Plan C McConell - Give Obma Authority to Raise Debt Limit

[MarketMasher]

Wow.

First, I look at which guys on Capitol Hill on both sides were there when the spending was going amok, and they were voting FOR it.

And that includes the bailouts.

Then I discount anything those sh!theads have to say on the issue.

That doesn't leave many that aren't full of sh!t flapping their lips, does it?

 

[Scataphagos]

Quote from achilles28:

Between the executive orders, line item vetos, non-congressional declared wars and now this, I sincerely believe the partisan establishment is attempting to do away with checks and balances and replace them with some sort of executive dictatorship that only appears democratic. Why would Congress give their power away? Especially on spending??? It makes no sense..

We should all be asking ourselves those questions... .

Unfortunately half of the population won't bother... they'll just stand there with their hand out.

 

[achilles28]

Quote from Scataphagos:

We should all be asking ourselves those questions... .

Unfortunately half of the population won't bother... they'll just stand there with their hand out.

I don't see how any of this gets resolved unless the average idiot voter gets informed. And even then, they might just say "fuck it, I want my handout". It's at that point, I have no sympathy for what's coming. People get the type of Government they deserve. And judging from our Government, Americans are fat, stupid and corrupt. As are Europeans. As are Canadians.

 

[JohnGreen]

Whoa Achilles!

Canada has no serious government debt issues. We're way better off than the good ol' USA and almost every country in Europe.

You see, we don't try to have our cake and eat it, too. We do pay the higher taxes necessary to support government programs.

We have run a couple of deficit budgets recently, but spending cuts are already in the plan and balanced budgets by 2014. You guys will be lucky to be balanced by 2114!

 

[MarketMasher]

Sen. Mitch - When the going gets tough, the tough....punt.

 

[weewilly]

I've been reading some of Thomas Jefferson's writings. There's a great letter he wrote to James Madison in 1789 in which he talks about how "The Earth belongs to the Living." It is all about public debt and the morality of passing debt forward to the next generation. Great stuff:

http://lachlan.bluehaze.com.au/lit/jeff03.htm

 

[achilles28]

Quote from JohnGreen:

Whoa Achilles!

Canada has no serious government debt issues. We're way better off than the good ol' USA and almost every country in Europe.

You see, we don't try to have our cake and eat it, too. We do pay the higher taxes necessary to support government programs.

We have run a couple of deficit budgets recently, but spending cuts are already in the plan and balanced budgets by 2014. You guys will be lucky to be balanced by 2114!

While Canadas federal debt is the envy of the G20, it's economy is still heavily reliant on exports to trading partners who are nearing a severe Depression. Namely, the US and Europe. Further, Canadas economy is overweight in resource extraction and FIRE (Financial, Insurance, Real Estate). Therefore, the inevitable collapse, if deflationary, will route commodity prices, equities, banks, and Canadas 30-year housing bubble which has yet to pop. Canadian consumer debt-to-income is making all-time highs. Not exactly a bullshit indicator. It's only a matter of time before Europe contagion sinks global markets. On the plus side, Canada does have room for a shitload of deficit spending, once the perfect storm hits.

 

[Random.Capital]

On the founding father flip side, George Washington was all about one national bank.

Always was as it always will be.

 

[Larson]

Quote from achilles28:

Between the executive orders, line item vetos, non-congressional declared wars and now this, I sincerely believe the partisan establishment is attempting to do away with checks and balances and replace them with some sort of executive dictatorship that only appears democratic. Why would Congress give their power away? Especially on spending??? It makes no sense..

It does look deliberate as these legislators know the constitution as well as anyone. They just do not want to abide by it anymore as it gets in the way. The last decade has seen more dismantling of the US than any period in it's history, except for maybe the Civil War.

 

[GTS]

Umm, this is a temporary measure not a permanent change in handing the power to raise the debt ceiling to the executive branch.

I don't like the way it sounds either but considering the alternatives I don't see how the republicans have much choice - they don't want to be seen as causing the gov't to stop making SS and veterans payments which is what the dems are already prepping the blame for and I fully agree that they should not have to raise taxes when what we need is to reign in govt spending.

Obama pretended to offer to make sweeping spending cuts so that he can claim that he is a great leader but the details of his offer were (as always) to back-load the suffering so that the real heavy lifting wouldn't come until later....so its more taxes now and deferred spending cuts (that could easily be overturned later on) Remember that everyone is talking about a 10-year plan - what a joke.

The republicans don't want to hand Obama anything that looks like a victory that he can use to bolster his credibility going into next years elections....that's what this is all about.