Democrats weigh short-term debt limit increase

OBAMA TAKE A DAMN ECONOMICS CLASS !!!

In every example raising the taxes, on the rich, will cause:
job loss
contraction
no salary raises
Etc.
You dont have to like it, is just is.

The only time you CAN raise taxes is when we are in an boom – we are not !!

Its just that simple… it wasnt Bushes tax cuts that got us into trouble as they DID create jogs and raise GDP. It was not responsible for the crash.

What Bush DID do to cause the debt was over spend.
But Obama seems to have outdone even Bush on overspending!!

To reduce the debt, STOP THE DAMNED SPENDING !!!
Obamas complete and utter ignorance is destroying America!

Raise the taxes on the rich, and large corporations. But with that put through laws that give tax breaks to corporations and rich if and only if, they hire more people and pay better wages. Real simple just simply say to the rich and powerful you lay people off you don’t give raises your going to be paying a lot more taxes you don’t wannashare some of your wealth the government will take it from you… since reaganomics we have given the rich a chance to voluntarily help the middle class they be choosin to keep all the money every time they can. Now the nations back is against the wall we cannot give them a choice they have to choose they either pay a lot of taxes or pay their employees.

In 2009, the Democratic controlled Senate, House, and President passed a stimulus bill which they all signed on to. That bill SPECIFICALLY had in it tax breaks for the private jet industry to stimulate people to purchase these jets.. This was put into the stimulus bill AFTER BO critized CEOs and other business people for traveling on private jets which caused a downturn in the industry.

So after trampling on the industry, then putting money into the stimulus bill to revive it, now they are trampling it again. Does anyone smell politics at its worst?

@bck555
did not know that doesn’t surprise me. Bs about the tax breaksthat obama is complaining about is just a farce in order to get re elected he’s trying to do what he did to get elected promise real change that the rich will pay and the middle class will be strong again just another lie. Said this before, barack obama promised hope, but all we got was “NOPE”
Again tax the rich and wealthy if and only if they don’t create jobs. Reaganomics gave them a choice the rich and powerful have chosen to keep everything, So now no more choice you either give the money to the government or give money to your employees…

Jabberwolf. Clearly you have never taken an econ class. Employment and wages grew much faster during periods of higher top marginal tax rates (not saying high taxes = more growth, just saying that low taxes, especially for the highest earners has almost no effect on growth). This isn’t a partisan issue. It’s the numbers. Stop making things up, you have no basis for what you are saying. The Bush tax cuts represent a huge portion of todays deficit. Again, this shouldn’t be a partisan issue, it’s simply fact. Unfortunately the people who feed you this nonsense aren’t ignorant or incompetent, they are savvy enough to dupe millions of Americans into believing this “tax cuts pay for themselves”, “tax cuts don’t add to the deficit” nonsense. Do some research on your own. Reagan raised taxes 10+ times to reduce the deficit his monster tax cuts created, George H. W. Bush raised taxes to further decrease the deficit and Bill Clinton raised taxes and cut some spending to finally erase the deficit the Reagan tax cuts made structural. Please, stop making things up!

My mother always says, “We usually find the fault in others that we, ourselves, possess.”

Jabberwolf is a great example of this. But then, he is just regurgitating the popular Reagan Republican myth that exempting corporations and their wealthy captains from taxes will magically create jobs and boost the economy. An actual check of economic statistics for the Bush-the-son era quickly reveals that jobs and income were stagnant.

It doesn’t take a genius to understand that if you reduce income (cut taxes) and increase spending (launch 2 unfunded wars and enlarge government), you’re going to end up in the hole. People seem unwilling to accept the truth that if you want to repair something that has been destroyed, you will have to spend some money to make the repairs. Bush destroyed the economy. Obama is trying to fix it. It costs money.

A fifth grader can understand this. Why can’t tea-party republicans? Talk about utter ignorance!

“Congress must raise the $14.3 trillion debt ceiling by August 2 to avoid a default that could push the United States back into recession and send financial markets plummeting.”

If Republicans were smart they would be explaining the need for pushint the debt ceiling up. A default on our debt is not what would cause a recession. The true cause is spending more money than we have, and not having any money left. The deficit spending will cause us to go into another recession. The problem Republicans have though is that they love deficit spending when they are in office, so it is pretty hard to call that kettle black.

@rowettd

Spending more money than you have and then taking a loan out from your biggest military threat is going to get in you in more trouble. In fact everyone agrees that if we don’t pay up on our bills that we cannot afford, we will have another recession. Obama and the 2006-2010 Democrats failed completely, as did Bush and the 2000-2006 Republicans. You should quit taking economics classes with fifth graders.

TheNewWorld: Speaking of taking economics classes, the Republicans like to charge Obama and the Democrats as being spend-aholics, but the truth is that since Obama became president most of his spending was on commitments put in place by the Bush Administration: The Afghan war; the Iraq war; Medicare D Prescription Drug Plan; the Dept of Homeland Security; No Child Left Behind; the Bush tax cuts. Had Obama stopped paying on these things the day he entered office, and rescinded the tax cuts, we’d have a balanced budget and we could already have started paying down the debt.

Of course, the Republicans would have then impeached Obama immediately. They want it both ways, to keep that spending in place and to blame Obama for it. Notice that nothing from Bush’s spending list is now under attack by the Republicans. The tax cuts alone would have funded Obama’s $700 billion stimulus bill. So the Republicans conveniently quote the “spending since Obama came to office” and the amount over budget which is a convenient way of blaming Obama for Bush and the Republican’s serial spending. You have to be able to peel back that layers to get to the truth. Compared to Bush, Obama is extremely thrifty.

You also need to consider what was introduced by the Republicans verses what was introduced by the Democrats. This is important in deciding who you want running things going forward. Rightwingers like to blame Democrats for the spending done while Bush was president with a Democratic majority in the House. Though you are right to put some of the responsibility on the Democrats for not preventing Bush’s initiatives, 4 important points need to be kept in mind: 1) the initiative, and thus, the spending, would not have occurred had Bush not introduce it in the first place; 2) the Democrats may have had a majority, but nothing that Bush introduced passed without strong support from the Republicans; 3) as both political parties used to do in the past, but the Republicans no longer do, is to try to accommodate the President of the United States, elected by the people, and you do this through negotiation in order to get some things for your side, and; 4) even though the Democrats held a majority in the House, unlike the Republicans, it is extremely difficult for the Democrats to all get on the same page because they represent such a wide variety of people, and (more importantly) they feed from the same corporate troughs that the Republicans feed from, so it’s not hard to bribe a few Democrats to vote in favor or something Bush and the Republicans want. Sad but true. (That’s why I’m always advocating publicly financed elections.)

But I have a hunch you will reject that bit of truth because it doesn’t jibe with your political ideology and that’s akin to contradicting one’s religious beliefs. Maybe I’m wrong? However, it remains true. But don’t worry, the corporate-owned news media is helping to keep this a secret.

Make a decision! Delay is not the decision. It is only a postponement of the decision. The government is dithering. Would you guys and gals please act like adults?

@ginchinchili

You wont get an argument out of me about how much the Republicans are to blame. My problem with the Democrats is they knew that this was coming and did nothing in 2009-2010 when they held the House, Senate, and Presidency. That isn’t Obama’s fault, but Pelosi and Reid passed the buck to the next term. Maybe a bit of the blame can be made on the prioritizing of the heatlh care plan. How irresponsible was it to prioritize Obmacare, and push the deficit and the debt limit down the road when they constantly remind us if a deal is not reached we will have dire economic consequences and they predict another recession. Both parties are to blame, and neither of them have any solutions. IM tired of the divisive politics, and rather sick of both parties.

TheNewWorld: I can’t argue with that and I apologize for any assumptions that my post implies about you. You answered my question to the affirmative. Maybe I’m wrong? Yes, I was. My apologies.

I’m sick of the divisiveness, as well. Our government must be able to work with one another. Otherwise, they’re failing to do their job. They work for us. When someone works for me and they fail to do their job, they get fired. This has to change.

The most amusing statement made during the discussion of taxes was by Senate Minority Leader McConnell who said he wasn’t going to make the taxpayers pay more because of the uncontrolled spending by Democrats. In the past 10 years nearing ALL of the new government spending has come at the hands of the Republicans. Any one care to go back and look at all those funding bills for the wars in Afghanistan and Iraq that passed when the Republicans controlled the Senate? The amount of money for “earmarks” for frivolous and unrelated projects packed into those bills would be enough to give you a nose bleed. Anyone remember the most famous Republican earmark of all time, the Alaska bridge to nowhere? John McCain was wincing big time over them. Yup! It’s ALL the fault of those damn Democrats!

News Flash!!! There is no impending Financial Doom facing our Country – unless, of course, we don’t get the Top 6-10 Banks under control.

The “Debt Ceiling” is a complete farce, which is some holdover political “grandstanding” from bygone partisan battles.

The 14th Amendment asserts that any lawful debt of the US is payable by the US. Our Debt was lawfully incurred by 20 years of VooDoo Economics Budgets started by Reagan, but each with impacts far beyond the Budgetary Fiscal Year as @ginchincili pointed out.

Bottomline, this Debt Limit is irrelevant. That the Constitutional Law Professor-in-Chief is even playing this game with the GOPpers is probably beyond me. He’s smarter than they are, so he must have a reason.

The US government will only have significant financial problems IF these clowns in DC do NOT get 10 of the 20 Million Un-employed a JOB SOON!. There is no Debt problem, only an Income and patriotic Leadership one.

We the People, on the other hand, have a significant financial problem everyday these clowns – Reps, Dems, and especially teapots and a crackpot from CN do not focus on creating JOBS!.

President Obama said “these are bills that have already been voted on we can’t just say now we are not going to pay for them.” Yes we can. If a mother and father tell their child they plan to pay her way to college and the week she graduates high school a hurricane destroys their business what do they tell their daughter – “Sorry we can’t pay.” This is what has happened to the entitlement payments the government “promised”. If the economy had grown like everyone hoped they could have made these payment but it didn’t. It is as simple as that and Obama is being insincere to cast it otherwise similar to what Hugo Chavez would do and he knows it. Let’s hope the American people wake up before Obama announces he is President for life and people take up arms on that final field of honor rather than become slaves.

LOL @ Truth_Teller, dude you really need to join reality like the rest of us. Just please tell us how Obama can “announces he is President for life”. So funny.