Republicans advance bill to prepare for debt ceiling fight

Apr 24, 2013 Full story: Reuters 19

A key committee of the House of Representatives approved a measure on Wednesday designed to make it easier for Republicans to again withhold approval of a rise in the government debt ceiling to extract spending cuts from President Barack Obama.

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Rem223

Madison, CT

#3 Apr 24, 2013
Defund obammys complete administration, then look for ways to impeach this mooslim lovin marxist.

Since: Feb 07

Location hidden

#5 Apr 25, 2013
The Congressional Parties have bank accounts and feeders on 'K-street', to protect.
A good Libertarian Movement should capture the enthusiasm of the OCCUPATION, and send them running to their private jets.

Since: Feb 07

Location hidden

#7 Apr 25, 2013
Be prepared to work twice as hard and sprint to death, there is no retirement.
This is Obama'sAmerica.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#8 Apr 25, 2013
And the next round of GOPee sabotage of our economy begins.

I wonder when the President will simply have enough, abolish the debt ceiling, and begin arresting House Republicans as traitors?

We cannot have our nation held hostage by these America-hating scum of the Republican Party. They have to be stopped. We must show that we will not be party to their destructive, partisan games.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#9 Apr 25, 2013
Rem223 wrote:
Defund obammys complete administration, then look for ways to impeach this mooslim lovin marxist.
Sedition = Treason = Federal Pen for you, punk.
Gary

Bellingham, WA

#10 Apr 25, 2013
tha Professor wrote:
And the next round of GOPee sabotage of our economy begins.
I wonder when the President will simply have enough, abolish the debt ceiling, and begin arresting House Republicans as traitors?
We cannot have our nation held hostage by these America-hating scum of the Republican Party. They have to be stopped. We must show that we will not be party to their destructive, partisan games.
Arrest then as traitor?

What then, shoot the lot of them?

“Moderately yours....”

Since: Aug 12

Buffalo, NY

#11 Apr 25, 2013
Again the GOP will squander any appearance of adulthood.
The economy won't collapse if they make a grand stand play.
But it will be another self inflicted wound.
The few remaining moderates need to either drink the Kool-aide or walk away on this issue and live fight another day.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#12 Apr 25, 2013
Gary wrote:
<quoted text>
Arrest then as traitor?
What then, shoot the lot of them?
I don't support capital punishment, no.
Don Joe

Minneapolis, MN

#13 Apr 25, 2013
Come on, if we push austerity hard enough, the depression will worsen and we can blame it on Obama. If we keep demanding more and more austerity, Obama will cave and he will never be elected again.

Since: Mar 09

The Left Coast

#14 Apr 26, 2013
It is a progressively proven fact that the only way to get out of debt is to spend more, lots more.
LETS SPEND MORE

West Mifflin, PA

#15 Apr 26, 2013
since LBJ, the country has tied itself in knots trying to PULL 15 percent of the population ,onto main street.. NET RESULT,... 16PERCENT on permanent underachiever status, 31 percent financially dead in the middle of the race.40 percent waiting to go broke at the first DIP.. and an elite that has us in debt in excess of 50 trillion FEDERAL RESERVE NOTES..or 250,ooo,ooo times the speed of light.......{ one dollar = one mile}.... most are headed up the creek with no paddle..even the FED IS FEDUP

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#16 Apr 26, 2013
UMass grad student Thomas Herndon found simple math errors in the spreadsheet that lies behind the influential study by Reinhart & Rogoff that neocons have been using to support austerity budgeting; the R and R paper argued that growth slows precipitously when a country's debt rises above 90% of GDP.(It turns out that no, Keynes and Krugman are right: in recessionary times, deficit spending is perfectly acceptable in order to get people back to work.) Imagine that--riots in Europe because of a math error.

The big question: Why were Reinhart & Rogoff taken seriously? That kind of crap economics is just bearding for the 1%--like the infamous "Laffer" curve in the Reagan era, like the Environmental Kuznets Curve, like so much other standard economic thinking.

Stephen Colbert had fun interviewing Herndon.

Read more: http://www.businessinsider.com/stephen-colber...

“Come Home America!”

Since: Nov 11

Claymont, Delaware 19809

#17 Apr 26, 2013
"Economic debates rarely end with a T.K.O. But the great policy debate of recent years between Keynesians, who advocate sustaining and, indeed, increasing government spending in a depression, and austerians, who demand immediate spending cuts, comes close at least in the world of ideas. At this point, the austerian position has imploded; not only have its predictions about the real world failed completely, but the academic research invoked to support that position has turned out to be riddled with errors, omissions and dubious statistics. " Check this out: http://www.nytimes.com/2013/04/26/opinion/kru...
PICAYUNE YOU

West Mifflin, PA

#18 Apr 26, 2013
THE DAY I REALIZED THAT THE FEDS THE STATE AND THE COUNTY were really a $crew you ,ponsi,smoke and mirrows type operation. and my welfare was not on their welfare means tested list. ...i was 19.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#19 Apr 26, 2013
RustyS wrote:
It is a progressively proven fact that the only way to get out of debt is to spend more, lots more.
Typical Rightie strawman.

It IS a fact that you can pull an economy out of RECESSION by spending more, lots more. Why? BEcause it's been done multiple times in history, starting with the New Deal, based on the economic principles outlined by Keynes.

You will go into debt, sure. The U.S. was in worse debt during WWII, though, and we pulled out of it into an era of prosperity. Righties prefer to re-write history and ignore those facts.

“So long to you, Righties”

Since: Jan 12

keep suckin' and whiffin'!

#20 Apr 26, 2013
PICAYUNE YOU wrote:
THE DAY I REALIZED THAT THE FEDS THE STATE AND THE COUNTY were really a $crew you ,ponsi,smoke and mirrows type operation. and my welfare was not on their welfare means tested list....i was 19.
Grow up some more, then get back to us.

“Moderately yours....”

Since: Aug 12

Buffalo, NY

#21 Apr 26, 2013
frontporchreactionary wrote:
"Economic debates rarely end with a T.K.O. But the great policy debate of recent years between Keynesians, who advocate sustaining and, indeed, increasing government spending in a depression, and austerians, who demand immediate spending cuts, comes close at least in the world of ideas. At this point, the austerian position has imploded; not only have its predictions about the real world failed completely, but the academic research invoked to support that position has turned out to be riddled with errors, omissions and dubious statistics. " Check this out: http://www.nytimes.com/2013/04/26/opinion/kru...
The austerity school of thought has a basis in truth.
The first truth is that Keynesians misrepresent is that you can not afford endless red ink. An anti austerity agruement based upon disputing where the terminal point is, where you drown in debt does nothing to change that you can drown in red ink And is counter productive..
The austerity group misses the point on the diminished returns of a hard core austerity program.
Example. Take away welfare.Reducing consumer spending. With out spending employeers lay off (No matter how large a tax cut offered)...Layed off people with no income spend less. Thus there is little hope of breaking the cycle.
...But austerity's biggest fans ignore a basic reality. It is harder to sell austerity politicaly.

Since: Mar 09

The Left Coast

#22 Apr 26, 2013
tha Professor wrote:
<quoted text>
Typical Rightie strawman.
It IS a fact that you can pull an economy out of RECESSION by spending more, lots more. Why? BEcause it's been done multiple times in history, starting with the New Deal, based on the economic principles outlined by Keynes.
You will go into debt, sure. The U.S. was in worse debt during WWII, though, and we pulled out of it into an era of prosperity. Righties prefer to re-write history and ignore those facts.
I reality, partially true, or progressively, absolutely true. I can work and has worked in the very short term. I will not work as a never ending standard means of government. Which is why we are $17TRILLION in debt with the estimate it will be over $20TRILLION before Obama leaves. Assuming he doesn't run for a third term. After all, the 22nd Amendment was written so long ago, it is really out of date and, as with the 2nd, it is really more of a guideline.

“Yeah, but...”

Since: Sep 11

MILKY WAY

#23 Apr 26, 2013
Buffalo Bull wrote:
Again the GOP will squander any appearance of adulthood.
The economy won't collapse if they make a grand stand play.
But it will be another self inflicted wound.
The few remaining moderates need to either drink the Kool-aide or walk away on this issue and live fight another day.
The Ways and Means Committee propose that the Federal Government will continue to fulfill its obligations. It will pay its debt and honor its commitment to Social Security recipients even if the debt ceiling is not raised. In other words, the Ways and a Means Committee are proposing that the Federal Government will live within its means.

It's a responsible position. Arguing against it is childish.

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