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Old 07-20-2011, 08:53 AM
 
Location: Gone
25,230 posts, read 15,716,157 times
Reputation: 5921

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Quote:
Originally Posted by clue View Post
Just watch, the debt ceiling will be raised, if historical indicators are anything to go on.

And eventually USA will default, and take the living standards of Americans down with it.
Not one credible economist is saying we will default and everyone I have heard says the debt ceiling must be raised.
Casper
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Old 07-20-2011, 08:53 AM
 
57,048 posts, read 32,132,382 times
Reputation: 18824
Quote:
Originally Posted by maja View Post
House Passes Cut, Cap and Balance Bill | TheBlaze.com

" Defying a veto threat, the Republican-controlled House voted Tuesday night to slice federal spending by $6 trillion and require a constitutional balanced budget amendment to be sent to the states in exchange for averting a threatened Aug. 2 government default."
It's dead on arrival.

Now on to more meaningful news.........
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Old 07-20-2011, 08:54 AM
 
Location: Gone
25,230 posts, read 15,716,157 times
Reputation: 5921
Quote:
Originally Posted by Backspace View Post
Veto it you moron, please veto it.
Never get passed the Senate, only morons think that bills go directly to the President from the House. Dead on arrival is the correct term.
Casper
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Old 07-20-2011, 09:32 AM
 
48,464 posts, read 20,948,365 times
Reputation: 11724
Quote:
Originally Posted by A_Lexus View Post
Idiotic bill by clueless Republicans in the House is embarrassing. They continue to make fools of themselves when it was clearly evident during the Bush years that Republicans know nothing about the economy or balancing budgets.

These Pubs sat silent picking the toejam out of their toes while Bush spent mightily and wrecked the country economically. This bill obviously one that stinks. Shameful times we live in now with the current Republican representation. The bill reeks of GOP toejam.
I think some people need to look in a mirror when calling others fools.

You can keep spewing the same garbage and some will believe you. What a shame.

I hate to break your hatred bubble but,:

Publication: Business Wire
Date: Friday, January 4 2008

More Than 8.3 Million Jobs Created Since August 2003 In Longest Continuous Run Of Job Growth On Record

WASHINGTON -- Today, the Bureau of Labor Statistics released new jobs figures - 18,000 jobs created in December. Since August 2003, more than 8.3 million jobs have been created, with more than 1.3 million jobs created throughout 2007. Our economy has now added jobs for 52 straight months - the longest period of uninterrupted job growth on record. The unemployment rate remains low at 5 percent. The U.S. economy benefits from a solid foundation, but we cannot take economic growth for granted and economic indicators have become increasingly mixed. President Bush will continue working with Congress to address the challenges our economy faces and help facilitate long-term economic growth, job growth, and better standards of living for all Americans.

The U.S. Economy Benefits From A Solid Foundation

* Real GDP grew at a strong 4.9 percent annual rate in the third quarter of 2007. The economy has now experienced six years of uninterrupted growth, averaging 2.8 percent a year since 2001.

* Real after-tax per capita personal income has risen by 11.7 percent - an average of more than $3,550 per person - since President Bush took office.

* Over the course of this Administration, productivity growth has averaged 2.6 percent per year. This growth is well above average productivity growth in the 1990s, 1980s, and 1970s.


And when did the Bush economy start to fall? When the dems took control of Congress. look iy up.
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Old 07-20-2011, 09:39 AM
 
48,464 posts, read 20,948,365 times
Reputation: 11724
Quote:
Originally Posted by Casper in Dallas View Post
As has become their habit lately, the GOP is off doing their thing without working with the rest of the government even though they know the Senate will kill it. It is called PANDERING folks. If they do not want to wheel and deal then nothing will get passed and if you believe the voters will blame the Dems you are either a politcal hack or and idiot, you pick.
Just have to add, The Blaze is an ultra right-wing rag not worth the time of day.
Casper
You have me confused. The House is a separate branch of Congress. They work amongst themselves. They vote. Majority wins. Then the bills they pass go to the Senate where they do their thing.

So, who are they supposed to work with in crafting and passing bills?

Second, if they did nothing, like the Senate has done for several years you would be complaining they aren't doing anything.

I don't read you complaining about the Senate which is doing nothing.

You aren't being biased are you?
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Old 07-20-2011, 10:42 AM
 
Location: Del Rio, TN
36,293 posts, read 22,414,067 times
Reputation: 22669
Cut, cap and balance...isn't that what most reasonably intelligent people do with their own spending patterns? Specifically not to continually spend more than they make? Why is it so hard for politicians to be held to these same standards? CCB does allow the debt limit to rise, just like Obama wants, and is a minor, comon sense step for a fiscally viable future for this country. Too bad the Senate and Obama want to play partisian politics with this countries future, in order to buy votes. Have some honor and sense of responsibility and pass this bill!
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Old 07-20-2011, 11:09 AM
 
Location: Gone
25,230 posts, read 15,716,157 times
Reputation: 5921
Quote:
Originally Posted by Quick Enough View Post
You have me confused. The House is a separate branch of Congress. They work amongst themselves. They vote. Majority wins. Then the bills they pass go to the Senate where they do their thing.

So, who are they supposed to work with in crafting and passing bills?

Second, if they did nothing, like the Senate has done for several years you would be complaining they aren't doing anything.

I don't read you complaining about the Senate which is doing nothing.

You aren't being biased are you?
The GOP controlled House needs to work with the Dems in the House AND work with the Dems and Repubs in the Senate Prior to passing a Bill in the House. That is IF they really want to get it passed through the Senate and sent on to the Whitehouse. That is how it is supposed to work, that is not what is hapening, meaning Bills go back and forth between the House and Senate, which is wasting time. Either work together or get out of the way, something the Voters can cure.
Casper
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Old 07-20-2011, 11:19 AM
 
Location: Tampa Florida
22,232 posts, read 16,750,629 times
Reputation: 4584
Quote:
Originally Posted by Toyman at Jewel Lake View Post
Cut, cap and balance...isn't that what most reasonably intelligent people do with their own spending patterns? Specifically not to continually spend more than they make? Why is it so hard for politicians to be held to these same standards? CCB does allow the debt limit to rise, just like Obama wants, and is a minor, comon sense step for a fiscally viable future for this country. Too bad the Senate and Obama want to play partisian politics with this countries future, in order to buy votes. Have some honor and sense of responsibility and pass this bill!
There was never any thought that the CC & BS bill would go anywhere other than supply BS for some campaign rhetoric. You are proof of it having some minimal effect.
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Old 07-20-2011, 11:24 AM
 
Location: Long Island, NY
19,790 posts, read 12,907,319 times
Reputation: 5651
Quote:
Originally Posted by theunbrainwashed View Post
Finally the GOP is calling the Dems' bluff when the Dems have not passed a budget in a long time for political reasons
But one must wonder why they are doing it. It's just more tea bagger lunacy and proves, once again, that the GOP has gone off the deep end. From Reuters:

Quote:
(Reuters) - A balanced budget amendment backed by top Republican presidential candidates is not likely to see the light of day, but the gusto for spending cuts it represents may damage an already fragile economic recovery.

The proposed constitutional amendment, backed by prominent presidential hopefuls like Mitt Romney and Michelle Bachmann, is part of a broader fight over U.S. debt that could lead to a default on government obligations.

Though the amendment is likely to fail, Republicans are planning a separate initiative to slash $3.75 trillion from the budget over ten years in exchange for raising the U.S. debt ceiling.

In times of economic crisis, it is standard practice for governments to increase spending to stimulate economic activity. The Obama administration tackled the 2007-2009 with a nearly $800 billion stimulus plan.

A group of prominent economists, including Nobel laureate and rejected Fed board nominee Peter Diamond, on Tuesday published a letter condemning the Republican amendment proposal. They said such initiatives could thwart the government's flexibility during economic downturns.

"There is no need to put the nation in an economic straitjacket," the letter said. "A balanced budget amendment would mandate perverse actions in the face of recessions."

The Senate could vote on the amendment this weekend, but it is expected to fail in the Democrat-led chamber.

There is no vote scheduled in the Republican-controlled House of Representatives, but the House will vote on Tuesday on the initiative to slash $3.75 trillion from the budget.

Uncertainty over the debt ceiling, which has sparked warnings from top rating agencies that the U.S. government could lose its prized AAA credit rating, follows a tumultuous first half of the year for the economy.

"FOOLHARDY"

The recovery slowed sharply during the first six months of 2011 and the job market took a turn for the worse.

Against that backdrop, many economists are warning that sharp cuts in government spending -- if made too soon -- are the last thing the country needs.

A legal restraint that would prevent the government from taking action in times of recession would be even more reckless, they say

"It seems foolhardy," said Oscar Gonzales, economist at John Hancock Financial Services in Boston. "It really undermines your ability to make good macroeconomic policy."


Proponents of the balanced budget measure say high levels of government debt inhibit private sector borrowing, and contribute to long-term uncertainty that makes both consumers and businesses leery of spending.

But even if the policy goal is to eventually reduce the debt, many analysts say bolstering employment should be the top priority now, since that is the quickest way to increase revenues, and that near-term fiscal stimulus could help.

A heavy combination of fiscal and monetary stimulus helped lift the economy out of recession in the summer of 2009, and Fed Chairman Ben Bernanke has warned steep near-term spending cuts could threaten the U.S. recovery.

President Barack Obama has proposed combining a long-term budget cut plan with an immediate extension and expansion of a payroll tax credit for U.S. workers.

U.S. employment has stagnated over the past two months, and the jobless rate climbed to 9.2 percent in June.

A Reuters poll published last week showed private forecasters pulling back on their estimates for the economy's rate of expansion in 2011 to 2.5 percent.

The survey also found that, between Europe's financial woes and the U.S. fight over the debt ceiling, risks to this already weak estimate abound.

Large cuts to government spending over coming months would present yet another hurdle.

(Reporting by Pedro Nicolaci da Costa; Editing by Andrew Hay)
TEABAGGERS: "We do nid no college educated eco-nom-isists tell'in us wa'mak's synce."
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Old 07-20-2011, 11:51 AM
 
Location: Gone
25,230 posts, read 15,716,157 times
Reputation: 5921
Quote:
Originally Posted by MTAtech View Post
But one must wonder why they are doing it. It's just more tea bagger lunacy and proves, once again, that the GOP has gone off the deep end. From Reuters:


TEABAGGERS: "We do nid no college educated eco-nom-isists tell'in us wa'mak's synce."
Thanks for the informative post. Too bad the intended audiance will never get it.
Casper
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