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Peter1469
03-13-2015, 06:09 PM
Two days until the debt ceiling is hit (http://www.zerohedge.com/news/2015-03-13/debt-ceiling-drama-back-two-days-until-us-borrowing-capacity-exhausted)

Are the American people ever going to demand that this criminals stop spending money that they don't have?



And so, a little over a year after the last debt ceiling melodrama, in which the US kicked the can on its maximum borrowing capacity to this Sunday, March 15, in the meantime raking up total US public debt to $18.149 trillion...

... the soap opera with the self-imposed borrowing ceiling on America's "credit card" is back, and the US is once again faced with sad reality of its debt ceiling (now at well over 100% of America's upward revised GDP of $17.7 trillion). Tthe reason: two days from today Congress’s temporary suspension of the debt ceiling, which was approved in February 2014, ends.

***

The good news is that all the comedic idiocy surrounding the "trillion dollar platinum coin" is about to be unleashed upon a zombified US audience once more, while the most important message: that $1 dollar of debt can't even buy $1 dollar of GDP, is once again lost on everyone.

Bob
03-13-2015, 06:12 PM
Debt ceiling? What the heck is a debt ceiling?

They never mean it.

Lineman
03-13-2015, 07:32 PM
You talking about the republican majority?

Peter1469
03-13-2015, 07:33 PM
You talking about the republican majority?

The establishment of both parties spend like drunken sailors.

Mini Me
03-13-2015, 07:52 PM
Look at the bright side of debt.

The FED gives too big to jail bankers billions of $ to prop up their Zombie banks, and launder money for drug cartels and Hedge Funds. It keeps the Petrodollar alive, and inflates the asset bubble for investors to get richer, and to fund permanent wars forever.

Inflation? Ha! What inflation?

All hail, Janet Yellen!

Crepitus
03-13-2015, 07:56 PM
Let the hostage taking begin!!!!

Mini Me
03-13-2015, 07:57 PM
The establishment of both parties spend like drunken sailors.

But its nothing to lose any sleep over. Its not real money!

Just hit the delete button, and "poof" its all gone!

PolWatch
03-13-2015, 07:58 PM
The establishment of both parties spend like drunken sailors.

looks like the payment for the Christmas gift both parties gave Wall Street is coming due

zelmo1234
03-13-2015, 07:59 PM
Well No need to worry, under the current Republican leadership, no spending cuts will take place.

Peter1469
03-13-2015, 08:32 PM
looks like the payment for the Christmas gift both parties gave Wall Street is coming due

It is. The next crash will be bigger than the last, and the Federal Reserve has used all of its ammo.

Newpublius
03-13-2015, 09:42 PM
Its Groundhog Day -- Again ...

Peter1469
03-13-2015, 10:30 PM
The big spenders (of money other than theirs) will win out.

Green Arrow
03-13-2015, 10:44 PM
They haven't even been talking about the debt ceiling, two days before we hit the limit.

Isn't that a bit odd? Usually they are blowing the horns of warning and screeching about the doom of America if we don't raise it, until they can kick the can down the road for a year or a few months.

Cthulhu
03-13-2015, 10:46 PM
It is. The next crash will be bigger than the last, and the Federal Reserve has used all of its ammo.
Not sure, Europe has kicked its debt can down the road a looooong way.

The only difference between us and Europe really is the passage of time.

Sent from my evil kitten eating cell phone.

donttread
03-14-2015, 09:16 AM
Debt ceiling? What the heck is a debt ceiling?

They never mean it.

That's why we should cut up their credit cards once and for all

Cthulhu
03-14-2015, 04:21 PM
That's why we should cut up their credit cards once and for all
A noose would be more effective.

Sent from my evil kitten eating cell phone.

Bo-4
03-14-2015, 05:25 PM
So raise it, as Reagan did 18 times.

http://www.politifact.com/truth-o-meter/statements/2011/jul/26/barack-obama/obama-says-reagan-raised-debt-ceiling-18-times-geo/

As for convicted insider securities trader Tyler Durden over at ZeroHedge?

Lol

donttread
03-14-2015, 05:36 PM
They haven't even been talking about the debt ceiling, two days before we hit the limit.

Isn't that a bit odd? Usually they are blowing the horns of warning and screeching about the doom of America if we don't raise it, until they can kick the can down the road for a year or a few months.
The American people are like seagulls, they were concerned about the debt ceiling in earnest for a little while, but now its on to other bright, shiny objects. Like ISIS, e-mails and ironically the upcoming elections

zelmo1234
03-14-2015, 09:46 PM
So raise it, as Reagan did 18 times.

http://www.politifact.com/truth-o-meter/statements/2011/jul/26/barack-obama/obama-says-reagan-raised-debt-ceiling-18-times-geo/

As for convicted insider securities trader Tyler Durden over at ZeroHedge?

Lol

Well back when Reagan was in office the Debt was so small, and the military so devastated that it was not a real problem.

Now we are 18 trillion in debt and we raise the deb ceiling by more than total spending was back in the Reagan years.

But I say raise it spend as fast as you can, and when the walls come down, let the people fend for themselves

Howey
03-14-2015, 10:04 PM
They haven't even been talking about the debt ceiling, two days before we hit the limit.

Isn't that a bit odd? Usually they are blowing the horns of warning and screeching about the doom of America if we don't raise it, until they can kick the can down the road for a year or a few months.

Not to worry. Peter's in charge of the gloom and doom predictions now. Gee I bet he's the life of the party!

Howey
03-14-2015, 10:05 PM
Well back when Reagan was in office the Debt was so small, and the military so devastated that it was not a real problem.

Now we are 18 trillion in debt and we raise the deb ceiling by more than total spending was back in the Reagan years.

But I say raise it spend as fast as you can, and when the walls come down, let the people fend for themselves

I guess I'll have to post this in two threads now...

http://www.washingtonpost.com/blogs/fact-checker/wp/2014/12/08/does-obama-have-the-worst-record-on-any-president-on-the-national-debt/

Size of national debt when Reagan took office:*$1 trillion
Size after six years:*$2.3 trillion*(130 percent increase)
Size at the end of his presidency:*$2.9 trillion*(190 percent increase)

Peter1469
03-14-2015, 10:16 PM
I guess I'll have to post this in two threads now...

http://www.washingtonpost.com/blogs/fact-checker/wp/2014/12/08/does-obama-have-the-worst-record-on-any-president-on-the-national-debt/

Size of national debt when Reagan took office:*$1 trillion
Size after six years:*$2.3 trillion*(130 percent increase)
Size at the end of his presidency:*$2.9 trillion*(190 percent increase)

An example of using statistics to lie.

We paid that Reagan debt off under Clinton, or so we are told.

It is not possible to pay Obama's debt off.

Bob
03-15-2015, 01:49 AM
I guess I'll have to post this in two threads now...

http://www.washingtonpost.com/blogs/fact-checker/wp/2014/12/08/does-obama-have-the-worst-record-on-any-president-on-the-national-debt/

Size of national debt when Reagan took office:*$1 trillion
Size after six years:*$2.3 trillion*(130 percent increase)
Size at the end of his presidency:*$2.9 trillion*(190 percent increase)

Two paltry trillion increase in 8 years?

Hell, Obama has banked 8 trillion losses in only 6 years and he is not done yet.

We now know what red ink looks like.

Green Arrow
03-15-2015, 03:24 AM
Two paltry trillion increase in 8 years?

Hell, Obama has banked 8 trillion losses in only 6 years and he is not done yet.

We now know what red ink looks like.

Two trillion is not paltry. If Reagan was a Democrat, you'd be squealing like a stuck pig about how irresponsible that "paltry" two trillion were.

Common
03-15-2015, 05:30 AM
Two trillion is not paltry. If Reagan was a Democrat, you'd be squealing like a stuck pig about how irresponsible that "paltry" two trillion were.

Bobby gets confused when he tries not to troll others so he can report them

Bob
03-15-2015, 11:23 AM
Two trillion is not paltry. If Reagan was a Democrat, you'd be squealing like a stuck pig about how irresponsible that "paltry" two trillion were.

Not actually skippy. Reagan faced the Democrat Tip O'Neill in congress. Reagan wanted less spending but got shafted.

Are you happy knowing Obama will likely hit close to ten trillion of new debt?

Bo-4
03-15-2015, 12:05 PM
Two paltry trillion increase in 8 years?

Hell, Obama has banked 8 trillion losses in only 6 years and he is not done yet.

We now know what red ink looks like.

Was Reagan paying interest on George W's 6 trillion for unfunded wars and unfunded script bennies?

George W. Bush: Added $5.849 trillion, a 101% increase to the $5.8 trillion debt level at the end of Clinton's last budget, FY 2001.

Peter1469
03-15-2015, 12:23 PM
Was Reagan paying interest on George W's 6 trillion for unfunded wars and unfunded script bennies?

George W. Bush: Added $5.849 trillion, a 101% increase to the $5.8 trillion debt level at the end of Clinton's last budget, FY 2001.

And Obama is on track to add $10T.

Bob
03-15-2015, 12:31 PM
Was Reagan paying interest on George W's 6 trillion for unfunded wars and unfunded script bennies?

George W. Bush: Added $5.849 trillion, a 101% increase to the $5.8 trillion debt level at the end of Clinton's last budget, FY 2001.

So, the wars never cost the USA a dime.
So, what is your problem?

Safety
03-15-2015, 12:55 PM
An example of using statistics to lie.

We paid that Reagan debt off under Clinton, or so we are told.

It is not possible to pay Obama's debt off.

Well, Clinton was two presidents after Reagan, wanna give some leeway here considering Obama is still in office?

Peter1469
03-15-2015, 01:01 PM
Well, Clinton was two presidents after Reagan, wanna give some leeway here considering Obama is still in office?

Maybe the math challenged will. We can't pay off $18T without destroying our economy.

That is the difference. The Fellow Travelers bring up Reagan's debt, which was manageable, and attempt to compare it to Obama's debt that is not manageable.

Bo-4
03-15-2015, 01:17 PM
And Obama is on track to add $10T.

Nah, only if you saddle him with the interest on everyone else's debt (which you will).

zelmo1234
03-15-2015, 01:29 PM
I guess I'll have to post this in two threads now...

http://www.washingtonpost.com/blogs/fact-checker/wp/2014/12/08/does-obama-have-the-worst-record-on-any-president-on-the-national-debt/

Size of national debt when Reagan took office:*$1 trillion
Size after six years:*$2.3 trillion*(130 percent increase)
Size at the end of his presidency:*$2.9 trillion*(190 percent increase)

And still a very small portion of GDP,

But he also had a lot to show for it

He rebuilt the military and it was once again respected around the world.

The military spending put the then USSR into a insolvent state and he ended the cold war.

He created 21 million new jobs and ended the energy crisis

Obama will rack up 10 trillion doubling the Amount of all other presidents combined. and there are 9 million fewer people working, we are the laughing stock of the world once again, he managed to lose 2 wars.

there is a really big difference in the results

Polecat
03-15-2015, 01:34 PM
When GM was on the ropes there was no shortage of criticism from DC on the auto maker's irresponsible behavior. Ironically the federal government has mirrored this same behavior with similar results.

Bob
03-15-2015, 01:46 PM
And still a very small portion of GDP,

But he also had a lot to show for it

He rebuilt the military and it was once again respected around the world.

The military spending put the then USSR into a insolvent state and he ended the cold war.

He created 21 million new jobs and ended the energy crisis

Obama will rack up 10 trillion doubling the Amount of all other presidents combined. and there are 9 million fewer people working, we are the laughing stock of the world once again, he managed to lose 2 wars.

there is a really big difference in the results

Well said about Reagan.

Democrats won't admit we would be just fine by reverting to the Clinton budget. They admire him but won't deal with a return to his budget.

Peter1469
03-15-2015, 01:46 PM
Nah, only if you saddle him with the interest on everyone else's debt (which you will).

He will be directly responsible for 50% of that interest. Anyway, were Obama a visionary he would have ceased deficit spending and made our economy stronger.

Bob
03-15-2015, 01:49 PM
Nah, only if you saddle him with the interest on everyone else's debt (which you will).

You saddled republicans when they were in office.

Bo-4
03-15-2015, 01:59 PM
He will be directly responsible for 50% of that interest. Anyway, were Obama a visionary he would have ceased deficit spending and made our economy stronger.

How do you stop spending all together?

Yeah, we know y'alls drill: kill Medicare and SS, end FDA, FAA, and a few other agencies, close public schools and then grow the military.

Voila eh? ;-)

Bob
03-15-2015, 02:17 PM
How do you stop spending all together?

Yeah, we know y'alls drill: kill Medicare and SS, end FDA, FAA, and a few other agencies, close public schools and then grow the military.

Voila eh? ;-)

You loved Clinton. This was not too many years ago.

Tell us, what is the maximum spending by Clinton?

Did he kill off those agencies you speak of?

We are so much higher than Clinton that it is criminal.

Hal Jordan
03-15-2015, 02:22 PM
How do you stop spending all together?

Yeah, we know y'alls drill: kill Medicare and SS, end FDA, FAA, and a few other agencies, close public schools and then grow the military.

Voila eh? ;-)

10858

Green Arrow
03-15-2015, 03:02 PM
How do you stop spending all together?

Yeah, we know y'alls drill: kill Medicare and SS, end FDA, FAA, and a few other agencies, close public schools and then grow the military.

Voila eh? ;-)

Do you know the difference between regular spending and deficit spending?

Somehow, I don't think you do.

donttread
03-15-2015, 05:12 PM
The establishment of both parties spend like drunken sailors.


Like drunken sailors in a whorehouse

Peter1469
03-15-2015, 05:38 PM
How do you stop spending all together?

Yeah, we know y'alls drill: kill Medicare and SS, end FDA, FAA, and a few other agencies, close public schools and then grow the military.

Voila eh? ;-)

You have to do it over time. Cold turkey won't work.