quote:

ORIGINAL: Thadius

Yay! The President just signed the $1.9 TRILLION increase to the debt limit into law.

That combined with the proposed $15 Billion spending freeze should get this debt under control.

quote:

ORIGINAL: Jeffff

I still don't feel bailed out.

Jeff

quote:

ORIGINAL: MzMia

quote:

ORIGINAL: Thadius

Yay! The President just signed the $1.9 TRILLION increase to the debt limit into law.

That combined with the proposed $15 Billion spending freeze should get this debt under control.

This is just the beginning, are you fucking kidding me?
Look at the unemployment numbers and the economy.

Getting the debt under control is not even the major issue on the table right now.
You can't worry about how to build a house, until you put the fire out of the house you have that is already burning.
Our house is on fire, we can't rebuild a damn thing, until we first put out the fire.

quote:

ORIGINAL: mnottertail

schlau, aber nicht wahr.

if we did that, we would have to finance some of the heavy ious in the social security fund to come up with some cash.


Ron

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ORIGINAL: mnottertail

LOL, I am the ultimate politician. I should run, I can come up with shit to spin heads.

Some wizard is gonna say in response to me:

Yeah, that's a great idea!!!!! We can buy them back while interest rates are so low, after all we owe it to ourselves!!!!!!

Milt Keynes

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ORIGINAL: pahunkboy

Chapman said the DOW is going to go down so as to shift investors into US bonds.

Imagine.

quote:

That is part of the problem... to start covering these increased interest payments the taxes are going to have to go up (across the board), hurting all of us even more in the pocket book.

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ORIGINAL: Musicmystery

quote:

That is part of the problem... to start covering these increased interest payments the taxes are going to have to go up (across the board), hurting all of us even more in the pocket book.

Where were you on this while we constructed this problem for the past ten years--with tax cuts and spending increases?

It didn't pop up from nowhere.

That said, I agree it's a significant problem. Like the trade deficit we've ignored for years. Like fixing SS and Medicaid/Medicare like we've put off for years. Like ignoring the need to address health care insurance instead of ignoring the growing problem. Like pretending it's this party or that party's problem, as they've both focused exclusively on expansionary policies for years, in good times and in bad, whether more tax cuts or more spending.

And that said, I agree that slamming on the breaks while still in a young recovery while we rebuild jobs would be a mistake. So we continue on, reluctantly, for the short term.

That said, it's past time to stop ignoring this problem.

I actually blame Reagan--this conservative hero changed us from the largest creditor nation in the world to the largest debtor nation in the world in just a single administration, and with 25% of U.S. assets owned by foreign interests instead of largely in U.S. hands. It was a very, very bad precedent, convincing all sorts of people this was justified, and showing lots of others they could get away with policies like this.

Not that Carter was any better. But simplistic magic money solutions should be ridiculed (as Bush and Dole did when Reagan first proposed his nonsense) and dropped, not enshrined.

This nation needs a lobotomy.