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

head of joaquin said:
Congress passed the budget. Now pay for it. Tea baggers only know how to pretend to govern.
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They did? Could you give me a link to that legislation? I was not aware that a budget had been passed for FY13.
 
head of joaquin said:
Well, Obama has proposed about $1T in cuts over the next decade, but the GOP doesn't know how to say yes.
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So basically he's offering to cut 10% of our total deficit over 10 years time. That's bollocks.
 
head of joaquin said:
Well, Obama has proposed about $1T in cuts over the next decade, but the GOP doesn't know how to say yes.
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And what about the cuts Republicans want to make? The Democrats just don't know how to say yes.

/illogical partisan thinking
 
head of joaquin said:
Well, Obama has proposed about $1T in cuts over the next decade, but the GOP doesn't know how to say yes.
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A proposal, if my memory serves, that is largely backdated....meaning it relies on future presidents and congresses to actually stick to it....and it largely predicated on "savings" from something that will occur regardless of whether or not his proposal was passed, the ending of significant action in Afghanistan. Not to mention, a proposal that is akin to scooping one bucket load of water out of a sinking cruise liner.
 
tessaesque said:
So basically he's offering to cut 10% of our total deficit over 10 years time. That's bollocks.
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Not even, these are cuts in future growth. And thats according to the current baseline, which doesnt factor in NEW spending programs. It not like they are enforcing PAYGO, so we can assume spending will go up faster than the baseline. Like how the recent fiscal cliff supposedly raised taxes, but then they passed a Sandy relief bill which wipes out the new taxes already.
 
tessaesque said:
I fail to see how putting "budget" in lower case in anyway negates the fact that the statement was incorrect.
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An appropriations bill is a form of budgeting. I'm sorry if you got caught up in the semantics, but it doesn't really matter what you want to call it.

ttwtt78640 said:
So we should shut down the gov't instead? Obama will not negotiate, as he has a "mandate" to keep right on borrowing and spending - just ask him. "Budget" negotiations require a "budget", can you show us one for any year since Obama was in office? I seem to recall that the new "budget" deal is using "continuing resolutions" to keep federal spending based upon the 20% increased level attained in 2008/9 with the "one time" TARP and ARRA (stimulus) "crisis" and "emergency" added "Bush" spending. We were told it was the "Bush wars" that made federal spending so high, yet how much did the federal deficit/spending go down after the "Bush" Iraq war ended? Hmm...
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If republicans wanted to be consistent in their position they would oppose the appropriations bills and shut the government down. They would not support the appropriations bills then oppose raising the debt ceiling to finance the spending they approved. That is hypocritical. Obama is not choosing to negotiate on this issue because it really should not be a problem to raise the debt ceiling to fund the spending that congress has already approved. That is why he is not negotiating. These talks should be within the context of the budget, not the debt ceiling.
 
Khayembii Communique said:
An appropriations bill is a form of budgeting. I'm sorry if you got caught up in the semantics, but it doesn't really matter what you want to call it.



If republicans wanted to be consistent in their position they would oppose the appropriations bills and shut the government down. They would not support the appropriations bills then oppose raising the debt ceiling to finance the spending they approved. That is hypocritical. Obama is not choosing to negotiate on this issue because it really should not be a problem to raise the debt ceiling to fund the spending that congress has already approved. That is why he is not negotiating. These talks should be within the context of the budget, not the debt ceiling.
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One has nothing to do with the other. One is an outlay, a order to buy something. Another is revenue. A way to pay for it. Obama prefers to use a credit card. Conservatives want to use cash, by moving it from one order to another.
 
longview said:
This cannot be shown enough.
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” …….. Senator Barack Obama
One of the few times I might agree with Obama.
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They should put that on a t-shirt , how many times has he raised it since becoming president?
 
The government had to raise the debt celing last year to pay its obligations. The same arguments apply.That should have made us even, last year, right? So why do we need to raise the debt ceiling again? The boneheads did not try to save anything, but spent even more since they got away with it.

If we cover our debt again, and break even by raising the ceiling, what prevents the same boneheads from overspending again, next year? As long as there is no penalty for the boneheads why should they not continue this game each year?

I would let the government default for as many days as needed so the spending goes back to last years debt ceiling.
 
The only non discretionary spending our Federal Government engages in,
is the servicing the Federal Debt.
Everything else should be on the table.
We have a national revenue of $2,302,495 Million and spend $3,598,086 Million.
(TABLE FFO-1.—Summary of Fiscal Operations 2011)
So we need to trim 36% from our budget, It actually needs to be more, as $454,000 Million
will be used to service the debt.
So we need to get spending down to about 1,800,000 Million per year.
It is a tough choice, but any other will lead to financial ruin.
 
Fisher said:
I wouldn't give this WH what it wants if it does not put some skin in the game, but I am not the Speaker.
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Since when is paying our bills something that everybody doesn't want to do?
 
It is a very bad idea to attempt to hold the country hostage for ideological purposes. Reason being, the President can simply supersede the debt limit by issuing transferable registered warrants. Their are rumors afloat that financing companies are likely to emerge from such an action. The idea is they will pay something like 90% of the warrant value in cash/direct deposit.

Republican lawmakers must really have desire to become irrelevant.
 
In terms of the issue of one's not being able to assume rationality applies at all times in Washington that I had mentioned earlier, the Politico.com blog suggests that there is a number of House Members who might be inclined to force a partial default. That piece can be found at: Behind the Curtain: House GOP eyes default, shutdown - POLITICO.com
 
iguanaman said:
Since when is paying our bills something that everybody doesn't want to do?
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Please quote me who is specifically not wanting to "pay our bills"? At best, all I keep seeing is media types stating that's what "some" GOP members want to do...but never producing any quotes that I've seen. I'd be happy to see ones and happily lambast them.
 
iguanaman said:
Since when is paying our bills something that everybody doesn't want to do?
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Obama has made it quite clear that he will "pay for" only what extra he may extract from "the rich", by increasing taxation on them, calling this "needed balance" and demands at least a $1 in added taxation for each $1 in spending cuts. This puts the congress critters in a very unique position of having both parties in basic agreement to just keep right on borrowing and spending throughout the reign of Obama. The fundamental transformation of America is well underway. ;)
 
Zyphlin said:
Please quote me who is specifically not wanting to "pay our bills"? At best, all I keep seeing is media types stating that's what "some" GOP members want to do...but never producing any quotes that I've seen. I'd be happy to see ones and happily lambast them.
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What politician would put their name behind such catastrophic measure?
 
Kushinator said:
What politician would put their name behind such catastrophic measure?
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Wonderful. So this is the logic we're going off of.

Great, lets move forward with it.

We shouldn't sell our country to China to solve the debt crisis as some Democrats are suggesting. I can't tell you which democrats, but I mean...what politicians would put hteir name behind such catastrophic measure? But clearly, WHO would sell our country to China?!
 
Zyphlin said:
We shouldn't sell our country to China to solve the debt crisis as some Democrats are suggesting. I can't tell you which democrats, but I mean...what politicians would put hteir name behind such catastrophic measure? But clearly, WHO would sell our country to China?!
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If you are going to try and make a point, at least let it reflect a bit of accuracy! As of recently, the largest purchasers of U.S. Treasury debt are the EU and Japan. China has began shifting its U.S. investment into real estate, private equity, and private debt. The procedes of which get soaked up into U.S. banks and money markets.

None the less: foreign purchases of U.S. debt is a function of the current account!
 
And secondly... Chinese demand for U.S. sovereign debt is not even 1/100th as bad for economic growth as a move to try to send the Federal government into default.
 
iguanaman said:
Since when is paying our bills something that everybody doesn't want to do?
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Since when is lowering our bills something nobody wants to do?
 
Obama Voted Against Debt Ceiling Increase In 2006 - Business Insider

Mr. OBAMA: Mr. President, I rise today to talk about America’s debt problem. The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.

[...]
Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘‘the buck stops here.’’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.
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Full Speech: http://www.gpo.gov/fdsys/pkg/CREC-2006-03-16/pdf/CREC-2006-03-16-pt1-PgS2236.pdf
 
Zyphlin said:
Please quote me who is specifically not wanting to "pay our bills"? At best, all I keep seeing is media types stating that's what "some" GOP members want to do...but never producing any quotes that I've seen. I'd be happy to see ones and happily lambast them.
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I think it is possible that we would shut down the government to make sure President Obama understands that we’re serious,” House Republican Conference Chairwoman Cathy McMorris Rodgers of Washington state told us. “We always talk about whether or not we’re going to kick the can down the road. I think the mood is that we’ve come to the end of the road.”
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Behind the Curtain: House GOP eyes default, shutdown - POLITICO.com
 
tessaesque said:
I fail to see how putting "budget" in lower case in anyway negates the fact that the statement was incorrect.
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Anyone who knows what a budget actually is woulnt make such a failure

A budget is nothing but a plan on how much money is to be raised and how much spent. The spending resolutions, along with the tax laws, constitute a "budget" (lower-case 'b')
 
jonny5 said:
One has nothing to do with the other. One is an outlay, a order to buy something. Another is revenue. A way to pay for it. Obama prefers to use a credit card. Conservatives want to use cash, by moving it from one order to another.
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Nonsense. When it comes to deficits, it;s the appropriations bills that matter, not the budget. Budgets don't authorize a single penny is spending.
 
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