IDBillzFan Posted January 21, 2010 Posted January 21, 2010 Gotta get it in before Brown takes his seat. This should be well received.
Adam Posted January 21, 2010 Posted January 21, 2010 Gotta get it in before Brown takes his seat. This should be well received. Didn't it get raised twice under the Bush administration as well too? And that isn't meant as the typical "Well the republicans did it." I am just saying both sides continue to mess things up. If we went with the conservative plan for social security, the liberal plan for healthcare and eliminated medicare, then raised taxes until the deficit was gone, we probably would be in good shape. But that probably isn't partisan enough.
/dev/null Posted January 21, 2010 Posted January 21, 2010 Didn't it get raised twice under the Bush administration as well too? And that isn't meant as the typical "Well the republicans did it." But did they do it twice in the span of a couple months?
Simon Posted January 21, 2010 Posted January 21, 2010 Didn't it get raised twice under the Bush administration as well too? Actually from what I've read it was raised 7 times during the 8 years of the Bush administration. But that doesn't count.
Magox Posted January 21, 2010 Posted January 21, 2010 Actually from what I've read it was raised 7 times during the 8 years of the Bush administration.But that doesn't count. Inexcusable, but since Bush did it, Obama has a free pass to spend more in year one than Bush did in his entire first term.. Got it
Adam Posted January 21, 2010 Posted January 21, 2010 But did they do it twice in the span of a couple months? I don't remember, but raising it is something you will see more of during each administration. Nobody really cares about the deficit, they just say they do. If they cared, they wouldn't get elected again
Simon Posted January 21, 2010 Posted January 21, 2010 Inexcusable, but since Bush did it, Obama has a free pass to spend more in year one than Bush did in his entire first term.. Got it Yeah, that's just what I said. Cheerleader.
Adam Posted January 21, 2010 Posted January 21, 2010 Yeah, that's just what I said.Cheerleader. Its stuff like "The Republicans did it too" and "The Democrats did it too" that keep the cycle going. Sometimes I think both sides conspire to make sure it continues and they remain in power. Pretty frustrating
/dev/null Posted January 21, 2010 Posted January 21, 2010 Inexcusable, but since Bush did it, Obama has a free pass to spend more in year one than Bush did in his entire first term.. Got it The only thing this administration does more than talk about the failed policies of previous administration, is follow the same failed policies as the previous administration Hope and Change Meet the new boss. Same as the old boss
Magox Posted January 21, 2010 Posted January 21, 2010 I don't remember, but raising it is something you will see more of during each administration. Nobody really cares about the deficit, they just say they do. If they cared, they wouldn't get elected again The Debt ceiling is going to rise every year regardless of what politicians do, we're pretty much screwed. We will have a $14 Trillion dollar national debt at the end of the year and most likely will be approaching $17 Trillion by the end of his term. Interest on our Debt will most likely be somewhere around 4%, that would equal close to $680 Billion a year just in interest payments alone. Last year I believe we payed around $275 Billion in interest rates, simply because treasury rates were at the lowest we have ever seen, but it has been rising and will continue to rise. The alarm bells are ringing, and believe it or not, the Obama administration is cognizant of the National debt, and it's possible implications, but they are risking this spending binge to try to stimulate the economy first and then get the fiscal house in order, and it's not just that, he doesn't appear to be able to reign in his liberal congress from spending even more. Peter Orzag and Obama both gave orders to the house to come up with three different plans for 2011, one that would have the average annual rate of increase in their spending bills, another that would be a freeze on spending (where they would spend the same as the previous year), and another that they would reduce spending by 5%. His liberal caucus scoffed at the spending and 5% reduction plans and basically told him that this would be unacceptable. I gaurantee you that the next administration that comes in will do everything in their power to reign in our defict, even though it will be nearly impossible.
Simon Posted January 21, 2010 Posted January 21, 2010 I gaurantee you that the next administration that comes in will do everything in their power to reign in our defict, even though it will be nearly impossible. What in the Sam Hill would make you believe that?
Magox Posted January 21, 2010 Posted January 21, 2010 Yeah, that's just what I said.Cheerleader. Yes, because LABillz said that "That doesn't account" hypocrite
Simon Posted January 21, 2010 Posted January 21, 2010 Yes, because LABillz said that "That doesn't account"hypocrite I was neither responding to nor referring to him. Take your pom-poms elsewhere Brittany.
Magox Posted January 21, 2010 Posted January 21, 2010 What in the Sam Hill would make you believe that? Because the alarm bells are beginning to ring. Awareness of the risks of our national debt are going to become much more pronounced in the not so distant future much more so than what we have ever seen. The National debt has been taken for granted for much too long because we havn't seen the downside of those risks. At some point over the next few years those risks will start becoming a stark reality that we will all see. It will look something like this: 1. Foreign creditors begin to shun financing our debt 2. U.S loses it's AAA rating 3. Dollar starts to fall precipitously 4. Chinese and other foreign creditors start blaming U.S for not keeping their fiscal house in order 5. Talks of emergency plan to replace the dollar with an alternate currency will begin to gain traction. 6. Inflation through the wazoooo 7. Unemployment through the roof
pBills Posted January 21, 2010 Posted January 21, 2010 Gotta get it in before Brown takes his seat. This should be well received. Run away....RUUUUUUUNNNNN AWAAAAAAYYYY!!! Bad DEMS, REPUPLICANS GOOOOOOODD!!!
DC Tom Posted January 21, 2010 Posted January 21, 2010 Actually from what I've read it was raised 7 times during the 8 years of the Bush administration. But that doesn't count. June 28, 2002 116 Stat. 734 Increased the debt limit to 6,400.0 May 27, 2003 117 Stat. 710 Increased the debt limit to 7,384.0 November 19, 2004 118 Stat. 2337 Increased the debt limit to 8,184.0 March 20, 2006 120 Stat. 289 Increased the debt limit to 8,965.0 September 29, 2007 121 Stat. 988 Increased the debt limit to 9,815.0 July 30, 2008 122 Stat. 2908 Increased the debt limit to 10,615.0 October 3, 2008 122 Stat. 3790 Increased the debt limit to 11,315.0 February 17, 2009 123 Stat. 366 Increased the debt limit to 12,104.0 Seven, a total of 4915 billion, in eight years. Under the Obama administration, including this newest one, about 2.8 trillion. In one year. Of course, the president doesn't raise the debt ceiling or legislate spending, Congress does. And the Democrat-controlled Congress has raised the debt ceiling - to the tune of about 5 trillion in the past four years (I won't calculate the increases by the Republican-controlled Congress before that, just because I'm too lazy to go back to the Clinton administration numbers). The historical debt ceiling info is at http://www.whitehouse.gov/omb/budget/fy201...ts/hist07z3.xls. One interesting thing to note in the data is the number of "temporary" increases of the ceiling. There's six in 1990 alone (a "temporary" increase on Aug 9 that was extended five times, until they apparently just said "!@#$ it" and permanently jacked up the ceiling by 900 billion). It's safe to say that, frightening as the current accelleration in borrowing is, fiscal irresponsibility long predates the Obama and Bush administrations.
Magox Posted January 21, 2010 Posted January 21, 2010 Run away....RUUUUUUUNNNNN AWAAAAAAYYYY!!! Bad DEMS, REPUPLICANS GOOOOOOODD!!! I don't mean this as a slight to you PBills, but do you ever have anything of substance to say? I've tried rationalizing with you, we are having a real discussion here regarding a real problem, other than Simons post, and the best you have to say is "Run away....RUUUUUUUNNNNN AWAAAAAAYYYY!!! Bad DEMS, REPUPLICANS GOOOOOOODD!!!"? Really, what are your thoughts regarding our national debt? Does that not concern you?
Adam Posted January 21, 2010 Posted January 21, 2010 I gaurantee you that the next administration that comes in will do everything in their power to reign in our defict, even though it will be nearly impossible. Dreamer, nothing but a dreamer.....now you put your head in your hands, oh no! I don't mean this as a slight to you PBills, but do you ever have anything of substance to say? I've tried rationalizing with you, we are having a real discussion here regarding a real problem, other than Simons post, and the best you have to say is "Run away....RUUUUUUUNNNNN AWAAAAAAYYYY!!! Bad DEMS, REPUPLICANS GOOOOOOODD!!!"? Really, what are your thoughts regarding our national debt? Does that not concern you? I think it really concerns almost everyone not in office or planning to run
DC Tom Posted January 21, 2010 Posted January 21, 2010 Really, what are your thoughts regarding our national debt? Does that not concern you? Not while the administration's lining the pockets of the AFL-CIO, it doesn't.
Magox Posted January 21, 2010 Posted January 21, 2010 Dreamer, nothing but a dreamer.....now you put your head in your hands, oh no! I guess you havn't been noticing the Tea Party Movement. Maybe you like many others laugh at them, call them teabaggers and ignore what their movement is about. There is an awakening going on right now and they carry more clout than what most people tend to believe. So you keep thinking what you think, and we'll see who's right. I think it really concerns almost everyone not in office or planning to run bull ****!
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