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View Diary: White House calling Republican bluff on debt ceiling (194 comments)

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  •  It's one thing to point a gun at the head of (6+ / 0-)

    Planned Parenthood; it's quite another to point a gun at the economy of the Western World.  The full faith and credit of the US - well, we don't want to go there.

    Join us at the Amateur Radio Group. Serving the Left Side of the Dial since 2011.

    by briefer on Mon Apr 11, 2011 at 03:28:08 PM PDT

    •  and you think they won't be using PP again (1+ / 0-)
      Recommended by:
      wsexson

      as a foil because?

      "Senator McCain offered up the oldest Washington stunt in the book - you pass the buck to a commission to study the problem." - Senator Obama, 9-16-2008

      by justmy2 on Mon Apr 11, 2011 at 03:33:33 PM PDT

      [ Parent ]

      •  They can use whatever they want... (3+ / 0-)
        Recommended by:
        arizonablue, hester, vigilant meerkat

        the point is that this time instead of "the budget" they're messing with tanking the whole economy and making the US default for the first time in history.

        Do the Repubs really want to be seen holding a gun to the head of the whole economy?

        Join us at the Amateur Radio Group. Serving the Left Side of the Dial since 2011.

        by briefer on Mon Apr 11, 2011 at 03:35:24 PM PDT

        [ Parent ]

    •  Didn't all the budget stuff have to do with (0+ / 0-)

      the debt ceiling?  Why the change now?  Make the boo-boo better?

      The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

      by accumbens on Mon Apr 11, 2011 at 04:26:47 PM PDT

      [ Parent ]

      •  No...it didn't. (1+ / 0-)
        Recommended by:
        vigilant meerkat

        Join us at the Amateur Radio Group. Serving the Left Side of the Dial since 2011.

        by briefer on Mon Apr 11, 2011 at 04:48:51 PM PDT

        [ Parent ]

        •  So what was all that Friday night deadline about? (1+ / 0-)
          Recommended by:
          briefer

          The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

          by accumbens on Mon Apr 11, 2011 at 04:55:48 PM PDT

          [ Parent ]

          •  The Friday night deadline was for the budget. (0+ / 0-)

            If the budget wasn't passed, then non-essential parts of the government would have to shut down.  However, mandatory obligations, like debt payments, would continue.  If the US gov. shuts down, it's embarrassing, but it only directly affects the US (parks close down temporarily, etc.).

            If the debt limit isn't raised, then the government simply has no way to pay ANYBODY past a certain point.  The full faith and credit of the US government is implicated.  All those government bonds that everyone thought was "the safest investment in the world"?...those can default.  That implicates everyone's savings/pensions, the value of the dollar, payments to creditors.  The "payments to creditors" part is probably the worst.  All those Tbills we've been selling to China???  They go into default and China refuses to buy any more.  The world economy teeters... At least that's how I understand it.

            That's why folks have been calling it "Armageddon."  It's also why I think that the Repubs would look like fools threatening to not approve the rise of the debt ceiling.  ["look like fools"...what was I thinking?]

            Good diary on it here.

            Join us at the Amateur Radio Group. Serving the Left Side of the Dial since 2011.

            by briefer on Mon Apr 11, 2011 at 06:13:38 PM PDT

            [ Parent ]

            •  To paraphrase my response to another comment ... (0+ / 0-)

              The debt ceiling needed to be raised by midnight on Friday. The Republicans held the vote on raising the cap hostage to getting budget cuts for 2011 and policy changes.  Obama pre-emptively cut $40 from his own budget for 2012.  The repubs insisted on more for this year (2011) and that led to $38.5 B in cuts and some other issues being enough to get an extension of the cap.  That's how I see it.  

              The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

              by accumbens on Mon Apr 11, 2011 at 07:14:43 PM PDT

              [ Parent ]

              •  You might research the difference (0+ / 0-)

                the budget and the "debt ceiling."

                Join us at the Amateur Radio Group. Serving the Left Side of the Dial since 2011.

                by briefer on Mon Apr 11, 2011 at 07:21:55 PM PDT

                [ Parent ]

                •  The Friday night vote was for the debt ceiling. (0+ / 0-)

                  It was not for the budget.  They were working against the cap deadline.  The budget does not have a deadline as far as I know.  The Republicans got Obama and the Dems to reduce the 2011 budget and pass policy issues in return for voting to extend the cap, except the extension is for a short period of time and will soon be debated again.  And the 2012 budget is another matter.

                  Anyways, thanks for your help.

                  The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

                  by accumbens on Mon Apr 11, 2011 at 08:17:02 PM PDT

                  [ Parent ]

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