Tea Party to Raise Debt Limit?

[LiberalNut]

It might galvanize the nation behind the TP and the GOP if they do, or it may backfire.

If history is any guide, it would certainly backfire. The simplest way to get people to recognize the need for government is to shut it down for a little while.

Everything did change last night

Nope. A bunch of misinformed people were pissed at the state of the economy and took it out on the party in power. That's it. All they want is jobs, that's it. If the Reugs don't deliver them, as their philosophy won't of course, bye, bye majority in the house.

 

[LiberalNut]

Only one of the Tea Party candidates could have been considered a libertarian, and he didn't run as one.

Of course he didn't. He became a politician right before our eyes, right after the primary. Meet the new boss, same as the old boss.

There is no libertarian agenda from the Tea Party.

There is no agenda for the Tea Party period.

 

[Mr.Fitnah]

Cut spending and when SEIU starts the riots, put them under the jail.

 

[Kevin_Kennedy]

Only one of the Tea Party candidates could have been considered a libertarian, and he didn't run as one.

Of course he didn't. He became a politician right before our eyes, right after the primary. Meet the new boss, same as the old boss.

There is no libertarian agenda from the Tea Party.

There is no agenda for the Tea Party period.

If there is no agenda why did you mention a supposed libertarian agenda?

 

[LiberalNut]

why did you mention a supposed libertarian agenda?

Because that's what the wack-jobs on this board think the Tea Party is about. And, that's what the corporate interests who actually created and funded the Tea Party want it to be about.

It's about the Koch brother wanting to kill environmental protection, green energy and them getting tax cuts.

 

[Kevin_Kennedy]

why did you mention a supposed libertarian agenda?

Because that's what the wack-jobs on this board think the Tea Party is about. And, that's what the corporate interests who actually created and funded the Tea Party want it to be about.

It's about the Koch brother wanting to kill environmental protection, green energy and them getting tax cuts.

I don't think anybody here thinks the Tea Party is libertarian. I think they all know it's conservative.

 

[Stephanie]

Only one of the Tea Party candidates could have been considered a libertarian, and he didn't run as one.

Of course he didn't. He became a politician right before our eyes, right after the primary. Meet the new boss, same as the old boss.

There is no libertarian agenda from the Tea Party.

There is no agenda for the Tea Party period.

lol,

 

[Annie]

Which of the newly elected Senators and Representatives are you putting into the 'tea parties' bandwagon? Not all were you know.

Marco Rubio
Rand Paul
John Boozman
Mike Lee
and the jury's still out on Joe Miller.

Now who are you asking about?

Most of the tea party 'victories' were at the local and state level, where one would expect a nascent political movement. Were those that participated voting for others? Of course. Were those inspired by the positions put forward by the movement also moved to vote for others claiming to believe the same? Of course.

The above will certainly be watched, but also will be those GOP guys elected on the movement's coattails.

 

[Chris]

If we had a fiscally responsible government, we wouldn't have to have a vote on whether to raise it.

Do you raise your own credit limit? No. You run out of money, you bite the bullet. We have some hard days ahead. We are ready for them. Are you?

We had a fiscally responsible government.

His name was Bill Clinton.

Then came Bush the Lesser who doubled the National Debt by lowering taxes for the rich just like Reagan.

Now Obama is trying to be fiscally responsible again. Hopefully the Republicans will help him.

 

[Zander]

Leave it to the self described "liberal nut" to parrot the MSNBC talking points from last night like it is some big "Gotcha" question.

 

[Soggy in NOLA]

If we had a fiscally responsible government, we wouldn't have to have a vote on whether to raise it.

Do you raise your own credit limit? No. You run out of money, you bite the bullet. We have some hard days ahead. We are ready for them. Are you?

We had a fiscally responsible government.

His name was Bill Clinton.

Then came Bush the Lesser who doubled the National Debt by lowering taxes for the rich just like Reagan.

Now Obama is trying to be fiscally responsible again. Hopefully the Republicans will help him.

How was Bill Clinton fiscally responsible?

 

[Soggy in NOLA]

National Debt & Deficits under the fiscally responsible Bill Clinton:

Fiscal Year / Year Ending / National Debt / Deficit
FY1993 / 09/30/1993 / $4.411488 trillion
FY1994 / 09/30/1994 / $4.692749 trillion / $281.26 billion
FY1995 / 09/29/1995 / $4.973982 trillion / $281.23 billion
FY1996 / 09/30/1996 / $5.224810 trillion / $250.83 billion
FY1997 / 09/30/1997 / $5.413146 trillion / $188.34 billion
FY1998 / 09/30/1998 / $5.526193 trillion / $113.05 billion
FY1999 / 09/30/1999 / $5.656270 trillion / $130.08 billion
FY2000 / 09/29/2000 / $5.674178 trillion / $17.91 billion
FY2001 / 09/28/2001 / $5.807463 trillion / $133.29 billion

 

[LiberalNut]

Those numbers are wrong Soggy as they count treasury bonds in the SS trust fund as federal debt. They aren't. When revenues are more than outlays, the budget is in surplus.

 

[Soggy in NOLA]

Looks like he left office $1.4 trillion more in debt than when he arrived.

 

[LiberalNut]

Soggy, take some money out of your savings account tomorrow and put it in your checking account. Then write an IOU (with a promise of interest) to your savings account and put it in a safety deposit box. Then come back and tell me if you have acquired debt.

 

[Soggy in NOLA]

Clinton deficit spent every year in office. PERIOD. But he paid down the public debt by borrowing far more money in the form of intragovernmental holdings (mostly Social Security).

It's like saying, I make $50k, I spend $60k, but I didn't borrow I just took $10k from the trustfund I managed.... It was all smoke and mirrors.

 

[Soggy in NOLA]

Soggy, take some money out of your savings account tomorrow and put it in your checking account. Then write an IOU (with a promise of interest) to your savings account and put it in a safety deposit box. Then come back and tell me if you have acquired debt.

Analogy is all wrong... the money in my savings isn't an obligation owed to someone else. If it were,then at some point I'd have to come up with the money... then it becomes an unfunded liability. Still debt.

 

[Soggy in NOLA]

BTW.. try that shit in the private sector... it's called pension fraud.

 

[LiberalNut]

Clinton deficit spent every year in office. PERIOD.

Wrong. When revenues are more than outlays, your budget is in surplus. Period.

he paid down the public debt

Which would mean the budget had to be in surplus. If it had been in deficit, he would have added to public debt.

intragovernmental holdings

If you take money from your savings account and put it in your checking account, have you acquired debt? yes or no.

I make $50k, I spend $60k, but I didn't borrow I just paid $10k less on my O/S loans.

No. It's like, one of my accounts was in surplus and the other was in deficit so I transfered money from one account to another. The net result was that i could pay down on the credit card.

 

[skookerasbil]

It's one of the first votes the New Congress will have to make. The real world will hit the tea party demagogues on day one. They will have to vote to raise the debt limit or face the almost imediate trainwreck of the economy if they don't.

What will they do? Stick to principles and bring on the double dip immediately or do what needs to be done and have one of their first acts in power be raising the debt limit?

I'll take the latter for 1000 Alex.

Will you understand then wingnuts?

I doubt it.