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Log inUS debt ceiling - what is your prediction?
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US debt ceiling - what is your prediction?
by truthbetold Thu Jun 30, 2011 9:41 pm
Republicans whose tax cuts and regulatory dilutions led to 2008 economic crisis are today in a powerful position to hold Obama and democrats by their balls and declare they support subsidies to rich oil companies. It is amazing how they have turned the adversity of 2008 into a snowballing massive thunderstorm that is sweeping dems of their long held political offices.
Obama is now a prisoner of poor economic performance and slumping popularity.
Republicans have nothing to lose by pushing the debt deadline till the last minute. Any further damage to economy will fall under Obama's mismanagement.
Cost of Health care should not only be measured in dollars but also in the heavy price dems pay politically.
Obama is now a prisoner of poor economic performance and slumping popularity.
Republicans have nothing to lose by pushing the debt deadline till the last minute. Any further damage to economy will fall under Obama's mismanagement.
Cost of Health care should not only be measured in dollars but also in the heavy price dems pay politically.
truthbetold- Posts : 6799
Join date : 2011-06-07
Re: US debt ceiling - what is your prediction?
by truthbetold Sat Jul 02, 2011 2:36 pm
Looks like US Market is back to upward trend as it sees Greek probelm as 'solved' and emerging nations (China and India) not doing as bad as thought.
Second quarter results may influence the trends for few days. But by middle to late july , debt limit may decide market direction.
Best result could be - Republicans force Dems to give up some sacred cows and obama forces republicans to come to sense and agree to cut subsidies to Oil companies. Bonus would be income taxes reverting to Clinton year numbers. That may be good for long term US economy. Do you see such a summer Bonanza?
Second quarter results may influence the trends for few days. But by middle to late july , debt limit may decide market direction.
Best result could be - Republicans force Dems to give up some sacred cows and obama forces republicans to come to sense and agree to cut subsidies to Oil companies. Bonus would be income taxes reverting to Clinton year numbers. That may be good for long term US economy. Do you see such a summer Bonanza?
truthbetold- Posts : 6799
Join date : 2011-06-07
Re: US debt ceiling - what is your prediction?
by charvaka Sat Jul 02, 2011 3:56 pm
That would be a great set of compromises. Not sure it will happen because the GOP gains nothing politically by agreeing to that. Some like Bachmann reckon that a default is not a bad thing if it happens on Obama's watch.truthbetold wrote:
Best result could be - Republicans force Dems to give up some sacred cows and obama forces republicans to come to sense and agree to cut subsidies to Oil companies. Bonus would be income taxes reverting to Clinton year numbers. That may be good for long term US economy. Do you see such a summer Bonanza?
charvaka- Posts : 4347
Join date : 2011-04-28
Location : Berkeley, CA
Re: US debt ceiling - what is your prediction?
by truthbetold Sat Jul 02, 2011 4:45 pm
Charvaka:
[/quote] That would be a great set of compromises. Not sure it will happen because the GOP gains nothing politically by agreeing to that. Some like Bachmann reckon that a default is not a bad thing if it happens on Obama's watch. [/quote]
I agree. I do not see much incentive for republicans to compromise. If no compromise is reached by Aug and market goes nuts, Republicans will claim Obama's poison pill of tax increases killed the compromise chances. Dems do not seem to have any strategy and seem weak and cowardly in their responses. Obama came on strongly this week but will he remain firm and push Republicans to either make markets sweat or blink on tax compromise.
It is surprising Bachmann is now a serious presidential contender and her types can influence serious policy. For once US is tying itself in knots and hurting it self.
[/quote] That would be a great set of compromises. Not sure it will happen because the GOP gains nothing politically by agreeing to that. Some like Bachmann reckon that a default is not a bad thing if it happens on Obama's watch. [/quote]
I agree. I do not see much incentive for republicans to compromise. If no compromise is reached by Aug and market goes nuts, Republicans will claim Obama's poison pill of tax increases killed the compromise chances. Dems do not seem to have any strategy and seem weak and cowardly in their responses. Obama came on strongly this week but will he remain firm and push Republicans to either make markets sweat or blink on tax compromise.
It is surprising Bachmann is now a serious presidential contender and her types can influence serious policy. For once US is tying itself in knots and hurting it self.
truthbetold- Posts : 6799
Join date : 2011-06-07
Re: US debt ceiling - what is your prediction?
by hapichaM Tue Jul 05, 2011 5:37 am
President Obama discussed the debt ceiling in a White House news conference Wednesday. He was greatly critical of GOP congressmen who will not vote for elevating the debt ceiling if taxes are elevated. "Get it done," Obama said, counseling lawmakers to "take on their sacred cows.". Reactions appear to be split along party lines. I read this here: Obama blasts Republicans on debt ceiling.
hapichaM- Posts : 1
Join date : 2011-07-05
Age : 38
Location : California
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