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View Full Version : THE OBAMA-GOP DEBT CEILING WAR OF 2011


Rick
07-18-2011, 02:31 PM
THE FOLLOWING IS A BLOG DISPUTE ABOUT THE OBAMA/GOP DEBT CEILING DISPUTE (7-17-2011) WHICH I PICKED UP ON THE NET. THIS IS CLASSIC and I hope informative to anybody who cares to read this:

Chris 1 day ago in reply to Aswamper

What a bunch of crap! President Obama offered the Republicans a plan that was 83% spending cuts and 17% revenue increases, and those a%%holes were too dumb to take it. Even sensible Republicans understand that the this is a once-in-a-generation opportunity to do something about the long-run deficit problem, if only the Republicans would negotiate like grown-ups.

And Eric Cantor is a complete hypocrite. He complains about how dangerous the deficit is, but he is also fighting against drug discounts as part of the debt deal because his Phrma benefactors don't like it. And he supported a 90% punitive tax rate on wall street bonuses back in 2009 -- pretty strange given his stubborn refusal to consider any increases in revenue now. That guy is a joke!

The country is gonna blame you tea-party idiots if this thing falls apart -- every poll shows it!
!

DOCTORLOVE 10 hours ago in reply to Chris

Get your facts straight Chris.

"Total Obama cuts on table in 2012: $2 billion" "Leaders on both sides had said that was the only way they would be able to strike a deal" See:
http://www.washingtontimes.com...

All that is confirmed is, to demonstrate how serious he is, Obama has offered to put on the table for fiscal year 2012 spending cuts totaling (stand well back now) $2 billion. That would be a lot in, say, Slovenia, Nigeria or Azerbaijan. Once upon a time it
would have been a lot even in Washington. But today $2 billion is what the US borrows every 10 hours. In other words, in less time than he spends sitting across the table negotiating his $2 billion cut, he's already borrowed it all back. A negotiation with Obama is literally not worth the time.

The issues of spending and taxes should be decoupled. The spending crisis is what's going on and demands attention now; it's because of out-of-control spending that we are up against the debt ceiling.Taxes—whether to raise them on the wealthy, whether to reform the tax code and how—can't be satisfyingly dealt with in the next few weeks. It is gamesmanship on the part of the White House to obscure the central crisis by focusing on a secondary one. The American people have thoughts and views on taxes, and in no way is it certain that this issue will always favor the Republicans. There's an election in 2012, we can argue it through from now to then.

Obama went into enough-is-enough mode during White House talks this week, warning Eric Cantor not to call his bluff, and ended the meeting saying: "Can you imagine Ronald Reagan sitting here?" I'm glad Reagan is Obama's model for how presidents should comport themselves, but he should know Reagan never tried to scare people into doing things his way. Instead he tried to encourage support. When locked in battle with a Democratic Congress he didn't go on TV and make threats. He didn't say, "Congress needs to know we must rebuild our defense system, and if they don't, your children will die in a fiery hale of Soviet bullets."

That was not Reagan's style. That is not the style of any president in 235 years, but that is exactly what Obama was doing when he told CBS's Scott Pelley that he isn't sure there will be "money in the coffers" to send out Social Security checks. Soon he may be saying there won't be money in the coffers to let students return to college or to pay servicemen, or inspect agricultural products, which would destroy the economies of many states ... oh, my mistake, he threatened that today.Grow up Chris. The child in the room, who needs to eat his peas and take off his band-aid, is Obama. And America needs for adults, who should know better, to stop supporting our child president when he throws temper tantrums.You may be right that "the country is gonna blame you tea-party idiots if this thing falls apart" (Obama certainly seems to think so, and appears willing to default as a result) but you are lying when you say that "every poll shows it", because not a single one does.

Finally, it is undisputed that, at one point, the Biden group had agreed to $2.4 Trillion (that is with a T ... or 2,400 times $2.0 Billion, for the numerically illiterate) in spending cuts with no tax increases. Then the president, the "Born Again" debt hawk, took control, and the only thing now on the table is the aforementioned $2 Billion for F/Y 2012.

This is the same moron who put in place a $1 Trillion Health Care Bill, which has nearly $0.8 Trillion in red ink (with generous CBO scoring), AFTER stripping Medicare of many $Trillions (which will destroy the program), and who has increased discretionary domestic spending by 84% in two years. Obama's only "on the record" budget called for (according to CBO scoring) $46 Trillion in spending ( that is $46,000 Billion) over the next 10 years, adding $12 Trillion (that is $12,000 Billion) to the public debt of the United States, currently at $14.5 Trillion, (that is $14,500 Billion), even with ridiculous economic projections of 4.5% annual growth in GDP, which are patently not possible with Obama's growth strangling economic policies. More realistic GDP growth projections add another $3 Trillion to that debt burden, for a total debt of $29.5 Trillion (that is $29,500 Billion), or almost 200% of GDP by 2021. Greek debt is only projected to be 161% of GDP in 2012. Do you think the EU will bail us out when we hit 200%, or perhaps the Chinese.

$29.5 Trillion ($29,500 Billion) is more than 500 TIMES BILL GATES COMBINED NET WORTH, and more than the COMBINED NET WORTH of the 2000 WORLDS wealthiest people. The top 1% of American wage earners pay 40% of all taxes. The top 40% of all American wage earners pay 99% of all taxes. Still think "revenue increases" of $1 Trillion, even combined with $2.4 Trillion in cost cutting, which the President said yesterday was too much, can possibly get anywhere near solving this problem? If you do then you are one of the "numerically illiterate" I have been trying to help with the illustrations above. Or, perhaps you are just plain stupid.

Obama later called for "a clean debt ceiling increase" (i.e.; no deficit reduction). When that failed miserably with the public, he became the "Born Again" debt hawk. However, the (almost meaningless) $2.4 Trillion in cuts initially identified by the Biden Group, have shrunk to $2 Billion (or $0.002 Trillion, for the numerically illiterate). And " Eric Cantor is a complete hypocrite". Give it a rest.

You, and apparently the president, are not glued into the fiscal reality that our country is in grave economic danger, and are trying to pass of this increase in our debt ceiling as solving all of our problems. If we raise the debt ceiling by $2,5 Trillion, and offset spending by $2.5 Trillion, it will not even be a small down payment on solving this fiscal crisis. There is no doubt that we will need to increase revenues to solve our problems going forward, but that involves a complicated analysis of tax policy that cannot possibly be completed in a few weeks. Cutting spending (costs) is what every business (which actually survives) does immediately when faced with insolvency. They worry about revenue growth when they have actually survived to live another day.

The President apparently does not know this (and there is nothing in his background to suggest that he might), and you, Chris, obviously do not either. Let me guess, you have never employed a single person in you life have you? Were you a "Community Activist" before you got a real job?

I say that, "the President apparently does not know" this because I am being kind. I actually believe that he does know better, but that he would rather be a two term president of a failed United States (which knows it's place in the world), than a one, (or even two) term president of a United States that continues to be the leader of the world. It is certainly consistent with the beliefs he expressed in "Dreams from My Father: A Story of Race and Inheritance". For example, "I ceased to advertise my mother's race at the age of 12 or 13, when I began to suspect that by doing so I was ingratiating myself to whites.", and "I found a solace in nursing a pervasive sense of grievance and animosity against my mother's race.", and "There was something about him that made me wary, a little too sure of himself, maybe. And white.", and "I never emulate white men and brown men whose fates didn't speak to my own. It was into my father's image, the black man, son of Africa, that I'd packed all the attributes I sought in myself , the attributes of Martin and Malcolm, DuBois and Mandela."

The beauty of our country, the United States of America, has always been hinged to its basic belief in freedom and justice for all it CITIZENS. Over the years we the people have tried to fine tune our beliefs for the betterment of all people, however, some of the fine tuning has led us down the wrong path. In the 40's and 50's (many of you weren't born yet) many of us were deeply disturbed at the dual society which existed in America and worked hard to make freedom and opportunity equal for all races and religions in this country. However, some people because of "false guilt" have carried things too far. Equality in education, pay and opportunity, YES. Free housing, free healthcare, free education, free everything was never a part of the free and equal package. President Obama was elected to represent the whole country equally but happens to represent the same people he supported in Chicago when he was a "community organizer". Spending is only a part of Obama's problems because his real problem has been about how, who and what he is spending the money on. HAMP was an insult to all Americans who lost their jobs and incomes to the big banks who caused the housing bust. Obama gave the banks the power to arrange and approve modifications, hence we still have a major housing problem, a down real estate market because Obama did not have the good sense to properly deal with the foreclosure problem and the banks who cause it.

The bank bailout started by Bush and completed by Obama was the wrong thing to do (why reward those who created the problems?) so why didn't Obama stop it? General Motors bailout was wrong and why didn't he see this. The healthcare bill was a thoughtless combination and abomination of earmarks and bad decisions with no thought at all about how to bring down the true costs of healthcare, rather than give it away free to those who do not contribute to it. President Obama looks at U.S. Immigration as racist because racism is what is always on President Obama's mind since he is the biggest reverse racist I have ever witnessed. In my opinion President Obama is a CLUELESS NITWIT and should resign if he really loves this country. In the meantime, if you think times are bad now, MASSIVE INFLATION and HARDER TIMES are just around the corner, so buy some gold, diamonds and silver. Store some emergency food, water, medical, energy and self defense provisions while your at it. YOU WILL BE GLAD YOU DID.