Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 1

[Redfish]

The guy is totally ignorant on how the govt works.

If only ignorance was a basis for impeachment.

maybe he can get a corpseman from one of the 57 states to explain it to him

Actually, you and I disagree on this point. Barry is NOT ignorant on how this government works. Far from it. I personally believe that from day one, Barry has striven to bankrupt our system in order to "build it back up" in his "quasi-socialism/communism" model that his Father (Frank Marshall Davis) beat into his little head.

57 million on social programs. No jobs. No infrastructure. No economy. The Fed propping up the economy by buying 85 BILLION in bonds each MONTH. Government takeover of healthcare. No hope. Just more government spending as fast as it can spend - so it can spend more.

Anyone out there that doesn't believe that this is by design is suffering sorely from childish naïveté.

you may be right, which makes the whole thing much worse. If we have elected a guy who is determined to destroy the country, then----------------------we are done as a free democratic republic.

 

[NYcarbineer]

With a trillion dollar annual deficit,

that averages out to about 82 billion a month added to the debt. Once you have to stop adding debt

you have to come up with 82 billion a month in spending cuts.

Which Republican who's opposing a debt ceiling freeze has laid out those cuts,

in detail?

so whats your solution? just keep spending, go further in debt, destroy the economy? What do you think should be done?

Well, even moderate reasonable solutions aren't doable with the GOP House run by extremists,

but my solution (which might actually be implemented in a sane world) is to reinstate PAYGO in meaningfully strong and enforceable manner and let the growth of the economy raise revenues relative to spending.

 

[Redfish]

A plan that is not doable is not a solution. It's a fantasy. I told you that the last time you ran in this nonsense.

No one here has a workable plan to cope with freezing the debt ceiling where it currently is,

so reasonable people should stop talking about it as if there is a workable plan.

I actually think I have a fairly simple solution though again there is probably no politician will to do it. Basically it involves slashing government spending of course. Not getting too specific, but our military spending could be cut in half or more along with plenty of other things. Coupled with converting to a flat tax of somwhere between 15-20% on all income no matter how derived and elimination of all credits, deductions, loopholes, etc. I would bet the government would be taking in more money than it does now. increasing revenue that way and slashing spending we would be out of debt in no time. And keep in mind our debt doesn't have to be, nor should it be zero. Some debt is an okay and even good thing sometimes.

The only 'doable' thing at this point is do nothing, because Congress and the presidency are in a mutual death grip of paralysis.

btw, Paul Ryan never proposed a budget that could have avoided debt ceiling increases,

why are these radical Republicans now insisting that the Democrats sign onto something that even the GOP effectively acknowledged was impossible?

none of them want to propose what actually needs to be done because they know the fix would hurt almost every american-and destroy their chances for reelection.

staying in congress is more important than doing what is right for the country--------and that, my friend, is the crux of the problem.

 

[Foxfyre]

Another dishonest post.

You can call me a liar all you want, but if you can't prove it, you're just one more jabbering monkey.

The onus is on you to prove your claims.

He can't, but I think those who blindly support Obama whatever he does are those who share either Obama's total cluelessness when it comes to math, economics, or history or else his dishonesty, whichever it is.

"I want to be very clear," said President Barack Obama on July 18, 2009, in a weekly address to the nation. "I will not sign on to any health plan that adds to our deficits over the next decade."

He said it again at a Town Hall in Shaker Height, Ohio, five days later: "And I mean it," and again before a joint session of Congress two months later -- "period."

So, perhaps now the president can explain why the new report by the Congressional Budget Office said his national health care law will cost $1.76 trillion "over the next decade" rather than the $940 billion he said it would cost.
Obamacare Won?t Add a Dime to Deficit ? it Will Add $1.76 Trillion

And when you figure that every dollar in taxes is a dollar pulled out of the economy along with its multipling effect when it is left there, and that we only receive back about 30 cents on the dollar from the government--the rest is swallowed up by the huge government bureacracy--I think we wouldn't miss those tax revenues if Obamacare went into the rubbish bin where it belongs.

 

[Redfish]

With a trillion dollar annual deficit,

that averages out to about 82 billion a month added to the debt. Once you have to stop adding debt

you have to come up with 82 billion a month in spending cuts.

Which Republican who's opposing a debt ceiling freeze has laid out those cuts,

in detail?

so whats your solution? just keep spending, go further in debt, destroy the economy? What do you think should be done?

Well, even moderate reasonable solutions aren't doable with the GOP House run by extremists,

but my solution (which might actually be implemented in a sane world) is to reinstate PAYGO in meaningfully strong and enforceable manner and let the growth of the economy raise revenues relative to spending.

which democrat has proposed that? I think it might be a start, but its too mild and would take too many years before results would be seen.

expanding the economy by opening up drilling and fracking for oil and gas, removing punative taxes on business would encourage economic growth in this country, repealing obamacare would put people back in full time jobs.

if we can't cut spending then revenue must be increased, the only way to do that is to grow the economy.

the only way to grow the economy is to create a favorable business climate, but the problem with that is that obama and the dem/libs hate business and profit is evil.

 

[Foxfyre]

With a trillion dollar annual deficit,

that averages out to about 82 billion a month added to the debt. Once you have to stop adding debt

you have to come up with 82 billion a month in spending cuts.

Which Republican who's opposing a debt ceiling freeze has laid out those cuts,

in detail?

so whats your solution? just keep spending, go further in debt, destroy the economy? What do you think should be done?

Well, even moderate reasonable solutions aren't doable with the GOP House run by extremists,

but my solution (which might actually be implemented in a sane world) is to reinstate PAYGO in meaningfully strong and enforceable manner and let the growth of the economy raise revenues relative to spending.

It was doable when Obama had a veto proof majority in the House and Senate for two years too. But that Congress, with a most agreeable Obama who was breaking essentially every single campaign promise he made in the process, instead spent us into oblivion. They were so irresponsible the people wrested that super majority in the House from them and put the GOP back in there. Almost did the same in the Senate.

So just put your moral outrage back in your pocket please. The problem is NOT a GOP House run by extremists. You should be on your knees every single day giving praise to God that we at least have some checks and balances on what would otherwise be a 100% irresponsible Congress even if the restraint is motivated by partisanship rather than any kind of altruistic purpose.

 

[RandallFlagg]

The guy is totally ignorant on how the govt works.

If only ignorance was a basis for impeachment.

maybe he can get a corpseman from one of the 57 states to explain it to him

Actually, you and I disagree on this point. Barry is NOT ignorant on how this government works. Far from it. I personally believe that from day one, Barry has striven to bankrupt our system in order to "build it back up" in his "quasi-socialism/communism" model that his Father (Frank Marshall Davis) beat into his little head.

57 million on social programs. No jobs. No infrastructure. No economy. The Fed propping up the economy by buying 85 BILLION in bonds each MONTH. Government takeover of healthcare. No hope. Just more government spending as fast as it can spend - so it can spend more.

Anyone out there that doesn't believe that this is by design is suffering sorely from childish naïveté.

you may be right, which makes the whole thing much worse. If we have elected a guy who is determined to destroy the country, then----------------------we are done as a free democratic republic.

Our only saving grace,right now, is that Barry is quickly becoming "irrelevant". What I mean is that the communist left is now putting their collective hopes on the dyke Clinton. They are done with Barry.

Thats why I truly believe that the last "act" of Barry will be to influence the Fed to completely drop the buying of bonds around the time of the next election. He can walk away laughing and whomever takes over will have an economic mess TWICE as big as when Obama took office.

And yes, I feel that this country may, indeed, be on it's death throes as the last bastion of freedom in the world. It breaks my heart to say that, but frankly, I just can't see any way that we recover from what is coming.....

 

[Lonestar_logic]

Actually, you and I disagree on this point. Barry is NOT ignorant on how this government works. Far from it. I personally believe that from day one, Barry has striven to bankrupt our system in order to "build it back up" in his "quasi-socialism/communism" model that his Father (Frank Marshall Davis) beat into his little head.

57 million on social programs. No jobs. No infrastructure. No economy. The Fed propping up the economy by buying 85 BILLION in bonds each MONTH. Government takeover of healthcare. No hope. Just more government spending as fast as it can spend - so it can spend more.

Anyone out there that doesn't believe that this is by design is suffering sorely from childish naïveté.

you may be right, which makes the whole thing much worse. If we have elected a guy who is determined to destroy the country, then----------------------we are done as a free democratic republic.

Our only saving grace,right now, is that Barry is quickly becoming "irrelevant". What I mean is that the communist left is now putting their collective hopes on the dyke Clinton. They are done with Barry.

Thats why I truly believe that the last "act" of Barry will be to influence the Fed to completely drop the buying of bonds around the time of the next election. He can walk away laughing and whomever takes over will have an economic mess TWICE as big as when Obama took office.

And yes, I feel that this country may, indeed, be on it's death throes as the last bastion of freedom in the world. It breaks my heart to say that, but frankly, I just can't see any way that we recover from what is coming.....

The feds should never have been buying bonds in the first place.

 

[ilia25]

WTF??

You are confused because the whole notion of the debt limit does not make any sense. By rising the debt limit the Congress gives the government permission to do what the Congress has already instructed the Government to do.

E.g. the Congress tells the government -- "Go ahead, borrow X billions and buy that aircraft carrier". And when the Government complies and places the order with a shipbuilding company, the Congress can say -- "Wait a minute, we won't let you borrow the money to pay the bill".

If that is not an insanity, I don't know what is.

Oh, and using this insanity as a threat to extort some favors is just ridiculous.

 

[NYcarbineer]

so whats your solution? just keep spending, go further in debt, destroy the economy? What do you think should be done?

Well, even moderate reasonable solutions aren't doable with the GOP House run by extremists,

but my solution (which might actually be implemented in a sane world) is to reinstate PAYGO in meaningfully strong and enforceable manner and let the growth of the economy raise revenues relative to spending.

It was doable when Obama had a veto proof majority in the House and Senate for two years too. But that Congress, with a most agreeable Obama who was breaking essentially every single campaign promise he made in the process, instead spent us into oblivion. They were so irresponsible the people wrested that super majority in the House from them and put the GOP back in there. Almost did the same in the Senate.

So just put your moral outrage back in your pocket please. The problem is NOT a GOP House run by extremists. You should be on your knees every single day giving praise to God that we at least have some checks and balances on what would otherwise be a 100% irresponsible Congress even if the restraint is motivated by partisanship rather than any kind of altruistic purpose.

That actually never happened.

 

[NYcarbineer]

so whats your solution? just keep spending, go further in debt, destroy the economy? What do you think should be done?

Well, even moderate reasonable solutions aren't doable with the GOP House run by extremists,

but my solution (which might actually be implemented in a sane world) is to reinstate PAYGO in meaningfully strong and enforceable manner and let the growth of the economy raise revenues relative to spending.

which democrat has proposed that? I think it might be a start, but its too mild and would take too many years before results would be seen.

expanding the economy by opening up drilling and fracking for oil and gas, removing punative taxes on business would encourage economic growth in this country, repealing obamacare would put people back in full time jobs.

if we can't cut spending then revenue must be increased, the only way to do that is to grow the economy.

the only way to grow the economy is to create a favorable business climate, but the problem with that is that obama and the dem/libs hate business and profit is evil.

Proposing to cut taxes when our taxes are already below 16% of GDP is insane. Every explosion of the deficit in modern history has occurred when tax revenues fell below 19% of GDP.

 

[NYcarbineer]

You can call me a liar all you want, but if you can't prove it, you're just one more jabbering monkey.

The onus is on you to prove your claims.

He can't, but I think those who blindly support Obama whatever he does are those who share either Obama's total cluelessness when it comes to math, economics, or history or else his dishonesty, whichever it is.

"I want to be very clear," said President Barack Obama on July 18, 2009, in a weekly address to the nation. "I will not sign on to any health plan that adds to our deficits over the next decade."

He said it again at a Town Hall in Shaker Height, Ohio, five days later: "And I mean it," and again before a joint session of Congress two months later -- "period."

So, perhaps now the president can explain why the new report by the Congressional Budget Office said his national health care law will cost $1.76 trillion "over the next decade" rather than the $940 billion he said it would cost.
Obamacare Won?t Add a Dime to Deficit ? it Will Add $1.76 Trillion

And when you figure that every dollar in taxes is a dollar pulled out of the economy along with its multipling effect when it is left there, and that we only receive back about 30 cents on the dollar from the government--the rest is swallowed up by the huge government bureacracy--I think we wouldn't miss those tax revenues if Obamacare went into the rubbish bin where it belongs.

Most tax dollars are not pulled out of the economy. That's economically naive nonsense. Most tax dollars simply move from one portion of the economy to another.

When a billion dollars of taxes are collected, and then go to finance a weapons program in a defense plant in, say, Ohio,

how was that money 'pulled out of the economy'?

 

[peach174]

As for any of you who are claiming that repealing Obamacare is what needs to be done regarding the deficit,

remember,

when you repeal Obamacare, you also repeal the taxes that are funding Obamacare,

so your net impact on the deficit is minimal, if at all.

obamacare needs to be repealed because it is bad law and the american people do not want it and can't afford it.

There would be tremendous savings and the debt situation would improve somewhat---obviously that is not the only thing that needs to be done.

That is not the topic. The topic is keeping under the current debt ceiling.

Less than 40% of Americans want Obamacare repealed. That is not 'the American people'.

Obama Care is part of the Debt.
By a two-to-one margin, 56% to 26%, voters want the president to delay implementation of the individual mandate.
The Republicans are listening to the majority of the people and they want Obama Care defunded for a year. We deserve a reprieval just like the Businesses are.

 

[jknowgood]

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

So you dont think Obama is not going to spend that increase. Wow you cant be that dumb . It might rise the debt right away but it WILL END UP RAISING THE DEBT because OBAMA will use that increase for something . Probably more golf games or vacations for himself

Or mrs obama getting all that fat sucked out her ass.

 

[ilia25]

if we can't cut spending then revenue must be increased, the only way to do that is to grow the economy.

the only way to grow the economy is to create a favorable business climate, but the problem with that is that obama and the dem/libs hate business and profit is evil.

Those are right-wing talking points that have nothing to do with reality. Obama does not hate business any more that Clinton did. In fact Obama is way to close to the Wall street types.

The economy is in depression because this is what a market based economy does after being hit with a strong enough shock (like 2008 financial crisis). There are ways to quickly bring it back to the full employment -- the fiscal and monetary stimulus -- but Republicans are blocking any feeble attempts in that direction. Even worse, they successfully push for policy that prolongs the depression, like the sequestration.

 

[Foxfyre]

you may be right, which makes the whole thing much worse. If we have elected a guy who is determined to destroy the country, then----------------------we are done as a free democratic republic.

Our only saving grace,right now, is that Barry is quickly becoming "irrelevant". What I mean is that the communist left is now putting their collective hopes on the dyke Clinton. They are done with Barry.

Thats why I truly believe that the last "act" of Barry will be to influence the Fed to completely drop the buying of bonds around the time of the next election. He can walk away laughing and whomever takes over will have an economic mess TWICE as big as when Obama took office.

And yes, I feel that this country may, indeed, be on it's death throes as the last bastion of freedom in the world. It breaks my heart to say that, but frankly, I just can't see any way that we recover from what is coming.....

The feds should never have been buying bonds in the first place.

Right. They shouldn't. But because they have, they have created another massive stock bubble and the minute they stop doing it, that bubble will likely burst and we will see another massive stock crash.

It's the same kind of illlogic and disconnect that would allow Fearless Leader, the smartest man in the world, to say something like raising the debt ceiling won't increase the deficit.

 

[RandallFlagg]

Our only saving grace,right now, is that Barry is quickly becoming "irrelevant". What I mean is that the communist left is now putting their collective hopes on the dyke Clinton. They are done with Barry.

Thats why I truly believe that the last "act" of Barry will be to influence the Fed to completely drop the buying of bonds around the time of the next election. He can walk away laughing and whomever takes over will have an economic mess TWICE as big as when Obama took office.

And yes, I feel that this country may, indeed, be on it's death throes as the last bastion of freedom in the world. It breaks my heart to say that, but frankly, I just can't see any way that we recover from what is coming.....

The feds should never have been buying bonds in the first place.

Right. They shouldn't. But because they have, they have created another massive stock bubble and the minute they stop doing it, that bubble will likely burst and we will see another massive stock crash.

It's the same kind of illlogic and disconnect that would allow Fearless Leader, the smartest man in the world, to say something like raising the debt ceiling won't increase the deficit.

I find it literally amazing that people know what's coming yet, they just don't seem to care. Absolutely unbelievable. It's like when the experts warned us repeatedly, over and over, at the top of their lungs that Fannie and Freddie were going to fail yet the democrats kept telling us "everything is OK".

In the words of Yogi Berra: "it's déjà vu all over again".

The other thing that amazes me is democrats have heard Barry state that "raising the debt ceiling is due to a lack of leadership" when referring to Bush, yet they have no problem whatsoever with Barry now lying through his teeth by stating that "raising the debt ceiling won't increase the national debt".

Dems, this is YOUR hero here. You must be so proud.

 

[asaratis]

Obama would be well pleased if the debt ceiling was abolished altogether. Then he could more quickly spend us into irreversible bankruptcy...his plan from day one.

Obama is a goddamned Marxist!

 

[Caroljo]

Raising the debt ceiling is not a spending program, therefore it cannot itself add to the debt.

Except they say they need to raise the debt ceiling....and it isn't so they can spend more, it's to cover WHAT THEY'VE ALREADY SPENT. The raising of the ceiling will pay for what our government have already "over spent", then a year from now they'll ask for it again to cover what our government over spent AGAIN. We're screwed.......

 

[Caroljo]

Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 1
WTF??

What a genius

-Geaux

Why do rw's believe that raising the debt ceiling increases the debt?

We've been here before but apparently, the rw's can't remember what they learned the last time.

The money has already been spent.

Raising the debt ceiling is our legal agreement to pay the debt that (ALL of congress) already borrowed.

Using the Visa analogy above ... When you applied for the Visa card, you did not incur debt but you did legally agree to pay any debt you incurred using the Visa card.

When you do your budget....do you spend the money BEFORE you've earned it? Then why do we let our government spend OUR money before they've even earned it? What is it spent on? Why are we just giving our government free reign of OUR visa card?

I say tough shit...let them figure out how to pay for it. This should piss you off too....