Posted on 07/13/2011 4:23:34 PM PDT by Nachum
GOP aide tells Fox today's WH meeting was "most tense of the week." - Cantor says it "ended abruptly with POTUS walking out."
Reported on Twitter a few minutes ago.
(Excerpt) Read more at toddstarnes.com ...
All of those were caused by speculators taking advantage of under 8% minimum margin requirements (MMR) for futures trading, which unfortunately ended up causing inflation that finally came to a head when Lehman Brothers collapsed in September 2008.
Remember the 1987 stock market crash and the 1997-1999 Asian financial crisis? And how that had no significant effects on the US economy, thanks to Glass-Steagall in place to protect bank assets? It's time to re-impose Glass-Steagall to break up the "too big to fail" investment banks and to protect conventional bank assets. Indeed, if Glass-Steagall was never repealed in 1999, the collapse of Bear Stearns and Lehman Brothers would have little effect on the American economy, since bank assets--protected from the ups and downs of the stock market--becomes the "economic backstop" to hold up the economy as those failures are worked out of the system.
I so miss having an adult in the White House.
I think you’re right. Did you see the Wall Street Journal piece on this today? I wasn’t too happy about McConnell’s idea at first, but the Journal made some good points about it. Here’s the link to the piece in case you didn’t see it: http://online.wsj.com/article/SB10001424052702303678704576442231815463502.html?mod=WSJ_Opinion_LEADTop. Like they point out, I don’t see any other way out of this mess short of Obama and Biden being removed from office.
I listened to McConnell and Laura Ingraham today and he was very persuasive. It is Obama’s economy and he owns it. That is what the GOP has over him and they have to beat him like a drum with it.
I read the WSJ piece today.
It is 100% wrong.
The premise of the whole piece is the best the Republicans can do is agree to a deal like McConnell’s because the debt ceiling will be raised anyway, and if we oppose the debt ceiling increase, and Obama gets to pay bills in the order that he wants to pay them, Republicans loose.
This premise is based on two false assumptions:
1. The debt ceiling is going to be raised anyway. This is an incorrect assumption to use to begin negotiations. Think about it, if the beginning of the negotiating position is that the debt ceiling is going to be raised no matter what, then what is the point of negotiations? The whole point of this exercise is that if the Democrats become convinced enough that “crazy” Tea Party influence might actually cause the Republicans to not raise the debt ceiling, then will give Republicans the concessions they want. THERE IS NO OTHER LEVERAGE OVER DEMOCRATS. We need Democrats to be frightened enough of the “crazy” people who are willing to not raise the ceiling, otherwise we’re toast, so this premise is a non-starter for negotiations to succeed.
2. If the ceiling is not raised, Obama will spend the money however he wants. This is not true. Obama will be constrained by political considerations just as much as anyone else.
For these two reason’s the WSJ’s normally level-headed editorial board should be chastised.
The idea is quite simple a sell-out and dumb.
If we follow the McConnell plan we will definitely help Obama get elected, because people like me, that don’t want to see the limit raised under any circumstances (and don’t let MSNBC fool you, there are a lot of us) will be really, really, really pissed at the Republican Party, and Obama will get reelected.
McConnell, quite simply, is a real p**sy.
If the GOP backs down, they will own this whole thing forever.
Mark my words down.
And just why would the Repubs in the House agree to giving up their majority power? Better...pass a Repub plan and give it to the DIM-controlled Senate and DIM Prez to come to grips with the problem. If they don’t by the purported end-of-the-world-as-we-know-it date (Aug 2) cutting must begin. CFall this fool’s (nobama’s) “bluff”.
I hear what you are saying.
Let’s assume for a moment the GOP does as you say. On the 3rd of August, Obama tells Americans their SS checks aren’t going out. Military checks aren’t going out. He, with callously, cruelly, and with complete malice withholds these monies, and like Clinton before him says it is the house republicans’ fault.
I remember what happened in ‘95. The Democrats made it look like the ecomomy’s woes were all the GOP’s fault and it helped propel Clinton to a second term.
The Dems control the major news outlets, have a propaganda machine poised and ready to run this exactly the same way to the independents in the middle for the next election. They are DROOLING for this to happen. Why do you think Obama is about to have a melt down? Because the GOP isn’t giving this to him.
I agree with you.
I don’t doubt your sincerity, but consider this:
“Obama tells Americans their SS checks aren’t going out. Military checks aren’t going out. He, with callously, cruelly, and with complete malice withholds these monies, and like Clinton before him says it is the house republicans’ fault.”
He won’t. But if he does, tough darts. But he won’t. Ask yourself this: If what you are describing caused everyone in Congress to loose their seat, but the prize was that we got government cut down to size, would you sign on to that and take your chances with the electorate next cycle on *every* seat in Congress? I know of about 45% of the electorate that would vote the Republicans back in just for having the brass to do this. If they don’t, tough darts, we got spending cuts anyway. Let a Democrat majority start spending again and send the country down the road to ruin. There is your political victory.
“I remember what happened in ‘95. The Democrats made it look like the ecomomy’s woes were all the GOP’s fault and it helped propel Clinton to a second term.”
With respect, we are in a different era. This time the era of big government really is over. We have only fear to fear.
“The Dems control the major news outlets, have a propaganda machine poised and ready to run this exactly the same way to the independents in the middle for the next election. They are DROOLING for this to happen. Why do you think Obama is about to have a melt down? Because the GOP isn’t giving this to him.”
Dems do control major news outlets, but you don’t need to fear that. You need to fear letting Democrats and liberals set the tone and the agenda. Even with control of those outlets, people are seeing through that tripe.
We need to have the brass balls to do this and the Right will get rewarded for it.
Obama is hoping we cave to fear.
Look. Legislation is being introduced to determine who gets paid first, and *the fat is getting cut*.
*Cutting excess spending is our friend.*
‘He won’t. But if he does, tough darts. But he won’t. ‘
We will have to agree to disagree on this point. He is basing his entire posture on this. Everything here is calculated. He doesn’t merely want the GOP to withhold the money, he needs it.
‘With respect, we are in a different era. This time the era of big government really is over. We have only fear to fear.’
I wish it were that simple. Patronage politics is entirely based on forcing those who take your money to vote for you to get the hand out. He is playing this game with SS exactly as Clinton did. We would very much regret ignoring our history if the GOP wants to win in November IMHO. I have seen this growing up in Chicago. I see it in the way this bunch is running things now. It is entirely predictable.
Like it or not, I think they will indeed have an impact on the voters if the GOP hand it to them here. It is not only fear, it is a respect for past experience and not making the same mistake twice.
*Cutting excess spending is our friend.*
Yes, it is. But these Dems are only covering their hind quarters in an election year.
Obama and Bernanke are talking second stimulus already. Until I see different, it is business as usual.
This is the email I sent to Boehner a few minutes ago-TITLE:The Petulant Marxist Hissy Fit: I watched with great interest the hissy fit thrown by B.H. Obama as He stormed out of the meeting today. This swooning ,which is nothing more than a ploy, was playing to his propaganda wing also known as the lame stream media.Stop meeting with this fool . I would like to suggest that you convene the House and Senate Republicans and send a bill to this hormonally challenged twit Let him veto it IF HE DARES !. NO NEW SPENDING !!! CUTS ONLY !!!! The time for b.s. is OVER. This is just a suggestion to the Republicans... stop kissing his A_ _ and start kicking it. You can be sure that the citizens of this republic are watching and will be very glad to send the Obama enabling republicans HOME if they once again fold like a cheap tent... I will be glad to ship some testicles and back bones to Washington If the republicans are experiencing a deficit at this time...Send a bill to authorize paying social security and the military AND NOTHING ELSE. Scream to the media every day until Obama either signs the bill or has a coronary event.. WE ARE WATCHING YOU AND WE WILL NOT FORGET. signed (CONTRARIAN)
“He is basing his entire posture on this. Everything here is calculated. He doesn’t merely want the GOP to withhold the money, he needs it.”
He’s bluffing. If he has the choice to cut a number of things, and he *decides* to not send out social security checks, that’s going to be a bitch to explain. Keep in mind there are a *lot* of things that he could withhold before he withholds social security checks. This is a play on fear. And I must admit, it is working, starting with McConnell.
“I wish it were that simple.”
It is.
“Patronage politics is entirely based on forcing those who take your money to vote for you to get the hand out.”
Well if that’s true, the current Republican majority in the house is based on a “patronage” of taxpayers. We taxpayers want a return on our “patronage.” This is just as far-reaching, maybe more far-reaching than other forms of patronage.
“He is playing this game with SS exactly as Clinton did. We would very much regret ignoring our history if the GOP wants to win in November IMHO.”
I respect your opinion but exactly the opposite is true. If the GOP wants to win they need to be bold. Here is why. All Republicans and more *independents* than is realized are concerned about fiscal profligacy. The degree of concern about fiscal matters is being underestimated in the current dialectic. If you want to capture independents, you need to move to the *right* fiscally.
“I have seen this growing up in Chicago.”
Chicago is not a good gauge for the country.
“Like it or not, I think they will indeed have an impact on the voters if the GOP hand it to them here. It is not only fear, it is a respect for past experience and not making the same mistake twice.”
If the GOP acts spineless here, conservative independents and the rest of the Right is going to be really really pissed. Republican leadership needs to learn the lesson that the Tea Party has been trying to teach, and finally stand on principle.
What is the fastest way to cut government spending?
Don’t raise the debt limit.
It’s really very simple.
Republicans should not think like Liberals (with fear.) Irrational fear is for loosers (the Left.)
My name is NYCslicker and I approve that message.
Thanks, I agree, now if I can just get the dents out of my keyboard and wipe the foam off the monitor, I will get a glass of North Carolina Ice tea and COOL OFF.
From Illinois?
Check this out:
http://angrywhitedude.com/2011/07/congressman-joe-walsh-takes-it-to-obama-quit-lying/
Yeah. Great hearing Joe Walsh. Doesn’t mince words. :)
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