Obama, Boehner clash at White House over debt-ceiling hike

[mnosteele52]

Obama, Boehner clash at White House over debt-ceiling hike

According to a readout of the meeting from the Speaker’s office, Boehner asked Obama if he was proposing that Congress increase the debt limit without corresponding spending cuts. The president replied, “Yes,” the Boehner aide said. At that point, Boehner told Obama, “As long as I’m around here, I’m not going to allow a debt-ceiling increase without doing something serious about the debt.”

Someone please explain this to me, I was taught even as a child how to live within my means, it's basic budgeting and economics. Yet the leaders of this country don't get it....... BASIC economics.

[RaisinCain]

I have an explanation for you. Quit posting negative and insulting posts about Obama. He's the prez- you can't change that. You just end up sounding like a little crybaby, whiny idiot with your constantly derogatory posts. Get over it.

[mnosteele52]

It's called "ignore", educated people know how to use it.

[SlyOneDoofy]

Obama, Boehner clash at White House over debt-ceiling hike



Someone please explain this to me, I was taught even as a child how to live within my means, it's basic budgeting and economics. Yet the leaders of this country don't get it....... BASIC economics.

That's how government runs. There will never be a surplus because they always find something to spend it on.

[mnosteele52]

That's how government runs. There will never be a surplus because they always find something to spend it on.

It makes no sense, it amazes me how the logic is "we need to spend everything in our budget or we won't get the same money budgeted for next year". There is no benefit to saving money and having a surplus as you said.

If we all ran our financial lives with government mentality we would all be in a world of hurt..... and debt.

[Roody]

This thread should be renamed "The Dick Cheney philosophy on deficits".

[mnosteele52]

This thread should be renamed "The Dick Cheney philosophy on deficits".

Then rename it, just realize the fact that the president you support is bankrupting this country at warp speed.

[Roody]

Then rename it, just realize the fact that the president you support is bankrupting this country at warp speed.

It was sarcasm man. You don't recall that comment from Cheney?

[mnosteele52]

It was sarcasm man. You don't recall that comment from Cheney?

Sorry Roody, didn't remember that quote, looked it up and I agree, it's totally ridiculous.... by all parties to have this mentality.

[Roody]

Sorry Roody, didn't remember that quote, looked it up and I agree, it's totally ridiculous.... by all parties to have this mentality.

No worries man. Just wanted to clarify. No question the U.S. needs to get it's finances under control. I disagree with Boehner's idea of giving tax cuts to the wealthy, but everyone has their ideas. In the end some kind of compromise will have to occur. It was good to see Boehner backtrack from his threat of default the other day. Whether that was just words or not remains to be seen, but if both sides don't do better than they did last year we may have another credit rating issue.

[blebs]

But how else will the Elite be able to take over the world and currency if we don't spend money we don't have?

[Roody]

But how else will the Elite be able to take over the world and currency if we don't spend money we don't have?

They did that a long time ago and recently the Supreme Court validated it with their ignorant move on Campaign Finance.

[David]

Obama, Boehner clash at White House over debt-ceiling hike



Someone please explain this to me, I was taught even as a child how to live within my means, it's basic budgeting and economics. Yet the leaders of this country don't get it....... BASIC economics.

Sure, it's easy.

When you are short of money, you borrow.
When times are better you pay it back............. Unless you are trying to buy a presidency with a tax cut.

[SlyOneDoofy]

Sure, it's easy.

When you are short of money, you borrow.
When times are better you pay it back............. Unless you are trying to buy a presidency with a tax cut.

When you are short of money you quit spending.

When times are better you put money in your savings so YOU DON'T HAVE TO BORROW.

The problem is that no one saved money when times were good. The government didn't and we didn't either. I have friends that bought too much house, bought toy haulers, 4 wheelers and new cars and bitch now that they are losing everything. I asked them about savings and they said they have none.

All I can say is that WE, as a nation have become too credit dependent. No one saves any more.

When the average saving of a person retiring today is $50,000. We have a huge problem.

[blebs]

I remember once upon a time, long long ago, where you actually got paid some real interest on savings accounts. Today, there is no incentive to save. Your letting the banks use your money to make them tons of it and they won't even give you a reach around.

[David]

When you are short of money you quit spending.

When times are better you put money in your savings so YOU DON'T HAVE TO BORROW.

The problem is that no one saved money when times were good. The government didn't and we didn't either. I have friends that bought too much house, bought toy haulers, 4 wheelers and new cars and bitch now that they are losing everything. I asked them about savings and they said they have none.

All I can say is that WE, as a nation have become too credit dependent. No one saves any more.

When the average saving of a person retiring today is $50,000. We have a huge problem.

Another perspective, however the nation does not put away money. If government could save, it would be argued that the people are be overtaxed. WE as a nation have always been in debt, save for the Jackson presidency when he dissolved the second national bank.

IN reference to your friends, they like many others were suckered by mortgage brokers twisting reality. That and a poor memory for the cyclic nature of economy.

[David]

I remember once upon a time, long long ago, where you actually got paid some real interest on savings accounts. Today, there is no incentive to save. Your letting the banks use your money to make them tons of it and they won't even give you a reach around.

Indeed