U.S. political impasse threatens world?

[Versus]

Default and get it over!

I could agree with this. It will be painfull though....

[Versus]

Gunnut rulez :)

[Julie]

While your pal Bush didn't do any better, yet where was your concern than?

From 2005 to 2008 the debt increased 2 trillion. Who got the bailouts rolling? Talk about socialism and nationalization in the financial system if I ever saw it. Think all of the politicians have been reading a bit out of Karl Marx.

I am simply not trying to compare who did more just pointing out that Bush spent like a drunken sailor also which is pretty contrary to the political right and I am kinda surprised now they show all the outrage. Either way they were inept or involved.

You haven't ever went back and read my Bush-bashing posts when he was President have you? I didn't agree with his spending agenda then, and I sure as hell don't agree with the CONTINUED spending agenda now.

Let them default, and get over it. That's what millions of Americans have had to do with their Mortgages until the "market adjusts." The Feds need the same medicine.

[snapper]

I agree with you %100 sir.
It is called deflation. It is a necessary part of a correctly functioning capitalist economy. It is also a necessary function of globalization. The sooner it is allowed to happen, the better off everyone (the whole world) will be.

Entirely in agreement but sadly it won't happen.

[Roosveltrepub]

Default is for countries that can't pay their bills not for countries that won't pay their bills.

Anyway I really was wondering how it was being reported or if it was newsworthy internationally not with my fellow americans.

[Roosveltrepub]

Entirely in agreement but sadly it won't happen.

deflation is a precuror to depression not better times. No one spends money till forced to when goods and services are dropping in price.

[Laser]

deflation is a precuror to depression not better times. No one spends money till forced to when goods and services are dropping in price.

Isn't that really only true of Discretionary income.

[Versus]

Default is for countries that can't pay their bills not for countries that won't pay their bills.

Anyway I really was wondering how it was being reported or if it was newsworthy internationally not with my fellow americans.

Well, here there were two headlines in the local media but than they got lost in the sea of domestic problems. Comments were colorfull thogugh mostly along new world order-conspiracy-Alex Jones is our God type.

[Doktor]

Default is for countries that can't pay their bills not for countries that won't pay their bills.

Anyway I really was wondering how it was being reported or if it was newsworthy internationally not with my fellow americans.

It's in the news over here, but it's not covered that much. We form new government and everyone waits to hear the new ministers ;)

[gunnut]

While your pal Bush didn't do any better, yet where was your concern than?

From 2005 to 2008 the debt increased 2 trillion. Who got the bailouts rolling? Talk about socialism and nationalization in the financial system if I ever saw it. Think all of the politicians have been reading a bit out of Karl Marx.

I am simply not trying to compare who did more just pointing out that Bush spent like a drunken sailor also which is pretty contrary to the political right and I am kinda surprised now they show all the outrage. Either way they were inept or involved.

You get that from Roosie?

Do you people have anything else to add other than "Bush did this" or "Bush did that?"

[Dago]

You haven't ever went back and read my Bush-bashing posts when he was President have you? I didn't agree with his spending agenda then, and I sure as hell don't agree with the CONTINUED spending agenda now.

Let them default, and get over it. That's what millions of Americans have had to do with their Mortgages until the "market adjusts." The Feds need the same medicine.

Fair enough.

[Dago]

You get that from Roosie?

Do you people have anything else to add other than "Bush did this" or "Bush did that?"

uh, actually I didn't. However when I read some responses, I understood this to be more of a widespread issue and not localized to anyone person or thing, either the person or the Presidency. So from that, I thought I would just look up figures in the past 10 years and notate that it wasn't any better before and this problem has been here for a very long time, even going back farther than 10 years. Do you want me to bring up other Presidents or years of Congress? I am not partisan on this, as Democrats and Republicans who pretend to be "against massive spending" I will show you there terms and figures. They both share responsibility.

But I do find it a bit funny, that now "House Republicans" are demanding, and taking firm stands. I mean, where were those demands 4 years earlier, when they blindly raised the debt limit for there President Bush? Democrats haven't done much better, granted. But Republicans share responsability for the last 8 10 years, when they controlled the Congress and partially the Presidency. Republicans could have passed there initiatives a few years ago with ease with the control they had, but they didn't. Now all of sudden there is a massive awakening and "change". I guess that is politics for you. This deficit spending has been a problem for a very very long time. % of GDP ahs raised gone down a bit and back up to historic levels.

[gunnut]

But I do find it a bit funny, that now "House Republicans" are demanding, and taking firm stands. I mean, where were those demands 4 years earlier, when they blindly raised the debt limit for there President Bush? Democrats haven't done much better, granted. But Republicans share responsability for the last 8 10 years, when they controlled the Congress and partially the Presidency. Republicans could have passed there initiatives a few years ago with ease with the control they had, but they didn't. Now all of sudden there is a massive awakening and "change". I guess that is politics for you. This deficit spending has been a problem for a very very long time. % of GDP ahs raised gone down a bit and back up to historic levels.

1. Who controlled the House in 2007? Remind me again, my memory is faltering.

2. I have always attacked Bush's spending plan. It was he and the republican congress that passed a load of welfare spendings. However, Obama and the democrat congress out-did Bush and the republican congress by a factor of 10.

3. These republicans are not the same republicans during the Bush years (some are). Those were thrown out in 2006 because of their wild spending ways. We replaced them with democrats. Then we found out they were worse, so we replaced them with different republicans in 2010.

Check my posts dating back to 2006. I have always refered to Bush's domestic policies as "atrocious."

Obama, however, is far worse. I can only wish Bush were still in office. I'll suffer through 5.5% unemployment and 3% growth.

[Laser]

At his speech tonight Obama says that 80% of the American people believe in a "balanced approach" to the budget. Less than 10 minutes later a Rassmussen pole demonstrates that more like 30% agree with said approach. Clearly, he is making stuff up out of thin air now.

[Parihaka]

Just default already. I thought the deadline was over weeks ago but it just seems to be a moveable feast.....