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President Obama Urges Both Dems And GOP To Compromise, Avoid Credit Downgrade

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» 159 comments

In a speech delivered just earlier today President Obama warned that without serious compromise by both Democrats and Republicans, the U.S. will lose its top-credit rating it if falls into a credit default. It was the second debt-crisis related speech that Obama has delivered today, and comes the day after the House GOP failed to pass a balanced budget bill because of lack of support from representatives viewed as sympathetic to the Tea Party movement.

The president pointed out that the possibility of a downgrade are not great developments for either party, though some are suggesting that even if a temporary or long-term bill gets passed, the credit rating could still be downgraded.

Watch the President’s speech below, courtesy of CNN:

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  • The_Reasonable_Lib

    Once again President Obama shows that he is the adult in the conversation. 

  • http://pulse.yahoo.com/_ECYBIXNKAG5E46BC3GCJQPA7CQ well_its_no_cannibal_holocaust

    The downgrade is already inevitable, thanks to the tea party in Congress. The ironic thing is the downgrade will probably cause tax increases and will be blamed on the Republicans. 2012 isn’t going to be pretty for the Republicans, the smart people in the party like O’Reilly already know this.

  • Anonymous

    maybe……but he is not in the conversation, he is a arm chair quarterback

  • Anonymous

    If he had half the leadership that he promised…a deal would have been signed already…

  • Anonymous

    I love how Obama has been taking shots at the Republicans for the past 2.5 years, dividing the government and cheapening the office of the president, and all of the sudden acts as if he is above the fray.  It was his failure to lead that caused this disaster, he’s playing politics with our economy, his approvals are plummeting and unemployment is skyrocketing, not a recipe for reelection.

  • Anonymous

    Amen to that brother.

  • realheadline

    The adult with no business experience, the adult that is a pathological liar, the adult that was born to Marxists, the adult who was educated by Marxists, the adult who blames his  problems on others, the adult that …..(fill in the blank)

  • Moderate

    Worth repeating.

    The fact that we are here today to debate raising America’s debt limit 
    is a sign of leadership failure. It is a sign that the U.S. Government 
    can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless 
    fiscal policies. … Increasing America’s debt weakens us domestically and
     internationally. Leadership means that “the buck stops here.” Instead, 
    Washington is shifting the burden of bad choices today onto the backs of
     our children and grandchildren. America has a debt problem and a 
    failure of leadership. Americans deserve better. – Sen. Barack H. Obama (D), 2006

  • Anonymous

    That  must have come from a time when Barry still had some integrity.

  • ImNotBlue

    Be honest… is there any situation in which you would say “it’s the Republican’s fault” for something negative, or praise the Democrats for something good?  Be honest… it’s just more ideological “mine is better than yours.”

  • ImNotBlue

    How do you figure?

  • EBurkeDisciple

    The adult would make a proposal.  The adult would have passed a budget 800 days ago as the law called for.  The adult would recognize how foolish it is to spend more than they take in.  What is your definition of adult?

  • Harry Flashman

    No, he’s voting “present” again and letting others do the dirty work. That way if a compromise is reached he can claim what you just said – he was the reasonable one all along.

    He has presented no plan – oh, wait, yes he did and it got voted down by every single DEMOCRAT in Congress – and has added nothing but turmoil to the issue.

    This man is a phoney, a charming, self interested, egotistical snake oil salesman whose ineptitude and incompetence are on a galactic scale.

    Can’t you see that?

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    As a Tea Party supporter my thought is that it is time to stop this food fight…   The current debate does little to address the fiscal crisis that still looms so it is time take whatever deal they can get and move on to begin work on the structural problems that have effectively already caused a downgrade of our credit, it has happened regardless of what S&P or Moody’s does and there will be a real price to pay as the resultant changes in the credit markets will adversely affect both the public and private sectors.    It is refreshing to see a group come to DC that will hold to their principles and not be coerced by party hierarchy into politics as usual, but they are misguided in this fight.  Their hard line on taxes comes from the fear of our President, and our congress not stepping up to address the issues of government waste and uncontrolled spending, highlighted by items such as the billions of dollars we throw each year at Afghanistan that we know leaves that country in suitcases, we are just funding the bank accounts of corrupt billionaires as our foreign aid does throughout the world.  Why are we spending money to study how the size of a gay man’s penis effects his sex life, how is this of national concern? , or watching shrimp on treadmills..  there is a reason these people were sent to Washington.  All the same the current fight places little more than a band aid on large open wound.  The deficit problem is structural and no matter how our democratic friends want to claim that the republicans are throwing granny over the cliff, or as Nancy Pelosi just stated that they want to overturn entitlement gains made over the last 50 years, the fact of the matter is that these issues must be addressed as they are unsustainable, no matter what the Schumers or the Wasserman Schultzes or Pelosi’s  have to say on the matter. The credit agencies are not downgrading our credit based on the current food fight in DC, no matter what happens we will continue to make our interest payments, they are downgrading our debt because of the fiscal gap that is evident when one extrapolates our entitlement commitments out over the years as compared to our income projections, the gap continues to widen.  Unless addressed there is no avoiding a lowered credit rating.

    Here is a good article on the structural problem we face, the sooner that Washington opens real and sincere dialogue on these issues the sooner they can begin to address the real issues they face.

    http://www.businessweek.com/magazine/why-the-debt-crisis-is-even-worse-than-you-think-07272011.html

    My republican friends need to also realize without tax reform that increases revenues to the government these issues will not be solved, but rather accelerated.   Bush made mistakes during his presidency that have added to the structural deficits of not only his presidency but also to President Obama’s.  We have heard the rhetoric and many of us have dismissed it as just that, conservatives saw the Congress of Reid and Pelosi spend trillions, with little accountability and seemingly few results, and they made the assumption that the stimulus effort was as much political as it was considered approach to addressing the economic woes of the country.   Much of what is done by progressives in Washington is perceived by the right as an all out effort by the left to buy votes of concerned interest groups and I think that that case can be effectively argued, but still this is peanuts as compared to the real problems we face…   Bush was more socially progressive than either side would care to admit, even so, his mistakes does not give president Obama a free pass to waste even more, or to continue down the same road..  It is time to clean up government spending, address tax reform in a manner that will increase revenues while creating a business environment that will begin to grow again, get rid of favor to interest groups no matter who they may be..  and begin doing the hard work of restoring this country.

    For any who do not understand that Bush’s policies have lasting effects on our deficits and continue to grow current deficits and future deficits here is a good article that quantifies and explores the fiscal impact of his policies, courtesy of a commenter post here yesterday.  It is certainly worth reading, because without understanding the structural problems, one can hardly talk about solutions.

    http://www.cbpp.org/cms/index.cfm?fa=view&id=3490

  • Anonymous

    Yup….the failure of leadership by Obama is a very serious issue.  He has played the fear card one too many times; default or not, the rating will be reduced….the manchild did it, although the media will blame the republicans.

  • Anonymous

    Empty suit, big Zero, manchild pointing figures is not the adult in the room.

  • Anonymous

    look ma!! im on tv again!! oh wait, you’re dead…

    health insurance companies let my ma die!! oh wait, they didn’t…

  • ImNotBlue

    (Posted in another thread… but I like making sure my predictions are seen before they come true.)

    Let me put forth a little prediction on all this mess.  No matter how
    any of this winds up, the media will report it as “bad for the
    Republicans.”

    IF the Republicans sign on to the Democrat’s
    “plan,” it will be reported as a “failure for the Tea Party,” and a
    major loss for Boehner.

    IF the Democrats sign on to the
    Republican’s plan, it will be reported that the Republicans were
    stubborn and unwilling to compromise, while the Democrats fought for the
    good of the country and did what they had to do to protect all of us.

    IF
    nothing gets done, then the Republicans will be to blame for being
    stubborn, unwilling to compromise, and so on… ignoring Reid’s
    statements that he’d kill a bill he hasn’t yet seen, and that Obama
    never actually produced anything of substance.

    It’s a lose-lose-lose for the Republicans… or that’s how it will be framed, anyway.

    But
    as polling data suggests, much of the American public isn’t buying it
    anymore.  You’d think with all the spin coming from the news networks,
    the left would be on much more solid footing.  Kinda makes you wonder
    where they’d actually be if things were truly balanced.

  • Anonymous

    President Obama Urges Both Dems And GOP To Compromise, Avoid Credit Downgrade

    Brilliant !

    President skyfet !!

  • Anonymous

    President Obama Urges Both Dems And GOP To Compromise, Avoid Credit Downgrade

    Brilliant !

    President skyfet !!

  • Anonymous

    Obama can agree to cut spending now.  Or he can hit the debt ceiling and be forced to cut spending even more next week.  It’s entirely his choice.

  • Anonymous

    An adult wouldn´t been sidelined as he is right now….both the house and senate have proposed ideas, like them or not there are written ideas….anyone missing in this political equation?

  • Anonymous

    The downgrade is inevitable because of the debt to GDP ratio, and the unwillingness of anyone in government other than the Tea Party Caucus to show any willingness to get our spending and debt under control. The ratings agencies don’t give a shit about the debt ceiling. They care about how out of balance our books are. Adding to the debt side of the ledger isn’t going to fix an iota of that.

  • Anonymous

    Heads I win, tails you lose, as it ever was. Except that it doesn’t sell like it used to. America is getting plenty more of what it voted against in November.

    Balanced Budget Amendment or bust, peeps. Don’t go wobbly.

  • Anonymous

    Another day, another whiney news conference by the Messiah.

  • Anonymous

    The only way to avert a financial disaster in America today is for Barack to immediately resign from office and he, along with his family leave our White House, Washington, and then this country.

    This man/child of questionable heritage and dubious character has, in three short years, nearly destroyed the United States of America.

    His reign of terror over our lives must end sooner than later, while there is still a glimmer of hope we will even be able to estore our country back greatness once more.

  • realheadline

    It is worth repeating and it also demonstates the ‘situational’ ethics of the insincere.

  • Anonymous

    President Barrack “The Great Divider” Obama to Congress…. “Get R Done!  Cause I haven’t the slightest idea on how to do it.”

  • http://www.facebook.com/people/Bee-Ruled/100001985815996 Bee Ruled

    More words of wisdom from our “Loser-In-Chief”.

    Might be time for BeeHO to consider saving his presidency by getting it sucked in the 0val.

    -0bama – More worst, daily-

  • http://games-survival.com Justplaythegame

    The President’s first term has been disappointing in many ways – Tommy Christopher

    Guys, the Tea Party are also democrats, you still have a chance to save face. grab hold.
    Keeping with Noonan’s demographics… Join in the song by Edgar Winters.. Come on grab on and take a free ride..set yourself free…
    http://www.youtube.com/watch?v=CWpND8GhBuU

  • Anonymous

    That’s so funny. Last Friday he was a petulant little child whose toy was taken away from him.

  • Anonymous

    That’s so funny. Last Friday he was a petulant little child whose toy was taken away from him.

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    It has just been reported that Apple has more in cash reserves than does the Federal Government, I am waiting for the calls to go and take a big bite out of the Apple.. 

  • Anonymous

    Hey Barry, keep giving speeches about this;  your past speeches on the HC bill sure convinced all the American people to accept that!!! NOT!

    LOL

  • Michelle

    The fact that we are here today to debate raising
    America’s debt limit is a sign of leadership failure. It is a sign that
    the U.S. Government can’t pay its own bills. It is a sign that we now
    depend on ongoing financial assistance from foreign countries to finance
    our Government’s reckless fiscal policies.
    Over the past 5 years, our federal debt has increased by $3.5
    trillion to $8.6 trillion.That is “trillion” with a “T.” That is money
    that we have borrowed from the Social Security trust fund, borrowed from
    China and Japan, borrowed from American taxpayers. And over the next 5
    years, between now and 2011, the President’s budget will increase the
    debt by almost another $3.5 trillion.
    Numbers that large are sometimes hard to understand. Some people
    may wonder why they matter. Here is why: This year, the Federal
    Government will spend $220 billion on interest. That is more money to
    pay interest on our national debt than we’ll spend on Medicaid and the
    State Children’s Health Insurance Program. That is more money to pay
    interest on our debt this year than we will spend on education, homeland
    security, transportation, and veterans benefits combined. It is more
    money in one year than we are likely to spend to rebuild the devastated
    gulf coast in a way that honors the best of America.
    And the cost of our debt is one of the fastest growing expenses
    in the Federal budget. This rising debt is a hidden domestic enemy,
    robbing our cities and States of critical investments in infrastructure
    like bridges, ports, and levees; robbing our families and our children
    of critical investments in education and health care reform; robbing our
    seniors of the retirement and health security they have counted on.
    Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.
    Senator Barack Obama
    Senate Floor Speech on Public Debt
    March 16, 2006

  • Anonymous

    Reid to a reporter: “This is all because of those extreme radicals in the House!”

    Reporter: “Oh, so you think they should pass the Boehner bill?”

    Reid: “Are you crazy? That’s DOA!”

  • Anonymous

    There are two conflicting views about what America should be. No compromise. One side has to win, and it will not be big government Republicans, Democrats, or Obama.

  • Anonymous

    Why should the USA that has a debt exceeding its GDP, that can’t stop spending, that’s adding $4.1 billion in debt each day and that just reported a meager 1.3% increase in GDP have a triple A rating?

  • Michelle

    I predict you will be proven 100% correct in your assessment.  That’s just how the corrupt, liberal media rolls.

  • Michelle

    Sorry Moderate, I didn’t see you also posted this.  But it’s worth re-repeating.

  • http://www.facebook.com/people/Bee-Ruled/100001985815996 Bee Ruled

    btw, I just call the White House phone number. Got through. After being on hold for about 5 minutes, the phone-system hung up on me.

    So you see, I TRIED to call the lawmaker who was MOST responsible for this impasse.

    -0bama – Khrushchev reincarnated-

  • Anonymous

    By compromise Barry means massive tax hikes and his ability to spend a few trillion through the first Wednesday in November 2012.

  • Anonymous

    You will be hearing now about Big Oil, Corporate Jet Owners, and Apple are making too much money.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    There’s no reason not to pass a clean debt ceiling bill.  The GOP is making one last desperate power grab on behalf of its corporate masters, and using the rest of us as hostages. 

    I just want to remind anyone out there who votes republican and is not a millionaire already that when the GOP destroys the U.S.’ credit rating, your interest payments on mortgages, loans and credit cards will go up, your pensions and savings will lose value, and unemployment will become worse.  

  • http://www.facebook.com/people/Bonnie-McGuinness/100002588403595 Bonnie McGuinness

    I’m tired of the excuses, delays, let’s bake bread together, call your congressman, blah blah, blah. You’re the President, act like it, settle this nightmare and joke of a country around the world, and stop terrifying me as a senior citizen relying on my social security to minimally get by. Its sickening. Get angry, do something.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     The adult would recognize that it’s not fair to starve the youngest child while continuing to subsidize the luxury yacht of the oldest, strongest child.  Revenue is the problem.  Some waste can be cut, but millionaires and billionaires have spent the last four decades lobbying for ridiculously favorable tax breaks (leaving the rest of us to carry their weight), and all that has to be rolled back, which is Obama’s position.

  • Balesd

    Dear Mr. President, You said you will not guarantee SS checks if the debt ceiling isn’t raised. Why is it the scare always has to do with SS, Medicare, & our Soldiers pay? Why not stop your pay, your staff, or senators to save more money for our country? Why use Seniors, Soldiers, & our Needy as examples? Lets hold the paychecks of all house & senate members, then see how fast they resolve the debt crisis

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Republicans spend like drunken sailors when they’re in power, then scream about deficits when they’re out of power.  Look it up.  Getting the debt under control means getting CEOs and billionaires to pay their fair share, closing loopholes that encourage them to offshore jobs, and getting Americans working again. 

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Since you know so much about the deficit, do you know that after World War II, the deficit was many more times GDP than it is now, and the world didn’t end?  Yeah, didn’t think so. 

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     That is hilarious.  I LOVE IT!  You are completely disconnected from reality.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Ahahaha.  Are you getting paid to post that, or are you really that hypnotized by Glenn Beck?

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    It’s so funny when you guys call the President “Barry.”  You’re so clever.  Don’t break your arm patting yourself on the back for such dazzling wit.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    It’s so funny when you guys call the President “Barry.”  You’re so clever.  Don’t break your arm patting yourself on the back for such dazzling wit.

  • Michelle

    Bonnie, don’t worry, he’s flat out lying about people not getting their SS checks. 

  • Michelle

    Bonnie, don’t worry, he’s flat out lying about people not getting their SS checks. 

  • Anonymous

    Correct. And they know it. But preventing a second term of Obama is of higher interest fro them than to do anything on behalf of the American people.

  • Anonymous

    Correct. And they know it. But preventing a second term of Obama is of higher interest fro them than to do anything on behalf of the American people.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    Fedup, I think you’re really sincere and clearly thoughtful, and I agree with a lot of what you say.  I think that Standard and Poor’s is not a good judge of character, though, considering how they rated clearly toxic securities as triple A right up until the crash.  Our credit rating will take a hit if the debt ceiling is not raised, period.  There’s room, and there will be time, to have a real discussion about spending and tax reform, but for now, the urgent thing is the debt limit.  I urge you to contact your representatives and ask for a clean debt ceiling bill.  That’s what I’ve done.  And I hope that more conservatives listen to people like you. 

  • Anonymous

    Is that why the lower half of Americans pay no federal income tax? Because everybody but the millionaires and billionaires who pay 58% of federal income taxes have left those who pay nothing to carry all the weight?

  • Anonymous

    Bush’s worst year had a $400 B deficit, with a Democrat Congress. Obama is on his third $1.5T deficit.

    You think having the wealthy give more to the government is going to put people back to work? That’s funny. Sad, but funny.

    Loopholes don’t encourage them to offshore jobs, taxes and regulations do.

  • Anonymous

    Bush’s worst year had a $400 B deficit, with a Democrat Congress. Obama is on his third $1.5T deficit.

    You think having the wealthy give more to the government is going to put people back to work? That’s funny. Sad, but funny.

    Loopholes don’t encourage them to offshore jobs, taxes and regulations do.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     This is a myth.  The 50% you’re talking about pay plenty of taxes – they pay payroll taxes, property taxes, sales taxes, etc. etc.  It’s the billionaires that have a zillion loopholes and pay nothing, hide their money overseas and even, in the case of Wall st., managed to get themselves a 15% stated tax rate (but with loopholes their effective tax rate is a lot less).  While you’re looking at the percentage they pay, why don’t you look at the percentage of overall wealth they now own, and the percentage of income they now claim?  It has skyrocketed since GWB was in office because of tax manipulation.  I hope you yourself are a millionaire, because if you’re not you’re a stooge, or you’re being paid by Americans for Prosperity or some other PR outfit to post this. 

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    It’s so horrific to think that publicly elected officials would do this, but that’s what it’s starting to look like.  

  • Anonymous

    A clean debt ceiling bill would guarantee that our credit is downgraded. You are clueless, unlike your namesake.

  • Anonymous

    If the President wants the Democrats and Republicans to compromise then why does he keep threatening to veto if it makes it to his desk. Any bill making it to his desk would be a compromise.

  • Greg

    Except none of that is true.  

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     You realize that Obama can’t write checks.  The House has to originate financial legislation, and the House is run by lunatics who don’t have to care about their constituents because they have big corporations backing them.  Obama is asking people to call their representatives because he doesn’t have a magic wand — this has to be done in the House to follow the Constitution. 

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Wow, you know a lot for being an anonymous (probably paid) poster. 

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    Why not ask the House to pass a clean debt ceiling bill so that conversation doesn’t even need to happen?  Get real.  Also, are you being paid to post this?

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     The only outfit that has threatened to downgrade us based on the deficit is S&P, who rated toxic securities triple A right up until the crash.  Without their probable fraud, there would have been no recession.  Get real.  You’re running out of weak arguments.

  • Anonymous

    Why did you just lie, libby boy?

    “Federal, state and local debt hits post-WWII levels”
    “After World War II, the federal debt – including debt purchased by the Social Security Trust Fund – hit nearly 122 percent of gross domestic product.”

    And what was the GDP in 1946?   $222.6 billion!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    That’s about 55 days under the current debt we add each day.

    Yeah, you know nothing!

  • Michelle

    Um, yet it is.

  • Michelle

    Were you against raising it, like Obama was, when Bush was in office?

  • Michelle

    Were you against raising it, like Obama was, when Bush was in office?

  • http://www.facebook.com/people/Stephen-J-Robb/636524442 Stephen J. Robb

    Let us all band together and get his black ass out of our White House!!
    We The
    People demolished Congress in 2010 because we needed voices who would
    speak for us. In his “spiel” this morning…Harry Reid seems to be
    telling John Boehner to tell “We The People” to shut up and just vote
    for his bill.
    I wonder how many will still allow the same ilk of politicians who got
    us to this awful place to take us further toward American armageddon?

  • Anonymous

    Fact: Bush added $5 trillion to debt in 8 years= $625 billion a year

    Fact: Barry has added $3.9 trillion in debt in 2.5 years= $1.56 trillion a year

  • Anonymous

    No, the true speaks for itself, libby boy.

    BTW, why did your avatar own salves and sleep with one and refuse to free his slaves upon his death?

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     You are so wrong.  You really think people believe that?  Two wars?  Medicare Part D, which was a giveaway to the pharmaceutical companies?  The Bush tax cuts on the rich?  Everyone knows that Bush used accounting tricks that Obama was forced to reconcile.

    I’m going to educate you on economics 101.  When taxes are higher on the rich and corporations, they are incentivized to invest more in their companies for write-offs, therefore improving equipment, hiring workers, etc.  When their taxes are low and loopholes are plenty, they are incentivized to hoard money in offshore tax shelters and gamble with their money, fueling economic bubbles.  There is no incentive to reinvest in their companies because the more costs they can shave off (i.e. moving their operations to slave labor countries without having to worry about tariffs), the higher the profits at the top, the more they can pay themselves in bonuses.  Competitive in their eyes is not the same as competitive in terms of the overall US economy. 

    I’m going to educate you AGAIN on loopholes that encourage them to offshore jobs.  Right now, companies can write off the cost of closing up a factory or whatever here and repopening it in, say, China or Bangladesh.  Nancy Pelosi passed legislation that would close that loophole and create a tax break for companies that moved their operations back to the U.S.  This was filibustered by Senate republicans. 

    Now, the real problem with US jobs is our trade policy.  We had tariffs for 150 years that helped protect U.S. manufacturing.  Now, we have almost zero tariffs while our trading partners like China, India, Brazil, countries in Europe, Japan, etc. have high 20 – 40% tariffs on U.S. goods. 

    I don’t understand why people like you don’t consider people that send jobs overseas to enrich themselves at the top without giving two $#!#sd about the U.S. economy to be traitors.  I do. 

  • Anonymous

    I said income tax. Their sales taxes, and property taxes don’t go to the Fed. Rich people pay all those taxes too. Focus, and try to wrap your brain around the facts.

  • Anonymous

    Our credit rating will take a hit regardless of the debt ceiling. Borrowing more money does not make you a better credit risk.

  • Firkind

    He is an idiot and he is not in the conversation.  that’s why he keeps giving these speeches.  nobody is talking to him.  He is a screw up.  He has no idea what he is doing.

  • Anonymous

     The GOP is making one last desperate power grab on behalf of its corporate masters,”

    Really? And who were Obama’s top 3 contributors in 2008? Goldman Sachs, Citigroup, and JP Morgan.

    LOL

    You are such a funny little man.

  • http://www.facebook.com/people/Stephen-J-Robb/636524442 Stephen J. Robb

    Now he wants “compromise”….Where was the compromise on Obamacare?
    He can kiss my butt….You can’t compromise truth and honor….unfamiliar concepts to his sorry ass.
    Compromise is what got us to this point.

  • Jon Weiss

    An adult would be providing guidance and direction, not merely pointing fingers of accusation at those who disagree with him.  Obama’s guidance seems limited to tantrums, foot stomping and demanding that it be done his way.

    It does not take an adult in the bathroom, to notice that the bathtub is running over, but it is usually the adult that comes in to turn off the water. 

    Obama is like the toddler who does not reach to turn the water off, but is instead stands by mesmerized by the water pouring all over the floor.

    Those of you who have raised twins can relate.

  • Anonymous

    She hit a nerve!

  • http://pulse.yahoo.com/_ECYBIXNKAG5E46BC3GCJQPA7CQ well_its_no_cannibal_holocaust

    No Michelle he actually isn’t, Treasury right now is going to have to decide who gets paid if the ceiling isn’t raised by the 2nd, there will be a shortfall if the Republicans continue to stonewall. You can listen to Rand Paul all you want, say that SS checks will go out on the 3rd, but the reality is if the ceiling isn’t raised some people will either not get checks at all or will get a lot less than they normally get to live on. That is the unfortunate facts of the situation.
    The reason the Republicans like Paul are out there saying this is because they know that not everyone will receive checks on the 3rd if the ceiling isn’t raised. They also know that they will be blamed for it, and like when they shut down the government in 95 they will lose the next election big. It is an unfortunate way for the Dems to win the next election, but the Republicans are doing it to themselves.
    All people who receive SS/Medicare/Medicade should be concerned right now. Veterans who receive benefits should be worried as well. The Republicans better do the right thing for this country and not their party for once.

  • Anonymous

    NO-PLAN-OBOZO is so irrelevant that his teleprompter readings sound like nothing more than background static.

  • Michelle

    Right, so if Bonnie doesn’t get her SS check, it will be Obama’s CHOICE!

  • caconservative

    If downgrading this governments ability to borrow us into oblivion, then the sooner it happens the better. We are going to stop this insane government one way or the other. If voting doesn’t halt this crap, then guns will. The fact that this government is doing everything they can to subvert the 2nd Amendment tells us they know we will soon reach end of our patience, and they are scared to death.

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    “Many more times”?  If my memory serves me well it was something like 123% of GDP, but the country had a much greater economic engine than it does today, we were energy self-sufficient and we were the worlds manufracturing powerhouse. Europe and Japan had been decimated by war and we were the only game left standing 

    At the end of 2001 as Bush concluded his first year in office the National debt represented about 55% of GDP today it represents about 105% of our GDP and growing..  I would say that there is reason for concern.  We have no real energy policy, no plan to attract producing corporations back to the US…  we have problems and they must be addressed.. 

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    Your post is offensive and does little good for your cause…  You’re probably a lib posting as a conservative just to tarnish the brand

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    Today, it’s 98% of GDP, right?  After WWII it was 122% of GDP.  And the world didn’t end.  You just made my point for me.  Thanks!

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Today it’s around 98%, still less than after WWII.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     At least the other shills above made an effort.  I don’t think you should get paid for posts like this.

  • Anonymous

    Wrong! So has Moody’s. And it was Fannie Mae who started your libs nirvana of “everyone deserves a home.”

    With the backing of CEO James Johnson at FM , Mondale’s former campaign manager,  FM decided  in 1995 to turn itself  from a lending institution into a profit center  based on EPS rather than ROA by lowering capital requirements , deciding you didn’t have to have a credit history, or a down payment for a home. FM even established goals of 30% loans to low-income people, 30% to inner-city residents based on recommendations suggested by such groups as ACORN.

    Then FM sold its toxic mortgage backed securities to the world with Moody’s and S &P rating them highly, because they were being PAID to rate the securities.

    And the commercial banks soon followed suit by offering no credit checks, no income checks, not requiring any down payments  and even interest-only and negative amortizing loans to people who couldn’t qualify for a car loan much less than a home loan.

    But hey, Barney Frank and Maxine Waters said everyone deserved to participate in the American dream whether they could afford it or not.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     The United States is the most secure debtor in the world (thanks to Reagan — we used to be the most secure creditor in the world).  You’re full of it.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     If Apple didn’t have tax loopholes up the wazoo and make all its products using slave labor in China that has to sign pledges not to commit suicide because conditions are so bad, maybe they’d help support the commons that made a company like Apple possible. 

  • Anonymous

    LOL

    And you did lie:”

    after World War II, the deficit was many more times GDP than it is now”

    LMAO

    many times as much?

    Our current debt is about 102% of GDP- put that in your pipe and smoke it, liar!

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Because they and others like them have spent decades carving up the tax code so that you and I will pay their share of the commons, all the while USING the commons more than we do, i.e. our court system, our law enforcement, our energy infrastructure, our roads, our educated workforce, etc.  It’s a scam.

  • Anonymous

    Wrong!

    It’s 102%.

    And at 98% that is hardly “many times “  less that than 122% in 1946!

    LOL

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    Have you ever read the Constitution?  Do you know who is responsible for legislating and who is responsible for the government’s check book?  You people are getting sadder by the day.  Pick up a book, for crying out loud.  

  • Anonymous

    LOL

    I love it when libs are rendered speechless!

  • Anonymous

    Looks like I got myself another stalker.  What’s with you loony libs and stalking conservative commenters?

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     I don’t deny it.  Money needs to get out of politics, but if you look at where the huge windfallls of money are going, it’s straight into the Tea Party, who are more than happy to do their bidding.  The Consumer Financial Protection Agency is Wall St.’s greatest enemy — guess who’s trying to defund it?  Your friends in the GOP.  Nice try though.  I love that you called me a “funny little man.”  If you only knew the truth, lol.

  • Anonymous

    Your forgot the ‘of’ in your name.  You’re welcome!

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     No, she didn’t.  “Michelle” (who is probably neither female nor named Michelle but some Americans for Prosperity dronebot paid by the post) doesn’t know what will happen if the debt limit is not raised because it’s only happened once and barely happened at that.  The President can’t appropriate money.  Haven’t you read the Constitution?  Geez.  You are not being a good shill today.  You need to go back and get fresh talking points.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Treasury can’t appropriate money.  They can delay certain payments, but they can’t pick and choose.  Congress appropriates money.  Other than that, I agree with you 100%.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    I realize you’re probably not actually this much of a simpleton, but please, you’re embarrassing yourself. 

  • Anonymous

    Everyone knows that Bush used accounting tricks that Obama was forced to reconcile.

    No. Deficits are the bottom line. Spending minus revenue. There is no “hidden Bush deficit” Obama is now paying for. You’re referring to spendiung that Congress authorized, but wasn’t in the actual budget. It still shows up in the deficit.

    I’m going to educate you on economics 101.

    No, you’re not. You’re not capable of that.

  • Anonymous

    I do- you are not funny!

    And just who is estimating he will have 1 billion to spend on the 2012 campaign?

    LOL

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     Are you attempting to actually communicate with me?  Wonderful!  You mean, when Bush raised it 7 or 8 times?  It wasn’t an issue because before the corporate-fueled insanity of our current age, everyone knew the debt ceiling had to be raised because the debt ceiling is about MONEY ALREADY SPENT!  Do you even realize that “Michelle”?

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

     At least you’re letting your racist flag fly rather than those who couch their racist thoughts in words like “socialist” and “muslim.”  That said, you’re disgusting. 

  • Anonymous

    LOL

    You lie again.

    ” “Michelle” …. doesn’t know what will happen if the debt limit is not raised because it’s only happened once ….”

    Once?
    Really?

    Try again.

    .In 1985 Congress waited nearly three months after the debt limit was reached before it authorized a permanent increase. In 1995, four and a half months passed between the time that the government hit its statutory limit and the time Congress acted. And in 2002, Congress delayed raising the debt ceiling for three months.

    Do you just make it up or are your TP’s incomplete?

  • Jon Weiss

    Revenue is not the problem, spending is the problem. 

    You mention starving children, and I agree we do have a moral obligation to remedy that.

    But rather than raising taxes, perhaps we should spend less on things such what was revealed in a recent article regarding the tax payer supported “Study of gay men’s penis size.”  A project of this type has been taking nearly a million dollars per year through the NIH.

    I am of the opinion that projects such as studying penis size is far less worthy of tax funds than feeding kids.

    Some others;
    U.S. Botanic Garden has artistic displays of plants, exhibits – $6,275,000 to pay for flower arrangements for the LOC

    The Department of Agriculture – $19.1 billion on a variety of programs. not one of which was actually involved in agriculture.

    Department of Education – $57.3 billion paid out resulting in the highest rate of student failures in history.

    Department of Health and Human Services – $66.8 billion, for Substance Abuse and Mental Health Services, responsible for getting children hooked on prescription psychoactive drugs

    HUD spent $31.3 billion – to poverty dependence.

    Department of Labor – $11.9 billion to fund programs that have already been terminated.

    The African Development Foundation – Large bales of cash to Africa won’t solve the problem there. Africa needs market reforms and more economic freedom, not U.S. cash.

    Broadcasting Board of Governors’ – Apparently the U.S. news networks can’t “clearly present the policies of the United States” well enough for the government’s purposes.

    Environmental Protection Agency – An agency that spend billions in the 1970′s to protect critters such as the celebrated and near extinct “Spotted Owl”, that was until it was discovered that the Owl was not actually endangered, but rather that researchers were simply looking in the worn regions and the owls were not as territorial as first presumed and the owls were actually moving all over the place and were even becoming a nuisance by their presence in human populated areas.

    And my all time favorite, $787 billion in stimulus that did absolutely nothing.

    Had Obama’s stimulus been handed out to the public rather than CEO’s, there would have been $787 billion circulating in the economy rather than padding the pockets of the Union Bosses.

  • Anonymous

    Wise words. Too bad they have not been accompanied by wise actions from this “do as I say, not as I do” president.

  • http://twitter.com/AllCreatedEqual Thomas Jefferson

    Well, I wish I could say it has been fun sparring with you shillbots from Americans for Prosperity or some other corporate-funded PR firm, but at least you’ve given me a few laughs.  Enjoy selling out your country for the benefit of a few billionaires.  Ciao.

  • Anonymous

    Hey, we want all Americans to be rich, while you want all Americans to be poor.

    I will take rich!

  • Michelle

    So you’re saying your disagreed with Senator Obama when he said:

    The fact that we are here today to debate raising America’s debt limit
    is a sign of leadership failure. It is a sign that the U.S. Government
    can’t pay its own bills. It is a sign that we now depend on ongoing
    financial assistance from foreign countries to finance our Government’s
    reckless fiscal policies.

  • Anonymous

    And next time- don’t sleep with your slaves, TJ!

  • nancillarypeloslinton

    United States President Barack H. Obama continuously states that GWB led us into two wars that we didn’t pay for.

    Why is the debt incurred under Obama’s administration 2x’s the debt that GWB ran up even though President Obama has indebted us in 1/2 the amount of time?

  • Anonymous

    Ad hominen attack is okay with me, proves my point. Try to be a little more creative next time.

  • Anonymous

    Wow- this so so rich coming from one who wrote about the genetic inferiority of blacks, complained about their smell but yet slept with a black concubine and refused to free his slaves?

    What do we call such a person like this?

    Why a liberal of course.

    I mean who else would complain about a SCOTUS candidate who allegedly made unwelcomed advances to a women, yet lionize a Senator who killed one? Only libs.

  • ImNotBlue

    It’s a ConSPiraCy!  WoOoooOOOOOoo.

    Ugh.

  • Anonymous

    Sorry- those were TPs last year.

  • Anonymous

    No valid reason to have escalated the question of the debt ceiling to this point. This is utterly irresponsible and horrific indeed.

  • Anonymous

    Yet the WingNut goose-stepping goons of conformity continue on in lock-step.  Proud Murcuhn patriots.  Yup!

  • http://pulse.yahoo.com/_U7T5LVIQK7AMIBM5WI765VDVDQ smald4lib

    If you think about this the Republicans are the problem and their extreme positions have put us in this position. They are using the nations debt ceiling to privatize SSI, and Medicare. But they belong to us, since we are paying for them out of our paychecks. They think they belong to them to privatize becasue the neocons believe that the people on Wall Street can use a cash infusion, as if they need another one from the tax payers. The other problem is why would anyone, but a lunatic, want to default on themselves. Americans own 65% of the treasuries in the US, and China only 8%. Wake up………..

  • http://pulse.yahoo.com/_U7T5LVIQK7AMIBM5WI765VDVDQ smald4lib

    Repeat after me: The debt ceiling is the money we already spent. The budget is the future expenditures. Now repeat this over, and over……..and finally you may get it………….

  • Anonymous

    Really? You jest because all the libs told us that Barry wrote that HC bill- I kid you not!

  • Anonymous

    Wait- Obama is in his first term? When did that happen? I mean, really all I hear is that everything is Bush’s fault so I assumed that Bush had abrogated the 22 amendment.

    You mean you are finally admitting this mess  is Barry’s fault!

    There is a God after all and he ain’t named Barry!

  • Anonymous

    Oh, ya mean like TJ has been doing throughout this thread?

  • Anonymous

    nexialist, the only way the extremist Republicans will win is if they do manage to destroy the country before the next election. People are not going to vote for Tea Party bulls#it again when they promised jobs and gave us 13 abortion bills and endless attacks on unions. And ESPECIALLY because the Republicans are going to have one of its weakest presidential nominees in its history. The only way the extreme right will improve upon its 2010 performance is through disenfranchising voters or just plain out fraud.

  • Anonymous

    Thanks for adding nothing , you barryobot!

  • Anonymous

    You’re truly delusional.

  • Michelle

    Repeat after me, Cut, Cap, And Balance is the only responsible way to go. 

  • Michelle

    (Politico)
    — A new poll shows that President Barack Obama’s approval rating has
    plummeted to a new low as talks to raise the debt ceiling stalled and
    the president stayed out of the public eye after a Monday night speech
    through early Friday.The president’s average approval rating on Tuesday, Wednesday and Thursday was 40 percent in Gallup’s daily tracking poll released on Friday. His approval rating averaged 46 percent in June, and was at about the same level for most of July.Ouch!

  • http://societyfordaintydamsels.wordpress.com Fennel

    Unsure where you got the 58% figure. I figure whatever the percentage is that people with not enough income, ie the low income people don’t have the money to pay into taxes.  Besides multimillionaires and higher on the tax bracket can certainly and should pay their fair share.  The key phrase is fair share. 
    The budget should not be the sole responsibility on the backs of the most financially vulnerable.

  • http://societyfordaintydamsels.wordpress.com Fennel

    I like your post but I would include the fact that many major US corporations don’t pay their fair share in taxes either for that matter.

  • Anonymous

    Presidency and Senate will both be big government, big corporate butt boys, no matter which party. A bullet proof House, one that will turn off the deficit spigot, is what I’m working for. My Congressional district is reliably Democrat, so I’m bundling contributions to Tea Party candidates for the House. The biggest advocates for raising the debt ceiling are the crooked money center banks that use world governments as their personal piggy banks. Until your side gets off the talking points and realizes you’re getting played, the task will be that much more difficult.

  • Anonymous

    Presidency and Senate will both be big government, big corporate butt boys, no matter which party. A bullet proof House, one that will turn off the deficit spigot, is what I’m working for. My Congressional district is reliably Democrat, so I’m bundling contributions to Tea Party candidates for the House. The biggest advocates for raising the debt ceiling are the crooked money center banks that use world governments as their personal piggy banks. Until your side gets off the talking points and realizes you’re getting played, the task will be that much more difficult.

  • Anonymous
  • Anonymous

    If you really think about it – you’re acting like the ejets in Greece, you know the ones you make fun of – no money but they still want it all.  

  • http://games-survival.com Justplaythegame

    Maybe just Maybe congress could actually do some work and enforce stronger tariffs on imports to equal American labor, instead of all this freetrade bullshit that pushed American companies offshore to use slave labor for higher profits. American Companies become huge due to being smart and working around the loopholes Government creates.

  • Anonymous

     Revenue is not the problem. Spending is the problem. We have 3 wars and a an entitlement program that verges on a pyramid scheme. You can raise all the revenue you want, it wont matter. They’ll just spend it on more wars and a social safety-net rip off.

  • Anonymous

    Which is why he didn’t field any questions. He knows everyone in the media but MSNBC will ask”where’s your plan Mr. President?”

  • Anonymous

    Wait, so the tea party traveled back in time and voted for 2 wars and all the spending under George W and health are bill. Those fucking teabaggers must have got a DeLorean!

  • Anonymous

     He wont mention unemployment because he can’t fix it, he has no clue. Republicans can’t fix it either, man we’re screwed.

  • Anonymous

     Sarcasm is really clever too.

  • Hernandezfamily

    Please….. What ever happend to the Golden rule when we got in this pickle to begin with. ” You can’t fix money problems with money” enough said!

  • Hernandezfamily

    Please….. What ever happend to the Golden rule when we got in this pickle to begin with. ” You can’t fix money problems with money” enough said!

  • Anonymous

    Maybe it’s time to let the libertarians take a shot at it?

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    Depends on where you pulling your data from mine came from a gov website.

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    I don’t know if you will be coming back to answer this, but the last part of comment about the tariffs, it seems to me that if we were to re-institute tariffs we would be in for a long ride in international courts as we would be breaking a multitude of treaty provisions… that is why we were subsidizing Brazilian cotton last year…  as our own subsidies broke international treaty and rather than face sanction we found it easier to subsidize Brazilian farmers.  You can’t go back, the open economy is here and there is no going back.  We have to find the answers in the framework of the realities of today.  Again, you can’t just try and blame all this crap on the republicans as both Rep and Dem Presidents alike have given strong support to free trade. 

  • Anonymous

    Bad Nachi, no crunchy munchy muchims for you!

  • http://www.facebook.com/people/Stephen-J-Robb/636524442 Stephen J. Robb

    Is his ass black?
    That said….Please insert your race card in the slot between tour buttocks.
    Am I making myself clear?

  • http://www.facebook.com/people/Stephen-J-Robb/636524442 Stephen J. Robb

    You should know…Libtard. See comment below and follow the instructions.
    in·struc·tion  (n-strkshn)n.1. The act, practice, or profession of instructing.2. a. Imparted knowledge.
    b. An imparted or acquired item of knowledge; a lesson.3. Computer Science
    A sequence of bits that tells a central processing unit to perform a
    particular operation and can contain data to be used in the operation.4. a. An authoritative direction to be obeyed; an order. Often used in the plural: had instructions to be home by midnight.b. instructions Detailed directions on procedure: read the instructions for assembly.

  • http://www.facebook.com/people/Stephen-J-Robb/636524442 Stephen J. Robb

    You should know…Libtard. See comment below and follow the instructions.
    in·struc·tion  (n-strkshn)n.1. The act, practice, or profession of instructing.2. a. Imparted knowledge.
    b. An imparted or acquired item of knowledge; a lesson.3. Computer Science
    A sequence of bits that tells a central processing unit to perform a
    particular operation and can contain data to be used in the operation.4. a. An authoritative direction to be obeyed; an order. Often used in the plural: had instructions to be home by midnight.b. instructions Detailed directions on procedure: read the instructions for assembly.

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    And this is supposed to make you look smart?  Or..  less of an asshole maybe?   You’re pitiful, do you beat your children, your wife.. drink yourself to sleep at night? Or are you just this f’d up. 

  • Ongeasana

    You Americans are funny lot. Your president cannot rule by decree, you are a “democracy” He needs the Cogress and the Senta to agree on a deal.  The Republithugs just want to play the devil. They want to do him in whatever! When he does exactly as the law requires, you claim he has no leadership qualities.  You are all in this very weak boat. The Democrats and your president are trying to steer to safetly, while the  republithugs keep jostoling and shoving everyone. But nobody wants to accept that they are to brame. ” There is enough brame to go around” WHAT?!!! ARE YOU GUYS BLIND DEFT OR JUST PLAIN PREJUDICED FOOLS? DUH!!!!!!!!!!!! 

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