GOP scoffs at Obama's "no-negotiation" vow on debt
by CHARLES BABINGTON,Associated Press
Jan 07, 2013 | 3177 views | 9 9 comments | 4 4 recommendations | email to a friend | print
FILE - Sept. 9, 2011 image of President Barack Obama (AP Photo/Eva Russo - Richmond Times Dispatch)
FILE - Sept. 9, 2011 image of President Barack Obama (AP Photo/Eva Russo - Richmond Times Dispatch)
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WASHINGTON (AP) — President Barack Obama says he absolutely will not let Republicans use a debt ceiling crisis to extract deeper federal spending cuts. Congressional Republicans of all stripes say Obama has no choice but to accept the spending cuts they want in exchange for a hike in the national debt limit.

The two sides might reach a mutual agreement before the matter becomes a crisis in March, or possibly late February.

But the tough talk suggests this year's political fight could be even nastier and more nerve-grating than the recent "fiscal cliff" showdown. It revives memories of the 2011 brinkmanship that triggered the first-ever downgrade of the nation's credit-worthiness rating.
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tman61
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January 10, 2013
Their is a family I know. The husband and wife have a combined income of 95k. They live in a 500k house, drive two new cars, take a vacation every two months, both kids go to private school, every credit card is maxed out and the house has three mortgages. Both owe their parents. Worst of all they owe tough loan sharks a large sum. They both smile to their friends and pretend everything is ok. The husband is Obama. The wife is congress. We are the kids. If the man is providing the leadership in the family he is supposed to the family would be ok. The husband is a drunkard, blowhard, who is incompetent at his job. The wife is financially irresponsible. The kids just stand by thinking the parents wil make everything ok
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wheninrome
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January 10, 2013
Do any of you realize that the debt that we may not be able to repay is debt that was APPROVED spending by Congress? Put that in terms of your home.

Husband: Honey, I need a new car.

Wife: OK, get one.

Fast forward to payday, where wife holds the checkbook.

Husband: Honey, the car note is due.

Wife: You can't pay it unless you stop buying food and shaving cream.

Wow.
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tman61
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January 09, 2013
Elephant whip, I didnt care for Bush that much either. He spent way too much as well. We will eventually reach the point where our debt is too big a percentage of Gross Domestic Product. We will reach financial calamity (sp). We have elected two Presidents in a row that are overwhelmed by the job and not qualified. All the while we subjects stick our heads in the sand. We root for our political side as if we are rooting for a football team. Rediculous. Stupid
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ElephantWhip
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January 09, 2013
"President Obama wants the proletariat to rise up against the bourgeosie (sp?). Does this strategy sound familiar to anyone?"

Yeah: reminds me of the Boston Tea Party and the American Revolution. Unfortunately the modern "tea party" has rewritten history for its beloved masters, the Koch brothers and their ilk.

Here's the difference now compared to the British Empire: back then, private interests--i.e., royalty--controlled the government and screwed the lower classes (sounds kinda like the Bush Adminstration, eh?).

Now private interests are losing control of the government, but want to continue to screw the lower classes privately. So they set up fights over issues to choke the government when, in the past, they did not have any problems with those issues.

Example: the soon-to-be "tea party" types borrowing money without willingness to be held accountable for the debt for the AFGHAN WAR and the IRAQ WAR. Debt didn't bother any "tea party" types back then (of course, their "supporters" got cuts from the expenditures). Now, if we need more money to simply run the country, these "tea party" types are up in arms.
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JoMadden
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January 09, 2013
Private interests are losing control of government?

really?

really?

Naive or misspoken I hope.

The Afghan war has cost us $550Billion since 2001. The debt is almost 17 TRILLION. Pick another reason for the Obama debt.
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SillyRoman
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January 09, 2013
Private interests have NOT lost control of the government... They pull the strings for Obama too...
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ribeyes
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January 07, 2013
Obama is an idiot. Unfortunately, we all are going to pay.
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tman61
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January 07, 2013
President Obama wants the proletariat to rise up against the bourgeosie (sp?). Does this strategy sound familiar to anyone? That is what rich people dont pay their fair share is code for. God help this country. We are in some kind of mess. Think about it. Weve had hundreds of thousands of people without homes and jobs in the northeast awaiting aid while our congressmen lobby for money for their state. We are fast approaching oweing so much money where we will never be able to pay it back. THis is a strategy, to take our country to a financial crisis. Think of the leaders who paved their way to "greatness" on the back of the argument the poor must rise up. We are so stupid. We are subjects, not citizens. Very sad.
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JoMadden
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January 07, 2013
Thanks for clearing it up, if they make the movie, we'll know it's art imitating life.

The scary thing is half of us don't care and the other half are blind to it.
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