Tea Party kicks Boehner in the teeth - again
 

Late this afternoon, the Tea Party contingent of the GOP told Speaker Boehner they refuse to accept Boehner's last-minute plan for raising the debt ceiling (two short term raises through 2012 with moderate to low spending cuts)

This leaves only Sen. Harry Reid's plan (massive cuts equal to debt ceiling raise through 2013).

What will be the outcome? The President has a press conference tonight at 9pm

I'll guess: Obama will give the GOP one last public chance to raise the debt ceiling via accepting Reid's plan. The Tea Party won't let Boehner accept. Tomorrow Obama will raise the debt ceiling via the 14th.

We're f.ucked either way. Winning this is like winning a free root canal.

:tro:

Well, as I've said many times, I don't have a lot of respect for either party but this is an all time low by the Tea Party idiots. Poor Boehner, he's in an impossible position as these clowns want to see America's economy sink. Hopefully they will blink otherwise we are in for a rough ride.

The economy is going to sink now or in the next 2-5 years. This is a classic case of a degenerate digging a deeper hole and not being man enough to face his problems.

false rumor! his teeth are in place. Reid's 'promise' of cuts BS.

Reid actually cutting NOW. :tro:

Do it for the women Harry! NOW NOW

In his speech, Obama asks Americans to contact their Congressmen regarding debt ceiling - the Congressional servers have crashed tonight. All the contact sites are down.

Well the speech did cater to the lowest common denominator.

#1 Only 58 percent of Americans have a job right now.

#2 Only 56 percent of Americans are currently covered by employer-provided health insurance.

#3 The median yearly wage in the United States is $26,261.

#4 The average American household is carrying $75,600 in debt.

#5 Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.

#6 At this point, American families are approximately 7.7 trillion dollars poorer than they were back in early 2007.

#7 The poorest 50% of all Americans now own just 2.5% of all the wealth in the United States.

#8 According to one study, approximately 21 percent of all children in the United States were living below the poverty line in 2010.

#9 Today, there are more than 44 million Americans on food stamps, and nearly half of them are children.

#10 According to Newsweek, close to 20 percent of all American men between the ages of 25 and 54 do not have a job at the moment.

And tonight this President beats the class warfare drum with ZERO sensible solutions to create jobs...just raise taxes on couples who make over $250,000 and make half-as.sed cuts that won't lower the deficit.

Tax revenue won't increase. GE won't pay their fair share. But the leeches (mostly former military) will still get their fat tax-free checks while working overseas. (Blackwater employees etc.)

Instead the people who, for the most part, who worked hard to earn $300,000 a year take it on the chin. Because everyone knows that $300,000 a year is filthy rich. These people don't deserve that kind of money but some lazy bum in a trailer does.

The people who aren't war mongers and bullies. The backbone of what is great about this nation. They're the f.ucking bad guys.

It was clearly intended, by both Obama and Boehner, for all the people who haven't been paying any attention whatsoever to this.

It's a horror show. My country is in peril and these guys are pointing fingers taking no real responsibility for this mess. They are acting like pedantic children.

We're the laughing stock of the world.

Your last 2 posts have my vote for the two best evah in these parts. We need to make it difficult and expensive for companies to ship jobs overseas or use H1 labor. We do not need to use taxpayer dollars to create jobs or bribe companies to hire workers. Of course since those making the laws are owned by those benefitting from the above it wont happen.

The kick Boehner got from the tea party wasn't in his teeth - it was to his posterior.

We can't have it both ways though...if consumers want inexpensive products, they will have to accept off shore manufacturing. By making it "difficult and expensive" for US Companies to manufacture their product outside the US, it will just drive up the retail that we will be paying.

I gotta agree with you there Bob. Almost every consumer will buy a product at the lowest price if the quality is on par with the higher priced competition.

And I understand the desire to do something about job exodus. We need to. But whatever approach is chosen must be in line with the laws of supply and demand, resulting in a manufactured product that has pricing and quality at least on par with the products produced by the worldwide competitors.

This is why some suggest slashing corporate tax burdens and regulation - not to overtly benefit the owners of those corporations - but to reduce their costs so that making things here in the U.S. still makes good business sense. If the costs are too high and would produce expensive items that will not sell, a company must either move to where the costs make sense or shutter their doors. Either of those options leaves American workers without a job.

We are never going to be competative in meat and potatoes manufacturing of products with heavy labor as a major part of the product cost. Complex sewing garments, intricate detail on jewelry, etc are examples of areas that are gone forever. Even with China labor rates going up 5x over the last 2 years and with most factories supplying US Retailers providing health insurance and unioninzing, there is still too big a gap between the min wage here and what it can be made for there. Even if a US Company takes their manufacturing off shore, they do so to save millions of jobs that would be lost otherwise..Sales, Office, warehouse and distribution centers are positions that can't be outsourced, but that are saved by moving mnaufacturing to remain competitive. I'm sorry...you go to a Target Buyer with a Jacket made in the US at as cost of $30 or the same jacket...with quite possibly better quality that will cost Target $20 but is made in Vietnam....which one do you think they will choose?

One area that we should not lose ground jobs wise though is in the technological fields. We don't do a good enough job making it worth US Companies while not to move research labs and hi tech manufacturing off shore. Cheap labor does not drive the cost basis of a lot of these products and there is a proprietariness to them that allows for a comparison by retailers that isn't all about being the cheapest.

welll put Bob :tro:

Well put and that was the focus of my rant.. I used too wide a brush in painting. We drove out the manufacturing sector in the late 80's and everyone was told to get educated for high tech related and white collar jobs. Now those are being tossed and we are being told to invent the next big thing that will employ everyone. But the dynamics have changed the next big thing will also be done overseas. An economy where 3% of the people have 98% of the money is destained to fail.. My personal circumstances are that I am doing very well and my wife and I (thank god) have never been unemployeed so I am not talking my book here. I am afraid of the country our chidren and their children will inherit. I guess they all could bet Playa_Playas system for a living but I digress.

and JMS :p:tro:

So... how are we going to pay back this debt with no jobs???

:tro:

BTW, IMO we are no longer educated enough, or motivated enough, to invent the next high tech stuff anyway.

The Tea Party are ignorant idiots that need to grow the eff up.

They are, and yes, we are. That, after weeks of this crap, both of them had to take to TV to 'esplain it to those that have not been paying attention .... I had a person yesterday that asked me, "So what is all this debt stuff about?" They shouldn't be allowed to vote.

Because if people paid a bit more attention over the past 50 years, we'd never have gotten here.

Which do you think is more important? Jobs or the debt?

As JMS said, "An economy where 3% of the people have 98% of the money is destained to fail."

Ignorant as opposed to whom? You?
Which position is ignorant? That the debt needs to be paid back, and that you can't borrow ever increasing sums forever?

Obviously we need both jobs and very low debt. And we used to have both, so don't tell me we can't do it again if we make policy to do so.

JMS might be right. It is also true however that an economy where 47% of the people pay no income taxes is also destined to fail. The other 53% won't keep carrying the dead weight. More and more of them will go to the side where they can have the freebies. That will mean less people paying the bills. This is the mechanism by which the economy fails.

Ignorant as opposed to pretty much the other 4/5 of the United States population. The Tea Party isn't living or dying on either of the above statements you made, Joey. I wish they were.

So far Tea time in Washington has been to act like a spoiled 2-year-old, whose only word is "NO!" The Tea Party has submarined every single debt ceiling proposal put before it, without compromise or consideration.

Many of them have come out publicly and accused the world of lying, saying that not raising the debt ceiling would have no consequence, that it's all a lie to say the US will default.

Ignorant, uneducated, dangerous to this country demagoguery.

We are in a slow recession recovery. We need jobs. Carrying debt right now is of little consequence.

People don't pay income taxes unless they have income. They need jobs to have income. The middle class is now virtually non-existent. What drove this country in the past 50 years? An upwardly-mobile, spending middle class. It's gone. Walmart's revenues are even dropping off. Not even the poor have money any more. They have been bled dry.

:zz: Look up who gave the 1.4 trillion dollars in unfunded tax cuts during the past 10 years, and look up how much income tax the top 10 biggest companies in this country paid last year. Our revenues have never been lower.

Then wonder why the Tea Party and the Republican Party are fighting 100% against any revenue increases? And decreasing spending during a slow recession recovery? (and the Dems have gone over to that dark side, too, the fools)

Less people paying the bills is directly due to the Bush Tax Cuts. They need to expire. You agree, right? BTW, your "Tea Party" is fighting that. Completely against anybody paying more taxes. Why do you support that craziness?

I think we are educated enough but big business says otherwise as a justification of selling us out for the enrichment of a few.

Joey there are plenty of uber rich folks in the 47%... Don't kid yourself.

A 50 question multiple choice test would knock at least 70% of voters out. It's needed.

Check this out...

http://etfdailynews.com/2011/07/25/i...united-states/

:zz::zz:

Saudi? Bob? JMS? C'mon guys, fess up if it was you .... :D

Here comes Wall Street today to pressure the GOP - yikes, brutal!

Republican Leaders Voted for Debt They Blame on Obama
http://www.bloomberg.com/news/2011-0...-on-obama.html

And then Alter crucifies Boehner for all his lies in his speech last night
http://www.bloomberg.com/news/2011-0...han-alter.html

If you believe in that the trader has an edge then

http://finance.yahoo.com/q?s=tmv&ql=1

You really cannot truly believe this, can you?

For every expert who said the recession would last 2 years when it started, there was another who said it would last 5 years.

For every expert who said unemployment would ease after 6 months, there was another who predicted it would top out at 12%.

Same thing with the housing experts.

No one knows. If you had your way with policy AND IF the recession lasts another 3 years, debt service would go from 30% of total fed revenue now to 50% in 5 years.

At that point, the debt level would indeed become be inconsequential as you write because it it would be impossible to manage it and the dollar would be worth 50% of its' current diminished level.

At that time, the next fiscal debate would be how much of the debt should be monetized.

You are incredibly ignorant to think you can just keep spending more and more without there being consequence.

Remember riot being dumb or uneducated does not take away your right to vote. That is a constitutional right. If there was an IQ test or a knowledge test prior to being allowed to vote your right we would not be here right now and OBAMA would not be president.

while we're on the topic of money and the feds....i read a bit today in the paper about obamacare and the states filing suit....i didnt realize til today just how much that plan was going to cost the states to implement. and the costs only get worse by 2020.

Riot believes in the government creating jobs with more government spending. Debt is no big deal. We need rail projects, more government spending to keep the economy going. The economy will never fix itself. We need to the government to fix it. We will let someone else worry about the debt problems we create today. It is the american way or at least was up until most people woke up a few years ago. Take money from the wealthy and create more government albeit temporary jobs.

I have no problem raising wage income, dividend income and estate taxes on the wealthy to temper the deficit. None. Do it, get it done, then at some point, the other guys win both branches and the prez and it gets undone. To me, the most useless money out there is that 3rd/4th generation wealth that does nothing for anyone other than people who did nothing or little to earn it in the first place.

The biggest problem is that Obama is just gutless. He had 18 months to pass legislation that would have sunset the bush tax cuts and cut corporate tax loopholes but he didn't have the stones to do it. He did the same thing on health care when he signed off on a piece of crap bill when he could have done so much more.

Either party is the same to me. They are all rats.

I didn't say that. So you can save the "ignorant" comment for your own self's inability to read, thanks.

I said that being in a slow recovery, carrying debt right now is of little consequence. You do not stop spending in a slow recovery or recession - unless you want a depression. Yes, we have to address long-term debt, but the long-term debt is not of immediate concern, until we are in a better recession recovery and have a stronger economy.