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Passing raises in the Debt ceiling has been done many, many, many times in the USA by Many Presidents with no problems. This time was different. The difference this time was it became a political power game. Congress wanted to show the American people that they would not compromise, thinking that America would look at them as the 'Saviour's' of the American Economy...it backfired. The only thing their intransigence caused was a unnerving in the financial markets. It was a bit like someone going into their Mortgage Company and telling them that they will be unable to pay their Mortgage even though they knew they could get money to pay it. This makes the Mortgage company put a red flag against you, even though you have never missed a past payment. This is why the S&P downgraded America... they said it themselves that the uncertainty caused by Congress, who have now been "hijacked" by the tea party, was a main factor in the downgrade.
This constant partisan one upmanship is going to destroy America.... if anyone thinks the last recession was bad, wait until the next one that will be caused by the "muscle flexing" of the radical tea party..... this downgrade will seem like a slight 'blip" compared to what is to come.
As Steve Moore of the WSJ brilliantly pointed out in an editorial in Friday's newspaper, it's Obama's fiscal policies which have decimated our economy since his election; Reagan proved conclusively that deficits are acceptable as long as your policies result in the proper results, such as inflation plunging from 13% to 4% in less than three years.
The fact that the prime rate plunged from 20% (Dec. 1980) to 10% (May 1985) to 7.5% (August 1986) certainly helped the economy & GDP take off, much to the consternation of those downright pesky yet ignorant-as-always Keynesians, as well as KTK (Krugman The Klueless).
If there ever was a time for the "tea party" to rise, it was during the Bush years. But their outrage at having a black man as President obviously drives their agenda. Their participation in Congress has crippled the House, not helped it. They have crippled Congress with their bigoted nonsense, and the result is a crippled economy a la Bush. I think the tea party is facing pure annihilation in '12 as a result. So is the GOP.
As long as this faction has a say, the progress of the country will be crippled. Not just economically either.
If there ever was a time for the "tea party" to rise, it was during the Bush years. But their outrage at having a black man as President obviously drives their agenda. Their participation in Congress has crippled the House, not helped it. They have crippled Congress with their bigoted nonsense, and the result is a crippled economy a la Bush. I think the tea party is facing pure annihilation in '12 as a result. So is the GOP.
As long as this faction has a say, the progress of the country will be crippled. Not just economically either.
Yet another ridiculous post.
When you bring race into it, you lose.
[quote=A_Lexus;20646961]If there ever was a time for the "tea party" to rise, it was during the Bush years. But their outrage at having a black man as President obviously drives their agenda. Their participation in Congress has crippled the House, not helped it. They have crippled Congress with their bigoted nonsense, and the result is a crippled economy a la Bush. I think the tea party is facing pure annihilation in '12 as a result. So is the GOP.
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I have always voted Republican for President since I have been able to vote (first in 1968). I held my nose and voted for John McCain. I had actually thought I might vote for Obama but after I read both of his books and listened to the Audio CD's of him narrating them I decided there was no way in Hell I would vote for him. Some of my friends did vote Obama but I have yet to hear any of them say they will in 2012.
yes this time it is differnt..it pushes the debt past 100% of our gdp
never should have raised it passed 6 trillion
the debt ceiling when liberals took over in 2007 8.6 trillion...debt ceiling now over 16.7 trillion
liberals have doubled our debt in less than 4.5 years
That's because The Bush Administration didn't put the Wars on the books... The current Administration is including the Wars in the budget this time around...
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Excellent title and so true
