House GOP to propose 1-yr debt ceiling extension in exchange for some goodies - Page 4 - TigerDroppings.com

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90proofprofessional
LSU Fan
Member since Mar 2004
8489 posts

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


quote:

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

good point about the rhetoric

we ain't paying shite






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90proofprofessional
LSU Fan
Member since Mar 2004
8489 posts

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


quote:

I know, but the market will react before this.

yes, exactly!

so playing chicken up until the last minute (and still caving) actually can possibly inflict some observable damage, so there is still leverage & some hope of getting some of what they want while still caving at the last second



This post was edited on 9/18 at 11:33 am


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Zantrix
Southeastern LA Fan
Parts Unknown
Member since Nov 2009
6581 posts

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


SHUT THE MOTHER frickER DOWN - Stop feeding these god damn demotards with more debt!





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oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
22101 posts

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


quote:


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


not raising the debt ceiling doesn't lower spending. It means we won't payback the money we're already going to borrow that is above the debt ceiling.

The flaw in all this is that we can borrow more money than we're obligated by our laws to pay back.







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TigerTattle
LSU Fan
Out of Town
Member since Sep 2007
5026 posts

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


quote:

quote:@repjustinamash I can't support proposed CR. It's a #StealthDebtLimitHike; it exempts interest from debt limit, effectively raising debt limit permanently.
Whoa. That's not good.






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Lsut81
USA Fan
Member since Jun 2005
62791 posts

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


quote:

I know, but the market will react before this.


Just like its been reacting to the Fed pumping 80B a month into it to prop it up?

So its ok affect the market one way, but not the other?






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constant cough
LSU Fan
Lafayette
Member since Jun 2007
34960 posts

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


quote:

not raising the debt ceiling doesn't lower spending. It means we won't payback the money we're already going to borrow that is above the debt ceiling.



You think every time the debt ceiling gets raised means that debt gets paid off?

Every time they raise the limit they just spend more.






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
33285 posts

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


quote:

Just like its been reacting to the Fed pumping 80B a month into it to prop it up?


It is a controlled prop for the market that will be wound down soon in a controlled manner after having served its purpouse.

quote:

So its ok affect the market one way, but not the other?


Yes, of course. Just like lowering interest rates to support the market.

What you are advocating is uncontrolled chaos and fear in the markets. That is fine if you do not have a stake in the market or fine if you want a buying opportunity.

But for most, it is not a desirable outcome because it will quickly translate into job losses and recession if it is continues for any length of time.






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oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
22101 posts

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


quote:


You think every time the debt ceiling gets raised means that debt gets paid off?


no. I think the amount we will eventually pay raises.

quote:

Every time they raise the limit they just spend more.

from my understanding raising the debt ceiling doesn't change how much they'll spend at all. Just the amount they are willing to pay back.






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constant cough
LSU Fan
Lafayette
Member since Jun 2007
34960 posts

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


quote:

It is a controlled prop for the market that will be wound down soon in a controlled manner after having served its purpouse.



What purpose is that? Enriching Obama fat cat wall street friends at the expense of inflating the dollar for the rest of us?

Gee Thanks, Obama!






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constant cough
LSU Fan
Lafayette
Member since Jun 2007
34960 posts

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


quote:

no. I think the amount we will eventually pay raises.



Right, they are increasing the debt by raising the limit.


quote:

from my understanding raising the debt ceiling doesn't change how much they'll spend at all. Just the amount they are willing to pay back.




Well you're misunderstanding then. Cause the more you tell them they can spend the more they will spend. They aren't willing to pay any back. We haven't paid on the debt since like Andrew Jackson.






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Lsut81
USA Fan
Member since Jun 2005
62791 posts

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


quote:

It is a controlled prop for the market that will be wound down soon in a controlled manner after having served its purpouse.


Served its purpose? What has it done?

I don't know if you've paid attention but our unemployment is still over 7%, workforce participation is at 40yr lows, more people are on govt aid than ever, our GDP is still below expectations.... etc

The ONLY thing it has done is propped up the stock market. And wasn't it you that posted the stat that the top 1% made 95% of the increases over the past 4yrs? Where do you think they made it?

You could possibly say that its helped the housing market in regards to interest rates, but that really does nothing to solidify all of the other underlying problems.



This post was edited on 9/18 at 11:44 am


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oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
22101 posts

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


quote:

Cause the more you tell them they can spend the more they will spend.

so when we hit the debt ceiling we won't spend anymore money then? or borrow over the ceiling?






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constant cough
LSU Fan
Lafayette
Member since Jun 2007
34960 posts

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


quote:

The ONLY thing it has done is propped up the stock market. And wasn't it you that posted the state that the top 1% made 95% of the increases over the past 4yrs? Where do you think they made it?



You gotta love how he propped up Wall Street for four years then ran for re-election against the very Wall Street that he propped up. Of course the low-info voters bought it.






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constant cough
LSU Fan
Lafayette
Member since Jun 2007
34960 posts

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


quote:

so when we hit the debt ceiling we won't spend anymore money then? or borrow over the ceiling?


Right. It will force them to make cuts.

Who knows maybe even force them to actually pass a budget.



This post was edited on 9/18 at 11:47 am


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oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
22101 posts

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


quote:



Right. It will force them to make cuts.


well then i've misunderstood this whole issue. frick em lets keep it low.






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constant cough
LSU Fan
Lafayette
Member since Jun 2007
34960 posts

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


quote:

well then i've misunderstood this whole issue. frick em lets keep it low.



Exactly.






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BestBanker
New Orleans Saints Fan
stuck in a moment
Member since Nov 2011
3026 posts

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


quote:

Dumb. MAKE THE SENATE PASS A BUDGET!






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Lsut81
USA Fan
Member since Jun 2005
62791 posts

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


And ftr, I absolutely hate the GOP as much as the Dems... I said a year ago that I wouldn't vote for another Republican thanks to their handling of the debt ceiling, tax issue, and election as Boner as speaker.

frick them






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
33285 posts

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


quote:

Served its purpose? What has it done?


Created more wealth while inflation has stayed in check.

quote:

I don't know if you've paid attention but our unemployment is still over 7%, workforce participation is at 40yr lows, more people are on govt aid than ever, our GDP is still below expectations.... etc


Economy is doing well. Job market is strong for people with actual skills. Survey of CEOs in south florida last week showed they expect shortages in talent to fill positions especially in finance and accounting. People are getting raises, home prices are rising, etc.

Your doom and gloom outlook for the economy and everything is terrible speil has run its course and looks dumb now.






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