Obama's Plan For The Debt Crisis

[Oz]

Sweetie:  There you go again trying to blame Bush's last budget on Obama.

When Bush's last budget ended on Sept. 30, 2009, the deficit was $11.9 trillion.

Bush increased the deficit by $6.5 Trillion. (more than doubled it)

And, yes, Clinton's last budget had a $289 Billion SURPLUS.  Bush killed that with his first tax cut.

[sweetwater5s9]

Oz.....get a grip.
 
 
Impossible.  Oz thinks Barry is incompetent to handle his job apparently. 

[Oz]

Who is Barry? 

[hoosier_daddy]

you are lying, jerkwater....the economy had cooled, but no real job loss, only about a 1000 point dja loss before it picked up again, and within 6 months of bush's term it was back where it was.....you are a goddamn liar....

[sweetwater5s9]

Who is Barry? 
 
 
His other legal name or did you miss that a few years ago?

School registration in Indonesia clearly shows his legal name to be Barry Soetoro, citizen of Indonesia.

Not sure when Barry legally changed his name to Barack Hussein Obama, are you?

[Local5th]

When Bush's last budget ended on Sept. 30, 2009, the deficit was $11.9 trillion.

Add it up any way you want. It changes nothing. The simple truth is Bush developed a budget for 2009, it was approved by a veto proof dem majority, and Obama blew it.

Hell, his first big expenditure was signing the stimulus bill in Feb 2009. From that point on there was no hope in hell of staying within the budget.

Now, had Bush had to approve Obama's spending on his budget you might have a case.

[chuck_curtis]

Obama is sitting back and waiting for the crisis to peak and hoping the GOP will wilt and he will just get the Debt Limit raised as
  he originally asked.

There is nothing sacrosanct about Aug 2nd.  If an agreement can't be reached without raising  taxes then let the date pass without raising the limit, so we will find out they are liars (for those of us who don't already know that).

The only thing that will happen is people will get scared for nothing (stock prices will temp fall).   Moody's and S&P will lower the credit rating from a ridiculously high AAA rating to what it should have been lowered to months ago, because further borrowing is a sign of sickness.  Getting your spending act together is a sign of health to follow.

[hoosier_daddy]

future spending should have no affect on congress paying for what it has already spent, chuck.  what part of that don't you understand?  we are now paying for the two dumbfuck wars bush started, that almost all of these repubs were so hot for and voted for....and both of them were put entirely on the credit card, with no accompanying tax hike...in fact, with a huge tax cut voted for during the same time!!  durrrr...hey, let's start two trillion dollar wars and a mega trillion dollar tax cut AT THE SAME TIME and then not raise the debt limit when the next president takes office!!  good fucking plan...

[Oz]

chuck:  Even Boehner's not that dumb:
 
WASHINGTON — House Speaker John Boehner said Wednesday that no one wants to see the nation go into government default as the White House and lawmakers scramble to find a deal to avoid that.
 
The Obama administration says the government will not be able to pay its obligations if Congress does not raise the nation's $14.3 trillion borrowing limit by Aug. 2. President Barack Obama and Boehner, R-Ohio, have both spoken about the importance of avoiding that scenario.
 
Yet while the White House insists Congress will ultimately vote to raise the debt limit regardless of whether an accompanying deal comes together to slash the deficit, House Republicans say no such bill can pass unless it includes commensurate spending cuts.
 
Asked whether House Republicans will ultimately vote to raise the debt ceiling regardless, should it come down to the deadline, Boehner said: "Nobody wants to go there because nobody knows what's going to happen. It's a crapshoot."
 
His office said that Boehner meant going into default would be a crapshoot and that it should be avoided.

[Oz]

One more time:
 
Obama's 2012 Budget Proposal: How It's Spent - NYTimes.com
Feb 14, 2011 – Explore every nook and cranny of President Obama's budget proposal.
www.nytimes.com/packages/...budget/index.html - Cached


The President proposes, Congress disposes.

[chuck_curtis]

Boehner is wrong.  The nation won't go into default for many months after Aug 2 if the ceiling is not raised.  It's all scare tactics.  Let it happen, so will see that.  1.6 trillion of debt is not even real; it's an illusion (in the same way that the money created from it is not real).

[Oz]

So all the people who know about it, Boehner, Obama, Bernake, Treasury, the Fed, Moodys and Standard and Poors and all the others are all wrong? 
 
Highly unlikely.