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Thread: Palin dismisses Geithner warnings about debt ceiling

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by Councilman View Post
    What we need is a real dose of voodoo economics Reagan style because it was the positive as much as anything that turned us around from the failed Carter years. .
    Wrong again!! 20% of the current debt is attributed to Reagan..



    Better get your facts straight before you go making a fool of youself..

    Presidents and the Federal Debt

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by rcart76 View Post
    Palin dismisses Geithner warnings about debt ceiling - Yahoo! News


    What the hell is wrong with this chick !!!!! Every economist will tell that the debt ceiling deadline shouldn't be f*** with. Is this who the tea party wants to be president????
    The debt ceiling deadline shouldn't be changed.

    And if the Democrats refuse to meaningful and substantial cuts in their spendin agenda, the debt ceiling should stay exactly where it is when that deadline rolls around.

    That's not hard to figure out.

    The Democrats clearly don't care that their "President" is running a third trillion dollar deficit, even though unemployment it rising once again thanx to his incompetence.

    The Americans care.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by DemonMyst View Post
    Wrong again!! 20% of the current debt is attributed to Reagan..



    Better get your facts straight before you go making a fool of youself..

    Presidents and the Federal Debt
    And you should recognize that revenue jumped tremendously during the Reagan years but spending under the Democratic congress did not go down it, in fact, went up just as tremedously. That graph is a huge steam pile of half information. Did Krugman author it?

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    Re: Palin dismisses Geithner warnings about debt ceiling

    There is not a single member of this forum or thread that would handle their finances in such a manner. There is no question the debt ceiling must be raised and the specific reason it must be raised is excessive spending. Anyone who can balance an online checkbook knows this. We simply cannot sustain our current level of spending, no one here would increase debt and spending at the same time and pretend that's a sound financial plan.
    Last edited by Regime Change; 06-04-11 at 08:02 AM.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by OpportunityCost View Post
    And you should recognize that revenue jumped tremendously during the Reagan years but spending under the Democratic congress did not go down it, in fact, went up just as tremedously. That graph is a huge steam pile of half information. Did Krugman author it?
    I thought we were talking about debt?? Why must you people change the topic when you know you lost?? Sheesh!! Get a clue will you!! If you can't prove it wrong then you have nothing to say.. Have a nice day..

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by Regime Change View Post
    There is not a single member of this forum or thread that would handle their finances in such a manner. There is no question the debt ceiling must be raised and the specific reason it must be raised is excessive spending. Anyone who can balance an online checkbook knows this. We simply cannot sustain our current level of spending, no one here would increase debt and spending at the same time and pretend that's a sound financial plan.
    Not entirely true.. Kill the $320 billion a year tax cuts to the rich would be a good start.. Nearly a third of the deficit wiped out.. Kill the tax breaks and stuff to the oil companies.. There is another $70 billion or so a year.. Make some smart investments that will get this nation working again.. More people paying taxes increases revenue.. A public option would also save billions in healthcare costs.. Anything that can save money is a good idea.. Even if you have to spend to do it.. We aren't talking about the family checkbook here.. Trust me, I would love to just use some money to invest in an IPO and make millions.. Pay back the money I borrowed, pay off my debt, and live the life of Riley.. Who wouldn't?? Our government has that option.. They can make some smart investments and work itself out of debt.. I have already shown how about a third of the deficit could be wiped out without spending a penny.. What more do you want??

    I didn't have to kill medicare to do it.. Imagine that..

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by Mayor Snorkum View Post
    The debt ceiling deadline shouldn't be changed.

    And if the Democrats refuse to meaningful and substantial cuts in their spendin agenda, the debt ceiling should stay exactly where it is when that deadline rolls around.
    I'd agree that there needs to be spending cuts in addition to this, but threatening to default on the bonds is just plain irresponsible. It's bad for investors, business and the general economy.

    (Spending is a problem on both sides, BTW. Republicans spent plenty under Reagan and Bush. Either Bush, take your pick)

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by DemonMyst View Post
    Not entirely true.. Kill the $320 billion a year tax cuts to the rich would be a good start.. Nearly a third of the deficit wiped out.. Kill the tax breaks and stuff to the oil companies.. There is another $70 billion or so a year.. Make some smart investments that will get this nation working again.. More people paying taxes increases revenue.. A public option would also save billions in healthcare costs.. Anything that can save money is a good idea.. Even if you have to spend to do it.. We aren't talking about the family checkbook here.. Trust me, I would love to just use some money to invest in an IPO and make millions.. Pay back the money I borrowed, pay off my debt, and live the life of Riley.. Who wouldn't?? Our government has that option.. They can make some smart investments and work itself out of debt.. I have already shown how about a third of the deficit could be wiped out without spending a penny.. What more do you want??

    I didn't have to kill medicare to do it.. Imagine that..
    There's more than one way to skin a cat. Both sides need to have a major reality check and realize that they're not going to get everything their way. They also need to keep their social agendas out of it. Class warfare on tax policy, or cutting everything to Planned Parenthood and NPR are both not acceptable to the American people (who by and large are somewhere in the middle).

    You all just don't get it. Republican gains in the election were not a mandate to go after gay marriage, or a mandate to do it their way. Americans knew darn well that they weren't voting for President, and that therefore the two parties would have to compromise. I know the Kool-Aid drinkers think that Americans are dumb, but they aren't.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by apdst View Post
    So far, how have Geithner's economic policies worked out?
    Tax Cheat Tim's ambitions far exceeds his intellect.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by rocket88 View Post
    I don't know what the numbers are, but as far as I understand it, you wouldn't like how far spending would have to be cut. Really, we're talking about pretty basic stuff (like soldier's paychecks).
    Interest on the debt is running about 30 billion dollars a month. So there is no need to default. As far as cuts go, let's return to 2008 spending levels, fire every person hired for every new federal job since 2008, get our money back from the public sector unions (that is where much of the so called stimulus went) and the nation will be in much better shape.
    For July let's identify all federal departments not identified in the constitution and rank order them in terms of the number of regulations they produce per year. Start with the one with the most new regulations per year. Repeal every regulation, fire all of the people and sell the buildings. Repeat as required.
    Stop paying greedy geezers for everything their hearts desire.

    Quote Originally Posted by rocket88 View Post
    For investors all over the world, US Government bonds are seen as the one sure thing.
    That must be why China is divesting itself of US debt instruments.
    Quote Originally Posted by rocket88 View Post
    Your opinion of the government's promise to pay it's debt is not shared by most investors. Unless you're smarter than all of those investors and economists, I'd trust their opinion over yours on this matter.
    They are voting with their money. We are about to undergo a rating change. Everyone sees the coming crash, except perhaps, you.
    Quote Originally Posted by rocket88 View Post
    Even if you are, perception of the bonds is everything. Take away the one "sure bet" and many people stop investing altogether. If you think that's good for the economy, you don't understand the economy at all.
    Eventually the piper must be paid.

    Quote Originally Posted by rocket88 View Post
    News flash: Obama didn't invent budget deficits. He hasn't exactly helped, but we're talking about the last 30 years or more that deficits have been out of control. That's under Reagan and both Bushes as well as Obama. In fact, the only President to sign anything close to a balanced budget in recent memory is Bill Clinton.
    Mr. Clinton had the good fortune of a Republican congress.

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