Oh my: Angry Obama storms out of debt-ceiling negotiations; Update: “This may bring my presidency down, but I will not yield on this”

posted at 8:25 pm on July 13, 2011 by Allahpundit

Between this and the Moody’s news, tomorrow ought to be fun on Wall Street. Per Slublog, remember during Campaign ’08 when this guy’s big selling point was his “first-class temperament”?

Also, am I right in thinking that the only two times O has walked out on a meeting are today and when he met with Bibi Netanyahu back in March of last year? That’s quite a record of indignation, champ. You really know how to get tough with the enemy.

Cantor said he told the president that the two sides remain so far apart at this point that he doubted they could get to $2.5 trillion in cuts (to match the debt increase requested by the administration, enough to get through the 2012 election) given the time available. President Obama has said he will not sign any increase to the debt ceiling less than that amount, and Cantor had previously insisted that the House would vote no more than one time to increase the debt limit. Cantor said he was willing to abandon his position in order to allow some kind of short-term measure to increase the debt limit and reassure credit markets while negotiations continue, and asked the president if he would be willing to consider this option.

At this point, Cantor explained, the president became “very agitated” and said he had “sat here long enough,” that “Ronald Reagan wouldn’t sit here like this” and “something’s got to give.” Obama then told Republicans they either needed to compromise on their insistence on a dollar for dollar ratio of spending cuts to debt increase or agree to a “grand bargain” including massive tax increases. Before walking out of the room, Cantor said, the president told him: “Eric, don’t call my bluff. I’m going to the American people with this.” He then “shoved back” and said “I’ll see you tomorrow.”

The Democratic spin on what happened is that Cantor “rudely” interrupted The One mid-finger-wag and he got huffy and walked out. As for what he means by “going to the American people,” I don’t want to get my hopes up but we might be in store for another 45-minute lecture tomorrow morning about corporate jets. As an ironic gloss on this drama, read Chuck Todd’s take on how, in principle, Obama and Boehner aren’t all that far apart. If O publicly committed to a truly significant concession, like means-testing for Medicare or raising the eligibility age for Social Security, then maybe the GOP could be persuaded to take another look at letting the Bush tax cuts lapse for the wealthy. But since he won’t, they can’t. Said Boehner to a gaggle of reporters this afternoon, “Dealing with them the last couple months has been like dealing with Jell-o.”

Before he threw his tantrum, Obama also reportedly told Republicans today that Friday’s the deadline for deciding whether both sides should continue to pursue a real deficit-reduction deal or whether they should shift to looking for some sort of fallback plan a la McConnell to avoid default. So, the good news: The first stage of the debt-ceiling drama will kinda sorta be over in the next 48 hours. The bad news: Three more weeks of the next stage to come, guys. Three. More. Weeks.

Update: To steal a line from our Greenroom contributor Karl, here’s more of what the “adult in the room” had to say before he, er, left the room:

“This process is confirming what the American people think is the worst about Washington,” the president said. “Everyone is more interested in posturing, political position and protecting their base than in solving problems.”…

“I have shown enormous willingness to compromise and have taken huge heat for it,” he said, “but my responsibility is to the American people and there comes a point when I need to say, ‘Enough.’”

“It cannot all be on us,” the president said, arguing that Republicans need to give on the revenue side of things as Democrats are willing to do so on spending cuts.

Weigel also clarifies the terms of the actual dispute between O and Cantor. Cantor says they can get a deal for $1.5 trillion in cuts through the House. Problem is, the GOP’s vowed not to raise the debt ceiling by more than the amount in total cuts and a $1.5 trillion debt-ceiling hike won’t get us past the election next year. That makes The Perpetual Campaigner unhappy, so either the GOP will have to step back from its vow or O will have to agree to deal with the debt ceiling again — just a few months before election day, when the incentives on both sides to hold out will be even greater than they are now.

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I bet Obama thinks that McConnell is his ace up a sleeve to come up with some insane plan that actually assists Obama and sells out the rest of the country…. and he’s probably right. RINOs/Rockefellers/Moderates- socialist enablers, always and forever.

JimP on July 14, 2011 at 6:52 AM

Yeah, I guess it was all too much effort for McConnell to fight for America.

JellyToast on July 14, 2011 at 7:01 AM

push comes to shove the Dems will blink over a short term extension.

rob verdi on July 14, 2011 at 7:16 AM

“I knew Ronald Reagan. You are no Ronald Reagan.”

mwdiver on July 14, 2011 at 7:17 AM

I would rather that they ax all tax deductions and credits rather than raise any marginal tax rates. If that “brings in too much”, then lower the rates, or just plain ax the whole corporate profit tax.

Count to 10 on July 14, 2011 at 7:21 AM

I hope this does destroy Obama’s presidency. He’s destroying our country, so turn around is fair play.

zoyclem on July 14, 2011 at 7:22 AM

“Yeah, I guess it was all too much effort for McConnell to fight for America.
JellyToast on July 14, 2011 at 7:01 AM”

No offense, JT, but if you think McConnell’s ‘plan’ would help the country you are mistaken. It amounts to giving Obama total control in hopes that he messes up so bad the country will then vote Republican. Meanwhile we end up going down the tubes even faster and IF the Republicans win, the hole the country is in will be much, much deeper. That’s not a good plan where I come from, that is what we would call apocalyptically self destructive. Particularly so when the Repubs have a lot of political leverage and public support in this matter. McConnell looks like he’s surrendering on the entire issue rather than do his job, or that he’s insane. That’s the take from my environs.

JimP on July 14, 2011 at 7:24 AM

My take.

kingsjester on July 14, 2011 at 7:25 AM

If Obama proposes cuts to entitlements or changes to them, then he will have let the cat out of the bag that they aren’t ‘entitlements’ but normal Congressional spending programs. That there is no ‘guarantee’ on them and that they exist by the will of Congress and our ability to finance them… and by proposing changes he will be admitting we can’t finance them.

Once let out of the bag, that cat will run wild.

And his threats to cut of granny’s checks will also play into that as people will realize that they have a President who doesn’t care about them, about entitlements but about having more spending power with which to spend us into oblivion. Basic math kicks in when 2 + 2 are added up, and the result is not expected by Obama, the Left or much of any of the Elites in both parties. The entitlement party is just about over now, and the time to prepare for their end was about 2 years ago. You were warned. The Gods of the Copybook Headings will not be denied.

ajacksonian on July 14, 2011 at 7:25 AM

Here’s an accurate summary on the Debt Ceiling issue for anyone interested.

http://www.americanthinker.com/2011/07/the_debt_ceiling_charade.html

JimP on July 14, 2011 at 7:28 AM

nice wrap up KJ…

cmsinaz on July 14, 2011 at 7:33 AM

To the average Joe, like myself, just trying to earn a living and care for their family, the whole economic system is a more than a little bit of a mystery. It looks like a web of interconnected elements, all tugging at one-another and threatening to collapse the system if any one of them breaks. Is there any simple way for someone with poor math skills and no time to go back to college to understand all this? I hate not understanding something that ought to be understood and relying on people I don’t know to tell me the “truth”.
Oh, and Obama’s a dick (had to throw that in to stay connected to this thread).
SKYFOX on July 14, 2011 at 5:46 AM

The trick is to find the relationships that don’t change (the invariants) and not get lost in the details. Most important is the money is just a placeholder for wealth. As far as banking goes, the root problem is the way that savings accounts have set values, rather than floating values: it makes it so that the bank can only keep it’s promises to the first people that demand their money back.

Count to 10 on July 14, 2011 at 7:34 AM

some stupid poll indicates that the majority of folks blame W for this crisis instead of dear leader…it boggles the mind, who did they poll?

cmsinaz on July 14, 2011 at 7:34 AM

When Obama said “I’m going to take this to the American people” Cantor should have said, “I represent the will of the American people, They sent me here. By walking out on me, you are walking out on them.”

txmomof6 on July 14, 2011 at 7:38 AM

txmomof6 on July 14, 2011 at 7:38 AM

excellent
:)

cmsinaz on July 14, 2011 at 7:40 AM

nice wrap up KJ…

cmsinaz on July 14, 2011 at 7:33 AM

Thank you, ma’am!

kingsjester on July 14, 2011 at 7:44 AM

some stupid poll indicates that the majority of folks blame W for this crisis instead of dear leader…it boggles the mind, who did they poll?

cmsinaz on July 14, 2011 at 7:34 AM

Most likely the entire state of Vermont.

pilamaye on July 14, 2011 at 7:53 AM

pilamaye on July 14, 2011 at 7:53 AM

heh

:)

cmsinaz on July 14, 2011 at 8:02 AM

Does Barry know that the purpose of the “bluff” is to try and convince the other player that you’re holding a much better hand than you really have, so that the other player will fold? IOW, the bluff only works when the other player doesn’t know it’s a bluff. If you tell him you’re bluffing, he’ll always call you (or even raise you).

Barry seems to be every bit as knowledgeable about effective negotiating as he is about liability insurance and stock P/E ratios.

AZCoyote on July 14, 2011 at 8:03 AM

Buy side, Baby.
blink on July 14, 2011 at 1:45 AM

So to recap: First, you said giving your occupation would provide too much detail. Then I mocked you and listed a bunch of possible financial employers, and in your next post you picked one of them and said you do that.

LOL.

I’ll tell you what, why don’t you talk about something PE or M&A-related that doesn’t simply regurgitate something I’ve already written?

crr6 on July 14, 2011 at 8:04 AM

Lazy counterfactual is lazy.

crr6 on July 13, 2011 at 10:22 PM

Obama acolyte troll is trolling.

Good Lt on July 14, 2011 at 8:16 AM

Eric, don’t call my bluff.

I haven’t read through all seven pages of comments, but isn’t Barry admitting he’s bluffing?

txsurveyor on July 14, 2011 at 8:24 AM

Correlation does not equal causation. I’m sure you’d agree, given the results of the Clinton tax rates.

crr6 on July 13, 2011 at 11:00 PM

Clinton was boxed in on his SPENDING by a GOP Congress.

And even Clinton, and Obama, have said that you can’t raise taxes in a recession.

You’re really bad at this.

Good Lt on July 14, 2011 at 8:25 AM

Sounds to me that the Won is cracking up. I’ve seen better behavior from 5 year olds in a sand box. Isn’t Cantor Jewish?
Hmmmmm.

Kissmygrits on July 14, 2011 at 8:45 AM

SKYFOX,

Is there any simple way for someone with poor math skills and no time to go back to college to understand all this? I hate not understanding something that ought to be understood and relying on people I don’t know to tell me the “truth”.

Start here. Then go here. Both blogs are excellent resources. Karl Denninger has been blogging about the economic crisis since 2007 and has an extensive archive. Check in daily and you’ll be up to speed quickly on the true state of the economy.

Don L,

Thanks for the reminder – excellent information. Is this what is essentially making Moody’s nervous, or is it the QE1,2,3s, or failure to seriously cut our debt?

All of the above. Throw in a trillion dollars in government student loan liabilities and the vast untold expenses of Obamacare and you have all the ingredients for a perfect sh*tstorm.

Even if a grand bargain is hammered out regarding the debt ceiling, it would not surprise me in the least to see the U.S. get downgraded. Moodys and the other ratings agencies are under a lot of pressure from Europe and Asia to take a harder line against the United States. The per capita debt load in Greece is $44,000 per person. In the U.S. the per capita debt load is $45,000 per person. Yet while Greece’s credit rating is junk, the United States has only been warned of possible downgrades. The perception abroad is that these ratings agencies are as crooked as a FIFA referee and their ratings are biased in favor of the U.S.

Mike Honcho on July 14, 2011 at 8:48 AM

I sure am tired of 50% of the population having their hard earned dollars forcibly taken to further the democrat party.

Do democrats stand for anything besides spending? Take that away from them and the party collapses. They offer nothing else except dependency.

darwin on July 14, 2011 at 8:50 AM

Let’s have some real “shared sacrifice”. Start taxing those who pay nothing.

darwin on July 14, 2011 at 8:51 AM

“This may bring my presidency down…”

It is devoutly to be wished…the sooner the better for our nation’s sake.

onlineanalyst on July 14, 2011 at 8:52 AM

SKYFOX

Here’s a good brief summary that may help.

http://www.americanthinker.com/2011/07/the_debt_ceiling_charade.html

JimP on July 14, 2011 at 8:56 AM

This may bring his presidency down?????

You reap what you sow, Mr. President. This is the result of your policies and people are paying attention now.

jeffn21 on July 14, 2011 at 9:00 AM

Three. More. Weeks.

Ugh. NO MORE TAXES. QUIT SPENDING. simple stuff really.

scalleywag on July 14, 2011 at 9:01 AM

So did anybody ever figure out why Obama didn’t want to have cameras at his his temper tantrum?

So now what? He goes on TV and says: “The government can’t stop spending 40% more than it’s taking… because the Republicans were all mean to me!”

I hate to say it, but with enough media spin, this will probably work.

logis on July 14, 2011 at 9:02 AM

I don’t understand. How can the U.S. credit rating be reduced if we don’t increase our debt limit? I would think if we spend less and not incur more debt we would maintain our rating, right?

gatorfanatic on July 14, 2011 at 9:04 AM

Ugh. NO MORE TAXES. QUIT SPENDING. simple stuff really.

scalleywag on July 14, 2011 at 9:01 AM

NO! SHUT UP, YOU BIG DOODEYHEAD!

(Obama walks out and slams door).

Good Lt on July 14, 2011 at 9:05 AM

push comes to shove the Dems will blink over a short term extension.

rob verdi

Not based on history, the sad fact is that the rube Republicans will be rolled by the city slicker Democrats.

I’m afraid that the Republicans will not only blink but give him everything he wants…..wait for it, sigh.

E9RET on July 14, 2011 at 9:07 AM

Dr. Zero’s Latest:

Obama Does Not Answer Questions, He Pronounces If you want answers, you’ll need a subpoena. by John Hayward

Obama generally dislikes questions, such as “Why is unemployment so much higher than you said it would be without your trillion-dollar stimulus?” or “Why is ObamaCare not ‘on the table’ during debt negotiations, but Social Security checks for seniors are?”

He’s no better at answering them in writing. The White House lawn is littered with the corpses of ignored FOIA requests and Congressional inquiries.

For example, the House Energy and Commerce Committee is considering a subpoena to obtain requested documents concerning the Energy Department’s massive loan guarantee to Solyndra, Inc. They requested these documents 120 days ago, but so far they’ve got nothing.

NMRN123 on July 14, 2011 at 9:10 AM

“This may bring my presidency down, but I will not yield on this”

From BO’s mouth to God’s ears

katiejane on July 14, 2011 at 9:16 AM

from href=”http://http://www.americanthinker.com/2011/07/the_speech_boehner_should_give.html”>

Our opinion on that is this. When you need your horse to pull your wagon out of the ditch, at some point you should stop whipping the horse and start unloading the wagon.


Which makes the REAL POINT of this ‘debt ceiling’ issue in terms even the stupid Americans who aren’t paying attention can understand.

Maybe even President Obama could understand it too.

jackal40 on July 14, 2011 at 9:17 AM

Yeah, I guess it was all too much effort for McConnell to fight for America.

JellyToast on July 14, 2011 at 7:01 AM

My understanding is that McConnell’s plan forces Obama to propose cuts in order to get debt ceiling increases, and makes it easier for Congress to approve them. Isn’t that a good thing?

hawksruleva on July 14, 2011 at 9:19 AM

I don’t understand. How can the U.S. credit rating be reduced if we don’t increase our debt limit? I would think if we spend less and not incur more debt we would maintain our rating, right?

gatorfanatic on July 14, 2011 at 9:04 AM

I see it the same way. Is Moody going to downgrade us for not raising the debt ceiling? Or are they going to downgrade us for not having a plan to actually reduce our debt?

hawksruleva on July 14, 2011 at 9:23 AM

(Obama walks out and slams door).

Good Lt on July 14, 2011 at 9:05 AM

OK, sooner or later somebody just has to ask: Did Barry just close his dick in the door?

Yoop on July 14, 2011 at 9:32 AM

My understanding is that McConnell’s plan forces Obama to propose cuts in order to get debt ceiling increases, and makes it easier for Congress to approve them. Isn’t that a good thing?

hawksruleva on July 14, 2011 at 9:19 AM

So what if he doesn’t? Then what?

Ten bucks the cuts will come from the military. Always.

Good Lt on July 14, 2011 at 9:32 AM

“This may bring down my presidency . . . .”

Barry’s already trying out new excuses for why he’ll be a one-termer.

AZCoyote on July 14, 2011 at 9:32 AM

…How does the everyday person find out about all this stuff? There should be a Government for Dummies book!

marge on July 14, 2011 at 1:11 AM

If you find that book, let’s send a copy to our idiot president.

slickwillie2001 on July 14, 2011 at 9:33 AM

“Eric, don’t call my bluff. I’m going to the American people with this.”

You do that, champ.

Vashta.Nerada on July 14, 2011 at 9:45 AM

Is Moody going to downgrade us for not raising the debt ceiling? Or are they going to downgrade us for not having a plan to actually reduce our debt?

hawksruleva on July 14, 2011 at 9:23 AM

The second. That, and threats to default on debt rather than cut back on welfare spending.

Vashta.Nerada on July 14, 2011 at 9:47 AM

My understanding is that McConnell’s plan forces Obama to propose cuts in order to get debt ceiling increases, and makes it easier for Congress to approve them. Isn’t that a good thing?

hawksruleva on July 14, 2011 at 9:19 AM

Osama Obama has already proposed lots of cuts. “We’ve gotta cut” and “My plan will cut” and “There are gonna be cuts.”

Sad thing is, the lyin’ POS never completed those thoughts with specifics, and never will.

Thanks to cowards like Mitch “as long as I keep my seat” McConnell, the Traitor-in-Chief will get everything he wants and we, our children and grandchildren, will pay for it. If, that is, there is a United States left standing at the end of President-for-Life Obama’s term.

MrScribbler on July 14, 2011 at 9:57 AM

The president — frustrated — said there would be no short term extensions. It would be bad for the economy, and resolving the deficit issue certainly won’t be easier next year in the throes of the political season, he said.

Read: it won’t be easy for his campaign.

MadisonConservative on July 14, 2011 at 10:02 AM

resolving the deficit issue certainly won’t be easier next year in the throes of the political season, he said.

Why not?

Are politics more important than the nation’s fiscal health to this President?

Good Lt on July 14, 2011 at 10:05 AM

FUBHO. You louse, you tick, leach, bloodsucker.

You’ve lost the presidency when you ignored the majority of THE PEOPLE. When you use dictates to rule over us.

Since when you represent the American People? You and that wife of yours never acknowledged those of us who have grievous concerns about your legitimacy, your lack of leadership, and most of all your allegiance to the USofA.

Except when you and that wife of yours bring us up to belittle. I use to have the respect for the office of the presidency, not anymore, as long as you sit in that office. You started it and never let go, so don’t blame me.

Sir Napsalot on July 14, 2011 at 10:08 AM

Instead of continuing to negotiate with the zero and the libs, the house should pass a bill that makes the cuts they want, and increases the debt limit appropriately. Then kick if over to the Senate… put it in their court. “Just Do It” as Nike would say.

Dasher on July 14, 2011 at 10:16 AM

Sounds like the GOP needs to have a full contingent out to the Sunday panels and any other interviews available. If BO wants to “take it to the people” it’s time for the GOP to find their backbones and squarely present their position/side to the public without mincing about stepping on BO’s toes.

He’s already offerred up his presidency for this – let’s take him up on his offer rather than wimp around. He going to lie and spin to the public to make the GOP look like demons so defending our proposals isn’t going to make anything worse.

katiejane on July 14, 2011 at 10:18 AM

SKYFOX

Here’s a good brief summary that may help.

http://www.americanthinker.com/2011/07/the_debt_ceiling_charade.html

JimP on July 14, 2011 at 8:56 AM

JimP:
Thank you for that. I’m going to go and hang myself now.

SKYFOX on July 14, 2011 at 10:21 AM

obama and dems version of compromise: you agree with me
gop’s (current) version of compromise: you agree with the American people

ConservativePartyNow on July 14, 2011 at 10:24 AM

The Democratic spin on what happened is that Cantor “rudely” interrupted The One mid-finger-wag and he got huffy and walked out.

Really? Eric ‘stuffed locker” Cantor? Guess now is the time to breathe a sigh of relief they never arranged for that hardcore pow-wow with Ahmadinejad.

RepubChica on July 14, 2011 at 10:25 AM

“This may bring my presidency down”

In the words of the great Gimli

“Well, what’er we waitin’ for?”

BobMbx on July 14, 2011 at 10:30 AM

Cantor says they can get a deal for $1.5 trillion in cuts through the House.

Then do it! Pass the bill. It will be difficult for the Dems to blame the GOP when the GOP has passed a debt ceiling increase and the Dems have done nothing. Seriously – its like these guys don’t know anything about politics.

besser tot als rot on July 14, 2011 at 10:31 AM

Heck, the GOP could remove a minor tax deduction or two and claim that they have taken a balanced approach of cutting spending and increasing revenue.

besser tot als rot on July 14, 2011 at 10:34 AM

“Eric, don’t call my bluff. I’m going to the American people unions with this.”

Prepare for nationwide labor problems until their federal funding is secured through 2013.

In other words, Obama is taking a card from the French.

BobMbx on July 14, 2011 at 10:34 AM

…How does the everyday person find out about all this stuff? There should be a Government for Dummies book!

marge on July 14, 2011 at 1:11 AM

Marge, you may be onto something. Contact an agent and publisher asap!

ProudPalinFan on July 14, 2011 at 10:45 AM

Reid: Cantor should not be in debt limit talks
By LAURIE KELLMAN – Associated Press | AP – 37 mins ago
……….WASHINGTON (AP) — Senate Majority Leader Harry Reid says House Majority Leader Eric Cantor should not be part of the debt limit negotiations. He’s calling the Virginia Republican congressman “childish.”

Reid says Cantor’s conduct during the sensitive White House talks have shown, in Reid’s words, “he shouldn’t even be at the table.” Reid says other congressional leaders are negotiating in good faith as an Aug. 2 deadline approaches for raising the debt limit.

That’s when the Obama administration says the government would begin defaulting if no agreement is reached to raise the borrowing limit. Leaders of both parties and the business world have said that a default would be catastrophic.

The daily talks ended Wednesday with Obama and Cantor clashing, and the president leaving the room. They resume late Thursday afternoon.

I know you are but what am I……

BobMbx on July 14, 2011 at 10:46 AM

“JimP:
Thank you for that. I’m going to go and hang myself now.
SKYFOX on July 14, 2011 at 10:21 AM”

LOL I know the feeling. Rather than doing that though I plan to stick around long enough after the collapse to vigorously resist the zombies.

JimP on July 14, 2011 at 10:49 AM

In related economic news, another 400,000 people filed for unemployment.

But of course the headlines are uh less direct than that. Especially from AP. They are so convoluted lately. Half the articles are gibberish to boot.

dogsoldier on July 14, 2011 at 10:55 AM

Reid: Cantor should not be in debt limit talks
By LAURIE KELLMAN – Associated Press | AP – 37 mins ago
……….WASHINGTON (AP) — Senate Majority Leader Harry Reid says House Majority Leader Eric Cantor should not be part of the debt limit negotiations.

But the house Minority leader Nanzi Pelosi should be?

Guffaw.

Key West Reader on July 14, 2011 at 10:59 AM

1. “Buy side” isn’t an employer. “Buy side” doesn’t give my occupation. “Buy side” describes the function within the finance/investment world…

blink on July 14, 2011 at 10:16 AM

Nice job of gently spanking crr6 throughout this thread.

Gang-of-One on July 14, 2011 at 11:20 AM

blink on July 14, 2011 at 10:16 AM

A common trolling desperation tactic is to demand personal information from other commenters. It’s supposed to intimidate you into silence, or something.

slickwillie2001 on July 14, 2011 at 11:50 AM

Weigel also clarifies the terms of the actual dispute between O and Cantor. Cantor says they can get a deal for $1.5 trillion in cuts through the House. Problem is, the GOP’s vowed not to raise the debt ceiling by more than the amount in total cuts and a $1.5 trillion debt-ceiling hike won’t get us past the election next year. That makes The Perpetual Campaigner unhappy, so either the GOP will have to step back from its vow or O will have to agree to deal with the debt ceiling again — just a few months before election day, when the incentives on both sides to hold out will be even greater than they are now.

Cantor, Boehner, and the House Republicans need to stick to their guns here. Obama seems to be truly afraid of not getting a debt-ceiling increase that puts the next crisis until after the 2012 election, meaning that he fears having to debate this issue again before the election more than he believes Republicans will be hurt by these negotiations.

Republicans should pass their $1.5 trillion in cuts through the House, with a matching debt-ceiling increase, send it to the Senate, and let the chips fall where they may. If the Senate fails to pass it, or Obama vetoes it, then the Obama Administration will have to drastically de-fund SOME Government agencies to avoid default, at a rate of $1.5 trillion per year, or about $120 billion per month. Obama, not the Republicans in Congress, would have to answer to those whose oxen were gored.

One HotAir commenter yesterday wrote that the Federal debt rose from $9.1 trillion in 2008 to near $14.3 trillion now. This suggests another strategy for Republicans to blame this on Obama.

The deficit on the last budget approved under G. W. Bush was about $480 billion. If Obama had accumulated deficits at the same rate as Bush, it would have taken over 10 years to reach the debt ceiling, and Obama would have never faced this problem as President, even if he was re-elected in 2012.

It is Obama’s sharply increased spending and deficits which caused the debt ceiling to be reached in 2-1/2 years, instead of during his successor’s term. Democrats controlled both houses of Congress from 2007-2010, no Republicans voted for ObamaCare and only three voted for Porkulus, so Republicans can argue that it is the wild spending by Obama and Congressional Democrats that led to the debt-ceiling problem, not anything Republicans did.

Steve Z on July 14, 2011 at 12:15 PM

A common trolling desperation tactic is to demand personal information from other commenters. It’s supposed to intimidate you into silence, or something.

slickwillie2001 on July 14, 2011 at 11:50 AM

More often it’s the flipside of the “argument from authority.” It’s a form of inductive fallacy.

When someone is incapable of analytical, he can never attack or defend any argument based on its own merit. Ergo, will often resort to claiming that it must be true because of his own personal wonderfulness: e.g., because he’s spent massive amounts of time and effort studying that one topic.

Of course, from a non-subjective point of view, that does nothing to magically make what he originally stop being patently stupid. All it does is take away any excuse he could possibly have for saying it in the first place – save that of congenital foolishness.

Likewise, a liberal can never attack any argument on its face. All his attacks must always be personal. And once that starts, the holder of the presumptively “wrong” opinion can NEVER have high enough credentials to “prove” that he was qualified to propose it.

logis on July 14, 2011 at 12:28 PM

slickwillie2001 on July 14, 2011 at 11:50 AM

Don’t forget the refusal to give out any of one’s own information. Before I joined there was some poster who called out a real gem of a troll, one who made Flush Limbaugh look like Einstein in comparison.

Unfortunately they both got banned (I think)…I would have paid for front row seats to see that squealing sh!thead getting his fat butt kicked.

Uncle Sams Nephew on July 14, 2011 at 12:33 PM

squealing sh!thead getting his fat butt kicked.

Uncle Sams Nephew on July 14, 2011 at 12:33 PM

Tantrum much?

Key West Reader on July 14, 2011 at 12:52 PM

Does Barry know that the purpose of the “bluff” is to try and convince the other player that you’re holding a much better hand than you really have, so that the other player will fold? IOW, the bluff only works when the other player doesn’t know it’s a bluff. If you tell him you’re bluffing, he’ll always call you (or even raise you).

AZCoyote on July 14, 2011 at 8:03 AM

Barry just told Cantor that Cantor holds the better hand.

Cantor (and Boehner) need to go all in, and win.

Steve Z on July 14, 2011 at 1:00 PM

Just curious… when Barry storms out of a meeting, does TOTUS storm out, too????

Just wondering, ’cause maybe Cantor and crew could carry on just as effectively by continuing the dialogue with TOTUS — and let Barry head off to the Vineyard on schedule.

fred5678 on July 14, 2011 at 1:35 PM

I HAD to comment on this. I saw on the front page where there were 666 comments and it just gave me the “heeby-jeebys” think of that number and Obama…

Nineball on July 14, 2011 at 2:19 PM

JimP on July 14, 2011 at 7:24 AM

I have totally opposed McConnell’s plan from the beginning. It’s moronic.

JellyToast on July 14, 2011 at 2:36 PM

In addition to Air Force One and Marine One, we now need “Whaaambulance! One” for this sorry ass pathetic crybaby of a President.

infidel4life on July 14, 2011 at 2:36 PM

Eat, Obama. You look so skinny. You have to eat.

Key West Reader on July 14, 2011 at 3:09 PM

“….might bring down [his] presidency”?

Be still my beating heart!!!!!

Go Republicans! Beat his O’liness like a rented mule!!!

Sweet_Thang on July 14, 2011 at 3:19 PM

Haha. The great uniter. What a joke this guy has become.

Scrappy on July 14, 2011 at 3:50 PM

Did anybody notice that Obama indicated that social security recipients and the military might not get paid but he didn’t mention that he, his leftist administration, Acorn, his unions, or any of his other slimy Marxist initiatives would receive no more funds. Any president that jumps quickly to punish those who have willingly offered there lives for this country is a despicable loser.

rplat on July 14, 2011 at 4:05 PM

Did anybody notice that Obama indicated that social security recipients and the military might not get paid but he didn’t mention that he, his leftist administration, Acorn, his unions, or any of his other slimy Marxist initiatives would receive no more funds.
rplat on July 14, 2011 at 4:05 PM

Of course. That’s why Obama keeps saying he wants to “spread the sacrifice.” SEIU have already given FAR too much of themselves, and never once asked anything in return. It’s about time somebody made those slackers in the Army, Navy, Air Force and Marines finally step up and do something for their country.

logis on July 14, 2011 at 4:52 PM

Eat, Obama. You look so skinny. You have to eat.

Key West Reader on July 14, 2011 at 3:09 PM

The poor bastard lives with his mother-in-law, he probably hears that every damn day.

slickwillie2001 on July 14, 2011 at 4:59 PM

See the words he uses have meaning — even if they don’t seem to connect up with us average Uhmercans — if only as clues to his mindset. Does he really not understand that the US is not governed by an unevolved euro-style parliament and he is not a prime minister to be brought down? (That’s one of the benefits of having elections like clockwork. Tried to explain that to a Scot one time, and all he kept talking about was the cost of elections, cost cost cost. Really, a Scot worried about the cost of something. And they say stereotypes aren’t true.) The US system is predictable and stable, with no threat of having the government “collapse”. More brilliant innovation by the Founders. Yes, Barry, we’re stuck with you until January 2013, at minimum. He won’t be impeached because this House may have the sense to know he’d never be convicted in the current Senate, even though they could easily, EASILY, compile more high crimes and misdemeanors than what Monica scribbled in her diary about Uncle Bill’s cigars. And if the Senate turns in 2012 then he’s gone to. Sayonara. If only. Fingers crossed.

I think he’s just a pathetic, high-maintenance, flawed, fluffed up and sheltered personality, at his core, really pretty insecure for an egotist. He’s doomsaying himself. Keep him away from The Button.

curved space on July 14, 2011 at 6:09 PM

Tantrum much?

Key West Reader on July 14, 2011 at 12:52 PM

Miss the point much, except for the one under your hat?

The one poster took the dare, the other just kept at arms length like a schoolyard bully challanged by someone he knew could whup his bum. He should’ve been the only one banned…or better yet banned and had his IP posted.

Uncle Sams Nephew on July 14, 2011 at 9:55 PM

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