House GOP to propose 1-yr debt ceiling extension in exchange for some goodies - Page 3 - TigerDroppings.com

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davesdawgs
Georgia Fan
Georgia
Member since Oct 2008
16771 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


This is as dumb as it gets. Delaying Obamacare is exactly what Obama wants. He knows that once all the provisions are in effect there is going to be a shite storm of higher taxes, higher premiums and more layoffs. The deal should be for Obamacare to go into effect immediately with no exceptions for anyone then when the shite hits the fan we will see how well the Dems hold up in the midterm elections. Honestly when you see how stupid the Pub leadership is, there's no wonder that an unqualified dictator like Obama was reelected. Sheesh





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S.E.C. Crazy
Alabama Fan
Alabama
Member since Feb 2013
5637 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


If we can get this crap delayed , we might can get it defeated one day who knows ?





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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
34199 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


I just chuckle at this crap now.

Dems have said they are not going to negotiate or give concessions to allow the country to continue to pays its bills.

GOP says we will not let the U.S. pay its bill and is willing to destroy the U.S. credit rating, send interest rates through the roof, crush the equity markets, ruinate the economy and rock the global economy to its core.

Ok. Makes sense.

The country will side with Obama and the Dems here FTR. The GOP position is ridiculous. Imagine flipping the side. Dems say, we will not allow the country to pay its bills unless taxes are raised 5% on everyone or mortgage interest deductions are done away with so we won't have to keep raising the debt ceiling. The public would side with the GOP instead.

Just really stupid of the GOP. Play chicken, look like idiots in the process, then at the end of the day cave (because they have to) and look like bigger idiots.

It is a wash/rinse/repeat for the GOP it seems and they appear to stupid to learn from their mistakes. They have zero leverage here or support from the public for the position overall.



This post was edited on 9/18 at 11:05 am


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Lsut81
USA Fan
Member since Jun 2005
64192 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

Like a petulant child?


Yes

Why should the average person have to live within their means but not the government? How much debt is enough debt? 17T isn't enough? When does it fricking stop?

Rubber needs to meet the road






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90proofprofessional
LSU Fan
Member since Mar 2004
8866 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

Ok. Makes sense.

sure it does

posturing this way is currently their best bargaining chip






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
34199 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

Yes

Why should the average person have to live within their means but not the government? How much debt is enough debt? 17T isn't enough? When does it fricking stop?

Rubber needs to meet the road


And this isn't the place for it. Paying our bills is not negotiable. That is the Dems position and most of the public agrees.

This is a circus side show that everone already knows the outcome of.






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
34199 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

posturing this way is currently their best bargaining chip


And everyone knows it is simple posturing with nothing to back it up.

It is a waste of time and just makes the GOP look bad.

I really don't care that much. I alread know the result and so do you.

1. GOP threatens Gov shutdown

2. Obama goes to the public and says look at these irresponsible unreasonable dimwits.

3. Most of public sides with Obama that we have to pay our bills and a shutdown is really bad, especially if the GOP postures long enough for the stock market to start dropping.

4. GOP caves agains, life goes on.

We all know what is coming if the GOP goes this route. Been there, done that.






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a want
LSU Fan
North America
Member since Oct 2010
9540 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

And this isn't the place for it. Paying our bills is not negotiable. That is the Dems position and most of the public agrees. This is a circus side show that everone already knows the outcome of.


This. Bitching about the debt ceiling and cries for a Balanced Budget Amendment are only distractions so those calling for spending cuts don't actually have to do any cutting (and yes both parties are to blame). Hell I could win election if I promised to cut taxes, promised to cut spending (but never actually did so no gov. services were reduced and no jobs lost) and gave the excuse that I would balance the budget....if only there was an amendment requiring me to.

Bull shite. Just balance it. Or what would be more prudent: set in motion a long term plan to eliminate the deficit and eventually the debt.






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90proofprofessional
LSU Fan
Member since Mar 2004
8866 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

We all know what is coming if the GOP goes this route. Been there, done that.

actually i'm seeing some prominent lefty wonks expressing pessimism here. i've seen it from klein, chait, and cohn today just off the top of my head

eta: pessimism about avoiding the shutdown

also noted that according to klein, the white house was pessimistic about it



This post was edited on 9/18 at 11:16 am


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HortensePowdermaker
Grambling Fan
Member since Feb 2013
696 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

I just chuckle at this crap now.

Dems have said they are not going to negotiate or give concessions to allow the country to continue to pays its bills.

GOP says we will not let the U.S. pay its bill and is willing to destroy the U.S. credit rating, send interest rates through the roof, crush the equity markets, ruinate the economy and rock the global economy to its core.

Ok. Makes sense.

The country will side with Obama and the Dems here FTR. The GOP position is ridiculous. Imagine flipping the side. Dems say, we will not allow the country to pay its bills unless taxes are raised 5% on everyone or mortgage interest deductions are done away with so we won't have to keep raising the debt ceiling. The public would side with the GOP instead.

Just really stupid of the GOP. Play chicken, look like idiots in the process, then at the end of the day cave (because they have to) and look like bigger idiots.

It is a wash/rinse/repeat for the GOP it seems and they appear to stupid to learn from their mistakes. They have zero leverage here or support from the public for the position overall.


Excellent summary. Also, see my Fannie/Freddie comments on top of it.






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Lsut81
USA Fan
Member since Jun 2005
64192 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

And this isn't the place for it.


So when the frick is? You seem to think you have all of the answers...

This is the 3rd time in the past 2yrs that the "Debt Ceiling/Cliff" has come up and it just gets kicked down the road again and again.

So when does the debt get addressed? The only time it is brought up on a national level is when the ceiling comes up and the Dems, as you have admitted raise a stink about not paying our debt.

The definition of insanity is............






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
34199 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

actually i'm seeing some prominent lefty wonks expressing pessimism here. i've seen it from klein, chait, and cohn today just off the top of my head

eta: pessimism about avoiding the shutdown

also noted that according to klein, the white house was pessimistic about it


Well, that is too bad. I would prefer the equity markets not get roiled and the economy rocked due to a temporary shut down until the GOP caves.

There is no way around it. They will cave. And if they take it far enough to an actual temporary shutdown that actually hurts the markets and economy, the damage the GOP will inflict on itself will be bad.

The public will not side with the GOP on this issue. It just want happen and the more pain they inflict on the economy the worse it will be for them.

They had infinitely more leverage the last time they tried this when the deficit was over $1T and it turned out pretty badly for them.






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HortensePowdermaker
Grambling Fan
Member since Feb 2013
696 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

So when the frick is? You seem to think you have all of the answers...

This is the 3rd time in the past 2yrs that the "Debt Ceiling/Cliff" has come up and it just gets kicked down the road again and again.

So when does the debt get addressed? The only time it is brought up on a national level is when the ceiling comes up and the Dems, as you have admitted raise a stink about not paying our debt.

The definition of insanity is............


The debt ceiling is paying for things we've already committed to. It is the inappropriate place for the discussion.

quote:

The debt ceiling, recall, is a curious American institution that we share exclusively with Denmark. Back in the 19th century, Congress specifically authorized each issuance of federal bonds. When World War I came along, this became tedious, so Congress simply appropriated the funds it thought would be required for the war and authorized the federal government to borrow a bunch more money as needed to spend what Congress had directed it to spend, up to a certain cap - the debt ceiling.

Over the years, this evolved into a fun exercise in congressional hypocrisy and partisan grandstanding. Congress would pass laws setting the tax code, laws shaping entitlement spending, and annual appropriations for the military and civilian functions of government. When a gap arose, as it often did, the Treasury Department would, obviously, borrow the money. But every so often the combination of economic growth and inflation would guarantee that the government would run up against the authorized borrowing cap. At this point opposition party members of Congress would take potshots at the president. Back in 2006 when George W. Bush had to ask for an increase in the debt ceiling, then-Sen. Barack Obama called it "a sign of leadership failure" and proclaimed "Americans deserve better." West Wing did a jokey segment about it.

But after the sweeping GOP wins in the 2010 midterms, this took a darker turn.

Republicans began making noises about using the debt ceiling as leverage to force spending cuts. The Obama administration miscalculated that they could turn lemons into lemonade by forging a broad deficit-reduction deal involving spending cuts and more revenue, metaphorically "breaking" the GOP dogma on taxes. What we got instead was total Republican intransigence, a panic that crushed consumer confidence, and ultimately a kludgy deal that helped set the stage for today's fiscal cliff.

The White House, naturally, doesn't want to do it again. Once the debt ceiling has been weaponized as a tool for extracting real policy concessions, it creates a dangerous situation. Sooner or later one party or the other will set off the bomb, and actually send the United States into default.


LINK







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oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
22136 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


While I want spending cut. I don't think deciding to not pay our debt while we can is a good decision.





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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
34199 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

quote:


And this isn't the place for it.




So when the frick is?


The time is now, yesterday, immmediately, whatever.

I am just pointing out this is a losing battle and the wrong fight to pick.

It is a sorry reflection on our entire government that they are incapable of actually governing so this is what they do instead.






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90proofprofessional
LSU Fan
Member since Mar 2004
8866 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

I would prefer the equity markets not get roiled and the economy rocked due to a temporary shut down until the GOP caves.

There is no way around it. They will cave. And if they take it far enough to an actual temporary shutdown that actually hurts the markets

the truth is that there are payments available that the govt can suspend that will not roil the markets or hurt our credit. you can bet those will go first
quote:

They had infinitely more leverage the last time they tried this when the deficit was over $1T and it turned out pretty badly for them.

the public has now experienced the sequester being way overhyped. i think the gop is working with a little more here than you do is all i'm saying






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90proofprofessional
LSU Fan
Member since Mar 2004
8866 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

It is a sorry reflection on our entire government that they are incapable of actually governing so this is what they do instead.

it does suck that these artificially-created ceiling crises are the only time that structural spending issues can be credibly forced



This post was edited on 9/18 at 11:27 am


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Lsut81
USA Fan
Member since Jun 2005
64192 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

While I want spending cut. I don't think deciding to not pay our debt while we can is a good decision.



Please tell me how shutting down the govt = not paying our debt?

How does furloughing people, cutting expenses, etc... impede on writing a check to our creditors

Seems like those cuts due to a shutdown would actually go towards paying for that check. But maybe I am crazy









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constant cough
LSU Fan
Lafayette
Member since Jun 2007
36249 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

While I want spending cut. I don't think deciding to not pay our debt while we can is a good decision.



Wait, when did we decide to pay our debt? Funny how the left only seems interested in paying the debt when spending cuts are being proposed.






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
34199 posts

re: House GOP to propose 1-yr debt ceiling extension in exchange for some goodies


quote:

the truth is that there are payments available that the govt can suspend that will not roil the markets or hurt our credit. you can bet those will go first


I know, but the market will react before this. People will shift money to bonds to be safe if it appears a shutdown is imminent and hope for a drop in the markets for a buying opportunity.

quote:

i think the gop is working with a little more here than you do is all i'm saying


That's cool, I understand. I just discount their position and almost dismiss it out of hand because at the end of the day they destroy their party for a long time to come if they play it all the way to default.

It is a game of chicken and everyone knows who will get the blame if they play it out to an actual wreck.






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