If you've been following the news then you know about this debt ceiling crisis, and you know that today negotiations hit an all time low when Boehner ended talks with the white house and decided to work through congress instead. I'm just interested to see how you guys feel about this crisis
Poll: Debt ceiling crisis.
- Thread starter JB1528
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Since the Republicans are the ones holding the US economy hostage in a massively hypocritical way (where was all this rhetoric when we raised the debt ceiling 7 times under Bush?), it's way, way more on them. The Democrats, if anything, are compromising too much. Call their fucking bluff.
Funny, its spelt 'Bonner' but pronounced 'Bayner' very weird.JB1528 said:
Democrats, please, raise the ceiling so the world doesn't go into turmoil, they need to borrow more to invest more, to earn more money, to pay off the debt, if they default, all hell will break loose.
I'm really in favor of neither party. A default would be both good and bad. It would very bad, because it would screw up the economy on a large scale, but it would finally get the US finances under control.
The debate for cutting spending has been building up to this moment, and I think congress has shown us already that they have no real intention of cutting spending.
The default, unfortunately, is gonna be what it takes to get the budget under control, otherwise, we're just gonna hit a default later down the line, when the US owes EVEN MORE money. Take the hit now while you can.
The debate for cutting spending has been building up to this moment, and I think congress has shown us already that they have no real intention of cutting spending.
The default, unfortunately, is gonna be what it takes to get the budget under control, otherwise, we're just gonna hit a default later down the line, when the US owes EVEN MORE money. Take the hit now while you can.
Forgive my bluntness, but that?s a very negative and fear driving way to look at things.zehydra said:
There are several countries around the globe, in debt to other countries, through various means, that allow themselves to borrow more money, to restore their own economies, and get themselves back into a position to be profitable internally, allowing their goods and services to trade abroad, resulting in more money coming into the country, and thus, paying their debt.
This can be EASILY achieved, if those f*cks at the top 2%, just them, would pay a decent amount of tax (40/45%, not 90, and certainly not just 30%), to the nation where they've EARNT all their profits.
Raising the ceiling to recover the United States has an international vested interest, and I am so pissed off, that the bastards who now run the Republican party, are in a position to screw EVERYONE internationally. The US can shoot it?s in the head right now, or it can try and make things work, but suicide through no debt ceiling increase, is so cowardice, it?s disgraceful that those people would call themselves Americans.
THE DEBT CEILING IS BULLSHIT. IT'S BEEN RAISED COUNTLESS TIMES BEFORE AND IT'S GOING TO BE RAISED AGAIN. IN JUST 2006 THEN SEN.OBAMA WAS AGAINST A DEBT CEILING RAISE NOW HE'S PUSHING FOR IT SO THAT THE STATE CAN KEEP SPENDING.
we need to stop and turn the whole damn thing around. our currency is shit and our people are worthless. nobody knows how to think anymore.
we need to stop and turn the whole damn thing around. our currency is shit and our people are worthless. nobody knows how to think anymore.
I don't see that happening any time soon. I don't know even if taxing the top would even be enough, the way things are moving. I'm not trying to scare anyone, it's just that the US can't continue to borrow and spend, like it's been doing for over a decade, and it's become clear to me, that with the political atmosphere the way it is, you'll never see those tax increase on the rich until the republican party is more or less out of power, which I don't see happening unless things collapse. Some changes require more than democracy.Conza said:
Situations change. Caps doesn't make you smarter.Acting like a FOOL said:
If he once was against it but now for it...Does that mean that there is a point where the situation has changed so drastically that he had to change his mind?
But yeah, my Dad's (Greg Liddell, Ex Head of International Equities at QIC, Australia) been predicting this for literally my entire life.
When Bush cut the banking regulation policies put in place for this and the housing crisis and toxic assets ruined the economy, he spent 2 years going I told you so and making a ton of money having set up for that EXACT situation...A LOT of money. Like, over 2 mil a year a lot.
So knowing that, what does he say about the current situation?
He says America's been doomed since the start of the Bush administration and that the effects will still be seen for about another 20 years or so, no matter what happens, you guys are screwed.
Ozzie Ozzie Ozzie.
I know we are. I'm working to become an economist. I'm not to worried because 20 yrs is plenty of time to get to Switzerland where I'll be safe from all of this crap.Mr.Numbers said:
Ozzie... Ozzie...Ozzie, indeed. Shame on you. I'm sorry to say, my fellow Australian, you may be failing to see the implications which a bankrupt America has, for the globe, not just our own sun burnt, middle of no where island here.Mr.Numbers said:
A broke America, means our big brother and good buddy... 'America', who's been with us for the better part of a century, to protect us from any foe, an ally so important, we go everywhere with them, do everything they do, and buddy up real close, just because we need that buddy. Now, imagine that buddy is broke. Hmm, where does that leave poor little Australia? On the back of a few rich Chinamen, that's where, and I don't know about you, but that humble little place, where Nixon (*cough* Kissinger *cough*) once visited, is even more likely to accelerate past the United States, and become the most dominant country in the world.
That's bad for us yobbos down here, don't think twice that it isn't.
Don't see, what? Obama convincing the Republicans to raise the limit? I think he'll just eventually override and take control, he's the President, he even invaded Libya without asking anyone, remember? He'll do it because he believes it's the right thing, and please Mr. President, do it quickly.zehydra said:
I bow to your logic on that second point though, it may be too late to tax the rich indeed, but I think the trickle down economics doesn't work, and I've said this on these forums before, but SPQR really does apply to a large macro economy, you need the little people spending a lot of little amounts of money, not just the big people being the big spenders.
Mmm, quite possible unfortunately, another point well made. I do hope you're wrong though, because if a collapse happens now, Obama will get the blame. I guess he really does need to revive, then kill Osama Bin Laden 2-3 more times to be 100% certain of re-election.
It's politics, which means that both sides will just snipe at each other rather than actually doing anything about it. We'll ***** ourselves into the ground.
I really don't know which side I take in the whole debate.
I really don't know which side I take in the whole debate.
They've both been idiots. I'm just going to sit back, put my feet up and have a nice cup of tea. Waiting for one thing to happen - then for it to all sort out inevitably then watch whichever arrogant side got it's choice and says 'I told you so!' even though this would probably sought itself out faster if they just agreed for once and ACTUALLY got things done for a change.
Either way though - I think we can all agree it's a great laugh eh? Popcorn, anyone?
Either way though - I think we can all agree it's a great laugh eh? Popcorn, anyone?
The last time the US Gov missed an interest payment, it cost us $83 trillion in misc. penalties.
$83 trillion
These morons have a job to do and should have raised the debt ceiling - making it possible to pay the bills we already owe! - months ago. There is plenty of time for political theater later.
$83 trillion
These morons have a job to do and should have raised the debt ceiling - making it possible to pay the bills we already owe! - months ago. There is plenty of time for political theater later.
I love the fact that the Republicans passed "Cut, Cap, and Balance" in the House of Representatives which would raise the debt ceiling so we can continue running our country, cut an equal amount from our budget so we start working our debt down immediately, and require the vote on the 28th Amendment to our Constitution requiring the Federal Government to maintain a balanced budget so this never happens again. Then the Senate refused to even open the Bill for debate...
When you've got a Bill that has made it 1/3 of the way to becoming law which would fix the present situation, insure that we don't get into this mess again, and it's called by the other side and the media "a political ploy"... it makes me very nervous for the future of my country.
When you've got a Bill that has made it 1/3 of the way to becoming law which would fix the present situation, insure that we don't get into this mess again, and it's called by the other side and the media "a political ploy"... it makes me very nervous for the future of my country.