Reagan raised the debt ceiling 18 times

[AK Forty Seven]

Quote from gastropod:



Understand it this way...in previous terms of the presidency (you can name whomever you like here - Reagan, Johnson, one of the Bushes, whatever) the market for US Treasuries did not mind the debt burden of the government, because the "market" felt that the US government had the ability to pay its debts. Today, the "market" is questioning the US governments ability to pay off its debts. Now, only because we HAVE HAD reserve currency status has the US government been able to print money and pay off the US governments debts (quantitative easing, inflation, etc.) THE MARKET IS NOW TELLING THE US GOVERNMENT THAT IT WILL NOT ALLOW THIS ANYMORE - THE US GOVERNMENT MUST LOWER US GOVERNMENT DEBT.

The amount of the debt has a lot to do with that and hypocrite republicans need to be reminded whos most responsible for the majority of the national debt

 

[bone]

When Obama took office he had the same two wars, the same prescription drug program, the stock market had already tanked four months prior, and two days before Obama took office there was a $450 B deficit with a CBO projection for $1.4 T in 2009 - those are CBO FACTS.

Now look at where the debt is and where it is heading.

 

[Covertibility]

Obama taking office was like taking over the Titanic after it hit the iceberg and half the ship was underwater.

 

[AK Forty Seven]

Quote from Covertibility:

Obama taking office was like taking over the Titanic after it hit the iceberg and half the ship was underwater.

 

[bone]

Quote from Covertibility:

Obama taking office was like taking over the Titanic after it hit the iceberg and half the ship was underwater.

I concede that point. But I would maintain that Hillary would have been much more capable and effective than Obama. Much.

 

[Max E.]

Quote from Covertibility:

Obama taking office was like taking over the Titanic after it hit the iceberg and half the ship was underwater.

Nah........... its more like Obama took over when we were a couple hundred yards away from hitting the ice berg, then his first plan was to load some dynamite into the hull, and get rid of every single life raft, he then put the boat up to full speed and changed the course so that the titanic would hit the iceberg perfectly head on,(he didnt want to take any chance that we made it through this) , now we are a yard off the iceberg with the debt ceiling talks, and Obama sitting with his lighter inhand, waiting to set off the dynamite, with a big shit eating grin on his face that stretches from one enormous ear to the other.

 

[Ricter]

Quote from Max E. Pad:

Nah........... its more like Obama took over when we were a couple hundred yards away from hitting the ice berg, then his first plan was to load some dynamite into the hull, and get rid of every single life raft, he then put the boat up to full speed and changed the course so that the titanic would hit the iceberg perfectly head on,(he didnt want to take any chance that we made it through this) , now we are a yard off the iceberg with the debt ceiling talks, and Obama sitting with his lighter inhand, waiting to set off the dynamite, with a big shit eating grin on his face that stretches from one enormous ear to the other.

You know they say that if Titanic had hit the iceberg head on, it would not have opened up so many compartments and the ship likely would not have sunk. It was the grazing blow that killed her. ; )

Anyway, I disagree. The recession was really a year old already, and the bailouts were approved. The stimulus, just about everyone including Bush thought it was necessary. I know we landed a big sale thanks to credit support a big customer got. That saved probably 400 jobs.

Our troubles are a result of declining revenue (tax cuts, recession), and heightened spending (safety net, war) occurring at the same time. We've been here before.

 

[AK Forty Seven]

Quote from bone:

I concede that point. But I would maintain that Hillary would have been much more capable and effective than Obama. Much.

For once we agree

 

[gastropod]

Quote from AK Forty Seven:

The amount of the debt has a lot to do with that and hypocrite republicans need to be reminded whos most responsible for the majority of the national debt

I should remember the proverb: don't give pearls to swine.

 

[Lucrum]

Quote from AK Forty Seven:

The other option was much worse

Nothing could be worse.