Discussion: The Economy, National Debt, And Other Financial Issues

[wiegeabo]

Reboot into Distributed Republics! Socialists can be socialists. Capitalists can be capitalists. Return to monarchy. Modern forms of cameralism. Authoritarian *****ebaggery!

Competing governments. Go meta.

"Human sacrifice, dogs and cats living together... mass hysteria!"

I couldn't resist

 

[bell110]

The Tea Party's official mascot.

You mad, America?

 

[Venom'sDad]

The American people need to look hard at all of these morons & vote most if not all of them out next year

That's easy to say. Who do we vote in?

I definitely think a broom needs to be taken into congress...but who would take their place is the question. If it's more of these tea partiers...no thank you.

It matters not if there is NO CHANGES, to the Lobby Law. New, well meaning people, will just be bought...the people we have now was not always this way. They have loss their principle, become apathetic and lazy, and have NO Courage, to do what's right. They just fall in line with what is dictated to them from Internationalist through Lobbyist, and many don't even know it. Sponsor of bills, don't know what in the bill they sponsor; and, Congress vote on bills they have not read. New blood will do the same as long as money flow their way(contributors).

Need a Third Party, grassroots, that's outside of the D.C. Establishment... and that will probably only buy the country a few decades before they become part of the establishment. Lobby Laws needs to be changed. Better yet, do away with all the Amendments to the Constitution and Federal Reserve Act, post 1913, that has rendered the Constitution and the Republic, useless and weak; and, return to the original foundation of the Constitution that made the Republic strong and willing to fight for.

I know easier said then done, in this day and age, with the climate of politics these days, and the atmosphere of deception and division. But, this country is fastly persuing the days of the "Old World"... which the Founding Fathers escape from; and construct an agreement/document(Constitution) to prevent the new nation from returning to the tyranny of old. That's what the eroding of the constitution brings.

You the People, must change the course of the country or watch the Great Society fall...like those before. It's not the "New World Order"...more like the "Old World Order". OWO

 

[Marx]

"Human sacrifice, dogs and cats living together... mass hysteria!"

I couldn't resist

 

[Marx]

Breaking News! The House of Representatives has rejected Senator Reid's debt plan.

 

[bell110]

They really are going to take this to the wire.

 

[Marx]

It looks like it...

 

[Matt]

Sadly, I do not think that this will be resolved. Republicans, I think, want Obama to use the 14th Amendment. It guarantees that he loses re-election. How sad that they are playing chicken with our country on the line.

 

[Kelly]

No one has yet to convince me that it is the catastrophe it is being made out to be...

I find it kind of comical that we are listening to the ones that got us into the whole financial mess in the first place. Seems so strange to me...

 

[DACrowe]

Sadly, I do not think that this will be resolved. Republicans, I think, want Obama to use the 14th Amendment. It guarantees that he loses re-election. How sad that they are playing chicken with our country on the line.

I think you're right. My hope is now that Boehner has allowed the House GOP to sufficiently show off their stream in this pissing contest, he can now cut a deal with Reid that is more or less Reid's proposal with a few tweaks--i.e. the $2 trillion the House GOP originally demanded with this fiasco and not possibly coming back for the next 18 months.

But we honestly won't know until Monday night if this is theatre or if the House GOP has shirked complete responsibility of governance. If it's the latter, Obama will likely invoke the 14th (hopefully Monday night and not Tuesday afternoon). He will suffer politically, but at least the country will be saved--at least for now.

 

[Marx]

I do not think President Obama will have any problems defending any potential use of the 14th amendment given the GOP's obstructionist mentality.

 

[DACrowe]

No one has yet to convince me that it is the catastrophe it is being made out to be...

I find it kind of comical that we are listening to the ones that got us into the whole financial mess in the first place. Seems so strange to me...

Who? You can blame the Obama Administration for many things, "getting us into the whole financial mess" is not one of them. If you're referring to economists, Wall Street financiers, fiscal think tanks and the broader corporate hegemony we see....I may agree. But they're not the ones who are about to force a default and or downgrade. This is a manufactured crisis from the House of Representatives who refuse to fix the mess they are creating right now.

 

[WhiteRat]

Sadly, I do not think that this will be resolved. Republicans, I think, want Obama to use the 14th Amendment. It guarantees that he loses re-election. How sad that they are playing chicken with our country on the line.

It wont.Both parties are corrupt and neither represent the people.They are like pro wrestlers.Inside the ring they pretend to hate each other but outside,they have lunch and hate out together.same with Politicians.they are the same party with the same agenda which is not to serve us but them.they sleep in bed together.Not literally of course.they are the demopublicans and the reprocrats.till we get a third party president for the people in office,we will continue losing our freedoms in libertys.

 

[WhiteRat]

Obozo has continued what Bushwacker got started expanding his policys and the recession.Nothing will change as long as we have this corrupt two party system and the american people get off their butts to take their country back.

 

[wiegeabo]

I do not think President Obama will have any problems defending any potential use of the 14th amendment given the GOP's obstructionist mentality.

Like an article I read said, the way Congress has been bickering with itself, if using the 14th works, Obama could become a hero to the voters. The man who finally stepped in and solved the debt ceiling crisis (at least temporarily).

It does assume the new bonds are demanded with a similar interest rate as now. But, if so, Obama can say he saved the country, even the world, from an economic crisis while the partisanship in Congress was letting the country down. This gives him a huge running point to use for next year, especially if he spends all that time working out a spending solution.

Technically Congress could try an impeach him for using the 14th, even though he has the right to do so since he's faced with two contradictory mandates, but even if the House did vote to impeach, the Democrat controlled Senate wouldn't vote to convict.

 

[Marx]

Like an article I read said, the way Congress has been bickering with itself, if using the 14th works, Obama could become a hero to the voters. The man who finally stepped in and solved the debt ceiling crisis (at least temporarily).

It does assume the new bonds are demanded with a similar interest rate as now. But, if so, Obama can say he saved the country, even the world, from an economic crisis while the partisanship in Congress was letting the country down. This gives him a huge running point to use for next year, especially if he spends all that time working out a spending solution.

Technically Congress could try an impeach him for using the 14th, even though he has the right to do so since he's faced with two contradictory mandates, but even if the House did vote to impeach, the Democrat controlled Senate wouldn't vote to convict.

Exactly Wieg. This plays perfectly for Obama after all the ridiculousness on display from both sides of Congress.

 

[bell110]

It wont.Both parties are corrupt and neither represent the people.They are like pro wrestlers.Inside the ring they pretend to hate each other but outside,they have lunch and hate out together.same with Politicians.they are the same party with the same agenda which is not to serve us but them.they sleep in bed together.Not literally of course.they are the demopublicans and the reprocrats.till we get a third party president for the people in office,we will continue losing our freedoms in libertys.

Well, you never know.

Like an article I read said, the way Congress has been bickering with itself, if using the 14th works, Obama could become a hero to the voters. The man who finally stepped in and solved the debt ceiling crisis (at least temporarily).

It does assume the new bonds are demanded with a similar interest rate as now. But, if so, Obama can say he saved the country, even the world, from an economic crisis while the partisanship in Congress was letting the country down. This gives him a huge running point to use for next year, especially if he spends all that time working out a spending solution.

Technically Congress could try an impeach him for using the 14th, even though he has the right to do so since he's faced with two contradictory mandates, but even if the House did vote to impeach, the Democrat controlled Senate wouldn't vote to convict.

That's how I see it. I don't see the problem of Obama using the 14th.

 

[redfirebird2008]

McConnell is now saying that they are close to a deal with Obama. Both sides should be ashamed for waiting so long to get this taken care of.

 

[Paradoxium]

The world is going to end. The world is going to end. High interest rate is gonna kill everyone, not nuclear war

 

[SentinelMind]

People think this one sentence gives President Obama to raise the debt ceiling on his own?

The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.

Wow...

Is gambling allowed on this site?
Wage your bets...what will happen?

1. Deal without Balanced Budget Amendment extension through 2012
2. Deal without Balanced Budget Amendement, no extension 2012
3. Deal with Balanced Budget Amendent, extension through 2012
4. Deal with Balanced Budget Amendment, no extension 2012
5. NO DEAL!!!!!!!!

Can I make this into a poll?

 

[hippie_hunter]

Details of the deal being formulated:

• A debt ceiling increase of up to $2.1 to $2.4 trillion (depending on the size of the spending cuts agreed to in the final deal).
• They have now agreed to spending cuts of roughly $1.2 trillion over 10 years.
• The formation of a special Congressional committee to recommend further deficit reduction of up to $1.6 trillion (whatever it takes to add up to the total of the debt ceiling increase). This deficit reduction could take the form of spending cuts, tax increases or both.
• The special committee must make recommendations by late November (before Congress' Thanksgiving recess).
• If Congress does not approve those cuts by December 23, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare. This "trigger" is designed to force action on the deficit reduction committee's recommendations by making the alternative painful to both Democrats and Republicans.
• A vote, in both the House and Senate, on a balanced budget amendment.

 

[Venom'sDad]

No one has yet to convince me that it is the catastrophe it is being made out to be...

I find it kind of comical that we are listening to the ones that got us into the whole financial mess in the first place. Seems so strange to me...

It won't be a catastrophe until the U.S.Dollar loses it Reserve Status...and I still think that's at least a Decade away. Don't believe in a sudden death...it will be a slow death, as it has been already, like a frog in a pot of heating water. We are slowly being prepared for the inevitable, for those that has sense to heed...which I believe more and more are.

 

[Venom'sDad]

Like an article I read said, the way Congress has been bickering with itself, if using the 14th works, Obama could become a hero to the voters. The man who finally stepped in and solved the debt ceiling crisis (at least temporarily).

It does assume the new bonds are demanded with a similar interest rate as now. But, if so, Obama can say he saved the country, even the world, from an economic crisis while the partisanship in Congress was letting the country down. This gives him a huge running point to use for next year, especially if he spends all that time working out a spending solution.

Technically Congress could try an impeach him for using the 14th, even though he has the right to do so since he's faced with two contradictory mandates, but even if the House did vote to impeach, the Democrat controlled Senate wouldn't vote to convict.

The article could very well be correct, and like some, see that possibility. Regardless, Obama will make some cuts to entitlement, expect the date to military withdrawal in some regions to be moved up, and wouldn't be surprised in America cede more Foreign Aid to China allowing China more influence over previous America interest hotspots.

 

[Kelly]

It won't be a catastrophe until the U.S.Dollar loses it Reserve Status...and I still think that's at least a Decade away. Don't believe in a sudden death...it will be a slow death, as it has been already, like a frog in a pot of heating water. We are slowly being prepared for the inevitable, for those that has sense to heed...which I believe more and more are.

I think that frog started boiling in 2000 when Bush was elected, of course the pot would have started boiling with either candidate back then....but the burner was turned on in 2000.

 

[Venom'sDad]

There are many different opinions as to when the frog start boiling...my opinion is it started with the Federal Reserve Act and Income Tax. However if you just want to look at recent times; than I must say, under the Clinton Administration with the repeal of the Glass/Steagall Act.