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Harry Reid: "We're going over the cliff"

Boehner has said he will reconvene the House when the Senate passes something. Ball is in their court.
 
Deuce said:
Democrats have already moved more than halfway from the starting points on spending cuts, I'm not sure where you're getting this idea from.
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What is your idea of that "starting point for spending cuts"? Mine is the amount of the sequestration cuts, i.e. current law. Cutting less spending than that is, therefore, really just a spending increase. Do you follow that simple line of thinking?
 
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Bronson said:
I give the dollar about 6 months

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and be assured that the depth of analysis used to 'craft' that bold prediction has been recognized
 
Fisher said:
Boehner has said he will reconvene the House when the Senate passes something. Ball is in their court.
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and here i believed that appropriations was the house's responsibility
appears boner showed me
 
Wiseone said:
Are you ready for the total economic collapse? Been stockpiling and all that?
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Dodge noted

Total US Debt Soars To 101.5% Of GDP | ZeroHedge

DEbt%20to%20GDP_0.jpg


Saudi bank warning: U.S. debt ratio same as Italy’s | World Tribune

Saudi Arabia has warned the financial community of a decline of the U.S. dollar.

Saudi Arabia’s National Commercial Bank said the debt burden of the United States has reached the same ratio of Italy, deemed a default risk. In a report, the Jedda-based bank warned that the downgrade of the U.S. credit rating from triple A status would reduce energy demand and prices, a move expected to harm the Saudi kingdom.
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Jack Fabulous said:
Your conclusions are kind of ironic when you consider that over-spending and over-indulgence by our government is what gave rise to the tea party in the first place.
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yes the overspending, cut revenue ways the GOP bribed their way into power. 'Conservatives' seem unable to recall the massive debt Reagan and BushII ran up.

But now almost every economist agrees revenues must be increased and spending cuts made, and not just 'entitlements'. Last I heard President Obama put 200 billion on the table in cuts that is over and above what has already been done.

So from where I sit it is the Tea Party refusing to go along with ANY attempt at compromise. It is as if to say the 18% who self identify as Tea Party members want to run the government even though their party lost the Presidential election, lost seats in both the House and Senate and they are a minority even within their own party.

Not ironic, more like pathetic
 
justabubba said:
oh my G-d, how awful

it's not like most families with a mortgage have a long term debt between 200-300% of their annual income
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....don't MOST families pay more than the interest on their long-term debt?
 
I'm honestly near the point where I'm ready to go "you know what, **** it. Tax cuts expire. There you go Democrats, you have your increase in revenue that you say is one half of the equation. Now, figure out how to cut spending to remove the rest of the deficit".

Of course both sides won't do that because the Democrats will cling to all domestic spending, the Republicans will cling to all defense spending, and both sides will bat around the notion of entitlement reform but ultimately do jack **** because they're afraid of pissing off constituents. We'll have some grand plan where we'll "Cut" funding which will actually mean "Instead of saying we can spend 8% more this year we'll say we can only spend 3% more! Aren't We Great!!!!" and the same old **** will continue.
 
justabubba said:
oh my G-d, how awful

it's not like most families with a mortgage have a long term debt between 200-300% of their annual income
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Here's another way of looking at it.

Right now the government takes in about 2.3 Trillion in tax revenue and we are about 16 Trillion in debt. That's the equivalent to someone with a $50,000/year salary trying to make the payments on $350,000 worth of stuff. The math doesn't work.
 
Fenton said:
Reid a idiot. He honestly thinks that during a Democrat run Presidency the Republicans are going to be to blame ?

Nope.

Obama and Reid are willing to sacrifice the economy of the Country because their priorities are not a healthy economy but to attempt to destroy the Republicans and to redistribute money.

ITs Obamas cliff, why should the Republicans care.

End result Obamas going to associated with 8 years of suffering, chronic unemployment and dependence.

Hes going to be associated with a Country that saw States and the Federal Treasury go bankrupt during his term.
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Who is blocking the Senate bill that would keep taxes the same for 98% of us? When you figure that out you will know who will be blamed.
 
iguanaman said:
Who is blocking the Senate bill that would keep taxes the same for 98% of us? When you figure that out you will know who will be blamed.
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What does that bill offer in terms of spending cuts?
 
notquiteright said:
yes the overspending, cut revenue ways the GOP bribed their way into power. 'Conservatives' seem unable to recall the massive debt Reagan and BushII ran up.

But now almost every economist agrees revenues must be increased and spending cuts made, and not just 'entitlements'. Last I heard President Obama put 200 billion on the table in cuts that is over and above what has already been done.

So from where I sit it is the Tea Party refusing to go along with ANY attempt at compromise. It is as if to say the 18% who self identify as Tea Party members want to run the government even though their party lost the Presidential election, lost seats in both the House and Senate and they are a minority even within their own party.

Not ironic, more like pathetic
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Which economists? You mean the Krugman's of the world? You're just spouting a bunch of nonsensical gibberish you don't understand. It's embarrassing.

President Obama is spending 5.60$ for every 1$ of actual REAL wealth created in the private economy. He has to borrow or print the rest. 200B (which is actually just a percentage cut off of spending increases. The spending increases are still happening) when he's running trillion+ yearly deficits? You're joking right? I mean how can anyone possibly have a conversation with you without laughing in your face? You are EXTREME. Obama's "budget" is 3.7 trillion for 1 year. That isn't sustainable. I don't care how much you whine and stomp your feet about evil rich people and the Tea Party, the US Government cannot sustain spending at that level. Not even for another 4 years. The dollar WILL collapse under the weight and guess what happens after that? EBT cards suddenly stop working. Your debit card becomes a useless piece of plastic. But we get it. Trust in Obama right? He cares. He really does understand Economics or something and would never LIE right? Wrong.

Have you ever met Barack Obama? Why should anyone believe your assurances, or that of a corrupt press for that matter, that he has the best interest of the US at heart? What has ever done as President, or in his life for that matter, that would assuage fears that he wants the US Economy to grow and prosper? Taxing the evil rich is not going to grow the Economy. "Every Economist" knows that. Even Obama has stated this his first term, so what are we really all talking about here? We have extreme hard left fanatical posters who just obfuscate the issue with posts like "The Tea Party sucks" or they make jokes like we're all building bunkers or something like that's an argument. Meanwhile the Economy is grinding to a halt.

None of you parrots chirping the Obama talking points have any answers. You just keep trying to create black and white strawman where we either have to choose evil Republicans or corrupt Democrats. As far as I'm concerned both parties are complicit in this theft. Your children are going to have pay for all this one way the other. It's a gravy train being paid for on all the credit from our past that we built up. The bubble to end all bubbles. We're the broke "rich guy" who is keeping up pretenses by driving our credit into the ground. It WILL end. Not even the power of the US Government, and it's vast, can keep the cosmic forces of economics at bay. It will come a calling and I already know what your response will be. "It's Bush's fault.", "It's the rich people's fault. Get em!" or some other mob emotionally created scapegoat that the weak minded always fall prey to.

These arguments from the left are laughable. This is the same party who torched Bush for having a 400B deficit. Now they champion trillion+ deficits per year like zombies, firmly brainwashed by Collectivist Ideology. 30 of the 50 states are now run by Republican Governors. We've gained Governorships in every election since 2008. Republicans still control the House. The country is pretty much divided right down the middle between Collectivist Authoritarians and sane people.

We are going to oppose your radical and misguided agenda every step of the way. Better get used to it.
 
justabubba said:
oh my G-d, how awful

it's not like most families with a mortgage have a long term debt between 200-300% of their annual income
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This is your argument? Are you kidding me right now? lol

We are running trillion+ deficits every YEAR. Does a middle class family earning 50K a year buy a million dollar home PER YEAR?

Add inflation, rising cost of commodities and gas. Incomes that are falling, not increasing, ect. ect. ect.

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Democrats can’t put together a plan on their own
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How telling is that? Harry Reid even says they don't know what to do. And you jackasses voted for these people. Screw the cliff. You voted for Democrats, now you get their mess.

By the way, I also thought it was hilarious that Reid chastised the republicans for not being in Washington while Obama was boarding Air Force One in Hawaii.
 
Bronson said:
Which economists? You mean the Krugman's of the world? You're just spouting a bunch of nonsensical gibberish you don't understand. It's embarrassing.

President Obama is spending 5.60$ for every 1$ of actual REAL wealth created in the private economy. He has to borrow or print the rest. 200B (which is actually just a percentage cut off of spending increases. The spending increases are still happening) when he's running trillion+ yearly deficits? You're joking right? I mean how can anyone possibly have a conversation with you without laughing in your face? You are EXTREME. Obama's "budget" is 3.7 trillion for 1 year. That isn't sustainable. I don't care how much you whine and stomp your feet about evil rich people and the Tea Party, the US Government cannot sustain spending at that level. Not even for another 4 years. The dollar WILL collapse under the weight and guess what happens after that? EBT cards suddenly stop working. Your debit card becomes a useless piece of plastic. But we get it. Trust in Obama right? He cares. He really does understand Economics or something and would never LIE right? Wrong.

Have you ever met Barack Obama? Why should anyone believe your assurances, or that of a corrupt press for that matter, that he has the best interest of the US at heart? What has ever done as President, or in his life for that matter, that would assuage fears that he wants the US Economy to grow and prosper? Taxing the evil rich is not going to grow the Economy. "Every Economist" knows that. Even Obama has stated this his first term, so what are we really all talking about here? We have extreme hard left fanatical posters who just obfuscate the issue with posts like "The Tea Party sucks" or they make jokes like we're all building bunkers or something like that's an argument. Meanwhile the Economy is grinding to a halt.

None of you parrots chirping the Obama talking points have any answers. You just keep trying to create black and white strawman where we either have to choose evil Republicans or corrupt Democrats. As far as I'm concerned both parties are complicit in this theft. Your children are going to have pay for all this one way the other. It's a gravy train being paid for on all the credit from our past that we built up. The bubble to end all bubbles. We're the broke "rich guy" who is keeping up pretenses by driving our credit into the ground. It WILL end. Not even the power of the US Government, and it's vast, can keep the cosmic forces of economics at bay. It will come a calling and I already know what your response will be. "It's Bush's fault.", "It's the rich people's fault. Get em!" or some other mob emotionally created scapegoat that the weak minded always fall prey to.

These arguments from the left are laughable. This is the same party who torched Bush for having a 400B deficit. Now they champion trillion+ deficits per year like zombies, firmly brainwashed by Collectivist Ideology. 30 of the 50 states are now run by Republican Governors. We've gained Governorships in every election since 2008. Republicans still control the House. The country is pretty much divided right down the middle between Collectivist Authoritarians and sane people.

We are going to oppose your radical and misguided agenda every step of the way. Better get used to it.
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It was the Republicans and GW Bush that added a $trillion to the budget, taking it from 2 to 3 trilion in 8 years. Obama has had the lowest growth in spending in a generation.

Federal_Spending_Bush_Vs_Obama.png
 
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iguanaman said:
Who is blocking the Senate bill that would keep taxes the same for 98% of us? When you figure that out you will know who will be blamed.
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And one more thing...

While you sit there and wrack your brain to try to devise a way to assign blame to your political opponents, our country continues it's steady march to the financial abyss. You damn well know that increasing taxes on the top 2% does virtually nothing to close a trillion dollar plus spending gap yet that is what you choose to focus on. If we had people that would focus on the actual problem instead of grandstanding over trivialities like you are choosing to do maybe we could actually solve this thing. But as long as there's the opportunity to "blame" someone that will never happen, will it.
 
iguanaman said:
Federal_Spending_Bush_Vs_Obama.png
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Great graph.

Iraq is at a near "end" and we should be drawing to a close shortly in Afghanistan. We also are no longer needing to operate under a budget including an "emergency" boost of Stimulus. We should be looking to cut spending back down to 2003 or 2004 levels, adjusted for inflation only.

Unfortunately, Obama's stated he's basically wanted to keep spending at these same relative levels rather than at 2003 or so levels and tries to justify the insane amount of spending by pulling on emotional heart strings through talks of "reinvesting" it in America....IE, taking money from Americans AND borrowing a **** ton of money to spend on Americans in a way that the government sees fit.
 
Rainman05 said:
Actually. Everybody will be to blame. But only the people will suffer.

Harry Reid just wants to avoid taking on more responsibility. He successfully managed, for 3 years, to not pass ANY budget and effectively, not doing ANYTHING while still receiving a fat paycheck and lobby interest group money, and now he wants people to believe the it's the other guys' fault alone. And guess what, some may even believe him.
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I'd say at least 51% of America believes him.
 
Zyphlin said:
Great graph.

Iraq is at a near "end" and we should be drawing to a close shortly in Afghanistan. We also are no longer needing to operate under a budget including an "emergency" boost of Stimulus. We should be looking to cut spending back down to 2003 or 2004 levels, adjusted for inflation only.

Unfortunately, Obama's stated he's basically wanted to keep spending at these same relative levels rather than at 2003 or so levels and tries to justify the insane amount of spending by pulling on emotional heart strings through talks of "reinvesting" it in America....IE, taking money from Americans AND borrowing a **** ton of money to spend on Americans in a way that the government sees fit.
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I think a lot of Obama supporters like to conveniently leave out that the military spending from the two wars is nearly gone and yet the total spending still goes up.
 
iliveonramen said:
I'm confused where the President has the authority to spend whatever he wants.
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Well, they've done it by skirting the Constitution. They've been using spending resolutions to bypass the rules for budgeting. In essence, they haven't passed a budget in 4 years (Obama has proposed budgets, but they got a total of 1 vote in four years) and have just passed small spending resolutions that don't have the same debate and voting requirements.
 
Zyphlin said:
Great graph.

Iraq is at a near "end" and we should be drawing to a close shortly in Afghanistan. We also are no longer needing to operate under a budget including an "emergency" boost of Stimulus. We should be looking to cut spending back down to 2003 or 2004 levels, adjusted for inflation only.

Unfortunately, Obama's stated he's basically wanted to keep spending at these same relative levels rather than at 2003 or so levels and tries to justify the insane amount of spending by pulling on emotional heart strings through talks of "reinvesting" it in America....IE, taking money from Americans AND borrowing a **** ton of money to spend on Americans in a way that the government sees fit.
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Cutting Govt. spending while unemployment is so high is a sure way to put us back into recession. Just ask the Europeans.
The revenue increases from full employment and ending the Bush tax cuts along with a growing economy will improve the defcit all by themselves. We can look at further cuts when the economy is not so fragile.
0817-biz-EUROweb.jpg
 
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ksu_aviator said:
I think a lot of Obama supporters like to conveniently leave out that the military spending from the two wars is nearly gone and yet the total spending still goes up.
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What you ignore is our high unemployment and the fact that our population grows every year and our money is worth less. Spending will always increase because of those factors. We have spent 10 Trillion on defense since 2000 and the budget keeps going up every year.
 
Wiseone said:
Ya why should they care about suffering, chronic unemployment, and
dependence as long as its someone else's fault. Now that's a party I can vote for!

Everyone needs to sit down, ****ing get over themselves, and make a deal happen.
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You dont make a " deal " thats going to make things worse.

Removing the debt limt and no reforms on entitlments with tax increases ?

The Republicans should walk away.
 
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