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View Full Version : Republicans are playing a dangerous game



Qtec
07-07-2011, 11:57 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Buffett: <span style='font-size: 14pt'>GOP Threatening To 'Blow Your Brains Out' Over Debt Ceiling </span>


Republicans are playing a dangerous game by refusing to raise the debt ceiling, according to Berkshire Hathaway CEO Warren Buffett.

<span style='font-size: 14pt'>"We raised the debt ceiling seven times during the Bush Administration," Buffett told CNBC on Thursday.</span> Now, the Republican-controlled Congress is "trying to use the incentive now that we're going to blow your brains out, America, in terms of your debt worthiness over time."

If Congress fails to raise the borrowing limit of the federal government by August 2, the date when the U.S. will reach the limit of its borrowing abilities, it will likely begin defaulting on its loans.

Buffett, who according to the Washington Post has helped raise money for Democratic candidates like Hillary Clinton in the past, has been highly critical of the actions of the Republican-controlled Congress. In May, Buffett stated at a Berkshire Hathaway shareholder's meeting that if the Congress failed to raise the debt ceiling, it would constitute <u>"the most asinine act" in the nation's history,</u> reports Reuters.

According to the U.S. Debt Clock, America's total public debt equals close to $14.3 trillion which, according to the CIA World Factbook, is roughly 60 percent of the annual gross domestic product.

But even with this information, Buffett is unfazed.

<span style='font-size: 14pt'>"We had debt at 120 percent of the GDP, far higher than this, after World War II and no one went around threatening that we're going to ruin the credit of the United States or something in order to get a better balance of debt to GDP."</span>

Some experts, like former Federal Reserve Chairman Alan Greenspan, have floated the idea of the Treasury paying some obligations while not paying others. This, Buffett says, is ludicrous.

"If you don't send out social security checks, I would hate to think about the credit meeting at S&P and Moody's the next morning," Buffett told CNBC. <span style='font-size: 14pt'>"If you're not paying millions and millions and millions of people that range in age from 65 on up, money you promised them, you're not a AAA."</span> A triple-A credit rating is the highest possible rating that can be received.

Watch the full CNBC interview here (http://www.huffingtonpost.com/2011/07/07/warren-buffett-debt-ceiling_n_892332.html) here: </div></div>


<span style='font-size: 14pt'>How many times is the GOP going to hold the USA hostage?</span>

They act like terrorists - suicidal terrorists. They are willing to destroy the 100% faith in US bonds, just to get their way ...which means everybody has to pay more, make sacrifices,<u> except the wealthy</u>, who get more tax cuts.

Q

LWW
07-08-2011, 04:14 AM
Bwess their widdle hearts.

ugotda7
07-08-2011, 08:12 AM
You're so gullible......

LWW
07-08-2011, 08:20 AM
Statist regimes cannot exist without the gullible.

Soflasnapper
07-08-2011, 05:11 PM
It's win-win-win for them, Q.

People are still resisting their Cloward-Pivin strategy, but they are SO CLOSE and can't stop now.

The problem for capital is that the interest rates are so low, and people still think some government spending on the people is necessary.

So, they continue to blow up the nation's balance sheet to where the people can be stampeded to allow the further shredding of the social welfare programs, refuse to raise the debt ceiling until we default, and then get rewarded with 8% on their money.

Sure, it will screw over the entire country, except the financial rentier class, but the yahoos and T-partiers don't understand these consequences. Yet. They are easily manipulated, and you know, when it happens? They'll still think it was O's fault. They had to destroy the country in order to save it.

LWW
07-08-2011, 05:38 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">It's win-win-win for them, Q.

People are still resisting their Cloward-Pivin strategy, but they are SO CLOSE and can't stop now.

The problem for capital is that the interest rates are so low, and people still think some government spending on the people is necessary.

So, they continue to blow up the nation's balance sheet to where the people can be stampeded to allow the further shredding of the social welfare programs, refuse to raise the debt ceiling until we default, and then get rewarded with 8% on their money.

Sure, it will screw over the entire country, except the financial rentier class, but the yahoos and T-partiers don't understand these consequences. Yet. They are easily manipulated, and you know, when it happens? They'll still think it was O's fault. They had to destroy the country in order to save it. </div></div>

Yes ... the doublethink is strong in this one.

Qtec
07-09-2011, 04:19 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ugotda7</div><div class="ubbcode-body">You're so gullible...... </div></div>

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">"<span style='font-size: 17pt'>We raised the debt ceiling <u>seven times</u> during the Bush Administration,</span>" Buffett told CNBC on Thursday. </div></div>

...and not a squeak from the fiscally conservative Republican Party.

After Bush running the country into a ditch, suddenly its a big deal!

Only the people who believe their crap are the ones who are gullible.

Q