7.11.2011

Tired Head Warning: Debt Ceiling Post


I know some of you will eat this stuff up, so I'll post it.  If I understand it correctly (which is highly, highly suspect), these are the ground/political rules:

  • The U.S. has, or soon will, reach our legal debt ceiling which means that the U.S. can no longer borrow money.
  • The Democrats don't have any problem raising the debt ceiling.
  • Republican would agree to raise the debt ceiling but only if there was a budget cut equal to the raise. 
  • The Tea Partiers will accept the Republican position but if they had it their way they wouldn't raise the ceiling under any circumstances.
  • If the ceiling isn't raised, the U.S. can't borrow money to  make payments on its current debts meaning that debt could go into default. If the U.S. debt goes into default, we've got Armageddon. 
  • In actuality, the U.S. wouldn't have to default on its debt but could instead not fund part of its everyday budget.  
  • House Speaker John Boehner wants to stand his ground but doesn't want the President to make him look like the bad guy if this gets nasty.
Like I said, the Most Trusted Source In News is back in the States. 



36 comments:

Anonymous said...

I'm glad you explained it for me. I've been watching this crap on the news all day and have no idea what's going on.

BTW... if you voted for Obama to prove you're not racist, vote against him in 2012 to prove you're not an idiot.

Anonymous said...

Let me quote BHO:
"Elections have consequences"

Well the Republican sweep in 2010 came from their promise not to raise taxes and to bring the deficit under control. As strange as the concept may seem to Democrats, the Republicans are now keeping their word.

So now we can either eat our peas or eat our young

wordkyle said...

Obama and the Democrats propose a deal which contains both tax increases and spending cuts. In 1982 Reagan agreed to a deal with Congressional Democrats -- $3 in spending cuts for every $1 Congress raised in tax increases. He later called this deal the biggest mistake of his Presidency. Democrats imposed the tax increases they wanted, but broke their promise and failed to implement the spending cuts. Reagan remarked, “I’m still waiting on those $3 of spending cuts I was promised by Congress.”

The current crop of Democrats has done nothing to show that they are more trustworthy than their predecessors. History shows us that Democrats will say whatever it takes to get their tax increases, so good faith negotiations with them are impossible. If a deal with tax increases is the only deal that Obama will sign, then he is the one holding American taxpayers hostage.

Anonymous said...

Republicans raised the debt limit five times under Bush. Boehner voted yes for it the whole time.

wordkyle's head asp[lodes in 3, 2, ...

Rage

Anonymous said...

Dat one nutty nigguh right there.

Anonymous said...

Wasn't it Obammy that didn't want to extend the debt ceiling under Bush? And didn't he also say in the past that you shouldn't raise taxes during a recession? This guy is the best I've ever seen at talking out of both sides of his ass. Skippy, while you are eating your peas and drinking your Kool Aid, just remember that not raising the ceiling will NOT cause Armegeddon. That's just a scare tactic that he uses for everything he tries to shove down our throats.

Anonymous said...

I'm Rage. I'm a liberal weenie and I'm retarded(but then I repeat myself).

Anonymous said...

Rage, And the liberal weenies voted against it.

Anonymous said...

On December 21 2012, we will all reach our debt ceiling.

Anonymous said...

STOP ALL OF THIS SPENDING--IT'S GETTING US NOWHERE EXCEPT FARTHER IN DEBT!

Anonymous said...

I've got a shotgun a rifle, and a four wheel drive. A country boy can survive...



DOUBLE FAKE Hank Jr.

Anonymous said...

Why can't he just end welfare and make all the niggers and spics get jobs, or starve to death? I don't give a shit either way.

Anonymous said...

We are supposed to eat peas but Big Butt Michelle continues to eat fries and burgers.

Anonymous said...

People forget that this democratic republic was built on compromise. Compromise shaped the Declaration of Independence, the Articles of Confederation, and finally - the Constitution. Neither side gets everything it wants. Yes, the debt is too darn high. Surprising when considering we are paying down two active war fronts, a massive defense budget, and Social Security/Medicare/Medicaid? No, not surprising at all. Do we needs cuts and a tax increase to make things work long-term? Probably. Cuts alone are not enough, unless folks are willing to scrap a couple of aircraft carrier battlegroups AND tell grandma that the nursing home will be turning her out next week. It is time for our elected leaders of all persuasions to put on their big boy pants and get to governing. That means, compromise and raise the ceiling.

My Other Brother Darryl

PS - For you Tea Party followers who say screw the ceiling and hold the debt limit hard and fast, read your history on when people & nations lose confidence in a government's ability to conduct business. See Weimar Republic.

Anonymous said...

why do white people hate niggers so much..?

Anonymous said...

Think it is "eat our peas and pass gas"

Anonymous said...

5:22 Said Big Butt Michelle. That there is true and funny.

Anonymous said...

So now our government is in the same boat with most of debt heavy americans. How's that feel when you can't pay your bills and buy food for your kids! Obammy don't care, nor does he understand.

wordkyle said...

534 - Let's say your house is on fire. The neighbor comes over and offers to pour gasoline on the flames for you. You insist that water is the better solution. How much gasoline do you let him pour -- for the sake of "compromise" -- before you decide it's not working? "Compromise" is a concept urged by those who are about to lose an argument. Where was the concept of compromise when the Democrat Congress passed the Stimulus bill and Obamacare? Do you remember Obama's words of compromise to Republicans in January of 2009? Quote: "I won."

Obama himself famously said, "The last thing you want to do is raise taxes in the middle of a recession." He even explained why that is so. Now, for political purposes, he argues that Congress must do that very thing. How many times does Obama get a pass on talking out of both sides of his mouth?

Anonymous said...

Wordy wordy wordy....
Let's leave reason and common sense out of this.

Anonymous said...

John F. Kennedy, Nov. 20, 1962, president's news conference -

"It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."

John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964 -

"Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government."

I did not know that John Kennedy was a Republician!

Anonymous said...

I wish there was an easy answer to this problem. The folks in charge of this county promised more then anybody could ever pay for. In order to fund the promises they got into bed with large corporations because they are the only ones capable of paying the fares. The corporations need to make bigger and bigger profits so they can continue to grow and increase in value. The only thing the middle class has left is the ability to save money via 401k plans. They have to support the large corps because they are the only ones left in this county that can compete! They wipe out our jobs buying abroad to sell it back to us at a cheaper price. This elimates good paying jobs and leaves everybody that want to work suffering in the service sector trying survive on min wage. The whole time we have still trying to pay for promises made to the folks that retired after paying into a system that was destroyed by politicians and corporations doing what they do best. Cheaper, faster, better, overseas! Just some ramblings from a hick!

Anonymous said...

I think we should cut all taxes to zero. We would never have another deficit and everyone would have a job.

Anonymous said...

Jfk??

I think us here in "nut country" rid ourselves of that little problem.
Take your jfk references back to Massachusetts.

Anonymous said...

"You can't have any pudding if you don't beat your meat." DF Pink Floyd

Anonymous said...

10:07 Big corporations are not the reason we don't have good jobs; our problem is we are the biggest debt nation on earth borrowing $.40of every dollar spent!

If Repbulicans allow the debt ceiling to be raised, borrowing and spending will continue until our economy crashes around us.

Do we have better jobs when private free market enterprise has less government regulation and a lower tax rate? Yes.

If you want bigger government, continued high rate of unemployment, inflation and low wages, keep borrowing and spending.

Our only chance is to make sure we tell Washington to not raise the debt ceiling.

Anonymous said...

praise to obamma.

Anonymous said...

Black people.

Bacon said...

I am not very well educated in politics. I own a house, two cars and various other toys. I make this amount $$ if i spend $$$ I think i lose. Is it that simple????

Anonymous said...

I like turtles

Anonymous said...

"One is the loneliest number that you'll ever do"

Anonymous said...

What we need is to fire the folks in Washington. If my company has too many people making bad decisions and costing the company money, then somebody is gonna loose a job!

Anonymous said...

I hate it when people loose jobs.

I hate loose nuts when they are supposed to be tight.

I do like loose women, however.

Jack Daniels said...

Eat our peas?

EAT THIS!

Anonymous said...

Soon or later you have to pay the fiddler.No one ever gave a politican more money than he could piss off'saving some of it for himself of course.Don't raise the taxes, cut all of the stupid tax breaks.The tem acre farmers included.Go to www.farmewg/texas.farm and see what some people in wise county get for not doind anything.It's a big mostly Dem giveway.

Anonymous said...

"I think us here in "nut country" rid ourselves of that little problem."
So, you were the one on the grassy knoll. You Patriot.