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Right Wing Lunatic Fringe Says Default Might Be Good

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  • #16
    So, BB, you think a default would be good? No worries?

    Comment


    • #17
      Originally posted by TonyR View Post
      So, BB, you think a default would be good? No worries?
      And he's not partisan.

      Comment


      • #18
        Originally posted by W*GS View Post
        The right's dream is to let the wealthy and corporate interests **** us and the planet.

        A couple of Kochs right up the chute.
        This is a farty old canard. Corporate interests have a heavy hand in both major US parties. Who is pushing for amnesty? Business and unions in industries purged of Americans now serving illegal alien members for the most part. Ethnic and religious lobbies a far 2nd place.

        Then of course you have a certain political party whose old white blue collar core jumped ship to the GOP in the 80s.
        Last edited by nyuk nyuk; 10-09-2013, 12:31 PM.

        Comment


        • #19
          Moody's credit rating agency raining on Obama's scare parade:

          Moody's offers different view on debt limit

          One of the nation’s top credit-rating agencies says that the U.S. Treasury Department is likely to continue paying interest on the government’s debt even if Congress fails to lift the limit on borrowing next week, preserving the nation’s sterling AAA credit rating.

          In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.

          Not so, Moody’s says in the memo dated Oct. 7.

          ” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

          The memo offers a starkly different view of the consequences of congressional inaction on the debt limit than is held by the White House, many policymakers and other financial analysts. During a press conference at the White House Tuesday, Obama said missing the Oct. 17 deadline would invite “economic chaos.”

          The Moody’s memo goes on to argue that the situation is actually much less serious than in 2011, when the nation last faced a pitched battle over the debt limit.

          “The budget deficit was considerably larger in 2011 than it is currently, so the magnitude of the necessary spending cuts needed after 17 October is lower now than it was then,” the memo says.

          Treasury Department officials did not immediately respond to requests for comment.

          http://www.washingtonpost.com/blogs/...b-327c5c814d82

          Comment


          • #20
            Originally posted by TonyR View Post
            So, BB, you think a default would be good? No worries?
            I don't think it is a good idea but it seems sooner then later that kicking the can down the road is just helping us now but the stability of our nation and true economic stronghold will be gone. The sigh of relief when it is raised is for that instant but the problem continues on when the elected officials take the next breath.

            The lunacy fringe might be those in congress now and those in the past.

            Comment


            • #21
              Originally posted by Taco John View Post
              Moody's credit rating agency raining on Obama's scare parade:

              Moody's offers different view on debt limit

              One of the nation’s top credit-rating agencies says that the U.S. Treasury Department is likely to continue paying interest on the government’s debt even if Congress fails to lift the limit on borrowing next week, preserving the nation’s sterling AAA credit rating.

              In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.

              Not so, Moody’s says in the memo dated Oct. 7.

              ” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

              The memo offers a starkly different view of the consequences of congressional inaction on the debt limit than is held by the White House, many policymakers and other financial analysts. During a press conference at the White House Tuesday, Obama said missing the Oct. 17 deadline would invite “economic chaos.”

              The Moody’s memo goes on to argue that the situation is actually much less serious than in 2011, when the nation last faced a pitched battle over the debt limit.

              “The budget deficit was considerably larger in 2011 than it is currently, so the magnitude of the necessary spending cuts needed after 17 October is lower now than it was then,” the memo says.

              Treasury Department officials did not immediately respond to requests for comment.

              http://www.washingtonpost.com/blogs/...b-327c5c814d82
              I guess the question is: why in the hell should dems concede to anything if defaulting isn't a big deal? obviously,rethugs think its a big deal,there strategy was to use it to extract concessions from the president.

              Comment


              • #22
                Originally posted by peacepipe View Post
                I guess the question is: why in the hell should dems concede to anything if defaulting isn't a big deal? obviously,rethugs think its a big deal,there strategy was to use it to extract concessions from the president.
                How is it that concessions are only a good thing if they come from the GOP and thuggery if the other way around?!

                Comment


                • #23
                  Originally posted by nyuk nyuk View Post
                  How is it that concessions are only a good thing if they come from the GOP and thuggery if the other way around?!
                  thuggery is using extortion(as rethugs are doing)to get what you want. in a normal,as it should be,negotiation there can be concessions if both partys are in fair talks.

                  Comment


                  • #24
                    You can't make this shet up

                    Kochs to Congress: Focus on spending, not Obamacare

                    In a move that highlights a growing rift in conservative ranks, Koch Industries -- the privately held energy conglomerate owned by billionaires Charles and David Koch -- today distanced the firm from allied political groups lobbying to keep the government shut down unless Obamacare is defunded

                    A letter, signed by the company's chief lobbyist and sent to members of Congress, says that Koch Industries has taken no position on the shutdown dispute in Congress "nor have we lobbied on legislative provisions defending Obamacare."

                    Instead, Koch Industries wants Congress to focus on "balancing the budget" and "cutting government spending," among other goals, said Philip Ellender, Koch Industries president for government and public affairs.

                    The letter comes in the wake of media reports documenting how Freedom Partners -- a newly formed conservative trade association closely associated with the Koch brothers -- has helped finance many of the conservative and Tea Party groups that have been pressuring Republicans to link defunding Obamacare to the passage of a continuing resolution to fund the government and extend the debt ceiling.


                    It was also spurred by a floor speech by Senate Majority Leader Harry Reid on Tuesday that blamed the Koch brothers for the government shutdown. The Kochs "have been raising and spending hundreds of millions of dollars to get us to where we are right now," Reid said.

                    Over the past year, Freedom Partners -- whose board members include three current and former Koch employees -- has doled out over $235 million, including grants to Heritage Action for America, Americans for Prosperity, Tea Party Patriots, State Tea Party Express and other groups that have been pushing to defund the Affordable Care Act.
                    But privately, Koch officials have expressed concern to lawmakers that the prospect of a government default over the Obamacare issue would be a "disaster" for the economy, according to one GOP consultant who recently discussed the matter with Koch officials and asked for anonymity. Koch Industries associates note that the firm is widely diversified, including last month's $7.2 billion purchase of a company that makes connectors for Apple iPhones and other consumer products -- one of many markets that could be effected by spikes in credit resulting from a government default.

                    http://nbcpolitics.nbcnews.com/_news...acare#comments

                    Comment


                    • #25
                      Wow. Yeah debt, efficiency, accountability, Printing 85 Billion a month to try and keep our economy afloat doesn't matter.

                      At some point you will FEEL what I see coming.

                      Comment


                      • #26
                        Hold the Vote Boner!

                        Votes are there to break shutdown, but not the will
                        Posted by
                        CNN's Dan Merica
                        Updated 10/9/2013 at 8:00 a.m.

                        Washington (CNN) – There appeared to be enough votes in the House on Wednesday to approve legislation to reopen the federal government, according to an ongoing CNN survey of House members.

                        CNN's vote count

                        All 200 Democrats and 19 Republicans support passing a continuing resolution with no additional legislative strings attached that would reopen the federal government, which has been partially closed for a week over a bitter policy dispute between Republicans and Democrats on health care. With three vacancies in 435 member House, 217 votes are currently the minimum needed for the measure to win approval in the House.

                        http://politicalticker.blogs.cnn.com...ill/?hpt=hp_t2

                        Comment


                        • #27

                          Comment


                          • #28
                            Sounds like the GOP to me...

                            18 USC § 2384 - Seditious conspiracy
                            If two or more persons in any State or Territory, or in any place subject to the jurisdiction of the United States, conspire to overthrow, put down, or to destroy by force the Government of the United States, or to levy war against them, or to oppose by force the authority thereof, or by force to prevent, hinder, or delay the execution of any law of the United States, or by force to seize, take, or possess any property of the United States contrary to the authority thereof, they shall each be fined under this title or imprisoned not more than twenty years, or both.

                            Comment


                            • #29
                              Originally posted by Taco John View Post
                              Moody's credit rating agency raining on Obama's scare parade:

                              Moody's offers different view on debt limit

                              One of the nation’s top credit-rating agencies says that the U.S. Treasury Department is likely to continue paying interest on the government’s debt even if Congress fails to lift the limit on borrowing next week, preserving the nation’s sterling AAA credit rating.

                              In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.

                              Not so, Moody’s says in the memo dated Oct. 7.

                              ” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

                              The memo offers a starkly different view of the consequences of congressional inaction on the debt limit than is held by the White House, many policymakers and other financial analysts. During a press conference at the White House Tuesday, Obama said missing the Oct. 17 deadline would invite “economic chaos.”

                              The Moody’s memo goes on to argue that the situation is actually much less serious than in 2011, when the nation last faced a pitched battle over the debt limit.

                              “The budget deficit was considerably larger in 2011 than it is currently, so the magnitude of the necessary spending cuts needed after 17 October is lower now than it was then,” the memo says.

                              Treasury Department officials did not immediately respond to requests for comment.

                              http://www.washingtonpost.com/blogs/...b-327c5c814d82
                              I would like to point out it is analyst opinion and thus is not set in stone. The underlying assumptions are key to this type of "reports"

                              Comment


                              • #30
                                Originally posted by DenverBrit View Post
                                Bingo!

                                Ever wonder why the Tea Party would worry about going after the EPA? You won't wonder after you find out that the Koch Bros. are in the Top Ten Worst Polluters List of America every single year.

                                Comment

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