• Debt Ceiling Negotiation Megathread
    1,176 replies, posted
[QUOTE=Fata;31488279]So am i, And they're still voting.[/QUOTE]The headline says "SENATE PASSES DEBT DEAL, Obama expected to speak soon"
[QUOTE=L0LIMB0RED;31488299]The headline says "SENATE PASSES DEBT DEAL, Obama expected to speak soon"[/QUOTE] Derp there website just posted as i was watching the live stream on there site.
[QUOTE=L0LIMB0RED;31488299]The headline says "SENATE PASSES DEBT DEAL, Obama expected to speak soon"[/QUOTE] Well good, I guess that's averted then.
They really could not have cut this any closer. Well at least we got a deal.
[QUOTE=Megafanx13;31488354]Well good, I guess that's averted then.[/QUOTE] Kicked the can down the road my friend.
So boys, Is it time to overthrow and reseat everyone in office? I think it is after this whole situation.
[QUOTE=Protocol7;31488415]Kicked the can down the road my friend.[/QUOTE] I'm just glad the Republicans have less of a chance to blame Obama for this again since we've pushed it past the 2012 elections.
[QUOTE=Megafanx13;31488508]I'm just glad the Republicans have less of a chance to blame Obama for this again since we've pushed it past the 2012 elections.[/QUOTE]And they can't start a shitstorm in the middle of the election.
[QUOTE=Political Gamer;31488530]And they can't start a shitstorm in the middle of the election.[/QUOTE] Yeah, although it did make my blood boil watching the Congress Tea Partiers rant about how taxes on "job creators" will kill the economy and "unthinkable defense cuts".
[QUOTE=Megafanx13;31488602]Yeah, although it did make my blood boil watching the Congress Tea Partiers rant about how taxes on "job creators" will kill the economy and "unthinkable defense cuts".[/QUOTE] Yeah but the tea party is full of drunk, gun-carrying dumbshits that should of never been elected into office in the first place. tl;dr Tea party is like a special ed class of government.
[url]http://www.justin.tv/rockinroooster#/w/1561155600/3[/url] Obama giving a speech.
[QUOTE=Thom12255;31488706][url]http://www.justin.tv/rockinroooster#/w/1561155600/3[/url] Obama giving a speech.[/QUOTE] Sounds like he still wants to rescind the tax breaks, and I like that. However, it's going to be a tough fight.
Just got back in, what did I miss?
[QUOTE=HumanAbyss;31482577] I'd also really like to question you as to why you believe it's simply the taxes that are making the companies and corporations suffer when those same companies are making record breaking profits. [/quote] jesus, your right [quote]And how those taxes even apply when they'er the most dodged taxes around.[/QUOTE] the effective tax rate is comparable to most other western countries, the maximum tax rate is higher. but it shows how confusing and stupid our tax system is, at least... [QUOTE=GeneralFredrik;31484554] Guess who they are/were? I don't know about you but after reading this (unlike you) I would feel that they are kinda biased.[/QUOTE] in 1990 they were that means nothing about now [editline]2nd August 2011[/editline] [url]http://www.wxyz.com/dpp/news/debt-limit-votes%3A-senate-momentum%2C-house-concerns-[/url] hey guys obama signed it
now let's just hope no one involved in this fiasco is ever elected again
[quote]U.S. President Barack Obama signed a deadline-beating debt ceiling bill on Tuesday, averting an unprecedented default on the government's loans that he said would have been "devastating" for the country's economy. Speaking moments before he signed the bill into law, the president called the deal an "important first step" to ensuring the country lives within its means. But Obama also condemned what he called a "manufactured crisis" in Washington over raising the $14-trillion debt ceiling that he said only made things worse for the country's economic recovery. "It was something we could have avoided entirely," Obama told reporters in a terse statement delivered in the Rose Garden of the White House. U.S. Representative Gabrielle Giffords surprises colleagues Monday night by appearing in the House for the first time since being shot in the head in January. House Television/Associated Press Obama said the compromise now requires both parties to work together in the future on a larger plan to cut the deficit for the long-term health of the U.S. economy — a plan that can't rely just on spending cuts. "You'll need a balanced approach where everything is on the table," he said. Part of that balance, the president said, means making some adjustments to protect health-care programs like Medicare and reforming the tax code to ensure the wealthiest Americans and biggest corporations "pay their fair share." His remarks came after the Senate voted 74-26 in favour of the bill, which raises the government's debt ceiling by at least $2.1 trillion and cut federal spending by $2.4 trillion over 10 years. On Sunday, members of the House of Representatives passed the bill, with some liberal Democrats and Tea Party conservative Republicans opposing it. The legislation, backed by Obama, Democratic Senate majority leader Harry Reid and Republican leader Mitch McConnell, comes after a tense week of public sabre-rattling and extensive private negotiations between Democrats and Republicans. The impasse in Washington shook world markets' already flagging confidence in America's credit rating. In an attempt to quell a schism within Republican ranks ahead of the vote, McConnell credited the conservative tea party-backed Republican lawmakers who steadfastly refused to back the deal with having "changed the terms of the debate" and succeeded in pushing their agenda. "The American people sent a wave of new people to Congress in last year's election with a very clear mandate: to put our nation's fiscal house in order," he said. "And I want to assure you today that although you may not see it this way, you've won this debate." The Democrats' Reid, in turn, told the Senate the compromise was "unfair" but necessary to avert "disaster." Reid also hit out at the same conservatives McConnell praised for putting the American economy at risk with their consistent attempts to block a pact. "I welcome the new members, but the result of the tea party direction in this session has been very disconcerting and unfair to the American people," Reid said. Markets drop Despite the deal, global stock markets tumbled Tuesday after data fuelled fears the U.S. might be sliding back into recession. The decline followed the release Monday of a disappointing survey of U.S. manufacturing activity that indicated a slowdown. The debt compromise bill would extend the current $14.3 trillion debt limit by up to $2.1 trillion and cut federal spending by $2.4 trillion, without imposing tax increases — a key Republican demand. The measure would also establish a 12-member House-Senate committee to produce up to $1.5 trillion in additional cuts over a decade. Congress would be required to vote on the panel's recommendations without possibility of changes. But if the panel deadlocks or can't produce at least $1.2 trillion in savings, then spending cuts would take effect across much of the federal budget. The Pentagon, domestic agencies and farm subsidies would be affected, as would payments to doctors and other Medicare providers. Individual benefits under Social Security, Medicaid, Medicare and programs for veterans and federal retirees would be exempt. At the same time, the debt limit would rise by at least another $1.2 trillion and, perhaps — depending on the results of the committee's work — by as much as $1.5 trillion. Some conservatives were upset the spending cuts do not go far enough in some areas, while Liberal Democrats were angered over the domestic spending cuts and lack of tax increases on the wealthy. After a tense weekend of bargaining, Obama and congressional leaders announced the agreement Sunday night.[/quote] [url=http://www.cbc.ca/news/world/story/2011/08/02/debt-deal-vote.html]Source[/url] Thank god for that Whee, info-graphic [img]http://www.cbc.ca/news/infographic/debt-ceiling-deal-460.jpg[/img]
HOLY FUCK DID THEY RAISE IT?
The outcome was very predictable. Are the proposed cuts going to amount to anything? Likely not because you can't bind the next congress. It could make a minute difference, but it's more likely that the money saved is going to be spent on something else.
The democrats caved, didn't see that coming.
[IMG]https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/283853_250498721627642_170080359669479_1019004_1735215_n.jpg[/IMG]
Well, a minor victory for the tea baggers unfortunately. Now Obama needs to go on the offensive before he starts losing left-wing support.
>We all need to tighten our belts and make tough cuts, like I did with my family one time. >OH NOES NOT DEFENSE
I want to puuunch McConnel in the jaw. Who the hell voted for him?
China still wants their money back, regardless.
[QUOTE=MightyMax;31494316]China still wants their money back, regardless.[/QUOTE] Yeah well china can go suck a dick.
[QUOTE=Laferio;31494744]Yeah well china can go suck a dick.[/QUOTE] Till its Americas turn to.
Without raising taxes, it'd be physically impossible to pay back our debt. Removing the Bush tax cuts would give us a surplus of money to pay back our debt with. Anyone against removing the tax cuts is just being childish.
[QUOTE=Communist Cake;31495504]Without raising taxes, it'd be physically impossible to pay back our debt. Removing the Bush tax cuts would give us a surplus of money to pay back our debt with. Anyone against removing the tax cuts is just being childish.[/QUOTE] removing the tax cuts will make it way harder for us to come out of our recession we should be giving more tax cuts, not less
[QUOTE=yawmwen;31495593]removing the tax cuts will make it way harder for us to come out of our recession we should be giving more tax cuts, not less[/QUOTE] You're right, because the "job creators" have been making SO MANY JOBS since the debut the tax cuts and not just sitting on the money, right? More tax cuts would be even worse for the economy. The government NEEDS the money to pay back the debts. Otherwise, the debt ceiling debate will happen again, and again, and again, ad infinitum.
been listening to Amazing Atheist and reading other websites and following this thread. screw it all. I'm democrat now. Republican ideals make no sense at this point... at any point in the past decade+.
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