View Full Version : To Try And Hurt Obama GOP Blew $1.3B Of Your Money

07-26-2012, 03:26 PM
To Try And Hurt Obama, Republicans Blew $1.3 Billion Of Your Money
July 25, 2012
By Nathaniel Downes
AddictingInfo.org (http://www.addictinginfo.org/2012/07/25/to-try-and-hurt-obama-republicans-blew-1-3-billion-of-your-money/)


The cost of the debt ceiling crisis has now begun to be counted, and it looks bad for the Republicans. The fight, which was to attempt to ignore the US Constitution and the 14th Amendment by refusing to pay our obligations, resulted in long-term harm to the US Credit rating, for the first time in recorded history. This action by irresponsible children now has a monetary figure attached to it.

In the report (http://www.gao.gov/multimedia/podcasts/592827) by the Government Accountability Office released Monday, it turns out that the “Fiscally Responsible” Republican party has now taken another $1.3 billion out of the collective pockets of the American taxpayers. That is larger than the entire operating budget of the Corporation of Public Broadcasting, the Smithsonian, the National Endowment of the Arts, even the federal budget allocated to the Post Office. This childish behavior of the elected officials from the Republican Party has resulted in severe damage, and demonstrates fiscal irresponsibility. Their continued efforts to violate both US Law and the US Constitution results in more and more money being wasted in these pointless ventures.

The New York Times (http://thecaucus.blogs.nytimes.com/2012/07/23/debt-ceiling-fight-raised-borrowing-costs-by-1-3-billion/) comments on the waste created by the Republicans in this way:

The fight last summer over whether to raise the debt ceiling increased the Treasury’s borrowing costs by about $1.3 billion in fiscal year 2011, and the bill is expected to climb, according to the Government Accountability Office.

In a report released on Monday, the investigative arm of Congress found that the battle between Republicans and Democrats over the conditions to increase the debt limit to its current level of $16.4 trillion led to uncertainty in the debt markets and higher borrowing costs. It said that a full accounting would be available later. “Further,” a summary of the report read, “according to Treasury officials, the increased focus on debt limit-related operations as such delays occurred required more time and Treasury resources, and diverted Treasury’s staff away from other important cash and debt management responsibilities.

The Republicans have never had such a fight over the 89 previous times in which we raised the debt ceiling, 2/3rds of which have happened under a Republican president. But now, they have decided that this is the new normal and that House Speaker John Boehner has declared that he will do it again, considering it a success.

In other words, they plan on costing us even more money, in order to get their way.

But this time, the Democrats have begun to play hardball (http://www.addictinginfo.org/2012/07/17/make-my-day/) . Their strategy to take the tax cuts off of the cliff is already rippling through the Republican psyche. But while the Republicans are playing to waste money, the Democrats are playing to raise money.

The Republican party has lost any credibility in claims of fiscal responsibility.

Gayle in MD
07-26-2012, 03:48 PM
Yes, I've been reading abobut this for some time.

The cost of their debt limit obstruction should be taken straight out of their salaries. If they don't make enought to pay for it, it should remove their health care and retirement money.

The FACT that they spent us into colossal debts, while yapping that the deficits don't matter, makes their disgraceful behavior even more repulsive.



07-26-2012, 04:21 PM
And then there's the $50 million they've wasted on 33 sham attempts to repeal Obamacare. Yeah, they're fiscally responsible alright! /forums/images/%%GRAEMLIN_URL%%/wink.gif

Gayle in MD
07-27-2012, 06:26 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: DiabloViejo</div><div class="ubbcode-body">And then there's the $50 million they've wasted on 33 sham attempts to repeal Obamacare. Yeah, they're fiscally responsible alright! /forums/images/%%GRAEMLIN_URL%%/wink.gif </div></div>

Oh yeah! With an eight year policy under Bush and the blank check REpiglicans of "The deficits don't matter" how could any normal person think Repiglicans aren't fiscally responsible.

Hey, their failed policies of warring, spending, borrowing, cutting taxes, and humongous job losses were responsible for every single element of this economic disaster, including Bush's "Ownership Society".

Bush's performance in job creation, and deficit growth, was devastating our economy for years before his fellow Wall St.Corporate PIGS and cronies crashed the global economy, ours included! That after six years of the Halliburton, Carlyle Groups's grand theft in Iraq! Billions upon billions, wasted, hundreds of thousands, dead and maimed, and all for nothing!

Oh, annd BTW, have you heard? The Bush Surge, didn't work! In fact, NOTHING Bush did, worked! That's why we're in this mess!


07-27-2012, 06:52 AM
That's almost 3X what the Solyndra loan cost, max!! Add to that the cost of the year long witch hunt that came to nothing.


07-27-2012, 11:48 AM
From Gyorgy Soros'mhips, straight to your lips.

07-28-2012, 03:50 AM
LOL! Are you saying that Soros controls the GAO? For a guy who claims to be oh so smart, you sure are dense! /forums/images/%%GRAEMLIN_URL%%/laugh.gif