Raising the US debt ceiling

[Shady]

The talking heads and sophisticates are now refering to Obama as "not a serious person" _ This really means that he is of no real substance other than putting on a nice show during election campaigns...and that is it!

Very true. In fact, he's so unserious, the budget he proposed was voted down 97 - 0 in the senate. 97 to 0!

It was the precursor to the present debt ceiling talks.

Obama Budget to Produce $9.5 Trillion Deficit: CBO

The estimate from the nonpartisan Congressional Budget Office says that if Obama's February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years — an average of almost $1 trillion a year.

CNBC

[punked]

Very true. In fact, he's so unserious, the budget he proposed was voted down 97 - 0 in the senate. 97 to 0!

It was the precursor to the present debt ceiling talks.

And Ryan's budget only adds 8 trillion oh yeah again you forgot to mention the Republican alternative is almost the same thing. Go figure dishonest Shady.

BTW The CBO also just came out with a study that says over HALF the current deficit is from the Bush tax cuts. Why not post that to Shady? Didn't fit into your crazy narrative. Facts get in Shadys way lies are so much better for him. Waiting for you to say you are sorry still.

Edited July 10, 2011 by punked

[maple_leafs182]

Obama won't be president in ten years, he has no say in the budget then...ten year plan, that is non sense.

If you want to listen to some people who actually want to cut the debt and spending listen to both Ron and Rand Paul.

[punked]

Obama won't be president in ten years, he has no say in the budget then...ten year plan, that is non sense.

If you want to listen to some people who actually want to cut the debt and spending listen to both Ron and Rand Paul.

You mean someone who wants to stop US economic growth. The gold standard which both of them preach would do just that.

[Shady]

And Ryan's budget only adds 8 trillion oh yeah again you forgot to mention the Republican alternative is almost the same thing. Go figure dishonest Shady.

More lies from you. The Ryan plan ads debt short term, and then completely eliminates it. There is no Democrat plan to eliminate the debt. Hell, it's been almost 3 years and they still haven't released a budget from the senate. And they refused to do so in the house as well when they had control. The first time in like 30 years. Heckuva job!

BTW The CBO also just came out with a study that says over HALF the current deficit is from the Bush tax cuts. Why not post that to Shady? Didn't fit into your crazy narrative.

Cause that's another lie. Can you seriously post anything that isn't a lie in this thread? Or at least back it up? For God's sake.

[Shady]

You mean someone who wants to stop US economic growth. The gold standard which both of them preach would do just that.

Obama's pretty much put an end to economic growth anyways. Pathetic job growth for the last several months. That's quite a stimulus package he put together. Unfortunately, it's was a package of shit.

[punked]

More lies from you. The Ryan plan ads debt short term, and then completely eliminates it. There is no Democrat plan to eliminate the debt. Hell, it's been almost 3 years and they still haven't released a budget from the senate. And they refused to do so in the house as well when they had control. The first time in like 30 years. Heckuva job!

Cause that's another lie. Can you seriously post anything that isn't a lie in this thread? Or at least back it up? For God's sake.

According to the Congressional Budget Office, the bipartisan federal agency that provides economic data to Congress, more than half the current deficit is attributed to the tax cuts during the presidency of George W. Bush and the two wars that were financed on borrowed dollars during the same time period.

It's not health care legislation, it's not TARP, nor is it the stimulus package -- the troika with which most seem obsessed -- it's the tax cuts and wars that many who sit at the table negotiating with the president supported, but have irresponsibly drawn a line in the sand in opposition to any revenue increases.

http://www.mercurynews.com/columns/ci_18440817

PS the Ryan Plan adds just as much deficit as the Obama plan does and is "balanced" the same time. In fact they have almost the exact same debt to GDP ratio through the next 10 years. The difference? Ryan's plan cuts SS and Medicare with a huge knife while also cutting revenues in the form of taxes while Obama doesn't cut those taxes and has the revenue to spend. You are being dishonest pretending the GOP budget adds any less to the debt or "balances" the budget in any meaningful way.

As economist Veronique de Rugy says "If you can't make a budget look balanced 10 years out then just aren't really trying." He said referring to how Ryans plan sucked just as much as Obama's plan btw. Shady don't you think it is time for you live in reality?

And PS, looks like the GOP walked away today from the table because a 4 trillion dollar deal to close the deficit gap was "Too big". They only want a 2 trillion dollar deal because they might be able to sell that and get the votes. Just like I said yesterday when you called me a lair. Time for you to say you are sorry for being wrong so much.

Edited July 10, 2011 by punked

[Shady]

PS the Ryan Plan adds just as much deficit as the Obama plan does

No it doesn't. Once again, another lie.

The difference? Ryan's plan cuts SS and Medicare with a huge knife while also cutting revenues in the form of taxes while Obama doesn't cut those taxes and has the revenue to spend. You are being dishonest pretending the GOP budget adds any less to the debt or "balances" the budget in any meaningful way.

More lies. Obama hasn't proposed any official reforms to social security and medicare. You're referring to an non-existent plan. Only Ryan has a plan on paper to reform those programs. For people under the age of 55. Nobody over that age will see a differnce at all. Stop the lying.

He said referring to how Ryans plan sucked just as much as Obama's plan btw. Shady don't you think it is time for you live in reality?

Again, you're referring to a non-existent Obama plan. There is no Obama plan to elminiate the debt. The Ryan plan completely elminates the debt by something like 2040. That seems like a pretty big difference to me.

And PS, looks like the GOP walked away today from the table because a 4 trillion dollar deal to close the deficit gap was "Too big".

I'm beginning to think that you're a pathological liar. Republicans walked away because Obama wants to raise taxes by some 2 trillion dollars, instead of actually cutting spending.

Anyways, even your own link proves you to be a liar. You said that half of the current deficit is all because of Bush's tax cuts. Your link says otherwise. You left out the spending on the two wars. One of which Obama has escalated. Regardless, ending the Bush tax cuts on the top 1% would garner $70 billion dollars per year. The deficit is $1.5 trillion. You do the math.

[pinko]

Obama shouldn't blink. He also shouldn't undermine medicare and social security. The Bush era tax cuts should be allowed to lapse.

[bush_cheney2004]

Obama shouldn't blink. He also shouldn't undermine medicare and social security. The Bush era tax cuts should be allowed to lapse.

But President Obama did blink....he extended "Bush era tax cuts" for two more years.

[pinko]

But President Obama did blink....he extended "Bush era tax cuts" for two more years.

That he did but he will have another opportunity down the road. Maybe the USA is headed the way of Argentina.

[bush_cheney2004]

That he did but he will have another opportunity down the road. Maybe the USA is headed the way of Argentina.

...or Canada in the 1990's.

[pinko]

...or Canada in the 1990's.

Yes but Canada didn't renege on debt.

[bush_cheney2004]

Yes but Canada didn't renege on debt.

Neither has the United States, which actually loaned Canadian banks TARP money to avoid default.

[pinko]

Neither has the United States, which actually loaned Canadian banks TARP money to avoid default.

Could be but it appears the current political dance in your country suggests you may be heading to default.

[bush_cheney2004]

Could be but it appears the current political dance in your country suggests you may be heading to default.

OK...please let us all know when it actually happens.

[pinko]

OK...please let us all know when it actually happens.

I would expect that will become apparent by August 2, 2011.

[Guest American Woman]

I would expect that will become apparent by August 2, 2011.

Why?

[pinko]

Why?

Because that is the date the debt ceiling must be renewed.

[Guest American Woman]

Because that is the date the debt ceiling must be renewed.

I meant why do you assume the U.S. will default on its loans?

[pinko]

I meant why do you assume the U.S. will default on its loans?

I have no idea whether it will or not. All I am saying is that is the drop dead date.

[Guest American Woman]

I have no idea whether it will or not. All I am saying is that is the drop dead date.

You also said "Canada didn't renege on debt," which suggests that you believe the U.S. did/will, so I appreciate the clarification.

[pinko]

You also said "Canada didn't renege on debt," which suggests that you believe the U.S. did/will, so I appreciate the clarification.

No problem. If the USA reneges on the debt that will have worldwide ramifications and those ramifications will be felt in Canada.

[bush_cheney2004]

I have no idea whether it will or not. All I am saying is that is the drop dead date.

Not true technically....defaults can be avoided by defunding programs and slowing outlays to service the debt.

[Guest American Woman]

No problem. If the USA reneges on the debt that will have worldwide ramifications and those ramifications will be felt in Canada.

There's no doubt about that - what you say is true. I just don't see it happening. As I've pointed out before, both of our countries have had economic ebbs and tides throughout our history, and we've always weathered them.