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lawrocket

US "Default" is Inevitable

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Republicans tend to complain that Obama hasn't done much in his term, yet its because there is a Republican led congress that he can't get a lot of things through.



I am not a Republican. I think Obama has done too much.

Just because that is how it works doesn't make ACA a good bill or one that the majority of Americans want.


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They would be the first to scream and shout and jump up and down in anger and righteous indignation if the situations were reversed, and the democrats "fought the good fight" and refused to pass a CR unless, lets say, military spending underwent a huge cut.



I am all for spending cuts for military or any Government spending.

The House is not obligated to fund every law if they don't want to. That is also the law.

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beowulf


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They would be the first to scream and shout and jump up and down in anger and righteous indignation if the situations were reversed, and the democrats "fought the good fight" and refused to pass a CR unless, lets say, military spending underwent a huge cut.



I am all for spending cuts for military or any Government spending.


Fair enough, I apologise for lumping you in with some of our other posters.

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The House is not obligated to fund every law if they don't want to. That is also the law.


True - then they should have a vote to have the law repealed. Again.
Rather than tying it into a hostage situation with the rest of the economy until they get their way.
Never try to eat more than you can lift

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True - then they should have a vote to have the law repealed. Again.
Rather than tying it into a hostage situation with the rest of the economy until they get their way.



The House can't repeal it. They have proposed budgets. They have tried to negotiate an agreement. Obama and the Democrats are refusing to negotiate. They are the ones holding everything up.

In my opinion they shouldn't raise the debt limit. They should cut spending and pay the interest on the debt.

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beowulf

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True - then they should have a vote to have the law repealed. Again.
Rather than tying it into a hostage situation with the rest of the economy until they get their way.



The House can't repeal it. They have proposed budgets. They have tried to negotiate an agreement. Obama and the Democrats are refusing to negotiate. They are the ones holding everything up.

In my opinion they shouldn't raise the debt limit. They should cut spending and pay the interest on the debt.



People forget that, as a Senator. Obama voted twice against raising the limit and said to do so was evidence of a failure of leadership

this whole process is working as the founders intended
All the bitching is just cry babies not getting what they want
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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Yeah, what he said was right. Unfortunately I don't think he was sincere. He is a liar just like the majority of politicians. His lies are so obvious it makes the media look like they are complicit in his lies for not calling him out. Every time he says raising the debt limit doesn't increase the debt I just laugh at him. He is so full of shit.

It's not working entirely as the founders wanted. I doubt that any of them would be all that happy to see or even imagine the size of the debt.

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beowulf

Yeah, what he said was right. Unfortunately I don't think he was sincere. He is a liar just like the majority of politicians. His lies are so obvious it makes the media look like they are complicit in his lies for not calling him out. Every time he says raising the debt limit doesn't increase the debt I just laugh at him. He is so full of shit.

It's not working entirely as the founders wanted. I doubt that any of them would be all that happy to see or even imagine the size of the debt.



Yes
As a Senator. I agreed with him

No reason to raise it anymore
time to stop the spending increases
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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The House is not obligated to fund every law if they don't want to. That is also the law.
True - then they should have a vote to have the law repealed. Again.
Rather than tying it into a hostage situation with the rest of the economy until they get their way.



This isn't the first time the House has defunded a law. Just because a bill was passed doesn't mean it's automatically funded.

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beowulf

They should have stopped raising the debt limit a long time ago.



Yep

and everytime I hear the its is the law of the land bull shit
I say so was the Bush tax cuts
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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rushmc

***They should have stopped raising the debt limit a long time ago.



Yep

and everytime I hear the its is the law of the land bull shit
I say so was the Bush tax cuts

How about the Fugitive Slave Act of 1850. That was the law of the land. There have been plenty of laws that have been repealed. Just because ACA is a law doesn't mean it's right or immune.

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ShcShc11

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US "Default" is Inevitable



Lucky for us, I can tell you it is not.
The U.S is, for example, in a better medium and long-term economic structure/ forecast than Canada.

And Canada is in a decent position.


Cheers!
Shc


So you're saying that within the next 50 years, the US will have enough investors to pro:(vide $75 trillion or so in credit? I mean, that amount of money is so much that it just cannot be reasonably comprehended. A light year is about 5.9 trillion miles. If a dollar was a mile we'd be approaching 3 light years right now. In a couple of years we'll be at a parsec.

These terms are created by astronomers because people just can't comprehend or work with larger numbers. Heck, I can write $17 trillion quite quickly. Maybe I can write $17,000,000,000,000. But even that's pretty short.

$17 trillion seconds is over a half a million years. 75 trillion seconds is about 2.5 million years. Just to give an idea of the numbers.

I don't think people are built to understand numbers that vast...


My wife is hotter than your wife.

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Just tax this lot - problem solved.

http://www.huffingtonpost.com/2013/05/31/richest-1-percent-control-wealth_n_3367432.html

The wealthiest 1 percent now control 39 percent of the world's wealth, and their share is likely to grow in the coming years, according to a new report.

The world's total private wealth grew 7.8 percent last year to $135 trillion, according to the Boston Consulting Group's Global Wealth report. The top 1 percent control $52.8 trillion, and those worth $5 million or more control nearly a quarter of the world's wealth.

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[Reply]then they should have a vote to have the law repealed. Again.



Since the AVA decided that funding (like everything else in it) should be passed to the future, the law doesn't do shit unless it is funded. Period.

Let's say you want to stop the military. Easy - don't fund it. It's discretionary and must be specifically appropriated. Since the Constitution gives the House the power of the purse, then all ACA spending must originate from the House. Period.

Turns out that you have to read the law to know what's in it. And what's in it is, to paraphrase, "this law does nothing unless Congress approves spending on it every single year."


My wife is hotter than your wife.

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[Reply]Just tax this lot - problem solved.



Hmmm. The article says that the top 1% control about $53 trillion. So taxing the top 1% in the world and taking every fucking dime from them STILL leaves about a $30 trillion hole in the US budget by about 2080.. It's not even 2/3 of what's needed.

Problem solved? No. It's an indication of just how fucking huge the problem is. Even taking every cent from the 1% - worldwide - won't close the gap in the US budget.

Problem not solved. Problem way bigger than that.


My wife is hotter than your wife.

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rushmc

the republicans did win majority numbers in the house
they ran on repealing ACA



Of course, those House Republicans received some 2 MILLION fewer votes than the Dems, thanks to gerrymandered districts.
...

The only sure way to survive a canopy collision is not to have one.

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>This was forced on the country the by the Democrats.

It was voted on by both houses, signed by the President and approved by the Supreme Court. There could not be a better example of something that has gone through every Constitutional approval process we have.

If people don't like it, we fortunately have a process to repeal it that should be followed. Polls show that people want to give it a chance. The republicans don't want to heed the will of the people, so they figure that by threatening the country with default they can change the law outside the Constitutional process. Fortunately it looks like they will fail.

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[Reply]The republicans don't want to heed the will of the people



According to the polls, the ACA IS against the will of the people.

Sure, it's Constitutional. It went by Constitutional process. Just like what the GOP is doing.

Check out that Constitution. What the GOP is doing is exactly what the Constitution empowers them to do.


My wife is hotter than your wife.

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This stuff is not nearly as difficult as Congress is making out to be.

Increase personal income taxes mildly

Increase corporate taxes mildly

Cut costs of essential government services mildly

Cut costs of non-essential government services moderately

Require discrectionary spending be lumped together in periodic single-purpose bills (priority based rather than snuck in as riders in unrelated bills)

Increase capital gain taxes moderately

Quit handing out subsidies and tax breaks in exchange for votes

Blues,
Dave
"I AM A PROFESSIONAL EXTREME ATHLETE!"
(drink Mountain Dew)

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This stuff is not nearly as difficult as Congress is making out to be.

Increase personal income taxes mildly - GOP won't go for that

Increase corporate taxes mildly - GOP and Dems won't go for that (well, not without writing exceptions)

Cut costs of essential government services mildly - Dems won't go for that.

Cut costs of non-essential government services moderately. - Dems won't go for that. Neither will GOP.

Require discrectionary spending be lumped together in periodic single-purpose bills (priority based rather than snuck in as riders in unrelated bills) - neither will go for that

Increase capital gain taxes moderately - GOP won't go for that

Quit handing out subsidies and tax breaks in exchange for votes - fuck no. That eliminates the power of both sides.


My wife is hotter than your wife.

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rushmc

***>Its absolutely absure that dems want to be exempt from obamacare.

They're not.



Yes
But they do pay themselves extra tax dollars so they suffer less than the rest of the country
and the ACA would mean that extra money in the form of " health benifits" Woun't be taxed as income.
They have something better,then Us
"VITTER AMENDMENT"
"Con" gress and their staff have Exempted themselves from the ACA.

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lawrocket

[Reply]Just tax this lot - problem solved.



Hmmm. The article says that the top 1% control about $53 trillion. So taxing the top 1% in the world and taking every fucking dime from them STILL leaves about a $30 trillion hole in the US budget by about 2080.. It's not even 2/3 of what's needed.

Problem solved? No. It's an indication of just how fucking huge the problem is. Even taking every cent from the 1% - worldwide - won't close the gap in the US budget.

Problem not solved. Problem way bigger than that.



Yes it is. Your projections are for 50 years. In 50 years the 1% will have over $800 trillion and own over half the world's wealth.

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rushmc


and everytime I hear the its is the law of the land bull shit
I say so was the Bush tax cuts



What exactly is your point, here? The Bush tax cuts, as passed, were good for ten years. And instead of sunsetting away as intended, they have for the most part been extended indefinitely. Given that the House was already controlled by the GOP at this point, surely you're not arguing this extension was forced by the Democrats?

So trying to figure out the point, here.

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beowulf


Look into how ACA was voted into law. It was done via gamesmanship and during a very short period when the Democrats had the majority in both the House and the Senate. If it were voted on today it would not pass. There are plenty of polls showing that a majority of those polled do not want it.



You're either slightly mistaken in your recollection, or telling a big fib right now.

It was voted into law 60-39 in the Senate. It occurred during a short period of time when the Democrats had not a majority, but a supermajority in the Senate, an extremely rare circumstance. And of course a necessary one in an environment where the GOP has been willing to indefinitely fillibuster even minor Senate confirmations of ambassadors to minor nations.

And how did they get to have such a majority? Because the GOP was so unpopular in the second term of Bush. Mired by the crash, the wars, they already had lost the House back in 2007, and got destroyed in the 2008 elections.

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rushmc

***They should have stopped raising the debt limit a long time ago.



Yep

and everytime I hear the its is the law of the land bull shit
I say so was the Bush tax cuts

You mean the same Bush tax cuts that had an end date written into them?

Blues,
Dave
"I AM A PROFESSIONAL EXTREME ATHLETE!"
(drink Mountain Dew)

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