Quote from Max E. Pad:
You mind telling me what part about cutting 200 billion dollars a year off a 1.6 trillion dollar deficit is insane?
If you knew anything, you'd know the answer is: all of it is insane. The only reason this faux controversy is occurring is because Obama is allowing you ignorant yahoos to set the terms of this debate.
I came back here, took a look around, and this place still displays breathtaking ignorance on basic economics, the kind of stuff you expect on the Yahoo forums, but not in a place where the masthead says "Elite Trader".
For the record, not that anyone around here (with a couple of exceptions) has the cranial horsepower to understand:
2008 was just three years ago. By every measure, it was the worst downturn since the big one. To expect the government to run a balance or a surplus at this point is to expect the country to commit economic suicide.
Debt ceiling raises were, in the past, routine, including under Reagan, where the number of times it was raised was way more than under Obama. Only under Dem prezes: Clinton, and now Obama, does raising it become controversial.
Given what's being said around here, I'd be willing to bet that at least half the membership didn't even know there was such a thing as a debt ceiling until a few months ago. And yet you still open your mouths and display your usual, stunning ignorance.