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rabidcake
Joined: 10 Aug 2009
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 Posted: Wed Oct 16, 2013 7:23 am Post subject: |
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| This one is just theater, it will have a little bit of volatility in the stock exchange but that's about it. Tomorrow or the day after you will see a compromise and the debt ceiling raised. |
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lithium
Joined: 18 Jun 2008
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| Posted: Wed Oct 16, 2013 11:21 am Post subject: |
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| young_clinton wrote: |
| I can't believe it, now the question is what effect will a government default have? I hope Americans remember the correct party that has brought this idiocy about. I am pretty sure they will. |
I hope so too. Obama and the dems have not passed a budget in 5 years because they would have to let the American people know just how the are spending money like drunken sailors. |
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nicwr2002
Joined: 17 Aug 2011
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| Posted: Wed Oct 16, 2013 5:09 pm Post subject: |
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| And there you have it! I knew they would compromise at the last minute. |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Wed Oct 16, 2013 9:10 pm Post subject: |
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| Fault is irrelevant, it's default now. |
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nicwr2002
Joined: 17 Aug 2011
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| Posted: Wed Oct 16, 2013 9:56 pm Post subject: |
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Presidents have nothing to do with the economy. |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Wed Oct 16, 2013 10:20 pm Post subject: |
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| nicwr2002 wrote: |
Presidents have nothing to do with the economy. |
Goldman sachs, JP Morgan and the thousands of lobbyists would disagree with you 100%. Politicians have everything to do with the economy. Every job I have had has been directly or indirectly affected but the politicians in charge. |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Thu Oct 17, 2013 6:06 am Post subject: |
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| Yeah but American politicians don't need to think about the economy anymore, just call Yellen, print money. Problem solved...right? |
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andrewchon
Joined: 16 Nov 2008
Location: Back in Oz. Living in ISIS Aust.
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| Posted: Fri Oct 18, 2013 12:01 am Post subject: |
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Deal last for only three months. China and the Bane/Romney treatment will be waiting.  |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Sun Oct 20, 2013 5:08 am Post subject: |
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| It had the effect of stoking Obama and Harry Reid's ego.... |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Sun Oct 20, 2013 5:13 am Post subject: |
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Learn your history son. The deficit turned to surplus because the Republicans took congress. They had to fight with Clinton to reduce spending. Clinton even shut the government down on them because he didn't like their spedning cuts and vetoed it. As his re-election came closer, he had to cut a deal and end the shut down. Hence the surplus. Gingrich had the Reagan zeal. Reagan kept trying to balance the budget, but the Democrats in the House kept blocking that effort. (Just don't ask me to explain or defend what the H happened when they got full control under Bush. I can't explain that one.) |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Sun Oct 20, 2013 5:42 pm Post subject: |
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| Hmm I'm thinking about getting some fat 1kg gold bars. Yellen is going to run wild with the printing, she has no other option now. The only thing is it's naive to think the price of Gold isn't being manipulated, plus you have to wonder if the gold bars even exist at the Swiss bank. |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Sun Oct 20, 2013 10:03 pm Post subject: |
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| Weigookin74 wrote: |
Learn your history son. The deficit turned to surplus because the Republicans took congress. They had to fight with Clinton to reduce spending. Clinton even shut the government down on them because he didn't like their spedning cuts and vetoed it. As his re-election came closer, he had to cut a deal and end the shut down. Hence the surplus. Gingrich had the Reagan zeal. Reagan kept trying to balance the budget, but the Democrats in the House kept blocking that effort. (Just don't ask me to explain or defend what the H happened when they got full control under Bush. I can't explain that one.) |
"Reagan’s massive defense build-up, which raised defense spending from $134 billion in 1980 to $253 billion in 1989. This raised American defense spending to 7 percent of GDP, dramatically increasing the federal deficit." From a professor at Stanford, he agrees with me but thanks for playing.
http://wais.stanford.edu/History/history_ussrandreagan.htm |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Mon Oct 21, 2013 4:43 pm Post subject: |
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^ Yeah I remember even as a kid in the 80s thinking "there is gonna be a price for spending all this money we don't have".
But that's the past now, the financial obligations exist, and US ain't got the money. Everybody was to blame, nobody was to blame, doesn't matter. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Mon Oct 21, 2013 5:09 pm Post subject: |
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| No_hite_pls wrote: |
| lithium wrote: |
| young_clinton wrote: |
| I can't believe it, now the question is what effect will a government default have? I hope Americans remember the correct party that has brought this idiocy about. I am pretty sure they will. |
I hope so too. Obama and the dems have not passed a budget in 5 years because they would have to let the American people know just how the are spending money like drunken sailors. |
FACT:::: Republicans always have the high deficits = big spenders, and democrats always come in to clean up their mess. Clinton cleaned up Reagan and Bush's huge deficits and turn them into surpluses. Obama is slowing fixing the damage that Bush Jr. did. The deficit has been getting smaller since Bush Jr. left office.
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And the DEBT has been getting bigger.
http://www.politifact.com/new-jersey/statements/2012/may/04/chain-email/obama-has-added-more-national-debt-previous-43-pre/
Remember that claim that Obama has added more national debt than all previous presidents combined?
Well it's not accurate (yet) but even this article which is defending Obama admits
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| Still, the national debt is projected to keep increasing. The amount of added debt held by the public may exceed Obama’s predecessors by October 2013, according to White House projections. |
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| On Jan. 20, 2009, the date of Obama's inauguration, the debt held by the public -- as accrued by Obama’s predecessors -- stood at roughly $6.307 trillion and the total debt was about $10.6 trillion, according to the U.S. Department of the Treasury’s "Debt to the Penny" calculator. |
| Quote: |
Next, we'll show how much both forms of debt had increased as of April 27, 2012 -- the last date available at the time we received the chain e-mail.
By that date, the debt held by the public was about $10.8 trillion and total debt had climbed to roughly $15.6 trillion.
So, under Obama’s watch, debt held by the public had increased by about $4.5 trillion, or roughly 72 percent. Total debt had increased by nearly $5 trillion, or about 47 percent. |
Single-handedly he increased the total debt by nearly 50%...and this is an article that defends Obama by debunking the claim that he spent more than all other presidents combined. |
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