On the debt ceiling talks

mcavoy33 · Jul 28, 2011

If I was Obama, I'd offer to let the Republicans make a plan and base my re-election based on their inability to reach their goals / targets. The reality is the economy is in the ****ter and there is way too much debt. You can't spend your way out of a recession when you have such a high debt load.

Canada faced the same problem in the early 90's recession. They had a high debt load like the US has right now, they ended up saying screw it and paid down the debt and cut gov't spending. It dragged out Canada's recession longer than the US recession at the time but Canada isn't suffering like we are right now. A lot of that is because their economy is resourced based and our size along with China will still fuel their economy.

But the long and short of it is we need to get the debt under control. That is something that is going to be painful for minimum 3-5 years.

chefdennis · Jul 28, 2011

mcavoy33 wrote:

If I was Obama, I'd offer to let the Republicans make a plan and base my re-election based on their inability to reach their goals / targets.

Since both parties plans are based on projections that are 8-10 yrs down the road..that won't work for either party to blame the other....all he can do is hope for voter anger like the republicans did in the last election...besides both of the parties #'s are nothing but smoke and mirrors, its all bs and a show for the people,ell those that pay attention.....lol and even alot of those that think they pay attention really don't have any idea whats going on....

barry told the people to call their reps the other night at the end of his "divide the country" speech....they are calling and e-mailing and faxing...its been reported this morning that their biggest concern is that the SS checks won't get sent out....

Tennesseahawk · Jul 28, 2011

garyatk said:
It is time to send Dave Ramsey to DC! If they won't listen to him, they should all be fired!!!!

The tea party tried sending Peter Schiff to the Senate, but Connecticut wanted another failure to fill Chris Dodd's seat.

garyatk · Jul 28, 2011

That's the problem with the TEA Party... They should have left the Republican Party!

Camper · Jul 28, 2011

Tennesseahawk said:
The tea party tried sending Peter Schiff to the Senate, but Connecticut wanted another failure to fill Chris Dodd's seat.

Peter Schiff would make an excellent treasury secretary. I've seen him many times on the Kudlow Report(CNBC show) and he actually knows what he's talking about.

Posted with my Droid EO Forum App

Turtle · Jul 28, 2011

In a classic magician's misdirection trick, while everyone has their eye on the debt talks (which is barely moderately important), the Senate Intelligence Committee is quietly and secretly meeting to extend the FISA Amendments Act (recursively called the FAA) of 2008, which you may vaguely recall as the law that both made warrantless wiretapping officially legal (because the Bush administration had been doing it for years under a very questionable legal theory and they needed to ex post facto make it legal to keep Bush and a snotload of other people out of jail) and granted telecom companies retroactive immunity for having helped the feds get such wiretaps despite the lack of warrants (and, in some cases, nothing more than a post-it note asking for it).

The Obama administration has indicated that it wants the surveillance measure reauthorized — and soon - despite the fact that the law isn't even set to expire until 2012. But they want to attach the re-up to the fiscal 2012 Intelligence Budget, instead of open debate on the Senate floor.

Free and unfettered warrantless wiretapping, and with no oversight. How kewl is that?

And you thought Senators couldn't walk and chew gum at the same time. OK, back to the debt ceiling talks. Hey, look at that over there!

chefdennis · Jul 28, 2011

LOL, good catch Turtle....but there will be no vote in the house tonight on the debt ceiling bill boehner is pushing...seems the Tea Party reps have it "tighted-up" and won't vote for it...

Turtle · Jul 29, 2011

Here's a really kewl eye-popping set of graphics that illustrate just what we're dealing with:

US debt problem visualized: Debt stacked in 100 dollar bills

At the bottom of that page is this link to another eye opener.
U.S. National Debt Clock : Real Time