$2.4 Trillion Would Be Largest Debt-Limit Increase in U.S. History

Forthright manner, the legislative body has sold itself like a cheap whore in a mining town and our President are Tyne pimps.
 
Rana said:
What exactly did you expect to happen? When politicians are in bed with corporations, what did you believe the outcome would be? Fairness and bounty for all?
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?????.....I'm surprised to hear you say Obama is in bed with corporations.......
 
Rana said:
Not possible, Bush and his Congress already had it in the ditch, in fact, we have been driving down the wrong side of the road since Eisenhower.
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Was the economy bad in 2006? As I remember it, the economy started to go down hill in 2007. How can you claim it was "Bush and his congress"?

Is President Obama responsible for any negativity in the economy?
 
Bfgrn said:
Here is an analogy even a simple minded right winger 'might' understand.

President Obama was handed the keys to a car named econ(omy). His predecessor was handed the same keys 8 years earlier. His predecessor got a car in absolutely mint condition, not a scratch, dent or blemish. The tank was full, the fluids were pristine and the car was clean and polished.
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LMAO.... so the economy wasn't in a recession when Bush took office? The so called imaginary budget surpluses.... show us which year they were used to pay down our debt year over fiscal year?

Note to moron: The tech/telecom/biotech/internet bubble had burst, the stock market was in the midst of a 3 year correction, Bush was handed a recession, Glass Steagall had been repealed by his predeccesor. Try reading something other than that which your masters give you.

When Obama got the keys, the car had been rammed into a tree, left in a ditch and totaled. There was not a panel that was not dented, scratched or damaged. The tank was empty, the fluids were sludge black and nothing worked, not even the cigarette lighter.
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Obama quickly proceeded to dig the ditch deeper for he felt the car wasn't deep enough in the ditch.

Now, President Obama would have loved to just add his own brand of gas & oil and driven it down the highway system built in the 50's. But with the trashed shape it was in he wishes he could have traded it in for a new car, but the country only has ONE. So he will have to spend more than it is worth to fix it. Plus, his predecessor's buddies don't want Obama to fix the car and get credit for restoring it, so every chance they get they take a sledgehammer to the car.
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This is why with a supermajority in both houses Obama accomplished what? The Dems in Congress did what? They couldn't even pass a budget. Its no wonder we ran up into the debt ceiling so fast. The TWO largest raises to the debt ceiling in our history and STILL Obama wants to spend spend spend..... to steal Obama's favorite word.... UNPRECEDENTED.

I heard Ray McGovern, a retired CIA agent whose expertise was the old Soviet Union and the Eastern Bloc countries say the propaganda coming out of Fox News is at the same level as Pravda. But I suspect most Russians knew Pravda was propaganda.
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I heard you are a complete hack who tosses stupid shit like the above into conversations for no reason at all.
 
Superfreak said:
LMAO.... so the economy wasn't in a recession when Bush took office? The so called imaginary budget surpluses.... show us which year they were used to pay down our debt year over fiscal year?

Note to moron: The tech/telecom/biotech/internet bubble had burst, the stock market was in the midst of a 3 year correction, Bush was handed a recession, Glass Steagall had been repealed by his predeccesor. Try reading something other than that which your masters give you.



Obama quickly proceeded to dig the ditch deeper for he felt the car wasn't deep enough in the ditch.



This is why with a supermajority in both houses Obama accomplished what? The Dems in Congress did what? They couldn't even pass a budget. Its no wonder we ran up into the debt ceiling so fast. The TWO largest raises to the debt ceiling in our history and STILL Obama wants to spend spend spend..... to steal Obama's favorite word.... UNPRECEDENTED.



I heard you are a complete hack who tosses stupid shit like the above into conversations for no reason at all.
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If anyone is to blame for the financial meltdown it is Phil Gramm and his wife Wendy with the Commodity Futures Modernization Act unfortunately Clinton signed that one as well. I frankly cannot understand how legislators in the US are allowed to enable laws where there have a clear vested interest.

http://www.nytimes.com/2008/11/17/business/17grammside.html
 
tom prendergast said:
If anyone is to blame for the financial meltdown it is Phil Gramm and his wife Wendy with the Commodity Futures Modernization Act unfortunately Clinton signed that one as well. I frankly cannot understand how legislators in the US are allowed to enable laws where there have a clear vested interest.

http://www.nytimes.com/2008/11/17/business/17grammside.html
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There is a lot of blame to go around. The above certainly played a large role in it. My point to bfgrn was simply that there were large portions of deregulation that occurred PRIOR to Bush ever taking office. Both parties had a hand in that deregulation. Glass Steagall was repealed on a 90-8 vote in the Senate. 8 Dems voted against the repeal and two Reps 'Obama'ed' the vote.
 
tom prendergast said:
If anyone is to blame for the financial meltdown it is Phil Gramm and his wife Wendy with the Commodity Futures Modernization Act unfortunately Clinton signed that one as well. I frankly cannot understand how legislators in the US are allowed to enable laws where there have a clear vested interest.

http://www.nytimes.com/2008/11/17/business/17grammside.html
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If you think Gramm is the only person with personal interest in that deal do a little research on Sandy Weil and Citigroup and the treasury secretary Robert Rubin who was pushing Clinton to sign the deal and the benefits for both of them.
 
cawacko said:
If you think Gramm is the only person with personal interest in that deal do a little research on Sandy Weil and Citigroup and the treasury secretary Robert Rubin who was pushing Clinton to sign the deal and the benefits for both of them.
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So why aren't they serving time for blatant self interest?
 
tom prendergast said:
So why aren't they serving time for blatant self interest?
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Because everything Congress and the President does is in their self-interest. Usually it is to try and secure their re-elections but ultimately Congress and the President aren't making laws alone. Regarding Gramm both the House and the Senate had to pass his bill (the Senate did 90-8) and be signed by the President (a member of the opposite party at that) so there is no way to throw him in jail for proposing it when it had to go through that whole process to become law.
 
tom prendergast said:
So why aren't they serving time for blatant self interest?
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How are you supposed to write a law against that? It's all self interest, the problems arise when politicians put personal self gain above the gain of the state, but the gain of the state they serve IS in their best interest.
 
Superfreak said:
LMAO.... so the economy wasn't in a recession when Bush took office? The so called imaginary budget surpluses.... show us which year they were used to pay down our debt year over fiscal year?

Note to moron: The tech/telecom/biotech/internet bubble had burst, the stock market was in the midst of a 3 year correction, Bush was handed a recession, Glass Steagall had been repealed by his predeccesor. Try reading something other than that which your masters give you.



Obama quickly proceeded to dig the ditch deeper for he felt the car wasn't deep enough in the ditch.



This is why with a supermajority in both houses Obama accomplished what? The Dems in Congress did what? They couldn't even pass a budget. Its no wonder we ran up into the debt ceiling so fast. The TWO largest raises to the debt ceiling in our history and STILL Obama wants to spend spend spend..... to steal Obama's favorite word.... UNPRECEDENTED.



I heard you are a complete hack who tosses stupid shit like the above into conversations for no reason at all.
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Hey TURD brain...you have a right to your opinion, but not your own facts.

The Budget and Deficit Under Clinton

FederalDeficit(1).jpg


This chart, based on historical figures from the nonpartisan Congressional Budget Office, shows the total deficit or surplus for each fiscal year from 1990 through 2006. Keep in mind that fiscal years begin Oct. 1, so the first year that can be counted as a Clinton year is fiscal 1994. The appropriations bills for fiscal years 1990 through 1993 were signed by Bill Clinton’s predecessor, George H.W. Bush. Fiscal 2002 is the first for which President George W. Bush signed the appropriations bills, and the first to show the effect of his tax cuts.

Clinton's surpluses paid $452 billion toward the debt which was equal to about 12 percent of the existing public debt in 1997.

And HOW can Obama 'spend spend spend' when his 2012 budget plan would slash the deficit by $1.1 trillion over 10 years?
 
Bfgrn said:
Hey TURD brain...you have a right to your opinion, but not your own facts.

The Budget and Deficit Under Clinton

FederalDeficit(1).jpg


This chart, based on historical figures from the nonpartisan Congressional Budget Office, shows the total deficit or surplus for each fiscal year from 1990 through 2006. Keep in mind that fiscal years begin Oct. 1, so the first year that can be counted as a Clinton year is fiscal 1994. The appropriations bills for fiscal years 1990 through 1993 were signed by Bill Clinton’s predecessor, George H.W. Bush. Fiscal 2002 is the first for which President George W. Bush signed the appropriations bills, and the first to show the effect of his tax cuts.

Clinton's surpluses paid $452 billion toward the debt which was equal to about 12 percent of the existing public debt in 1997.
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Congratulations moron, you have cut and paste something which you clearly don't understand a thing about. The above is a chart of BUDGETS. BUDGETS are not ACTUAL results.

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm

The above link will help you educate yourself. Go to that and show us which fiscal year our national debt DECREASED from the prior year. Go ahead... we will wait....

If Clinton paid down the debt... it would actually GO DOWN.

And HOW can Obama 'spend spend spend' when his 2012 budget plan would slash the deficit by $1.1 trillion over 10 years?
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ROFLMAO.... seriously?

Well genius... if you are outspending revenue by over $1 Trillion per year and you 'slash the deficit' by $1.1 Trillion over 10 years, that means you are STILL outspending revenue by over $890B per year. Math is not really your strong suit is it?
 
In an economy with an inflating currency and a growing population, that's really not surprising. A better metric would be comparing the increase to GDP, since that's basically comparing debt to your ability to pay it. The current increases would probably still be high on the list, but it wouldn't look as dramatic.
 
Superfreak said:
Congratulations moron, you have cut and paste something which you clearly don't understand a thing about. The above is a chart of BUDGETS. BUDGETS are not ACTUAL results.

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm

The above link will help you educate yourself. Go to that and show us which fiscal year our national debt DECREASED from the prior year. Go ahead... we will wait....

If Clinton paid down the debt... it would actually GO DOWN.



ROFLMAO.... seriously?

Well genius... if you are outspending revenue by over $1 Trillion per year and you 'slash the deficit' by $1.1 Trillion over 10 years, that means you are STILL outspending revenue by over $890B per year. Math is not really your strong suit is it?
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I don't think the assumption is that the deficit is going to stay at 1 trillion a year for the decade. The recovery will help a lot, when it comes...
 
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