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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'

    Quote Originally Posted by Kushinator View Post
    I am not here to answer to you for your disdain of the Obama administration. We get it, you hate the current administration; but nobody cares.
    I don't know about "hate" but there is a great deal of international concern about the competence and honesty about this President. It is simply not true that "nobody cares".

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

    Quote Originally Posted by jonny5 View Post
    Fitches opinion is just as wrong as anyone else. Whether the debt ceiling is raised or not, the US should lose its credit rating. This whole mess proves that the US is not a good fiscal risk. When I borrow more money my credit rating goes down. So should the US.
    I agreed when S&P lowered the U.S. credit rating. The nation's political leaders have demonstrated a repeated inability to tackle the nation's biggest challenges in an effective fashion. That they can blame-shift in world-class fashion is irrelevant. They had fifteen months to adopt a credible medium-term fiscal consolidation package following the last increase in the debt ceiling. There was no sense of urgency, until the fiscal cliff was imminent. Then, they took the course of accommodation making essentially all the 2001 and 2003 tax cuts permanent and patching the AMT at current levels (when issues about the right level for the patch given the nation's fiscal imbalances were not examined) while choosing not to address the spending side of the equation. Excuses to the contrary, the choice to postpone spending-related reforms was deliberate.

    In that context, it is not improper to ask whether the United States today has political leaders who grasp the big picture and who are willing and able to address the nation's big challenges. An absence of strategy--where the nation wants to go and preparation for contingengies-- and their lurching from near self-inflicted crisis to near self-inflicted crisis is not an indication that American policy makers understand the big picture, much less the consequences of their choices. Needlessly frittering away time, engaging in petty rhetoric for partisan advantage, and threatening to push the nation into partial default is not an indication that they are willing and able to address the nation's big challenges in any kind of effective manner.

    In August, 2011 courtesy of suboptimal political leadership, the nation had a near-miss with a partial default. In December 2012, again on account of ineffective leadership, it had a near-miss with the fiscal cliff, averted only after the Vice President and Senate Minority leader filled the leadership vacuum and came up with a hasty solution to avoid the worst of the fiscal cliff. Now, the nation has reached its statutory debt limit and is steaming steadily toward the proverbial iceberg where its borrowing authority will be exhausted. It is doing so, even as some in the House are politicizing the debt ceiling issue as a substitute for their repeated failure to demonstrate fiscal responsibility and the President is trying to demonstrate toughness. That's not leadership.

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

    Quote Originally Posted by donsutherland1 View Post
    I agreed when S&P lowered the U.S. credit rating. The nation's political leaders have demonstrated a repeated inability to tackle the nation's biggest challenges in an effective fashion. That they can blame-shift in world-class fashion is irrelevant. They had fifteen months to adopt a credible medium-term fiscal consolidation package following the last increase in the debt ceiling. There was no sense of urgency, until the fiscal cliff was imminent. Then, they took the course of accommodation making essentially all the 2001 and 2003 tax cuts permanent and patching the AMT at current levels (when issues about the right level for the patch given the nation's fiscal imbalances were not examined) while choosing not to address the spending side of the equation. Excuses to the contrary, the choice to postpone spending-related reforms was deliberate.

    In that context, it is not improper to ask whether the United States today has political leaders who grasp the big picture and who are willing and able to address the nation's big challenges. An absence of strategy--where the nation wants to go and preparation for contingengies-- and their lurching from near self-inflicted crisis to near self-inflicted crisis is not an indication that American policy makers understand the big picture, much less the consequences of their choices. Needlessly frittering away time, engaging in petty rhetoric for partisan advantage, and threatening to push the nation into partial default is not an indication that they are willing and able to address the nation's big challenges in any kind of effective manner.

    In August, 2011 courtesy of suboptimal political leadership, the nation had a near-miss with a partial default. In December 2012, again on account of ineffective leadership, it had a near-miss with the fiscal cliff, averted only after the Vice President and Senate Minority leader filled the leadership vacuum and came up with a hasty solution to avoid the worst of the fiscal cliff. Now, the nation has reached its statutory debt limit and is steaming steadily toward the proverbial iceberg where its borrowing authority will be exhausted. It is doing so, even as some in the House are politicizing the debt ceiling issue as a substitute for their repeated failure to demonstrate fiscal responsibility and the President is trying to demonstrate toughness. That's not leadership.
    Ultimately, the American people are responsible for those they elect. In many cases they knew what they were getting and voted for them anyway. Fool me once......

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

    Quote Originally Posted by Grant View Post
    I don't know about "hate" but there is a great deal of international concern about the competence and honesty about this President. It is simply not true that "nobody cares".
    More total poppycock. Obama has restored the US as the most popular country in the world after trailing badly under the Bush regime.

    Barack Obama ran for president in 2008 based in part on the promise that he would restore America’s standing in the world, and a new Gallup poll released today shows that he has done just that. Respondents in 100 countries were surveying and the United States was the most popular world power at 47%. This is a roughly 14% increase in America’s global standing since the Bush administration.

    Gallup found that Obama has managed to turn the US from the power that trailed Japan, Germany, France, Russia, and even China from 2007-2008 into the most popular of the world’s global powers. US leadership is now approved of by 47% of the world and only 25% disapprove. Germany is second with a 40%/17% approval to disapproval ratio. France was third with a 39% approval rating followed by Japan (37%), the UK (35%), China (31%), and Russia (27%).
    Obama Clears Out The Bushes And Restores America's Global Popularity

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

    Quote Originally Posted by donsutherland1 View Post
    I agreed when S&P lowered the U.S. credit rating. The nation's political leaders have demonstrated a repeated inability to tackle the nation's biggest challenges in an effective fashion. That they can blame-shift in world-class fashion is irrelevant. They had fifteen months to adopt a credible medium-term fiscal consolidation package following the last increase in the debt ceiling. There was no sense of urgency, until the fiscal cliff was imminent. Then, they took the course of accommodation making essentially all the 2001 and 2003 tax cuts permanent and patching the AMT at current levels (when issues about the right level for the patch given the nation's fiscal imbalances were not examined) while choosing not to address the spending side of the equation. Excuses to the contrary, the choice to postpone spending-related reforms was deliberate.

    In that context, it is not improper to ask whether the United States today has political leaders who grasp the big picture and who are willing and able to address the nation's big challenges. An absence of strategy--where the nation wants to go and preparation for contingengies-- and their lurching from near self-inflicted crisis to near self-inflicted crisis is not an indication that American policy makers understand the big picture, much less the consequences of their choices. Needlessly frittering away time, engaging in petty rhetoric for partisan advantage, and threatening to push the nation into partial default is not an indication that they are willing and able to address the nation's big challenges in any kind of effective manner.

    In August, 2011 courtesy of suboptimal political leadership, the nation had a near-miss with a partial default. In December 2012, again on account of ineffective leadership, it had a near-miss with the fiscal cliff, averted only after the Vice President and Senate Minority leader filled the leadership vacuum and came up with a hasty solution to avoid the worst of the fiscal cliff. Now, the nation has reached its statutory debt limit and is steaming steadily toward the proverbial iceberg where its borrowing authority will be exhausted. It is doing so, even as some in the House are politicizing the debt ceiling issue as a substitute for their repeated failure to demonstrate fiscal responsibility and the President is trying to demonstrate toughness. That's not leadership.
    Interest rates actually went down after the credit downgrade so it seems the World's investors doen't agree with Moody's or you. The childish behavior of the House Republicans is what caused the first downgrade and now it appears they are going for another. That is not only not leadership that is TREASON.

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

    Quote Originally Posted by iguanaman View Post
    More total poppycock. Obama has restored the US as the most popular country in the world after trailing badly under the Bush regime.
    Any idea why the rest of the world (and I'm assuming this wouldn't include world leaders) likes Obama so much?

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

    Quote Originally Posted by Khayembii Communique View Post
    He shouldn't have to negotiate on the debt ceiling. That should be a non-issue.
    That's correct, I think he is learning he lesson now. You don't decide your not paying for dinner after you've eaten it.


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

    Quote Originally Posted by Grant View Post
    Any idea why the rest of the world (and I'm assuming this wouldn't include world leaders) likes Obama so much?
    LOL You must think all world leaders are like Dick Cheney. He didn't care what the American people wanted.
    The worlds leaders like the same things about Obama as the world's people do.

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

    Quote Originally Posted by TaraAnne View Post
    Mow its a myth but anytime a Republican wants to talk about the budget they say we were the ones that forced Clinton to balance the budget. Bush2 could have stopped 9/11. Clinton did not have anything to do with Iraq. The reason it was voted for was faulty info produced by Bush2 and his war mongers. Please stop with the nonsence. Republicans are the wildest spenders around period. History and facts are not on your side here.

    It would be good to know history before trying to use it against people.

    Transcript President Clinton explains Iraq strike - CNN
    Tom Brokaw: President Clinton Thought Saddam Hussein Had WMD | NewsBusters
    Iraq Liberation Act - Wikipedia, the free encyclopedia

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

    Quote Originally Posted by iguanaman View Post
    Interest rates actually went down after the credit downgrade so it seems the World's investors doen't agree with Moody's or you. The childish behavior of the House Republicans is what caused the first downgrade and now it appears they are going for another. That is not only not leadership that is TREASON.
    S&P, not Moody's, reduced the U.S. credit rating. The others, including S&P, have the U.S. on negative outlook. The debt crisis in Europe, "safe haven" value of the U.S., and quantitative easing all coincided to help produce that benign outcome. Then, the U.S did not default.

    A partial default would very likely be a different matter. It would demonstrate that a commitment to honor the nation's obligations is no longer a binding constraint on its policy makers. Once they cross the threshold of partially defaulting, they will have established a precedent that the U.S. can default. Once the U.S. is no longer viewed as "exceptional" in the area of finance, there will be a risk premium. I suspect it would be modest, but over the long-term, even a 10 or 20 basis point premium can have a large impact.

    Also, it should be noted that absent a self-inflicted partial default, the U.S. does not face an imminent debt crisis. In no way am I suggesting such an outcome is likely absent a fiscal consolidation agreement. That's where the deficit hawks get things wrong. The risk is medium-term and beyond. A timely and credible fiscal consolidation agreement gives the nation a transitional period in which it can stabilize and then reduce its debt relative to GDP. The absence of such a program will, in the medium-term and beyond, reduce the nation's flexibility and reduce the transitional period in which it can act to address its fiscal imbalances.

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