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Breaking: Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

Sgt Meowenstein

Sgt Meowenstein

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Debt ceiling talks stalled again on Weds as each side continues to stand their ground. McConnell already blinked. How long before Cantor blinks?

Obama Warns Cantor 'Don't Call My Bluff' As Debt Talks Stall

WASHINGTON -- Lawmakers and the White House had what nearly every party is describing as a "tough" and "testy" meeting on the debt ceiling Wednesday afternoon, culminating in a stormy exchange between the president and House Majority Leader Eric Cantor (R-Va.).

It was the fifth straight day of talks, but the first in which attendees, speaking on background, were willing to admit that steps were taken backwards. According to multiple sources, disagreements surfaced early, in the middle and at the end of the nearly two-hour talks. At issue was Cantor's repeated push to do a short-term resolution and Obama's insistence that he would not accept one.

"Eric don't call my bluff. I'm going to the American people on this," the president said, according to both Cantor and another attendee. "This process is confirming what the American people think is the worst about Washington: that everyone is more interested in posturing, political positioning, and protecting their base, than in resolving real problems."

Cantor, speaking to reporters after the meeting, said that the president "abruptly" walked off after offering his scolding.

“I know why he lost his temper. He’s frustrated. We’re all frustrated," the Virginia Republican said.

Democratic officials had a different interpretation. "The meeting ended with Cantor being dressed down while sitting in silence," one official said in an email. "[The president] said Cantor could not have it both ways of insisting on dollar-for-dollar and still not being open to revenues."

Lost in the rush to frame the dramatic conclusion of Wednesday meetings was word of the actual substance of the talks. According to several attendees, negotiations stalled from the onset over the same issues that have proved irresolvable. Working off of talks that had been spearheaded by Vice President Joseph Biden, the president said he would be comfortable signing off on northward of $1.5 trillion in discretionary spending and mandatory spending cuts. With additional negotiations, he added, he could move that figure up to $1.7 trillion, and with a willingness to consider revenue increases and tax loophole closures, he added, lawmakers could get to over $2 trillion. His preference, he said, was to continue to push for the biggest package possible, so long as it was balanced.
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Let's hope he doesn't blink.
 
I agree. Let's hope he doesn't. The GOP will get the blame. And they deserve it.
 
1Perry said:
Eric don't call my bluff. I'm going to the American people on this," the president said

Good luck with that one. If I was Cantor I would have said, "go for it".

U.S. Debt Ceiling Increase Remains Unpopular With Americans

U.S. Debt Ceiling Increase Remains Unpopular With Americans
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If this poll is any indication, many Americans aren't aware of the consequences. If the **** hits the fan, they'll likely be singing a different tune. Regardless of what you think about our budgetary situation, not raising the debt limit would be shooting ourselves in the foot. It simply isn't worth it, IMO.
 
StillBallin75 said:
If this poll is any indication, many Americans aren't aware of the consequences. If the **** hits the fan, they'll likely be singing a different tune.
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Here we go again......there is an option for "I don't know enough". No, just because someone disagree's with you doesn't mean they are ignorant of the situation.
 
1Perry said:
Here we go again......there is an option for "I don't know enough". No, just because someone disagree's with you doesn't mean they are ignorant of the situation.
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If 40% of Americans think that it'll be okay for the Treasury to reach the deadline without the ceiling being raised (or that a delayed budget deal will be worth the damage that not raising the debt ceiling will do)...I'd say yeah, they probably don't get how big the stakes are.

Just my two cents
 
StillBallin75 said:
If 40% of Americans think that it'll be okay for the Treasury to reach the deadline without the ceiling being raised (or that a delayed budget deal will be worth the damage that not raising the debt ceiling will do)...I'd say yeah, they probably don't get how big the stakes are.

Just my two cents
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Where is the damage in stopping the wars? Paying Pakistan? (I could go on longer)
 
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StillBallin75 said:
You think that's ALL that'll happen? (Yeah, you could go on longer, and eventually some of the things you start listing will be some real big-ticket items that WILL do damage).

http://www.bipartisanpolicy.org/sites/default/files/Debt%20Ceiling%20Analysis%20.pdf

It's a bit long, bit it'll give you sobering sense of what'll happen if the **** hits the fan.
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So I'm reading through this and I came to this.

–Treasury picking winners and losers

THey have been doing this for years. It's part of what got us into this mess.
 
Reading further....12 billion in income 32 billion in committed spending.

Something is seriously wrong with this picture. If it means we must actually take serious actions to address this picture, I'm all for it.

We definately should take the hit now so others don't continually have to for years to come.
 
1Perry said:
So I'm reading through this and I came to this.

–Treasury picking winners and losers

THey have been doing this for years. It's part of what got us into this mess.
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That's hardly the point...

Look, regardless of the mess our budget is in, the fact is that once the Treasury starts being unable to meet all of its obligations, there's gonna be some serious hurt. I'm not saying this as a partisan or a liberal, I'm saying this as a pragmatic realist.
 
Unfortunately Republicans aren't proposing a balanced budget. They are proposing more debt. If there were a Republican President, Senate and House they would be raising the debt limit. So what is this all about?

Raise the debt limit. Don't raise the debt limit. None of it will help Americans. Squabbling over a speck on a pile of ..... I really don't like Democrats, but Republicans have crossed over into the realm of the absurd.
 
1Perry said:
Reading further....12 billion in income 32 billion in committed spending.

Something is seriously wrong with this picture. If it means we must actually take serious actions to address this picture, I'm all for it.

We definately should take the hit now so others don't continually have to for years to come.
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That's probably just for a single day. Although I admit the larger picture isn't much better. Hey, I agree we have a spending problem and a huge deficit problem. But you don't chop your dick off in order to keep yourself from getting STD's.
 
StillBallin75 said:
That's hardly the point...

Look, regardless of the mess our budget is in, the fact is that once the Treasury starts being unable to meet all of its obligations, there's gonna be some serious hurt. I'm not saying this as a partisan or a liberal, I'm saying this as a pragmatic realist.
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We've asked for it. We can not continue making promises our politicians can not provide.
 
AndrewC said:
Unfortunately Republicans aren't proposing a balanced budget. They are proposing more debt. If there were a Republican President, Senate and House they would be raising the debt limit. So what is this all about?
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And Obama would be saying "No". We've already been there.
 
StillBallin75 said:
That's probably just for a single day. Although I admit the larger picture isn't much better. Hey, I agree we have a spending problem and a huge deficit problem. But you don't chop your dick off in order to keep yourself from getting STD's.
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You also don't put off the cure. We already have the STD.
 
1Perry said:
Reading further....12 billion in income 32 billion in committed spending.

Something is seriously wrong with this picture. If it means we must actually take serious actions to address this picture, I'm all for it.

We definately should take the hit now so others don't continually have to for years to come.
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So you're saying you're ok with us being unable to educate our children indefinitely? You're ok with the FBI being discontinued and terrorism being allowed to flow into our borders? You're ok with plunging us and the world into a depression unlike anyone living has ever known?

This is not a "hit" in the sense of tightening your belt and buying the cheap pasta. This would be a complete meltdown of our entire country. There are better ways to do this. You're basically proposing that someone commit suicide as a solution to credit card debt. That is beyond insane.
 
Sam: Hey Joe, why are you acting like a jackass.

Joe: See that retard over there. (points at retard drooling in the corner)

Joe: He's a jackass too.
 
MistressNomad said:
So you're saying you're ok with us being unable to educate our children indefinitely? You're ok with the FBI being discontinued and terrorism being allowed to flow into our borders? You're ok with plunging us and the world into a depression unlike anyone living has ever known?
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None of those things would come to pass post 8/2.

Biggest hit would probably be SS/Medicaid/Medicare.
 
Jeezy said:
None of those things would come to pass post 8/2.

Biggest hit would probably be SS/Medicaid/Medicare.
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Really depends on how things are prioritized. The only things I think are untouchable would be interest payments on the debt, and perhaps military paychecks. Everything else would likely be on the table.

Not to mention about $500 billion worth of bonds mature in the month of August. The Treasury might have a hell of a time trying to roll that over. At the very least they'll have to raise interest rates to attract buyers.
 
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StillBallin75 said:
Really depends on how things are prioritized. The only things I think are untouchable would be interest payments on the debt, and perhaps military paychecks. Everything else would likely be on the table.
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Regardless of priorities, the FBI will not be "discontinued."
 
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