For Adults Only!

[7days]

So you posted and article from left wing NPR and another from left wing WAPO who's author is "a professor and past president at Harvard, was Treasury secretary in the Clinton administration. He was economic adviser to President Obama from 2009 through 2010." :huh:

How about the Obama administration presenting a budget. You know that one that they have been able to do for the past 2+ years!

Budget Failure Drives Debt Ceiling Fight

Good point, it appears that the democrats are the ones sitting on sidelines throwing tantrums and not facing the reality of what they have caused. They are spending without any concern for the budget yet wanting the republicans to bend so they can spend more. What a mess.

 

[7days]

The default is a scam. The federal gov. has a constant flow of over 2 trillion per year. our debt service is about 200 billion per year. Make the debt payments and still have about 2 trillion left to spend. They would need to write a new budget, thats all.

 

[dapoes]

What About the Trust Fund?
A teachable debt-ceiling moment.

President Obama famously played to grandma's Social Security fears this week, saying in an interview about the debt-ceiling talks that "I cannot guarantee that those checks go out on August 3 if we haven't resolved this issue because there may simply not be the money in the coffers to do it."

To which a friend of ours replied, whatever happened to the trust fund?

That's the fund that, according to our politicians, is holding all those Social Security taxes that workers pay. Why can't Congress or Mr. Obama dip into that $2.6 trillion cash hoard to pay benefits until this debt-limit business gets sorted out? After all, as White House budget director Jack Lew put it in a February USA Today op-ed, "Social Security benefits are entirely self-financing."

Not quite. As everyone in Washington knows, the trust fund contains not cash but IOUs. Payroll taxes don't go to some vault in Fort Knox, and they certainly aren't invested. When Social Security runs a surplus, Congress spends the money immediately on something else and then the government claims its owes a debt to itself. Where the money will come from to pay these IOUs is anybody's guess—though Mr. Obama is hoping it will be higher taxes.

 

[Ms Tree]

Good point, it appears that the democrats are the ones sitting on sidelines throwing tantrums and not facing the reality of what they have caused. They are spending without any concern for the budget yet wanting the republicans to bend so they can spend more. What a mess.

You are so right. The republicans are such spend thrifts. They don't waste a penny. If they could run the world even our farts would smell good.

 

[7days]

You are so right. The republicans are such spend thrifts. They don't waste a penny. If they could run the world even our farts would smell good.

No the republicans have been complicit in running up the debt as well. But lets look the at the facts:

In 2006 Congressional dems unanimously voted no to raise the debt ceiling. Including then Senator Barack Obama.

They were able to demoralize the republican and independent electorate that enabled them to win both houses and the presidency.

During that time of Jan/2009 thru Jan/2011 they could have easily passed any budget, and raised the debt ceiling.

Over the past 800+ days they have not been able to produce a budget and when Obama did back in April the proposal was defeated in the senate by his own democratic majority.

They went on a spending spree by spending more then the previous 43 presidents combined without a budget and now want to raise it to spend more.

They could have passed a budget when they had the majority, but didn't. Why is that?
They could have raised the debt limit when they had the majority, but didn't. Why is that?

 

[dapoes]

The supposed "adults" in this argument only want to frame the argument as the rich aren't paying their fair share, and they need to pay more.

Fact is 50% pay no taxes and the top 1% pay 40% of the tax burden. Yet the elitists say they still aren't paying their fair share.

 

[7days]

The supposed "adults" in this argument only want to frame the argument as the rich aren't paying their fair share, and they need to pay more.

Fact is 50% pay no taxes and the top 1% pay 40% of the tax burden. Yet the elitists say they still aren't paying their fair share.

That argument of theirs never holds water.

 

[777 fixer]

In 2006 Congressional dems unanimously voted no to raise the debt ceiling. Including then Senator Barack Obama.

They were able to demoralize the republican and independent electorate that enabled them to win both houses and the presidency.

The republicans did a preety good job on their own, they did not need much help from the democrats.

 

[7days]

The republicans did a preety good job on their own, they did not need much help from the democrats.

History tells a much different story. The democrats were able to sell their message that the republicans were doing much harm to the economy. They were howling when unemployment was at 5.2% at how Bush was destroying the economy. So they were able to turn the populous to their favor and in a short term of two years bloated the deficit by 4.2 trillion and unemployment soon to reach 10%.

 

[777 fixer]

History tells a much different story. The democrats were able to sell their message that the republicans were doing much harm to the economy. They were howling when unemployment was at 5.2% at how Bush was destroying the economy. So they were able to turn the populous to their favor and in a short term of two years bloated the deficit by 4.2 trillion and unemployment soon to reach 10%.

So what you're saying is that the American people are idiots who are incapable of thinking for themselves.

Or they are and did not like what they were seeing. Afterall, the GOP did have control of White House and Congress for most of GWB's term. Maybe there were other things they saw that were not related to the economy that they did not like. The GOP lost control of the House and Senate in 2006, not 2008, when the economy was still half way decent.

 

[Ms Tree]

Two ill conceived ground wars and 5,000 dead troops may have been a contributing factor.

 

[7days]

So what you're saying is that the American people are idiots who are incapable of thinking for themselves.

Or they are and did not like what they were seeing. Afterall, the GOP did have control of White House and Congress for most of GWB's term. Maybe there were other things they saw that were not related to the economy that they did not like. The GOP lost control of the House and Senate in 2006, not 2008, when the economy was still half way decent.

I did not say Americans are stupid or incapable of thinking for themselves. You are putting words in my mouth. I am fully aware of that the dems took control in 2006 as well when the economy was still half way decent. However during the entire Bush presidency the democrats beat the drum endlessly on how he was destroying the economy. Like I said they were howling when unemployment reached 5.2% and the deficit was increasing. Now that they had the majority they exploded the debt and unemployment is off the charts. Yet they have not nor will not do anything meaningful expect increase the social welfare state and push a false class warfare argument.

 

[Ms Tree]

That argument of theirs never holds water.

Actually it holds every drop of water. The top 1% of the population are paying 40% of the taxes because they own over 30% of the wealth in the US. The top 50% of the people in the US control over 80% of the wealth in the US so it stands to reason that they will pay a larger amount of money in taxes. Ten percent of $1,000 is more than 15% of $100. When you look at the percentage that they pay on all the wealth they accrued the story is quite different but that does not fit in well with the right wing mantra. Warren Buffet paid less in taxes as a percentage than his secretary did. He has more ways to hide and divert his money than the average worker who relies solely on a W2 as opposed to all the investments that the rich are able to acquire that help protect the rest of their money.

 

[dapoes]

Two ill conceived ground wars and 5,000 dead troops may have been a contributing factor.

And Obama started a third war in Libya.

 

[7days]

Actually it holds every drop of water. The top 1% of the population are paying 40% of the taxes because they own over 30% of the wealth in the US. The top 50% of the people in the US control over 80% of the wealth in the US so it stands to reason that they will pay a larger amount of money in taxes. Ten percent of $1,000 is more than 15% of $100. When you look at the percentage that they pay on all the wealth they accrued the story is quite different but that does not fit in well with the right wing mantra. Warren Buffet paid less in taxes as a percentage than his secretary did. He has more ways to hide and divert his money than the average worker who relies solely on a W2 as opposed to all the investments that the rich are able to acquire that help protect the rest of their money.

No it doesn't make sense and your math makes no sense. You have no understanding of tax laws vs "loopholes mantra" vs tax rate vs corporate tax rates. If you did you would know how flawed your argument is and holds no water.