I should know better than to post in Goldie political threads, but this helped illuminate the situation for me:



(via The Atlantic article: The Chart That Should Accompany All Discussions of the Debt Ceiling)

your saying if my friend starts slapping a dude, and you then take over his spot and continue slapping the dude, the fault is still all your to your friend?


very misleading graphic and I would not believe it for a second.


The fault is mostly Bush's but having a weak, misguided community activist as President does not help the situation.

Imo The President is in a tough spot, however he made himself as Jesus, so really he raised the expectations and he failed to meet them.

1st with a week left, Obama is being a fool for demanding too much. Just get it F'ing solved, that is the most important thing. Especially that he won't sign a 6 month extension, but wants it to go past the next elections. JUST ANOTHER ONLY WORRYING ABOUT HIS OWN BUTT!

SO OK THE ONE FOR 6 MONTHS AND START WORKING ON IT AGAIN...RATHER THAN PLAYING GAMES! WHICH HAS TO BE UNFORTUNATELY DONE BASED ON THE DEADLINE BEING A WEEK AWAY!

PS. AS I CALLED IT A MONTH AGO!!!!!!!!!!!!!!!

Not really. They own an astonishing...~10% of our debt. I also like how HRC that they advocated twenty years ago became "waste", because the system is currently so efficient. Or that they don't mention Nixon's tariff changes, the single most destructive thing. Or that taxes are at or near historical lows.

See, you guys are all the same. Look at a single point in a essay and declare it invalid, and forgetting all about the Thesis.

The debt may be own marginally be China, however the debt problem is crippling us and will be a massive burden on the future of the US.

The ad goes way overboard, however it points at a message at future place and power of the US. It tells how we have undoubtedly gone on the wrong track and in doing so, will no longer become as powerful as we once where. You can easily disagree on the points on how we got here, but the overall message is valid.

In that way the ad is very effective as it is worrying and sad. 20 years from now, people around the world in University Lecture halls will talk about how the US lost its place of dominance.

Do they know in the United Staates that they will most likely cripple a quite amount of the world economy if they fail to solve the problem. That would be the second time after the housing crash.
Not good for the US image.

You guys who? Look at the rest of the post and I continue to deconstruct it. Not that the US isn't on a point of decline.

First of all China owns 26% of our debt, however they have decided to start reducing their share.


2nd, I said we can all fight over the reasons to how we got to this mess, but the overall message of the ad is right. Its a sad, distressing, uncertain future for the US... We will not starve and we will continue to have many luxuries, but the era of dominance is ending and that is quite a big psychological shock for most Americans.

Seems that someone has found some pocket money under the couch. So one more week to breathe.

Totally.

Do I get that right ?

Boehner and Obama would mange to make a deal if its up only to them but they are hold back by the extreme wings of their parties?

Obama pays little attention to the non-triangulators in his party. The Republican establishment, on the other hand, might be losing control of the golem they created in the Tea Party. I kind of doubt it, because the Teapers are inherently RWAs and tend to vote lockstep, but there's a possible fissure and it may be toxic.

Is Obama still unwilling to accept a quick patch for the short haul, that doesn't push it past the elections, as we are now at the desperation hour????

Megan McArdle, also from The Atlantic, has a good, and adult, response to this chart, which is actually from the White House. http://m.theatlantic.com/business/archive/2011/07/a-few-more-charts-that-should-accompany-all-debt-ceiling-discussions/242790/)

Truthfully, Whatever on all that BS...and like I pointed out to Groucho, 9/11 happened during Bush's 1st Year...so he had to deal with lots of BS!

Anyway, as this has been going on for 6 months....and like I said Obama was so confident during a press conference a month ago! That he refused to take questions on what would happen if a deal didn't happen. As he just said, no Questions on that, We will have a deal, Next question!

So that was pretty stupid of the President!!!!!!!!!!!!



Anyway, as I just heard on the TV, they are still bitching > so here is a simple answer....

if we go into default, we will hurt our image and credit rating, plus all the people who won't get paid.

So f the new taxes and f putting it off past 6 months....

Sign it now with the cuts, and then figure out how to do it right over the next 6 months!!!!!!

The Atlantic article was decent. I agree with its overall main point that cutting is important. It also throws in an interesting part about raising taxes as well. Sort of at least. Problem is the Republicans have dug themselves in the ground over that tax issue. It was the end of Bush Sr's career and I'm sure they're afraid to pull that same move after such a quick rebound.

I still think there will be a solution. Though the theater is just laughable for a so called serious nation.

Well great call by me...as it is pathetic that Obama has left this lapse so far, that the vote will be happening on the deadline date!

Just to be sure we're all on the same page - - everyone agrees that there is absolutely 0% of the government defaulting, right?

It is one of the more obvious cases of political theatrics in recent memory.

Here's the trailer for Ghosts With Shit Jobs - - the story of America in the year 2040.