Obama wanting debt limit hike with no cuts ‘almost took my breath away’

This picture explains in a clear manner the difference between President Obama and challenger Mittens Romney. As you can see Mittens plans to balloon our national deficit and Obama's plan reduces it.

So, this is what could happen if the debt limit isn't raised:

First, to maintain interest and principal payments on our debt in the absence of an increase to the debt limit would require drastic and immediate cuts in federal government spending that would hurt the U.S. economy and our country in general. To make sure we do not hit the debt limit, the federal government would need to cut a substantial amount from all spending. This could result in large job losses as public spending would fall sharply on everything from construction projects to social programs to government-sponsored research and development.

This would happen because government-funded programs would have to be cut dramatically, government-funded projects would halt mid-stream, and numerous other drastic cuts would lead to a swift reduction in overall economic activity. All of this would occur during a period in which unemployment remains at historically high levels.

Second, failure to raise the debt limit even if we continue making interest and principal payments on our debt could hurt confidence that investors have in the federal government. Investors might lose faith in the federal government’s ability to come together on other important issues, such as dealing with the deficit and charting a path to a balanced budget. This could lead to significantly higher interest rates, the cost of which would be borne by all taxpayers as well as businesses and consumers—all of whom would also face higher borrowing costs as confidence in the United States eroded.

www.americanprogress.org...

However, I'm still for not raising the debt limit. Congress needs to learn how to work within a budget instead of constantly spending until we become the Looted States Of America. There should be no shame in putting money away for emergencies and disasters. I really don't understand all this spend spend spend attitude. I really wish the government would learn a different attitude.

I think, but am not certain, that we could have a much better economy if the government learned to stop spending so much. It just seems to me that the more you spend, the more things get broken.

Originally posted by ThirdEyeofHorus

Originally posted by braindeadconservatives

Originally posted by beezzer
reply to post by jibeho

 

No more spending.

Obama is purposly trying to ruin the country.

If it takes austerity now, then so be it!

Lets turn into Greece, yahhooo!

I'm guessing that is the actual plan. Their plan has been to collapse the system and then bring in the One World Govt and a One World Currency as the solution. At the moment they are diminishing the dollar as just one of a number in a "basket of currencies". Soros wants the Euro to succeed and make Britain come into the European Union.

I see you are not a big fan of logic...

The people who are going to propose a One World currency are going to do so by crashing the
archetype of a universal currency, which is the EURO?

That makes NO sense

You do not promote things by destroying the public perception of those things.

braindeadconservatives

John Boehner is planning to hold America hostage again.

This will be another hit to the economy the GOP is hoping for.

GOP economic sabotage in the name of patriotism.

Economic terrorist Republican Manifesto.

Originally posted by braindeadconservatives
reply to post by jibeho

 

How about more revenue?

We have been cutting for three years-

Just raising taxes is not going to bring in enough revenue. They have to stop the mad spending spree. It is unsustainable. Raising taxes will just stifle the recovery. All the taxing is just redistribution of income. The Democrats love to hide behind a need to tax in order to balance the budget. It's called Tax and Spend. The more they tax the more they spend. No matter how many social programs we add to our budget, the Progressives want more and more and more and more. It is a classic Bottomless Pit of spending. They cry out about how unjust it is to not pay for poor people's dinners in addition to lunches, or how terrible the Republicans are to women and their needs, or how awful it is that poor people cannot afford to kill their own preborn, or that the poor illegal children are starving to death while conservatives are supposedly war mongering and killing people in other nations(never mind the Progressives do that too). They cry out that the earth is dying from too much Co2. They cry out that people can't afford health insurance. It just goes on and on and on. If you actually look at some of the crazy stuff Congress actually spends money on, it's nuts.
It's time to stop it. Our Founding Fathers did not intend for half the entire country to go on welfare.

reply to post by braindeadconservatives


I said SOROS wants the Euro. Yes, they are trying to crash the DOLLAR. Why do you think that is? The Euro is crashing anyway, and Soros does not like that. Plans don't always go the way these nuts want it to. Don't forget there are factions fighting for supremacy.

Remember, Soros is who is running the Obama gambit. He and the Intl Socialists are trying to turn America Socialist, while yet using American Capitalism to gain influence and make tons of money.

Note Reuters article

Billionaire George Soros warned on Monday that the euro crisis is growing deeper, tearing at the fabric of European Union cohesion, because policymakers are prescribing the wrong remedies.

"I'm afraid that the euro crisis is getting worse. It's not over yet, and it is going in the wrong direction," Soros said in discussion with Denmark's economics minister hosted by the daily newspaper Politiken.
"The euro is undermining the political cohesion of the European Union, and if it continues like that could even destroy the European Union," Soros said. "That is due to a misunderstanding of what the problem is."
Soros, the Hungarian born U.S. investor, said that the creators of the single European currency believed that imbalances were created in the public sector without understanding that markets themselves can create imbalances.

He said the euro crisis is being dealt with by policymakers as a fiscal crisis though the crisis began as a collapse of the banking system in the United States and was compounded by a divergence of competitiveness among European countries.

www.reuters.com...

Nothing like creating a crisis, making gazillions of dollars in the market collapsing various economies, then sitting back and criticizing how policy makers deal with the very crisis you(Soros that is) set into operation. Michael Savage explains how fund managers connected to Soros were involved in the market collapse in 08 in his book, "Trickle Up Poverty".
Soros likes the Euro because he wants a European Union. Remember he collapsed the Bank of England.

If this doesn't make it plain enough, I don't know what will: from the Daily Mail

'There will be riots on streets of America': George Soros predicts class war in U.S. as euro triggers collapse of global economy

Billionaire New York investor warns of impending economic meltdown
Backs euro and buys Italian bonds from Jon Corzine's failed MF Global

Warns it's 'difficult to know right decisions to make' after boom years

Supports Occupy Wall Street, Democrats and Obama re-election efforts

He has backed the euro, bought $2billion in European bonds and insisted the economic climate is similar to the 1930s Great Depression.

www.dailymail.co.uk...

Nothing like predicting what you (I mean Soros) is making happen.

reply to post by ThirdEyeofHorus


I assume no one (here) knows the answer to this, but I often wonder if some of the "Elites" realize that their idea of global eugenics and serfdom for the 99% is actually a tremendous disaster, and that evil is only a big con and mirage. That they were deluded.

Originally posted by ThirdEyeofHorus

Originally posted by braindeadconservatives
reply to post by jibeho

 

How about more revenue?

We have been cutting for three years-

Just raising taxes is not going to bring in enough revenue. They have to stop the mad spending spree. It is unsustainable. Raising taxes will just stifle the recovery. All the taxing is just redistribution of income. The Democrats love to hide behind a need to tax in order to balance the budget. It's called Tax and Spend. The more they tax the more they spend. No matter how many social programs we add to our budget, the Progressives want more and more and more and more. It is a classic Bottomless Pit of spending. They cry out about how unjust it is to not pay for poor people's dinners in addition to lunches, or how terrible the Republicans are to women and their needs, or how awful it is that poor people cannot afford to kill their own preborn, or that the poor illegal children are starving to death while conservatives are supposedly war mongering and killing people in other nations(never mind the Progressives do that too). They cry out that the earth is dying from too much Co2. They cry out that people can't afford health insurance. It just goes on and on and on. If you actually look at some of the crazy stuff Congress actually spends money on, it's nuts.
It's time to stop it. Our Founding Fathers did not intend for half the entire country to go on welfare.

edit on 19-5-2012 by ThirdEyeofHorus because: (no reason given)

You are wrong

Milton Freedman even believed that economies, in times of recession and depression NEED to
increase government currency output to match the gap that has been created by the
economic downturn.


Cutting the amount of Money in circulation is what causes depressions, EXACTLY what
austerity did in Greece and Spain, so don't let logic or fact get in the way of your crusade...

The reason the budget is off balance is because the Republicans cut taxes and failed
to cut programs or raise revenue. It is by design and you are too dull to realize the
truth... The people Republicans rally behind ARE the banks and corporations seeking
to dominate the world, so I don't know what kind of horse shhit you've been smoking.

reagan raised it 8 times and no republicans got their panties in a bunch

it is an obscure bearocratic mechanism that has never before been used to squeeze a presidents budget

this time obama needs to stand up to boehners bluff

Originally posted by ThirdEyeofHorus
reply to post by braindeadconservatives

 

I said SOROS wants the Euro. Yes, they are trying to crash the DOLLAR. Why do you think that is? The Euro is crashing anyway, and Soros does not like that. Plans don't always go the way these nuts want it to. Don't forget there are factions fighting for supremacy.

So the way to stop the EURO is to crash the entire European Economy?

I thought you said they are crashing things to implement a universal currency -

Really where is your logic?

You are saying that the people who are trying to put in place a universal currency are
the ones who are crashing the universal currency that is the poster child for universal
currency? That is truly the stupidest thing I have heard in a long time...

You do not promote things by making they fail sir -

Originally posted by syrinx high priest
reagan raised it 8 times and no republicans got their panties in a bunch

it is an obscure bearocratic mechanism that has never before been used to squeeze a presidents budget

There is no substance or truth to anything these people say or believe - it is truly rotten.

It is ONLY about retaining power so they can directly represent the ruling class in society
and implement the rulers agenda as easily as possible. That is the GOP, Republicans and
conservatism summed up. What they say is all that matters, what they do does not have to
match that one bit. It is truly a genius plan

reply to post by braindeadconservatives


Just so I am clear here. You propose that there is no need for a balanced budget, ever? The numbers are there, where we are headed, even taxation at 100% pay the debt. What kind of business operates like that successfully? There isn't one. I can't believe how much I just paid the IRS, and my family is FAR from wealthy. We come from low-middle class families, and have worked hard to to make decent salaries. I am PISSED beyond belief that this is even being considered. I can't live or spend outside of my budget, but congress sure can, and they can do it with my money, even when I can't.

reply to post by ThirdEyeofHorus


Yet the conservative are the ones shilling for the bank policies, blocking a re institution
of Glass Steagall, or creating an electoral system that is funded by a few billionaires
on the conservative side....


How about NDAA??? Just 19 Republicans voted to over turn it, while all but 19 Dems voted
TO OVERTURN it -

Instead, the House passed, by a vote of 243-173, an amendment to the National Defense Authorization Act (NDAA) sponsored by Reps. Louie Gohmert (R-Texas), Jeff Landry (R-La.) and Scott Rigell (R-Va.) that affirmed U.S. citizens would not be denied habeas corpus rights.

Smith and Amash had hoped to attract enough support from libertarian-leaning Republicans to pass their measure, but only 19 Republicans voted for it, while 19 Democrats voted against.

You are in the bed with the Devil but you accuse others of your own sins

Cutting the amount of Money in circulation is what causes depressions,

Yes, this is what the Keynesian economic model is styled after, and it sounds a lot like what Soros is pushing as well, even though Soros' goal is World Socialism.

Again, what is the point of trying to grow yourself out of a recession if you are still overspending? Right now the Federal Reserve is just printing money like Niagara Falls to pay for stuff we cannot afford. Soros typically is for all kinds of leftist programs. Have you ever read "Creature From Jekyll Island" by G Edward Griffin?
Maybe Griffin can explain this to you better than I can.

Here is one of five



4 of 5

reply to post by braindeadconservatives


Oh brother!!!! lol you make me laugh telling me I am in bed with the devil. Here I am telling you exactly what is going on with the Fed and with Soros the billionaire who has already completely trashed two nation's economies and even was convicted in France, and you are telling me I am in bed with the devil because I won't go along with your foolish leftist ideas.

Lets ignore the fact that the house voted to raise military spending and already broke the budget..


Lets blame Obama for wanting money so people can get a paycheck, and programs that help people (The same programs the house want to cut for more military spending) can keep funds.

Originally posted by artnut
reply to post by braindeadconservatives

 

Just so I am clear here. You propose that there is no need for a balanced budget, ever? The numbers are there, where we are headed, even taxation at 100% pay the debt. What kind of business operates like that successfully? There isn't one. I can't believe how much I just paid the IRS, and my family is FAR from wealthy. We come from low-middle class families, and have worked hard to to make decent salaries. I am PISSED beyond belief that this is even being considered. I can't live or spend outside of my budget, but congress sure can, and they can do it with my money, even when I can't.

Yes, you can balance a budget once the private sector begins to make up for a reduction
of currency in the economy. If America reduces the amount of money that is in circulation,
while people are unwilling to spend and companies are unwilling to hire, the effect is further
contraction. The store down the street gets less business, they order less goods, those
distributors reduce their orders and things contract, people are laid off, etc...


You are choosing to look at it the way you do and your being pissed clouds your judgment
which is the point of propaganda. Political parties get people mad, which becomes the
justification to implement an agenda. If you would care to take notice, the agenda is to
deregulate the banks further, to reduce taxes for Billions, not to reduce taxes for the
middle class.

Ask yourself these things and don't let your being pissed CLOUD your logical prowess.

If you cut your own income (reduced taxes) and kept spending the same,
would it be smart to keep cutting your income further?

How about in a business, can a business grow if they do not spend money to invest in that
business?

Would a business get MORE customers if they cut their marketing budget by 50%?

If you raise the budget to MATCH the amount of money that is not in circulation due to
the downturn, this country will get up quickly. But you cannot do that by lowering that ratio,
even Ronald Reagan's own economy advisor believed in this principle. What they are selling you
is a new can of beans that is really just a scheme to further enrich the elite.

Look at all those purdy red numbers then take a look at the M2 money supply

www.usdebtclock.org...

Over 10 trillion dollars of fiat currency cbo projections put that national debt over over 21 trillion within the next 4 years.

Stick a fork in us were done and no thanks to the messiah Obama.

reply to post by Resurected


Not for more military spending, even being married to a retired military man, but I reckon Obama can use that after Libya and the whole Iran thing looming ahead...

reply to post by artnut


For military spending also.. Remember vets who cant fight anymore are those same hippys who wont work and want a handout as far as the right thinks..