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Obama Should Raise the Debt Ceiling on His Own. Give Bohner something to really cry about.
http://nytimes.com/2011/07/22/opinion/22posner.html?_r=2&hp
If the rookie teabaggers in Congress choose the nuclear option by not raising the debt ceiling to pay the bills, Obama should raise it on his own.
He should also arrest Bohner for terrorism in attempted disruption of the financial markets.
#1 financial terrorism? That’s reaching…
#2 Really? Bombing the NYSE building has lessor financial markets ramification and it’s considered terrorism. -> and not for the explosion part.
Eating at Fraunces Tavern or the Nebraska Steak House and then walking over to the New York Stock Exchange and farting could be considered an act of terrorism. (The rented cops down there [literally NYPD officers dragging in mucho buck$ in over-time,] are really scary when you consider how inept lousy shots they are and how easily spooked they are. [We have had several people shot dozens of times and killed {usually} for the crime of being black on moonless night.])
I’m sure that all this indecision has already caused the consumption of antacid to triple in the investment community.
Paying decent rates on your savings account means that Wall Street gets nada to pretend to be making money for their usual jerking-off while racking up their astronomical fees.
Even Apple’s billions wouldn’t be an embarrassment to keep in a bunch of bank accounts if they were earning more than squat all.
#3, The nation is not going to default unless the President wants it to. What will happen is we will pay our bills to our creditors and then cut programs that are a drain on the nation’s coffers.
I’m glad the bill failed. It did nothing to reduce the debt or the deficit.
You can’t continue to live on borrowed money. If you think about it, the ones making the biggest stink are the ones who get the first shot at the borrowed money . . . the Wall St. Banksters. By the time the money gets into circulation, it has been depreciated and not worth as much as when it was first loaned to them. They get that much richer by the amount of the depreciation. And we get poorer by the same amount.
I would think, as someone who constantly complains about the rich getting richer, you would be all for keeping the money out of their hands.
Tell us, what benefit will YOU receive from an increased debt ceiling?
July 25 – Mark it down. The day Dallas finally overtook Bobbo’s position in the war of the crazies.
It is obvious the caving of the Democrats on their “Spend More and Spend it Now” demands has had quite an impact on Dallas and his ilk.
http://goo.gl/ZNVxp
#5 …Tell us, what benefit will YOU receive from an increased debt ceiling?
Lots. On the plus side, financial Armageddon will expose politicians as incompetent to the sheeple. The good old boy networks crumble and possibly the teabaggers get lynched.
On the down side, interest rates rise, housing market double collapses, housing sales stall, your financial assets drop massively,a world financial crisis because the dollar is the basis of world economies, ratings agencies downgrade US debt, credit drys up wreaking havoc on businesses and you get laid off from Kroger.
I think I’d like the debt ceiling lifted, pay our bills and then you and the teabaggers can work the communist president on lowering the deficit but first things’ first.
@ msbpodcast,Dallas
If I had money in the USA market do you think I
am safe. We have money in banks also, and my wife believes we can get it out if needed. Ha. What to do. I’m concerned of a run at the markets with all the FUD. In a million years I never thought the talk of trillions of dollars day after day would be in the news. No less huge bailouts and government ownership of GM and banks. But the market keeps going up. Get out now?
#7, financial Armageddon
BWAHAHAHAHAHA! (laughing so hard that I have to wipe tears from my eyes).
You’ve been listening to Wall St. too much.
ratings agencies downgrade US debt
Ah, the “I love to be in debt” score. Seriously, it won’t happen unless the Prez decides not to pay our bills.
credit drys up wreaking havoc on businesses
Only those businesses that operate on borrowed money — the ones who are probably on shaky ground anyway.
If we pay down our debt, we’ll then have money to loan again. It’s a limit, not a permission slip to keep spending money.
I think I’d like the debt ceiling lifted,
Then why were you against it in 2006?
pay our bills
We have enough to pay our bills. We don’t have enough to keep funding special interests.
#6, $2.7T over ten years. That’s only $270B per year. We are still $1.3T short for this year.
Another “no difference” suggestion.
Regarding my post #8,
I feel odd after the fact asking “financial advise” on a Blog’s comment page. I am stymied by the markets reaction to this debacle so far. Just need some different viewpoints.
#11, The dollar is going down the drain. Inflation has eaten away most of everyone’s savings.
Dollars are worth more when there are fewer of them.
They are worth less if there is more of them.
By increasing the debt ceiling, you are making your dollars worth less. You might see them appear to increase in value as your mutual funds and the like increase in dollar figures, but any gains are eaten by the drop in their value.
To answer your question, they are as safe here as anywhere. Whether the debt ceiling is raised or not, it affects the currencies worldwide. The question you have to ask yourself is so you want to see high volume or high value?
#9 Only those businesses that operate on borrowed money — the ones who are probably on shaky ground anyway.
This comment alone solidifies you have no common business sense much less have a worthy opinion on a topic as complex as the debt ceiling.
Note to self: File under buffoon comments from Dvorak.org
#13, Again . . . BWAHAHAHAHAHA!
I’ve been running my own multi-million dollar company for years now and have never had to take out a loan to pay the bills. Cash flow only.
If a “buffoon” like me understands how to run a business, the big boys do, too.
#13, BTW . . . you never did answer this:
Then why were you against it in 2006?
#14 Credit is the life blood of any business, small or large.
#15 WTF are you talking about?
LibertyLover,
So the dollar’s worth is compared to how many are available to the public or the Feds continuous injection of digital dollars? It appears we are a
Banana Republic since 1971 with Nixon’s Shock.
I have no experience in economy but a vested interest in the dollar. If the dollar is now below 80 in in the dollar index mark our dollars are what, over valued? Euro’s are down, gold is obscene. Where is value. Food, property and water?
Years ago I saw a Dutch program with the dollar failing. It’s called “The day the dollar falls”.
To me it appears this already happened somewhat and instead of 24 hours the dollar is falling slower. What to do. Stuff the mattress with dollars or rice. Gold is useless to consider, you can’t eat it or reliably buy something your neighbor is selling. Felling dazed and confused.
http://jurmo.us/2007/07/23/the-day-the-dollar-falls/
#16, Lifeblood
You are full more shit than a Christmas Goose.
WTF[…]
I don’t recall you preaching to raise it when Senator Obama was screaming to not raise it.
#17, We aren’t a BR yet but we’re headed that way.
Where is value.
Skills.
Worth repeating
O B A M A
One
Big
Ass
Mistake
America!
@ Ah_Yea,
Agreed, Obama is in over his head but you believe McCain wouldn’t be. Obama is a liar(you can take that to the bank) and my alternate universe machine is in the shop for repairs.
“The Speaker, Sen. Reid and Sen. McConnell all agreed on the general framework of a two-part plan. A short-term increase (with cuts greater than the increase), combined with a committee to find long-term savings before the rest of the increase would be considered. Sen. Reid took the bipartisan plan to the White House and the President said no.”
What was in the proposal? Your link mentions nothing concrete except more cuts, what were the cuts? Though you/we may not like it Obama is the decider.
#14 I’ve been running my own multi-million dollar company for years … Cash flow only
Did own Park Place and Boardwalk or just Boardwalk?
@ Ah_Yea #21 said,
“HAR, WHAT A LYING PRESIDENT!
Looks like someone agrees with me.
Is Obama a pathological liar?”
Name me a politician who doesn’t lie. When ever their mouths open out come what he/she thinks their constituents want to hear. Lies lies lies.
We are in two unfunded and private contract driven wars. Obama is Bush 2.1, that’s all.
Sometimes I wonder if Obama was elected just so a… can be blamed for this over spending.
Just saying. He didn’t start these wars.
#24, A fool’s answer to logic. Sarcasm.
You lose.
#24, You know, my company is only a few miles North on 35E from Dallas.
If you want, I’ll give you a tour and let you explain to my engineers why you think they should pay more in taxes.
Come on. Don’t hide behind the keyboard. Come on up!
#27 No thanks. I’m not interested in meeting you. I run a 1.1Billion business for a large company right on the Tollway and Beltline and my engineers are not interested in meeting you either.
#28, Yeah, I didn’t think you had the balls.
Yea, Dallas runs a billion dollar company yet still has time to say stupid stuff on a blog.
Yea, I believe.
Ok, jpfitz, now to answer your question.
“Founded in 1984 by the late industrialist J. Peter Grace and syndicated columnist Jack Anderson, CAGW is the follow-on organization to President Ronald Reagan’s Private Sector Survey on Cost Control, also known as the Grace Commission. In 1982, President Reagan directed the Grace Commission to “work like tireless bloodhounds to root out government inefficiency and waste of tax dollars.” For two years, 161 corporate executives and community leaders led an army of 2,000 volunteers on a waste hunt throughout the federal government. Funded entirely by voluntary contributions of $76 million from the private sector, the search cost taxpayers nothing. The Grace Commission made 2,478 recommendations which, if implemented, would save $424.4 billion over three years, an average of $141.5 billion a year – all without eliminating essential services. The 47 volumes and 21,000 pages of the Grace Commission Report constitute a vision of an efficient, well-managed government that is accountable to taxpayers. CAGW has worked to make that vision a reality and, in 17 years, has helped save taxpayers $687 billion through the implementation of Grace Commission findings and other recommendations.”
http://uhuh.com/taxstuff/gracecom.htm
#29 I really see no point in revealing myself to a group or Fox sheep and likely subset of Christian Taliban ready to set my house on fire.
I’ve already had my car keyed for having an Obama sticker and that was the day AFTER the elections.
How about you ask your tax burdened engineers if they think taxes are at the lowest point in 60 years and come back with their answer. If most come back with the right answer, I’ll reconsider.