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  1. #1
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    Obama: GOP Talk Of Not Raising The Limit "Absurd"

    Obama also warned congressional Republicans that he will not trade spending cuts for their votes to raise the country’s debt ceiling.

    Obama called Republican talk of not raising the limit—of, in effect, not paying the country’s bills—“irresponsible” and “absurd.” He said the GOP will “not collect a ransom in return for not crashing the economy.

    “You don’t go out to dinner and then eat all you want and then leave without paying the check—and if you do you’re breaking the law," he said. “If congress wants to have a debate about maybe we shouldn’t go out to dinner next time, maybe we should go to a more modest restaurant, that’s fine. That’s a debate that we should have. But you don’t say, ’In order for me to control my appetites, I’m going to not pay.'"

    Even as Obama spoke, Republican Senate Minority Leader Mitch McConnell said in a statement that "the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it."

    And Republican House Speaker John Boehner warned that "the consequences of failing to increase the debt ceiling are real, but so, too, are the consequences of allowing our spending problem to go unresolved." He added: "The House will do its job and pass responsible legislation that controls spending, meets our nation’s obligations and keeps the government running."
    http://news.yahoo.com/blogs/ticket/o...-politics.html

    Sen. Barack Obama’s Floor Speech, March 20, 2006 — “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”


    Obama has also failed to produce a budget in 4 of the last 5 years and has informed Paul Ryan that the budget for this year will not be delivered on-time as he promised.

    I guess it's so "absurd" that Republicans want spending cuts if they are going to raise the ceiling. What's so "absurd" about that?

  2. #2
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    Quote Originally Posted by GoCrew5 View Post
    http://news.yahoo.com/blogs/ticket/o...-politics.html

    Sen. Barack Obama’s Floor Speech, March 20, 2006 — “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”


    Obama has also failed to produce a budget in 4 of the last 5 years and has informed Paul Ryan that the budget for this year will not be delivered on-time as he promised.

    I guess it's so "absurd" that Republicans want spending cuts if they are going to raise the ceiling. What's so "absurd" about that?
    Because we already spent the money. Not raising the debt ceiling is like saying ya know we spent all this money but we are not going to pay it back. Here's an idea call your credit card company and tell them you aren't paying.

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  3. #3
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    What is so annoying about this is that the debt ceiling was raised 7 FREAKING TIMES under Bush with no objection by Republicans or Democrats. Now we have a Republican Party that has been taken over by Resident Evil Zombie types who are unwilling to raise the debt ceiling unless they get what they want, even if it risks damaging the world economy, which is in the process of recovering.

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    Quote Originally Posted by SportsAndrew25 View Post
    What is so annoying about this is that the debt ceiling was raised 7 FREAKING TIMES under Bush with no objection by Republicans or Democrats. Now we have a Republican Party that has been taken over by Resident Evil Zombie types who are unwilling to raise the debt ceiling unless they get what they want, even if it risks damaging the world economy, which is in the process of recovering.
    Even Newt Gingrich who was apart of the republican Debt bluff under Clinton says its a bad idea.

    Part of me wants to go through it so these guys lose even more credibility and hopefully won't get re elected.

  5. #5
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    I think it'll get raised.

    But I have an interesting question, to the people who say it's already been spent (which is 100% factual) so you have no reason not to raise it. If you answered yes to that question. Can you answer how you feel about Bush's law he got through that made it that much harder to claim bankruptcy on your personal debt?


    On point it'll get raised the republicans just want some future reduction in debt to agree to do it. Yes it's quasi holding the markets captive, but how else are they to ring in spending. The fiscal cliff didn't bring in the spending like they wanted. They are running out of options. Regardless to me there is less than 1% chance this doesn't get raised. Heck they might go around it and rule the debt ceiling is unconstitutional.
    Therefore he doesn't exist
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  6. #6
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    Every agency of government that doesn't self fund itself (ie Social Security or the Fed) should be required to cut its budget by 5% and if they fail to do that then their budget gets cut by 20%.

    Use that 5% savings to pay down the debt and raise the debt ceiling.
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  7. #7
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    Hasn't the value of the dollar dropped enough?

  8. #8
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    Quote Originally Posted by dbroncos78087 View Post
    Every agency of government that doesn't self fund itself (ie Social Security or the Fed) should be required to cut its budget by 5% and if they fail to do that then their budget gets cut by 20%.

    Use that 5% savings to pay down the debt and raise the debt ceiling.
    that's pretty intriguing. What would that save? Thinking outside the box I like it
    Therefore he doesn't exist
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  9. #9
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    Quote Originally Posted by dbroncos78087 View Post
    Every agency of government that doesn't self fund itself (ie Social Security or the Fed) should be required to cut its budget by 5% and if they fail to do that then their budget gets cut by 20%.

    Use that 5% savings to pay down the debt and raise the debt ceiling.
    The Federal Reserve isn't an agency, and it is self funded. It doesn't show up on the government balance sheet. It earns interest on the money it lends out. That money was created out of thin air. Most of the government debt is actually ultimately owed back to the federal reserve with interest.

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    Quote Originally Posted by dbroncos78087 View Post
    Every agency of government that doesn't self fund itself (ie Social Security or the Fed) should be required to cut its budget by 5% and if they fail to do that then their budget gets cut by 20%.

    Use that 5% savings to pay down the debt and raise the debt ceiling.
    Too bad these ***holes in Washington would instead spend it to fund a war in Syria or some crap.

    I have absolutely no faith in those clowns to do any single thing right for the people of this country.

  11. #11
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    Quote Originally Posted by dbroncos78087 View Post
    Every agency of government that doesn't self fund itself (ie Social Security or the Fed) should be required to cut its budget by 5% and if they fail to do that then their budget gets cut by 20%.

    Use that 5% savings to pay down the debt and raise the debt ceiling.
    I like this idea though think I would go even farther say 10% or more and 35% cut if they refuse or punt the issue. We keep hearing about cuts in spending but is it really a cut in spending? Or is it a cut in the amount of growth in spending appropriated to each department?

    Also if the debt ceiling isn't raised are we really defaulting on what was already spent? Or are we just not giving government any more room on a maxed out credit card? How can you have already spent something but then need more room to actually pay for it? Again if you cut the rate of expansion in a multitude of programs you would be able to be well within your constraints.
    French writer Alexis de Tocqueville warned about when visiting this fledgling democracy in the early 19th century that this "American republic will endure until politicians realize they can bribe the people with their own money."

  12. #12
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    Quote Originally Posted by steelcityroller View Post
    Too bad these ***holes in Washington would instead spend it to fund a war in Syria or some crap.

    I have absolutely no faith in those clowns to do any single thing right for the people of this country.
    Agreed. All they want to do is ***** and moan pointing the finger at the other side. Claiming the other side is some multi-headed monster that must be defeated at all costs. I am sick to death of both sides. Especially the GOP who seem to be spineless unwilling to stand up with constructive ideas.
    French writer Alexis de Tocqueville warned about when visiting this fledgling democracy in the early 19th century that this "American republic will endure until politicians realize they can bribe the people with their own money."

  13. #13
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    Quote Originally Posted by hoosiercubsfan View Post
    I like this idea though think I would go even farther say 10% or more and 35% cut if they refuse or punt the issue. We keep hearing about cuts in spending but is it really a cut in spending? Or is it a cut in the amount of growth in spending appropriated to each department?

    Also if the debt ceiling isn't raised are we really defaulting on what was already spent? Or are we just not giving government any more room on a maxed out credit card? How can you have already spent something but then need more room to actually pay for it? Again if you cut the rate of expansion in a multitude of programs you would be able to be well within your constraints.
    I think you have to start small and built the 5% in overtime. So 5% this year, 5% of 95% next year, and so on. It's similar to the 1% cut theory.
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  14. #14
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    Quote Originally Posted by dbroncos78087 View Post
    Every agency of government that doesn't self fund itself (ie Social Security or the Fed) should be required to cut its budget by 5% and if they fail to do that then their budget gets cut by 20%.

    Use that 5% savings to pay down the debt and raise the debt ceiling.
    That's simple, logical, an even handed. I cant imagine anything like that happening. Maybe we should just mint a trillion dollar coin
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  17. #15
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    Quote Originally Posted by dbroncos78087 View Post
    I think you have to start small and built the 5% in overtime. So 5% this year, 5% of 95% next year, and so on. It's similar to the 1% cut theory.
    I am working off the basic assumption that each government program grows yearly at 8-10%. If they are growing at that level cutting each budget 10% would flat-line the growth for the year. And even if they only grow 8% a year your only talking about them actually cutting 2%. When we are going through tough economic times I don't think its out of the question to ask each of these departments that aren't self funding to do with what they did last year.

    Not asking for draconian sized cuts just making the government live within its means a little bit. The debt ceiling fight isn't over money that has already been spent but about money that is earmarked to be spent to grow said programs.
    French writer Alexis de Tocqueville warned about when visiting this fledgling democracy in the early 19th century that this "American republic will endure until politicians realize they can bribe the people with their own money."

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