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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (105359)	5/25/2011 10:43:19 AM
From: JakeStraw	3 Recommendations Respond to of 224777

Isn't it amazing how a debt limit is even needed... Oh well I guess it goes hand-in-hand when you have a socialist as president...

To: Kenneth E. Phillipps who wrote (105359)	5/25/2011 11:16:11 AM
From: JakeStraw	2 Recommendations Respond to of 224777

The Dems' 'breathtaking' refusal to pass a budget washingtonexaminer.com The most amazing thing about all this, to Republicans, is that Reid’s abdication of responsibility has attracted so little attention. In a country drowning in debt, where’s the outrage?

To: Kenneth E. Phillipps who wrote (105359)	5/25/2011 7:05:07 PM
From: tonto	5 Recommendations Read Replies (1) \| Respond to of 224777

I remember yeas ago when you posted articles concerned with the debt...of course that was before Obama blew it apart with lots of new debt... To: tonto who wrote (48367) 9/23/2008 6:46:46 AM From: Kenneth E. Phillipps Read Replies (3) of 105397 The Treasury's potential use of all $700 billion to purchase impaired assets would raise the country's DEBT to more than 70 percent of GDP. The last time American taxpayers owed as much was in 1954, when the nation was still paying down costs incurred during World War II. The government reaching the requested DEBT LIMIT would entail every man, woman and child in the U.S. owing more than $37,000 each. The median U.S. income last year was $50,233. bloomberg.com

To: Kenneth E. Phillipps who wrote (105359)	5/25/2011 7:11:21 PM
From: tonto	2 Recommendations Respond to of 224777

Republican introduces bill, will vote against it (AFP) – 1 day ago WASHINGTON — Republican Representative Dave Camp introduced legislation Tuesday to raise the US debt ceiling, but he plans to vote against it because he also wants the bill to include drastic budget cuts. "Let me be clear: I do not support and will not vote for a debt limit increase that does not contain significant spending cuts and budgetary reforms. Our current path is unsustainable and unacceptable," said the Michigan lawmaker. "We must force Washington to live within its means, and any deal on the debt limit should include real reforms." Camp told fellow lawmakers that his measure "will allow the House to reject a clean increase in the debt limit proving to the American people, the financial markets and the Administration that we (Republicans) are serious about tackling our debt and deficit problems." His stance echoes what his Republican colleagues have been saying for weeks: that the debt ceiling should not be raised unless it comes with major spending cuts. Republicans want to hold a "test vote" to highlight the House's support for raising the debt ceiling without making major spending cuts. Democrats reject the Republican viewpoint and their calls for slashing Medicare, health insurance for the elderly. Negotiations on the issue have broken down. Harry Reid, the Democratic Senate majority leader, told reporters the bill "sends a terrible message to the international community." "They're bringing up something that they know is going to fail; that's what I'm told," he added. "How does that help what we're trying to do?" Sander Levin, the highest ranking Democrat on the committee led by Camp, blasted the bill as "a dangerous political stunt." "Brinkmanship with our economy and our nation's obligations is highly irresponsible," Levin argued. "We should set a framework for immediate and long-term deficit reduction, but not by ending Medicare and doubling seniors? health care costs, as Republicans have advocated. "And not by threatening a default that numerous economists and CEOs have warned would have calamitous consequences and jeopardize our economic recovery," he added. The current debt ceiling set by Congress is $14.294 trillion.