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So we hit the debt limit...

Started by MadImmortalMan, May 17, 2011, 01:18:23 PM

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mongers

I think slash and burn would be more appropriate description.
"We have it in our power to begin the world over again"

Admiral Yi

According to a CNN poll 61% of Americans are in favor of a balanced budget amendment.

I wonder if that's the same people who are in favor of reducing the deficit, against touching Social Security, Medicare, or the military.  :lol:

The Minsky Moment

Quote from: MadImmortalMan on July 18, 2011, 02:39:19 PM
Well, the gauntlet will be thrown tomorrow.

Quote
Leader Cantor Statement in Support of Cut, Cap and Balance

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the White House's veto threat against the Cut, Cap and Balance Act:

"Tomorrow, the House will vote on Cut, Cap and Balance, a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment   . . . 

Someone please tell me he is kidding.
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
--Joan Robinson

mongers

Quote from: The Minsky Moment on July 18, 2011, 05:51:51 PM
Quote from: MadImmortalMan on July 18, 2011, 02:39:19 PM
Well, the gauntlet will be thrown tomorrow.

Quote
Leader Cantor Statement in Support of Cut, Cap and Balance

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the White House's veto threat against the Cut, Cap and Balance Act:

"Tomorrow, the House will vote on Cut, Cap and Balance, a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment   . . . 

Someone please tell me he is kidding.

How does it feel to find out you live in an asylum ?   :P

edit:
well at least in a society, some of whose leaders should be in an asylum ?
"We have it in our power to begin the world over again"

Razgovory

Quote from: Admiral Yi on July 18, 2011, 05:43:45 PM
According to a CNN poll 61% of Americans are in favor of a balanced budget amendment.

I wonder if that's the same people who are in favor of reducing the deficit, against touching Social Security, Medicare, or the military.  :lol:

Probably.  People like slogans like "Balance the budget!", but when you get down in the details they become less enthusiastic.

I wonder if the "Balanced budget amendment" is going to be the "preserve marriage amendment" of 2012.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

MadImmortalMan

Quote from: The Minsky Moment on July 18, 2011, 05:51:51 PM

Someone please tell me he is kidding.

It's been part of the bargaining baseline for some time. You didn't notice?
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

Neil

But if they don't get their federal cheques, there'll be he'll to pay.
I do not hate you, nor do I love you, but you are made out of atoms which I can use for something else.

MadImmortalMan

Quote from: Neil on July 18, 2011, 06:16:14 PM
But if they don't get their federal cheques, there'll be he'll to pay.

If they don't come to some arrangement, there sure as hell better not be any congressmen getting paid.
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

CountDeMoney

Quote...with the necessary safeguards to make sure that we don't continue to kick the can down the road.

:lol: But you kicked it down the road 7 times between 2000 and 2008;  only back then it was called "housekeeping".


grumbler

Quote from: CountDeMoney on July 18, 2011, 06:41:18 PM
Tim Russert with Catkiller Frist, 2006.

Veddy interestink.

http://www.bing.com/videos/watch/video/tax-cuts-and-the-debt-ceiling/6r099vn?cpkey=e10461f7-89e1-415c-aa58-80d1b6f8066e|||
No surprises there.  When the republicans had the White House, the principled stand was for increases in the debt ceiling.  When the Democrats have it, the principled stand is against increases in the debt ceiling.  The principle in the Republicans' principled stands is expediency.
The future is all around us, waiting, in moments of transition, to be born in moments of revelation. No one knows the shape of that future or where it will take us. We know only that it is always born in pain.   -G'Kar

Bayraktar!

Razgovory

What's surprising is people still buy it.
I've given it serious thought. I must scorn the ways of my family, and seek a Japanese woman to yield me my progeny. He shall live in the lands of the east, and be well tutored in his sacred trust to weave the best traditions of Japan and the Sacred South together, until such time as he (or, indeed his house, which will periodically require infusion of both Southern and Japanese bloodlines of note) can deliver to the South it's independence, either in this world or in space.  -Lettow April of 2011

Raz is right. -MadImmortalMan March of 2017

jimmy olsen

Quote from: mongers on July 18, 2011, 05:56:57 PM
Quote from: The Minsky Moment on July 18, 2011, 05:51:51 PM
Quote from: MadImmortalMan on July 18, 2011, 02:39:19 PM
Well, the gauntlet will be thrown tomorrow.

Quote
Leader Cantor Statement in Support of Cut, Cap and Balance

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the White House's veto threat against the Cut, Cap and Balance Act:

"Tomorrow, the House will vote on Cut, Cap and Balance, a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment   . . . 

Someone please tell me he is kidding.

How does it feel to find out you live in an asylum ?   :P


Minsky lives in New York, not South Carolina.
It is far better for the truth to tear my flesh to pieces, then for my soul to wander through darkness in eternal damnation.

Jet: So what kind of woman is she? What's Julia like?
Faye: Ordinary. The kind of beautiful, dangerous ordinary that you just can't leave alone.
Jet: I see.
Faye: Like an angel from the underworld. Or a devil from Paradise.
--------------------------------------------
1 Karma Chameleon point

DontSayBanana

Quote from: jimmy olsen on July 19, 2011, 12:44:04 AM
Minsky lives in New York, not South Carolina.

Just means it makes national news less often.  Could be because we expect wackiness from NY politics.  I get regular jaw-droppers from my dad and stepmom in Albany.
Experience bij!

MadImmortalMan

House voting today.


Gallup

I like the name of the link. Americans, including Republicans. lol








So apparently, we're afraid they won't cut enough, we want compromise and we're a bunch of cynical bastards with no faith in our elected leaders to get it done.
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers