Democrats urge Obama to be ready to b...

Democrats urge Obama to be ready to bypass Congress on debt cap

There are 279 comments on the Reuters story from Jan 11, 2013, titled Democrats urge Obama to be ready to bypass Congress on debt cap. In it, Reuters reports that:

Top Democratic senators urged President Barack Obama on Friday to be ready to raise the debt ceiling without congressional approval in order to avert a damaging debt default.

Join the discussion below, or Read more at Reuters.

Don Joe

Saint Paul, MN

#244 Jan 17, 2013
Madaman wrote:
<quoted text>
Debt is NOT America's most pressing problem -- that would be unemployment. When those millions of people go back to work, they will generate demand for goods and services, AND pay state & Federal taxes, and pay into FICA. Returning those millions to work is our most urgent task -- doing so will go a long way toward reducing the deficit.
Contrary to popular belief, debt is NOT the huge problem some think. With interest rates at historic lows, the cost of the debt is also at historic lows. This does NOT mean -- HURRAY! LET'S BINGE on spending, it is just putting debt in a better perspective.
The same sharp accountants that ensured that very few paid the top rate when it was 90%, were also at work when the rate was 70%, and when it was 39.6%, as well as when it was 35%. The fact that very few actually pay the top rate does appear to stop the Grover Norquist crowd from outbreaks of hysteria over those top rates!
We need to shrink the Tea Party down to the size where we can drown it in a bathtub!
Well said and worth repeating.

I would add that with higher rates, there is more incentive to invest, either in growing your own company, or in other companies such as start-ups. This helps grow the economy and increases employment dramatically. While no one would pay those rates, the incentive is then in place to grow the economy.

“Sustainability Now!”

Since: May 08

Vadnais Heights

#245 Jan 17, 2013
Don Joe wrote:
<quoted text>
Well said and worth repeating.
I would add that with higher rates, there is more incentive to invest, either in growing your own company, or in other companies such as start-ups. This helps grow the economy and increases employment dramatically. While no one would pay those rates, the incentive is then in place to grow the economy.
Thanks!

I understand your comment, but suspect that upper end tax policy plays a very small role in economic growth. The only thing that grows an economy is consumer demand -- demand for what start-ups can provide, demand for the better mousetrap your own company can provide. Yes, I am a Keynesian.

“Hillary, thirty years of lying”

Since: Nov 08

Paris

#246 Jan 18, 2013
sickofit wrote:
<quoted text>
why??????? I mean Bush let the USA be attacked on 9-11 he knew it and let it happena nd then he wasted 7-10 trillion on his private wars and give aways to his rich buddies...and he crashed the GREAT economy Clinton handed him....YET HE DID NOT GET IMPEACHED.....Obama has not even come close to Bushies evils....IS IT BECAUS EOBAMA IS BLACK WHY YOU AHTE HIM BECAUSE HE HAS DONE A GREAT JOB OF TURNING AORUND THE BUSHIES GOP DEPRESSION.
Sorry, brain transplants are not available yet. Republicans refuse to donate to a liberal and raise their IQ.
1 post removed
Responsibility

Redwood City, CA

#248 Jan 18, 2013
Le Jimbo wrote:
<quoted text>
Hey aujumbles, seen an black helicopters today?
the rest of us

Saint Paul, MN

#249 Jan 18, 2013
Madaman wrote:
<quoted text>
Debt is NOT America's most pressing problem -- that would be....BLAH,FART,BLAH....
Hey dense, arrogant boob school bus driver, nobody reads your dumb 200 word posts as you've been told many times. You have NO credibility on budget matters.

Since: Feb 11

Location hidden

#250 Jan 18, 2013
Le Jimbo wrote:
<quoted text>Sorry, brain transplants are not available yet..
You mean like the brains of people like you who endorsed Herman Cain?

HAHAHAHAHAAHAHAHAHAHAHAHHA!

Sorry, Dumbo: abnormal brains are not going to be used in transplants.
Don Joe

Saint Paul, MN

#251 Jan 18, 2013
Madaman wrote:
<quoted text>
Thanks!
I understand your comment, but suspect that upper end tax policy plays a very small role in economic growth. The only thing that grows an economy is consumer demand -- demand for what start-ups can provide, demand for the better mousetrap your own company can provide. Yes, I am a Keynesian.
I would argue that having an incentive for investment would provide jobs for people creating new products and services, which supports consumer demand; both encouraging demand, and filling that demand simultaneously.

However, I agree that spurring demand is what really helps the economy.
LostLeft

United States

#252 Jan 18, 2013
I hate to rain on the parade but if you believe that the current level of debt in this country is not a pressing problem you are simply not a resident of reality. The problem is critically urgent and the debt has grown in the last four years more than in all the other years in our country's history combined. You can put out all kinds of fluffy economic strategies and tactics but if you spend more than you take in you WILL go bankrupt - that is the most basic of economic concepts. You could put ever person in the entire country to work today and the debt is so large that it would still be a major problem. You cannot spend your way out of an economic disaster which was intially brought on by irresponsible spending.

You will NEVER solve nor improve the economy as long as the Obamites are looking for new and exciting ways to get more of themselves bellied up to the government trough. The liberals have grown in numbers - congrats on that - the problem is that now there are simply more "takers" in our society than "givers". An ever larger part of society that does next to nothing expects to be given a portion of the productive members of society's income so they can continue their "work free" lifestyle and they are upset when the productive members take exception to their demand. The government borrows more and more money to keep their voters' trough full and the economy goes further in the tank. The economy will make no improvements while the liberals who support pro-facism class conflict are in power. Drown the tea party all you like - you cannot escape nor seemingly understand the basic principles of economics in a free society.

Since: Oct 08

Alpharetta, GA

#253 Jan 18, 2013
yes, as lost left up above me has stated, the non taxpayers now outvote the taxpayers...bad things are gonna happen fast now.

I'm still waiting on a lib to answer a simple question...when the non taxpayers outvote the taxpayers, will that be good, or bad?

Why do they dodge such a simple question?

Since: Oct 08

Alpharetta, GA

#254 Jan 18, 2013
ontg wrote:
<quoted text>When the tax rate was 90%- no one unless they had a REALLY stupid accountant paid that rate. So many things were deductable that their taxable income was usually less than half of their actual income in some cases 70-80 percent less. The problem is not with the tax rates it is with the tax code. Raising the tax rate does not mean the rich will pay more-but I can almost guarantee the middle class will!
you are wasting your time trying to explain that to a lib, all they can say is "back during Eisenhower, the top tax rate was 91%"
Don Joe

Saint Paul, MN

#255 Jan 18, 2013
inbred Genius wrote:
yes, as lost left up above me has stated, the non taxpayers now outvote the taxpayers...bad things are gonna happen fast now.
I'm still waiting on a lib to answer a simple question...when the non taxpayers outvote the taxpayers, will that be good, or bad?
Why do they dodge such a simple question?
It has been answered many times, quit beating your wife.

When taxpayers, like people who work, are outnumbered by corporations who pay no taxes, it is a bad thing. When taxpayers, people who work are outnumbered by the idle rich, bad things happen.

Who are the non-tax payers? Only the very rich people and corporations; you know, the people who can afford their own congressmen and lobbyists. The rest of us have to pay income tax, property tax, sales taxes, excise taxes, and a whole lot more.

The question is when will the number of people so rich they don't pay taxes out number the rest of us? Probably never, since they are small in number and shrinking. The very very rich are now transferring the wealth from the very rich.
Voice of Reality

Colonial Heights, VA

#256 Jan 18, 2013
barefoot2626 wrote:
<quoted text>
You mean like the brains of people like you who endorsed Herman Cain?
HAHAHAHAHAAHAHAHAHAHAHAHHA!
Sorry, Dumbo: abnormal brains are not going to be used in transplants.
This coming from a guy who does nothing but sit on his ass and post every hour of every day. I am sure that your body has turned to mush and your vital organs are beyond consideration for anything but sitting in one place.
Billy Ringo

United States

#257 Jan 18, 2013
Absolutely - for all intents and purposes there is no Congress. O should issue Executive Orders and DARE the House to challenge him.

The House is too busy at their "retreat" trying to figure out how to talk to women and minorities - they can't be bothered with doing the job they were elected to do.

If the House refuses - or is unable - to do their job - fook 'em.
Billy Ringo

United States

#258 Jan 18, 2013
inbred Genius wrote:
yes, as lost left up above me has stated, the non taxpayers now outvote the taxpayers...bad things are gonna happen fast now.
I'm still waiting on a lib to answer a simple question...when the non taxpayers outvote the taxpayers, will that be good, or bad?
Why do they dodge such a simple question?
The REAL question is why do you keep askng the same stupid, nomsensical, asinine thing?

I, and may others, have answered this many, many times. Reaing coprehension issues?

EVERYBODY pays taxes, whether it be income, sales, etc.

You following this?

No wonder the Cons/Baggers can't win a national election. If you represent their electoral base - Dems have nothing to worry about.

Actually, you were more amusing when you were whinning about birth certificates.

Keep up the good work.


Since: Oct 08

Alpharetta, GA

#259 Jan 18, 2013
Billy Ringo wrote:
<quoted text>
The REAL question is why do you keep askng the same stupid, nomsensical, asinine thing?
I, and may others, have answered this many, many times. Reaing coprehension issues?
EVERYBODY pays taxes, whether it be income, sales, etc.
You following this?
No wonder the Cons/Baggers can't win a national election. If you represent their electoral base - Dems have nothing to worry about.
Actually, you were more amusing when you were whinning about birth certificates.
Keep up the good work.
aww silly billy, we're talking bout IRS taxes paid, not cig taxes, beer taxes, lottery ticket taxes, etc.....and I never was a big birth certificate guy, I can tell he was born in Kenya just by looking at him.
Voice of Reality

Colonial Heights, VA

#260 Jan 18, 2013
Billy Ringo wrote:
<quoted text>
The REAL question is why do you keep askng the same stupid, nomsensical, asinine thing?
I, and may others, have answered this many, many times. Reaing coprehension issues?
EVERYBODY pays taxes, whether it be income, sales, etc.
You following this?
No wonder the Cons/Baggers can't win a national election. If you represent their electoral base - Dems have nothing to worry about.
Actually, you were more amusing when you were whinning about birth certificates.
Keep up the good work.
Mr. Rilly Bingo, you talk just like one of the obama fans who get their fun waiting for the first of the month. I have a question for you, do you run your household budget the way you suggest obama should the US budget? Unfortunately you are somewhat right about as to why republicans have a hard time winning national elections, it is because the government dependent welfare type people are in the majority and they do not wish their freebes to be cut off or down.

Your last statement about sums up your lack of knowledge and stupidity, the birth certificate issue about obama was originally brought up by Billy Boy and Hillary Clinton during the 08 Democrat campaign, ergo, your original birthers were Hillary and Billary.

“Sustainability Now!”

Since: May 08

Vadnais Heights

#261 Jan 18, 2013
LostLeft wrote:
I hate to rain on the parade but if you believe that the current level of debt in this country is not a pressing problem you are simply not a resident of reality. The problem is critically urgent and the debt has grown in the last four years more than in all the other years in our country's history combined. You can put out all kinds of fluffy economic strategies and tactics but if you spend more than you take in you WILL go bankrupt - that is the most basic of economic concepts....
There are far better qualified economists who totally disagree with you. From Paul Krugman's January 17 column:

"This is, however, a case in which what everyone knows just ainít so. The budget deficit isnít our biggest problem, by a long shot. Furthermore, itís a problem that is already, to a large degree, solved. The medium-term budget outlook isnít great, but itís not terrible either ó and the long-term outlook gets much more attention than it should.

Itís true that right now we have a large federal budget deficit. But that deficit is mainly the result of a depressed economy ó and youíre actually supposed to run deficits in a depressed economy to help support overall demand. The deficit will come down as the economy recovers: Revenue will rise while some categories of spending, such as unemployment benefits, will fall. Indeed, thatís already happening."

There is NO WAY to accurately use family kitchen-table economic knowledge when dealing with the world's largest economy. Krugman concludes with:

"The deficit scolds dominating policy debate will, of course, fiercely resist any attempt to downgrade their favorite issue. They love living in an atmosphere of fiscal crisis: It lets them stroke their chins and sound serious, and it also provides an excuse for slashing social programs, which often seems to be their real objective.

But neither the current deficit nor projected future spending deserve to be anywhere near the top of our political agenda. Itís time to focus on other stuff ó like the still-depressed state of the economy and the still-terrible problem of long-term unemployment."

Get people back to work, and their earnings will yield higher tax revenues, lower social program costs, and provide the best "stimulus" possible to our economy.

Since: Feb 11

Location hidden

#262 Jan 18, 2013
Voice of Reality wrote:
<quoted text>
This coming from a guy who does nothing but sit on his ass and post every hour of every day.
Obviously, I don't.

Happy to see proof otherwise, though, let's put something on it.
Thanks4Nothing

United States

#263 Jan 18, 2013
Don Joe wrote:
<quoted text>
It has been answered many times, quit beating your wife.
When taxpayers, like people who work, are outnumbered by corporations who pay no taxes, it is a bad thing. When taxpayers, people who work are outnumbered by the idle rich, bad things happen.
Who are the non-tax payers? Only the very rich people and corporations; you know, the people who can afford their own congressmen and lobbyists. The rest of us have to pay income tax, property tax, sales taxes, excise taxes, and a whole lot more.
The question is when will the number of people so rich they don't pay taxes out number the rest of us? Probably never, since they are small in number and shrinking. The very very rich are now transferring the wealth from the very rich.
Why are you so jealous of those who have worked and become successful? As a liberal you would think you would love them - their taxes are what pay the liberals way in life. If there weren't SOMEONE to be out there working and paying taxes what would liberals do? Go out an actually work among the soiled and evil normal people? Liberals think they are entitled to a portion of the money made by those who have worked to be successful - it is that simple. Why work to be successful when you can steal success from another person whoo IS willing to work? You even try to say people who don't pay income tax still pay sales tax. Yes they do - with the money they got from someone else. Don't try to count the sales tax that the deadbeat downtrodden pay with someone else's money. I find it hard to understand an arguement that seeks to reward the unproductive in our society who are unproductive by choice. You seek to steal success for those who have done nothing to earn it. There are non among the corporations who are as evil as the government from which you nurse. Don't expect to seek success by theft and expect those from which you steal to go along quietly. You earn success - you don't steal it from others.

“Hillary, thirty years of lying”

Since: Nov 08

Paris

#264 Jan 19, 2013
Responsibility wrote:
<quoted text>
Hey aujumbles, seen an black helicopters today?
Vice President Joseph R. Bidenís claim that he heard the gunshots of a 2006 school massacre while playing golf is raising questions about his veracity or his memory.

Mr. Biden told a meeting of mayors in Washington Thursday that he was about a quarter-mile away from an Amish schoolhouse on Oct. 2, 2006, when a gunman shot and killed five students and wounded five others.

ďI happened to be literally ó probably, it turned out, to be a quarter of a mile [away] at an outing when I heard gunshots in the woods,Ē Mr. Biden recounted.ďWe didnít know Ö we thought they were hunters.Ē

But a search of maps of the area in Lancaster County, Pa., shows the nearest golf course to the site of the shooting, Moccasin Run Golf Club, is about five miles away. Rodney King, the golf pro at Moccasin Run, said Friday he was working at the course on the day of the shooting and never saw Mr. Biden, who was then a U.S. senator.

ďThereís a lot of things here that I find hard to believe,Ē Mr. King said.ďI looked in my database, and he [Mr. Biden] is not in my database.Ē

Even if Mr. Biden had played at the course that day, Mr. King said,ďItís very far-fetched that he would have heard it.Ē

Read more: http://www.washingtontimes.com/news/2013/jan/...

SHADES OF HILLARY AND SNIPER FIRE........JEEBBBEEEEBUS THESE CLOWNS ARE A HOOT.

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