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2nd Term, Part VI: Burnin' down the House

  • Thread starter Thread starter Priceless
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Re: 2nd Term, Part VI: Burnin' down the House

OK. Name calling over. libtards, dicks, whatever. If we can't play nice board is going to come in and nuke the thread.
 
Re: 2nd Term, Part VI: Burnin' down the House

walrus said:
Continuing to spend money we don't have. Now they have help, after 14 it will all be on them
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I'm an economics idiot, I confess, but explain. The national deficit as a percentage of GDP went up dramatically under Reagan. Under Bush I, it continued to rise. Clinton left with a surplus, and Bush II left the country with a skyrocketing debt, partly as a result of a policy mistake in Iraq and also as a result of the worst domestic economy since the 30s. Under Obama, the numbers are high but better than what Bush II left.

It is probably obvious I'm not sandbagging when I say I'm an economics idiot, and I know charts and numbers can be spun just like anything else. But what is the best evidence that democratic policies have been bad for the country's economy?
 
Re: 2nd Term, Part VI: Burnin' down the House

The deal is still alive:
NBC's Kelly O'Donnell reports Senate deal in the works: would fund govt thru Jan 15, extend debt ceiling by 4 months
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Re: 2nd Term, Part VI: Burnin' down the House

burd said:
I'm an economics idiot, I confess, but explain. The national deficit as a percentage of GDP went up dramatically under Reagan. Under Bush I, it continued to rise. Clinton left with a surplus, and Bush II left the country with a skyrocketing debt, partly as a result of a policy mistake in Iraq and also as a result of the worst domestic economy since the 30s. Under Obama, the numbers are high but better than what Bush II left.

It is probably obvious I'm not sandbagging when I say I'm an economics idiot, and I know charts and numbers can be spun just like anything else. But what is the best evidence that democratic policies have been bad for the country's economy?
Click to expand...

The Bush II economy was worse than Carter's? Really? Double digit unemployment. Double digit inflation. The debt represents accumulated deficits. They are related, but not the same. Your analysis seems to confuse the two.
 
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Re: 2nd Term, Part VI: Burnin' down the House

ScoobyDoo said:
Don't worry. The Boner is still employed. That's all that matters.
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If he blocks the vote tomorrow, he might not be.

Slate's updated blog

A Republican source told The Huffington Post that changes to Obamacare's tax on medical devices will not be in the final debt ceiling/CR deal being constructed by the Senate. But there will be a pledge, however informal, to consider that issue when the two sides reprise this debate when the next continuing resolution to fund the government expires on Jan. 15, 2014. "The package does not include a delay or repeal of the medical device tax, but some assurance would be given by both sides that the issue will remain on the table for Round 2 of negotiations," the source said.
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4 p.m.: Wall Street Believes, via Reuters:

U.S. stocks ended a volatile session with slight gains on Monday as investors bet that there would soon be a deal in Washington to increase the debt limit, though there were no obvious signs of progress. The Dow Jones industrial average was up 63.90 points, or 0.42 percent, at 15,301.01. The Standard & Poor's 500 Index was up 7.03 points, or 0.41 percent, at 1,710.23. The Nasdaq Composite Index was up 23.40 points, or 0.62 percent, at 3,815.28.
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Re: 2nd Term, Part VI: Burnin' down the House

burd said:
I'm an economics idiot, I confess, but explain. The national deficit as a percentage of GDP went up dramatically under Reagan. Under Bush I, it continued to rise. Clinton left with a surplus, and Bush II left the country with a skyrocketing debt, partly as a result of a policy mistake in Iraq and also as a result of the worst domestic economy since the 30s. Under Obama, the numbers are high but better than what Bush II left.

It is probably obvious I'm not sandbagging when I say I'm an economics idiot, and I know charts and numbers can be spun just like anything else. But what is the best evidence that democratic policies have been bad for the country's economy?
Click to expand...

It was all comparative small potatoes before Obama went nuts with the "Super Stimulus Spendathon Games." I forget the exact figure, but Obama directly owns between 25-30% of the total U.S. national debt, accumulated since forever. We used to pretend to keep up with the interest, at least.
 
Re: 2nd Term, Part VI: Burnin' down the House

China starting to make some noise.

WASHINGTON — Five years after the U.S. financial crisis helped cause a deep global recession, foreign leaders are worried that history is going to repeat itself.

The fiscal impasse that has partially shut the federal government now threatens to trigger a U.S. default that would roil financial markets worldwide, leading an agitated China to suggest replacing the dollar as the international reserve currency.

"As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world," China's official state-run news agency, Xinhua, said in an English-language commentary Sunday.

There is no viable alternative to the dollar as the centerpiece of the global financial system, and there probably won't be for the foreseeable future, experts said.

But Washington's debt limit standoff — coming on the heels of similar brinkmanship in 2011 — could accelerate efforts to find an alternative.
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I bet China has an idea....

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As far as this budget deal, I have a friend who works on Capitol Hill and he says we should know by Noon whether this deal is for real or not. Keep your fingers crossed.
 
Re: 2nd Term, Part VI: Burnin' down the House

geezer said:
It was all comparative small potatoes before Obama went nuts with the "Super Stimulus Spendathon Games." I forget the exact figure, but Obama directly owns between 25-30% of the total U.S. national debt, accumulated since forever. We used to pretend to keep up with the interest, at least.
Click to expand...

The first huge stimulus package was Bush II's though, wasn't it? But is that the thinking--that it's not so much democratic economic policies as it is this particular president's decisions on how to avoid the economic meltdown?
 
Re: 2nd Term, Part VI: Burnin' down the House

geezer said:
It was all comparative small potatoes before Obama went nuts with the "Super Stimulus Spendathon Games." I forget the exact figure, but Obama directly owns between 25-30% of the total U.S. national debt, accumulated since forever. We used to pretend to keep up with the interest, at least.
Click to expand...
So, you don't remember the near Depression collapse in '08? You don't remember how without that spending the economy would have completely gone in the tank?

It's no wonder we never get anywhere in this country.

Hearing this morning that there is no way in hell the House will support the Senate Bill. In fact Cruz may block the Senate Bill.
 
ScoobyDoo said:
So, you don't remember the near Depression collapse in '08? You don't remember how without that spending the economy would have completely gone in the tank?

It's no wonder we never get anywhere in this country.

Hearing this morning that there is no way in hell the House will support the Senate Bill. In fact Cruz may block the Senate Bill.
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Dems had their chance to change the filibuster rules and as usual, they blinked instead of leading.
 
Re: 2nd Term, Part VI: Burnin' down the House

The House Rs are about to hold a press conference to agree to this deal but with their own stipulations. We will see what these demands are....
 
Re: 2nd Term, Part VI: Burnin' down the House

So what's better, watching the national GOP undergo a civil war, or watching Opie have a meltdown right here on the USCHO!

Right now I'm leaning towards the Opie meltdown. I just feel bad for whoever's shift it was on his ward last night. :D
 
Priceless said:
The House Rs are about to hold a press conference to agree to this deal but with their own stipulations. We will see what these demands are....
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Last I looked was 2 year repeal of medical device tax and the Vitter (Congress fully subject to PPACA) Amendment.

However, if the Vitter Amendment passes, cynical me wonders if Congress will immediately cut their pay to $30,000 / yr and then grant each member a tax free per diem allowance for each day they are in Washington.
 
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Re: 2nd Term, Part VI: Burnin' down the House

joecct said:
Last I looked was 2 year repeal of medical device tax and the Vitter (Congress fully subject to PPACA) Amendment.

However, if the Vitter Amendment passes, cynical me wonders if Congress will immediately cut their pay to $30,000 / yr and then grant each member a tax free per diem allowance for each day they are in Washington.
Click to expand...

Oh, is that what Cruz told them to do at dinner last night? Cause they can't think for themselves.
 
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