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We should focus on jobs, grow the economy, and than worry about the deficit and debt. Austerity has been a disaster, yet it seems republicans are intent going down that path.
So now we can go on spending more than we take in with not a care in the world.
The President is in no way suggesting that. The idea is a balanced approach to fiscal measures. The GOP is not balanced in the least. What they want is to use this, "Faux crisis" to implement their extreme social engineering plans returning the country to something very much resembling the golden age.
That is 100% of what drives everything this bunch of AZZHATS say and so.
"I never thought I’d write these words, but here goes: Thank you, John Boehner. Thank you, Mr. Speaker, for finally admitting on national television that all the fiscal cliffs, sequestrations and budget battles you’ve created are, indeed, artificially fabricated by ideologues and self-interested politicians and not the result of some imminent crisis that’s out of our control.
"America owes this debt of gratitude to Boehner after he finally came clean on yesterday’s edition of ABC’s “This Week” and admitted that “we do not have an immediate debt crisis.” (His admission was followed up by Budget Committee Chairman Paul Ryan, who quickly echoed much the same sentiment on CBS’ “Face the Nation”)."
We don't, in the context of not being able to make our obligations or losing our crediting rating next month. Currently, as in the next six months, we can make the debt payments, and our credit rating is not in immediate danger of dropping again.
We do need to change our path, we need to get spending under control because in the near future we will have a huge problem on our hands. When interest rates go up, if we do not reduce our debt we will be in serious trouble. Our payments on servicing the debt could be $800 billion or more a year, we could lose our AA credit rating, and be forced to borrow and print our way to Greece.
The President is in no way suggesting that. The idea is a balanced approach to fiscal measures. The GOP is not balanced in the least.
What balanced approach is that, spend and tax, instead of tax and spend?
Quote:
Originally Posted by lucknow
What they want is to use this, "Faux crisis" to implement their extreme social engineering plans returning the country to something very much resembling the golden age.
That is 100% of what drives everything this bunch of AZZHATS say and so.
So what is your plan, wait until we hit $20 trillion in debt, and $120 trillion in unfunded obligations, and QE7 is printing $150 billion a month?
We don't, in the context of not being able to make our obligations or losing our crediting rating next month. Currently, as in the next six months, we can make the debt payments, and our credit rating is not in immediate danger of dropping again.
We do need to change our path, we need to get spending under control because in the near future we will have a huge problem on our hands. When interest rates go up, if we do not reduce our debt we will be in serious trouble. Our payments on servicing the debt could be $800 billion or more a year, we could lose our AA credit rating, and be forced to borrow and print our way to Greece.
You know, at some point, you guys are going to have to come up with some other fear tactic, than "we are going to be come Greece". You've been saying that for 4 years now. Inflation is still low, interest rates are at 0, our borrowing cost are low, that doesn't sound like Greece to me. Can you please tell me on what day we become Greece, because you guys are starting to sound like the boy who cries wolf. You're own leaders acknowledge we don't have a current debt crisis.
No. What I would argue for is that we should cut spending wherever possible, streamline what the government does, reform entitlements, and get rid of spending in the tax code and cap deductions.
So why does Obama oppose this idea? In 2008 he said his admin was going to go over the budget with a fine toothed comb and cut waste. It took the Republican congress to task Obama's GAO to do this for Obama, and in 2011 they presented Obama with a report that cuts $150 billion a year out of the budget. So why is Obama's chaotic sequester policies cutting tours and vaccinations for kids and releasing prisoners, instead of making the cuts his own admin suggested?
You know, at some point, you guys are going to have to come up with some other fear tactic, than "we are going to be come Greece". You've been saying that for 4 years now. Inflation is still low, interest rates are at 0, our borrowing cost are low, that doesn't sound like Greece to me. Can you please tell me on what day we become Greece, because you guys are starting to sound like the boy who cries wolf. You're own leaders acknowledge we don't have a current debt crisis.
You act as if nothing i said was true. It's not a scare tactic, $20 trillion in debt is where we are headed by 2016. Interest rates cannot be held artificially low forever, and when they do go up, which they must, what will our debt be, and will we chew up $800 billion a year out of our federal budget to service the debt? It's not crying wolf when there really is a freaking wolf.
Greece is just a metaphor, for an irresponsible and over extended national economic policy.
When the world loses faith in the US because all we do is borrow and spend, with no end in sight, they will dump the US dollar as the world's currency, and we will be up the creek without a paddle.
The first time i voted my Mentor was saying this crap back then about the debt. Truth over the years is evident.We are still here and the world has not came crashing down around us. Sorry as hell i voted for Nixon.
So is the argument that something should be addressed only after it has became a crises? Is that good government? We did the right thing by addressing the housing mess by waiting until after it became a crises?
OP, you can own that message if you like. I want nothing to do with it.
Exactly. A crisis is a foreclosure on your house. But should you only worry about saving your house AFTER you get the foreclosure notice? Of course not. You identify that there is an imminent crisis, then take steps to avoid it.
Or, as this administration does, see the crisis coming, and moan and groan about how you're going to have to cut off gas and electric to pay your bills, while you stock the fridge with caviar and champagne, then steal the money from your rich neighbor to pay your mortgage.
You act as if nothing i said was true. It's not a scare tactic, $20 trillion in debt is where we are headed by 2016. Interest rates cannot be held artificially low forever, and when they do go up, which they must, what will our debt be, and will we chew up $800 billion a year out of our federal budget to service the debt? It's not crying wolf when there really is a freaking wolf.
It is a scare tactic, when republicans keep saying we're going to become greece anyday now. At some point, either we become greece, or your warnings are just noise. We do have a debt problem, but austerity has been a disaster, yet you guys keep saying we need to cut, cut, cut, cut. How about we grow the economy, and when we put more people back to work, you become a deficit hawk.
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