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Senate Votes to Raise Debt Limit
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WhipperSnapper
Lifer
Budgets? We don't need no stinkin' budgets! Reality? Reality is that we need to spend the money right now!!! And it's...yes it's time for another tax cut for the upper classes! Hey, if our federal government needs more money we'll just turn on the printing presses!!! We have money machines here in Washington!!!
You ninnies talking about economics and budgets have no faith! STFU guys, gobble Prozac, and hand me that national credit card! Cha-ching!
You ninnies talking about economics and budgets have no faith! STFU guys, gobble Prozac, and hand me that national credit card! Cha-ching!
Todd33
Diamond Member
I'm not spinning anything, all politicians spend but you seem to jump into every thread that lays any responsibility on the Republicans and blame those who had no hand in it. The Dem's can't pass bills or write the budget, in fact they have voted against things like raising the debt limit and the Medicare Prescription Drug Act, so stop blaming those who are trying to help and get mad at those who are causing the problems. You major in Poly Sci and the best you can do is be a blind partisan? Forget the party and think about your country.
Edit: Dem's can't pass bills, not can
FelixDeCat
Lifer
This is just so wong headed. Lets stay focused. Address my original and brilliant response posted above.
m2
Todd33
Diamond Member
Yes, after you got called out for spinning you tamely said they were responsible, but you started in the thread by repeating it's not a GOP thing. So instead of getting mad at the people who caused the problem you deflected it over to the Dem's, which is a very common ploy these days. No matter how much bungling Bush and the GOP Congress do the talk always goes back to what the Democrats are doing or did wrong. WTF people, live in the here and now and ignore the minority party that has no power. We are dealing with a single party in DC lets start acknowledging it.
I honestly don't care which party spends like mad and has to raise the debt limit, it still pisses me off. I don't want either party to spend on stuff that isn't necessary or isn't an investment, that include Iraq, interest payments, bridges in Alaska, etc.
Yea you got called out for spinning, but spin all you want, entitlement spending is out of control, I watched yesterday both Dems and Repubs throwing in pork barrel into the 2007 budget (you got an answer for that), trying to make this out to be a one party issue is what you are saying, no, far from the truth of Washington. If you believe the Dems haven't had a hand in the national budget in the last 6 years you must be nuts, a crock of bs at best, many of there pet projects have got by just as well.
You wonder why the Dems will not support cutting such as this;
Cheney Breaks Tie as Senate Backs Deficit Cuts
Oh this the party that cuts on entitlements, eh, please. The one chance they had to cut Medicare and Medicaid last year, did it happen, no way, there not going to touch those programs with a ten foot pole.
Engineer
Elite Member
The Democrats are "tax and spend".
The Republicans are "Cut tax and spend more"
As I said, don't worry...we'll print more.
Nobody will touch SS as it's a surplus machine right now.
Nobody will touch Medicare as too many old people vote.
Just print more.....and hope the world doesn't break it's oil away from the US dollar. Simple as that.
The Republicans are "Cut tax and spend more"
As I said, don't worry...we'll print more.
Nobody will touch SS as it's a surplus machine right now.
Nobody will touch Medicare as too many old people vote.
Just print more.....and hope the world doesn't break it's oil away from the US dollar. Simple as that.
Engineer
Elite Member
No, but that's what is happening. We're giving deflating dollars (because of the massive borrowing and "printing" of them) to the rest of the world for goods/services. Unless oil breaks away from the dollar any time soon, it will continue. Might have to ratchet up interest rates to control the resulting inflation though.
FelixDeCat
Lifer
Printing money is devaluing the currency and effectively defaulting. This means that bread will cost $50,000 a loaf. Printing more money and devaluing the currency is what uniformed and ignorant noobs put forth as an answer b/c they want Uncle Sugar to feed them one day.
Sheik Yerbouti
Lifer
Why target social security? Why not repeal the tax cuts for the rich lot? Or increase the price of cigarettes by 2.00 a pack and put that towards the debt? No need to hurt the retired folks source of income or eliminate the older boomers.
Of course the rich lot don't rely on ss, so that's an easy target.
Of course the rich lot don't rely on ss, so that's an easy target.
FelixDeCat
Lifer
You dont know what your talking about. You shouldve studied economics and engineering. And if you did, you didnt pay attention.
Issuing debt is not "printing money" because each note issued is backed up by our promise to pay. America has never defaulted, but we did "print money" back in the late 70s without issuing debt to back it up (thank you Jimmy Carter) which eventually caused a 20% PRIME RATE!
If we start "printing money" without issuing debt to back it up, expect us to see hyper inflation and a prime rate comparable to some banana republics of 50 to 100%!
Its possible to avoid this calamity by phasing out SS with private accounts IMO.
Engineer
Elite Member
Seems like I stated above (in your quote) that it was due to "borrowing and printing". Also, IIRC, the Federal Reserve prints 10 bucks for every dollar borrowed. I could be wrong but I read the article on P&N last year as to the reasoning behind it. Maybe someone could dig up that article and post it here.
P.S. the "you don't know what you're talking about" is reference in my above statement. Thanks for being a smart@ss!
Phase out SS with private accounts. That may take care of the future generations and I have no problem with it. However, how do you fund the baby boomers currently in the system? Borrow trillions upon trillions? Oh, why not. That's what this thread is about anyway! 😀
FelixDeCat
Lifer
Just admit it - I own you. 😉
Anyway, we may have to raise taxes to bring the budget back into balance with regard to the impending retirement boom. They are going to at least sacrfice COLAs (0% or sub 1% growth) so we can absorb their shock to our system. It may be easier for them to swallow because surely they dont want all their existing stock and bond assets to be worthless or ravaged by a 20% inflation rate vs the 2-3% we have now.:thumbsup:
theeedude
Lifer
There is no other choice than to restore cheks and balances in Washington. It's clear that the GOP Congress will not check and balance the GOP President, or the other way around. He hasn't vetoed a single bill in 5 years. Now, if you think that's because every single bill that Congress has sent him has been good for this country and undeserving of a veto, you are entitled to that opinion, but most people would disagree.
As far as the arguement that Democrats aren't any better, I don't agree, but even if they were, the Founders never intended for the individual parties to be good or perfect in any way, but they designed the system in such a way that one branch full of flawed politicians would check and balance the other branch full of flawed politicians, so that the result of this balancing would be that what managed to become law would be better than if any individual branch were solely responsible for writing the laws. Both Democrats and Republicans have good ideas and bad ideas, but they have a lot fewer shared bad ideas, so much fewer bad ideas end up both passed by the congress and signed into law. But for that to work, Congress can not be in cahouts with the President. Also, if President and Congress are from the same party, it's in his interest to sign their bills because it helps his own party bring home the bacon. If Democrats were sending him the same bills, what would be his incentive to sign them? To help the Democrats? So even if the content of the bills was identical, the incentives would be totally different. I sincerely doubt that Bush would sign onto the Medicare drug benefit if it was the Democratic congress sending it to him.
As far as the arguement that Democrats aren't any better, I don't agree, but even if they were, the Founders never intended for the individual parties to be good or perfect in any way, but they designed the system in such a way that one branch full of flawed politicians would check and balance the other branch full of flawed politicians, so that the result of this balancing would be that what managed to become law would be better than if any individual branch were solely responsible for writing the laws. Both Democrats and Republicans have good ideas and bad ideas, but they have a lot fewer shared bad ideas, so much fewer bad ideas end up both passed by the congress and signed into law. But for that to work, Congress can not be in cahouts with the President. Also, if President and Congress are from the same party, it's in his interest to sign their bills because it helps his own party bring home the bacon. If Democrats were sending him the same bills, what would be his incentive to sign them? To help the Democrats? So even if the content of the bills was identical, the incentives would be totally different. I sincerely doubt that Bush would sign onto the Medicare drug benefit if it was the Democratic congress sending it to him.
homercles337
Diamond Member
You have got to be kidding me! The US is in a negative savings cycle, personal debt (credit cards and student loans) is huge (retraining because of off shoring--remember that?), and youre angry with these people for not having a savings account for retirement? :disgust:
DotheDamnTHing
Platinum Member
Go Canada!!
FelixDeCat
Lifer
d/p
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