Boehner walks away from debt talks

[bripat9643]

I don't care what went on, nor do I know and neither do you. The bottom line is that they were supposed to be working out a deal and one side said "we're done." If you walk out of negotiations this late in the game it's a PR nightmare. He's just put his party in a position where they will be blamed for anything that goes wrong from now on.

Horseshit. That's Democrat spin, and nothing more.

Obama killed the deal by moving the goal posts. However, the deal had no chance in the House anyway.

 

[bripat9643]

No, that's not how negotiations work. You don't just walk out, especially when there's no time left and the stakes are so high.

Wrong, as usual. You often do walk out.

 

[MeBelle]

Bush did not spend 2.5 trillion in 2 years on a bunch of bullshit like Obama did, we where not redlined from 2000-2006 in debt either, like we are now under Obama.

HOWEVER: As Chris so succinctly stated. "Actually it is all the GOP.

Bush inherited a budget surplus, a stong economy, and a nation at peace.

He then cut taxes, his SEC allowed Wall Street to run a $516 TRILLION DOLLAR derivative Ponze scheme, and he started TWO useless wars.

He left us with a trillion dollar deficit, a shattered economy, and trillions of dollar wasted in Iraq and Afghanistan."

WTF??? 516 trillion!!!

Damn, we were in WORSE shape than I thought!

 

[MeBelle]

your misdirection is noted, you want me to go back 8 years and you refuse to answer a direct question in the here and now.

I have to conclude you refusal to answers the questions speaks to your lack of intellectual honesty.

Why were the GOP plans never submitted when they controlled government from 2000-2006?

Didn't the right run on cutting Medicare and SS from 1994 on?

Wasn't Medicare Part D also in the Medicare Modernization Act of 2003? How was Medicare Part D funded in the Medicare Modernization Act of 2003?

your misdirection is noted, you want me to go back 8 years and you refuse to answer a direct question in the here and now.

I have to conclude you refusal to answer the questions speaks to your lack of intellectual honesty.

Noting this repetitive course of posts, may I dare suggest that in eight years, SOMEONE might come back and answer the initial direct question...IMHO

 

[Patrick2]

BUSH's mess??!! the roots of the financial crisis was the leftwing Community Reinvestment Act, a sop to the democrat party's minority clients, which pushed trillions of dollars of loans out the door to unqualified minority borrowers who later defaulted.



As if the democrats didn't want a prescription bill - quit the crap. The democrats didn't like the particular bill that was adopted.

Didn't Bush push for home ownership? Bush and the Republicans controlled the government in 2003, when Medicare part D was passed.

The RINOs and the dems were in a bidding war over what to give the seniors. It's not like the dems were born-again budget hawks who told the old people to go screw themselves, they wanted a prescription bill too, but didn't want the one authored by the RINOs so they wouldn't get the credit (and votes) from the oldsters. I opposed that bill, but unlike the dems, ON PRINCIPLE.

You absolve Bush of debt incurred on his watch, but blame Obama for debt on his watch. You can't have it both ways. Read up on Gramm-Rudmann

Are you BLIND? I've already blamed both - do you just hear the wheels spinning in your head???

And oh boy, the old deregulation chesnut. Obamabots say that like robots, but don't know what they're talking about. The repeal of Glass-Steagall had NOTHING to do with the collapse, since the first banks to go, like Lehmann Brothers, were purely investment banks. YOU are the one who needs to read up, and I mean past the idiot-talking-points-for-obamabots.

 

[Chris]

Bush did not spend 2.5 trillion in 2 years on a bunch of bullshit like Obama did, we where not redlined from 2000-2006 in debt either, like we are now under Obama.

HOWEVER: As Chris so succinctly stated. "Actually it is all the GOP.

Bush inherited a budget surplus, a stong economy, and a nation at peace.

He then cut taxes, his SEC allowed Wall Street to run a $516 TRILLION DOLLAR derivative Ponze scheme, and he started TWO useless wars.

He left us with a trillion dollar deficit, a shattered economy, and trillions of dollar wasted in Iraq and Afghanistan."

WTF??? 516 trillion!!!

You really need to read more....

A £516 trillion derivatives 'time-bomb'

Not for nothing did US billionaire Warren Buffett call them the real 'weapons of mass destruction'

By Margareta Pagano and Simon Evans
Sunday, 12 October 2008

The market is worth more than $516 trillion, (£303 trillion), roughly 10 times the value of the entire world's output: it's been called the "ticking time-bomb".

It's a market in which the lead protagonists – typically aggressive, highly educated, and now wealthy young men – have flourished in the derivatives boom. But it's a market that is set to come to a crashing halt – the Great Unwind has begun.

A £516 trillion derivatives 'time-bomb' - Business News, Business - The Independent

 

[saveliberty]

The senate and the president will have a say in this. The House will do what the teaparty wants them to do and America will object and say so at the voting booth.

Using your logic, can we surmise that you believe Americans WANT their taxes increased?
Adding to that, is it your assertion that Americans are comfortable giving an already out of control spending government a virtual blank check?
BTW, the House is not doing what the tea party wants , they are doing the job Americans sent them to do . This is why the voters turned the US House over to the GOP last November.
Get it?

This is why the Republicans in congress have a 27% approval rating.

P.S. Americans want revenue increases as part of the deal.

Entitlement Americans want the rich to give them more.

 

[Shoey]

If the US government confiscated all of the wealth of all of the US billionaires it would only fund the US government for a month. If we confiscated all of the wealth from all of the millionaires it would go much further but that is really an attack on the middle class as the average American really needs to accumulate between $2-5 million for their retirement years if they expect to maintain the same life style they had prior to retirement. We can also see that the distribution of wealth did not go to the wealthy under the Bush tax cuts based upon the loss of revenues when those tax cuts were extended. The US government lost $370 billion in revenues but only $70 billion of those tax breaks went to the wealthy while $300 billion went to the middle class. We must also face the fact that simply increasing taxes does not balance the budget. The US government currently recieves about $2.5 trillion in revenues and $2.5 trillion is more than adequate to fund the US government but the Congress spends about $3.5 trillion. If we raised the taxes to generate $3.5 trillion history establishes that the Congress will spend $4.5 trillion or more. So far, from what I understand, between the Democrats and Republicans they can agree on about $3-4 trillion in reduced expendatures over the next 10 years. That's only about 10% of the projected deficits and most of that savings is five to ten years into the future which, undoubtably will never happen. We need a trillion cut in expendatures for 2012 and not a promised $200 billion reduction in 2017 that will probably never happen. Those that aren't worried about the national debt are fools. This year we spent about $150 billion in interest on the almost $14 trillion debt but that was based upon the corruption of the value of money by the Federal Reserve which forced interest rates down by creating more currency. The typical value of money which establishes interest rates is more accurately around 5% so a national debt of $14 trillion would require an interest payment of $700 billion or almost 1/3rd of all current US government revenues. To pay this interest requires taxation which does not provide for the services and delegated responsibilities of our government. Assuming a projected annual deficit of $1 trillion then if Congress can cut that budget by $630 billion then I support the repeal all of the Bush era tax cuts as their repeal would generate $370 billion in additional revenue to balance the budget. If the Congress can cut the budget by $930 billion then I could support just repeal of the tax cuts for the wealthy for those making over $200-$250/yr. Lacking the budgetary cuts necessary to balance the budget it makes no sense to increase taxes. If Congress is intent on bankrupting America then it's actually better to do it sooner than later

 

[WillowTree]

Sums it up to PERFECTION

 

[NoNukes]

Then perhaps the President should stop resisting cutting the budget now.

UM, he offered TWO TRILLION DOLLARS in cuts, including military, entitlements, etc.

Not what you're describing as "resisting cutting the budget", not at all !!

Looks like Boehner, the tan man, turned yellow !!!

He probably had a free golf junket to attend.

 

[Liability]

President Obama is speaking! Everybody hush!

ZOMG.

It turns out that what we need is leadership.

What a discovery!

 

[WillowTree]

President Obama is speaking! Everybody hush!

ZOMG.

It turns out that what we need is leadership.

What a discovery!

And, just like the fools in NOLA they plan to get him re elected?

 

[Liability]

President Obama is speaking! Everybody hush!

ZOMG.

It turns out that what we need is leadership.

What a discovery!

And, just like the fools in NOLA they plan to get him re elected?

It's difficult not to be unduly impressed with the magnitude of the President's clear and firm grasp on the obvious. Why, in a relatively short time, just recently, this President has "learned" that the debt and deficit problems actually constitute "problems!"

Talk about liberal intellectuals.

He hasn't quite figured out, yet, that there might be more effective ways to fix the problem than simply repeating the very things that took us here. But give him time (if we have enough left).

He's obviously a sterling student. I mean just look at his college transcripts . . . .

 

[WillowTree]

ZOMG.

It turns out that what we need is leadership.

What a discovery!

And, just like the fools in NOLA they plan to get him re elected?

It's difficult not to be unduly impressed with the magnitude of the President's clear and firm grasp on the obvious. Why, in a relatively short time, just recently, this President has "learned" that the debt and deficit problems actually constitute "problems!"

Talk about liberal intellectuals.

He hasn't quite figured out, yet, that there might be more effective ways to fix the problem than simply repeating the very things that took us here. But give him time (if we have enough left).

He's obviously a sterling student. I mean just look at his college transcripts . . . .

Well, hell. Look how long it took him to figure out there were no "shovel ready jobs" that he pissed away a trillion dollars on.

 

[Ernie S.]

Hahaha. I guess the Army is too black and brown for your taste. Can minority retired military still get their checks? Should whites still get welfare and SSI?

Who said anything about race? Oh you did, didn't you.

How ******* dumb are you? USArmyRetired said something about race,can't you read?

I went back 12 pages or so and all I found was this:

"The entitlements that need to be cut is welfare and SSI checks for minorities"

This is a logical partial solution, though I wish he hadn't used the word "minorities".
You see fit to expand that to the US Armed Forces after 10 or 12 pages? The race card is your play, boy.
I really don't much give a shit what color a porch monkey is. We need to get people off the porch and off to work. Raising taxes so we can pay them to sit on their asses isn't the way to create jobs.

 

[saveliberty]

I like how this is all the Republicans fault. As it turns out the President has no control of his own party and they told him to ask for $800 billion in tax increases. Up considerably from the prior numbers. Obama seems to be trying to deliberately cause a default.

 

[Ernie S.]

I think usarmyretired should have his government check cut.

He's on the public sugar teet.

So his pension should be cut so we can afford to pay mooches who have never done a single thing for this country other than to breed more mooches, to sit on their asses?

 

[saveliberty]

I don't see how we can pick favorites in solving this debt problem. If a SS retiree has to take a cut, so should a vet. If some have to take a cut, the rest of us will have to take less too.

 

[Ernie S.]

There is no doubt that the Republican leadership hopes to create a crisis for political purposes. Boehner and Cantor and the rest can point fingers at the Democrats and Obama but only the most partisan will be convinced.

I suspect there is a good deal of voter regret across America tonight and that regret will turn to anger if the limit is not raised and the even a modicum of the worst happens. First Cantor and then Boehner - the supposed Speaker of the House - simply walk away. How long would you keep your job if you did the same?

Republicans demands for fiscal responsibility are not crweating a crisis. The crisis is already here. It was caused by years of spending money we didn't have. Blame it on who ever you want, but the onl;y way to prevent collapse is to rein in spending, A LOT!

You are not fiscally responsible if you are willing to default on your debts. Being willing to default in order to reduce your spending is real insanity, far worst than overspending.

And you are not fiscally responsible if you borrow more money to pay debt you are unable to manage.
If I'm behind in my mortgage, I don't take out a loan to buy a boat. I sell my big screen or pawn my ring. I do not take on more debt.

 

[saveliberty]

And you are not fiscally responsible if you borrow more money to pay debt you are unable to manage.
If I'm behind in my mortgage, I don't take out a loan to buy a boat. I sell my big screen or pawn my ring. I do not take on more debt.

Maybe you should reconsider the boat. Houses are poor investments right now and we are going to drown in a sea of debt soon. At least get a good life jacket.