Thursday, July 14, 2011

The Continuing Saga of the Debt Ceiling Crises

by: Les Carpenter
Rational Nation USA
Birthplace of Independent Conservatism
Liberty -vs- Tyranny


The President, Congressional Democrats, and Republicans are action like spoiled brats. It's kinda like watching a child who throws a temper tantrum because they wanted a red lollipop and they were given a green one.

There is every reason to blame both parties, as well as the President, for this modern game of brinkmanship playing out over the debt crises. In the event talks produce nothing and we default on our obligations the responsibility rests with both parties and the President.

They, and I mean in unison, will bear the responsibility for the fallout both nationally and internationally for their inability to cut the deal.

It is obvious that all concerned are interested more in their own agenda than the interest of the American people, or anything else for that matter.

Simply disgusting...

... Adults acting as children.

Alan Simpson: ‘No Hope’ of Debt Ceiling Agreement

“Don’t call my bluff,” the president said.

Boehner: Dealing With the White House 'Has Been Like Dealing With Jell-o'

Obama warns Cantor: 'Don't call my bluff' in debt-limit talks

Via: Memeorandum

11 comments:

  1. Sorry, Les, your analysis is totally wrong and biased.

    The President has staked a very mature position and if this impasse is not resolved then the blame will squarely rest on the Republicans.

    The President is seeking a long term solution and is unwilling to settle for a short term fix; he wants 4 trillion in reduction and is not willing to kick the can down the street by agreeing to anything less.

    He has agreed to 3 dollars of spending cuts to 1 dollar of revenue increases.

    He has met with the republicans on almost a daily basis but the problem is you have no central republican leadership and Eric Cantor is attempting to ensure that nothing happens unless he benefits.

    If the train wreck occurs the blame will belong on the republicans in general and the Tea Party specifically...and the reality is that the right has no one to blame but themselves....Obama threw the progressives under the bus along time ago and he staked a right of center position by agreeing to put social security and medicare on the table. He has met daily with the republican leadership and we all have seen the footage....

    The republicans picked the fight and the issue, now they find themselves in a situation where they will have to capitulate or be blamed for a train wreck.

    Now its Obama demanding 4 trillion in savings and Cantor, the hero of the Tea Party block willing to settle for less with a temporary debt ceiling raise.

    Looks to me like the Repugs have found themselves back in 1994.

    ReplyDelete
  2. Yup Tao, I know all of this s*it. It is exactly that s*it.

    At the end of the day the results will benefit no one. Absolutely no one.

    The demagogues on both sides of the aisle are playing games.

    Frankly TAO, as Rhett Butler said, "Frankly my dear I don't give a damn."

    Both parties have gotten us to where we are today and they will continue until the next group arrives to pick up where the last left of.

    Conservatives ought read my manifesto, it's easy to find. Dumbacrats should do the same.

    ..........

    ReplyDelete
  3. Well, Les, I think more importantly here we should consider who's constitional responsibility it is to pass budget bills, and you know full well it ain't the prez.

    The Dems are not in power in the House. It is the House GOP's responsibility to pass a bill. That's where it all starts.

    The Dems control the Senate and the White House. That's life. The onus is on the House GOP to pass a bill that will get through the Senate and the president's signature - or then pass a veto override.

    We are all eagerly awaiting the bill these silly little children in the House GOP are constitutionally required to pass.

    Time for the Tea Party-wing of the GOP to GROW UP.

    JMJ

    ReplyDelete
  4. Donald in Bethel, CT--
    @TAO,

    As if the Dems, the previous 111th Congress, and President Obama are completely inculpable to any of this financial mess.

    Oy.

    Donald in Bethel, CT

    ReplyDelete
  5. Financial mess Donald? Go all the way back to Reagan....

    None of this has anything to do with cleaning up a financial mess...its all politics.

    Nobody wants to clean up the mess because no one knows how, and no one wants to go back to the folks that pay for their campaign and say, "hey, everyone got to chip in...."

    The "job creators" want their tax cuts, their loopholes, and subsidies...the poor want their benefits, the landlords want section 8, the grocery stores want WIC and food stamps, the military and military industrial complex wants their budgets oh, the list goes on and on....

    The Tea Party made a huge mistake in judgement in picking the debt ceiling as a place to make their stand....

    Should go with one dollar of revenue increases for every three dollars of spending cuts....that way everyone shares the sacrifice. Raise the debt ceiling one time and ever raise it again.

    Taxes do not create or destroy jobs...there is no relationship between the two numbers.

    So, go with 4 trillion in savings and call it a day.

    ReplyDelete
  6. TAO - you said...

    "The Tea Party made a huge mistake in judgement in picking the debt ceiling as a place to make their stand...."

    I agree

    "Should go with one dollar of revenue increases for every three dollars of spending cuts....that way everyone shares the sacrifice. Raise the debt ceiling one time and ever raise it again."

    I agree, but only after we have assurances that the dems will live by the 3 for 1 ratio, with no hidden gimmicks or dirty tricks later.

    And we should have a balanced budget amendment placed before the states for ratification.

    "So, go with 4 trillion in savings and call it a day."

    A increase in revenues via taxes does not constitute a savings. Thus it is a 3 trillion dollar savings.

    "Taxes do not create or destroy jobs...there is no relationship between the two numbers."

    Perhaps, I am however not convinced of this. I do know that uncertainty in the market and business sector does result in business holding on to capital that would create jobs were it spent on growing their business. Assuming the growth was here at home.

    "So, go with 4 trillion in savings and call it a day."

    As much as I find taxes but a necessary evil, and spending cuts an absolute must, as is a balanced budget, I would be less than honest If I didn't acknowledge I, and the rest of America could live with this if it gets our house in order.

    However, Obummer is wrong with the scare tactics and playing on the emotions and fears of the retired and elderly. It's politics as usual and Obummner is playing to win re-election in 2012. Something he absolutely does not deserve. IMO.

    ReplyDelete
  7. JMJ - It's a da*n good thing the dems ain't in control of the house. If they were the ratio might be 1 dollar in cuts for every 3 dollars in taxes.

    ReplyDelete
  8. You know RN you cannot be rational until you are objective. I am actually glad that Obama is using "scare" tactics in regards to the debt ceiling because the reality is you have to have money in the bank to pay social security and medicare on the day you pay them. Without the ability to borrow there is no guarantee that the money will be there for social security or medicare. If you borrow 40 cents of every dollar you spend then obviously if you cannot borrow any longer you can only pay 60% of your obligations....

    Lots of obligations will not be paid if you currently are borrowing 40 cents on a dollar....if interest on your debt is 9% of your outlays then the left over is even smaller.

    There will be times when the government WILL NOT be able to pay social security/medicare or will not be able to pay soldiers and veterans....

    That is NOT a scare but rather reality.....

    ReplyDelete
  9. If one were objective one would realize that one cannot continue to spend more than one has.

    The government lacks objectivity. Both flavors (parties) of government.

    Why?

    Because they know that the American taxpayer is their ultimate "bank", the body they look to tag again and again whenever necessary to pay for they spending. Often unnecessary, duplicative, useless, and to buy votes.

    As to social security and medicare, well there are certainly other spending lines that could be pinched. For starters how about Libya, a stupid and irresponsible expense the Potius forced upon the American taxpayers.

    But we dare not question the current Potius, he is the untouchable star of the extreme leftist wing of the Dumbacrat party. And after all... Blame Bush.

    Not that I have ever been a conspiracy theorist but the dots are connecting. This has been in the planning stages for years. It appears the time is now.

    Ah h*ll, time to go.

    ReplyDelete
  10. Donald in Bethel, CT

    @Les,

    You said:
    "If one were objective one would realize that one cannot continue to spend more than one has."

    I wish my personal household could just, you know, raise our debt ceiling when things get tough. Oh, but wait....my household lives within its means, we honor our debts (only the house is left to pay off!), and we do this nifty financial exercise called 'making a budget and sticking to it'.

    I don't care if it's a GOP regime or the current Dem regime -- you cannot spend 100 dollars when you only have 99. Our government is killing us. This regime is killing us.

    We deserve what we tolerate.

    ReplyDelete
  11. Donald in Bethel, CT

    @TAO,

    You said:
    "Taxes do not create or destroy jobs...there is no relationship between the two numbers."

    At first glance I agreed with this statement. However, it dawned on me, (and I am looking for your input here), if I have a small business that employs 20 people, (for the sake of a number), and then the government loosens the rate of business taxes I am forced to pay, wouldn't that make it possible for me then to hire more folks to work for me, thus 'creating' new jobs?

    Did that make sense? What say you?

    ReplyDelete

As this site encourages free speech and expression any and all honest political commentary is acceptable. Comments with cursing or vulgar language will not be posted.

Effective 8/12/13 Anonymous commenting has been disabled. This unfortunate action was made necessary due to the volume of Anonymous comments that are either off topic or serve only to disrupt honest discourse..

I apologizes for any inconvenience this necessary action may cause the honest Anonymous who would comment here, respect proper decorum and leave comments of value. However, The multitude of trollish attack comments from both the left and right has necessitated this action.

Thank you for your understanding... The management.