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Thread: U.S. GDP Grows Just 1.3%

  1. #51
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Taylor View Post
    Well that came out of left field - why all the guilt?

    It's like I just walked out of the pantry with an open jar in hand and said "Shoot, we're about out of peanut butter"... and you come tearing into the kitchen, "Yeah!? So what if the jar's almost empty! What, do you expect me to eat nothing? Are you really going to sit here and say you've never had a PBJ sandwich? Are you!!?"
    Fair enough.

    I'm afraid it's become an automatic response conditioned by an endless stream of complaints from conservatives about Obama, followed by absolutely no suggestion as to what they would have done differently that wouldn't have actually made the situation much worse.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Do you get your annual credit report? How does increasing your credit card debt affect your credit score especiallyw when you have rising debt?
    Sure let's run with your example. What's worse for your credit, raising your credit limit or defaulting?

    The money has ALREADY been spent. First you pay on the debt you owe then you can look at your spending habits. Dumb ass teabaggers want to look at spending habits whe defaulting on the debt they already owe.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Taylor View Post
    Yeah, well according to projections issued in Jan. 2008, we're due for surpluses as far as the eye can see, and were expected to average just 4.9% unemployment for 2010-2013.

    We kind of suck with budget projections.

    Sheesh, it's only been a couple years since those 2009 projections, and they're already proving to be hundreds of billions off.

    The only thing we can really be certain about is that when bad things do happen, it's because of Bush, Beck, and those tea party rabble-rousers stirring mistrust.
    Shhh, don't tell that to Pb as he thinks his chart is a winner

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Yes, Congress makes the laws and prior to January 2011 the Democrats took total control of that Congress in January 2007. Obama had a blank check and generated those numbers. The actual problem is we have a Community Organizer as President and not a leader. Confidence comes from good leadership and we have none right now
    A simple question are you against raising the 'debt ceiling' only at this instance in time, or are you against the practice per se?

    Paul
    RIP THE EUROPEAN FORUM 2016

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by TheNextEra View Post
    Sure let's run with your example. What's worse for your credit, raising your credit limit or defaulting?

    The money has ALREADY been spent. First you pay on the debt you owe then you can look at your spending habits. Dumb ass teabaggers want to look at spending habits whe defaulting on the debt they already owe.
    Explain why we are defaulting on anything? the money hasn't been spent, the money continues to come in to fund our true obligations. Do you think needless departments are obligations?

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by gunner View Post
    A simple question are you against raising the 'debt ceiling' only at this instance in time, or are you against the practice per se?

    Paul
    I am against raising the debt ceiling until massive spending cuts are implemented. We don't need a 3.7 trillion dollar Federal Govt and that is the point. There is more than enough revenue to pay for our true obligations.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by TheNextEra View Post
    Sure let's run with your example. What's worse for your credit, raising your credit limit or defaulting?

    The money has ALREADY been spent. First you pay on the debt you owe then you can look at your spending habits. Dumb ass teabaggers want to look at spending habits whe defaulting on the debt they already owe.
    Debt service last year was 195 billion dollars or less than 20 billion a month. We have approximately 200 billion coming in in August so why are we defaulting on debt service?

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by pbrauer View Post
    Look at 2009 which is Bush's budget, a $1.2 trillion deficit.
    Bush did put together a budget for 2009, but let's not pretend that Obama faithfully followed the plan, adding only $187 billion.

    For example, I don't remember him doing any of this:
    Spending Discipline
    The 2009 Budget proposes that total discretionary spending rise no faster than the size of the
    economy, to prevent day-to-day Government spending from consuming an even larger share of the
    Nationís pocketbook. It also proposes to hold the rate of growth for non-security discretionary
    spending to less than one percent, well below the rate of inflation. This spending discipline requires
    tough choices among many competing priorities.

    In constructing the Budget, each program was closely reviewed to determine if it is among the
    Nationís top priorities and if the program is effective and producing the intended results. Failure to
    meet these criteria resulted in the proposed termination or reduction of 151 programs for a savings
    of over $18 billion, a step that will help channel resources to more effective programs. Funding for
    program integrity efforts have also been increased to reduce waste, fraud, and abuseóincluding the
    reduction of improper payments to ineligible recipients.
    Or this...
    In total, the Budget proposes to terminate or reduce 151 discretionary programs, reducing
    2009 spending by $18 billion. These include 103 terminations saving $7 billion and 48
    reductions saving $11 billion. The Budget also proposes mandatory spending reforms that
    will achieve an additional $16 billion in net savings in 2009, and result in $208 billion in
    savings through 2013. Mandatory savings proposals highlighted in this volume total $19
    billion in 2009 and $233 billion through 2013, and exclude reforms that are cost-neutral
    or result in cost increases.
    We could go on, but I think the point has been made.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Explain why we are defaulting on anything? the money hasn't been spent, the money continues to come in to fund our true obligations. Do you think needless departments are obligations?
    Come on, Conservative. You know that's not how it works. The revenue comes in, Treasury pays it out. This happens each and every month of the year; it never stops. If it did, Treasury would be able to stockpile cash and pay bills at its discretion. By law, it simply cannot do that. It can't pick and choose which bills it will pay and which bills it can't or won't pay, not unless some tragedy happens such as what may happen if the debt limit isn't raised or a budget isn't passed by Congress. We got the budgets for FY10 and 11 out the way; now, we just have to resolve this debt limit issue.
    Last edited by Objective Voice; 07-29-11 at 12:57 PM.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    Debt service last year was 195 billion dollars or less than 20 billion a month. We have approximately 200 billion coming in in August so why are we defaulting on debt service?
    We default by failing to pay any of our obligations -- it isn't just down to debt sevice.

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