Posted on 07/13/2011 5:01:37 PM PDT by The Magical Mischief Tour
The Petulant Teleprompter: Obama "Abruptly" Walks Out Of Debt Negotiations
Update: OBAMA: "THIS MAY BRING MY PRESIDENCY DOWN BUT I WILL NOT YIELD ON THIS" -- REPUBLICAN AIDE; Perhaps Obama may want to put the country ahead of his own interests this one time...
Here is the relevant section in the 14th Amendment that the Constitutional scholar is likely about to invoke. The bolded section is what is largely being ignored.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. Odd how the debt inccured for payment of pensions is being nicely trampled to make way for debt incurred for payment of Federal worker bonuses...
Orignal:
So far the Moody's threat is having precisely zero impact on the debt ceiling farce, with just 8 days left until July 22. But the latest development is certain to jar both S&P and Fitch, not to mention Dagong, out of hibernation. Reuters reports that President Barack Obama abruptly ended a tense budget meeting on Wednesday with Republican leaders by walking out of the room, a Republican aide familiar with the talks said. The aide said the session, the fourth in a row, was the most tense of the week as House of Representatives Speaker John Boehner, the top Republican in Congress, dismissed spending cuts offered by the White House as "gimmicks and accounting tricks." Either Congress has become the best orchestrated reality TV show in history or, and this is a big or, the market should really consider panicking soon.
Some additional color:
Cantor relayed this quote: "Eric, don't call my bluff," Obama said. "I'm going to take this to the American people." More Cantor: Obama said that the group has until Friday to figure out "which way we're going." They'll meet tomorrow. Odd. Last time we checked far more Americans didn't want a debt ceiling hike than did:
Overall, voters oppose raising the debt ceiling by a strong 45 percent to 32 percent margin, with the remainder undecided.
But the real eye-opener in the poll is the stiff Republican and swing-voter opposition to a deal. Sixty-seven percent of GOP voters and 51 percent of independents think raising the debt ceiling is a bad idea.
Democratic voters, by comparison favored raising the debt ceiling by a 44 to 21 percent margin. Interestingly, 35 percent of Democrats say they are either undecided on the question, or don’t know enough to have an opinion. Perhaps Obama believes GM union members are a representative segment of the broad US population...
What an egotistical jerk.
So his agenda is more important than the welfare of the nation.
He should take his dollies and go home.
OBAMA: “THIS MAY BRING MY PRESIDENCY DOWN....”
Close enough for me......
—Dear God Almighty, please answer that mans prayer.
Well, good. That provides a shred of hope.
The list, ping
Let me know if you would like to be on or off the ping list
The ntion that the US will default is based on ignorance of the facts.
The IRS collects enough money monthly to pay SS, medicare, medicaid, military pay, the interest on the debt and has 39 billion left over to prioritize among essential departments.
On Brian Kilby’s show this morning.
-PJ
Bankrupting the United States is some sort of nobel cause ...huh, zero????
He obviously thinks he’s God - here to decide who wins and who loses. I think he’s off his rocker.
I'm touched...(sniff).
Cantor is also fighting for his political life.
Excuse me but there are people fighting for their lives. Their real lives. Anyone, absolutely anyone, who thinks that "political life" has any value at all, especially in the face of those who really are fighting for their lives, is below human dignity.
Eric Cantor can be damned if he doesn't speak and act the principles of conservatism. That in fact is the problem.
Well I guess it's too late to blame GWB so he needs SOMETHING to blame it on.
Do it, jug-ears. I dare ya!
“Allowing the USA to default is madness. “
I agree with you. Playing chicken is a crappy way to run the country. It’s magical thinking to imagine that fear of defaulting will turn Democrats into Republicans or vice versa.
I support using the debt ceiling as an opportunity and excuse for negotiations. But the reality is that the voters have elected a Republican House with Democratic President and Senate, and playing chicken with defaulting doesn’t change that.
Why are they even meeting with him? They should be in the House passing a bill to send to the senate. I do not like this behind closed doors BS.
Try telling your banker you aren't going to pay him because the wife is a spendthrift..
Hey Dumbo, the Congress represents the people. Why do you think they call them REPRESENTATIVES?
it was doomed when he swore to uphold the Constitution.
“
“Eric, don’t call my bluff,” the president said, warning Cantor that he would take his case “to the American people.” He told Cantor that no other president — not Ronald Reagan, the president said — would put up with the treatment he was getting from the House majority leader. “
““Obama lit him up. Cantor sat in stunned silence,” said an official in the meeting. “It was incredible. If the public saw Obama he would win in a landslide.” “
“Obama told Cantor that he would either have to agree to tax increases or give up on his demand that the debt hike be matched dollar-to-dollar to the cuts — that is, $2.5 trillion in deficit-reduction over 10 years in exchange for a $2.5 trillion hike in the debt ceiling. “
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
