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Thread: Obama aide: Debt limit fight could be "catastrophic"

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Joe,

    Your thoughts on this:

    http://www.atr.org/comprehensive-lis...amacare-a5758#


    j-mac
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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by j-mac View Post
    Are there any economists that would disagree with your two examples, which btw, resemble more an echo chamber of Keynesian thought than anything else. The WaPo, and a site that take contributors for articles from the WaPo.


    j-mac
    Sure. Noted above. But that makes for debate. And I do understand there ar eother sides, which has always been my point to Conservative who sees anyone disagreeing as stupid or nieve.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by Lord Tammerlain View Post
    Economists that follow the Austrian school of economic would (Ron Paul suppports this school)
    Ron Paul doesn't support Obamacare nor does he support raising taxes on the rich

    National Bankruptcy will Repeal Obamacare | Ron Paul .com

    Political positions of Ron Paul - Wikipedia, the free encyclopedia

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by Boo Radley View Post
    Sure. Noted above. But that makes for debate. And I do understand there ar eother sides, which has always been my point to Conservative who sees anyone disagreeing as stupid or nieve.
    I didn't call you stupid as others can look at your posts and arguments and make their own decision. As for being naive, yes, I do believe that. You buy concepts and theory while ignoring actual results. We have a 14.5 trillion dollar Federal Debt today and that excludes the trillions from our single payer SS and Medicare.

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by Boo Radley View Post
    Sure. Noted above. But that makes for debate.
    Then why is it then, that those in support of something as complex as Obamacare, often characterize their opponents as misleading. Can't one hold a differing opinion without being denigrated in such a way?

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by Conservative View Post
    This is rather frustrating as once again the individual has no responsibility in this problem. I have owned a number of homes in my lifetime and never did I have a lending institution hold a gun to my head and force me to sign paperwork that had an escalating interest rate. Personal responsibility doesn't seem to exist in the liberal world these days. Banks and lending institutions supported by our elected officials put together a sub prime lending program and individuals that couldn't afford the payments took advantage of the program. Banks then took the hit and requested the bailout. On one hand Barney Frank and his "crew" put pressure on the banks to make these loans but on the other banks made the loans and should have suffered the consequences for their mistake.

    I did not support TARP but understood it. IMO the banks should have been allowed to fail and if they had we wouldn't be in this mess today.
    individuals couldn't afford the payments, but still took advantage of them... that doesn't make sense. if they couldn't afford the payments, it sounds like a bad deal for them.

    the banks got bailed out. millions of americans have been foreclosed on. and you think it's the individuals that aren't being held responsible? also note that in '08 and '09 banks had record profits, once again that's because they sold the bad loans before they went bad and bet against them at the same time. since we bought aig for 100 cents on the dollar, we are paying the losing side on those bets now. since they sold the bad loans to gse's (we're responsible for their debt), pensions (what you and i are gonna retire on), and the fed (directly effecting the value of the currency that you and i use) the only one's not being held responsible are these very banks who are still throughing millions of people a year out of their homes.
    Democracy is two wolves and sheep voting on what's for dinner. Liberty is a well armed sheep willing to contest the vote.

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by Conservative View Post
    Ron Paul doesn't support Obamacare nor does he support raising taxes on the rich

    National Bankruptcy will Repeal Obamacare | Ron Paul .com

    Political positions of Ron Paul - Wikipedia, the free encyclopedia
    I did not say he did

    I said Ron Paul follows the Austrian school of economics,

    Which would be for a drastically smaller government (including military, he would also I am sure be against SS, medicare etc)
    Happy Hanukkah Cheerfull Kwanzaa
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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Zyroh;1059218247]individuals couldn't afford the payments, but still took advantage of them... that doesn't make sense. if they couldn't afford the payments, it sounds like a bad deal for them.
    People got into homes with zero down and subprime VARIABLE interest rates. They could afford low interest and the house payment but not when those interest rates reset

    the banks got bailed out. millions of americans have been foreclosed on. and you think it's the individuals that aren't being held responsible? also note that in '08 and '09 banks had record profits, once again that's because they sold the bad loans before they went bad and bet against them at the same time. since we bought aig for 100 cents on the dollar, we are paying the losing side on those bets now. since they sold the bad loans to gse's (we're responsible for their debt), pensions (what you and i are gonna retire on), and the fed (directly effecting the value of the currency that you and i use) the only one's not being held responsible are these very banks who are still throughing millions of people a year out of their homes.
    Yes the banks got bailed out which I didn't agree with and individuals who couldn't afford the payments lost their homes. Who forced those people to buy the home in the first place? Some banks, Wells Fargo for example and J.P. Morgan didn't ask for the bailout but were forced to take it.

    Interesting how we have such a difference in attitude. I don't expect you to bail me out when I make a poor choice or bad mistake

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by Lord Tammerlain View Post
    I did not say he did

    I said Ron Paul follows the Austrian school of economics,

    Which would be for a drastically smaller government (including military, he would also I am sure be against SS, medicare etc)
    Not familar with the Austrian school of economics but my response was more to Boo and his stance on raising taxes on the rich and Obamacare. Paul certainly believes in a smaller Defense Department which is probably possible but it is harder defending a nation of 308 million with the land mass we have along with the bullseye on this country by radical Islam and rogue nations like Iran and North Korea.

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    Re: Obama aide: Debt limit fight could be "catastrophic"

    Quote Originally Posted by j-mac View Post
    Joe,

    Your thoughts on this:

    Comprehensive List of Tax Hikes in Obamacare


    j-mac
    That was hard to read and follow. I'll seek something I can manage better.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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