Ask Me Help Desk - Debt limit

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Originally Posted by Wondergirl

But that's not his responsibility, to influence what plan the House comes up with. The members of the House are fully cognizant of what needs to be done, so they hope their well-crafted plan passes the Senate.

Why should Obama have a plan? That's not his job to create one. It's the job of the Congress that represents the American citizens.

Are you an apologist for this man or do you just have to argue with me?

This is apparently the first president in US history not expected to actually lead or produce the alleged plans he has for the country. How ridiculous, Carney even called it the Obama-Boehner plan.

Quote:

“There is no plan that has been offered, certainly in the last several months, about which more detail is known or has been specified than the Obama-Boehner plan.

If the administration is going to attach his name to something they'd better darn well produce the plan. So where's the plan?

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Originally Posted by speechlesstx

So where's the plan?

Ask the TP-iers in the House.

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Originally Posted by Wondergirl

Ask the TP-iers in the House.

Totally irrelevant to the point. The House already passed a plan called Cut, Cap and Balance.

Where is the Obama plan? I means besides a Twitter spamfest.

Quote:

Originally Posted by speechlesstx

Where is the Obama plan?

Obama isn't in the House. He's waiting to sign something. His desk is the final stop, not the first step.

House -> Senate -> President

Yeah put all your problems on the Prez, so you can blame him yet again for what's not being done.

So far every plan for the house has been thoroughly rejected. With or without a vote. They have just passed yet another Tea Party bill in the house, so the process drags on through the weekend. The ball is in the Senates court. Then it goes back to the HOUSE again. You know the rules about how we make laws.

And everyone knows what the plan is from the White House, and we all know who doesn't like it. We all know what the problem is, and the initials are TP. Don't believe me? Wait for the republican primaries. Wait until the house gets its fresh bill back, hehehe.

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Originally Posted by talaniman

Yeah put all your problems on the Prez, so you can blame him yet again for whats not being done.

So far every plan for the house has been thoroughly rejected. With or without a vote. They have just passed yet another Tea Party bill in the house, so the process drags on thru the weekend. The ball is in the Senates court. Then it goes back to the HOUSE again. You know the rules about how we make laws.

And everyone knows what the plan is from the White House, and we all know who doesn't like it. We all know what the problem is, and the initials are TP. Don't believe me? Wait for the republican primaries. Wait until the house gets its fresh bill back, hehehe.

There is no question that the Republicans are shooting themselves in the foot - and the kneecap, and all points north.

Quote:

Originally Posted by speechlesstx

Totally irrelevant to the point. The House already passed a plan called Cut, Cap and Balance.

Hello again, Steve:

Nooo, not really. They made a POLITICAL statement... The bill they passed had NO chance of becoming law, so it's NOT governing, if that's what you're suggesting... It's actually demagoguery.

Both Tom and I agree to term limits... Yet, they wouldn't BE the solution to, say, an argument over whether we should build an aircraft carrier. Requiring that we pass a balanced budget amendment as a CONDITION to raising the debt ceiling is just as ridiculous.

excon

True... Reid said Bonehead plan #3 was DOA .So why pass it ? Because it's all part of the plan that Speaker Bonehead ,Reid ,McConnell ,and the President have concocted .
Bonehead can't do the pass the Dem plan without the political cover .

So now it got passed ,the pingpong game begins.. The Reid plan gets passed in the Senate .It goes back to the House... and so on... Bonehead eventually tells his caucus "sorry ...it's the best we can do since we only own a half of a third of the government .....but the good news is that we get to go through the Kabuki dance again in the near future. "
Then the President takes credit for leading the country out of the brink.

S&P downgrades the US rating because it does not have a sufficiently serious plan to reduce the debt level . Turns out the markets were more afraid of a debt ceiling increase than a temporary shutdown of the government .

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Originally Posted by tomder55

S&P downgrades the US rating because it does not have a sufficiently serious plan to reduce the debt level . Turns out the markets were more afraid of a debt ceiling increase than a temporary shutdown of the government .

And you know Tom this is true because the market cannot continue to absorb the debt being issued and finance a commerce led recovery at the same time. Part of the problem is the runaway government debt is soaking up liquidity in the economy. Why wouldn't you buy bonds that offer you some return at a time when other investments offer you a poorer return. No return in property, little return in stocks which go up and down in price like a yooyoo, and no employment growth. If you want the economy to bounce interest rates must rise so investors get their return. The Fed has the equation all wrong negative real interest rates help no one and fuel this debt position. S&P calculate a ratio called times interest earned and when you stack that ratio of the interest bill up against revenue it doesn't equal AAA

Yup the rating services downgrade will be the 1st market correction that will actually work towards correcting the poor policies pursued since the 2nd Great Depression began(which is headed ever closer to double dip).

Unfortunately, the first ones to feel the results of a downgrade in ratings, and the rise in interests are the states. Then the cities. Ever try to grow the economy with nobody working? Never been done in history. All of this to keep taxes for the rich. That's not how Reagan dealt with his recession, that's not how Clinton dealt with his, they both raised taxes during a recession and grew out of them, but no way do low information rookie politicians understand this.

Heck, you can't balance a budget without raising taxes! Somebody please wake those conservatives up that think Wall street will bail you out for free! They don't have OUR interests in mind, just theirs. Which is what all this is about any way.We agree Tom, a double dip recession looms very large.

Hello again,

Downgrade = self inflicted wound. There ain't too much you can say about that...

I knew a guy once who LOVED carrying his .32 in his front pocket... He shot his right nut off. There ain't too much you can say about that.

excon

Quote:

Originally Posted by excon

Hello again,

Downgrade = self inflicted wound. There ain't too much you can say about that...

I knew a guy once who LOVED carrying his .32 in his front pocket... He shot his right nut off. There ain't too much you can say about that.

excon

Must have been a Tea Partier. That's all I can say about that.

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That's not how Reagan dealt with his recession, that's not how Clinton dealt with his, they both raised taxes during a recession

Reagan ended the Carter recession with tax cuts . The tax hikes that happened during his term was a result of the phoney deals the Dems have made in the past ,and are trying to do again. Immediate tax hikes in exchange for spending cuts in the future. The problem is that the spending cuts never happen. The government ever spends more ;ever grows more ;ever increases the debt the children of the nation owe.

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Downgrade = self inflicted wound. There ain't too much you can say about that...

Yup... the weapon used in the self inflicting wound is QE2 ,stimulus spending ,ever increasing debt... currently at 100% of GDP . Going on a budget and cutting your spending when you are overextended is the correct solution for individuals ,families ,and goverments.

What happens next is the Reid plan goes to the Senate... it can't survive fillibuster ;so a Reid /McConnell plan gets passed(the plan Reid ,McConnell ,Bonehead ,and Obama have agreed upon behind closed doors ).
After a game of ping pong between the 2 houses ;Bonehead and Eric Cancer... ooops I mean Cantor... whip enough to eek out a 1 or 2 vote majority. This time a could Dems cross over so they can claim it's a bipartisan vote. (about the same number of Repubics who change their vote to negative... these will be the Repubics who are facing a tough reelection run) .
The President signs it somewhere around Aug. 7-9 (the new artificial deadline) ,and declares victory against those rascally tea partiers.

I probably will not be near a wifi location throughout this process because I'll be in a cabin in an undisclosed location ;disconnected from the cyber world... If I get a chance I'll sign in and comment on my bold prediction .

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Originally Posted by tomder55

If I get a chance I'll sign in and comment on my bold prediction .

How exciting for us!!

No need for ankle biters to respond.

I'll leave the pompous stuff to you, oh bold one.

Quote:

Originally Posted by tomder55

Yup ...the weapon used in the self inflicting wound is QE2 ,stimulus spending ,ever increasing debt..

Hello again, tom:

So, you don't see a connection between the downgrade and the Tea Party intransigence? Really? You DO need some time off.

excon