Obama on Debt Limit... interdasting.
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Obama on Debt Limit... interdasting.
Posted by mytigger on 10/16 at 3:58 pm
quote:

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills...America has a debt problem and a failure of leadership. Americans deserve better."


quote:

- Senator Barack Obama, 2006


On this, the President and I agree.


This post was edited on 10/16 at 3:59 pm

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Posted by Tigerlaff on 10/16 at 3:59 pm to mytigger
I mean, he's right. He just wants the middle class taxed more to pay it down.


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Posted by constant cough on 10/16 at 3:59 pm to mytigger
Bush's Fault!


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Posted by Lsut81 on 10/16 at 4:00 pm to mytigger
This again?


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Posted by TrueTiger on 10/16 at 4:00 pm to mytigger
Obama loves failure.


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Posted by BobBoucher on 10/16 at 4:24 pm to TrueTiger
Lets see how this unfolds. Huge debt is largely from the bailout during his first term. The past two years the annual debt has been reduced faster than at any point since the Korean War (50 yrs - this is per McConnell)

If this annual reduction continues at that pace, we should be actually paying down the debt by the time Obama leaves office.

For those of you who think we should just slash gov spending overnight and start paying down the debt tomorrow, the sudden withdrawal of billions of gov money from the economy would have seriously negative consequences.

A calculated reduction over time would minimize impact and set us on a responsible path. Lets see if that's where we're headed.




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Posted by BBONDS25 on 10/16 at 4:26 pm to BobBoucher
quote:

Huge debt is largely from the bailout during his first term.


You think that was a one time thing?
quote:


A calculated reduction over time would minimize impact and set us on a responsible path. Lets see if that's where we're headed.



Will never happen. The Dems promised 10-1 spending cuts if taxes were raised. Taxes were raised...where are the cuts? Promised cuts NEVER happen.




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Posted by BugAC on 10/16 at 4:28 pm to BobBoucher
quote:

The past two years the annual debt has been reduced faster than at any point since the Korean War


No, no it hasn't. The amount of spending has decreased, but spending levels are still higher than at any point during the Bush Administration. Spending levels as of last fiscal year were 1.1 trillion. Latest numbers for this fiscal year are 800 billion. We are still adding on to our debt of $17 trillion.

quote:

For those of you who think we should just slash gov spending overnight and start paying down the debt tomorrow, the sudden withdrawal of billions of gov money from the economy would have seriously negative consequences.


Such as???

quote:

If this annual reduction continues at that pace, we should be actually paying down the debt by the time Obama leaves office.




This post was edited on 10/16 at 4:33 pm

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Posted by BugAC on 10/16 at 4:31 pm to BugAC
We have run the largest deficits in the history of this country every year under obama. Our current spending levels are 1.5% of our GDP.

And you're happy because we aren't trillion dollar stupid, just several hundred billion dollars stupid.

Congrats. It seems Rex has some competition.

LINK



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Posted by BobBoucher on 10/16 at 4:31 pm to BBONDS25
quote:

Will never happen. The Dems promised 10-1 spending cuts if taxes were raised. Taxes were raised...where are the cuts? Promised cuts NEVER happen.


Sequester?

If what you say is true then our annual deficit wouldn't have been cut in half the past year. See my quote from Mitch McConnell. Progress is there - let's see if it continues.

If not, Repubs should be set for 2016. Well, this huge miscalculation aside that is. This shutdown is gonna hurt in 2016.



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Posted by navy on 10/16 at 4:32 pm to BugAC
Clint Eastwood had it right ... empty chair.


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Posted by BugAC on 10/16 at 4:35 pm to BobBoucher
quote:

If what you say is true then our annual deficit wouldn't have been cut in half the past year.


You do realize you said debt in the post above, right?

And by the way, are fiscal deficit was 3/4 of what it was last year. Not exactly "tough cuts" being made.

quote:

See my quote from Mitch McConnell.


You are quoting that fricktard? Now i know you're a troll.

quote:

This shutdown is gonna hurt in 2016.


No, it is not. It's not hurting now. Despite what Harry Reid tells you.



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Posted by PuntBamaPunt on 10/16 at 4:36 pm to BugAC
This why there shouldn't be a limit.


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Posted by BobBoucher on 10/16 at 4:36 pm to BugAC
quote:

Such as???


Economists have said this for a while. You can just yank that much money out of the economy and expect it to be ok.

Example: this partial shutdown has cost the economy 24 billion as of today. Per S&P. like it or not, the gov and its spending has huge tentacles all over this economy.



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Posted by BBONDS25 on 10/16 at 4:37 pm to BobBoucher
quote:

Sequester?



Not even close to 10-1....and even the sequester was opposed by the dems:

quote:

President Obama condemned the effects of sequestration, arguing that these dramatic cuts are "not how a great nation should be treating its military and military families." The president went on the reassure these servicemembers that he would "keep on working to get rid of the sequester." The president even went so far as to say that he is frustrated that "sometimes the very folks who say they stand with our military proudly are the same ones who are standing in the way of fixing the sequester."


LINK


quote:

If what you say is true then our annual deficit wouldn't have been cut in half the past year


Well, it wasn't. sooooo.....


This post was edited on 10/16 at 4:39 pm

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Posted by Wally Sparks on 10/16 at 4:38 pm to BobBoucher
quote:

Per S&P. like it or not, the gov and its spending has huge tentacles all over this economy.



And it's a fricking cancer.



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Posted by BobBoucher on 10/16 at 4:42 pm to BugAC
quote:

No, it is not. It's not hurting now. Despite


Wow denial..... or you live in a cave? Or you watch too much Fox News and its got you completely out of touch with what's going on in the real world.

BTW - I read an interesting article about that.... How Fox's stories are so different that its got their viewers (and consequently many on the right) completely out of touch with middle America. The irony being it could actually hurt the cause more than help.



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Posted by BugAC on 10/16 at 4:42 pm to BobBoucher
quote:

Economists have said this for a while. You can just yank that much money out of the economy and expect it to be ok.


Really? Which ones?

quote:

Per S&P. like it or not, the gov and its spending has huge tentacles all over this economy.


You mean this S&P?



And here it is over the last 5 days. Seems like it went only but up.

Marketwatch



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Posted by Radiojones on 10/16 at 4:44 pm to BobBoucher
quote:

the sudden withdrawal of billions of gov money from the economy would have seriously negative consequences.


Just curious as to where you think this money is coming from that the government is spending.



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Posted by BugAC on 10/16 at 4:44 pm to BobBoucher
quote:

Or you watch too much Fox News and its got you completely out of touch with what's going on in the real world.


That's odd. Because i disagree with you I watch Fox news? Somebody needs to reprogram my tv channels then. I thought i watched BBC America and H2.

quote:

How Fox's stories are so different that its got their viewers (and consequently many on the right) completely out of touch with middle America. The irony being it could actually hurt the cause more than help.


Again, caught up on your delusion that i get my info from Fox. It's called doing research and having a brain.



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