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Tea Party Threats Ruining America's Economic Standing [W:113]

They passed the appropriations bill knowing that the debt ceiling would need to be raised. The rest is semantics.

And let me guess, you think Republicans are 100% responsible for that and Dems get a free pass?
 
Thats not a budget under the Budget Control Act. Only the House passed an actual budget document for FY2013. It was not considered by the Senate thus there is no budget. No spending has been approved for FY2014, thus there are no bills due (other than mandatory spending and the military pay bill).
Technically true, at least in theory...but, that's not reality. Here's a nice timeline showing realistic details of what happens if Congress does not raise the debt ceiling


OCT. 18 - OCT. 29

Treasury's cash reserve quickly dwindles. Washington only takes in about 70 cents for every dollar it spends and is now unable to issue new debt to cover the difference.

The tide turns briefly on October 22, when the government takes in $3.5 billion more than it spends.

But that temporary gain is soon erased. October 24 is an especially rough day: Treasury pays $1.8 billion to defense contractors, $2.2 billion to doctors and hospitals that treat elderly patients through the Medicare program, and $11.1 billion in Social Security, while taking in only $9.6 billion in taxes and other income.

One possible wild card: Treasury could lose the trust of the bond market.

Even though the government cannot add to the national debt at this point, it can legally roll over expiring debt. Investors have the opportunity to cash out about $100 billion worth of U.S. debt every week but choose to reinvest it. If fear of default causes investors to steer clear of new debt offerings, Treasury's finances could unravel almost overnight.



Read more: What Will Happen If The US Defaults - Business Insider
 
It was only a matter of time. A few more weeks of this debt ceiling blackmail nonsense and we'll be the joke of the business community.

Photo Of John Kerry Far Off In The Background At APEC Meeting - Business Insider




I'm sure though that the usual suspects will just blame it all on the Black guy with the funny name.
They can scramble police forces to shutdown monuments, but cant come up with the airfare in the WH budget to fly to this meeting? They can send in the clown, but BO cant make it himself?

Its always the other peoples fault, isnt it. Tell you what...considering the pathetic job BO has done as president for 5 years, they are lucky they let Kerry IN the event, let alone let him stand on the stage.
 
Technically true, at least in theory...but, that's not reality. Here's a nice timeline showing realistic details of what happens if Congress does not raise the debt ceiling

Thats false. It assumes spending will be approved at the same level as last year, which is exactly what the House is demanding doesnt happen. Instead they will pass a increase in the debt ceiling with less spending.
 
Thats false. It assumes spending will be approved at the same level as last year, which is exactly what the House is demanding doesnt happen. Instead they will pass a increase in the debt ceiling with less spending.

You're saying the information in the article I posted is false?
 
They can scramble police forces to shutdown monuments, but cant come up with the airfare in the WH budget to fly to this meeting? They can send in the clown, but BO cant make it himself?

Its always the other peoples fault, isnt it. Tell you what...considering the pathetic job BO has done as president for 5 years, they are lucky they let Kerry IN the event, let alone let him stand on the stage.
:roll:


Blame the Black guy.
 
No, the election of a Jr Senator, who when he had a Congressional Democrat majority for two years
proposed the most retarded "green jobs iniative" ever concieved is what ruined the "economic standing" of America.
 
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And let me guess, you think Republicans are 100% responsible for that and Dems get a free pass?

Not for that part. Both parties were afraid to make hard decisions. The D's failed to cut spending and the R's failed to increase revenues.
 
Not for that part. Both parties were afraid to make hard decisions. The D's failed to cut spending and the R's failed to increase revenues.

If you cut spending you don't have to raise revenues....
 
After all, the black guy with the funny name has only been in charge for 5 years. Why in the world would the business community make fun of him?

And at a time when the country need to come together as they did around Bush after 911, the R's went "Party of No" the minute Obama was elected, even though we were in economic crisis, McConell even saying that the GOP's goal was to make Obama a one term president.

The "usual suspects" are not the business community.
RacistObamaPic14.jpg
 
:roll:


Blame the Black guy.
Thats so ****ing retarded. WTF is wrong with you? When democrats spent 8 years blaming Bush for everything from acid reflux to global warming were you blaming the white guy or maybe putting responsibility on the shoulders of the President/Commander in Chief? You know...the guy that APPLIED for the job...twice...and has been in office for 5 years now?
 
Thats so ****ing retarded. WTF is wrong with you? When democrats spent 8 years blaming Bush for everything from acid reflux to global warming were you blaming the white guy or maybe putting responsibility on the shoulders of the President/Commander in Chief? You know...the guy that APPLIED for the job...twice...and has been in office for 5 years now?
Yeah, Right because Bush got stuff like this

RacistObamaPic27.jpg


Don't try that lame innocent act on me.
 
Obama refusing to negotiate with his elected legislative body threatens America's Economic Standing

Just thought you should use a real title to the thread not a DNC talking point.


It was only a matter of time. A few more weeks of this debt ceiling blackmail nonsense and we'll be the joke of the business community.

Photo Of John Kerry Far Off In The Background At APEC Meeting - Business Insider




I'm sure though that the usual suspects will just blame it all on the Black guy with the funny name.
 
I remember the left calling the tea party a bunch of homophobe racist, but yet this dictator in the white house will negotiate with a country that stones to death gay people for being gay - but won't negotiate with the tea party members of congress. America is fortunately realizing what a loser in charge there is; he keeps is golf course open, he keeps his chefs on as essential, but screws veterans at cement monuments.


Yeah. Right. That must be the Right Wing version of "negotiate".
 
I remember the left calling the tea party a bunch of homophobe racist, but yet this dictator in the white house will negotiate with a country that stones to death gay people for being gay - but won't negotiate with the tea party members of congress. America is fortunately realizing what a loser in charge there is; he keeps is golf course open, he keeps his chefs on as essential, but screws veterans at cement monuments.
Well, ya know, that's just like an uppity nigger.
 
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Its a prediction based on assumptions, and thus is not factual.

It's a prediction based on analysis from people with a lot more information available to them than you and I have on hand.
 
Me too. That says 42 Republicans voted against something. Not 'two tea party senators' blocked something. Seems like your complaint should be about Republicans, not the tea party.
That's a possibility. But, I used to be a pretty proud Republican...but, that was before the crazy took over the party and chased me away. So, maybe that is true--that my bitch is not just with the few Tea Nuts but rather with all of the Wing Nuts.
 
It's a prediction based on analysis from people with a lot more information available to them than you and I have on hand.

Obviously not as the prediction is based on the most unlikely scenario, that we continue spending at the same rate, and not raise the debt ceiling. I might as well post an article showing what would happen if we cut spending by 700bn. It has no relevance to whats actually happening or likely to happen.

The current factual scenario is no spending bills are passed, the debt ceiling is not raised, govt takes in enough to pay mandatory spending, and the surplus pays off debt.
 
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