Author Topic: Obama's opening "fiscal cliff" bid seeks debt limit hike, stimulus  (Read 608 times)

Online walkstall

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Wow the bull is out of the gate now for four more years of spending.

The Obama administration's opening bid on Thursday in negotiations to avert a year-end fiscal crunch included a demand for new stimulus spending and authority to unilaterally raise the U.S. borrowing ceiling, a Republican congressional aide said.

Obama's negotiators also sought the ability to raise the nation's borrowing limit unilaterally. Currently, Congress must approve an increase in the debt ceiling, and it was an impasse over that issue that brought the country perilously close to default in 2011.

The administration's proposal would put off across-the-board spending cuts for a year.

more @
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Offline rocca

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Re: Obama's opening "fiscal cliff" bid seeks debt limit hike, stimulus
« Reply #1 on: November 30, 2012, 05:48:22 AM »
Well the majority did vote for status quo and more of the same, so here it comes.....

If it was up to the dems, there will never be a budget cut, because the more people get on welfare or stimulus or etc., the bigger their chance of re-election will be. So if all they're concerned about is getting re-elected, who cares if the country went down the crapper as long as they get to stay in office.

Didn't Geithner recently say we should lift the debt ceiling to unlimited?
"Obama is either an idiot or he’s purposely trying to destroy the American economy." - Vladimir Putin, Russian Prime Minister

Offline JustKari

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Re: Obama's opening "fiscal cliff" bid seeks debt limit hike, stimulus
« Reply #2 on: November 30, 2012, 07:41:34 AM »
So we are going to spend ourselves out of our fiscal mess?

My husband and I had the unfortunate need for bankruptcy quite a few years ago, we didn't have a whole lot to lose, but made some poor decisions that, after going through that, we will never make again.  The couple that was ahead of us in bankruptcy court was newly married, barely out of their teens, and had many times the debt we had.  In fact, they had done roughly the same thing our givernmet is doing.  A month before court, they purchased a huge "work" truck, a 3000 square foot 4 bedroom 2 bath "office", and thousands of dollars worth of undisclosed "business materials".  The judge ripped them a new one, denied the claim, and told them to come back when they were serious.  I was terrified to be up next, frankly.  Point is, you can't rescue a failing budget by spending more money, you can't save your grocery by giving away free cheese, it just doesn't work.

Darth Fife

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Re: Obama's opening "fiscal cliff" bid seeks debt limit hike, stimulus
« Reply #3 on: November 30, 2012, 08:43:06 AM »
Actually, I think doing away with the debt ceiling might be a good idea.

Look at it this way. Since the Republicans control the House (where all spending must originate as per the Constitution) every time the debt ceiling gets raised, if any question about excessive spending comes up, the Democrats and Obama can always say, "its the Republican's fault, they raised the Debt Ceiling!".

However, if there is no debt ceiling, 1) The Democrats can't use the threat of a government shut down as a bargaining chip to get their pet projects passed, 2) The Democrats will be forced to "own" the deficit!

Finally, I think Boehner is passing up a golden opportunity (no surprise there!). Obama is going to get his Millionaire's tax, but why don't we force him to make the Bush Tax rates for the so-called Middle Class permanent as a condition of Obama getting his Millionaire's Tax?



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