s deficits vs. Obama’s deficits, in one graph | Kyle Wingfield

 

[code1211]

How many times did Bush abnd team up the DC?

And this makes it OK for Obama to do it?
That is your best shot?

If the economy was doing well, then we would have revenue. Only Republicans trashed the economy. They helped China and the Chamber of Commerce send jobs to China so billionaires in America could have even more billions but fight tooth and nail to keep from taxing those billionaires.

Their entire scam is to "stop spending". Ask them about "growing the economy" and they don't hear you.

Greater demand for their goods and services would lead to new hiring.

When Business Owners Say "Lack of Demand," Republicans Hear "Too Many Regulations"

You are lying. Again.

In 2006, the year that the Democrat party started ruining the economy under the guidance of Harry and Nancy, There were more Americans employed within our borders than at any point in the history of the Republic. From 2007, 20 January through the same date in 2010, the Dems controlled both houses of Congress and chaired every committee controlling the spending of every dollar.

If one needs to lie to support one's beliefs, an intelligent person might suspect that those beliefs are empty.

What do you suspect of your beliefs?

 

[DSGE]

member bansk fo the FED get 6% return on their money?

How nice for them.

I'm getting 0.25% or less on my various saving accounts.

How can I get that kind of ROI?

Yep. It's highway robbery.

 

[code1211]

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

All you need to do is look at any chart that shows the history of the debt and deficit spending and it's easy to see that this problem started with Reagan.

"We were having a good economy" is no reason to borrow money. That's a reason to pay down debt. This is exactly the warped mentality that got us into this mess. In Reagan's second term we had serious economic woes including double-digit unemployment and a stock market crash.

We just kept on a-borrowing. There seems to be no economic climate in which borrowing money is not a good thing. YOu have Ronald Reagan to thank for that mentality.

I'm sure that you think that daring to write about these facts must make me some kind of liberal, don'cha?

Excellent rant. You really have not the first clue how our government works, do you.

 

[code1211]

Hypocrite that he is:

Four year ago, however, then-Sen. Barack Obama, D-Ill., voted the exact way President Obama is now cautioning senators not to do.

“The fact that we are here today to debate raising America's debt limit is a sign of leadership failure,” he said on March 16, 2006. “Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership . Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit.”

The debt limit was raised by a vote of 52-48. www.abcnews.go.com/blogs/politics

Yep. Failed Leader knows and does lead in failure.

Too bad Republicans don't "get out of the way" and let him lead. They had their shot. And left the country in shambles. Thousands of Americans dead. Tens of thousands wounded for life costing the country possibly even a couple of trillion dollars that hasn't even been realized. How much money does it cost to replace the military. How much does it cost to take care of a paraplegic or a quadriplegic for 50 years each. All of those costs Republicans will assign to Obama. ALL OF THEM!!!!

Republicans take no responsibilities for any of their failures. In fact, they blame the Democrats for not stopping them.

Bain suffers from tinnitus, post-traumatic stress disorder and serious injuries to his arms. He receives a check each month for $2,618 that helps the former Army staff sergeant pay the mortgage, food and clothing costs for his family of five in Williamsport, Pa.

Bain is one of about 755,000 veterans of the Iraq and Afghanistan wars. Of that group, the VA says more than 181,000 are collecting disability benefits.

Number Of Disabled Vets Up With Iraq, Afghan Wars

Earth to the King of Denial:

The Democrats controlled both houses of Congress for 4 years and the White House to boot for the last two of those four. They had voting majorities and chaired every committee in Congress four four years.

Before they took control, the deficit was about 200 billion, there were more American jobs than at any point in the history of the Republic and the Unemployment rate was below 5%.

Before they lost the house, the deficit was over 1.5 Trillion, Unemployment was about 10% and Americans were accepting the belief that we could not compete with the rest of the world in business.

Republicans "got out of the way" and this is the result.

 

[code1211]

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

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

Really??

Funny... I personally spoke out against Bush's increased spending and stupid economic policies...

But don't let facts get in your way, you hyper-partisan nitwit

when they made the deal last time, they knew it was temporary. the debt ceiling, right or wrong has always been something addressed as a pro forma matter since it is for debt we've already incurred.

or would the teanut gallery like to go for another reduction in our credit rating?

It's for debt that WILL BE incurred. That's the whole point. We can't exceed the debt ceiling so if we are to continue to spend money we don't have, we need permission to get the loans.