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Old 10-08-2013, 08:22 PM  
AustinChief AustinChief is offline
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For those claiming it is the GOP to blame for a possible default...

Explain to me why the DEMOCRATS under Reid refused to pass the Full Faith and Credit Act which was passed by the House. And why Obama threatened to veto it if it got to him?

You all seem to whine and cry that we should ALWAYS pay our debts. Well that law makes certain that in a situation like this... we always do.

You can read it here
http://www.gpo.gov/fdsys/pkg/BILLS-1...113hr807rh.pdf

Pretty simple. If we breach our credit limit we (BY LAW) must pay debts first thereby ensuring we NEVER default.

Let's hear your spin on this one.
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Old 10-08-2013, 10:11 PM   #16
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Quote:
Originally Posted by Direckshun View Post
Institutions that do not prioritize debt payments, which this Orwellian-named bill wants to do, have higher credit ratings than institutions that do prioritize debt payments.

This bill is a patch that doesn't fix the problem of debt ceilings, and it makes us weaker in the long run.
Please don't be stupid or flat out lie. No one here is dumb enough to buy this. It doesn't prioritize debt. It makes payments on ALL PUBLIC DEBT.. and SS. What you are calling "debt" is a lie.

Your assertion that its a patch is also dead wrong. It is only a "patch" because you see the debt ceiling as a problem. The DEBT CEILING IS NOT A PROBLEM. Spending more than we earn is the ****ing problem.

The fact that you see the debt ceiling as a problem shows how ridiculous your way of thinking is.
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Old 10-08-2013, 10:13 PM   #17
cosmo20002 cosmo20002 is offline
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Originally Posted by AustinChief View Post
Ah, so your answer is... instead of fiscal responsibility, we can always pay our debts by just borrowing MORE AND MORE! Cuz you know, there's a neverending supply of free moneys and our interest payments will never reach an unsustainable point!

Damn that is about the dumbest shit I have heard from you in a while.

So you have admitted in this post that the reason Obama/Reid won't sign it is so that they can THREATEN default to get their way with spending. BUT BUT I thought we weren't ever supposed to play politics with DEFAULT!!!


You've pretty much ben crushed on this one. Sadly it doesn't matter since the GOP will never effectively get this message out.
Yeah, but the dumbest shit you hear from me is still smarter than 99% of the posts on here.

Give me a break with putting "playing politics" on the Ds. Congress authorized the spending, now pay the ****ing bill. It's not that complicated, and never was until now.
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Old 10-08-2013, 10:15 PM   #18
Direckshun Direckshun is offline
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Quote:
Originally Posted by AustinChief View Post
Please don't be stupid or flat out lie. No one here is dumb enough to buy this. It doesn't prioritize debt. It makes payments on ALL PUBLIC DEBT.. and SS. What you are calling "debt" is a lie.
Nope.

It forces the government to rank its obligations, and pay its highest obligations first.

That's prioritizing.

And having to prioritize what you owe lowers your credit rating. Which can and will send economic shockwaves across the global economy.
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Old 10-08-2013, 10:17 PM   #19
cosmo20002 cosmo20002 is offline
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Quote:
Originally Posted by AustinChief View Post
Please don't be stupid or flat out lie. No one here is dumb enough to buy this. It doesn't prioritize debt. It makes payments on ALL PUBLIC DEBT.. and SS. What you are calling "debt" is a lie.

Your assertion that its a patch is also dead wrong. It is only a "patch" because you see the debt ceiling as a problem. The DEBT CEILING IS NOT A PROBLEM. Spending more than we earn is the ****ing problem.

The fact that you see the debt ceiling as a problem shows how ridiculous your way of thinking is.
This is the difference between reading the bill and understanding it. And understanding how it would be carried out.
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Old 10-08-2013, 10:20 PM   #20
Direckshun Direckshun is offline
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Or, really, understanding how financing works.
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Old 10-08-2013, 10:20 PM   #21
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Originally Posted by FD View Post
I don't know why they oppose this particular bill. Maybe they have said.

But you say Obama is threatening a default to get a continuation of the status quo. I am sitting here trying to wrap my head around that one but I'm not sure I get it. Why does he need the thread of a cataclysmic default to get something he's already got?

And what do you mean "blank check"? You keep saying it. Congress isn't ceding its authority to set the level of spending, revenue, or debt by raising the debt ceiling, not even close. Both houses of Congress have also agreed on the level of spending, there is no fight over that. I still don't understand why Obama needs to make this threat if he isn't asking for anything.
Sorry but what the **** are you talking about?

The House and Senate have NOT agreed on upcoming levels of spending that is the entire problem. Where do you get the fantastic notion that there is no fight over that. That is a large portion of the fight we are in. You do know the budget process is supposed to be a YEARLY thing right?

The threat of default is to get more credit to maintain current spending levels. The House doesn't want that or if they give that up they at least want a concession elsewhere (ie Obamacare).
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Old 10-08-2013, 10:26 PM   #22
AustinChief AustinChief is offline
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Quote:
Originally Posted by Direckshun View Post
Nope.

It forces the government to rank its obligations, and pay its highest obligations first.

That's prioritizing.

And having to prioritize what you owe lowers your credit rating. Which can and will send economic shockwaves across the global economy.
It's funny watching you THINK you know what you're talking about here.

Prioritizing amongst your DEBT and not paying portions of your DEBT will affect your credit rating. Paying all of your DEBT will not. This bill assures we pay ALL of our debt. If you think THAT is going to affect our bond ratings negatively then you are clueless about how the ratings work.
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Old 10-08-2013, 10:26 PM   #23
cosmo20002 cosmo20002 is offline
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The Administration strongly opposes H.R. 807, which would result in the Congress refusing to pay obligations it has already agreed to. American families do not get to choose which bills to pay and which ones not to pay, and the United States Congress cannot either without putting the Nation into default for the first time in its history. This bill would threaten the full faith and credit of the United States, cost American jobs, hurt businesses of all sizes, and do damage to the economy. It would cause the Nation to default on payments for Medicare, veterans, national security, and many other critical priorities. This legislation is unwise, unworkable, and unacceptably risky. Earlier this year, the Congress took a sensible approach to paying the bills it had already incurred by raising the debt limit. By contrast, the proposal in H.R. 807, which chooses which bills to pay, is a deeply irresponsible approach that is simply default by another name.
Here's the administration's statement on this.
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Old 10-08-2013, 10:27 PM   #24
AustinChief AustinChief is offline
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Originally Posted by Direckshun View Post
Or, really, understanding how financing works.
As was pointed out. You really are clueless. You think we will get a downgrade on our bond ratings because we pass a law guaranteeing that we ALWAYS pay our bond interest?

Man you are gonna have to sell that shit elsewhere.
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Old 10-08-2013, 10:29 PM   #25
LiveSteam LiveSteam is offline
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Old 10-08-2013, 10:32 PM   #26
Direckshun Direckshun is offline
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Quote:
Originally Posted by AustinChief View Post
This bill assures we pay ALL of our debt.
It says we will pay all of our obligations... eventually.

Which is something that institutions with lower credit ratings do.
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Old 10-08-2013, 10:33 PM   #27
Direckshun Direckshun is offline
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Originally Posted by AustinChief View Post
As was pointed out. You really are clueless.
The lines between arguing with you and my girlfriend when I was 16 are really starting to blur.
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Old 10-08-2013, 10:34 PM   #28
cosmo20002 cosmo20002 is offline
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Originally Posted by LiveSteam View Post
Watching AC have a brain aneurism trying to defend the irresponsible Rs is no way to get your entertainment.
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Old 10-08-2013, 10:35 PM   #29
Direckshun Direckshun is offline
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Originally Posted by cosmo20002 View Post
Watching AC have a brain aneurism trying to defend the irresponsible Rs is no way to get your entertainment.
I beg to differ.

AC's shitfits are a thing to behold.
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Old 10-08-2013, 10:36 PM   #30
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Quote:
Originally Posted by cosmo20002 View Post
Here's the administration's statement on this.
ahh the old definition of "default" bait and switch.

#1 A DEFAULT is simple. It is when we don't pay the interest on public debt. Using the term to apply to other govt outlays is a crap political tactic meant to obscure the issue.

#2 it would not CAUSE a lack of payment on anything. Spending more than we earn would be the cause.

#3 The President claims that this bill which simply guarantees we never default... would somehow CAUSE the Congress to never agree to pay anything else. Basically this is a flat out admission that he is using the THREAT of default to scare the public and bully the House to get what he wants. He is also admitting that he has no intention (or ability) to negotiate and reach a compromise on budgetary matters.

All this boils down to is this. The rhetoric about never playing politics with default was disingenuous. If they were serious about default never being used to negotiate than why oppose a bill that takes default permanently off the table? It's obvious what's going on, I just like pointing out how your shock and indignation towards the GOP looks pretty silly in light of all the facts.
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