Politics Obama - Actually doing a good job?

Is it merely rhetoric? We should look at precedent and actual potential outcomes. Then maybe decide for yourself.

With the current level of dysfunction in Washington right now, I wouldn't put it past them that the intention is to shoot for a full-on default.

Here's what happened during the last debt ceiling fight in 2011:

The Doomsday scenario of a U.S. default - The Globe and Mail

Actual, measurable results.

Now what would happen if it were to go further?

October 17: At this point, the U.S. government can no longer add to debt. With $30 billion on hand, after inflows and outflows, this will drop to $27.5 billion by the end of the day.

October 18 to 29: Taking in an average of about 70 cents for every dollar spent, there will be a fluctuation where the government takes in more than it spends, but this will be short-lived, and on October 24th, over $15 billion will need to be paid out, when only $9.6 billion is expected to come in.

This may lead to an unpredictable situation:

We're talking about a collapse of the U.S. bond market.

October 30: Probable default. By this time, the U.S. government will be $7 billion short. Everyone will get shafted, from schools and welfare recipients to defence contractors. There is no picking and choosing.

This would send a shockwave through the economy from the bottom to the very top.

November 1 and beyond: While trying to keep up with interest payments and paying out to creditors, millions of Americans get the shaft, including military personnel and seniors.

What would a U.S. default look like? - The Globe and Mail

So how much rhetoric are we talking about here?

Have you, by any chance, read anything about what's happening in Greece? Yeah, well, if no one bails out the U.S., it could be worse than that. Much worse.

The only rhetoric to worry about, I think, is that of the right-wing extremists in Washington who are holding the country hostage. Maybe they'd like all of this to unfold, and then pin the blame on Obama heading into future elections.

Worst-case scenario: It opens to door to more right-wing extremism—28% unemployment can do that to a nation.

 

It's times like these when satire really shines: Boehner: Obama Stubbornly Refusing to End Crisis I Created : The New Yorker

 

Yes, it is insane...question is Obama able to counteract the insanity?

I'm sorry we've gotten to this point...and it looks like it might potentially go over the edge.
So, there is "some" precedent that may allow Obama to pay on the debt despite the insanity.

But will he use it?
This is the time that history is made...and it is scarier than hell.

I have a feeling he will, especially considering some of the moves his Secretaries have made recently. (ex: Hagel's unfurloughing of DoD workers)
But still the ambiguity is unnerving.

I'm surprised the Money Makers aren't pounding on the GOP to make it go away...but I've read they don't have as much influence as before.

Where are my rolaids???

 

With the right sort of slip up (i.e., the really wrong kind), the US could head towards an outcome of irreparable damage. I think they and most of the world have taken for granted the stability of the US within the context of the globalized economy. What happens when the stability is pissed away for political reasons? At worst, people jump ship. They go to where there is better stability. Where would this be? I don't know. China? A select set of European players? Canada?

 

Now this takes balls...and some confidence in your position.

Last time I remember he did this, at the beginning of his presidency, he had them impressed...and the firebrand rhetoric muted.
I don't know why he doesn't do it more often.

On another note, Obama is about to nominate Yellen for the Fed Chair. Link

I just get the feeling that Obama is about to go for a knockout.
He always does this...gets on the ropes, gets in a mess...then pulls out of it and defeats his opponents.
Must frustrate them to no end... (well, that's kind of obvious )

 

If anyone hasn't noticed...since they're focused on the ACA website issues for now.
The US budget deficit is the lowest in FIVE years.

BTW...this is including the price for the wars, now only in Afghanistan
Obama added these in to the budget when he started his administration. (GWB decided not to add those in to his, when he was prez)
Everything counts.

 

It's more important to look at debt as a proportion to the economy, and not the net debt on its own.

This means, basically, that deficits and GDP growth are an essential part of the equation.

To tackle the current deficit from this point forward will likely require further cuts, lower spending increases, and increased tax revenue.

Once you set ideologies aside, there is the math.

It seems that Democrats (Clinton and Obama) get it at least in part and despite external economic pressures.

If only "tax-cut and spend" Republicans would clue in. (And the slash-and-burn Tea Partiers would fade away.)

 

"In 100 years we have gone from teaching Latin and Greek in high school to teaching Remedial English in college."​

—Joseph Sobran, American journalist and writer​

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I think Sobran and I would disagree on the solutions, but you can't deny the problem.

 

If I hear one more idiot use the word "incompetence" to describe Obama...I'm going to scream. (get the ice cream ready...my throat is going to be sore)

First, what they say he's doing, he's not...I've seen what his administration is doing on the inside...and it is working its ass off to make things more efficient.
Doesn't help you got life-long 'crats with territories...and Congress budgeting for things not needed nor asked for.

Second, what are they comparing it to??? This one goes to the media...and wishy-washy Dems. Damn, everyone has short memories.

Third, let's see anyone else do better in the same position, with the same opposition. Hell, I'm having enough trouble with my own company with it's half-assed ways. Can't imaging the prez.

And so on that note...