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Thread: Republican Party unity cracks over raising $14.3 trillion debt ceiling

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by CriticalThought View Post
    Where was all this Republican bitching about debt when Bush was President? Where was all the doom and gloom about bankruptcy then? Does everyone think all this debt suddenly materialized in 2009 when the markets went under?
    Nah, lets be realistic. Not everyone of the new conservatives was a conservative then, not everyone was worried about bancruptcy then, not everyone was worried about the debt then. If Barack Obama did any one thing, he has unified the conservative movement in this country as no one else has. In the short term he has destroyed millions of peoples dreams of prosperity, in the long term,he has brought our nation together like no other in 50 years.

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by Chappy View Post
    Why does the G.O.P. hate Americans? They would rather **** over ordinary people to pay foreign creditors? What's the message to the American people? I think we all are hearing the message loud and clear.
    Just where exacty did you get this? I have read this thread to this point and I don't see where anyone has said or implied that the GOP hates people. Do you have some kind of special post filter that other people don't have? Where can we get one? How much do they cost?

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by ricksfolly View Post
    True, but there's always your credit card for emergencies. and that's what raising the National Debt is all about... Emergencies.

    ricksfolly
    Just because I have a credit card with a limit of , say, 14 dollars, does not mean that I I have to spend 14 dollars. But, look back at what the govt spending has been. When we raise the limit, then they spend to the limit, raise it again, and spend to it again.
    This is not emergency spending, this is not justifiable spending, this is not even necessary spending, it is out of control spending. If this was your wife spending your paycheck this way, how long would you let it go on before you put your foot down?

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by ricksfolly View Post
    It was $1.4 deficit in 2009, and a $1.5 trillion in 2010, a $100 billion increase, but really no big deal. The Fed Reserve funds will for pay for it in 2010 the same way they did in 2009.

    ricksfolly
    Are you really saying that the national deficit does not matter because next year, we will start over again? What kind of math did you learn in school?

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by ricksfolly View Post
    It was $1.4 deficit in 2009, and a $1.5 trillion in 2010, a $100 billion increase, but really no big deal
    astonishing

    elmendorf (cbo) testified TODAY before senate budget chaired by kent conrad who announced a couple weeks ago he's not running for reelection:

    CBO Director: Trillion-Dollar Deficits Risk 'Fiscal Crisis' in U.S. - FoxNews.com.

    conrad, meanwhile, bemoaned the lack of leadership coming from the white house:

    Dem, GOP suggest at hearing that Obama is failing to lead in budget crisis - The Hill's On The Money

    for solutions, the top anti-public-option progressive in the nation suggested, we're gonna have to look to the senate

    all TODAY

    how out of the loop can a voter, after all, be?

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by Chappy View Post
    Why does the G.O.P. hate Americans? They would rather **** over ordinary people to pay foreign creditors? What's the message to the American people? I think we all are hearing the message loud and clear.
    Quote Originally Posted by cholla View Post
    Just where exacty did you get this? I have read this thread to this point and I don't see where anyone has said or implied that the GOP hates people. Do you have some kind of special post filter that other people don't have? Where can we get one? How much do they cost?
    Here are the consequences of the Republican Study Committee's proposal.

    What they are saying is, ‘Pay the Chinese first.’ — Senate Budget Committee Chairman Kent Conrad (D-ND)

    [T]he full faith and credit extends to a lot of foreign countries but not to Americans. — House Budget Committee Ranking Member Rep. Chris Van Hollen (D-MD)

    Excerpted from “Treasury: Proposals to “Prioritize” Payments on U.S. Debt Not Workable; Would Not Prevent Default” By Neal Wolin, Deputy Secretary of the Treasury, “Treasury Notes” (blog), 1/21/2011, with my added emphasis
    While well-intentioned, this idea is unworkable. It would not actually prevent default, since it would seek to protect only principal and interest payments, and not other legal obligations of the U.S., from non-payment. Adopting a policy that payments to investors should take precedence over other U.S. legal obligations would merely be default by another name, since the world would recognize it as a failure by the U.S. to stand behind its commitments. It would therefore bring about the same catastrophic economic consequences Secretary Geithner has warned against, including sharp rises in mortgage interest rates and other borrowing costs for families; reductions in the value of homes, 401(k)s and other retirement savings; and negative effects on the dollar and the safe haven status of Treasury bonds and other Treasury securities. Such a policy would also be unacceptable to American servicemen and women, retirees, and all other Americans, who would rightly reject the notion that their payment has been deemed a lower priority by their government. For these reasons, the Department of Treasury has always emphasized – regardless of which party has held the White House or either house of Congress – that the only way to prevent default and protect America’s creditworthiness is to enact a timely increase in the debt limit.
    The consequences are horrific for Americans. While the Republican proposal would pay off the foreign interests, they would deprioritize domestic obligations; i.e., pay Americans last. Worse, it would fool no one; it would be “default by another name,” with all the deleterious consequences for us Americans. I interpret that as the G.O.P. despising the people, despising us and punishing us.

    We have excellent credit and while we have significant deficit issues, rational, reasonable solutions are readily available to us. They involve controlling spending and increasing some taxes. But, not according to the Republican radicals who think apparently the only good solution is to destroy our good standing in the world and bring about the impoverishment of America.
    “Real environmentalists live in cities, and they visit what's left of the wilderness as gently and respectfully as possible.” — Donna Moulton, letter to the editor, Tucson Weekly, published on August 23, 2001

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by Zyroh View Post
    i support cuts in spending, spending needs to be cut,
    Even if it means loss of jobs? That's what Gov spending is all about, you know, creating jobs.

    ricksfolly

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    It's funny. When the GOP says the the democrats are fractured, the dems brag that they're inclusive to many ideas. When the GOP has differences of opinion in their party, the dems say that their unity has cracked. Interesting.
    Because all things are not created equal.

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by cholla View Post
    Just where exacty did you get this? I have read this thread to this point and I don't see where anyone has said or implied that the GOP hates people. Do you have some kind of special post filter that other people don't have? Where can we get one? How much do they cost?
    he got this from the story at the beginning of this thread. for months the tea party has been telling us how we need to cut spending, and cut it at whatever cost to the country. now they come up with a plan that makes sure we pay bond holders in full 100%. people with treasury bonds haven't been out of a job for 2+ years, people with treasury bonds aren't relying on food stamps. if they really wanted to cut the spending they'd say even the creditors of the US government need a hair cut.
    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: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    did somone bring up united states responsibilities to holders of t bills?

    on the day after tsunami tuesday (most telling is the timing), on nov 3, 2010, fed bernanke announced his ultra aggressive further buying up of 600 billion dollars of treasuries, on top of the one point five TRILLION he's already pumped...

    Fed to Buy $600 Billion of Treasurys - WSJ.com

    3 days later, obama left the country, off for india, then indonesia, ending up in seoul for the g20 (an obligation, it's true, he woulda had to do regardless of political considerations), where his prime mission was to rally world leaders to pressure china to concede to currency revaluation...

    his g20 was thereby wrecked by bernanke's big bid...

    who are you to talk to us about currency, was the consensus reaction of the international community...

    the nyt described the trip thus---obama's economic views REJECTED on world stage

    the national journal called it his RODNEY DANGERFIELD moment

    Obama's economic view is rejected on world stage - San Jose Mercury News

    NationalJournal.com - America?s Rodney Dangerfield Moment - Friday, November 12, 2010

    do you know michael hirsh?

    is the journal spinning, is the lady (nyt)?

    just what exactly is reid/pelosi/obama/schumer's desperate rationale fiercely urging the necessity of once more raising the ceiling?

    get real

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