[IMG]http://papundits.files.wordpress.com/2009/03/debt-star2.jpg[/IMG] [QUOTE] [B]AMERICA is 13 business days from an unprecedented default on its national debt that could tip the country back into recession and set off a new financial crisis if not averted with increased borrowing, President Obama believes.

			 				[/B] 			 		 		Backed by Wall Street but facing deadlock in Washington, a visibly  angry Mr Obama walked out of a fourth day of debt crisis talks this week  after saying he would risk his presidency rather than accept Republican  demands.  

[/QUOTE]

[url]http://www.theaustralian.com.au/news/world/us-13-days-from-financial-disaster/story-e6frg6so-1226095186195[/url]

[QUOTE]Ratcheting higher the pressure on Washington to strike a deal, Standard & Poor's for the first time said there was a 50% chance it would downgrade its rating of long-term U.S. debt within three months because the chances of default were "increasing" and the political debate about deficit reduction and the debt ceiling had "only become more entangled." The U.S. has had a AAA bond-rating from S&P for 70 years.[/QUOTE]

[url]http://online.wsj.com/article/SB10001424052702304911104576445731595487202.html?mod=WSJAsia_hpp_LEFTTopStories[/url]

I love the AAA bullshit everyone is concerned about. Means jack shit.

So any thought's American MS'ers?

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The Republicans are going to drag this out to the wire and say they were trying their best against the Democrats...whatever they do they seem like they'd rather see the country go into default so they can see Obama fail than anything else. The whole mess is fucking retarded. Everyone needs to quit being bitches and give shit up. Everyone in the country is going to have to pay up if this is ever going to subside.

Yes taxes need to be raised to pay for this, yes gov't spending needs on bullshit needs to be cut. If these idiots can't get anything done it would be great to shitcan them all.

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I hate to put it like this because of recent events on here but the Republicans are most assuredly trolling the American people and the Obama admin.

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:lol:

yeah they will go down to the wire and say that Obama wouldn't compromise at all, it is all about making him fail at whatever cost. If really it comes to that and the US gets into the shit, then it just shows how totally screwed up Washington is...and it's never going to change honestly...

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maybe something like this needs to happen... fuck our govt. i'm sick of both parties.

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^i'd say the same, but it will prob just be everyone who is fucked by the downturn of the economy, and those idiots will keep on doing what they are doing. nothing...

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^i'd say the same, but it will prob just be everyone who is fucked by the downturn of the economy, and those idiots will keep on doing what they are doing. nothing...

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This sounds like an official Obama scare campaign?

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eh? uh this is is a real problem for everyone...

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Governments. The problem of every solution.

Would like to know how much they're going to raise the taxes up by.

Re: US '13 days from financial disaster'

To me it is ludicrous that we can push for cuts in medicare and social security, while the richest 2% continue to receive their tax breaks. Anyone that supports the old and sick to pay for the problems that business created is morally bankrupt. Government is the problem insofar as they allow the wealthy to line their pockets at the middle-class expense. The only recourse to business doing these things is government. I agree that there needs to be less wasteful spending in Washington, but know that wasteful spending is not a product of short-sightedness or stupidity. [I]It is a sign of corruption in your government. When business interests inflitrate your goverment it is always corruption to a greater or lesser degree. This is the most glaring conflict of interest to any politician that claims to serve the country. There needs to be a seperation between business and governemnt much like church and state. I wonder how people feel knowing that the gap between the classes is wider than its been since.....um 1929. Record unemployment, record profit margins, think there might be a connection? While the democrats hands are by no means clean, the republicans have revealed themselves as the advocates for big business. Throughout the entire debt talks the republicans have not shyed away from making the middle-class and poor as well as the sick and elderly from being entirely responsible to clean-up this economic mess while defending the richest in this country from paying the taxes that they are SUPPOSED to? This should be tantamount to political suicide imo, but the american public has been sold that gov. is the problem(once again, insofar as they have allowed business to create the mess they have, through corruption) Guess what republicans? If you're rich and support this party, you are morally (not finacially) bankrupt, if you're not rich, you've been duped. You are accepting responsibilty for their mistakes. You pay while they profit, but thats ok cause u can still pick on the blacks and mexicans. When presentation wins over content, you get exactly the politicians you deserve.[/I]

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According to Mitch McConnell, the number one priority for the republican party is making sure Obama does not get a 2nd term.. Obamas second term rests entirely on the progress he makes with the economy. Connect the dots. The success of the republicans is the failure of our economy. Plus their constituents get richer in the mean-time. Win-win.

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^yup

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Hi, Res0nator.

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wuttup

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Making any progress with the US gov't is a fucking mission.

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Mission: Impossible IMO :(

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Wow, so under an administration that will have spent more than all previous Presidents combined by the end of the first (and hopefully last) term, the [URL="http://www.mercuryserver.com/forums/djdb.php?id=969"]blame[/URL] is somehow squarely in the Republicans' court. Typical but not surprising from (some of) the group here. And pay no attention to the trillion-dollar budget-busting so-called healthcare "reform" passed last year by the guy you believe wants to save the economy, which has done nothing to reign in prices and will finish off cash-strapped states already flirting with bankruptcy thanks to the massive number of new Medicaid enrollees. Are you even aware that HCR as it is written requires cuts be made to Medicare? Where's the outrage?

And Stephen, at which percentage of total taxes paid (currently at [URL="http://politisite.com/2011/07/03/guess-who-really-pays-the-taxes"]>50%[/URL]) will you be satisfied that the rich have been milked enough? Generally, they have the resources to evade sinking ships...the rest of us, not so much.

[IMG]http://politisite.com/wp-content/uploads/2011/07/Guess-Who-Really-Pays-the-Taxes.jpg[/IMG]

Nevermind, we're doomed already. Class warfare and eat the rich mantras will lead this country to an even darker place than it already is. I don't disagree with tax loophole and subsidy elimination, for the record.

Even on the surface, with a giant like GE who seemingly got away without paying taxes during the last period, peer deeper into their financials and one can see their consumer finance division took a massive beating. All the more reason tax code simplification should also be a major aim, even if that's a flat tax, elimination of exemptions, etc.

I also love how you're slamming Repubs and their rich buddies yet ignoring an important part of the article quoted above:

[quote]Backed by Wall Street but facing deadlock in Washington[/quote]

Come on, dude, "backed by Wall Street" (the very consortium of fools who were in part responsible for the crash of 2008). To think either party is free from the sphere of influence of big business is giving in to propaganda.

Finally, I didn't even mention how 0bama, knowing the fragility of the economy, unilaterally decided we should be involved in "kinetic nonhostile military action" in Libya, a country who didn't even so much as verbally threaten the US. A spineless Republican't party merely gave a verbal rebuke, while we continue to throw borrowed IOUs down a snake pit.

The blame Republican routine from you lefties is getting tiresome...it's a shared disaster now, and only the authentic Tea Party types (and Ron Paul) seem to understand what must be done to salvage the wreckage, and that's not to become even greater slaves to debt. This is what 0bama's plans amount to, so in a sense, Mitch is correct about defeating our dictator-lite.

And really, picking "on the blacks and Mexicans." Which party keeps the former subservient by encouraging them to stay in the welfare state, and which party claims the loudest race baiters (Sheilah Jackson, Jesse Jackson, Al Sharpton to name but three)? On the second ethnicity you referenced, you are forgetting that a large majority of AMERICANS (both Dems and Repubs) are fed up with the illegal immigration problem in this country and are opposed to defacto amnesty.

I don't know why I bother.

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Thanks, Vinnie. I really do appreciate a well thought out opposing view. There is plenty in your above comment I agree with.

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Well said Vinnie. But are you willing for a term of Republicans come next ballots? I read somewhere that within the next 50 or so years 1 in every 4 Americans will be of a Hispanic background. That's pretty astonishing.

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Obama is so stupid using his ''default'' scare tactic to try to get the debt ceiling raised. He needs to cut spending not raise the debt limit.

Geesh the leadership in the US is so stupid it hurts me. "Let's get out of debt by going deeper in debt'' Obama

Ya

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For the record, these debt ceiling talks are political theatre. There is no question that the ceiling will be raised.

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Sorry, Stephen, if I came on a little strong. I was fuming a bit after the piling on (what got me started being Florida and his "trolling" remark, I guess that means 0bama was trolling when he said he couldn't guarantee Social Security benefits next month). We are nearly to the point where interest on current debt exceeds GDP, if we're not there already. It's political theater, alright, but it's at the expense of a dire situation.

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[url]http://www.wtfnoway.com/[/url]

Re: US '13 days from financial disaster'

[QUOTE=vinnie97;975207]Sorry, Stephen, if I came on a little strong. I was fuming a bit after the piling on (what got me started being Florida and his "trolling" remark, I guess that means 0bama was trolling when he said he couldn't guarantee Social Security benefits next month). We are nearly to the point where interest on current debt exceeds GDP, if we're not there already. It's political theater, alright, but it's at the expense of a dire situation.[/QUOTE]

ur good vinnie. compared to some, you're a beacon of objectivity. wasn't aware of our intersest exceeding our gross domestic product either. interesting. so essentially we as a nation are not even able to make enough to pay off our interest which i have to assume will accumulate? let me be the first the say that i welcome our new chinese overlords with welcome arms.

Re: US '13 days from financial disaster'

That's why I like the legitimate Tea party movement, not the co-opted one, which I fear Bachman (since this is one candidate to which you recently alluded and is pretty much off my radar since voting to extend the Patriot Act) is a part of (like 0bama, she has arisen from relative obscurity to a position of considerable name recognition with the next election still over a year away). Those who are all for all-around cutting in unnecessary spending and gutting all manners of waste, not just a single facet of expenditure (i.e. entitlements, which is no doubt important and is fiscally the most out of control followed by Defense spending). Ron Paul seems to embody this understanding at least...he's generally one of a kind, though.

Egan-Jones, a less known credit rating agency, dropped our rating yesterday and this is the first time this has happened to the US:

[URL]http://spectator.org/blog/2011/07/23/us-credit-rating-now-cut-as-bo[/URL]

[quote] Lost in the headlines generated by Obama press conferences, Reuters [URL="http://www.reuters.com/article/2011/07/18/rating-bonds-eganjones-idUSN1E76H0ZH20110718"] reported[/URL] that the credit rating agency Egan-Jones has in fact become the first rating agency to downgrade the U.S. rating. Egan-Jones, says Reuters:

[INDENT] ..has cut the United States' top credit ranking, citing concerns over the country's high debt load and the difficulty the government faces in significantly reducing spending.

[/INDENT] And what else is being reported about Egan-Jones' reasoning for doing this?

[INDENT] The agency said the action, which cut U.S. sovereign debt to the second-highest rating, was not based on fears over the country not raising its debt ceiling. Instead, the cut is due the U.S. debt load standing at more than 100 percent of its gross domestic product. This compares with Canada, for example, which has a debt-to-GDP ratio of 35 percent, Egan-Jones said in a report sent on Saturday.[/INDENT] [/quote][INDENT]Unprecedented waters...enough agencies follow suit and interest rates + inflation could seriously pick up. Get ready for the bread lines. [/INDENT]

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This whole thing is bullshit...will never happen. The sad thing is that the so called leaders in Washington are not really in tune with global markets and don't understand that all this incisiveness on their part is already causing long term damage to the dollar and US bonds...they are playing politics with vital economic issues trying to get re-elected. Sad really.

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[ATTACH=CONFIG]6702[/ATTACH]

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I've decided that I didn't do a very good job with my budget this year, and therefore will not be paying any taxes until I can get my girl to agree on some cuts to her shoe shopping.

I got a kick out of this:

[url]http://www.bbc.co.uk/news/technology-14340470[/url]

Re: US '13 days from financial disaster'

[B]Another Home Depot Co-Founder Blasts Obama: ‘Unpresidential’ & ‘Willfully Dividing US':[/B] (confirming your thoughts, Clint...anyone who denies it just has too much white guilt to see it or they're hopelessly following this fraud off the cliff)

[URL="http://conservativebyte.com/2011/07/another-home-depot-co-founder-blasts-obama-unpresidential-willfully-dividing-us/"]http://conservativebyte.com/2011/07/another-home-depot-co-founder-blasts-obama-unpresidential-willfully-dividing-us/ (includes CNBC interview video)[/URL]

Must be another damn raycist.

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Eating their own:

[video=youtube;_VFdRRBx80A]http://www.youtube.com/watch?v=_VFdRRBx80A[/video]

[quote]Joe Scarborough: "I have got to clear this up. Mika heard two days ago on Capitol Hill Democrats all saying the same thing. And that is, this president has been invisible, he is not a leader. They said this all behind closed doors. Democratic leaders, Democratic rank-and-file. In fact, 40, 50 of the most powerful Democrats on the Hill. I will just stop right there. The complaints were all the same. The president has vanished. He has left us here alone again like he did with health care. Where is he? Now, they didn't call him a loser, but they sure as hell didn't call him a leader."[/quote]

How can this be, raycism sweeping the cuntree.

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[QUOTE=vinnie97;977959][B]Another Home Depot Co-Founder Blasts Obama: ‘Unpresidential’ & ‘Willfully Dividing US':[/B] (confirming your thoughts, Clint...anyone who denies it just has too much white guilt to see it or they're hopelessly following this fraud off the cliff)

[URL="http://conservativebyte.com/2011/07/another-home-depot-co-founder-blasts-obama-unpresidential-willfully-dividing-us/"]http://conservativebyte.com/2011/07/another-home-depot-co-founder-blasts-obama-unpresidential-willfully-dividing-us/ (includes CNBC interview video)[/URL]

Must be another damn raycist.[/QUOTE]

This was actually a pretty good interview and he made some good points about the overall state of the debt.

This guy seems to be like a pretty big dick to me though after seeing what he did to Eliot Spitzer and did whatever he could to take him out after his billionaire ego was hurt. Especially since his buddies on wall st were being restricted by Spitzers oversight.

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I have newfound respect for Bachman actually because she resisted the new so-called Boner budget compromise (it passed 218 to 210, only to be tabled, gutted and slaughtered by the Senate) that only kicks the can further down the road:

[URL]http://weaselzippers.us/2011/07/29/boehner-plan-passes-218-to-210/[/URL]

[quote]Here are the Republicans who voted against the bill:

Amash (MI) Bachmann (MN) Broun (GA) Chaffetz (UT) Cravaack (MN) DesJarlais (TN) Duncan (SC) Graves (GA) Gowdy (SC) Huelskamp (KS) Johnson (IL) Jordan (OH) King (IA) Latham (IA) Connie Mack (FL) McClintock (CA) Mulvaney (SC) Ron Paul (TX) Tim Scott (SC) Southerland (FL) Walsh (IL) Wilson (SC)[/quote]

Backbone and balls when it comes to national survival, these reps put it all on the line.

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The West Wing explains exactly what will happen:

[video=youtube;v5igKuNF1rI]http://www.youtube.com/watch?v=v5igKuNF1rI[/video]

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^ :lol:

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[QUOTE=res0nat0r;977984]This was actually a pretty good interview and he made some good points about the overall state of the debt.

This guy seems to be like a pretty big dick to me though after seeing what he did to Eliot Spitzer and did whatever he could to take him out after his billionaire ego was hurt. Especially since his buddies on wall st were being restricted by Spitzers oversight.[/QUOTE]

i thought it was mixed...bunch of bullshit with some half truths...and a lot of cock sucking

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seth troxler weighs in on the discussion on his facebook page:

[h=6][SIZE=3]"sorry america you just got fucked! to all you republicans your fucking dicks!!! its unreal that you can look at yourself in the mirror. fuck you!" [/SIZE][/h][SIZE=3][/SIZE]

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[IMG]http://www.seattlepi.com/mediaManager/?controllerName=image&action=get&id=1208941&width=628&height=471[/IMG]

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[URL]http://www.cnn.com/2011/POLITICS/08/01/debt.talks/index.html?iref=BN1&hpt=hp_t1[/URL]

Debt ceiling bill passed at the last minute just like the clip from the west wing above states it would :lol:

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You know, I don't think I ever heard anyone from either party talk about cutting spending in areas that didn't directly affect our own economy. What about cutting foreign aid until we can get ourselves out of this mess. I don't think we would get blamed for not being able to support another countries problems when we can't even support our own. I do think cutting funding to government jobs and government programs may not be the smartest thing to do with economy the way it is.