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6113One Responsehttp%3A%2F%2Fwww.prunejuicemedia.com%2F2011%2Fpjm-recap-episode-10%2FVIDEO+-+%22Easy+Explanation+of+the+Debt+Ceiling+Deal%2C+Happy+50th+B-day+Pres.+Obama%22+2011-08-04+17%3A19%3A50Steviehttp%3A%2F%2Fwww.prunejuicemedia.com%2F%3Fp%3D6113 to “VIDEO – “Easy Explanation of the Debt Ceiling Deal, Happy 50th B-day Pres. Obama””

1. 

   atkinsoniv
   

   08. Aug, 2011

   Your relief was shortlived on this one wasn’t it. This deal was in no way any good for the government or the people of the US. In a single day the government spent 60% of the money that they were allowed to borrow. Fiscal responsibility? I think not.

   Stevie, let me tell you why you should do some more reading before you go and make an ass out of yourself on here. You said that it was a good thing that a comprimise was reached so the government could send out Social Security checks, pay the interest on the debt, etc… If you knew anything about the way our government works you would know that the debt payments would be made because the government is constitutionally bound to do so. Furthermore, Social Security, Medicare and Medicaid payments would be made because they are obligations which aren’t allowed to be passed over. What would have happened if the deal wasn’t passed is things like the forest service, NASA, the EPA, and research grants would have been furloughed or not paid. The government brings in $200 billion in monthly revenue. The obligated spending comes to roughly $120 billion. That leaves the government with ~$80 billion to pick and choose which bills to pay.

   This deal does virtually nothing to address the deficit and debt. That is the reason for the credit downgrade. Under this deal there will only be ~$60 billion in cuts over all of next year with no concrete cuts in future years. In fact, you can count on the rest of the deal not being honored. Why do I say that? Next year is an election year. That means that in 2013 there will be a new Congress. The Congress is not bound to honor resolutions of previous Congresses. Even if they did honor the agreement, under the best case scenario this deal would still leave us with $23 trillion worth of debt in 10 years. Most likely it will be higher. On the other hand this downgrade will make other countries and investors less likely to buy bonds from the US government. This is how we get our money from other countries to increase our debt. Hopefully, this will mean that Washington will have to start living within the means of a real balanced budget.

   Another good thing about this resolution (even though it is extremely harmful to our country) is it showed us who the people are who truly care for our future as a nation. Those who voted no to this thing will likely be re-elected and those who voted yes will have about a 40-60% chance of being reelected. The only way they will be assured of being reelected is if they are the representative to an extremely liberal district.

   I have an anecdote for you: I went to one of the Obama birthday parties/rallies last week. While I was there I brought up all of the failings of this president and how he has lied, abused his power or been inept as a leader. What I found is that these people, the leaders of the local Democratic Party, had no clue of a way to go forward and simply made excueses for President Obama. The thing about the Democratic Party is there is no real agenda except giving out more stuff in hopes that they may be reelected. They also have to rewrite history as it is played out. Thankfully we have YouTube so we can verify the words these nincompoops and liars have said in the past. Also, I’m thankful for YouTube because you can verify that Ron Paul has been saying the same thing for years.

   It truly is amazing that so many people agree with you on this site, Stevie. It just shows how uninformed people are in this country and how little they care about the big picture.

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