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Thread: Breaking: Agreement has been reached on raising the debt limit....

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    Re: Breaking: Agreement has been reached on raising the debt limit....

    Moderator's Warning:
    Breaking: Agreement has been reached on raising the debt limit....You are still not talking about the deal on the debt limit. There are threads already on the topics you are discussing however, so how about leaving this thread for those actually interested in the topic.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post
    Hmmmm



    Not since the Great Depression has the world witnessed such an amount of wealth lost on a relative scale.

    You fail; and fail miserably. Blindly following an ideology has that effect.
    Lived and worked during both, your analysis ignores the 81-82 crisis and ignores the human cost to individuals. you are wrong and the numbers during the 80's show it. Most of that 2007-2008 loss has been recovered without thanks to Obama. Since you weren't around during the 80's doubt that you have credibility on the issue by posting opinion pieces.

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    Re: Obama: We have a deal

    Does conservative have the stones to answer my question?

    Quote Originally Posted by Goldenboy219 View Post
    Another failed attempt to dodge my question: what is the cost increase that Obamacare poses to businesses?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post

    Democrats controlled the Senate in 2001-2002 and had control of the committees including oversight committees. Now what was the Democrat Position on home ownership?
    The problem wasn't know then. possibly because 2002 was when the toxic lending was really taking off

    In fact, in 2002, Bush was still calling for more home ownership for those who could least afford it. If I'm not mistaken, it wasn't until 2003 when some savvy politicians, mostly on the right, began to see the writing on the wall.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Lived and worked during both, your analysis ignores the 81-82 crisis and ignores the human cost to individuals. you are wrong and the numbers during the 80's show it. Most of that 2007-2008 loss has been recovered without thanks to Obama. Since you weren't around during the 80's doubt that you have credibility on the issue by posting opinion pieces.
    Listen, anyone with half a brain realizes that the 81-82 crisis pales in comparison to what occurred between 2007-2009. Again, given the quality of your posts, your opinion is entirely useless. There is no need to continue this discussion as you lack the ability to articulate within the context of any conversation regarding economics, finance, and the political economy.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: We have a deal

    As has been posted and ignored, the bill to extend the debt ceiling does nothing to actually cut costs but does attempt to slow the growth of the govt. It fails miserably because it addresses cuts to the current baseline budget which is a record instead of going back to the 2008 budget and start cutting there. Currently the Govt is a 3.7 trillion dollars and revenue is 2.4 trillion approximately leaving a 1.3 trillion dollar deficit that will be added to the debt. A 3 trillion dollar cut over 10 years is 300 billion a year taking the deficit from 1.3 trillion to 1 Trillion. That is a joke. Throw them all out on their asses.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    As has been posted and ignored, the bill to extend the debt ceiling does nothing to actually cut costs but does attempt to slow the growth of the govt. It fails miserably because it addresses cuts to the current baseline budget which is a record instead of going back to the 2008 budget and start cutting there. Currently the Govt is a 3.7 trillion dollars and revenue is 2.4 trillion approximately leaving a 1.3 trillion dollar deficit that will be added to the debt. A 3 trillion dollar cut over 10 years is 300 billion a year taking the deficit from 1.3 trillion to 1 Trillion. That is a joke. Throw them all out on their asses.
    They were never going to allow a default, and they will never risk their jobs by invoking a recession via cuts in spending during this stage of the recovery.

    So much for the tea party.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post

    No it hasn't, you haven't a clue but continue to divert from not only the thread topic but also the Obama record.
    Yes, it was. Not my fault you either didn't see it or didn't understand it.

    Quote Originally Posted by Conservative View Post

    ACORN wasn't a GOP supporter. Barney Frank and Chris Dodd believed Home ownership was a civil right. Democratic position on home ownership mirrored ACORN and the Frank/Dodd position. Hard to deal with someone like you who ignores the issues but is a partisan supporter of failed liberalism
    The partisan is you. Evidence of that is you not blaming the party in charge, but blaming two members of the minority party. Your own actions prove that. And it is Conservatism which failed. The ideology of small government refused to increase government oversight which might have staved off the Bush Recession.

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    Re: Obama: We have a deal

    Quote Originally Posted by Goldenboy219 View Post
    They were never going to allow a default, and they will never risk their jobs by invoking a recession via cuts in spending during this stage of the recovery.

    So much for the tea party.
    right, those evil Tea Party people

    Our Founding Fathers were considered zealots. They put together our Constitution which has been the framework of America's survival, success and rise to become the premier nation in the world today. The Tea Party consists of the same type of zealots who believe that the Constitution and the principles fought for by our Founding Fathers must be saved from those who seek to destroy it such as the likes of the Nicholas Kristof's of the Socialist left.

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    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    No it hasn't, you haven't a clue but continue to divert from not only the thread topic but also the Obama record. ACORN wasn't a GOP supporter. Barney Frank and Chris Dodd believed Home ownership was a civil right. Democratic position on home ownership mirrored ACORN and the Frank/Dodd position. Hard to deal with someone like you who ignores the issues but is a partisan supporter of failed liberalism
    Here's a blast from the past that should blow up you skirt!

    "Oxley hits back at ideologues
    By Greg Farrell in New York
    Published: September 9 2008 19:25 | Last updated: September 9 2008 19:25

    In the aftermath of the US Treasury’s decision to seize control of Fannie Mae and Freddie Mac, critics have hit at lax oversight of the mortgage companies.

    The dominant theme has been that Congress let the two government-sponsored enterprises morph into a creature that eventually threatened the US financial system. Mike Oxley will have none of it.

    Instead, the Ohio Republican who headed the House financial services committee until his retirement after mid-term elections last year, blames the mess on ideologues within the White House as well as Alan Greenspan, former chairman of the Federal Reserve.

    The critics have forgotten that the House passed a GSE reform bill in 2005 that could well have prevented the current crisis, says Mr Oxley, now vice-chairman of Nasdaq.

    He fumes about the criticism of his House colleagues. “All the handwringing and bedwetting is going on without remembering how the House stepped up on this,” he says. “What did we get from the White House? We got a one-finger salute.”

    The House bill, the 2005 Federal Housing Finance Reform Act, would have created a stronger regulator with new powers to increase capital at Fannie and Freddie, to limit their portfolios and to deal with the possibility of receivership.

    Mr Oxley reached out to Barney Frank, then the ranking Democrat on the committee and now its chairman, to secure support on the other side of the aisle. But after winning bipartisan support in the House, where the bill passed by 331 to 90 votes, the legislation lacked a champion in the Senate and faced hostility from the Bush administration.

    Adamant that the only solution to the problems posed by Fannie and Freddie was their privatisation, the White House attacked the bill. Mr Greenspan also weighed in, saying that the House legislation was worse than no bill at all.

    “We missed a golden opportunity that would have avoided a lot of the problems we’re facing now, if we hadn’t had such a firm ideological position at the White House and the Treasury and the Fed,” Mr Oxley says.

    When Hank Paulson joined the administration as Treasury secretary in 2006 he sent emissaries to Capitol Hill to explore the possibility of reaching a compromise, but to no avail."

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