BEST PRESIDANT EVAR!!!111

8/8/2011 2:36:58 PM

This was a good thread until you attached it to the President.

8/8/2011 2:37:43 PM

The President is a figure head at this point, nothing more. The guy is completely oblivious and in over his head. Blame this on decades upon decades of irresponsible representatives, nearly all of which passed the buck whenever possible.

8/8/2011 2:44:42 PM

chit chat that way >>>>

8/8/2011 2:51:53 PM

8/8/2011 2:56:01 PM

Quote :

"The President is a figure head at this point, nothing more. The guy is completely oblivious and in over his head. Blame this on decades upon decades of irresponsible representatives, nearly all of which passed the buck whenever possible."

I agree with this, I mean the president isn't a hardcore economist.

8/8/2011 5:14:40 PM

So it's awesome that he listens to the economists.

8/8/2011 5:37:53 PM

You are only as good as the people you surround yourself with.

And President Obama has surrounded himself with finance people who are incompetent.

On the other hand, he purposely surrounded himself with those that told him what he wanted to hear.

So it's pretty easy to draw the conclusion that Obama is incompetent as well. (On top of being delusional and an outright fraud)

8/9/2011 1:40:47 AM

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

Quote :

"Rationale We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process."

Quote :

"The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options."

Quote :

"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act."

8/9/2011 2:39:19 AM

You don't solve a debt problem by finding new ways to fund your continued overspending. Until we agree upon a spending cap, rather than a decreased rae of budget growth there is no point in discussing revenue.

8/9/2011 6:24:43 AM

Quote :

"You don't solve a debt problem by finding new ways to fund your continued overspending"

when your revenue to gdp rate is at a 50 year low it should at least be part of the equation.

8/9/2011 7:37:38 AM

The revenue system is broken

tax reform to a more efficient system that taxes wealth would handily solve the problem and reduce the tax burden on 99% of Americans.

8/9/2011 9:39:33 AM

Can we have this conversation in a thread that didn't start out as blatant tolling?

8/9/2011 9:42:35 AM

no b/c it's a good start.

8/9/2011 10:12:36 AM

I honestly heard a woman call in to NPR yesterday and say that the president has no responsibility for leading. none. zero. Her EXACT. FUCKING. WORDS. and yes, she sounded black.

Quote :

"when your revenue to gdp rate is at a 50 year low it should at least be part of the equation."

Well, considering that we are in a massive recession, it only makes SENSE that revenues would be low. It also makes sense that raising them is not going to be easy. So, you do a little of that, coupled with spending cuts. You know, ending your overspending, like the man said.

8/9/2011 11:33:46 AM

the government trying to outsmart rich people is laughable.

elimination of loopholes through simplification is the only way.

8/9/2011 11:42:39 AM

But without tax loopholes, how will the central planners organize society? People won't know what to do! We need qualified leadersbureaucrats to tell us exactly what economic behavior is good and what economic behavior is bad. If you simply the tax code, that's gone. It'd be chaos, bro.

[Edited on August 9, 2011 at 12:15 PM. Reason : ]

8/9/2011 12:14:08 PM

tribal leaders are going to form one way or the other and take all the gold

8/9/2011 12:32:30 PM

HOW LOW CAN WE GO!

3/12/2020 11:02:36 AM