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Thread: Obama chides GOP on debt limit: 'We are not a deadbeat nation'

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    re: Obama chides GOP on debt limit: 'We are not a deadbeat nation'

    Pres Obama has repeatedly shown that he will not be fiscally responsible. Why do we think he will now? Everyone acts as though this is a shock. As I've said many times, I believe the GOP should simply vote present for the rest of his term. It's the only winning strategy it has. He won't budge therefore the lapdog aka Harry Reid won't budge and they will simply continue to collectively point the finger at the GOP. The GOP will, in turn, continue to be characterized as "the party of no" and be demonized by a liberal friendly media. The best thing to do is what Rand Paul suggested, vote present. Apparently it can get you elected President after all
    “Mr. Speaker, I once again find myself compelled to vote against the annual budget resolution for a very simple reason: it makes government bigger.” ― Ron Paul
    Timid men prefer the calm of despotism to the tempestuous sea of Liberty. – Thomas Jefferson

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    re: Obama chides GOP on debt limit: 'We are not a deadbeat nation'

    Oh, someone here has finally realised that there is real risk of war.

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    re: Obama chides GOP on debt limit: 'We are not a deadbeat nation'

    Obama and Moderate Republicans See Conservatives as Common Enemy - The Rush Limbaugh Show

    ".........He's (Obama) not proposing solutions to anything. He's not interested in solutions. As far as Obama's concerned, there isn't a problem, other than the existence of opposition to him. The biggest problem to Obama is the existence of opposition. And I'm telling you: I firmly believe everything going on in Washington today -- everything inside the Beltway, in the media, in the think tanks, in the halls of Congress, everything -- is oriented toward eliminating a viable opposition. Be it on the radio, be it on television, be it in Congress, wherever."

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    re: Obama chides GOP on debt limit: 'We are not a deadbeat nation'

    Quote Originally Posted by Zyphlin View Post
    So during this time it's NOT a sign that the U.S. Government can't pay it's own bills? This time it's NOT a sign we now depend on ongoing financial assistance from foreign countries? Increasing our debt won't weaken us domestically and internationally this time? Leadership no longer means "the buck stops here"? This time it wouldn't be shifting the burden of the choice onto the backs of our children and grand children?
    That would be correct.

    What of those things would not apply this time if you felt they applied in 2006...and specifically, why?
    All of them!

    1.) Running a fiscal deficit of $248 billion in 2006 when unemployment averaged just north of 4.8% is nothing short fiscally irresponsible. Do i have to explain why? If so, then i will be glad to.

    2.) Running a fiscal deficit of $248 billion when the yield of a 1 month T-Bill rate averaged north of 4.9% for fiscal year 2006 creates unnecessary interest expenses to tax payers, during a time when demand for Treasury market debt was undeniably high. Do i have to explain why? If so, then i will be glad to.

    3.) Running a fiscal deficit of $248 billion when gross private domestic investment was at an ALL TIME high means that it was more expensive for the private sector to issue debt for the purpose of capital expansion. Do i have to explain why? If so, then i will be glad to.
    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 chides GOP on debt limit: 'We are not a deadbeat nation'

    Quote Originally Posted by Bronson View Post
    Your lame talking point has already been debunked

    Go search Daily Kos for another
    Your analysis lacks the substance to debunk anything i have stated. I have never been to the Daily Kos website, so please try and stay relevant and not make simplistic assumptions that do not pertain to this discussion.
    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 chides GOP on debt limit: 'We are not a deadbeat nation'

    Quote Originally Posted by Bronson View Post
    So Obama didn't spend enough with his failed Stimulus Package?
    That would be correct.

    Let's have the discussion. Where did Obama get the money for his failed stimulus?
    Capital markets of course!

    Who claimed that? Strawman much? Where did I claim only people who are on welfare shop at retail stores? Why don't you try addressing the actual facts instead of tap dancing around the issue like a sideshow clown. People who are on welfare primarily spend money on commodities. Gas/Food/ect. There is no productivity/wealth creation associated with their income. NO NET GAIN. It's a WASH. They are not contributing any productivity to the Economy with labor. Otherwise the Government would just pay everyone infinite unemployment not to work and shop at Walmart. You're an economic illiterate.
    Now you have to result to personal attacks, hmmm..... Tell that to the retailers, distributors, and producers of these commodities.

    Again, this is a laughable and you completely missed the point and dodged the issue. You are admitting Government received it's money from Private Wealth creation and doesn't generate wealth on it's own. It's receiving more than 2 trillion annually actually. Obama is illegally spending at TARP level of expenditures going on 4 years. The Government already is taking in enough to pay the debt service. So there goes that strawman. Obama doesn't need to raise the debt ceiling to service the debt. The only reason why Obama wants to raise the debt is so he can expand the Welfare State.
    Nonsense. Cutting spending will create a hole in the revenues generated by the private sector via direct government expenditures. This is a fact, no amount of baseless rhetoric will negate it!

    Secondly you are completely ignoring the negative externalities and opportunity costs associated with removing that private capital from the hands of those who would invest it far more wisely than a Federal Government that is wasting 125B a year on "improper payments". Your entire fallacy rests on the notion that somehow the Government is a better investment banker than the Private Sector. That's radical idealism. Not Economics.
    Crowding out of the private sector cannot occur when we have a glut in idle resources; namely labor (see unemployment) and capital (see real interest rates on private sector debt). Your appearant lack of knowledge in regards to the macro economy continues to stick out like a sore thumb.

    You are stuck within a cult of Hope and Change.
    Nope! I simply have a strong understanding of 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 chides GOP on debt limit: 'We are not a deadbeat nation'

    Quote Originally Posted by mac View Post
    A different time? It was 6 years ago. What you really meant is "that was a different President."
    No. It was a different economic climate. Do you need me to explain why?
    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 chides GOP on debt limit: 'We are not a deadbeat nation'

    Quote Originally Posted by Dickieboy View Post

    Most of the substantial cuts are to social programs, without any cuts for corporate welfare, or cuts to the military industrial complex. The GOP just voted unanimously to spend $630 on the military in 2013, If we multiply that over the next 10 years that is $6.3 trillion dollars in spending.

    And the list you provided never evened garnered enough support by Republicans to put it up for a vote.
    From your link:

    "So, yes, the list of “Republican budget cuts” is real. But historically it has been difficult to make such deep cuts in the budget, and some of the proposed cuts go further than even the Republican leaders so far have been willing to support."
    Last edited by Catawba; 01-15-13 at 12:09 AM.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  9. #129
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    Re: Obama chides GOP on debt limit: 'We are not a deadbeat nation'

    Quote Originally Posted by Catawba View Post
    Most of the substantial cuts are to social programs, without any cuts for corporate welfare, or cuts to the military industrial complex. The GOP just voted unanimously to spend $630 on the military in 2013, If we multiply that over the next 10 years that is $6.3 trillion dollars in spending.

    And the list you provided never evened garnered enough support by Republicans to put it up for a vote.
    From your link:

    "So, yes, the list of “Republican budget cuts” is real. But historically it has been difficult to make such deep cuts in the budget, and some of the proposed cuts go further than even the Republican leaders so far have been willing to support."
    Thanks for being so predictable...what part of what I posted did not comply with your request? You asked for specific spending cuts proposed by Republicans...which I provided. Now you don't like them, predictably.
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    Re: Obama chides GOP on debt limit: 'We are not a deadbeat nation'

    Quote Originally Posted by Dickieboy View Post
    Thanks for being so predictable...what part of what I posted did not comply with your request? You asked for specific spending cuts proposed by Republicans...which I provided. Now you don't like them, predictably.
    Thanks for the list Dickieboy! Too bad if never even had enough support among the Republicans to be put up for a vote!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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