OK I looked and can't see a single time that the US failed to increase the debt ceiling other than in 1937 when there was no real need to increase the debt ceiling.

So I'm thinking you're wrong about that and even worse wrong about how bad it would be.

 

He had it confused with passing budget like when Clinton shut down the Gov for a few weeks...

I called him on it......lots of people make the mistake...

 

Well the first thing that proves is the conservative/Republican/Tea Baggers in congress want impossible things and have backed themselves into impossible corners.

Where as I hope you notice that earlier today Nancy Pelosi said that the democrats might have to accept some cuts and losses that would not be tolerable except that defaulting on the debt ceiling would be so terrible they would do it.

And then Cryin John walked out on that. Well that's a lie. He went back to his conservative/Republican/Tea Baggers in congress and turned out to be impotent. The conservative/Republican/Tea Baggers have painted themselves into congress they cannot say yes to anything.

What a hilarious, hypocritical, and comical political cluster fuck.:excited:

 

Actually that was Newt Gingrich and the instant the Contact With America became the Contract On America (just like now) and that was the end of the lie of conservatism for awhile because people caught on that once again the conservatives were just lying to them.

Here's a fact no one will admit but congressional scholars are the ones that studied it. And the first two years of the House going back into democratic control under nancy Pelosi was actually far more effective at getting things passed than the 1994 alleged Reagan revolution.

 

Cryin John has a news conference at 7:15....

there are some idiots up there that want us to default but that would raise int payments 150 billion a month...debt would be rated down and rates would go up...

 

although I lean to the left I did not care for a lot of what Peloisi did or passed.....but you are correct...when Regan was in - there was a big push for the Reb to regain control of congress...I was a part of that committee on regional Basis...

 

John Boehner is making a fool of himself and instead of answering questions is dodging them. And a little incoherently at that.

He is sinking and depending on already discredited rhetoric. He can't stand there with polls showing 70% of the American people disapproving of the Republican's performance and claim they are conducting the people's will.

I have never seen anyone in politics so defeated at face value in what they are saying in answer to what someone else has said.

Boehner is sinking himself further by the moment.

And you talk about stupidity Boehner is trying to match what he does worst against what President Obama does best.

But the one thing Boehner has repeated more than any other statement by several times is "we cannot default on the nations debt." Translation: Yeah we are going to raise the debt limit and all this was for naught.:excited::excited:

 

As long as its confession time I'm supposed to be a democratic precinct chairman and I have never voted a straight ticket in my life. We don't need another hero and another idiot won't help at this point either. I tend to vote for people I believe can think.

 

Sorry been busy,

Several things to keep in mind:

* Inflation and devaluation of the US currency alters things like trade balances and and CoL for citizens.
* War does strange things to markets (win or lose) there are whole chapters on 'Guns n Butter', and things get much more complex when geopolitical considerations arrive.
* All 'information' that is provided is aged by the time it reaches the consumer because 'tax year collections are 4-16 months old for consumer and at minimum quarterly (+ a few months for filing and FED crunching)
* When I talk second and third order effects they are things like 'businesses reducing labor hours' which is a multiquarter decision driven by sustained quarters of the reality they face (if a manufacturing division is unprofitable and requires a 10% reduction the company may not make that decision over night simply because HR is a pain in the ass)
* Each order of effect can take 6-18 months to show up even BEFORE they are reported, if you lose your job in Feb it won't show up on your tax reports until 14 months later the following April.

There were also systemic changes made in the years you cited, making the comparison to today 'difficult'.
* Simple things like Male / Female life expectancy of 57 / 59 at the initiaton of the SSI program and paying at 65 is equivalent to our ~80 year life expectancy today would start paying at about age 100-110.
* The early cited years the US was on a GOLD standard meaning that congress when they wanted more money couldn't go down to the basement and turn on the printing presses (an inflationary activity)

Economics takes time to turn either way with the indicators and the individual & business expansion and contraction decisions. You don't see the effects of a president and congress's policies until 6-18 months after, so if your socialist president FDR instituted his policies:

*not_secure_link*en.wikipedia.org/wiki/File:Gdp20-40.jpg

He did no good for the economy, and actually harmed GDP

The same applies to O-bum-a:

*not_secure_link*www.usgovernmentsp...ct GDP History&state=US&color=c&local=s&show=

He was lead by congress and bush's debacle and hit the ground running with his own dead cat bounce, just like FDR, killing jobs and damaging the private sector.

 

Market would tank and trillions lost in the value of the current US bond holders and US citzens own 30% of those bonds....SS holds ungodly amount of them...

To be fair until I see the facts both lied in one form or the other...

 

Call me partisian but bring your proof.

I have never seen a bigger political slam dunk in my life than President Obama's statement and question and answer period compared to John Boehner's statement and question and answer period.

On every instance where President had presented particulars Boehner could not directly answer any of them and constantly resorted to nothing more than worn out conservative/Republican/Tea Bagger false propaganda and misinformation.

 

we were in one of these type messes back then and I thought Reagan might would help get us out and he damn near took down the US Banking system......

I still say the best I have seen since 1950 was Clinton and I was opposed to him in the start....

 

Boehner claims Obama slipped 400 billion more in revenuse (taxes) in at the last moment....

Got to see some facts somwhere.....should have never been behind closed doors...

 

80-110 years has passed to set this table. no one is still alive who was making decisions in those days. all the lessons are forgotten and morons clinton / bush spent 16 years breaking down the financial regulations and institutions that were put into place in order to prevent this.

when they rolled back the banking/insurance/brokerage barriers they opened the barn doors for all manners of shenanigans.

unless you study history with a clean eye and firm grasp of macro system and micro interactions you're just going to get smoked. the stuff is INTENTIONALLY set up to be confusing as a form of monopolistic protection.

when was the last time your broker sat you down and explained exchange rates effects on 'Ex-Im' and how the currency play can effect your commodities and forex trades. . . ?

unless you understand that shit on your own you are going to get taken by the house every time you play. that is why stupid people dive into the markets thinking they will get rich, end up poor, and sulk on the sidelines the rest of their lives complaining about the nasty rich.

It is the same as casino blackjack; don't sit at the table unless you know the rules. you're just going to lose your money. . .

 

What is the 14th Amendment??

 

I agree that was a bad fucking mistake....the start to the end...

 

Its so cool you asked that question because the 14th Amendment is what actually freed the slaves and says anyone born in the US is a US citizen by birth and a whole bunch of other things that much of our civil rights and other things are based on.

And then from almost nowhere in section #4 it takes off with this:

*not_secure_link*en.wikipedia.org/wiki/Fourteenth_Amendment_to_the_United_States_Constitution

Now for all those Tea Baggers especially who claim they love the constitution and only want our government to obey our constitution it could not be any clearer than that could it about the constitutionality of even having a debt limit let alone voting for it.

And let me admit that I tutored Politics and Government and the US Constitution I had to be reminded that statement even existed and most certainly never attached any significant meaning to it.

But there it is.

So what does President Obama say about it?

Well being a constitutional scholar (which he never gets credit for) President Obama's assessment and response is: (in my own words not his) You have got to be fucking kidding me???? You want to take one obscure phrase in the US constitution that was specifically written to keep states and everyone else from defaulting on their debts by political means and try to apply it to raising the federal debt ceiling in 2012????

Will you just once get in the real fucking world?????

 

I caught a guick line from someone on cnbc that said...Clinton has told Obama to invoke the 14th Amendment...LOL after eading what you wrote ...makes sense..

Clinton is a Constitutional Lawyer...

 

President Obama not only covered that he nailed Boehner on the first rule of political rat fucking which is: When you opponents accuse you of wrong doing immediately demand proof. However, remember the pitfall is if they have it and provide it you're fucked."

During one of the questions President Obama was asked specifically if he had moved the goal posts as Speaker Boehner later claimed (before he actually claimed it). And President Obama's response was you can check for yourself because we are are releasing the entire history and transcripts of the meetings."



From my own personal experience in the news business it doesn't get any more factual and document-able than that because not only the facts but the timelines are right there.

The only thing that might bother someone with experience is that if was not a set up, and they did not have everything documented in their favor, there is more courts in the US than you got years to live to try and get that information out of them.

When I say slam dunk I don't say that President Obama didn't set a pick and leave Boehner standing there with his jock in the air.

I'm saying Americans also appreciate those kinds of moves as well.

 

That is what I want to see...remember I said until I see some facts....

Honestly Boehner looked like he was lieing.....I have been in enough dealings and you just get a feeling....