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Thread: McConnell: No debt increase without benefit cuts

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    McConnell: No debt increase without benefit cuts

    WASHINGTON (AP) — Senate Republican Leader Mitch McConnell warned on Friday that GOP senators will not vote to increase the government's borrowing limit unless President Barack Obama agrees to rein in Social Security, Medicare and Medicaid, laying down a high-stakes marker just weeks before the debt ceiling is reached.

    In an interview with The Associated Press, McConnell complained that Obama has refused his offers — both public and private — to work on a bipartisan plan to tackle the nation's massive benefit programs, which threaten to overwhelm the budget in coming years.
    OK, folks. Get ready. The United States of America is about to default on its debt. However, despite the political rhetoric here by McConnell, I am inclined to agree with him. Who owns much of the debt? The banksters, who have already been given large chunks of money, via Bush and Obama. What better way to make the banksters pay for their dishonesty with the taxpayers than to tell them we aren't paying back what we borrowed, but they can keep all those billions of dollars we already gave them, after they ran their banks into the freaking ground?

    China is going to be pissed off too. They own the largest chunk of all our debt. Screw them too. They have been gaming the Capitalist system against us for years. We can game it too, by giving them a big, fat middle finger, and saying to them "What debt?".

    The Arabs? That's another story. They own a good chunk of debt too, but if we give them the finger, they will give us two fingers, by launching an oil embargo. All the more reason for us to wean ourselves off their oil so that, one day, we can tell them to either pay 10 times what food is worth, or eat their oil.

    Who else owns US debt? I don't give a crap. Let 'em burn too. Yea, things will be tough for a while. We might even have another Great Depression. But damn it - We have great land for growing food. We have the capacity to make our own steel and cars, if we get off our asses, and just do it. And, damn it, we have a resource that nobody in the world can hold a candle to - The American worker. Yea, things will be tough for a while, but we will not only come out of it better off than we were, but we will be finally be forced to balance the budget each year, because nobody in their right mind will ever again lend us so much as a dime. Works for me. LOL.

    Article is here.
    Last edited by danarhea; 03-11-11 at 07:04 PM.
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    Re: McConnell: No debt increase without benefit cuts

    Um. Hitting the debt limit hurts a lot more people than just those who happen to own US debt.
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: McConnell: No debt increase without benefit cuts

    I think what McConnell said was absolutely fair. I agree that the debt is getting out of hand but to suggest that the US is close to defaulting on it is disingenuous, so I'll just assume Dan was exaggerating.

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    Re: McConnell: No debt increase without benefit cuts

    Quote Originally Posted by StillBallin75 View Post
    I think what McConnell said was absolutely fair. I agree that the debt is getting out of hand but to suggest that the US is close to defaulting on it is disingenuous, so I'll just assume Dan was exaggerating.
    He's not exaggerating. There's a statutory limit to how much debt teh US can incur. Beyond that we have nothing left to spend.

    We are very close to this limit.
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    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: McConnell: No debt increase without benefit cuts

    Quote Originally Posted by Deuce View Post
    He's not exaggerating. There's a statutory limit to how much debt teh US can incur. Beyond that we have nothing left to spend.

    We are very close to this limit.
    I think the limit is a separate issue from actually having to default on the debt.

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    Re: McConnell: No debt increase without benefit cuts

    Quote Originally Posted by StillBallin75 View Post
    I think the limit is a separate issue from actually having to default on the debt.
    The government needs to learn to live on what it takes in. I say freeze all spending until a budget is produced.


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    Re: McConnell: No debt increase without benefit cuts

    Quote Originally Posted by j-mac View Post
    The government needs to learn to live on what it takes in. I say freeze all spending until a budget is produced.


    j-mac
    I agree in principle j-mac, but that's SOOOO much easier said than done.

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    Re: McConnell: No debt increase without benefit cuts

    Quote Originally Posted by StillBallin75 View Post
    I think what McConnell said was absolutely fair. I agree that the debt is getting out of hand but to suggest that the US is close to defaulting on it is disingenuous, so I'll just assume Dan was exaggerating.
    To be honest, I was exaggerating a bit, and having a little fun with it, but at the same time, I really don't think I'd mind it if the world got turned upside down a little, just so that we can get back to sane fiscal policy.
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    Re: McConnell: No debt increase without benefit cuts

    Quote Originally Posted by danarhea View Post
    To be honest, I was exaggerating a bit, and having a little fun with it, but at the same time, I really don't think I'd mind it if the world got turned upside down a little, just so that we can get back to sane fiscal policy.
    I agree dan. But like I've said multiple times it's all easier said than done. It's always easier to talk about spending cuts than to actually do something about it. It's politically easier to cut spending and lower taxes to please your constituents, but it's 10 times harder to raise taxes and reduces spending to solve a debt problem. As the saying goes, good economics =/= smart economics.

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    Re: McConnell: No debt increase without benefit cuts

    Quote Originally Posted by danarhea View Post
    OK, folks. Get ready. The United States of America is about to default on its debt. However, despite the political rhetoric here by McConnell, I am inclined to agree with him. Who owns much of the debt? The banksters, who have already been given large chunks of money, via Bush and Obama. What better way to make the banksters pay for their dishonesty with the taxpayers than to tell them we aren't paying back what we borrowed, but they can keep all those billions of dollars we already gave them, after they ran their banks into the freaking ground?

    China is going to be pissed off too. They own the largest chunk of all our debt. Screw them too. They have been gaming the Capitalist system against us for years. We can game it too, by giving them a big, fat middle finger, and saying to them "What debt?".

    The Arabs? That's another story. They own a good chunk of debt too, but if we give them the finger, they will give us two fingers, by launching an oil embargo. All the more reason for us to wean ourselves off their oil so that, one day, we can tell them to either pay 10 times what food is worth, or eat their oil.

    Who else owns US debt? I don't give a crap. Let 'em burn too. Yea, things will be tough for a while. We might even have another Great Depression. But damn it - We have great land for growing food. We have the capacity to make our own steel and cars, if we get off our asses, and just do it. And, damn it, we have a resource that nobody in the world can hold a candle to - The American worker. Yea, things will be tough for a while, but we will not only come out of it better off than we were, but we will be finally be forced to balance the budget each year, because nobody in their right mind will ever again lend us so much as a dime. Works for me. LOL.

    Article is here.
    You know what's weird? This is a straight AP story and yet it's biased, on purpose.

    Headline:

    McConnell: No debt increase without benefit cuts
    Them's fightin' words. He never uses the word "cuts." He's talking about reform. I'm very surprised.
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