Obama walks out of debt meeting

To be honest, I wouldn’t even want to walk into one. Considering we know there’s going to be zero compromise on behalf of Republicans, I’ve got a feeling the “meeting” amounts to little beyond the GOP telling him to do everything they want and nothing else.

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11 responses to “Obama walks out of debt meeting

  1. LIKE A KID WHO DOESNT ALWAYS GET HIS WAY..I WILL TAKE MY BALL AND GO HOME.  WHAT A JOKE FOR A SO CALLED LEADER WITH NO EXECUTIVE EXPERIENCE.  I VOTED FOR THIS FOOL.  SHAME ON ME.

    • Are you a fucking idiot or just a troll? Have you been paying any attention to this issue or to the negotiations between Obama and the Republicans, or are you just going HURR OABAMA LEAVING GRR STOMP BAD!

      He’s not the one who’s completely missed the point and definition of the word compromise.

  2. I don’t think you understand what “compromise” means to us.  We’re already compromising if we agree to co-sign any more debt for you.  And frankly, I resent the premise that we have to meet conditions in order to get your side to take the money.  We all know that the money is like crack to big government libs.

    If you guys never want to take another dime… well, just throw me into that briar patch.  The truth is, I look forward to seeing Obama shoot the hostages as he decides who best to withhold payment from in order to gin up hatred for the right.  Whoever it is that doesn’t get paid after the 2nd, it’ll only be because that’s who Obama chose not to pay.

    And I’m sure the Republicans will be happy to remind everyone of that next year.

  3. Too many people seem to think that raising the debt ceiling is like getting a higher limit on your credit card, allowing you to spend more. It’s not. Raising the debt ceiling is simply saying that we will continue to pay the bill for what we’ve ALREADY spent. Interesting that this was never an issue during the Bush years, when Cheney told us that deficits don’t matter and Congress agreed to raised the debt ceiling at least a half a dozen times. 

    Seems to me that if you owe money you (a) increase your income, (b) cut your spending, or (c) a combination of a & b. And “c” is what Obama’s proposing. His leaving the room is not “taking his ball and going home”, it’s saying that “you guys are behaving like petulant children and I’m done wasting my time. Call me when you grow up”. 

    Meanwhile, everyone blames Obama for the debt, forgetting that it’s Congress that approves spending – and forgetting that the previous administration REDUCED revenue (with his tax cuts for the wealthy) and INCREASED spending (how much have Bush’s wars cost us so far?). Blaming Obama for the current debt is like blaming your mail carrier when the credit card bill arrives. 

    I think Americans who are watching this spectacle are finally realizing that the only goal of the Republcians is to make the economy worse (or, at least, not improve) hoping it will make Obama look bad so they can win the presidency in 2012.(Michelle Bachmann said as much in an interview http://www.youtube.com/watch?v=X9L9DAL__Kk ) And I’ve got to admit, those guys are good at winning elections – but governing? Not so much.

    • The debt ceiling is not about continuing to pay the bill for what we’ve already spent.  That accounts for some $22 billion per month, out of $170 billion that the government will take in.  That $22B is the interest on money we’ve already borrowed.

      What’s at stake is $135B in scheduled spending that was never funded.  Congress assumed revenues would rise due to economic recovery that has never materialized, and that it could simply borrow the rest.  The government has now borrowed about 12 years’ worth of deficits (at historical rates) in three years.

      The real credit limit is how much money the government can raise by selling bonds.  Democrats are only pretending that they if they could just overcome Republican objections everything will be hunky-dory.  In fact, US debt is increasingly difficult to sell, and processes like “quantitative easing” — buying our own debt — is a very last resort, favored only when nobody else is willing to pay for it.  And with $14.4 trillion in US debt, it’s hard to find someone in the world who hasn’t already bought their fill.  That’s our real credit limit.

      When you owe money you don’t “increase your income.”  The presumption is that everyone already maximizes their income, and when you owe a lot of money you a) stop borrowing, and b) start paying it down.  The battle at hand is over whether to keep borrowing (irrespective of whether we actually have much credit left to begin with).

      As for, “Everyone who blames Obama for the debt, forgetting that it’s Congress that approves spending…”  Well, that Congress was thrown out of the House, and this House is not bound by the previous regime’s commitments.  And spending was a key factor in all of that.  This House is doing exactly what the voters want, as evidenced by poll after poll.  Furthermore, the time to blame Bush’s tax cuts on everyone else expired when Obama renewed them.  He gets his share of the blame, and he now has to reconcile his actions against the words he used to justify extending those rates back at the beginning of the year.  That’s far more involved than my mailman is with my credit card bills.  But more importantly, Obama’s got the job because of his promise to take responsibility, not to evade it.  He doesn’t deserve the charity of your forgiveness.

      Republicans’ goal is clearly to throw out this socialist movement for the good of the country.  And they are supported by a majority of people who would rather be free than enslaved by politicians’ debts.

      The free ride is ending.  Even if for no other reason than that we have simply reached the end of the tracks.

      • “Scheduled spending” or “already spent”… tom-ay-to, to-mah-to. Either way it’s not new spending, it’s debt incurred by an already-approved-by-Congress budget.

        “The presumption is that everyone already maximizes their income, and when you owe a lot of money you a) stop borrowing, and b) start paying it down.”

        You shouldn’t presume. There’s lots of folks who aren’t in debt, they’re not paying anything “down”, they’re just trying to make ends meet. But wages are stagnant (and have been for a long time) while prices of basic necessities are up. They can no longer make it on a full time job, so they pick up an addtional part-time job to supplement their income…  moms who would LOVE to be able to stay at home with their kids can’t –  instead they have to find jobs because the days of one breadwinner in the family are long gone… young people are postponing moving out of their parents homes, or moving back in with their parents – partly because they can’t find living-wage jobs and/or partly because their parents need the additional contribution to the household budget. These are some of the ways folks are increasing household revenue.

        “Congress assumed revenues would rise due to economic recovery that has never materialized”

        And it won’t till people realize that conservative “trickle down economics” do not work. The wealthy and big corporations don’t create jobs, you and I spending our money, creating demand – that’s what creates jobs. It’s trickle UP. We need to tax the heck out of any company that closes up shop and moves overseas. We need to raise import tariffs so it’s cheaper to manufacture here than to bring stuff in from some third world sweat shop. 

        “This House is doing exactly what the voters want, as evidenced by poll after poll.”
        Not sure which polls those are, because I’m seeing Congressional approval ratings below 20% – and some polls as low as 9%. The voters want them to focus on jobs and the economy, not play political games. The people are getting sick and tired of Republican obstructionism – no new ideas, and “no” to anyone else’s ideas.   

        “the time to blame Bush’s tax cuts on everyone else expired when Obama renewed them. He gets his share of the blame…”
        I wish Obama hadn’t renewed them, but he had little choice – Republicans wouldn’t approve an extension to unemployment benefits unless he did. Meanwhile, Bush’s cutting revenue by way of those tax cuts, while spending borrowed money like a drunken sailor on shore leave has left us in a hole that will take decades to get out of. 

        “Republicans’ goal is clearly to throw out this socialist movement for the good of the country.”
        Republicans have made it clear what their priority is – Mitch McConnell said it – his primary goal is make sure Obama is a one term president. Not jobs or the economy. Not poverty. Not our crumbling infrastructure. Not the wars. Not education. Not the environment. Not health care. None of those things. He wants a Republican in the White House, and he and his comrades are doing what they can to make sure nothing constructive gets done in the hopes of making Obama look bad. They seem perfectly willing to let America fail for political gain. 

        And once you throw out words like “socialist” you lose credibility. I don’t think Republicans actually know what socialism is, because Obama is certainly no Socialist – but it sure is a good scary word to keep the people fearful. 

      • “it’s not new spending, it’s debt incurred by an already-approved-by-Congress budget”

        No, it’s debt incurred by an approved budget in a framework where debt must be separately authorized.  They scheduled the expense without securing the funding, or without considering that those whose approval is necessary for that funding might have a say in that spending.

        “There’s lots of folks who aren’t in debt, they’re not paying anything “down”, they’re just trying to make ends meet, blah blah blah”

        The point is that people do not have the option of increasing income as you’ve suggested.  The real-world remedy for real-world overbudgeting is to cut expenses.  Raising taxes on a fragile economy is a recipe for disaster.

        “And it won’t till people realize that conservative “trickle down economics” do not work.”

        Ever heard the axiom that you can’t get a job from a poor person?  That’s “trickle down” economics.  Trickle down economics is the realization that nothing can be consumed before it’s been produced.  It’s reality — learn to deal with it.

        “Bush’s cutting revenue by way of those tax cuts, while spending borrowed money like a drunken sailor on shore leave has left us in a hole that will take decades to get out of.”

        You’re wilfully ignorant. Obama is accruing deficits at four times the rate Bush did, with no end in sight and no tax base to pay for it.

        “his primary goal is make sure Obama is a one term president. Not jobs or the economy. Not poverty. Not our crumbling infrastructure. Not the wars. Not education. Not the environment. Not health care.”

        Obama in the White House threatens jobs, the economy, causes poverty, wastes infrastructure. Nothing has done more damage to education, the environment or healthcare in America than liberalism.  Conservatives understand this, and so yes, removing Obama is a top priority for every conservative who cares about America.

        It will shock you to see how fast and strongly this economy — this entire nation — recovers when that leftist idiot has been thrown out.

        And Obama absolutely is a Marxist, regardless of how you try to hide behind some technical definition of socialism.

      • “Not sure which polls those are, because I’m seeing Congressional approval ratings below 20% – and some polls as low as 9%. The voters want them to focus on jobs and the economy, not play political games.”

        Polls are overwhelmingly against raising the debt limit — with something like 22% in favor.  The number against raising the limit consistently goes *up* when respondents are told what cuts would be forced by failure to raise.

      • Sources on that? I’d like to point out that the public is OVERWHELMINGLY in favor of raising taxes in order to fix this.

      • http://www.gallup.com/poll/148454/debt-ceiling-increase-remains-unpopular-americans.aspx
         
        http://www.gallup.com/poll/147524/americans-oppose-raising-debt-ceiling.aspx
         
        http://www.cbsnews.com/8301-503544_162-20056258-503544.html

        There are plenty like this. 

        The public tends to favor taxing “the rich” to pay for everything. That’s not the same as what you said.

        I’m dubious about any claims that the public wants taxes in general raised to pay for anything.

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