United States debt-ceiling crisis 2013

[B00Mer]

United States debt-ceiling crisis 2013

In 2006, U.S. Senator Barack Obama spoke out against raising the U.S. goevrnment debt limit.
Read more at snopes.com: Obama on the Debt Limit

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In 2006, U.S. Senator Barack Obama spoke out against raising the U.S. government debt limit.

'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 US Government can not 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. Increasing 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.'

snopes.com: Obama on the Debt Limit

Sen Obama in 2006 Against Raising Debt Ceiling - YouTube

The USA should NOT increase the debt ceiling and if they do, change the EU as the main currency for OIL. Dump the US Dollar.

Their money is worthless and is not based on Gold..

Obama in his own words is a failure.. a miserable failure.

 

[Goober]

Are you aware of the repercussion of a default.

 

[Walter]

The only way for the US to default is for BHO to go against the constitution he swore to uphold and defend.

 

[B00Mer]

Are you aware of the repercussion of a default.

PANIC!! The Sky is falling!! The Sky is falling!!

Let's see New Zealand went bankrupt, they are better for it, Brazil went bankrupt and now they are energy self sufficient and have a better energy program that the USA.

So Goober, What will happen?? It's never happen before, so how would you know for sure until it happens.. other than panic from Big Business.. of course, they might lose millions.. but other than a few fat cats losing their shirts.

Raising the debt ceiling: What happens if we default? | WJLA.com

 

[Goober]

The only way for the US to default is for BHO to go against the constitution he swore to uphold and defend.

The funding begins in the House does it not.
Now the default date could be extended by the US Govt directing all funds received to paying - servicing the debt.
All outflows would be halted.
How would you like them apples?

 

[B00Mer]

The funding begins in the House does it not.

...and exactly, so the senate is saying we don't like what you're offering and we will not negotiate to open branches of the government as offered by the House.. in short KEEPING THE GOVERNMENT CLOSED!!!

The Republicans have offered to fund branches.. but Obama, because his Affordable Health Plan is named after him (ObamaCare) is taking a hissy fit and what's full funding.

He has had his *** handed to him by Putin and Syria and he will talk with terrorist leaders in Iran, but he won't negotiate with Republicans..

 

[Goober]

...and exactly, so the senate is saying we don't like what you're offering and we will not negotiate to open branches of the government as offered by the House.. in short KEEPING THE GOVERNMENT CLOSED!!!

Not the question I asked. What are the ramifications of a US default.
Keep it simple.
As to who is holding who hostage, perhaps looking at the Repub leadership who are looking at saving their seats. After all they are up for election next year. Every 2 years.
And the TP along with their bank-rollers are able to spend millions on each leadership race getting rid of RINO's.
How much have the Koch brothers and others donated - bet it is over 1/2 a billion. And that is low.

 

[Walter]

The funding begins in the House does it not.
Now the default date could be extended by the US Govt directing all funds received to paying - servicing the debt.
All outflows would be halted.
How would you like them apples?

The debt servicing is about $35B per month and collected taxes are about $250B per month and BHO has executive authority to pay the debts of the US.

 

[Goober]

The debt servicing is about $35B per month and collected taxes are about $250B per month and BHO has executive authority to pay the debts of the US.

I know and he can select what is funded and what is not.
How would that play in Peoria or main street. Targeted cuts.
http://www.washingtonpost.com/polit...4be-11e3-80c6-7e6dd8d22d8f_story.html?hpid=z1

A rebuke from a former Obama cabinet official.
http://www.washingtonpost.com/opini...4f9-11e3-be86-6aeaa439845b_story.html?hpid=z2

 

[gopher]

BOOM,

Obama in his own words is a failure.. a miserable failure.

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When you think about it, it's too bad Reagan did not have the same humility:


Reagan Raised the Debt Ceiling the More Times Than Any Other President Since 1960



Republican Myth Busted: Reagan Raised the Debt Ceiling 3 Times More than Obama

 

[pgs]

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When you think about it, it's too bad Reagan did not have the same humility:


Reagan Raised the Debt Ceiling the More Times Than Any Other President Since 1960



Republican Myth Busted: Reagan Raised the Debt Ceiling 3 Times More than Obama

Waaaa Ronny stole your milk so I'm going to as well O K

 

[taxslave]

...and exactly, so the senate is saying we don't like what you're offering and we will not negotiate to open branches of the government as offered by the House.. in short KEEPING THE GOVERNMENT CLOSED!!!

The Republicans have offered to fund branches.. but Obama, because his Affordable Health Plan is named after him (ObamaCare) is taking a hissy fit and what's full funding.

He has had his *** handed to him by Putin and Syria and he will talk with terrorist leaders in Iran, but he won't negotiate with Republicans..

Why would he want to negociate with the republicans?

 

[captain morgan]

Why would he want to negociate with the republicans?

Well, there's always the capacity to negotiate with the Chinese... They have more than enough money to extend via debt to the WH

 

[taxslave]

Well, there's always the capacity to negotiate with the Chinese... They have more than enough money to extend via debt to the WH

Probably have more success too.

 

[B00Mer]

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O.K. there Larry Sinclair (AKA gopher) you really need to stop blowing Obama in every post..

Why would he want to negociate with the republicans?

...to do what's right for the country.. ya think.

The house controls the finance, not the senate or the President. Personally, I think they need to say no to raising the debt ceiling, the country is spiraling out of control.. 17 trillion dollars in debt, put on the backs of the youth and next generation.

It's time to cut up the credit cards and pay down the debts..

I hope Iran starts to use the EU to trade Oil.. it will let the world see that the USD is not a strong petro dollar and the economy is built on a house of cards.. maybe then the USA will start considering fiscal responsibility.

Iran mulls currency switch for EU oil sales

 

[taxslave]

O.K. there Larry Sinclair (AKA gopher) you really need to stop blowing Obama in every post..

...to do what's right for the country.. ya think.

The house controls the finance, not the senate or the President. Personally, I think they need to say no to raising the debt ceiling, the country is spiraling out of control.. 17 trillion dollars in debt, put on the back of the youth and next generation.

They needed to put the brakes on spending years ago. Obama inherited this mess, he didn't make it. George the lessor decided it was more important to lower taxes for his friends than cut the deficit or even look at the debt. There are lots of places spending could be cut and taxes raised without causing hardship but the extreme right has decided tha they would rather default on payments than provide health care for the citizens. Unfortunate really because the republican party does not deserve them.

 

[B00Mer]

They needed to put the brakes on spending years ago. Obama inherited this mess, he didn't make it. George the lessor decided it was more important to lower taxes for his friends than cut the deficit or even look at the debt. There are lots of places spending could be cut and taxes raised without causing hardship but the extreme right has decided tha they would rather default on payments than provide health care for the citizens. Unfortunate really because the republican party does not deserve them.

They need a VAT tax nationwide and they need to cut spending and take their debt seriously..

As far as ObamaCare, the government should have come in with it's own plan, at $75/mo and offer that to everyone.. bare minimum services.. you want a private room, ambulance paid for, you buy private Insurance.

I think then ObamaCare would have worked, offering both Government and Private Insurance for people. ObamaFailed.

 

[Walter]

The house controls the finance, not the senate or the President. Personally, I think they need to say no to raising the debt ceiling, the country is spiraling out of control.. 17 trillion dollars in debt, put on the backs of the youth and next generation.

The debt servicing is about $35B per month and collected taxes are about $250B per month and BHO has executive authority and the constitutional obligation (14th amendment) to pay the debts of the US.

 

[captain morgan]

They needed to put the brakes on spending years ago. Obama inherited this mess, he didn't make it. George the lessor decided it was more important to lower taxes for his friends than cut the deficit or even look at the debt. There are lots of places spending could be cut and taxes raised without causing hardship but the extreme right has decided tha they would rather default on payments than provide health care for the citizens. Unfortunate really because the republican party does not deserve them.

Obama has been in the seat of power for 1.5 terms now.... No more blaming previous admins for the current (and escalating) costs.

No one will argue that he did not inherit a tough situation, but if I recall, his first election platform promised all manner of action to deal with what was considered overspending at the time. Since then, his actions have simply resulted in even more spending.

 

[Locutus]

via Fark:

The scariest quotes about the debt crisis. EVERYBODY PANIC

Leaders of the world's foremost financial institutions gathered this weekend in Washington, D.C., to discuss the looming debt crisis. While most of the finance ministers, CEO's and economists believe U.S. politicians will get their act together in time to avoid a default, they spared no words in warning about the risks involved if they don't.

"As you get closer to it, the panic will set in and something will happen… It would ripple through the global economy in a way you couldn't possibly understand."
--Jamie Dimon, JP Morgan Chase, chairman

"It would be utterly catastrophic… This would be a very rapidly spreading, fatal disease."
--Anshu Jain, Deutsche Bank, co-CEO

"The consequences of it would be absolutely disastrous."
-- Baudouin Prot, BNP Paribas SA, chairman

"If there is that degree of disruption, that lack of certainty, that lack of trust in the U.S. signature, it would mean massive disruption the world over, and we would be at risk of tipping yet again into a recession."
--Christine Legarde, IMF, managing director

"A default of the United States is actually unthinkable. The consequences are hard to calculate."
--Wolfgang Schäuble, Germany, finance minister

"The effects of any failure to repay the debt would be felt right away, leading to potentially major disruptions in financial markets."
--Olivier Blanchar, IMF, chief economist

"The U.S. must be fully aware that if [default] happens, the U.S. would fall into fiscal crisis."
--Taro Aso, Japan, finance minister

"barry soetoro is a petulant punk"
--Locutus, CC, moderator

Be Afraid! The Scariest Quotes About the Debt Crisis - ABC News