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White House to Request Another $1.2 Trillion Hike in the Debt Ceiling this Friday
- Thread starter mrplunkey
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PICK3
New member
my grandmother is requesting a cataract waiver to pursue a career as a carrier based jet pilot
neither is happening
just sayin'
L
lartinos
Guest
Ya, shocking.
They figure like the others that eventually some other guy will just deal with it and they will be long gone by that time.
They figure like the others that eventually some other guy will just deal with it and they will be long gone by that time.
Kinda like the bishes i fuck
L
lartinos
Guest
Yes, except the one you marry.
No marriage for me rob, I like my freedom
Headholio
New member
Reagan raised the debt ceiling 18 times. George W raised it 7 times. Never any whining from congress for the USA to pay its bills until the current radical right politicians played games with the USA's credit rating and caused the rating to be dropped.
And FYI for those of you who don't like to read much; the debt ceiling increase was agreed to in August when the repubs were playing their game. Congress doesn't have to approve it. Congress has an option to vote against it, but Obama can veto that. It's a done deal.
Do not fret. When revenues are down and the economy is floundering, debt makes sense (a necessary evil, you might say). Even Ronnie Reagan believed that. In the long run, its a much better option than putting government employees out of work and cutting programs for people who need them most, which just takes money out of the economy, and would lengthen the recession. That's why you really really shouldn't vote republican if you love this country.
And FYI for those of you who don't like to read much; the debt ceiling increase was agreed to in August when the repubs were playing their game. Congress doesn't have to approve it. Congress has an option to vote against it, but Obama can veto that. It's a done deal.
Do not fret. When revenues are down and the economy is floundering, debt makes sense (a necessary evil, you might say). Even Ronnie Reagan believed that. In the long run, its a much better option than putting government employees out of work and cutting programs for people who need them most, which just takes money out of the economy, and would lengthen the recession. That's why you really really shouldn't vote republican if you love this country.
GW didn't have 15trillion in debt to deal with, only seems logical to question adding to this large figure.
and hasn't keynesian logic about debt in a recession largely been repudiated?
and i think a lot of folks are gonna fret, because revenue is down and doesn't appear to have any rebound anytime soon...now this natty gas boom, if not cockblocked by green weenies, could add some bounce to the economy i.m.o
Headholio
New member
Yeah Bino, but he had a 10 trillion dollar debt to deal with. Do those numbers really demand a different attitude? He set a record in debt for his time, but the funny thing is, only the dems were whining about it.
No. In fact, Republicans love the whole concept. They just do it differently than dems. They pretend like they are worried about debt, and cut taxes, even if the last several tax cuts just made the debt worse.
Yes, people will fret, but revenue will come back. And don't worry about the gas boom. In case you haven't noticed, oil companies are doing just fine. I know, I work for one.
mrplunkey
New member
Reagan averaged deficits @ 4.2% of GDP and took us to 5.5% unemployment.
Barry is running deficits @ ~ 11% of GDP and runs ~8.5% unemployment.
Huge difference.
Headholio
New member
But you have to look at the reasons for the deficit
Two wars by Bush unfunded
Tax cuts by Bush unfunded
Economic collapse by Bush
TARP by Bush
Stimulus by Obama necessary because of Bush policies.
etc.
Much of Obama's debt was already on the books (or predicted) before his first day in office.
If a repub was in office right now, what would he do? Cut taxes. The only trick in the rightie bag. What would that do? Raise the debt.
In a recession the debt is going to go up. It's just a matter of how you do it. The republican trick of lowering taxes further still just doesn't make sense. We are too far to the right of the Laffer curve, revenues too low and taxes already low. Bush tax cuts did not help. More tax cuts won't help.
PICK3
New member
shovel ready FTW!
mrplunkey
New member
So using your logic, Reagan didn't have a choice to deficit spend either after Carter's debacle.
But Reagan left us with low unemployment and huge economic growth.
Obama is leaving us in ruins. The service sector will bounce back someday, because those happy meals aren't going to assemble themselves. But a vast number of the good jobs, millions of them (particularly in manufacturing), are gone for good.
PICK3
New member
Romney has a plan!
Pauly has a plan! Cut it all.
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