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New battle over debt limit inevitable?

Albert Di Salvo said:
America won't recover. The Republicans aren't bluffing. Either the Democrats give in or over the cliff we go. The credit rating won't be restored. .....snipped to get to the point...
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That is not governance; that is terrorism. If the Republicans are unable to negotiate, they are unfit for office.

Everyone that has looked at this issue seriously has suggested that the only way out of it is a mix of spending cuts (across the board) and tax increases. Anyone that tells you otherwise is either a snake-oil salesman or ignorant. To figure out the correct balance of these we need statesmanship, which means compromise, which requires negotiation.

If there is a credible economist that believes we can cut our way back to a healthy economy, kindly post that cite. I would love to hear this. (of course, there are plenty of singular wack-a-doos out there, so if you want a compelling argument, post many cites.)
 
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Unfortunately, it is easier for political leaders to posture than to take the tough decisions necessary to pursue fiscal consolidation. Yet, if fiscal consolidation is not pursued early on when the luxury of time is present for a transition, more wrenching austerity could later become necessary. Austerity would be far more painful and far more unpopular than medium-term fiscal consolidation pursued over a 5-10-year period.
 
I'm hoping for a government shut down... 3-4 weeks optimally.
 
Risky Thicket said:
Naomi Klein in her seminal work The Shock Doctrine has been bang on since the day the book was published. I am afraid that we are on our way to serfdom. The powers that be will continue to drain the middle class via a series of manipulated and often purposely created crisis. The war on terror, the war on drugs, Wall Street are the current prime examples. It's bigger than both parties.
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Whats the end game...what do they do when they succeed in annihilating the middleclass...whos left to buy their crap and keep the economy going
 
donsutherland1 said:
Unfortunately, it is easier for political leaders to posture than to take the tough decisions necessary to pursue fiscal consolidation. Yet, if fiscal consolidation is not pursued early on when the luxury of time is present for a transition, more wrenching austerity could later become necessary. Austerity would be far more painful and far more unpopular than medium-term fiscal consolidation pursued over a 5-10-year period.
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All they have to do is sit down and COMPROMISE....thats it...come to a give and take agreement....you have two opposing side...one says this or nothing, that has never worked and will never work.....COMPROMISE...the gop has to tell the teaparty to go get lost
 
Blue_State said:
New battle over debt limit inevitable? - CBS News

And I give you what our political debate between the President and Romney should be. We need tax reform and spending reform quickly.
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I don't understand US politics. Rather than discuss decreasing the debt or even fight over how to decrease the debt, they're fighting over whether to raise the debt ceiling. Irresponsible, incompetent idiots
 
lpast said:
All they have to do is sit down and COMPROMISE....thats it...come to a give and take agreement....you have two opposing side...one says this or nothing, that has never worked and will never work.....COMPROMISE...the gop has to tell the teaparty to go get lost
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You mean with Reid and Pelosi the king and queen of compromise?
 
Isn't compromise the bus that got us here?

So we want more of the same...... :think:
 
Ockham said:
Isn't compromise the bus that got us here?

So we want more of the same...... :think:
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Just because both sides compromised badly, does not mean that NO compromise is the answer either. Swinging from one extreme to the other never works.
 
TheNextEra said:
Just because both sides compromised badly, does not mean that NO compromise is the answer either. Swinging from one extreme to the other never works.
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Since there's no compromise improvement plan, what makes anyone think the bad compromises of the past will not continue? I'm not suggesting a swing to extremes... fiscal responsibility is not an extreme position.
 
Proud South Korean said:
I don't understand US politics. Rather than discuss decreasing the debt or even fight over how to decrease the debt, they're fighting over whether to raise the debt ceiling. Irresponsible, incompetent idiots
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It's even better than that. The folks making noise about shutting down the government because of overspending JUST broke the promise they made to cut spending the last time they threatened fiscal suicide, purportedly over too much spending. You can't make this **** up.
 
Ockham said:
shutdowns have happened before.
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And at times have been quite beneficial. Sometimes it takes an eye-opening shock to the system from time to time to bring people back to reality.
 
Ockham said:
Since there's no compromise improvement plan, what makes anyone think the bad compromises of the past will not continue? I'm not suggesting a swing to extremes... fiscal responsibility is not an extreme position.
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Ah yes, the cry of fiscal responsibility. Is that the fiscal responsibility of no cuts to the military while having all cuts on social programs, or is it the fiscal responsibility of all cuts to the miltary and no cuts to social programs.

While saying "fiscal responsibility" is not an extreme position, it actually is an extreme position as the GOP and Dems have done.
 
TheNextEra said:
Ah yes, the cry of fiscal responsibility. Is that the fiscal responsibility of no cuts to the military while having all cuts on social programs, or is it the fiscal responsibility of all cuts to the miltary and no cuts to social programs.
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Perhaps you're unaware of my very consistent position on fiscal responsibility which is, I reiterate, not an extreme position or view, but I advocate a 20% cut across the board, including the military and social programs.

TheNextEra said:
While saying "fiscal responsibility" is not an extreme position, it actually is an extreme position as the GOP and Dems have done.
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The position the GOP and DNC have taken is not a position, but one of ignoring the problem or denying a problem exists.
 
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