I thought Obama said

[Gsu95]

Re: I thought Obama said ...

it sure feels like we are in a recession now.

The way they say it, even with the lay-offs, it is technically is not a recession--I know a few jobs around my area that are laying off and i have been seeing other places on the web and news but the politicians say it is just a phasing out process that will pickup fairly soon, with the exception of the debt ceiling that may put us in deep boo-boo!

 

[pbla]

Re: I thought Obama said ...

Well if you listened to the news for the last week.it's obvious on why taxes need to be raise before Aug 2. The country could lose it's triple a credit rating,the dollar loses it's power,federal and social security finances ane workers will not be issued,and gas prices will skyrocket because the dollar will be weaker.

When gas prices increases, the purchase of retail and other goods will decrease. Gas prices is the first domino that determines on how economy goes up or down.

How gas prices affect the economy?

Well for workers who commute everyday to work,while gas prices remain this high,the monthly fuel bill for their cars is like a car note or house note. People will sacrifice buying all the luxury items in order to put gas in the car so that they can get to work. The majority of American's money is going to the oil companies rather than being shared with other businesses. It's like farming,when one side of the farm or garden get the most water,well the other half of the garden will DRY up. That's exactly what happened to the industries and retail stores in this country,they simply dried up because they did not get most of the "watering" of the Americans money because the oil companies got the majority of it. If prices were at .99 a gallon as they were in the mid-90's to late 90's,for a year,then we would see a reversal in the spiraling down of America's economy. You don't have to be an Alan Greenspan or Bernacke to figure this out.

 

[J C]

Re: I thought Obama said ...

If the U.S. defaults on its debt, Pell Grants and other government backs scholarships and loans would all go away? HBCUs in particular would not survive. Those who advocate this action are calling for the collapse of our whole economic system which would do the same for the global system. Note: the Chinese government asking the American politicians to raise the debt ceiling.

 

[Makaho 2.0]

Re: I thought Obama said ...

No excuses but the Repubs added a new caveat to the Senate rules after the 2008 elections. The requirement of having 60 votes instead of 51 to move any legislation out of the Senate is a tall order. This requirement had not existed before the election of Barack Obama.

Explain the House which had the "overwhelming" majority. The Republicans were pretty much self check, and couldn't block anything. The dems just sat on their damn hands in regards to the budget.

 

[J C]

Re: I thought Obama said ...

Explain the House which had the "overwhelming" majority. The Republicans were pretty much self check, and couldn't block anything. The dems just sat on their damn hands in regards to the budget.

Speaker Pelosi and the House passed budgets that the Senate could not bring up for a vote due to the new super majority rule.

 

[Kendrick]

Re: I thought Obama said ...

Why haven't these government leaders suggested cutting half of the Pentagon and defense budget? Why haven't they suggested bringing home troops from the 75 countries where our men and women are stationed to save money? We can put Social Security, Medicaid Medicare on the table, but not defense spending?

 

[J C]

Re: I thought Obama said ...

Why haven't these government leaders suggested cutting half of the Pentagon and defense budget? Why haven't they suggested bringing home troops from the 75 countries where our men and women are stationed to save money? We can put Social Security, Medicaid Medicare on the table, but not defense spending?

If you have been listening to the President and other bipartisan groups, they are making the argument "everything is on the table" . In DoD, only 1 vacancy is being filled for every 4 vacant positions. Major cuts in spending are expected in FY 2012, including a RIF.

 

[PVSAX99]

They better bring them troops home. We can't afford to keep them away from home as it is...and if the gov't defaults, how are those troops gonna get paid?

I think everybody (well most people) agrees that raising the debt ceiling is the logical thing to do. It's just that differing political ideologies and partisan interests are taking top interest, and they are using to state of economy to push their ideological agendas. Nothing will get done if everybody doesn't have their way.

The problem is that one of these parties has this uncompromising "My way or the highway" mentality, and they might rather watch the country fall under Obama's watch than compromise with the group across the aisle.

 

[PVSAX99]

Re: I thought Obama said ...

If the U.S. defaults on its debt, Pell Grants and other government backs scholarships and loans would all go away? HBCUs in particular would not survive. Those who advocate this action are calling for the collapse of our whole economic system which would do the same for the global system. Note: the Chinese government asking the American politicians to raise the debt ceiling.

Can you blame them? If we default, we can't pay them what we owe them. Not a very good look for us.

 

[Kendrick]

Re: I thought Obama said ...

What does raising the debt ceiling mean for the future? I mean, isn't this move just a stop-gap approach to what ails our economy?

 

[Kendrick]

Re: I thought Obama said ...

If you have been listening to the President and other bipartisan groups, they are making the argument "everything is on the table" . In DoD, only 1 vacancy is being filled for every 4 vacant positions. Major cuts in spending are expected in FY 2012, including a RIF.

I hope that claim is serious and the cuts are massive because in 2011 military spending has accounted for more than 58 percent of all federal discretionary spending and even more if the interest on the federal debt that is related to military spending were added. In the last ten years we have spent more than $7.6 trillion on military and homeland security according to the National Priorities Project.

Representative Paul Ryan’s much discussed Tea Party budget accepted Obama’s proposal for a pathetic $78 billion reduction in military spending over 5 years, a recommendation that would only modestly slow the rate of growth of military spending.

In 2009 the Government Accountability Office (GAO) found staggering cost overruns of almost $300 billion in nearly 70 percent of the Pentagon’s 96 major weapons. What’s more, the programs were running, on average, 21 months behind schedule. And when they were completed, they provided less than they promised.

We really don’t know how much the Pentagon wastes because, believe it or not, there hasn’t been a complete audit of the Pentagon in more than 15 years.

 

[J C]

Re: I thought Obama said ...

[/B]

Can you blame them? If we default, we can't pay them what we owe them. Not a very good look for us.

It's little deeper than that. We're only paying them interest on what we owe them. They realize if our economy collaspes they would lose their biggest market for their goods.

 

[J C]

They better bring them troops home. We can't afford to keep them away from home as it is...and if the gov't defaults, how are those troops gonna get paid?

I think everybody (well most people) agrees that raising the debt ceiling is the logical thing to do. It's just that differing political ideologies and partisan interests are taking top interest, and they are using to state of economy to push their ideological agendas. Nothing will get done if everybody doesn't have their way.

The problem is that one of these parties has this uncompromising "My way or the highway" mentality, and they might rather watch the country fall under Obama's watch than compromise with the group across the aisle.

The President is working hard to get us out of Afghanistan. He wants to hand the unsolvable problem over to Paskistan but they are too unstable. You got to remember it was the Paskitanis Intelligence service that establish the Taliban in an attempt to stablelize Afghanistan. We may have to do what the Bristish and Russians did . They turn tail and ran out of the poor backward clannish country.

 

[coldsweat]

Re: I thought Obama said ...

The $600 billion deficit Bush was running plus the $200 billion of TARP money that can’t be repaid (mainly AIG and Fannie Mae and Freddie Mac). That totals $800 billion. That was the real deficit Obama inherited. Then … he added $300 billion in his stimulus package, bringing the deficit to $1.1 trillion. This $300 billion was, of course, totally qualitatively different from the TARP money in that it was spending, not lending. It will never be paid back. Once it was out the door, it was gone. Other spending and falling revenues due to the recession pushed the final numbers for Obama’s 2009 deficit up to $1.6 trillion and we are steadily adding to it. We are currently borrowing $58,000 a second! If that aint steroid injected my friend I don't know what is. But hey all this is still Bush's fault, I mean he is STILL president, right. And you guys still want to say raising the debt ceiling is the answer, by that logic I guess we can cure AIDS by having more unprotected sex with infected partners.

I think increased taxes is the best answer and the philosophy that no one really wants to admit! I mean, the political hero for these conservatives is Mr. Reagan, who did slash taxes his first year as president. What the Eric Cantors of the world don’t know or ignore is that in 1982 — in the midst of what was then the worst economic downturn since the Great Depression — Mr. Reagan approved the largest peacetime tax increase in history. On Sept. 3, 1982, the day he signed the tax increase, the jobless rate was 10.1 percent.

I wish these politicians would just admit that cutting spending alone CAN NOT get us out this mess. It has to be a balanced approached! :nod:

 

[GSU4LIFE]

Re: I thought Obama said ...

I think increased taxes is the best answer and the philosophy that no one really wants to admit! I mean, the political hero for these conservatives is Mr. Reagan, who did slash taxes his first year as president. What the Eric Cantors of the world don’t know or ignore is that in 1982 — in the midst of what was then the worst economic downturn since the Great Depression — Mr. Reagan approved the largest peacetime tax increase in history. On Sept. 3, 1982, the day he signed the tax increase, the jobless rate was 10.1 percent.

I wish these politicians would just admit that cutting spending alone CAN NOT get us out this mess. It has to be a balanced approached! :nod:

Thank you coldsweat i've been saying that the whole time.