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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 xpiher View Post
    Clinton had the good fortune of having a RINO congress. If Clinton were president with this republican congress **** wouldn't have gotten done.
    Clinton had the good fortune of a Republican Congress that was smart enough to compromise when push came to shove. In other words, they know how to govern instead of being ideologues. We shall see if the current Congress has that capacity.

    I've long believed that Clinton and Gingrich needed each other in order to do anything.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by Misterveritis View Post

    The Contract with America was conservative, not liberal.
    The Contract with America never would have been anything but empty rhetoric with a Republican President.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by Misterveritis View Post
    Really? Every economist? LOL.
    I read the article and she has a great point. Tax cheat Tim has said the sky is falling before. Besides, if we don't raise the debt ceiling the alternative to default is to cut government spending. And that sounds pretty darned good to me.
    What happens when the interest payment on debt is greater than quarterly revenue? Can we call an 800-number and ask for an extension?

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by Misterveritis View Post
    Okay. You did not answer my question. Do you believe the government will default if we do not grant the one term president Obama the authority to spend even more money that we do not have?
    Yes the government will default on SOMETHING if the debt celling isn't raised for at least the short term. That or massive numbers of people will suddenly not have a job.

    And who are the working people? Does that include me? Or does that only refer to union members?
    It refers to anyone who works for the government.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by justabubba View Post
    the antideficiency act says that federal government officials cannot legally commit funds which have not been appropriated
    which then tells us that default will be the only alternative to paying our nation's financial obligations
    I think you misunderstand. We have already sold debt instruments. We can already pay them. The debt ceiling just let's us sell more debt instruments. It has little bearing on current debt.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by Misterveritis View Post
    I think you misunderstand. We have already sold debt instruments. We can already pay them. The debt ceiling just let's us sell more debt instruments. It has little bearing on current debt.
    the anti-deficiency act prohibits the federal staff from incurring financial obligations where there is no appropriations to cover it
    which means we cannot sell more debt instruments which would cause us to exceed the debt ceiling
    sorry you are unable to grasp it, but it cannot be said any simpler
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by justabubba View Post
    are you a wage earner? if the answer is "yes", then you are included in the group known as "working people"
    now that you have the answers you were seeking, share with us the point you are attempting to make
    I was wondering what the relationship was between the debt ceiling and working people being paid. The stimulus was used, in part, to make sure no union thugs would lose their jobs. If the one term president Obama cannot borrow more from our enemy, the ChiComs, to pay off his union thug buddies, then that would explain the working people not getting paid.

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    Re: Palin dismisses Tax Cheat Tim Geithner's warnings about debt ceiling

    Quote Originally Posted by rocket88 View Post
    Clinton had the good fortune of a Republican Congress that was smart enough to compromise when push came to shove.
    I think it was the other way around. president Clinton changed his behavior once he had a Republican Congress to control him.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by rocket88 View Post
    The Contract with America never would have been anything but empty rhetoric with a Republican President.
    Perhaps it would not have been needed. Here is a bit of it from wikipedia:

    On the first day of their majority in the House, the Republicans promised to pass eight major reforms:
    require all laws that apply to the rest of the country also apply to Congress; Congress exempted itself from laws frequently.
    select a major, independent auditing firm to conduct a comprehensive audit of Congress for waste, fraud or abuse; There were many Democratic scandals
    cut the number of House committees, and cut committee staff by one-third;
    limit the terms of all committee chairs;
    ban the casting of proxy votes in committee;
    require committee meetings to be open to the public;
    require a three-fifths majority vote to pass a tax increase;
    guarantee an honest accounting of the Federal Budget by implementing zero base-line budgeting.

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    Re: Palin dismisses Geithner warnings about debt ceiling

    Quote Originally Posted by hazlnut View Post
    What happens when the interest payment on debt is greater than quarterly revenue? Can we call an 800-number and ask for an extension?
    I will not do the math for you. The Federal government will seize more than 2 trillion dollars from the productive people who make the country work. Divide that number by the number of months in a year. You may discover that it is somewhat larger than the 30 billion per month of interest that comes due each month. We need not default and Tax Cheat Tim and the one term president Obama both know it.

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