debt ceiling, what is next?

[bhunter]

Originally Posted by JCricket

Right now I don't care less who is to blame. It is the solution I want to see.

According to last night, Obama's plan "might" cut up to 1.5 trillion over the next ten(IIRC) years. The GOP is saying they will 6.2 trillion in the next four.

$150B a year which is very little given his massive increases over the last couple of years. How about rolling back to 2003 levels? I don't recall all the dire consequences happening back then.

What he GOP didn't say is what they would cut to get that level. I am sure it isn't defense. I also bet they are not going to raise taxes. That leaves mostly medicare, medicaid, SS, unemployment, and welfare programs to be cut. I have balanced many buidgets in my day. I cannot see a 6.2 trillion change without MASSIVE cuts. So they are either lying, or they are lying.

Where is all the money going that Obama has spent over the last 2.5 years?

I might be able to believe Obama's plan if he would just give a high level outline or something on it.

He can't give any detail because he doesn't really have a plan. He's all about smoke and mirrors and demagoguery. Thus, making Obama look good and his political opposition look bad. There is no low too low for Obama and his minions. Recently, Sheila Jackson Lee pulled out the race card over the debt limit. Recall all the hoopla over the downgrade threats from Moody and S&P and the talking heads spreading fear last week. These are the same idiots that failed to notice anything wrong in the mortgage industry and banking in 2008. The world isn't going to end and SS checks are not going to stop if the debt limit isn't extended.

Also, remember that this problem exists because of the direlict of duty by the Pelosi controlled house. Obama is also complicit for not putting pressure on Congress to get a budget done in a timely manner. You also may recall that Obama himself refused to vote in favor of a debt limit increase for the Bush administration.

When your budget is 175% of your estimated revenue, I'd say you have a severe spending problem. That coupled with a simultaneous shrinking revenue source caused by Obama's fear and uncertainty campaign against business and you have an intractable problem. I can easily envision a financial vortex, much like a toilet bowl, sucking the vitality out of the populace if the Obama regime gets its way.