Boehner says debt limit should be part of talks

House Speaker John Boehner insisted on Friday that any deal with President Barack Obama to avert the so-called fiscal cliff must include lower tax rates, eliminating special interest loopholes and reining in government-benefit programs.
Associated Press
Nov 10, 2012

"2013 should be the year we begin to solve our debt through tax reform and entitlement reform," Boehner said.

Boehner and Obama have taken the initial steps in high-stakes negotiations over how to deal with expiring Bush-era tax cuts and automatic spending cuts to defense and domestic programs that economists warn could plunge the nation into another recession.

Boehner, Obama and Senate leaders face a Jan. 2 deadline to reach an agreement or at least come up with a framework to deal with the issue early next year.

Boehner expressed a degree of optimism about resolving the issues and ensuring that his sometimes reluctant GOP rank and file will back any deal.

"When the president and I have come to an agreement, there's been no problem getting it passed in the House," Boehner said.

The speaker declined to discuss specifics on deficit targets or what tax loopholes to eliminate though he cited both corporate and individual.

"I don't want to box myself in. I don't want to box anyone else in," he said.

Boehner indicated that increasing the nation's borrowing authority, which was a divisive issue in August 2011 talks, should be part of any talks in the coming weeks on avoiding the fiscal cliff. The government has said the nation won't reach the debt limit until the spring.

"It's an issue that's going to have to be addressed, sooner rather than later," he said.

Boehner said he had a brief, cordial conversation with Obama earlier in the week and reiterated that the president needs to lead on the negotiations.

Democrats have resisted including entitlement programs such as Medicare and Social Security in any deficit-cutting deal. Senate Majority Leader Harry Reid, D-Nev., said earlier this week they were unwilling to make changes in Social Security.

Boehner insisted that the programs need to be on the table.

"It's not like there is money in Social Security and Medicare" trust fund, Boehner said. "This has to be dealt with."

The Ohio Republican, reflecting the sentiment of his caucus, said increasing the maximum 35 percent tax rate on high-income earners cannot be part of the deal. Boehner did signal that he was open to eliminating loopholes.

"The problem with raising tax rates on wealthy Americans is that more than half of them are small business owners," Boehner said. "Raising tax rates will slow down our ability to create the jobs that everyone says they want."

The Republican leader acknowledged that his party faces several roadblocks after Obama won a second term and the GOP lost seats in both the House and the Senate.

"It's clear that as a political party we've got some work to do," he said.

Republicans fared poorly with Hispanic voters. The fastest growing minority group went heavily for Democrats, backing Obama by more than 70 percent. Boehner signaled a willingness to tackle immigration legislation next year.

"What I'm talking about is a common sense, step-by-step approach, would secure our borders, allow us to enforce the laws, and fix a broken immigration system," he said. "But again on an issue this big, the president has to lead."

 

Comments

Randy_Marsh

@Contango
Exactly, One assumption is just as good as another. Some turn to religion as a day to day belief Others to science. A balance can be attained if the religion does not squash their ability to question and find answers and visa versa. All beliefs are and should be personal decisions that can and should be discussed in a polite and easy manner, Arguing with a belief is foolhardy at best and will accomplish nothing.
Back to the string theory, Some scientist will swear it is a viable theory and work tirelessly to prove it, It is a belief they strive to prove. The religious have no need of proof beyond what they see with their own eyes and since everyone sees things different there is no need to debate the beliefs, Nothing will change.
Sorry for the paragraph coffee is kicking in and im really uncomfortable discussing religion.

Contango

@ Randy_Marsh:

IMO, it's really debating metaphysics and epistemology - not religion.

The question to me is: How does one “know” what one claims to know?

Socrates said: I know nothing.

The Bible is a mishmash of contradictory beliefs; one can attempt to validate a position by quoting a certain passage.

Randy_Marsh

@Contango
You and I agree, We know nothing. I cannot or will not defend any certain dogma, But i can defend my right to assume a unknown because as a species we truly know nothing. Metaphysics is just as interesting to me as science.

John Harville

If my belief in an afterlife is wrong, I'll never know.
If your belief there is no afterlife is wrong... you definitely WILL know.

I like my odds better.

Don't let religion get in the way of or impede faith.

shucks

john

Ive got a good idea of how they are going to respond.

Wait for it, wait for it.

Contango

@ 4shizzle:

Be sure to tell your imaginary friends I said "Hi," the next time you conjure them up in your mind.

shucks

@ con
My invisible friends know who you are.

Randy_Marsh

@John
"I like my odds better" Yes that would be correct,You in your belief have better odds. Your belief is just that, Yours. The problem with discussing dogma's is it never leads to a concensious, Just hurt feelings and usually a argument. With that said, I'm out. Believe what you will, Your beliefs are one of the only things that are truly yours.
Please do not get me wrong. I cannot nor will not defend a religion or dogma But i will defend your right to believe it.

John Harville

Isn't that "don't let religion get in the way of faith"?
I didn't say my odds are better. I said I LIKE them better.
If there is nothing, I will know nothing. On the chance (and my own experiences) there is 'something', I plan to be in the warmth of The Light than in the heat of 'The Pit'.
Godspeed!

shucks

randy
If you tell me where you are coming from, ie. denomination, thought , faith, system, I promise not to be an obnoxious jerk.

Randy_Marsh

@4shizzle
Please excuse my dodging of the answer to this question. Beliefs and dogma discussions on a public forum not intended for that make me extremely uncomfortable. Rest assured that i do have a belief system and never mean anything to offend those who believe otherwise.

shucks

Interesting but,ok

Contango

@ John Harville:

A limited choice fallacy.

the office cat

Wow. How did a discussion about the boner get off on religion and an afterlife? And Contango... I'm confused by your phallusy statement. explain please?

shucks

@ cat

You've got to go back a few pages.
Blogging Gone Wild.

Randy_Marsh

@John
As i said, You are correct according to your own belief's. Others beliefs may vary as is their right to believe as well.
Good luck to you!

John Harville

Thanks! I greatly enjoyed my moment in The Light and though I'm in no rush, I welcome my return there. The heat and light of 10,000 suns that neither burn nor blind.

John Harville

All of you are soooooooooooooo funny! Is the moon full? Sean Hannity is in favor of the Dream Act and a Pathway to Citizenship. Bill Kristol says increasing taxes wouldn't be a bad idea. Ben Stein says the government is going to have to increase taxes to get out of this mess. Eric Cantor knew about the Petraeus affair in OCTOBER but didn't say anything. Now we can't trust STRAIGHTS in the Military to keep it in their pants. Texans - and 17 others want to secede. The Kochs and Adelson and others want their $300 million back since all it accomplished was 'asset redistribution'. @Contango and @Marsh are discussing religion and the afterlife/not. We'll know the earth has spun off its axis when The Donald gets a haircut...

shucks

Ironic, aint it?

Randy_Marsh

Wouldnt a strong breeze give trump a haircut?

shucks

randy,
A little teeny tiny hint?

Randy_Marsh

4shizzle
Beliefs are personal,I believe in tolerance of other beliefs whatever they may be to the point where my own personal beliefs are irrevelant to the discussion in order to avoid conflicts and ugly scenes and arguments.

shucks

Randy,
Maybe your belief is the one I need. Would you deny a drowning man a life-saver if you had one?

Does your belief have a name? New Age,Buddhism, or something you made up?

Unless you've used your real name in this comment blog,you have anonymity. If you didn't, and you're afraid someone would recognize you on the street---well,that's unfortunate.

Randy_Marsh

4shizzle
While i would never deny another a life preserver, I could not justify giving the man a boat. Beliefs are built by that person alone,Just as those born in Rome probably are Catholic those born in Mecca are Islamic. It is our ability to look beyond taught dogma's that are dependent apon others and places of birth to build a belief system that will sustain us through our tough times and questions that are unanswered by listening and not dictating.

shucks

randy,

That was a very disappointing, high sounding response.
Your belief system seems unable to give any hope or comfort , whatever it is, and something I wont pursue you about any longer.

Randy_Marsh

4shizzle
I did not mean to be offensive at all. True beliefs no matter what it is comforts those who believe in it, There is no one size fits all.Beliefs arent learned they are made.

the office cat

pleeeeeez. You expect us to belief you don't care whether the president is Muslim or Christian? Pleeeeeeeeeeeeez!

the office cat

uhnooooo. If we could post photos I could prove it. No, it's his... but even if not, a strong wind would not be Trump CHOOSING a buzz.

shucks

randy,

Belief in anything is ok just as long as it makes you feel good?
If it feels good, do it philosophy.

Ok, I got my hint.
Thanks

Randy_Marsh

4Shizzle
Im sorry i cannot help you.More of the answers you are seeking type thing, Not all the answers feel good but they do answer the questions which does confort me in a way.

the office cat

huh?

shucks

@cat
Does it feel like you came into the middle of a movie?

goofus

I believe I'll have another cocktail!!!

coasterfan

An excellent editorial from wannabe Republican strategist Eric Garland, as to why the GOP lost the election. He is a well-to-do, middle-aged white man - essentially, the very type of person the GOP tries to attract, yet they managed to alienate even him. A must read:

http://www.ericgarland.co/2012/1...

Contango

@ coasterfan:

Mr. Ted Cruz, the U.S. Senate Repub candidate and TEA Party favorite won big in TX.

Potential 2016 Repub POTUS candidate?

The man is a champion debater; no need for a teleprompter!

Libertarianism IS the "third way."

The hollowness and deceit of the socialist lie is on full display in Europe with high unemployment, fiscal failures, austerity protests and general strikes.

The useful idiots would do best to enjoy Mr. Obama's pyrrhic victory.

Where will the Dems find another good lookin' minority "empty suit" for 2016?

Recall the old German saying: Fool me once shame on you, fool me twice shame on me.

http://www.newyorker.com/reporti...

John Harville

Mr. Third Party is getting less than 1% - no Libertarian convention..

shucks

@ contango

George Bush has eloquently said it better.

http://youtu.be/8Ux3DKxxFoM

Contango

@ 4shizzle:

Pres. Bush is old news.

How about that man-crush on Jesus?

shucks

@ contango

Wonderful!!! Would you like to get to know Him ?

Contango

@ 4shizzle:

Did Jesus die for the Klingons? You're govt. paid to know:

http://video.cnbc.com/gallery/?v...

Talk about mixing mythologies. LOL

shucks

@ contango

What government do you belong to?

"Forward Soviet"?

Klingons don't get a break.

Contango

@ 4shizzle:

Wasn't Pres. Obama's campaign slogan "Forward"?

"Forward Soviet!" was a popular saying in the USSR.

Isn't State centralized planning good?

So God didn't die on Earth for the sins of Klingons?

shucks

.@ con

"Forward Soviet!" was a pretty popular saying of yours, wasn't it? So it's not real clear if you are an American.

Don't you think it's a little silly to entertain the idea of Klingons?

coasterfan

The GOP just lost the election in a smack-down, in which they lost the electoral vote by a landslide of more than 100. Their candidate lost every single one of the nearly dozen swing states he needed to win, and the popular vote by more than 3 million.

So, it matters not if Republicans wish to deny that Obama won in a landslide, and whether or not the vote was a "mandate" for Obama's tax plan. What IS clear is that there definitely is NOT any mandate for the Republican point of view, because they LOST the election. As losers, they don't get to call the shots in the upcoming budget debate. Obama campaigned on a platform of raising taxes for the wealthy, and a clear majority, by voting for him, voted in favor of that plan.

John Harville

"Obamacare is the law of the land." - John Boehner

Contango

@ coasterfan:

No mandate. 50% of the electorate voted for someone else other than Mr. Obama.

Repubs lost simply due to the Dems practicing old-fashioned "get out the vote" Chicago machine-style politics.

The corruption of the stench of a Tammany Hall is alive and well and was rolled out nationally.

The Dems got the useful idiots to the polls with the propaganda that Mr. Obama was Santa Claus and Mr. Romney was the Grinch.

Who in the h*ll is EG and why would anyone other than an Obama cult of personality sychophant care what he thinks?

"Well-to-do"? It ain't what you make, it's what you keep.

And the kleptocrats in DC want more and more and more in order to buy votes with "cash and prizes" for the useful idiots. It is unsustainable.

John Harville

51-49 is the current figure. And that's not of the electorate... only of the people voting.
Your man Gary Johnson is now falling below 1% so won't get a convention.

Tammany Hall? That was NY. Chicago was Daley.

Paul Ryan said GOP lost because they underestimated the 'urban turnout'. Guess the GOP just didn't get the suppression thing worked out.

Contango

@ John Harville:

Talkin' Ted Cruz' libertarian bent.

Where'd ya get the idea that the Libertarian Party doesn't have conventions?

Tammany Hall's stench was little different from Chicago's machine politics.

Who cares what Rep. Ryan said.

John Harville

65% of the Electoral College IS A MANDATE. 8 of 9 BATTLEGROUND states IS A MANDATE. 55-45 in the Senate IS A MANDATE. Gaining 5 seats in the House IS A MANDATE.
And how is GOTV 'Chicago-style'?
@Coasterfan... they just can't face that they LOST and that the losses for next year empower them for this year.

Randy_Marsh

So let me get this straight, The popular went 50/ 49 and the electoral went 65% and you expect it to be a mandate from the masses? Thats a little dumb if you ask anyone. Guess you yelled it was a mandate as well for Bush?

John Harville

Randy. uh no. Bush didn't get the popular but he did win the Supreme Court in 2000. In 2004 he declared his own mandate and put together a coalition that included women and latinos and swiftboaters. Of course his Congress still overwhelmingly was old white men until 2006.
Congress has changed its complexion in the New Year - record numbers of women, people of color, other minorities, and other 'persuasions' - and the old white men in elephant suits are running scared. All that's left is personal attacks. The simple solution seems to be to let their states secede - which removes them from Congress, reinflates the treasury since the government no longer will be taking care of their roads and bridges, their defense, their tired, their poor... "I wish I was in the land of teabags..."

Contango

@ John Harville:

If Mr. Gore woulda carried his home state of TN, the FL results woulda been immaterial.

Mr. Lincoln’s War helped to settle the issue of secession.

KURTje

Right coasterfan. Really felt his #3 statement spoke volumes. imo. selfish childish actions/attitudes. They are out of touch.

Contango

*

John Harville

@con... at least you admit you are posting a 'rumor'.
And you all were worried about the homosexuals in the military keeping it in their pants.
Do we really have a military that prosecutes adultery?

John Harville

@since the military prosecutes adultery, is McCain in danger. He was still 'in' when he began his 'relationship' with his present wife while still married to his first wife.

goofus

There is a definite problem in Coasterfan's diatribe blabble!
This is America, we believe that even skidrow bums deserve a second chance, let alone Obozo. Why all the talk and petitions of secession by various states? We have a democracy, no amount of victory should halt the opinions of the other side. Frankly coaster and his minions scare the bejesus out of me, but then again I'm heavily armed and old so who cares.

John Harville

'Succession'. If you're gonna talk about it or sign petitions for it, at least know how to spell 'SECESSION'.

The Big Dog's back

goof, nobody ever denied that 21% of the country is racist. But 21% doesn't cut it. It's called a MINORITY!

KURTje

Right......heavily armed. Next you'll want to challenge my Marine Corps. "Go ahead - make my day."

Randy_Marsh

We'll That escalated quickly.

goofus

Challenge the Marine Corps? Heavens no, we might need them for South Carolina has a secession petition circulating.
John I hope the grammar lesson was an immediate response and a more rational refudiation shall be forth coming!!!!

John Harville

Goof. Do you mean 'reFudiation' Sarah Palin-style?
Or the more common 'rePudiation' most literate Americans use? ie "rejecting or disowning or disclaiming as invalid".
Succession is an act of ascending as to the throne - or the presidency. Elizabeth I signed an Act of Succession naming her cousin King James VI of Scotland as King James I of Britain, Scotland and Ireland.
South Carolina passed an "Act of Secession" thereby leaving the United States before firing on Fort Sumter.
Texas citizens have presented the necessary 25,000 signatures to the White House which has 30 days to respond. Gov. Rick Perry and others are opposed - but he could end up as President of the Republic of Texas - Revisited. But the President can withhold sECession until Texas pays its federal debts.
As for a reFudiation? I just can't put it in Palinish.

Contango

@ John Harville:

Yea, yea, yea, we all know what he meant.

The Dems are the party of economically ignorant and life's losers who know how to vote for cash and prizes - for which the rich liberal elites are grateful.

Where are those Cape Cod low income housing projects?

This country was built on debt. Mr. Hamilton encouraged the colonies to join in return for having their war debt financed by the national govt.

Secession ain't gonna happen. Fugitaboutit.

goofus

Just wondering if you are a grammar teacher, it seems really important to you. LOL the country is approaching disaster and you worry about grammatical context. Must be a bot thing, harrass and demean.

mikel

Updated 2:44 p.m. ET - "President Barack Obama claimed a broad mandate for his vision on taxes at his first news conference since being re-elected, demanding that his negotiations with Congress yield a specific plan that results in a higher tax burden for the wealthiest Americans."

yes, please tell us just what programs YOU PLAN to eliminate or reduce spending to! even the simplist of minds knows that you can raise taxes all you want but if you don't cut anything you gain nothing.

The Big Dog's back

332 to 206. MANDATE!

goofus

Hey, Obozo won the election, what are the Barry Bots still doing here? Wondering, are Rahm's army gonna hang around to defend Barry's sins and transgressions?

John Harville

Hey. Romnuts LOST. Why are they still hangin' around? Oh... Ohio is getting signatures to secede too - then the Romnuts will be inconsequential.

goofus

Like all good leftists, he will cut defense spending and the military, but not his domestic issues.

Contango

Reads like Mr. Obama is intent on doubling down on taxes and closing loopholes to the tune of $1.6T.

Today, the Market reacted accordingly down 185 pts.

The Market has declined 5% since the election. Investors are voting with their dollars.

I think this is gonna get ugly; took some profits off the table and shifted some of it into more (GLD) yesterday.

I wouldn't rule out an economic recession next yr.

The Big Dog's back

Bonkers I tell ya. Bonkers!

The Big Dog's back

Voting with their dollars? Repubs spent $4.35 per vote more than the Dems did and still LOST!

Randy_Marsh

Hows your 401k dog? I would say the voters and anyone else is showing thier true feeling getting out of the market while they can. Get your barrel ready, I have a feeling you would enjoy going over the cliff.

Contango

Oops.

It's being reported that the Federal Housing Authority (FHA) is almost broke and may have to ask for a govt. bailout.

Guess that those sub-prime loans that they've been makin' are starting to catch up with them.

And hasn't the Admin. been tellin' us that housing is improving????

Mr. Obama had better lower the bar for rich again and tax 'em! When will $50K be the new $250K?

http://online.wsj.com/article/SB...

coasterfan

Romney lost single women by 38 points, lost BOTH of his home states, and - get this - earned less of the Mormon vote than George W.Bush. It seems that the more people knew Mitt, the less they wanted him to be president.

Contango

The fact is: It's hard to compete against Barack "Santa Claus" Obama with his goody bag of cash and prizes financed with printed and borrowed money.

KURTje

All the Ed Bassmaster types can leave my country. That would be great to get rid of cranky oldsters on SSI. It is a hoot to read from all the criers here. Please don't stop! Later today my friends & I can laugh more at break time. Please.....keep this up! AaHaha. Always worry about self only - that's the American way.

goofus

The Department of Labor has announced that new jobless claims rose by a staggering 78,000 in the first week after the election, reaching a seasonally-adjusted total of 439,000. Over the past year, and in the weeks leading up to the election, jobless claims were said to be declining, dipping as low as 339,000, with the media proclaiming that they had reached the "lowest level in more than four years." Now, suddenly, the news seems far less rosy.

From the Department of Labor press release this morning:

In the week ending November 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week's revised figure of 361,000. The 4-week moving average was 383,750, an increase of 11,750 from the previous week's revised average of 372,000.

Some of the new claims, especially in New Jersey, were due to Hurricane Sandy--but these were offset by a decline in claims filed in New York. The highest numbers of new filings came from Pennsylvania and Ohio, where there were thousands of layoffs in the construction, manufacturing, and automobile industries.

Both states had been targeted by the presidential campaigns. President Obama highlighted his record of job creation in Ohio in particular, focusing on the automobile industry. The state reported 6,450 new jobless claims in the week after the election--second-highest after Pennsylvania, which recorded 7,766 new claims.

John Harville

Buckle Up on the Republican Bus over the cliff. All the cuts won't be implemented instantaneously and the country can be saved by the President and the multifaceted Congress while the Republicants try to filibuster themselves out of existence. Oh... but now there are enough BOTvotes to change the Cloture Rule - and the new Dems may just force the Republicants to actually filibuster. Happy Days are here again!

Randy_Marsh

So the guy who signed the bill that caused the fiscal cliff is now the one to save us? Did i get that right? Thanks thats the dumbest things i have read today.

Contango

@ John Harville:

"Saved" how?

The U.S. is facing a fifth yr. of $1T deficits. Taxin' the rich ain't gonna do it.

Mr. Obama's job's plan? How many of those over inflated $250K "shovel ready jobs" can this country afford?

Remember the first "stimulus": "Shovel ready wasn't as...uh shovel ready as we thought." What a card!

goofus

Hey Sandusky Register, just noticed wierdos can put their responses any where they want. Hmmmm just like it took seconds instead of days to formulate a response

goofus
OSUBuckeye59

My $0.02 worth on the impending fiscal cliff . . . the POTUS, House and Senate will not be able to reach an agreement before the end of the year, when the Budget Control Act of 2011 is set to kick in: the end of last year’s temporary payroll tax cuts (resulting in a 2% tax increase for workers), the end of certain tax breaks for businesses, shifts in the alternative minimum tax that would take a larger bite, the end of the tax cuts from 2001-2003, and the beginning of taxes related to the Affordable Care Act. At the same time, the spending cuts everybody (POTUS, House & Senate) agreed upon as part of the debt ceiling deal of 2011 will begin to go into effect. According to Barron's, over 1,000 government programs - including the defense budget and Medicare are in line for "deep, automatic cuts."

There are at least 3 options our "leaders" could pursue:
#1) Let the current policy scheduled for the beginning of 2013 – which features a number of tax increases and spending cuts that are expected to weigh heavily on growth and possibly drive the economy back into a recession – go into effect. The plus side: the deficit, as a percentage of GDP, would be cut in half.
#2) Cancel some or all of the scheduled tax increases and spending cuts, which would add to the deficit and increase the odds that the United States could face a crisis similar to that which is occurring in Europe. The flip side of this, of course, is that the United States' debt will continue to grow.
#3) Take a middle course, opting for an approach that would address the budget issues to a limited extent, but that would have a more modest impact on growth.

The non-partisan Congressional Budget Office (CBO) estimates that if they take the middle ground – extending the Bush-era tax cuts but cancelling the automatic spending cuts – the result, in the short term, would be modest growth but no major economic hit. If the current laws slated for 2013 go into effect, the impact on the economy "could" be dramatic. While the combination of higher taxes and spending cuts would reduce the deficit by an estimated $560 billion, the CBO estimates that the policies set to go into effect would cut gross domestic product (GDP) by four percentage points in 2013, sending the economy into a recession. At the same time, it predicts unemployment would rise by almost a full percentage point, with a loss of about two million jobs. A Wall St. Journal article from May 16, 2012 estimated the following impact in dollar terms: “In all, according to an analysis by J.P. Morgan economist Michael Feroli, $280 billion would be pulled out of the economy by the sunsetting of the Bush tax cuts; $125 million from the expiration of the Obama payroll-tax holiday; $40 million from the expiration of emergency unemployment benefits; and $98 billion from Budget Control Act spending cuts. In all, the tax increases and spending cuts make up about 3.5% of GDP, with the Bush tax cuts making up about half of that, according to the J.P. Morgan report.” And we're already seeing the effects on the economy as a result of the unknown future: households and businesses, more so businesses, have begun changing their spending in anticipation of the changes. On the business side, unemployment is rising and will continue to rise. Businesses are laying off employees now to have them "off the books" come the New Year. And "Black Friday" sales next week will give a good indication of consumer confidence.

My guess is after the first of the year when Obama and the new Congress are sworn in, they'll all agree on a compromise package, making it retroactive to January 1. And both major parties will then derive their 2014 mid-term election "talking points" from what each felt America (translation: their party plank) lost out on in the compromise. Right now we're watching the positioning leading up to the 2014 mid-term elections.

The American population our federally-elected officials supposedly serve? We're merely pawns in a federal pi$$ing contest. And I'm tired of Obama, Boehner, Reid and the rest pi$$ing on my feet, telling me it's raining.

Randy_Marsh

John had it right in one respect, They created a situation that a "Savior" can swoop in give them all free phones and prizes and "Save" them. There is no long term fix as long as the spendaholics are voted in. The fiscal cliff is only a sign to come, When the banks will no longer buy bonds and monetarize the debt any longer then the real cliff starts and we get to see how great the keynsian ideal is. My bet is less than 4 years.

OSUBuckeye59

@Randy_March,

To be fair, there are plenty of spendaholics on both sides of the aisle. That's how they get elected & then re-elected, by promising and delivering "pork" to their home state. As far as our government bonds, we're still considered one of the safest bets to buy into. Sure, we need to reduce our debt and curb spending. And just as we've survived for 236 years, we'll certainly survive the next 4 years...and beyond. It's not going to be pretty, or at least I hope Obama has a big enough pair to make it not pretty as we need compromises to be made by both major parties.

Randy_Marsh

@OSU
We can blame both partys for it. The thing is they created it and are now our saviors? Next year when we are sitting in another recession and they lower our credit rating once again that should just about do it for our currency,Just the interest on the debt will become the largest expenditure the government has by 2020. http://money.cnn.com/2011/02/02/...
There is no savior, We are being sold into debt by these idiots.

OSUBuckeye59

@Randy,

I think we agree. And I don't believe any of them are saviors. When I voted this year, for me it truly was a vote of best of the worst. I really didn't believe either Romney or Obama deserved to be nominated. And I'm not impressed by most of our federally elected officials . . . both sides of the aisle. Just as publicly-traded companies are accountable to their majority shareholders, so, too, our federally-elected officials seem only to be accountable to their corporate donors, lobbyists and party.

Randy_Marsh

@OSU
I did not vote for either as my vote should not be construed as a "Mandate" for either party to spend more and continue their march into war and debt. Until people wake up and vote them out it will continue, But most are to politically divided they actually think their party is going to save them.

Pages