US Debt Ceiling Debacle Part II

[Jacob]

... so is the whole "raising the debt ceiling" thing coming back? I heard something to that effect. What's going on?

[The Minsky Moment]

Beethoven's 5th

[CountDeMoney]

... so is the whole "raising the debt ceiling" thing coming back? I heard something to that effect. What's going on?

GOP doesn't want to:
1. increase taxes on the wealthy;
2. cut defense spending;
3. see a secular socialist black man succeed in Der Weiss Haus.

In short, business as usual.

[Jacob]

What's the magnitude of this?

Posturing before the election, and that's that? Who postures best?

Or is it more significant?

[MadImmortalMan]

I don't know, but this time I'm going short instead of betting the resolution to it will calm the market. 


Not making that mistake again.

[CountDeMoney]

What's the magnitude of this?

Posturing before the election, and that's that? Who postures best?

Or is it more significant?

It will play right into the GOP's hands for the fall: your average voter doesn't vote on intangible issues like the deficit that don't affect them every day, but they do vote on the perception of government gridlock, and that means blaming the President.  Because that's easy.

Mind you, all I heard from Thurston Romney the 3rd today at his rally in St. Petersburg with the snow birds about the deficit is that he wants to cut taxes, increase defense spending, and not touch Medicaid/Medicare.
The fact that he doesn't offer the number or have a plan for that, other than endorsing the Ryan Budget proposal, well, that won't matter to the voters.

Like I said in the other thread:  Mittens, 5-4, baby.  Buh bye, middle class.

[derspiess]

I don't think it will be as dramatic as last year.  The GOP will agree raise the debt ceiling in exchange for vague promises to "cut" spending somewhere, and the can will be kicked down the road past early November.

[CountDeMoney]

I don't think it will be as dramatic as last year.  The GOP will agree raise the debt ceiling in exchange for vague promises to "cut" spending somewhere, and the can will be kicked down the road past early November.

No, they won't;  Boehner already said as much today.

There will be another debt crisis this summer, just in time to affect the election.  As long as the House Teabaggers stand fast and agree to nothing, they'll shut down the government, affect the economic health of the US, the markets, the bond ratings, and therefore the President.  That's all they want to accomplish, and it will funnel the votes they need their way.  The way they see it, they just have one more summer to hold out as the Protest Party, and the nigger goes.

[KRonn]

I'm sure that our fearless leaders of both parties, with the President's help, will of course get this all sorted out peaceably, amicably and without rancor.   

[Neil]

Maybe the US can turn into some kind of cyberpunk/Shadowrun adventure after Romney wins.  The Republican 'slash government revenues and increase expenditures' platform is even less credible than the Democratic 'close our eyes, put our fingers in our ears and keep saying that there's nothing wrong' plan.

[MadImmortalMan]

I'm sure it will be tons of fun and packed with edge-of-your-seat drama.

[Caliga]

Maybe the US can turn into some kind of cyberpunk/Shadowrun adventure after Romney wins.  The Republican 'slash government revenues and increase expenditures' platform is even less credible than the Democratic 'close our eyes, put our fingers in our ears and keep saying that there's nothing wrong' plan.

LOL can I be an: ork decker!

[jimmy olsen]

What's the magnitude of this?

Posturing before the election, and that's that? Who postures best?

Or is it more significant?

It will play right into the GOP's hands for the fall: your average voter doesn't vote on intangible issues like the deficit that don't affect them every day, but they do vote on the perception of government gridlock, and that means blaming the President.  Because that's easy.

They didn't blame Clinton for gridlock.

[CountDeMoney]

They didn't blame Clinton for gridlock.

That's because Newt and the boys underestimated how much Clinton was adored by so much of the public.
Half this nation hates Obama.

[Zanza]

Doesn't Congress have much lower approval rating than Obama? The people seem to know who is to blame.