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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on July 25, 2011, 06:19:36 AM
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White House stokes debt-ceiling crisis (No to new plan)
http://www.washingtonpost.com/blogs/right-turn/post/white-house-stokes-debt-ceiling-crisis/2011/03/2 ^ | 7/25 | rubin
Posted on Monday, July 25, 2011 9:07:48
A Republican aide e-mails me: “The Speaker, Sen. Reid and Sen. McConnell all agreed on the general framework of a two-part plan. A short-term increase (with cuts greater than the increase), combined with a committee to find long-term savings before the rest of the increase would be considered. Sen. Reid took the bipartisan plan to the White House and the President said no.”
(Excerpt) Read more at washingtonpost.com ...
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WTF is wrong with this maniac?
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The house and senate should just pass the bill and then force Obama's hand.
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To me, given the realities of the situation, I am ok by that for now. its the best we can expect under the circumstances with Typhoid Barry as POTUS.
This is all about one thing - Obama 2012 - nothing else.
Obama wants some 10 year deal so he doesnt have to deal with this again and so he can run on having some bullshit "historic achievement" to blather on about.
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To me, given the realities of the situation, I am ok by that for now. its the best we can expect under the circumstances with Typhoid Barry as POTUS.
This is all about one thing - Obama 2012 - nothing else.
Obama wants some 10 year deal so he doesnt have to deal with this again and so he can run on having some bullshit "historic achievement" to blather on about.
Fuck Obama, if nothing else this demonstrates he doesn't give a shit about the country only himself
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Isnt he just doing liberal policy?
He wants tax increase and repub wants spending cuts
If taxes go up people with money will have a little less money
If spending is cut people get less access to health treatment and benefits
Is all how you value the options
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Isnt he just doing liberal policy?
He wants tax increase and repub wants spending cuts
If taxes go up people with money will have a little less money
If spending is cut people get less access to health treatment and benefits
Is all how you value the options
Now is not the time for that.
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No your right but you could argue that its not the right time to stand firm on no tax increases like the repub
Just trying to see both sides here
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Isnt he just doing liberal policy?
He wants tax increase and repub wants spending cuts
If taxes go up people with money will have a little less money
If spending is cut people get less access to health treatment and benefits
Is all how you value the options
Taxing more isn't going to fix anything, the government has to get spending under control. The class warfare BS coming from DC is getting really old.
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No your right but you could argue that its not the right time to stand firm on no tax increases like the repub
Just trying to see both sides here
Tax who? The money we are spending is so grotesque that you could tax everyone who makes over $1 m illion a year at 100% and it would not even put a dent in the problem.
we have a spending problem, not a taxing problem.
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No your right but you could argue that its not the right time to stand firm on no tax increases like the repub
Just trying to see both sides here
What about a budget? Why hasn't one been passed in over a year? Starting to think this shit was orchestrated
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Is anyone else worried about what could happen if these goofy Democrat and Republican termites don't come up with a plan and we default? I hope and pray that the consequences will be minimal.
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Is anyone else worried about what could happen if these goofy Democrat and Republican termites don't come up with a plan and we default? I hope and pray that the consequences will be minimal.
Its obama who is the problem. Reid and Boehner agreed to a deal and the commie dirtbag rejected it.
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Harry Reid to Introduce $2.5 Trillion All-Cuts Spending Plan – No Tax Hikes
Gateway Pundit ^ | July25,2011 | Jim Hoft
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Senate Majority Leader Harry Reid is set to introduce a $2.5 trillion all-cuts spending plan today with no new tax hikes. The plan meets GOP requirements that the debt ceiling be increased with dollar for dollar spending cuts. The Politico reported:
Democratic leaders said on Monday that they are looking toward Senate Majority Leader Harry Reid’s upcoming new proposal to raise the debt ceiling as offering “hope” for a deal – and warned time is fast running out.
“I think we’ve got 48 hours within which to do something very, very meaningful,” Assistant House Minority Leader James Clyburn (D-S.C.) said on MSNBC’s “Morning Joe.”
The plan that leads to progress, he said, could be Reid’s Sunday proposal, which would cut at least $2.7 trillion in spending and be matched by an equal increase to the debt ceiling.
Citing Reid’s plan, Sen. Chuck Schumer (D-N.Y.), the third-ranking Senate Democrat, said, “I think there’s some hope today” for progress.
“Sen. Reid is going to put forth an offer that meets the Democrats’ main criteria, going past 2012, and the two Republican criteria — enough cuts to equal the amount you raise the debt ceiling and no revenues,” Schumer said on MSNBC. “And I think that has some hope.”
Reid’s as-yet-to-be-unveiled plan, Schumer said, has the potential to be sufficiently conciliatory to House Speaker John Boehner’s (R-Ohio) caucus that an agreement can be reached. “Hopefully it’s the kind of thing that Speaker Boehner can rally his tea party troops toward,” he said.
It’s also the kind of proposal that can get enough Democratic support to pass both the House and the Senate, Schumer said.
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Boehner agreed to that and he and Reid proposed it to obama who rejected it.
This is all on that disgusting vile thug in the WH the morons in this country hope and changed into office.
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What about a budget? Why hasn't one been passed in over a year? Starting to think this shit was orchestrated
I agree it seems very weird
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Obama should take the deal
Spending needs to be cut no doubt about it
Tax increases is a method to increase revenue but without cuts it doesnt matter
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Obama should take the deal
Spending needs to be cut no doubt about it
Tax increases is a method to increase revenue but without cuts it doesnt matter
More workers increases revenue, jacking around and making the prospect of hiring even worse will not help one bit
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Posted at 08:00 AM ET, 07/25/2011
White House stokes debt-ceiling crisis
By Jennifer Rubin
http://www.washingtonpost.com/blogs/right-turn/post/white-house-stokes-debt-ceiling-crisis/2011/03/29/gIQAvx8DYI_blog.html
A Republican aide e-mails me: “The Speaker, Sen. Reid and Sen. McConnell all agreed on the general framework of a two-part plan. A short-term increase (with cuts greater than the increase), combined with a committee to find long-term savings before the rest of the increase would be considered. Sen. Reid took the bipartisan plan to the White House and the President said no.”
If this is accurate the president is playing with fire. By halting a bipartisan deal he imperils the country’s finances and can rightly be accused of putting partisanship above all else. The ONLY reason to reject a short-term, two-step deal embraced by both the House and Senate is to avoid another approval-killing face-off for President Obama before the election. Next to pulling troops out of Afghanistan to fit the election calendar, this is the most irresponsible and shameful move of his presidency.
As for the House, why not pass the deal that Sen. Harry Reid agreed to, send it to the Senate and leave town? Enough already.
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More workers increases revenue, jacking around and making the prospect of hiring even worse will not help one bit
Thats a different discussion there is no jobs for the workers and its only getting worse as companies move overseas
The jobs are not coming back and people who insist on it is lying to the people
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Thats a different discussion there is no jobs for the workers and its only getting worse as companies move overseas
The jobs are not coming back and people who insist on it is lying to the people
And why are jobs going over sea's? Wouldn't have anything to do with the government setting tax rates (2nd highest in the world) and creating an anti job growth environment would it? We have far to many politicians who embrace globalization and not American exceptionalism.
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And why are jobs going over sea's? Wouldn't have anything to do with the government setting tax rates (2nd highest in the world) and creating an anti job growth environment would it? We have far to many politicians who embrace globalization and not American exceptionalism.
FROM MY OTHER THREAD - WHAT EVERY LIBERAL DIPSHIT ON THIS BOARD STILL DOES NOT GRASP.
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The federal government bureaucracy has become so oppressive that it is amazing that anyone is still willing to hire workers in this day and age.
Hiring workers has become so complicated and so expensive that many small business owners want to avoid it at all cost.
For example, a small business owner identified as "007" recently left the following comment on one of my recent articles....
Speaking as a small employer, I would rather have a root canal than another employee. Let’s see. You first have to hire someone you trust without some labor lawyer suing you for some type of discrimination. Then you have OSHA to make sure your work place is safe. Then you have workmans compensation insurance, unemployment taxes, health insurance, liability insurance, now Obamacare. Oh be careful not to be deemed to have a “hostile work environment”. Then you have to negotiate the labor laws. The Department of Labor is constantly cranking out regulation.
Then you get the pleasure of paying payroll taxes both state and federal along with the required filing of a multitude of payroll forms. Miss filing or paying these taxes and you will be crushed with interest and penalties.
Of course, you are competing with businesses that can hire at a fraction of the cost of American Labor and with very little regulations. In this economy, no one in their right mind is hiring into this unstable and declining economy.
If business turns down all you have to worry about is laying off workers. Of course your unemployment insurance tax will go up 200% for years. Then you only have to then worry about a wrongful termination law suit.
The entire system is stacked against American workers.
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Updated: Sun., Jul. 24, 2011, 10:53 PM
Debt-fight doomsayers
By CHARLES GASPARINO
I've lost count of how many times President Obama and Treasury Secretary Tim Geithner have said over the last three days that America might default if the debt-ceiling impasse continues. For the good of the country, let's hope the markets have forgotten as well.
It's hard to see how Obama, Geithner or White House Chief of Staff Bill Daley could have had the good of the country in mind as they made the rounds of the Sunday talk shows -- spreading dire predictions about default if the debt ceiling isn't raised in the fashion that they and their Democratic allies believe appropriate.
For all their apocalyptic talk, they're still demanding a budget deal filled with jobs-killing taxes, even as unemployment remains north of 9 percent.
OK, a default would be a disaster. A US failure to pay bond holders could tank the Dow and upend the bond markets, where companies borrow to finance everything from plant and equipment to employee salaries.
Credit cards might not work because banks won't have access to borrowed money to lend to consumers. Forget about getting a loan to buy a house or a car.
In other words, the economy could come to a halt.
But there's no reason for default even if there's never a debt-ceiling hike.
Even if Congress and the president remain deadlocked past the Aug. 2 deadline, when the feds are supposed to run out of money to pay all their bills, a default still leaves them with plenty of cash to pay the most important ones.
Uncle Sam takes in $2 trillion in tax revenues yearly and spends around $200 billion on debt interest. Geithner can cover the bond payments just fine -- and hold off on sending out other checks.
Of course, it wouldn't be pretty to stiff defense contractors and agribiz giants while a budget deal is hammered out, but it's way better than the financial calamity a default is likely to spark.
Perhaps more important to Obama & Co., default would leave less room for government spending for the rest of our lives -- because the country would have to pay much higher interest rates on its debt when we come back to the markets. (We'd definitely have to; even under the most austere budgets talked about in Washington, the country will still have a deficit for the foreseeable future.)
So why are Obama & Co. using the "D word" so obsessively? Here's two possibilities:
One: They really mean it. Obama would rather stiff bondholders than cut the size of government. I find that hard to believe, even though he's devoted his years in office to expanding government so dramatically.
Two: Obama's crew loves chaos. Remember: These guys rode to victory in 2008 largely because of the financial collapse -- and won with promises to lead a moderate economic course that put Americans back to work.
We've gotten the stimulus, the car-company takeovers, ObamaCare, tons of regulation and vows to hike taxes on "millionaires" who make $250,000 -- and an economy that's nowhere close to taking off.
But the political formula might work. This president knows how to play the blame game -- and how to look moderate while he's doing it. A situation in which the markets crater this week on fears of a default gives him a handy club. With support from his allies in the media, it might be one big enough to cow Republicans into caving to his demands for higher taxes in a debt deal.
So far, the bond markets have remained relatively calm through the whole impasse. Most investors don't seriously fear a decline in the country's bond rating, no matter what the rating agencies say about the country's fiscal problems. Investors don't believe any president is nutty enough to actually walk away from obligations to global creditors.
But that was before the events of this weekend. So let's hope they weren't watching TV.
Charles Gasparino is a Fox Busi ness Network senior correspondent.
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Read more: http://www.nypost.com/p/news/opinion/opedcolumnists/debt_fight_doomsayers_AhCKQLmjQi8e3phgFwi46O#ixzz1T872Go00
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And you people wonder why I call him "Typhoid Barry" ? ?
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Is anyone else worried about what could happen if these goofy Democrat and Republican termites don't come up with a plan and we default? I hope and pray that the consequences will be minimal.
There's no possible way we default on our foreign debt. We will take in $172 billion revenue in August and our foreign debt obligation is $29 billion. Some federal workers/contractors and recipients of social handouts may not get paid, but that's kind of the point. Force Obama to make some tough choices and get everyone thinking along a new normal. We either do it now when there's still time or wait until we can't even pay our foreign debt obligation.
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Obama kills bipartisan deal, then Reid resorts to smoke and mirrors
Washington Post ^ | 7/25/2011 | Jennifer Rubin
As I reported earlier, the president rejected a bipartisan congressional deal that would have calmed the markets, resolved the debt-ceiling crisis and restored faith in Washington politicians. President Obama was having none of it, demonstrating once and for all that the problem is NOT the House Republicans, but the election-obsessed White House.
So then the parties begin to devise separate congressional plans. The Post reports, “Senate Democrats are preparing to introduce legislation that would avert a national default on Aug. 2 and achieve $2.7 trillion in deficit savings over the next decade without raising taxes.”
But Senate Majority Leader Harry Reid is devising a sham that will never pass muster in the House. A Capitol Hill source with knowledge of the plan tells me: “It includes $1.2 trillion in OCO [Overseas Contingency Operations] savings . . . which was assumed anyway, $1.2 trillion (over $1.1 trillion less than [Majority Leader Eric] Cantor identified in the Biden talks) and $300 billion in interest savings.” A Senate aide says dryly that Reid “has about a trillion in ‘savings’ from ending the war in Iraq that’s already going to end.” And a disgusted House adviser bluntly tells me that Reid’s plan “isn’t real.”
(Excerpt) Read more at washingtonpost.com ...
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Whoever still plans to vote for this human wrecking ball should be waterboarded daily for the rest of their lives.
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GASPARINO: White House Privately Telling Bankers That We Won't Default If Debt Deadline Missed
Business Insider ^ | 07/25/2011 | Joe Weisenthal
It's looking more and more likely that Congress will not hit the August 2 deadline, but according to Charlie Gasparino you should have no fear.
He reports that in secret, the administration has been making calls to Wall Street, telling bankers that the administration will find a way to avoid no matter what.
It's not clear what that means: Payment prioritization, the 14th Amendment option, or perhaps some new special measure Geithner could pull out to conserve cash?
That being said, the Administration reportedly does believe that a downgrade is still likely without a deal that cuts costs.
A lot of folks have suspected that August 2 isn't REALLY a debt default day... it might explain the market's ennui at the failure of politicians to solve this issue.
Meanwhile, one GOPer is out saying that if Obama did let a default happen that he'd possibly be impeached, which is hilarious because others have talked about impeachment in the event that the 14th Amendment is invoked.
(Excerpt) Read more at businessinsider.com ...
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it's bush you has you guys in the situation you face, it is obama being to republican in practice that is continuing this issue.
the republicans have no chance in 2012 and will be crushed, to bad there wasn't a real libertarian around to clean up the mess.
middle class spending power has decreased in the last decade, with millionaires seeing a 23% increase in total wealth, the rich keep benefiting and the poor suffer, its not rocket science. Suggesting cuts to massively popular programs will not benefit anyone. The people who keep the economy a float are the money spenders, not the big corporations. People who have to spend the majority of their checks to live, provide life to the economy.
trickle down economics does not work, it never has not sure why people keep buying into this job creation lie, it hasn't occured, human nature won't allow it.
In fact, JP morgan recently commented that increase in profits were do to lowering wages and cutting programs.
If you are middle class and you think far right ideology is correct you are shooting yourself in the foot. Look at the evidence.
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it's bush you has you guys in the situation you face, it is obama being to republican in practice that is continuing this issue.
the republicans have no chance in 2012 and will be crushed, to bad there wasn't a real libertarian around to clean up the mess.
middle class spending power has decreased in the last decade, with millionaires seeing a 23% increase in total wealth, the rich keep benefiting and the poor suffer, its not rocket science. Suggesting cuts to massively popular programs will not benefit anyone. The people who keep the economy a float are the money spenders, not the big corporations. People who have to spend the majority of their checks to live, provide life to the economy.
trickle down economics does not work, it never has not sure why people keep buying into this job creation lie, it hasn't occured, human nature won't allow it.
In fact, JP morgan recently commented that increase in profits were do to lowering wages and cutting programs.
If you are middle class and you think far right ideology is correct you are shooting yourself in the foot. Look at the evidence.
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Stick to meds, you knowledge on this issue is pathetic.
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Stick to meds, you knowledge on this issue is pathetic.
http://www.dailykos.com/story/2011/07/25/998479/-Republicans-cant-even-say-yes-to-Reids-$27-trillion-spending-cut-proposal
dude you are in the minority, the vast majority of the educated and smart people are on the democratic side, are you not aware of that? the tea party is full of morons, like bachmann and her degree from a christian shit mill ORU or whatever name they have changed to now.
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LMAO!!!!!
Yeah, the majority of the dem party are blacks, govt union thugs, college kids not yet working, and parasites sucking off the tit of the taxpayer.
Dude - stick with canadian issues - you have no clue about what goes on here.
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this fucking thread is a lie, lol
http://thinkprogress.org/yglesias/2011/07/25/277811/harry-reid-calls-house-republicans-bluff/
loving the skewed reality.