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That would mean that $750 billion in spending would need to be cut immediately, which would likely drive the nation into depression, because the world would own worthless debt. It would also mean that contractors don't get paid and likely the armed forces.
No it doesnt, it would simply mean that spending would continue, and they would default on the treasuries becoming due, but they would be able to just push them forward another month. The fact that we "shut down" normally doesnt mean its the only option..
No one forgot, but continue to pretend that Obama hasnt added more in his short term, than Bush did in his 8 years, and that includes the cost of the wars, if it makes you feel better.. It wont change facts..
Unlike Obama, Bush didn't inherit an economy on the verge of TOTAL COLLAPSE!
In fact, in January 2001, Clinton handed Bush a budget with a $236 BILLION SURPLUS.
In January 2009, Bush handed Obama a budget with a $1.3 TRILLION DEFICIT!
"The day the Bush administration took over from President Bill Clinton in 2001, America enjoyed a $236 billion budget surplus -- with a projected 10-year surplus of $5.6 trillion," Axelrod wrote. "When the Bush administration left office, it handed President Obama a $1.3 trillion deficit -- and projected shortfalls of $8 trillion for the next decade."
Quote:
His point was that it was Bush, not Obama, who got the country in a financial mess. And now, Axelrod wrote, the Obama administration is stuck with the bill.
Try running a country with a $1.3 TRILLION DEFICIT for several years, and notice how quickly the National Debt will grow!
Americans are more likely to oppose than favor raising the debt ceiling, regardless of how closely they are following the news about the issue. Among the 23% who are following the debt ceiling discussion very closely, 62% are opposed and 25% are in favor of raising the current ceiling. Among those who are following the issue less closely, opposition outnumbers support by at least a 2-to-1 margin.
Unlike Obama, Bush didn't inherit an economy on the verge of TOTAL COLLAPSE!
And the liberal re-writing of history continues. FAIL.. Obama didnt inherit an economy on the verge of total collapse either.. It collapsed before Obama took over, and the recovery was well on its way BEFORE Obama even signed the stimulus bill into law.. So much so that even Democrats were wondering if they should sign the bill..
Quote:
Originally Posted by RD5050
In fact, in January 2001, Bush was handed a budget with a $236 BILLION SURPLUS.
MORE LIES.. The "surplus" came because they BORROWED money against other off budgets.. You know all about off budget items right? You guys moaned and groaned about them during the Bush years..
BORROWING MONEY, and then claiming a surplus IS A LIE!!!
Quote:
Originally Posted by RD5050
In January 2009, Obama was handed a budget with a $1.3 TRILLION DEFICIT!
And CONGRESS CREATES DEFICITS.. Congress was Democratic
And if you want to pretend presidents are then to blame for deficits, tell me what Obamas stimulus bill did, along with other spending bills to the budgets? DONT BLAME BUSH FOR BUDGETS OBAMA SIGNED.. You just end up looking foolish..
I think that Obam's vote to not raise the debt ceiling when Bush was preasident makes it hard to believe. If its true then that would make Obama one stupid senator before becoming preident or wanting to bring the system down or really hate Bush.My guess is it would just make the governamnt make decison on where to spend the money as they take in enough to cover the debt payments and much more really.They would face making drastic cuts for sure.
I think that Obam's vote to not raise the debt ceiling when Bush was preasident makes it hard to believe. If its true then that would make Obama one stupid senator before becoming preident or wanting to bring the system down or really hate Bush.My guess is it would just make the governamnt make decison on where to spend the money as they take in enough to cover the debt payments and much more really.They would face making drastic cuts for sure.
Senator Obama: The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure.
Come on..all the fingerpointing and blaming won't change a thing.
It will not make the debt go away.
Both sides played this game to get us where we are today.
It didn't happen overnight. It was a slow erosion of surplus funds earmarked for other purposes and used to pay the normal government operating bills.
NO ONE is clean of this financial debacle. And it's silly to think otherwise.
And the liberal re-writing of history continues. FAIL.. Obama didnt inherit an economy on the verge of total collapse either.. It collapsed before Obama took over, and the recovery was well on its way BEFORE Obama even signed the stimulus bill into law.. So much so that even Democrats were wondering if they should sign the bill..
What a short memory. The economy was dropping like a led balloon during Obama's inauguration.
Our stock market plummeted during the next two months to a low of 6600 in mid March 2009.
Jobs were being lost in the hundreds of thousands.
Major banks were closing.
Companies were going bankrupt.
Houses were being foreclosed.
Yes ... the economy was on the verge of TOTAL COLLAPSE when Obama took office!
STRIKE ONE!
Quote:
Originally Posted by pghquest
MORE LIES.. The "surplus" came because they BORROWED money against other off budgets.. You know all about off budget items right? You guys moaned and groaned about them during the Bush years..
BORROWING MONEY, and then claiming a surplus IS A LIE!!!
So, what makes the budget in 2000, any different than any other year's budget?
Do you think this supposed "borrowed money" was only used the year Clinton left office, and at no other point during any other administration in history?
STRIKE TWO!
Quote:
Originally Posted by pghquest
And CONGRESS CREATES DEFICITS.. Congress was Democratic
Yes thats 0 for 3 for you..
The Congress was entirely Republican for FOUR YEARS during Bush.
And Bush ran HUGE DEFICITS during those years.
STRIKE THREE!
YOU'RE OUT!
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