Obama speaking now, debt deal is made

[Bruno]

Temporary. Votes still to be made.

Must report deeper cuts by Thanksgiving.

[LibertyEagle]

surprise, surprise

[messana]

Those poor and thankless politicians work too hard on our behalf.

Our country is saved. :rolleyes:

[KramerDSP]

So...

Now that a compromise has been made, Ron can come out swinging against this. How will he go about it?

[devil21]

Havent seen a word about the amount the debt ceiling will be raised. Just trumpeting of the paltry $1T over 10 years.

[KramerDSP]

I saw it somewhere as 2.4 Trillion of a debt limit increase.

[Sola_Fide]

I can't stand his face anymore.

[Carehn]

You know, If we cut 1 dollar out of the budget then we would save 1 trillion dollars over the coarse of 1 trillion years. And if we plan on spending 5 bucks but then cut that we could save 5 trillion over the coarse of 1 trillion years and no one would even fill the pain.

Thats right boys. send me to washington and I'll create or save you all the money you want. :)

[liberalnurse]

I can't stand his face anymore.

Or his voice.

[awake]

I guess my only comment is so what? The "deal" both sides have agreed to is simply a political solution - everybody gets to look like they did something. The train is still rolling and the bridge is still out.

[Pauls' Revere]

Soooo, when does this limit get reached?

[devil21]

Soooo, when does this limit get reached?

It's projected to happen right after the swearing in of the 2012 presidential winner.

[Acala]

Soooo, when does this limit get reached?

The limit will be reached when the average wheelbarrow is not big enough to carry enough cash to buy a loaf of bread.

[rolle]

This is fun!!!!

We get to witness the end of an empire.

[flightlesskiwi]

You know, If we cut 1 dollar out of the budget then we would save 1 trillion dollars over the coarse of 1 trillion years. And if we plan on spending 5 bucks but then cut that we could save 5 trillion over the coarse of 1 trillion years and no one would even fill the pain.

Thats right boys. send me to washington and I'll create or save you all the money you want. :)

done.;)


The limit will be reached when the average wheelbarrow is not big enough to carry enough cash to buy a loaf of bread.

soon.:(:mad:

[LibertyEagle]

This is fun!!!!

We get to witness the end of an empire.

You have a very different definition of fun than I do. :(

[JoshLowry]

This is fun!!!!

We get to witness the end of an empire.

I imagine the people aboard the Titantic were not having a good time as it sank.

[QueenB4Liberty]

:( Do people really honestly think we can just keep raising the debt ceiling?

[nobody's_hero]

So...

Now that a compromise has been made, Ron can come out swinging against this. How will he go about it?

He needs to go on record saying what he knows will happen, and when it happens, he points to what he said and reminds people that he was the one saying it all along.

The drawback is if nothing happens (the establishment keeps it together with spit and chewing gum) before the 2012 elections, which is possible.

[nobody's_hero]

The limit will be reached when the average wheelbarrow is not big enough to carry enough cash to buy a loaf of bread.

Agreed, but I remember a man with a funny mustache coming along and promising people that they could put away their wheelbarrows. :(

I'm not sure the idiots who think that this will fail because "it was not big enough" will even care who they fall in line behind.

[QueenB4Liberty]

He needs to go on record saying what he knows will happen, and when it happens, he points to what he said and reminds people that he was the one saying it all along.

The drawback is if nothing happens (the establishment keeps it together with spit and chewing gum) before the 2012 elections, which is possible.

I'm sure they will. I mean, I would be optimistic, but then I'd probably have to lie.

[rolle]

You have a very different definition of fun than I do. :(

Sarcasm with some optimism. This country is like an alcoholic that needs to hit rock bottom before a recovery can happen.

Also, I see this as an opportunity for Ron. People are starting to wake up to the fact that the two parties are the same.

[Pauls' Revere]

Another thing. I haven't heard one word about how much interest we'll be paying (and for how long) just on the increase alone.

[coastie]

I can't stand his face anymore.


Ha, that made me think of this scene of Grandma's Boy:


http://www.youtube.com/watch?v=p-ho9L4Jazw


:D I love that movie

[tangent4ronpaul]

See the powerpoint - it explains the plan:

http://www.nytimes.com/interactive/2011/08/01/us/politics/20110801_BOEHNER_DEBT_FRAMEWORK.html

[Carehn]

I can't stand his face anymore.


http://www.youtube.com/watch?v=xbAjrvCkUaI

[UtahApocalypse]

I guess my only comment is so what? The "deal" both sides have agreed to is simply a political solution - everybody gets to look like they did something. The train is still rolling and the bridge is still out.

On a positive note the conductor has asked the brakeman to serve drinks, and the engineer to serve an early dinner.

[Lafayette]

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.

America’s debt weakens us domestically and internationally. Leadership means that ‘‘the buck stops here.’’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

I therefore intend to oppose the effort to increase America’s debt limit."

U.S. Senator Barack Obama (3/16/2006)

[TCE]

Another thing. I haven't heard one word about how much interest we'll be paying (and for how long) just on the increase alone.

You can do the math yourself - we are paying roughly $450 billion a year in interest but the debt is increasing by about $1.6 trillion every year. The budget is roughly $3.3 trillion, so that already takes up about 1/7 of the current budget per year. Over time, this number will increase, and if our debt is downgraded or interest rates go up, we will be paying more. In ten years after no cuts are made, we can safely assume we'll be paying at least $800 billion per year in interest payments but also consider that Social Security, Medicare, Medicaid, and everything else will increase, too and our debt is projected to be over $20 trillion. So yeah, everything's cozy. :)

[Invi]

:( Do people really honestly think we can just keep raising the debt ceiling?

Yes. An example ripped from facebook:


Kim -------- :There is no debt crisis!! It's being created by "Tea Party" nut jobs who want to see Obama FAIL, no matter what it does to the country!
* Kennedy rai sed the debt ceiling 4 times for a total increase of 5%.

#Johnson rai sed the debt ceiling 7 times for a total increase of 18%.

#Nixon raise d the debt ceiling 9 times for a total increase of 36%.

# Ford raised the debt ceiling 5 times for a total increase of 41%.

#Carter rais ed the debt ceiling 9 times for total increase of 59%.

#Reagan rais ed the debt ceiling 18 times for a total increase of 199%.

#George H. W.B ush raised the debt ceiling 9 times for a total increase of 48%.

#Clinton rai sed the debt ceiling 4 times for a total increase of 44%.

# George W. Bush raised the debt ceiling 7 times for a total increase of 90%.

#Obama has raised the debt ceiling 3 times for a total increase of 26%.

Jessica --------: Do you really think, regardless of which president was in the white house, that borrowing more money to pay off money we already borrowed is a good idea?
Would that work in any kind of long-term in your household?
I seriously doubt it.

Kim ---------: Jessica...yes

[Don Lapre]

Barry goes on national tv and annouces that 'both chambers' have come to an agreement.

He a hero.



But wait...

Now... this compromise still has to be voted through the house, right?

What if the house (on the strength of 'tea party' legislators) votes it down?



THE TEA PARTY JUST OBSTRUCTED SOUND COMPROMISE, IS RADICAL, FUCKED AMERICA, AND IS 100% RESPONSIBLE FOR OUR ECONOMIC MELTDOWN!!!

- Obama and the Sheeple



Is this not possible?

[Anti Federalist]

I imagine the people aboard the Titantic were not having a good time as it sank.

Actually, most of them were, they went around denying the fact, even as the bow settled lower and lower into the water.

It wasn't until the icy North Atlantic started soaking their socks, did anybody really start to pay attention.

And of course, by then, it was much too late.

The Ruling Class just made a great show of re-arranging the deck chairs.

Right pretty set, they are.

[Anti Federalist]

Yes. An example ripped from facebook:

Kim - Why did Obama vote NO to increase the debt limit when he was Senator?

[Invi]

You know, I didn't think to ask her that.

[Razmear]

why is it called a ceiling instead of a hole?

[JoshLowry]

The line on the graph keeps going up?

You're right though, it's a pretty big hole.

[MoneyWhereMyMouthIs2]

America’s debt weakens us domestically and internationally. Leadership means that ‘‘the buck stops here.’’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren.


Actually, that's not how it happens. The debt gets monetized through inflation and it gets paid much faster, much at your own expense.

When politicians say things like "we are putting this debt on our grandchildren," they're just inviting you accept blame with them and also making you believe that the effects of this are 40 or 60 years away. In fact, they are stealing from you right now.

[smithtg]

Sarcasm with some optimism. This country is like an alcoholic that needs to hit rock bottom before a recovery can happen.

Also, I see this as an opportunity for Ron. People are starting to wake up to the fact that the two parties are the same.

+1 Amen to that

the parties are the same,especially if they pass this

Im still wondering if they have enough votes in the "middle"

[smithtg]

Barry goes on national tv and annouces that 'both chambers' have come to an agreement.

He a hero.



But wait...

Now... this compromise still has to be voted through the house, right?

What if the house (on the strength of 'tea party' legislators) votes it down?



THE TEA PARTY JUST OBSTRUCTED SOUND COMPROMISE, IS RADICAL, FUCKED AMERICA, AND IS 100% RESPONSIBLE FOR OUR ECONOMIC MELTDOWN!!!

- Obama and the Sheeple



Is this not possible?


agreed. The sheeple who follow the "parties" will agree with their "parties" and marginalize anyone who desires real change

what is so effing dumb about this deal is they are just cutting increases anyway. By no means will the annual budget every balance after this deal, that is a fact!

[flightlesskiwi]

why is it called a ceiling instead of a hole?

sometimes you need a little finesse, sometimes you need a lot. finesse.