Obama ‘Abruptly’ Walks Out of Debt Talks

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Cantor said he told the president that the two sides remain so far apart at this point that he doubted they could get to $2.5 trillion in cuts (to match the debt increase requested by the administration, enough to get through the 2012 election) given the time available. President Obama has said he will not sign any increase to the debt ceiling less than that amount, and Cantor had previously insisted that the House would vote no more than one time to increase the debt limit. Cantor said he was willing to abandon his position in order to allow some kind of short-term measure to increase the debt limit and reassure credit markets while negotiations continue, and asked the president if he would be willing to consider this option.

At this point, Cantor explained, the president became “very agitated” and said he had “sat here long enough,” that “Ronald Reagan wouldn’t sit here like this” and “something’s got to give.” Obama then told Republicans they either needed to compromise on their insistence on a dollar for dollar ratio of spending cuts to debt increase or agree to a “grand bargain” including massive tax increases. Before walking out of the room, Cantor said, the president told him: “Eric, don’t call my bluff. I’m going to the American people with this.” He then “shoved back” and said “I’ll see you tomorrow.”

nationalreview.com/corner/271853/obama-abruptly-walks-out-debt-talks-andrew-stiles

Obama reportedly told Republicans today that Friday’s the deadline for deciding whether both sides should continue to pursue a real deficit-reduction deal or whether they should shift to looking for some sort of fallback plan a la McConnell to avoid default.
 
Hang in there men, don’t budge. Shut down Washington if you have to.
 
Every day, the U.S. government collects $5 billion in tax revenues. That is positive cash flow in.

They need to write checks for Social Security of about $1 billion per day, another $1 billion for interest on the debt, and another $1+ for Medicare. The rest can go for salaries and other expenses of government.

If they cancel Obamacare, the deficit hole will magically go away.

Let people have freedom of choice for Social Security and Medicare … the Galveston Plan(s) and the Indiana Plan(s).

Use the Eisenhower Plan for benefits for illegal aliens.

As long as the White House quits bailing out their buddies, we should be just fine.

If they grow the economy, then the collections will increase.

But if they shut down the energy sector, well, then the whole economy will collapse.

We don’t need to subsidize housing …never did need to subsidize it.

We don’t need to subsidize any energy scheme such as ethanol from corn. Never did need to subsidize it.

There is enough money for the military and even for NASA to reactivate the shuttle and the Hubble telescope replacement … and the Ares project instead of paying the Russians and a few other worth while items. The NASA budget only takes about a couple of billion and advances all of our science. NASA is the ONLY forward looking activity in the whole Federal establishment. And a lot of the Space Shuttle missions were for the military.

But the rest?

Leave education up to the states.

Absolutely no need to have duplicate EPA’s. The states all have DEP’s nowadays.

We do not need a Federal DOT … let the states handle it. The FAA can be turned into a public corporation and let the airlines pay for it.

After Jimmy Carter canceled the CAB and the ICC, the airline and railroad and trucking industries that had been sagging, began to flourish.

Sell off the real estate that the Federal Government owns … or just give it to the various state governments and let the states decide what to do with it. [If the Feds SOLD it, they would probably actually give it to China as a sweetheart deal. Sort of redolent of what happened to the computer files at Los Alamos under Clinton.]

But Obama and Timmy and the rest of the sophomores in the White House are utterly clueless. Send them home.
 
Mr Obama …you said:
I’m going to the American people with this.”
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The American people are well aware Maybe, you should listen to them? 🤷🤷
 
I think it’s time for a revolution. This system isn’t work out too well.
 
Obama is a dismal failure.

You are right, we need a revolution. Our decendents do not deserve more debt.
 
bbarrick8383 said:
Hang in there men, don’t budge. Shut down Washington if you have to.
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Well he is doing that already by his show boating.

Listen most people don’t understand the debt ceiling. They ask themselves why do we need to raise it? In your own budget if you reached your maximum you would cut your spending. Why doesn’t the government do the same?
 
beckers said:
Well he is doing that already by his show boating.

Listen most people don’t understand the debt ceiling. They ask themselves why do we need to raise it? In your own budget if you reached your maximum you would cut your spending. Why doesn’t the government do the same?
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I think spending needs to be cut on the right things, not things that are beneficial and helpful. Second, you also need to raise taxes, but not for the poor and middle class, but the upper class and upper-middle class.
 
Arkadin said:
Second, you also need to raise taxes, but not for the poor and middle class, but the upper class and upper-middle class.
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The poor and lower middle class pay nothing (nearly 50% of Americans pay nothing or get money back from the government). Why shouldn’t more people pay their fair share?

Or is it only fair if it isn’t your money?
 
I honestly don’t understand the issue very well but I sure hope that I don’t end up losing my SSI checks, Medicaid, and Food Stamps over this. If I lost those things, I’d be in a major mess. I wouldn’t be able to afford my bills and such.
 
Arkadin said:
I think spending needs to be cut on the right things, not things that are beneficial and helpful. Second, you also need to raise taxes, but not for the poor and middle class, but the upper class and upper-middle class.
Click to expand...
Agreed. Even former Federal Reserve Chairman, Greenspan said the Bush tax cuts for the wealthy have helped create these deficits. No one said a word about the huge deficits back during the Bush years. Idealogues are the problem in this country.

No let me put it this way. We are reaping what we sowed in Iraq. We now have a very divided country, a decimated economy and ‘shock and awe’ natural disasters.
 
That all men are by nature equally free and independent and have certain inherent rights, of which, when they enter into a state of society, they cannot, by any compact, deprive or divest their posterity; namely, the enjoyment of life and liberty, with the means of acquiring and possessing property, and pursuing and obtaining happiness and safety. – Virginia Declaration of Rights June 7, 1776

We are not given the inherent right to pursue happiness, we are given the free will to pursue happiness. On the contrary, the apostle Paul, says, “If our hope is in this life only, we of all men are most miserable”. And, “With much tribulation we enter the kingdom of heaven”. And, “we are heirs of God and joint heirs with Christ, if so be we suffer with him, in order that we might be glorified together with him”.

The American dream is the pursuit of happiness. The way of Christ is suffering for His sake. “Whosoever will save his life, will lose it, but whosoever will lose his life for my sake and the gospel will save it. For what does it profit a man if he gains the whole world, but loses his own soul.”
 
byeveryword said:
That all men are by nature equally free and independent and have certain inherent rights, of which, when they enter into a state of society, they cannot, by any compact, deprive or divest their posterity; namely, the enjoyment of life and liberty, with the means of acquiring and possessing property, and pursuing and obtaining happiness and safety. – Virginia Declaration of Rights June 7, 1776

We are not given the inherent right to pursue happiness, we are given the free will to pursue happiness. On the contrary, the apostle Paul, says, “If our hope is in this life only, we of all men are most miserable”. And, “With much tribulation we enter the kingdom of heaven”. And, “we are heirs of God and joint heirs with Christ, if so be we suffer with him, in order that we might be glorified together with him”.

The American dream is the pursuit of happiness. The way of Christ is suffering for His sake. “Whosoever will save his life, will lose it, but whosoever will lose his life for my sake and the gospel will save it. For what does it profit a man if he gains the whole world, but loses his own soul.”
Click to expand...
So, St Paul would be ok with across the board tax increases, correct?
 
beckers said:
Well he is doing that already by his show boating.

Listen most people don’t understand the debt ceiling. They ask themselves why do we need to raise it? In your own budget if you reached your maximum you would cut your spending. Why doesn’t the government do the same?
Click to expand...
Couldn’t agree more. I understand the debt ceiling, it’s probably one of the most self explanatory terms in Washington. I’m sure after all this they will look for a way to rename it to confuse the masses, but I think most people get it. If not, the debt ceiling is the least of our worries.
 
I love how the Tea Partiers are ensuring the re-election of the President!! Keep it up fellas. America is watching. . . .
 
We shouldn’t be too quick to judge. Maybe it had nothing to do with being politically intransigent. Maybe his having to leave had more to do with a bad case of explosive diarrhea or something like that.

Sh, err stuff happens.
 
byeveryword said:
Agreed. Even former Federal Reserve Chairman, Greenspan said the Bush tax cuts for the wealthy have helped create these deficits. No one said a word about the huge deficits back during the Bush years. Idealogues are the problem in this country.

No let me put it this way. We are reaping what we sowed in Iraq. We now have a very divided country, a decimated economy and ‘shock and awe’ natural disasters.
Click to expand...
Bush tax cuts increased Federal revenue.

But they blew through that a long time ago.

Obama opened the wound up and dumped salt on it.

“In this present crisis, government is not the solution to the problem, government is the problem”
 
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