WhoWee
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turbo-1 said:Good question. I'd like to follow that.
I was following a company called NanoSolar for a while - haven't heard much lately?
turbo-1 said:Good question. I'd like to follow that.
WhoWee said:http://www.newsmax.com/Headline/obama-debt-talks-600/2011/06/27/id/401645?s=al&promo_code=C849-1
"Obama Pushes $600 Billion in New Taxes in Debt Talks"
Cutting corporate loopholes and eliminating oil subsidies might sound good to the Left - but are they serious solutions?
This statement has been repeated often by the left, and this forum, but is not true. What is true is that the Treasury Secretary has threatened to default on debt payments unless the debt ceiling is raised as a leverage ploy against congress. Big difference.Ryumast3r said:Then we either default on our payments or have a government shut-down resulting in thousands of more jobs lost.
Ryumast3r said:I'd say they're every bit as valid as refusing to raise the debt limit, which is getting pretty close to the deadline of... August 3rd was it? Then we either default on our payments or have a government shut-down resulting in thousands of more jobs lost.
Al68 said:This statement has been repeated often by the left, and this forum, but is not true. What is true is that the Treasury Secretary has threatened to default on debt payments unless the debt ceiling is raised as a leverage ploy against congress. Big difference.
It's simply false that debt default is a direct consequence of not raising the debt limit. Unlike what the left would have us believe, it's absurd to think that congress somehow is obligated to authorize the government to go further into debt, while Obama is not obligated to honor existing debt obligations. Like many claims of the left, the exact opposite is true.
Al68 said:This statement has been repeated often by the left, and this forum, but is not true. What is true is that the Treasury Secretary has threatened to default on debt payments unless the debt ceiling is raised as a leverage ploy against congress. Big difference.
It's simply false that debt default is a direct consequence of not raising the debt limit. Unlike what the left would have us believe, it's absurd to think that congress somehow is obligated to authorize the government to go further into debt, while Obama is not obligated to honor existing debt obligations. Like many claims of the left, the exact opposite is true.
Vanadium 50 said:A third option would be to sell assets. For example, the US government still owns $13B in General Motors. It could operate for 3 more days on that.
I agree that defaulting is dumb, but the threats of the Treasury Secretary are not his own. Any power he exercises is delegated to him by the President, and the President is responsible for all executive branch actions.Ryumast3r said:I'm not talking about the Treasury Secretary, his threats are his own (and frankly, defaulting is dumb - but it'd work... besides, as you said, it's all about leverage).
Yes, I agree those are the options, but limiting spending to current revenues is a long, long way from a "government shutdown". It's just a balanced budget.But what happens when the debt limit is finally reached, and we have no other money-moving options like what we're currently doing? You either default on a payment, or you shut down the government so you know longer have to pay employees, thus getting a little extra revenue, and then you continue to pay the debts - or the wonderful third option which is printing out money like crazy, devaluing the dollar, and just saying "Here you go!"
I never said debt default is, there are two realistic options (That I'm aware of, please feel free to point out a valid third one, because I would love expanding my knowledge bank). Default, or shut down services to save money.
Which is why I think the Ryan budget is too big on the spending side. It's pretty indicative of the massive shift of the U.S. "left-right" spectrum that a budget far to the left (according to the numbers) of any budget in history, that grows government even bigger by 30% over 10 years (in inflation adjusted dollars) is referred to as "extreme right". I know such characterizations are just fraudulent manipulation attempts, but that one's pretty bizarre.Even with Ryan's plan (the most extreme one in terms of cost-cutting) the government would still have to raise the debt limit in order to not default/shut down services and keep paying the bills over the next two years.
Neither are obligated, or authorized, to "keep this country running." As far as keeping the federal government itself operating, that cost is a miniscule fraction of the federal budget.Congress is obligated, as is the president, to keep this country running.
Not odd at all, considering that congress has already appropriated the money to honor the debt Obama is threatening to default on.And saying Obama is obligated to honor existing debt is an odd way of putting it, since Congress (not the senate, or the president) is the one with the purse.
Al68 said:Not odd at all, considering that congress has already appropriated the money to honor the debt Obama is threatening to default on.
The issue is that congress has also already appropriated the money for all the other stuff Obama wants to spend money on instead, resulting in the choice being the President's alone if the debt limit isn't increased. The President is purposely putting the "full faith and credit" of the U.S. on top of the chopping block, precisely because it's the most disastrous choice, and therefore gives him the most leverage over Republicans, if they believe his threat. It's not like a threat to not fund Obamacare or the EPA could be used as blackmail against the GOP. My personal opinion is that it's a bluff and the President would not default on the debt.
But it is the fault of congress that the President has so much discretion in the matter, which is why I favor a law requiring the prioritization of debt service.
mheslep said:Ownership of GM is tiny fraction of the enormous assets of the US federal government which include, for instance, nearly a third of all US land area. Though there would be much gnashing of teeth, the federal government could cease to collect any income tax revenues and finance the current $3.8T/year spending rate for at least a year, if not several by selling off assets. Selling off the strategic petroleum reserve alone (four billion barrels) would run the entire show for a month.
You have things a bit skewed. Congress passes spending bills and appropriates the money. If you want to blame all the spending on Obama, you have some 'splainin' to do, Lucy.WhoWee said:Can you imagine if President Obama proposed to sell all of the non-defense assets of the US - to continue deficit spending?
turbo-1 said:You have things a bit skewed. Congress passes spending bills and appropriates the money. If you want to blame all the spending on Obama, you have some 'splainin' to do, Lucy.![]()
I can't stop blaming the Democrats in Congress for rolling over and playing dead when Bush/Cheney lied us into an unnecessary war, then started another in that quagmire Afghanistan and let them keep the costs off-budget. There's more than enough blame to go around on those counts, and neither party can claim the high ground, IMO.Vanadium 50 said:Does this mean that you will stop blaming Mr. Bush for the budgets passed when he was in the White House?
turbo-1 said:You have things a bit skewed. Congress passes spending bills and appropriates the money. If you want to blame all the spending on Obama, you have some 'splainin' to do, Lucy.We were running deficits and spending off-budget long before Obama took office.
WhoWee said:Did anyone else notice the price of gas jumped about $.25 per gallon again - just paid $3.69 for 87 - hope just our annual 4th of July gouging (IMO).
WhoWee said:President Obama - what IS your energy policy?
http://www.newsmax.com/InsideCover/...l/2011/07/02/id/402295?s=al&promo_code=C8BF-1
"The Obama administration is foot-dragging on approving a pipeline to deliver abundant Canadian oil to the United States at the same time the Chinese are investing in a pipeline that could send that oil to China."
Did anyone else notice the price of gas jumped about $.25 per gallon again - just paid $3.69 for 87 - hope just our annual 4th of July gouging (IMO).
http://www.msnbc.msn.com/id/29258276/ns/us_news-environment/t/obamas-sticky-issue-canada-oil-sands/... What we know is that oil sands creates a big carbon footprint. So the dilemma that Canada faces, the United States faces, and China and the entire world faces is how do we obtain the energy that we need to grow our economies in a way that is not rapidly accelerating climate change," Obama told the Canadian Broadcasting Corp. on Tuesday.
Canadian Prime Minister Stephen Harper has said energy security and the environmental impact of massive oil sands operations in Alberta province will be priorities during his meeting with Obama. Harper is expected to lobby Obama on the merits of the oil sands as a safe and secure source of oil.
But critics say the growing operations by major oil companies will increase greenhouse gas emissions and threaten Alberta's rivers and forests. Experts say producing a barrel of oil from sand results in emissions three times greater than a conventional barrel of oil...
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/obama-signals-new-reliance-on-oil-sands/article1963575/...In a speech at Georgetown University on Wednesday, Mr. Obama also promised to work with Congress to provide new incentives to increase natural gas consumption in both the transportation and power sectors. That is good news for North American gas producers who face depressed prices due to a glut of production from prolific new shale gas plays...
Ivan Seeking said:From 2009
http://www.msnbc.msn.com/id/29258276/ns/us_news-environment/t/obamas-sticky-issue-canada-oil-sands/
Maybe he would prefer to focus on creating jobs for Americans by keeping to domestic supplies of relatively clean natural gas. Perhaps he is looking forwards, rather than backwards. We don't need to end just our reliance on oil from the ME or unfriendly nations, we need to stop importing oil. Transitioning to a domestic energy supply will eliminate about [over] half of the trade deficit.
3/30/11
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/obama-signals-new-reliance-on-oil-sands/article1963575/
Soon you'll be able to respond that this (pensions and pensioners medical care) is *all* the government spends their money on, that and the debt service.WhoWee said:...
I asked a few pension-recipients what they thought today - they said the Government better stop spending their money (label IMO).
WhoWee said:President Obama made a prime time speech on 7/25/11 regarding the national debt and need to increase the debt ceiling - followed by a response by Speaker of the House John Boehner.
After failing to reach a deal with the Speaker in the previous week, I'm not the only one who noticed he didn't threaten to VETO the Bill that comes out of Congress - now that Boehner and Senate leader Harry Reid are negotiating.
http://news.yahoo.com/blogs/exclusi...er-debt-crisis-obama-stays-mum-043411132.html
"Washington may have become, as President Obama said on Monday, a place where "compromise has become a dirty word," but in the context of the menacing debt-limit crisis there was a far dirtier word he didn't utter.
Veto."
IMO - The Speaker missed an opportunity - should have looked into the camera, lowered his voice , and explained that Congress has no intention of allowing default - that a Bill will be placed on the President's desk in time to avoid default - and if the President Veto's the Bill - the financial collapse of the US Government will be the fault of President Obama.
Btw - while the President didn't say "veto" - he did use the word "balance" about 7 times - pollsters must have made a recommendation?
WhoWee said:President Obama made a prime time speech on 7/25/11 regarding the national debt and need to increase the debt ceiling - followed by a response by Speaker of the House John Boehner.
After failing to reach a deal with the Speaker in the previous week, I'm not the only one who noticed he didn't threaten to VETO the Bill that comes out of Congress - now that Boehner and Senate leader Harry Reid are negotiating.
http://news.yahoo.com/blogs/exclusi...er-debt-crisis-obama-stays-mum-043411132.html
"Washington may have become, as President Obama said on Monday, a place where "compromise has become a dirty word," but in the context of the menacing debt-limit crisis there was a far dirtier word he didn't utter.
Veto."
IMO - The Speaker missed an opportunity - should have looked into the camera, lowered his voice , and explained that Congress has no intention of allowing default - that a Bill will be placed on the President's desk in time to avoid default - and if the President Veto's the Bill - the financial collapse of the US Government will be the fault of President Obama.
Btw - while the President didn't say "veto" - he did use the word "balance" about 7 times - pollsters must have made a recommendation?
WhoWee said:IMO - The Speaker missed an opportunity - should have looked into the camera, lowered his voice , and explained that Congress has no intention of allowing default - that a Bill will be placed on the President's desk in time to avoid default - and if the President Veto's the Bill - the financial collapse of the US Government will be the fault of President Obama.
Btw - while the President didn't say "veto" - he did use the word "balance" about 7 times - pollsters must have made a recommendation?
Char. Limit said:Or maybe he has no plans to veto the bill. Obama knows, I think, what's political suicide, and I think he'll avoid it.
Char. Limit said:Or maybe he has no plans to veto the bill. Obama knows, I think, what's political suicide, and I think he'll avoid it.
WhoWee said:Leaders lead - we don't need any more scare tactics or bluffs.
BobG said:Or maybe he knows there's almost no chance of a bill being placed on his desk for him to veto. I don't think Boehner's close to a point where he could deliver on a promise to place a bill on the President's desk. Even if he gets a bill House Republicans could support, it will get gutted in the Senate - and then back to the House - and then back to the Senate, etc.
You've got a problem in the House. It's almost turned into a three party legislative body with no party having a majority.
BobG said:You've got a problem in the House. It's almost turned into a three party legislative body with no party having a majority.
mege said:Isn't this something that people have been asking for, for years? Another major political party? :p
mege said:Isn't this something that people have been asking for, for years? Another major political party? :p
Char. Limit said:We'd like a major political party that knows the meaning of "you can't always get what you want".
daveb said:Maybe they're thinking that if you try sometimes, you just might find, you get what you need
BobG said:We'll see what happens with this key moment - the debt ceiling increase. Obama really hasn't had any adequate response to this and I think it puts him in the same situation Clinton was in his first term. Either Obama turns the corner and gets better very quickly, or he "stays the course" no matter how far down it drags him, or he just wallows the way Jimmy Carter wallowed, with the events of his time just pushing him about.
Or House Republicans bail him out of this crisis by looking even worse than him - but I don't think that's the same as making Obama look good. I think he needs to make some serious adjustments regardless of what Republicans do with this.
WhoWee said:I watched Laura Ingraham, a Conservative, last evening - guest host on the "Factor". She cited several Conservatives and a few Tea Party Reps that want to take a deal while they are ahead. Her comment (to the Tea Party House members) was to take the win and go back home to explain the results. She specified by electing the small group progress was possible - if voters want bigger change - elect more Conservatives. That approach could help redeem the Republicans - but not necessarily hurt the President.
BobG said:Wow! I haven't actually listened to Laura Ingraham in years, so I don't know what her position has been lately, but if my general impression of her is still correct, wouldn't you think the Tea Party folks would at least have a clue they might be overplaying their hand just a bit?
WhoWee said:The Republicans have clearly mismanaged their momentum after the 2010 election. Hopefully the freshman House members will step back and look at the bigger picture.
mege said:I agree with this to a certain extent. The perception of mismanagement is being exploited by the Democrats (and the President) whom are putting them in positions specifically to fail politically. While many of the TEA Party members have great ideas and heart, they're bad politicians.
Char. Limit said:I think it's better to say that they're NOT politicians, which ironically enough is the exact reason they got elected in the first place.
WhoWee said:I think it's a good thing - to send people who are not career politicians. However, there is a learning curve and voters must also understand gradual change is still change.