House GOP set to reject debt ceiling increase

[Political Junky]

If only we could collect taxes on the $Trillions being held in tax sheltered offshore accounts.

 

[JimH52]

If only we could collect taxes on the $Trillions being held in tax sheltered offshore accounts.

Or if GE paid taxes and we didn't subsidize the oil industry. But the GOP doesn't want to let the big oil lobbiest down. Beaner won't be handing out more "vote" checks if the hand outs go away.

 

[Oddball]

If only we could collect taxes on the $Trillions being held in tax sheltered offshore accounts.

See if you can slide that one past that Jay Rockefeller dude...Then get back to us.

 

[Oddball]

No, its a default when you cannot pay your creditors. Then things go to Hell...literally.

Federal gubmint is taking in plenty of money to pay their creditors.....To the tune of $3 trillion.

Try again.

So, then let's forget about the debt ceiling. Let it pass and when we can't pay the Chinese, let's see what happens. Wait, maybe the GOP will get its wish and throw old people out in the streets. Then they can't vote!

 

[JimH52]

Democrats: No pay for lawmakers if U.S. defaults - May. 31, 2011

Dems put up salaries. Now its the GOP's turn.

 

[Trajan]

Actually GW Bush nealry doubled the deficit during his eight years. Read Below

On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That's a 71.9 percent increase on Mr. Bush's watch.

Bush Administration Adds $4 Trillion To National Debt - Couric & Co. - CBS News


UPDATED: Debt Ceiling Limits (1939- 2011) | The Big Picture

• G.O.P. Strategy On Debt Ceiling (March 1, 2002)
Republican leaders in the House told the Bush administration that they did not have enough votes to increase the legal limit on the national debt and urged the White House to attach the measure to another piece of popular legislation, possibly a supplemental military appropriations bill. The administration has asked Congress to raise the debt limit by $750 billion, to $6.7 trillion, by the end of March, when the government is likely to breach the limit. Richard W. Stevenson
~
• Bush Seeks Increase in National Debt Limit (December 25, 2002)
The Bush administration asked Congress today to approve another increase in the limit on national debt, saying it will run out of the authority to borrow money by late February.
The deputy Treasury secretary, Kenneth W. Dam, in a letter to the House speaker, J. Dennis Hastert, cited the cost of combating terrorism and the economic slowdown for the government’s growing indebtedness.
The federal government, which enjoyed a budget surplus as recently as two years ago, had a shortfall of $157 billion this year and is expected to have a larger one in 2003.
Congress raised the government’s debt limit in July by $450 billion, to a total of $6.4 trillion, but administration officials predicted even then that they would need to raise the limit again by some time next year.

• As U.S. Debt Ceiling Is Reached, Bush Administration Seeks to Raise It Once Again (October 15, 2004)
Less than a day after President Bush implied that Senator John Kerry lacked ”fiscal sanity,” the Bush administration said on Thursday that the federal government had hit the debt ceiling set by Congress and would have to borrow from the civil service retirement system until after the elections.
Federal operations are unlikely to be affected because Congress is certain to raise the debt limit in a lame-duck session in November. Congressional Republicans had wanted to avoid an embarrassing vote to raise the debt ceiling just a few weeks before Election Day.
Since Mr. Bush took office in January 2001, the federal debt has increased about 40 percent, or $2.1 trillion, to $7.4 trillion. Congress has raised the debt ceiling three times in three years, raising it most recently by $984 billion in May 2003.
~
• Senate Approves Budget, Breaking Spending Limits (March 16, 2006)
The Senate narrowly approved a $2.8 trillion election-year budget Thursday that broke spending limits only hours after it increased federal borrowing power to avert a government default.
The budget decision at the end of a marathon day of voting followed a separate 52-to-48 Senate vote to increase the federal debt limit by $781 billion, bringing the debt ceiling to nearly $9 trillion. The move left Democrats attacking President Bush and Congressional Republicans for piling up record debt in their years in power.
~
• Bush signs sweeping housing bill (July 30, 2008)
President George W. Bush signed into law on Wednesday a huge package of housing legislation that included broad authority for the Treasury Department to safeguard the nation’s two largest mortgage finance companies and a plan to help hundreds of thousands of troubled borrowers avoid losing their homes.

The law authorizes the Treasury to rescue the mortgage finance giants, Fannie Mae and Freddie Mac, should they verge on collapse, potentially by spending tens of billions in federal monies. Together, the companies own or guarantee nearly half of the nation’s $12 trillion in mortgages.
To accommodate the rescue plan for the mortgage companies, the bill raises the national debt ceiling to $10.6 trillion, an increase of $800 billion. The bill also creates significant liabilities and risks for taxpayers, that are virtually impossible to calculate.

So the ceiling went from 5.727 Trillion to 10.6 Trillion during Bush's tenure. And the Republicans, with their nose rings, went right along with him...

As has been pointed out many times, the Democrats were in charge of the Senate from 2006 on. That means that the Democrats are the ones that went along with the increasing Bush deficit that you are now crying about. They should have stood up and said no way back then when Obama first gave his little speech about how raising it showed a lack of leadership.

I think it is great that someone is finally standing up for the little guy here.

no, you see the way they look at it now, because, bush didn't veto their budgets, hes responsible....see how that works?

bush added with a rep. congress 3 trillion jn debt in 6 years. the dems had it all for 2 years under obama and congress for the 2 preceding under bush....whats their tab? what are they responsible for? In dems eyes? Zip zero nada....what a crock.

*gasp*

 

[Trajan]

Democrats: No pay for lawmakers if U.S. defaults - May. 31, 2011

Dems put up salaries. Now its the GOP's turn.

wow wee!! gadzooks!!!!!! salaries?

well there it is, we're done here, its a Weiner! oops, I meant winner!!!!!!!!!!!!

 

[Trajan]

If only we could collect taxes on the $Trillions being held in tax sheltered offshore accounts.

better would be declaring a moratorium ala Bush and have it repatriated, some milk is better than none....

 

[Quantum Windbag]

House set to reject debt ceiling increase - CNN.com

I say...LET'S PLAY CHICKEN! How many of you are prepared to pay 25% interest rates?

Exactly how many times and in how many ways did the House and Senate Repugs, with great understanding, camera's rolling and live mic's, vote to block raising the debt ceiling under the Shrub?

None is the answer.

Which ones?

 

[Trajan]

AHAHAHAHA!!!!!!!!


82 Democrats voted with the GOP to defeat the debt ceiling incease.

In a symbolic vote to send a message to budget negotiators, the House on Tuesday defeated a measure to raise the national debt ceiling without any accompanying deficit or spending reduction provisions.

The Republican-controlled House voted 318-97 on the legislation that would have raised the federal government's debt limit by approximately $2.4 trillion.

House rejects debt ceiling increase, 318-97 - CNN.com

Roll call vote:

http://clerk.house.gov/evs/2011/roll379.xml

 

[JimH52]

House set to reject debt ceiling increase - CNN.com

I say...LET'S PLAY CHICKEN! How many of you are prepared to pay 25% interest rates?

Exactly how many times and in how many ways did the House and Senate Repugs, with great understanding, camera's rolling and live mic's, vote to block raising the debt ceiling under the Shrub?

None is the answer.

It is all Theater...

 

[auditor0007]

If we don't do something about cutting government spending and debt now, 25% rates will look cheap.

You won't have to wait if the GOP blocks the raise. It will be in August. When GW raised the ceiling, not a word....

GW didn't increase Federal Debt by $5T in two years, nor did he run $1T+ deficits for as far as the eye can see. Obama voted against raising the debt ceiling when Bush was President. He should support not raising it now.

Less than 50% of the deficits we are seeing are due to spending increases of which the greatest number comes from military spending. Over 50% are due to drops in revenue due to massive tax cuts. Cut military spending back to a reasonable level, get us the hell out of Afghanistan and Iraq, and raise taxes back to reasonable levels, and we will have a balanced budget or close again. And quit blaming Obama for all of this as it was Bush and the Republicans that started the unfunded wars while cutting taxes.

 

[auditor0007]

House set to reject debt ceiling increase - CNN.com

I say...LET'S PLAY CHICKEN! How many of you are prepared to pay 25% interest rates?

Maybe if the Democrats had had the balls to do this back when Bush was spending all that money we would never have had a recession.

Just something to think about.

As I recall, the Dems did not have control of the House or Senate at that time.

 

[confussed]

I see a lot key strokes have waisted on this topic, not unlike our congress who is srtoking off the American People. These clowns should be held in malicous contempt against the American People.
Want your country back then take it back .

 

[auditor0007]

Oh, I want Obama and the Democrats to let the GOP vote to default the Country. I think it would be a great political move for them. Everyone will remember who voted NO....again.

It's not a default if you quit spending more than you take in.

No, its a default when you cannot pay your creditors. Then things go to Hell...literally.

I guess if we don't raise the debt ceiling, then we'll just have to raise taxes enough to cover our spending. Yes we can make cuts, but not enough to cover the deficit. What we should do is ask what Ronald Reagan would have done. As governor of California, he raised taxes dramatically. That's right, Reagan was not an idiot.

Bennet Kelley: Can Reagan Save the Golden State (from the GOP?)

 

[kiwiman127]

Well, I see some posters just got facts completely wrong to make their case. Maybe they should look up facts before they post?

Example 1, boedicca in Post 5 posted; [B]"GW didn't increase Federal Debt by $5T in two years[/B], nor did he run $1T+ deficits for as far as the eye can see. Obama voted against raising the debt ceiling when Bush was President. He should support not raising it now."
But in real life, on the first day of Obama's first budget which started on October 1st, 2009 the National Debt was 11,920,519,164,319.42. Today the National Debt is 14,364,138,797,576.45, the difference rounded off is a little under 2.5 trillion dollars, in other words about half of boedicca's claim. A two and half trillion increase in two years is still way too much. And yes, Obama should consider sticking with a ceiling.

The number 2 factually incorrect claim was by Quantum Windbag with Post 15. Here's the post; "As has been pointed out many times, the Democrats were in charge of the Senate from 2006 on. That means that the Democrats are the ones that went along with the increasing Bush deficit that you are now crying about. They should have stood up and said no way back then when Obama first gave his little speech about how raising it showed a lack of leadership"
The Dems didn't take control until January 2007 and their first budget didn't start until October 1st of 2007. The rest of the post is right on, the Dems didn't do a thing about the spending. They whined about GWB's spending during the election but then turned around and continued the outrageous spending.
So peoiple want top point fingers at the other side? Maybe they should look at their side's spending and borrowing habit.
As it's usually the case, both the GOP and the Dems are responsible for where we are today with our National Debt.

 

[Old Rocks]

Again, any time we have more than 250 service people in combat, the tax structure reverts to that of WW2. Not only would it prevent any further unneccessary wars, it would bring in enough money by the time we could pull out troops out of Iraq and Afghanistan to pay much of this years deficit.

 

[Old Rocks]

Federal gubmint is taking in plenty of money to pay their creditors.....To the tune of $3 trillion.

Try again.

So, then let's forget about the debt ceiling. Let it pass and when we can't pay the Chinese, let's see what happens. Wait, maybe the GOP will get its wish and throw old people out in the streets. Then they can't vote!

We can vote even when we're dead. Ask a demonRat.

You would know. You are already braindead.

 

[Oddball]

Want to end some "unnecessary wars" and save some big money?

Let's start with the "wars" on poverty and (some) drugs.

 

[Truthseeker420]

House set to reject debt ceiling increase - CNN.com

I say...LET'S PLAY CHICKEN! How many of you are prepared to pay 25% interest rates?

If we don't do something about cutting government spending and debt now, 25% rates will look cheap.

But Republicans will not touch the Military Industrial welfare or Corporate Welfare or Welfare to Israel.