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Thread: Economists: Failure to raise debt limit could lead to recession

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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by Badmutha View Post
    It means we still have enough monthly revenues to cover the necessities........

    .....but the Obama smorgasboard of out of control spending will have to come to an end.
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    Okay so you're just talking about cuts, right? If we cut we won't have to default. I just took that as a given..

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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by CarlF View Post
    What the hell is that supposed to mean.. The treasurer has said we can keep going until the 22nd without defaulting or cutting anything, can you explain to me how this is not true with facts and information and not vague rhetoric..
    Well, so. Now I understand how come Boehner isn't blinking. He's actually delusional. He wasn't back in January, but he is now.

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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by CarlF View Post
    Okay so you're just talking about cuts, right? If we cut we won't have to default. I just took that as a given..
    Which is the cold hard truth.......

    But considering Democrats cant bring themselves to cut even a Cowboy Poetry Contest, that theyhave never made a significant spending cut in US History, and are adding more government programs and more government spending every chance they get.........

    ........default remains possible.....
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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by Catawba View Post
    I am just as concerned about the governments domestic obligations to our own people and the economy. Let Congress cut spending the honorable way, vote to cut wasteful spending in all programs including the military, and stop the 30 year practice of giving tax breaks to people just because they are rich, regardless of whether they contribute to the US economy or not.

    And don't forget that most of that 14 trillion dollar debt was added under Republican Administrations.
    Yep... Why is it that debt to GDP consistently goes up under Republican administrations and down during Democratic administrations? Could it be that tax and spend is far more sound than tax cut and spend?
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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by BDBoop View Post
    Well, so. Now I understand how come Boehner isn't blinking. He's actually delusional. He wasn't back in January, but he is now.
    I don't know, is it more delusional to think we can keep getting in debt past 100 percent of GDP or force a halt where we already are. I'd say if the republicans want to be practical about it, they better not cause a default otherwise people will never elect them again. They have to get the democrats to cut more than token sums like 100 billion a year, but who knows if that's possible. Maybe we're truly screwed.
    Quote Originally Posted by Badmutha View Post
    Which is the cold hard truth.......
    I know, this is just a misunderstanding then. I thought you were trying to say that we could not default while also not raising the ceiling and not take any other action either.

    Quote Originally Posted by upsideguy View Post
    Yep... Why is it that debt to GDP consistently goes up under Republican administrations and down during Democratic administrations? Could it be that tax and spend is far more sound than tax cut and spend?
    Did you forget about the legislative branch? They're the ones who have the most power over spending in the first place. Also, that graph doesn't even show Obama.
    Last edited by CarlF; 07-07-11 at 01:31 AM.

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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by CarlF View Post
    I don't know, is it more delusional to think we can keep getting in debt past 100 percent of GDP or force a halt where we already are. I'd say if the republicans want to be practical about it, they better not cause a default otherwise people will never elect them again. They have to get the democrats to cut more than token sums like 100 billion a year, but who knows if that's possible. Maybe we're truly screwed.

    I know, this is just a misunderstanding then. I thought you were trying to say that we could not default while also not raising the ceiling and not take any other action either.
    Balance takes balance. That means not just cuts, not just tax hikes. And yes, of course I believe it can be done. Everybody has to be willing to compromise, though. Everybody has to take hits they don't want to take, for the greater good.

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    Re: Economists: Failure to raise debt limit could lead to recession

    By the way, what has the latest offer been that the democrats given the republicans? Last I heard I thought it was 1 trillion over ten years, I feel like I've somehow missed something because I read an editorial the other day claiming that democrats had offered trillions in cuts or something.

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    Re: Economists: Failure to raise debt limit could lead to recession

    Letters signed by economists? Oh...you mean like THIS one?

    Economists: Raising the Debt Limit Without Significant Spending Cuts Threatens Jobs | Speaker of the House John Boehner | speaker.gov

    Gee! I guess both sides have signed letters, thus rendering this entire thread pointless.
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    Thanks for your awesomeness, Jeezy.

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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by CarlF View Post
    By the way, what has the latest offer been that the democrats given the republicans? Last I heard I thought it was 1 trillion over ten years, I feel like I've somehow missed something because I read an editorial the other day claiming that democrats had offered trillions in cuts or something.
    Just type "debt ceiling" in news.google.com and start reading. There are signs that the Republicans are starting to realize they may be ****ing up.

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    Re: Economists: Failure to raise debt limit could lead to recession

    Quote Originally Posted by Badmutha View Post
    Spending originates in the house........
    Then why do folks blame Obama?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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