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The Truth Behind The Debt Ceiling Debate

Updated on October 12, 2015

The Truth Behind the Debt Ceiling Debate

The debate going on now regarding the conditions for raising the United States Debt Ceiling have been predictably political and murky. It is true that progressive Democrats have emphasized protecting social programs and raising revenues. At the same time conservative Republicans have argued for massive spending cuts especially for social programs with no revenue increases. This is a good and proper debate for our country to have. Is it the proper debate to have right now and under these conditions? Should raising the debt ceiling be tied to these negotiations? There is much misunderstanding and many false statements being conveyed regarding the consequences of not raising the debt ceiling. There are many leaders who are positioning themselves politically and rhetorically in ways only meant to advance their own agendas and ambitions. The American people should not be used as pawns in their political game. This is a time for statesmen and stateswomen. The decisions being made now will affect many millions of people adversely in some manner.

I will attempt to describe to you in this article what the debt ceiling is and what it means to all citizens of the United States. Then I will analyze the positions of the two parties. Also I will show which leaders in my estimation are attempting to be productive in these proceedings and which are not. Finally I will offer my own solution to both this immediate problem as well as the longer term budget issues. I hope I will succeed in answering the questions I have posed to the satisfaction of my readers as well as any others you may have regarding these issues. The American people need to understand what is going on regarding these debates and how it will affect all of us.

What is the debt ceiling? It was first created in late 1917 in the amount of 11.5 billion dollars. The reason for its creation was for the issuance of bonds and other debts to pay for the United States involvement in World War I. It did not significantly rise again until the early 1940s to fund World War II. This debt ceiling has been raised 102 times in its 94 year history. The debt ceiling represents the loan obligations which our country may incur past and present which remain outstanding. This ceiling needs to be raised when it is estimated that we will have a higher level of these obligations due to budgetary choices in the near future.

All of the past debt ceiling increases have been passed very easily. Some Congressional members voted against it at times to protest one issue or another. Senator Barack Obama did this before he was elected President. None of these votes were cast when the vote was seriously in question. This is because everyone involved knew that the consequences to the U.S. would be dire if the debt ceiling was not raised. Our credit rating would drop precipitously if we failed to pay our debt obligations. The estimated U.S. loan interest payments for 2011 are approximately 420 billion dollars. These payments could easily double if our credit rating was dropped substantially. Interest rates would also rise for ordinary citizens as well as state and local governments because these rates are pegged to the Treasury rates.

It is unclear what budget expenses would be paid first and in what order they would be paid. Loan interest payments would probably be paid first both because we are legally bound to do so and because the economic consequences would be too expensive and damaging. Our troops may not get paid as well as other federal employees. Social Security, Medicare, Medicaid, and all other social program payments might also be held back. The reason that we might need to withhold these payments is that our expenses outstrip our revenues. Only 56% of our current expenses are covered by our current revenues. So choices will have to be made if the debt ceiling is not raised. What will the U.S. Treasury and the Administration do? This is virgin territory. No one really knows what might happen. I will address this further later in this article.

Both the Democrats and the Republicans have their political stances over this issue. They also both have their own party divides. The Democrats are led by President Obama and Senate Majority Leader Harry Reid. They are seeking significant spending cuts along with revenue increases. These increases involve mostly the closing of tax loopholes and corporate tax breaks. They are currently advocating for a deal that has a 4-1 advantage of spending cuts over revenue increases. House Minority Leader Nancy Pelosi and her progressive wing want much lower social program spending cuts than the President has agreed to.

The Republicans have a more defined split within their party regarding these negotiations. The newly elected Tea Party faction of the House of Representatives number at least 87 and their clout is very large. They are insisting on massive social program spending cuts with absolutely no revenue increases of any sort. Grover Norquist, the leader of the organization "Americans For Tax Reform", has the signatures of almost every Republican on his no new tax increase pledge. He has threatened to campaign against any of them if they break that pledge. They have effectively abdicated their power to compromise to this non-elected individual. Some even refuse to vote for a debt ceiling increase no matter what deal is agreed upon. Many have stated that they do not even think it is necessary.

Most of the Republican leaders in the House and Senate have been much more forthcoming in their efforts to compromise and reach a deal. They seem to realize what the terrible consequences will be if they fail in their efforts to reach a deal and raise the debt ceiling. They had been negotiating with Vice President Joseph Biden for weeks and progress appeared to be moving steadily forward. Even Senate Minority Leader Mitch McConnell seemed to be on board. He famously stated in 2009 that his main goal was to defeat President Obama in 2012. Unfortunately House Majority Leader Eric Cantor threw a monkey wrench into the talks when he stormed out of a session when the elimination of corporate tax breaks were insisted upon by the Democrats. It appears that he has picked up the leadership mantle of the Tea Party wing of the Republicans in the House. His no revenue increase stance has stopped Speaker Boehner in his negotiating tracks because he knows he will not have the votes for any compromise with President Obama. Cantor's new maneuvers have the look of a naked power grab. His eyes are clearly on the Speaker's job. This has left the chance for any significant budget deficit reducing bill in tatters. Senator McConnell and Senator Reid now appear to be developing a bill with Speaker Boehner's approval that will allow the President to raise the debt ceiling incrementally. Much smaller spending cuts will be attached to the bill.

Let me state that I do not believe that this debt ceiling increase question should be tied in any way to the budget negotiations. I feel that the United States Treasury department should be able to pay our bills and debt obligations automatically without any artificial limit derived from the World War I era. It can be eliminated if our political leaders had the will and inclination to do so. Just imagine if you spent money on your credit card and then called the company to state that you cannot pay your balance because you refuse to raise your personal credit limit. You would quickly find yourself in court. Actually, Amendment 14 of the United States Constitution states that the validity of the public debt shall not be questioned. I feel that President Obama should use this as a basis to pay its debts in the event Congress fails to pass the debt ceiling increase. That being said, these budget negotiations which are tied to the debt ceiling increase are going nowhere.

Why are both sides not acting more like adults and statesmen? This is especially true of the Republicans. Obstinately sticking to their no new tax revenue stance is similar to a child throwing a tamper tantrum until he gets what he wants. Both sides must compromise to reach a deal. President Obama seems to be bending over backwards to do so. The Tea Party Republicans refuse to compromise. Senator McConnell began drafting his emergency legislation to give President Obama the power to raise the debt ceiling after he received a letter from 400 corporate and Wall Street leaders urging him to pass legislation to increase the debt limit. They argued that the consequences to the American economy would be catastrophic to even flirt with not doing it. Congress had to be scolded into doing this which is proof that we have a totally dysfunctional government. President Obama originally wanted a 4.5 trillion dollar deficit reduction bill over ten years. This would have had some revenue raisers in it by way of eliminating corporate tax breaks and other tax loopholes. The Republicans refused this and then offered a 2.5 trillion dollar plan of only spending cuts mostly through entitlements. Now the only likely plan to go through is Senator McConnell's minimal spending cut plan of around 1.5 trillion dollars over ten years which allows the President to raise the debt ceiling himself. This piece of legislative trickery will cause the President to submit to Congress his intent to raise the debt ceiling two more times before his term is up. The idea being that the Republicans will vote "Nay" each time and he will then veto and raise the ceiling. This way the Republicans are on record saying no but have actually acquiesced to the President. Is this a proper way to handle this problem?

I say no but it is better to do this and avoid the upheaval of not raising the debt ceiling. My proposal, though the Republicans in the House would reject it out of hand, comes out of my Hub, "My Budget Alternative To Rep. Paul Ryan's Path To Survival Of The Fittest". I would use the 1.3 trillion dollars of savings in waste and fraud over ten years in defense and entitlements from that article as my spending cuts. Then I would raise 1.2 trillion dollars in revenue increases. These would be obtained by eliminating all oil, farm, and ethanol subsidies along with eliminating the state and local income tax deduction and the home mortgage deduction for homes worth more than 1 million dollars. My deficit reduction package would total 2.5 trillion dollars over ten years. Of course this does not come close to balancing the budget.

Unfortunately I do not see any way of reaching a budget balancing deal until after the 2012 election. This is why I believe that election will be so crucial to our future. The American people need to tune into this debate which is being conducted now and will carry on through the election. We cannot afford the gridlock and bickering going on in Washington D.C. right now. Our candidates must hear our educated voices on these budget issues. The leaders we elect must then honestly debate these issues and come to a common sense compromise to balance the budget. I hope this article made clearer what is going with the debt ceiling question and the budget deficit reducing debates. Please get involved and educate yourself further. Let your national leaders know your views on these subjects. Also please vote wisely in 2012. Once again our future and our children's futures hang in the balance.

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      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, The Washington Examiner is a right wing mouthpiece. Save your sites. The wealth and income gaps have been spreading wildly for at least 20 years. It is destroying our economy.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      hubbers

      The rich

      3/3/15 Proof that rich pay more than their fair share of taxes http://www.washingtonexaminer.com/proof-that-rich-...

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, Do you really think that the financial meltdown of 2008 was caused in 2007 and 2008? If you do, your ignorance of financial affairs is immense. It started in the late 1990's when Glass-Steagall was gutted. Both parties are to blame for that. The Bush Administration and his GOP Congress performed NO regulation for 8 years on the financial sector. Please read my Hub on all the causes. I do not have the time or space to list them here. Blaming it on the Democrats in 2007 and 2008 is sheer lunacy.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      '' Bush Administration looking the other way. '' Bush don't make law Congress does 2007 2008 D's controlled both houses and set the dialog.

      You need to do a better job of research.

      PLEASE tell me what I am trying to prove to you.

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, Do you actually think the partisan sites you put on this Hub prove your point? They prove nothing. I am not going to put sites on here because they prove nothing. Unemployment is way down, the stock market is way up, and GNP and GDP have been strong. There are weak points as there always are. Yes, the recession was due to greed and fraud in the financial markets and the Bush Administration looking the other way. Now the GOP wants to gut Dodd-Frank because they are in bed with them.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      H S

      Where are you getting all your information, I have requested your sources to be made public.

      The recession was all about money, greed and fraud by the financial markets and the government by looking the other way.

      I am really starting to question your ability to find the truth.

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, You cannot place blame on the Democrats for the 2008 financial meltdown and resulting recession. The GOP were fully in power for 6 years prior. In this instance you are being a total phony. The Bush Administration took regulation totally off the rails and the financial industry ran wild. Read my Hub on this. There were many culprits. Now the Republicans are trying to gut the Dodd-Frank law that was put in place by Democrats to help curb financial abuse. The Republicans are now fully in bed with Corporate America because they are now fully funded by them. They were a main cause of that devastating recession and the Obama Administration has created the groundwork for a recovering economy and brakes in place to keep us from going over the cliff. You and your corporate buddies want to take us back to Armageddon.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HSchneider 3 years ago from Parsippany, New Jersey Hub Author

      Jon, Again I agree that in every government there is a lot of waste, fraud, and duplication. I am all for having this sought out in the budget and eliminated. I also feel we need a jobs and stimulus program to get that money into the right hands to create jobs and invest in our future. I wrote another Hub about this very subject. I am for smart budget cutting and smart investing.

      2015 still talking about jobs that have not come as promised by BO and D's

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      General Election 2010 https://hubpages.com/politics/GeneralElection2010-... Anew day in the House of Representatives.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      '' taking our economy back to the depths of the Great Depression'' Dec 2007 to June 2009 FACTS 2007-2008 D's win majority control of both the House and Senate 2009-2010 D's win presidency and super majority control of Congress ( House and Senate) case closed for now

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, Fox calls themselves fair and balanced. No one else does. The economy is stronger but incomes are lagging due to corporate cheapskates. But I think WalMart's wage hikes will change all of that. Jon you are a true believer in taking our economy back to the depths of the Great Depression.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      5/4/14 Unemployment a crisis for youth http://www.usatoday.com/story/opinion/2014/05/04/e...

      12/17/14 Why the middle class is not feeling a recovery http://www.pbs.org/newshour/making-sense/why-the-m... REALLY

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      Fox News has an answer '' fair and balanced '' http://www.foxnews.com/us/2014/07/05/5-reasons-why...

      still waiting for links to your favorite information sources

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      '' midst of a strong economic recovery'' YOU APPARENTLY DON'T UNDERSTAND THE DIFFERENCE!

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, To fix America’s economic woes, by the way we are in the midst of a strong economic recovery, we need to invest in America not cut its budget to the bone. Listening to recipes from Fox News is a recipe for disaster. Investing in education, infrastructure, and our social safety net is the way to go and they will have immediate and long term effects.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      2/19/15 To fix America”s economic woes, a common language is needed http://www.foxnews.com/opinion/2015/02/19/to-fix-a...

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, You have not provided any reliable information either. Simply articles that you choose to pick because you feel this is proof. They are not reliable at all. I am not delaying nor attacking. I am simply stating that your articles are not proof. It is also intellectually dishonest to simply provide other articles as supposed proof. Oddly the thing that may prove to be the biggest boost to our economy is the WalMart decision to raise their minimum wage to 10 dollars an hour. Wow a corporation that buys into my theory that you give more to the lower classes to stimulate your business and the economy.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      Hubbers

      H S sounds like an old story used by Obama & Co.

      Deny deny deny delay delay delay attack attack attack, that is all.

      H S the articles are not an attack on anyone, just another side of the propaganda coming from Obama and .gov web sites, many of which will be amended a few days later.

      You may have not read the link articles because you have as yet provide information that would effect their reliability.

      still waiting for ???

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon Ewall has struck again with his flurry of worthless right wing propaganda sites proving nothing. Our economy would still be on the floor if we followed you and your compatriots economic prescriptions. As it is, we have had 57 straight months of economic growth. Yes, it could and should be better but Congressional Republicans have blocked the President from fully pumping up the economy. Jon, please stop polluting my Hub with these worthless re-hashed sites. They prove nothing since they come from partisan sites. Add some original thoughts please. You have shown me none.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      hubbers

      6/6/14 CBO Gives Up Trying to Figure Out How Much Obamacare Costs https://www.uschamber.com/blog/cbo-gives-trying-fi...

      7/16/14 House has passed 7 appropiation bills Senate passed 0 http://www.speaker.gov/press-release/house-7-senat... top priorities Jobs & Economy

      Learn more at gop.gov/jobs

      4/30/14 GOP House on Track to Save Taxpayers Nearly $600 Million - See more at: http://www.speaker.gov/general/gop-house-track-sav...

      .

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      hubbers

      2/16/15 Increased FY 2015 Spending Almost Entirely Due To Obamacare http://dailycaller.com/2015/02/16/obamacare-budget...

      7/14/14 The White House Is Bribing Health Insurance Companies http://www.forbes.com/sites/theapothecary/2014/07/...

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      hubbers

      Supreme 12/18/14 HHS Stalling Release Of Documents About Obamacare Subsides Ahead Of Court Case http://dailycaller.com/2014/12/18/hhs-stalling-rel...

      12/5/14 Government Waste Continues http://www.cato.org/blog/government-waste-continue...

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      hubbers

      11/7/14 Statement on Supreme Court Granting Cert in King v. Burnell http://www.forbes.com/sites/michaelcannon/2014/11/... Obama administration has been spending billions of unauthorized federal dollars,

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      hubbers

      12/5/14 The Obama Administration’s Transparency Website Fails to Report $619 B in Federal Spending http://www.theblaze.com/stories/2014/08/05/the-oba...

      GAO reports $619B missing from 302 federal programs

      where is the money?

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      hubbers

      10/2/14 Obama in 2006: ‘ Increasing America’s Debt Weakens US Domestically & Internationally’ http://www.speaker.gov/general/obama-2006-increasi...

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HSchneider

      Boy, you are way out there somewhere, you truly need help. It's all about jobs in the private sector, sticking businesses with more regulations and paper work and taxation don't help to provide JOBS.

      NOTE! today there are more small businesses closing up than starting up in todays economy. Face the facts, a 30 hr week and less take home pay is not the answer. Close to 50 % of taxpayers pay NO FEDERAL TAXES.

      11/29/14 Fight brewing over Social Security benefits for illegal immigrantshttp://www.washingtonexaminer.com/social-security-...

      2/17/17 Immigration policy set back http://www.usatoday.com/story/news/politics/2015/0...

      4/17/14 Barack Obama Spending Money On Food Stamp Handouts To People In Mexico http://reagancoalition.com/articles/2014/barack-ob...

      More money has not worked, waste is the problem.

      10/16/12 The Federal Budget, 1992-2012 http://www.heritage.org/multimedia/infographic/201...

      Wake up and get by the Obama propaganda, before it's too late!

    • profile image
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      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, If you are willing to cut billions of dollars to the people who need it the most, you will completely destroy their lives and wreck the economy. These people have to spend the money, the rich hoard and hide it. Giving me a Speaker of the House site is worthless. He is a puppet of the ignorant Tea Party.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HS

      '' actually need more spending '' NO, we need less waste of taxpayer money by the administration. My links have showed where the waste is happening.

      Wake up man, find the truth and facts.

      4/30/14 GOP House on Track to Save Taxpayers Nearly $600 Million - See more at: http://www.speaker.gov/general/gop-house-track-sav...

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      The Republicans have no plans for economic growth. Blindly cutting vital programs for those who need them the most would be a recipe for putting us right back into a recession. We actually need more spending for vital infrastructure improvements as well as firming up our social programs. We can earn the money for that by raising income tax rates on the wealthy who are hoarding and hiding their wealth and thus stifling the economy. That is the truth, Jon. Not your cherry picked articles.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      Hubbers

      9/8/14 Our Economic Recovery Is Stuck in the Senate http://www.speaker.gov/op-ed/boehner-timecom-our-e...

      12/17/13 A Plan For Jobs & Economic Growth http://www.speaker.gov/jobs

      COMPROMISE????

      4/21/14 Carney rejects GOP trade offs for unemployment insurance http://thehill.com/blogs/blog-briefing-room/news/2...

      5/4/14 Unemployment a crisis for youth http://www.usatoday.com/story/opinion/2014/05/04/e...

      APPARENT D's PUT ILLEGALS FIRST

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      The problem, Jon, is that the Congressional Republicans are not compromising with the President and Democrats. The President has deported far more undocumented workers than all of our past Presidents. The border has been strengthened to record levels. But the Republicans offer nothing for the hard working, law abiding immigrants who are strengthening our economy and society. So the President took action in this legislative vacuum. The fact of the matter is that the Congressional Republicans fear that demographics are getting away from them and they are right. They know that most of these immigrants will vote Democrat. That is also why they are passing sweeping voter restriction laws. The tide of history is against them and these are the ways they attempt to "stick their finger into this demographic dike". It will not work. So instead they are hijacking the process by placing blackmail into the Homeland Security bill. Shameful. Save your false conservative propaganda sites. The 2016 elections will show all of these faults.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HSchneider

      '' so the President issued his mandate.'' Congress makes law not the President.

      10/22/14 U.S. misinformed Congress, public on immigrant release http://www.usatoday.com/story/news/nation/2014/10/... 2200 illegals freed from jails last year

      BO said’’ I hear you’’ referring to election.Obama immigration https://hubpages.com/politics/ImmigrationEnforceme... 1986 law needs be enforced or amended Obama AG violate the law

      TAKE NOTE

      11/30/12 House passes immigration bill H.R.6429, Senate did NOT VOTE House Bill BO ‘’ I will Veto https://beta.congress.gov/bill/112th-congress/hous...

      The Senate Democrats killed the bill, the press and Obama forgot to tell the public.

      The Constitution is the foundation of our government. ''We are a nation of the rule of law'' Somehow Obama and the Democrats forget !

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, The Congress won't pass Immigration reform so the President issued his mandate. The Republicans have written a Homeland Security bill that will gut it. The Democratic Senators will not allow a vote in its current form and the President will veto it anyhow. They and he will not submit to the Republicans blackmail. I understand fully well what is going on. You just drink the right wing Kool-Aid and spew it right back at me.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HSchneider

      try to understand! the people ( elected members of congress )CONGRESS consisting of the House and the Senate VOTE on bills that generate from the House. The House both D's and R's voted and passed funding, the bill is in the Senate waiting to be debated and voted on. Face the facts, the bill cannot proceed unless there is a vote! R's have 54 votes ,D's not voting kills the bill same as the 40 house bills Reid killed when the D's had majority control.

      Presidents DON'T make law , they enforce law!

      9/8/14 Our Economic Recovery Is Stuck in the Senate http://www.speaker.gov/op-ed/boehner-timecom-our-e...

      12/17/13 A Plan For Jobs & Economic Growth http://www.speaker.gov/jobs

      BO said’’ I hear you’’ referring to election.Obama immigration https://hubpages.com/politics/ImmigrationEnforceme... 1986 law needs be enforced or amended Obama AG violate the law

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, The Republicans are the ones holding up spending on homeland security to reverse his immigration policies. You must get beyond right wing news propaganda outlets like Fox, The Blaze, and others of their ilk.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HSchneider

      There are many many more to be listed. The administration wants more money, they can't account for the money they are spending today.

      Try to get beyond the propaganda being fed to the public by the administration.

      Senate Democrats are holding up funding for the homeland security, wonder why? all Obama D's politics.

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Jon, You consider all government spending to be wasteful and inappropriate. I believe that your consistently listing these right wing media sites as evidence is wasteful. Government has a proper role in protecting the weakest in our country and investing in improvements and defense. They will and should continue to do so.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HSchneider

      '' Smart spending '' like government subsidies ( taxpayer money " paying for Obamacare . Yes sir a fine investment.

      Senator Coburn exposes $9 Trillion WASTE in Gov agencies http://www.youtube.com/watch?v=3tVJ2gqqKWs …Pay Go law http://www.whitehouse.gov/omb/paygo_description

      12/23/14 Admin. Crams Over 1,200 New Regulations Just Before The New Year http://dailycaller.com/2014/12/23/obama-admin-cram...

      11/7/14 World’s largest solar plant applying for federal grant to Pay Off Federal Loan http://www.foxnews.com/politics/2014/11/07/world-l...

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      HSchneider

      '' Smart spending ", how about listing the smart spending . The examples above are spending loaded with WASTE or unaccountable spending by this government.

    • profile image
      Author

      Howard Schneider 2 years ago from Parsippany, New Jersey

      Thank you for your comments, Seraphic and Jon. Our housing bubble indeed was catastrophic to our nation. I hope yours, Seraphic, turns out better. Canada may have to tighten their belts but that alone does not help a recovery. Smart spending, especially infrastructure, can keep the nation afloat. Jon's cherry picked information, all come from his right wing sources. Cutting spending is his only mantra. If America had done that after our financial meltdown, we would still be in a Great Depression instead of a now strong recovery.

    • JON EWALL profile image

      JON EWALL 2 years ago from usa

      seraphic

      '' cut costs and get rid of it '' add govt WASTE!

      8/13/10 USA Today federal workers earning double their private counterparts http://usatoday30.usatoday.com/money/economy/incom...

      Senator Coburn exposes $9 Trillion WASTE in Gov agencies http://www.youtube.com/watch?v=3tVJ2gqqKWs …Pay Go law http://www.whitehouse.gov/omb/paygo_description

      10/16/12 The Federal Budget 1992 2012 http://www.heritage.org/multimedia/infographic/201...

      12/5/14 The Obama Administration’s Transparency Website Fails to Report $619 B in Federal Spending http://www.theblaze.com/stories/2014/08/05/the-oba...

      12/9/14 IG: IRS paid $6 billion in bogus child tax credits http://bigstory.ap.org/article/a4e7140ab8864d57925...

      6/6/14 CBO Gives Up Trying to Figure Out How Much Obamacare Costs https://www.uschamber.com/blog/cbo-gives-trying-fi...

      HOW FAST THINGS CAN CHANGE 10/2/14 Obama in 2006: ‘ Increasing America’s Debt Weakens US Domestically & Internationally’ http://www.speaker.gov/general/obama-2006-increasi...

    • seraphic profile image

      Seraph 2 years ago from Canada

      In Canada we are in a serious housing bubble and we are in a recession (they are lying to us about not being in a recession). When the Canadian housing bubble pops' it is going to be much worse than the collapse in the USA in 2008. Here the CANADA MORTGAGE AND HOUSING CORPORATION (yes of Canada) provides MHC provides mortgage loan insurance that helps people to buy a home sooner with a minimum down payment of 5%. The Canadian Tax-Payer is on the hook for all of these loans.

      When the pop arrives in Canada, I fear people will not be able to eat, as the average Canadian is in debt 160% (much worse than what the stats were in the USA before the collapse). If our market collapses I think, possibly Canada and USA will merge, could be why USA is accepting universal medical care.

      The only way to end debt is to hunker-down as an entire Nation, cut costs and get rid of it even if it takes a lifetime. I for one do not want to see future generations suffer because of the poor choices any leader of the past has made.

    • profile image
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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, Raising the debt ceiling is simply paying for obligations that Congress already passed. Therefore your incalcitrant Tea Party House GOP are deadbeats not willing to pay the nation's bills. Save your links, as I have said before, I do not read propaganda links.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      Extortion are you kidding? Any fool would know spending more than you take in is a pending disaster Check the date on this hub just a bunch of promises un kept

      https://hubpages.com/politics/PresidentBarakObamaE...

    • profile image
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      Howard Schneider 4 years ago from Parsippany, New Jersey

      The debt ceiling extortion strategy was tried again and failed last week. This has become an increasingly scary tactic and we need to put a stop to it. Default would plunge our country into a financial downturn that would take a generation or two to fully come out from. President Obama stood up to them and won. Will he always win? I don't know but if he loses on this subject, we all lose. We need to end this requirement to raise the debt ceiling. We have to always pay our bills.

    • profile image
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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, You are wasting my time and yours. Your only responses are links to right wing sources that always lie. Please stop. Unemployment is at 7.5%, not 7.8, and dropping. Housing is beginning to boom. The stock market is at all time highs. This results in the deficit shrinking rapidly. All your links do not change those facts. The Obama Administration helped pass the legislation and created bank stress tests to hopefully prevent another financial meltdown, Of course, the Republicans will mess that up once those corporate shills are back in power.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      My friend,you really need to find out what is happening the last 4 years.

      1.'' Bush Administration induced financial meltdown''THE LAST 2 YEARS OF THE BUSH ADMINISTRATION WAS RUN BY A MAJORITY CONTROLED DEMOCRAT CONGRESS.

      2.''stock market is at an all time high'' DUE TO THE FED PUMPINP $ 85 BILLION INTO THE ECONOMY ( buyingUS gov bonds )for the last 4 months

      3. ''The payroll tax deduction holiday was ended due''Senate Democrats Vote No To Extend The Payroll Tax Deduction

      https://hubpages.com/hubtool/edit/2851288

      4.'' end Food Stamps for the poor ''USDA moves to end questionable food stamp ads after criticism WASTE

      http://www.foxnews.com/politics/2012/07/13/usda-mo...

      5.''The economy is getting stronger ''7.8%? REALLY?

      6''the deficit is shrinking''.Deficit Surprise: US Pays Down National Debt

      http://abcnews.go.com/blogs/business/2013/04/us-pa...

      Republicans winning battle to reduce deficits.

      U.S. Posts Biggest Monthly Surplus in 5 Years

      http://blogs.wsj.com/economics/2013/05/10/u-s-post...

      TARP PAYBACK FUNDS

      McCarthy Joins Colleagues Asking Administration to Clarify Contradictory TARP Repayment Plans

      http://kevinmccarthy.house.gov/index.php?option=co...

      Obama's 2014 Budget Proposal: Tax, Spend, Elect — and Borrow

      http://thenewamerican.com/usnews/item/15094-obama-...

      The budget proposal is loaded with Washington-speak, ..

      Check them out,maybe you will know what really is going on!

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, The drop in wealth in the U.S. was due to the Bush Administration induced financial meltdown. Since then, the stock market is at an all time high and most of that wealth is back due to President Obama's policies. The payroll tax deduction holiday was ended due to the Republicans insistence. It is the Republicans who want to end Food Stamps for the poor to pay for corporate welfare and those numbers are inflated because they are from FOX. Your stats and sites are bogus as usual. The economy is getting stronger and the deficit is shrinking. If we institute the GOP's austerity programs we will turn into Europe and fall back into a recession.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      ''advance our country's future'', to a police state?''The GOP in Congress want to block spending for the poor and middle class '',it's all about wasteful spending and more taxes.Senator questions $18B for job training WASTE

      http://www.foxnews.com/politics/2012/05/17/senator...

      Americans lose 38% of their wealth under Obama

      http://www.ksdk.com/news/article/323577/3/US-famil...

      USDA moves to end questionable food stamp ads after criticism

      http://www.foxnews.com/politics/2012/07/13/usda-mo... The Obama Legacy. As of April, more than 49 million people were in the program, which costs $80 billion a year.

      Senate Democrats Vote No To Extend The Payroll Tax Deduction

      https://hubpages.com/hubtool/edit/2851288

      Republicans proposed a bill that would extend the pay roll deductions last but not least.

      Obama's don't want this video to be seen in 2012

      http://www.youtube.com/watch?v=v_2s4tob5U8

      Listen closely when the President speaks, how many times does he mention how he is fighting for the POOR.

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Yes, the Republican party and FoxNews with Roger Ailes are the same. You obviously drink from the same Kool-Aid, Jon. The President is seeking to advance our country's future. The GOP in Congress want to block spending for the poor and middle class to enrich their fat cat corporate benefactors.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      The President seems to think so too.

    • profile image
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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, The Republican party and FoxNews is threatening our future. Oh wait, they are the same entity.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      THANK YOU,Mainstream media is threatening our country's future

      http://www.foxnews.com/opinion/2012/09/29/mainstre...

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      I am not name calling. CNN, MSNBC, CBS, ABC, NY times, Washington Post are only a few of the creditable mainstream media sources instead of your right wing Republican hack groups. Also your comments still have nothing to do with the subject of this Hub. Disrupt someone else's work, Jon. Your rants are old news.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      ''Follow responsible media sources ''' LIKE ??????

      It is quite evident that you are hiding your sources, why not reply instead of your name calling.

      JE

      PS I would like to get by the propaganda so that I too can be in the KNOW!

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      I am sorry I missed your comment, Formosangirl. I never received a notification from HubPages. You are absolutely correct. Deductions should only be for mortgages on primary homes. The rest are merely tax shelters for the wealthy. Thank you for your comments.

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, Supplying links does not make your case or anyone's case. Follow responsible media sources not right wing conspiracy sources. I have never supplied links in any of my Hubs or comments. There is nothing to offer with them. You obviously have nothing to offer this Hub.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      ''''Check out responsible sources'',please furnish those terrific links.Can't wait to get them for all to read.''

      Don't be embarrased to give the links,how about at least a couple. Time will tell!

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      More links, more propaganda from Jon Ewall. Do you work for FOX News or the Republican Party? You contribute nothing to this Hub except spew your Conservative, bash President Obama and Hillary Clinton lines. Enough.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      ''.''Check out responsible sources'',please furnish those terrific links.''We are still waiting.''they fear Hillary in 2016.'', had a discussion today on the Hillary '' I don't know MATTER''. We don't believe Hillary will stand to be tossed under the bus, if she is, hold on to see the real Obama.C-SPAN IS THE REAL THING, LIVE AND UN CUT

      5/8/13 Benghazi Whistle blower Hearing on C-Span3 live and un edited!

      POTUS ‘’ to tell the TRUTH ‘’ Benghazi A MEDIA COVER UP

      PART 1 http://www.c-spanvideo.org/program/SConsulat

      PART 2 http://www.c-spanvideo.org/program/LibyaPar

      The President and Hillary lack CREDIBILITY

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      I am not a whore to propaganda links to post here as supposed truth, Jon. You are simply one of the Far Right's dittoheads that spew this nonsense from source to source. The Republicans will not let go of Benghazi because they fear Hillary in 2016. All of the groups, both Left and Right, should have their tax exempt status pulled. They are strictly political organizations. That goes from Moveon.org all the way right to Karl Rove's group.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      Take the blinders off and pull the plugs.You are oblivious to the truth.''Benghazi occurred because the House Republicans cut spending for State Department security''Testimony by a state dept.head responded that money was not a problem in funding.''The IRS scandal ''Obama don't know anything about it, a big joke if you can believe that.''social welfare groups'' they are suing the government and the truth will come out.''Check out responsible sources'',please furnish those terrific links.Can't wait to get them for all to read.

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, They are still propaganda links. Benghazi occurred because the House Republicans cut spending for State Department security. The IRS scandal was not known or created by the White House. But those groups should be taxed they are not social welfare groups. They are political groups. The reporter subpoena incidents were wrong headed but not illegal. Check out responsible sources Jon. Not right wing liars.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneide

      ''your propaganda links.''IT APPEARS THAT Fox News is the only one exposing the Obama administration for now.Mainstream media is threatening our country's future

      http://www.foxnews.com/opinion/2012/09/29/mainstre...

      Benghazi Whistle blower Hearing on C-Span3 LIVE and un edited! 4 hours of the truth

      POTUS ‘’ to tell the TRUTH ‘’ Benghazi A MEDIA COVER UP

      PART 1 http://www.c-spanvideo.org/program/SConsulat

      The best by far propaganda site is whitehouse.gov.

      TARP PAYBACK FUNDS

      McCarthy Joins Colleagues Asking Administration to Clarify Contradictory TARP Repayment Plans

      http://kevinmccarthy.house.gov/index.php?option=co...

      Deficit Surprise: US Pays Down National Debt

      http://abcnews.go.com/blogs/business/2013/04/us-pa...

      Republicans winning battle to reduce deficits

      U.S. Posts Biggest Monthly Surplus in 5 Years

      http://blogs.wsj.com/economics/2013/05/10/u-s-post...

      The House passed their 2012 budget in Feb as require by House rules.

      Where are the jobs? Check this site. http://majorityleader.gov/JobsTracker/

      You are missing a lot of information by not checking the only site that shows actual clips of POTUS, before and after.

    • formosangirl profile image

      formosangirl 4 years ago from Los Angeles

      HSchneider, I would start with trimming deductions on 2nd and additional homes and raising capital gains tax. In Los Angeles, a fixer upper can be 1 million dollars.

    • profile image
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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Thank you, Shyron. You are welcome and I appreciate your taking the time out of your busy day to read this Hub. I am soon off to my real life aka job.

    • Shyron E Shenko profile image

      Shyron E Shenko 4 years ago from Texas

      HSchneider,

      My other life is calling right now but I will be back to read this hub again. It has helped me greatly in understanding the debt ceiling.

      And I also did not know that President Obama voted against raising it.

    • profile image
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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, I no longer check out your propaganda links. I am for reasonable spending cuts, cutting most tax loopholes, and reasonable tax increases.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      Give it a look see.

      Paul Ryan on Fox News Sunday Chris Wallace

      http://www.foxnews.com/on-air/fox-news-sunday/inde.../v/1529380822001/rep-paul-ryan-defends-gop-budget-plan/?playlist_id=86913

      Ryan and Van Hollen Debate Medicare Proposals 6/3/11

      http://foxnewsinsider.com/2011/06/03/ryan-and-van-

      All told, the fiscal cliff law designed, $600 billion tax on the rich, to reduce the deficit, added $74 billion in spending through changes in the tax law.

      Congress just added $70 billion worth of new loopholes.

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, The President talks about both the middle class and the poor. The Republicans talk about not raising taxes on the wealthy. That is because they are their financial benefactors. The GOP are slaves to the wealthy and Corporate America. The economy is not better because the Republicans in Congress block everything and corporations simply sit on hoards of cash.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      Think about it, how many times the President says he is fighting for the middle class. The President wants to build the economy up from the middle class. In 4 years his plan has not worked. He never talks about the poor getting out of poverty, does he?

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      More propaganda conservative sites from Jon Ewall. The same old story. Dumb spending cuts via the sequester are already hurting our economy and people's lives. Cut corporate welfare and wealthy tax loopholes.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      The House and Senate have passed a 2014 budget.

      3/21/13

      House and Senate budget proposals compare?

      http://bigstory.ap.org/article/how-do-house-and-se...

      The President will submit his budget on 4/10/13 (due on 2/5/13) 2/4/13

      Boehner, GOP Pressure Obama to Balance Budget

      http://abcnews.go.com/blogs/politics/2013/02/boehn...

      President Obama’s Fiscal Cliff Plan “Balance” not true

      http://www.speaker.gov/general/president-obama-s-f...

      President distorts the truth.’’ back in black’’

      CUT WASTE Senator Coburn exposes $9 trillion in waste in GOV.

      http://www.youtube.com/watch?v=3tVJ2gqqKWs

      ''We now need sensible spending cuts''

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, I stated that the DEFICIT is going down not the debt. Sounds to me that you need to read and understand my terms more clearly. We now need sensible spending cuts combined with the elimination of corporate and wealthy tax breaks to dramatically lower the deficit.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      The Truth Behind the Debt Ceiling Debate

      OBAMA started with a national debt $10+trillion.Today ( 4 years later ) it is $16 trillon+.

      It rose $6 trillion +, is that going down?

      ''The deficit has been going down the past couple of years.'' Sounds like Obama math for dumnies!

      ''Your links, math, and statistics are bogus'' prove anyone to be incorrect, please.

      '' Everyone knows it is propaganda.

      I'LL GIVE YOU, the AP, New York times, MSNBC and WHITEHOUSE.GOV.pure propaganda.

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, The deficit has been going down the past couple of years. It is still way too high but it is going down. The sequester cuts will hurt the economy and thus increase the deficit. Additional taxes on the wealthy does not increase the deficit. It is a drop in the bucket for them. Your links, math, and statistics are bogus. Stop drinking the Far Right Kool Aid and stop giving me links to view. I see you do this all across HubPages. Everyone knows it is propaganda.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      The fiscal cliff , PRESIDENT GOT THE BILL PASSED.

      Round 1 new taxes, round 2 spending cuts, all deficit neutral? Obama broken promises. President lied? PAY-GO LAW http://chicagoconsultant.com/page2.php?category=2&... All told, the fiscal cliff law designed to reduce the deficit, added $74 billion in spending through changes in the tax law.

      Last night, Congress just added $70 billion worth of new loopholes.

      PASSED WITH ADDED TAXES with NO CUTS ,a violation of pay-go

      we are a nation of the rule of law ? IT'S SIMPLE MATH.

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, You continue to make your case by simply including conservative propaganda links to your comments. The key negotiations are between the House and President. The President wants a combination of tax credit cuts and budget cuts. The House wants the miltary untouched and the poor and middle class sharply cut. The bottom line is the GOP want to support their corporate benefactors. The President supports ALL of the American people. Please cease to include your useless links. I do not read these cherry picked links.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      ''no compromise House. ''they passed 3 bills to stop sequestration, the Senate did nothing to debate or present a plan that was voted down.

      ''The cuts that they propose, '' please tell me which cuts upset you?

      ''you will greatly shrink the deficit. '' spending more than you take will never reduce the deficits.

      Where are you getting your information,surely there is something wrong.

      On 2/22.13, Bob Woodward wrote an article ''2/22/13

      Obama’s sequester deal-changer'' the link on 2/22/13

      http://www.washingtonpost.com/opinions/bob-woodwar...

      today same article different link, article was edited from the original, true! 2/25/13 link

      http://articles.washingtonpost.com/2013-02-22/opin...

      SCARRY censorship , edited by who? yesterday a MSNBC host admitted editing a Senator's comments to alter the intend of Senator Mc Cain.

      President Obama hasn't given Congress his plan on what he wants to cut. The President is out of town on a 100 city tour, can't be true.

      2/25/13 Sequester - The Three Things you need to know

      http://www.gop.gov/sequester/

      the budget CUT WASTE

      http://www.youtube.com/watch?v=3tVJ2gqqKWs

      http://majorityleader.gov/JobsTracker/

      case closed!

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      Author

      Howard Schneider 4 years ago from Parsippany, New Jersey

      Jon, The cancer is in the recalcitrant, no compromise House. The Tea Party wing is wagging the formerly sensible establishment GOP. The cuts that they propose, many of which go into effect with the sequestor, will shrink the economy and kill jobs. Eliminate corporate and wealthy tax breaks and you will greatly shrink the deficit. They are hoarding their money and hurting the economy anyway.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      It starts at the top, the key 1/3 of our government, '' leadership'.All elected Senators have a right to debate, amend and pass/reject jobs bills, '' compromise''. The links are broken and in effect creates a cancer in our government.Revenue is a problem that can be solved by putting people back to work not so much in government but in the private sector. Government HAS NOW controlled 60% of the economy and increased in size 25%. We know what the reults are today.

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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Thank you for your comments, Jon. I think the biggest problem in Washington is the bipartisan gridlock that allows nothing of consequence to happen.

    • profile image
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      Howard Schneider 4 years ago from Parsippany, New Jersey

      Thank you for your kind comments and recommendation, Shyron.

    • JON EWALL profile image

      JON EWALL 4 years ago from usa

      HSchneider

      The House is not the problem, the problem is that the Obama Senate is not allowed to vote on jobs bills.The House passed their 2012 budget in Feb as require by House rules.

      Where are the jobs? Check this site. http://majorityleader.gov/JobsTracker/

      https://hubpages.com/politics/PRESIDENTBARACKOBAMA...

      HS, A good read as always

    • Shyron E Shenko profile image

      Shyron E Shenko 4 years ago from Texas

      Great hub HSchneider, now if we could just get everyone to read it.

      Voting you up and will recommend.

    • profile image
      Author

      Howard Schneider 5 years ago from Parsippany, New Jersey

      It is all a ploy by the Republicans to weaken the President. Roger Ailes was a campaign consultant for President Reagan and worked and still works for the party. The fair and balanced network is really the propaganda arm of the GOP. Thanks again for your comments, LHwritings.

    • LHwritings profile image

      Lyndon Henry 5 years ago from Central Texas

      The extremist right living on the Fox News Planet are all suddenly drawing momentous conclusions from a Gallup poll suggesting a 0.7-point uptick in the unemployment rate in February. But we're still in February — how's about waiting till the month is over before declaring an unemployment rate for it?

      Also ... The Federal government calculates the unemployment rate on a different basis from Gallup. So how can one compare the two and claim there's this huge surge? Also ... the Federal government's rate is determined for the ENTIRE month. I'm not sure what Gallup's is based on, but I really doubt they're actually clairvoyant.

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      Howard Schneider 5 years ago from Parsippany, New Jersey

      Jon, There is always waste in government to be cut but not as much as you think. I would never believe a report by the FAR Right Republican Senator Coburn. He wants to cut waste but loves to give tax breaks to oil companies. That my friend is waste.

    • JON EWALL profile image

      JON EWALL 5 years ago from usa

      LHwritings

      Come down out of the clouds.i'll repeat again.

      There is a lot more waste in Washington that could be cut. The President's Payroll Tax bill is not paid by cutting cost as required by PAY-GO LAW.

      CHECK IT OUT.

      1. 2/13/10

      President Barack Obama is hailing PAYGO legislation PAYGO compels new spending not add to the federal deficit. http://chicagoconsultant.com/page2.php?category=2&...

      2.WASTE IN GOVERNMENT ALL IN THE RED

      ‘’ Back In Black’’ The Obama’s stash, do not touch

      http://www.youtube.com/watch?v=3tVJ2gqqKWs

      3.

      The Senator Coburn report '' WASTE IN GOVERNMENT'' http://coburn.senate.gov/public/index.cfm/rightnow...

      Prsident Obama and the Congress are robbing the Social Security Trust fund by giving the tax break and is increasing the National Debt by $100 billion more just to give working people a break. The unemployed workers are footing the bill, the President believes in ''FAIRNESS''.

      Oh MY! A NEW UNEMPLOYMENT REPORT FOR FEB, UNEMPLOYMENT is back to 9 %. Wonder why? Just a lot of SMOKE AND MIRRORS again.

    • LHwritings profile image

      Lyndon Henry 5 years ago from Central Texas

      The extremist right must think all of us are as cerebrally challenged as they are. They have a penchant for "forgetting" what conflicts with their propaganda du jour.

      George W. Bush and the GOP managed to erase the modest budget surplus produced by Clinton (the result of policies such as "ending welfare as we know it"), and then proceeded to goose the U.S. budget deficit and federal debt load into the stratosphere by just scrapping the Pay-Go policy (especially by using smoke-and-mirror budget subterfuge to do so).

      Now it's, OMG, the terrible, terrible Obama, just forcing the poor, valiant Teapot GOP into agreeing to the pay cut package without Pay-Go! Oh, horror, horror, the shame!

      Moving on from this Reality Daily Show ... to Lincoln? By today's Teapot GOP standards, Lincoln must be a socialist, Communist, and probably Islamist (somehow) ... Look what dastardly thing he did to the valiant, hardworking, taxpaying slaveowners of his time. Why, he destroyed an entire industry, and even released their assets (slaves) into the public domain! Ah, the Communist perfidy!

    • JON EWALL profile image

      JON EWALL 5 years ago from usa

      HSchneider

      LOOK UP THE DEFINITION OF '' A FOOL ''.I'm not sure who you watched on Fox NEWS to make such an assinine statement?

    • profile image
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      Howard Schneider 5 years ago from Parsippany, New Jersey

      Jon, I was out for the Meet the Press show this morning. Also please stop giving me FOX News sites. They are the propaganda arm of the GOP. You continue to be brainwashed.

    • profile image
      Author

      Howard Schneider 5 years ago from Parsippany, New Jersey

      Jon, I would like the payroll tax cut extension to be a PAYGO item. I would raise taxes on the wealthy and cut corporate loopholes. The problem is the GOP would never go along because they are in the pocket of Corporate America and Grover Norquist. They want to cut social programs which have already been cut. The two sides are at loggerheads. Therefore both sides caved and allowed this to pass without PAYGO. BOTH SIDES. The politics on this is terrible for the GOP and they finally have capitulated.

    • JON EWALL profile image

      JON EWALL 5 years ago from usa

      HSchneider

      VAN HOLEN AND RYAN

      ON SUNDAY '' MEET THE PRESS '' DON'T MISS THE PROGRAM

      It will help you to understand both sides of the coin.

      Hoping to hear your thoughts