The Debt Ceiling Approacheth

[Direckshun]

Now that the fiscal cliff has been turned into various cliffs over the entirety of 2013 (should be a fun year, gang...), we can turn our attention the the next one coming up.

In February, we face the sequester cliff, followed shortly by the debt ceiling.

For all intents and purposes, this thread will be used as a repository for both cliffs.

The debt ceiling, of course, has far graver consequences for both the country and the planet. Treasury adopted emergency funding measures about two weeks ago.

[gochiefs_va]

Direkshun, Jesus do you ever actually have any original ideas or do you only ever just post huffington post links.

FFS man think for yourself ince in awhile

[Direckshun]

Originally Posted by gochiefs_va

Direkshun, Jesus do you ever actually have any original ideas or do you only ever just post huffington post links.

I probably start more threads that originate with my own ideas, rather than just linking an article, than anybody else on this forum. Example 1 . Example 2. Example 3. Example 4. Example 5. Example 6. Example 7. Example 8. Example 9.

Shall I continue?

[gochiefs_va]

No don't continue.

Thanks
CP

[RNR]

Originally Posted by gochiefs_va

Direkshun, Jesus do you ever actually have any original ideas or do you only ever just post huffington post links.

FFS man think for yourself ince in awhile

You are playing along with his favorite game. He will fill up the first page with threads related to the same subject. He takes radical stances on these issues knowing it will get reaction from those who hold in some cases radical stances that oppose him. He also draws in those much closer to the middle. He has no desire to find common ground, he just wants to stir the pot. If you are bored try to find a thread started by him that is moderate or a post where he sincerely desires to compromise. This is all nothing more than a game to him~

[Direckshun]

Originally Posted by gochiefs_va

No don't continue.

I accept your apology.

[Direckshun]

I have read today that the White House and the Treasury have rejected the $1 trillion coin strategy.

Rightly, in my opinion.

The White House has also claimed to reject (a.) negotiating over the debt ceiling, and (b.) raising the debt ceiling unilaterally via the 14th amendment.

So, that leaves us at an impasse.

I put the likelihood of a government shutdown at 50%, a White House unilateral move at 45%, and the odds we strike a deal at 5%.

[mlyonsd]

The best thing that could happen for the country is for Obama to cite the 14th Amendment and bypass congress.

With no plan to address our debt and future unavoidable (only because of the dems) crisis the country would at last be forced to see what a buffoon he is.

[go bowe]

Originally Posted by mlyonsd

The best thing that could happen for the country is for Obama to cite the 14th Amendment and bypass congress.

With no plan to address our debt and future unavoidable (only because of the dems) crisis the country would at last be forced to see what a buffoon he is.

we've seen the buffoon for four years, with more than enough effort from the right to point out his buffooness, and despite that the buffoon won...

out of all the suggestions on how the debt ceiling should be handled i like obama's stated intention to refuse to negotiate wrt the ceiling the best...

the whole debt ceiling standoff is a lose/lose situation to me anyway you slice it...

particularly with respect to our economy as well as the global economy...

can't we find enough other things to create artificial deadlines? how 'bout a new fiscal cliff? oh we have one already...

how 'bout the continuing resolution with the threat of govt shutdown? oh, we have that already too...

surely the house republicans could manufacture a few more crises...

[Direckshun]

Originally Posted by go bowe

we've seen the buffoon for four years, with more than enough effort from the right to point out his buffooness, and despite that the buffoon won...

But this time it'll work!

Said every Republican, constantly, for the past four years.

[FD]

Originally Posted by Direckshun

I have read today that the White House and the Treasury have rejected the $1 trillion coin strategy.

Rightly, in my opinion.

The White House has also claimed to reject (a.) negotiating over the debt ceiling, and (b.) raising the debt ceiling unilaterally via the 14th amendment.

So, that leaves us at an impasse.

I put the likelihood of a government shutdown at 50%, a White House unilateral move at 45%, and the odds we strike a deal at 5%.

Failing to raise the debt ceiling wouldn't cause a government shutdown, at least not how we traditionally use that term. It would cause a catastrophic default and massive recession. While most Republicans in the House do seem to find this option acceptable, there is no way Boehner does. In the end, I think he will blink.

[BucEyedPea]

Originally Posted by FD

Failing to raise the debt ceiling wouldn't cause a government shutdown, at least not how we traditionally use that term. It would cause a catastrophic default and massive recession. While most Republicans in the House do seem to find this option acceptable, there is no way Boehner does. In the end, I think he will blink.

We're already in a recession bub. Actually, make that a Depression. But if these got worse, which they may anyway, that's just the correction that is needed. Then we start over again.

[FishingRod]

The hypocrisy on the debt ceiling does run deep and both ways. The Republicans showed little or no concern during the Bush years while a number of the Leading Democrats voted against raising it in 2006. To lower the debt at some point the Government will actually need to spend less than they bring in and that doesn’t seem to be a fact either side will acknowledge.

[Mesa Goat Man]

Bread and Circuses is all the debt ceiling is.

[donkhater]

Originally Posted by FishingRod

The hypocrisy on the debt ceiling does run deep and both ways. The Republicans showed little or no concern during the Bush years while a number of the Leading Democrats voted against raising it in 2006. To lower the debt at some point the Government will actually need to spend less than they bring in and that doesn’t seem to be a fact either side will acknowledge.

It's not just the debt ceiling in which there is rampant hypocrisy, but on virtually every issue.

The hypocrisy is what shields the politcians from making any changes. If criticized, they can't be singled out for not acting. I'm convinced the whole charade is intentional.

[Direckshun]

Originally Posted by FD

Failing to raise the debt ceiling wouldn't cause a government shutdown, at least not how we traditionally use that term. It would cause a catastrophic default and massive recession. While most Republicans in the House do seem to find this option acceptable, there is no way Boehner does. In the end, I think he will blink.

I think Obama and Boehner will blink simultaneously, coming to a small-ball deal so they can say they came to a deal, a la fiscal cliff.

I don't think, however, that they come to this deal prior to hitting the ceiling.

This is going to sound crazy, but the GOP's base is so pissed at them, they basically have to default the country for a day or so to protect their right flanks, to prove they are fighting with Obama, not compromising with him.