Economy

[SpiritWarrior]

Originally Posted by Azred Well spoken, sir. I'm getting the popcorn ready and waiting for the impending governmental shutdown--I think it will actually be good for us. It won't be the first time and we never crashed and burned any other time. Seriously, though, the markets are not really reacting to the lack of budget deals because they know that someone at the last minute will blink and that some sort of deal will be signed. Politicians always talk tough but they really don't have the moxie to back up their talk.

Yep, it always happens. A face-off with threats of a shutdown, but at this stage it's like the boy who cried wolf. No-one seems to really care that much anymore.

[Timber Loftis]

Well, if you'll recall Congress balked at the bank bailout initially. Of course, then Geitner, Paulson, and Bush made them go to detention for the weekend and harassed them until they got the money they wanted.

[Azred]

Yes, I do remember that. It was part of what made a bad situation considerably worse.

[Azred]

Well, it's about time--the Tea Party Representatives have realized that they, as a group, have enough votes to block or pass legislation. Specifically, legislation about the impending "default crisis" (even though there really is no crisis).

I have heard talk that some people think the 14th Amendment will give the President the ability to authorize debt. I advise them to go read the text of the 14th Amendment because it clearly does not say this and only the most warped interpretation will jump to that conclusion.

At first, I suspect the Obama figured he had the Republicans where he wanted them--they would have to balk or risk being blamed for the default. Now I realize that he is the one in the difficult position--he may have to direct the Treasury to prioritize payments to satisfy the national debt--required by the Constitution--and then Social Security/Medicare payments and military paychecks (also required by law), meaning that he'll have to close Federal agencies. No matter what happens, there are no positive outcomes and he will get blamed for anything that happens.

[Memnoch]

Originally Posted by Timber Loftis As a result, Republicans are automatically against anything the president wants, even if they have supported similar proposals in the past. Mitt Romney’s health care plan became a tyrannical assault on American freedom when put in place by that man in the White House. And the same logic applies to the proposed debt deals.

And vice versa probably. The curse of partisanship. What this country needs right now is leadership. Obviously the boffins need to come up with a plan to prevent future deficits. But you have to admit, being unable to pay your obligations when you are the richest country in the world and having to require a bailout from the World Bank or European Union or China or something is pretty embarrassing.

[Chewbacca]

Those who fail to compromise are the villains in my book. Call em partisans or whatever the shoe fits. The arrow of the problem points far back while a solutution is as far ahead as we put it. I firmly believe rationale people will prevail despite the the fact some people are just simply acting.

[Azred]

No, the villains are the politicians--all of them, mind you--over the last 20 years who refused to correct and reign in their spending that have helped get us to this point.

The villains now are the ones who think that "more of the same" will somehow solve the problem when it never has before. Any sort of "solution" that arrives now that does not seriously restrict spending will only push the date at which the country actually does default on legitimate debt into the future. At some point, the check must always be paid.

[Chewbacca]

Politicians are one group I am constantly tempted to generalize with a big-old Johnny Cash style middle finger. However without compromise nothing will get get done and good ideas die along with the lessor.

So the politicians who do not engage in this art of problem solving along with their supporters deserve it more than the norm. While both sides of course havine this failing, "No compromise" has nearly become a Republican mantra and is chanted by the Tea Party wing. Hate to point the finger at the obvious...

By approaching every issue from this no compromise perspective it really waters down the effectiveness of the few correct times when perhaps there should be no compromise.

[Azred]

I am no fan of the Republicans--they are half of the reason things are as bad as they are. Remember--Republicans passed the Patriot Act, the most unconstitutional piece of legislation since the War Powers Act.

As I noted, some sort of last-minute compromise will be reached becaues no politician currently in Washington has the guts to stand firm. What will happen, though, is the the real debt battle will get delayed for a while longer.

[Micah Foehammer]

Originally Posted by Chewbacca Politicians are one group I am constantly tempted to generalize with a big-old Johnny Cash style middle finger. However without compromise nothing will get get done and good ideas die along with the lessor.

And here's to all the politicians.

So the politicians who do not engage in this art of problem solving along with their supporters deserve it more than the norm. While both sides of course havine this failing, "No compromise" has nearly become a Republican mantra and is chanted by the Tea Party wing. Hate to point the finger at the obvious... By approaching every issue from this no compromise perspective it really waters down the effectiveness of the few correct times when perhaps there should be no compromise.

It's not just the republicans. It's BOTH parties. Nancy Pelosi has gone on record as saying that spending cuts involving either Social Security or Medicare/Medicaid are "off the table".

The thing that disgusts me about all this is that it is probably nothing more than posturing for the 2012 elections. Each party is trying to create their own set of talking points, instead of actually DOING something to solve this.

Compromise? I don't see EITHER side doing a lot of that.