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Thread: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

  1. #31
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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by StillBallin75 View Post
    Agreed that Mistress was being a bit dramatic.

    Personally, I'd emphasize the fact that a sudden 44% decrease in government spending would be a serious negative shock to the economy.
    It really isn't. The agency responsible for stopping loose nuke trafficing is already facing a huge cut, or possible closure.

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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by MistressNomad View Post
    So you're saying you're ok with us being unable to educate our children indefinitely? You're ok with the FBI being discontinued and terrorism being allowed to flow into our borders? You're ok with plunging us and the world into a depression unlike anyone living has ever known?
    My kids education is funded locally. Any federal involvement is only overhead. As far as the rest, they've had going on three years to address this but haven't. Blame them.

    This is not a "hit" in the sense of tightening your belt and buying the cheap pasta. This would be a complete meltdown of our entire country. There are better ways to do this. You're basically proposing that someone commit suicide as a solution to credit card debt. That is beyond insane.
    This is the same BS we were sold TARP on. No more.

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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by StillBallin75 View Post
    Really depends on how things are prioritized. The only things I think are untouchable would be interest payments on the debt, and perhaps military paychecks. Everything else would likely be on the table.

    Not to mention about $500 billion worth of bonds mature in the month of August. The Treasury might have a hell of a time trying to roll that over. At the very least they'll have to raise interest rates to attract buyers.
    Raising interest rates would be a good thing.

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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Now, however, the Republicans are pushing things too far. Talks with the administration ground to a halt last month, despite an offer from the Democrats to cut at least $2 trillion and possibly much more out of the budget over the next ten years. Assuming that the recovery continues, that would be enough to get the deficit back to a prudent level. As The Economist went to press, Mr Obama seemed set to restart the talks.

    The sticking-point is not on the spending side. It is because the vast majority of Republicans, driven on by the wilder-eyed members of their party and the cacophony of conservative media, are clinging to the position that not a single cent of deficit reduction must come from a higher tax take. This is economically illiterate and disgracefully cynical.

    A gamble where you bet your country’s good name
    America's debt: Shame on them | The Economist

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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by StillBallin75 View Post
    It ain't worth it, man.

    It's always easier to say no until you have to own up to the consequences.
    We were told that TARP, the bail outs, the huge give aways would solve all of this. That without all this massive spending we were looking at real problems. We spent the money and here we are looking at real problems.

    Sorry, time to cut them off.

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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by 1Perry View Post
    We were told that TARP, the bail outs, the huge give aways would solve all of this. That without all this massive spending we were looking at real problems. We spent the money and here we are looking at real problems.

    Sorry, time to cut them off.
    Better talk to Bush and the republicans about that.. Tarp was a Bush deal!!

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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    I don't even know how to respond to that sort of callous rhetoric and blatant disregard for the well-being of not only the country itself, but the people in it, and oneself.

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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by 1Perry View Post
    Raising interest rates would be a good thing.
    Would result in MORE debt...
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
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  9. #39
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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by MistressNomad View Post
    Ok. So you're ok with old people starving to death or others dying of treatable conditions. Tell me how that's better.

    In addition, it wouldn't be enough. There would need to be hits elsewhere as well. Police forces, schools, and security would probably all take a hit. Some districts have already dropped to a 4-day school week because they can't afford 5 days a week. How many of them would close down all together? There already places cutting or closing down their police forces.
    They won't "starve to death" either. Such ridiculous dramatization. No one cried wolf when the administration drained the debt incurred for payment of federal pensions, but they're up in arms over this? Feh. The vast majority of day-to-day law enforcement isn't even funded by the federal government, with the exception of nationwide programs like "Click it or ticket." Same goes for schools -- No Child Left Behind is the exception not the rule. 1Perry has already touched on that. You think the Department of Education is what disburses school money? You'd be right if you were speaking about lunch assistance programs, but aside from that, schools are staying open.

    I'm aware of the need for across-the-board cuts, but the idea of the lights turning off in the Pentagon are utterly ridiculous. You'd think this were Y2K.

    The more Obama says "This might bring down the Presidency" the more Republicans will want to do it. As things stand, I doubt it will....at least not by itself.
    Last edited by Jeezy; 07-13-11 at 11:45 PM.
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    Re: Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

    Quote Originally Posted by 1Perry View Post
    We were told that TARP, the bail outs, the huge give aways would solve all of this. That without all this massive spending we were looking at real problems. We spent the money and here we are looking at real problems.

    Sorry, time to cut them off.
    1Perry, you really need to realize that absolutism/extremism is not the answer.

    We can mince words all we want, but at the end of the day, there is really no point for you to even come on DP if all you're doing is telling everyone they're wrong. The point of a debate, in this context, is to come to some sort of a compromise, and you completely undermine that fundamental. You're a lot like Cantor, in this respect, and you don't realize that what you're saying, if implemented, would devastate the lives of millions of Americans, and through extension, hundreds of millions of people.
    Veni. Vidi. Vici.
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