Great debt ceiling quote

[Dick Whitman]

I think this sums it up:

"The full consequences of a default - or even the serious prospect of a default - by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result."

-- Jimmy Carter

 

[YankeeFan]

Somehow, I doubt President Obama will be quoting President Carter in order to rally support.

He's much prefer to quote President Reagan.

(Should have Googled the quote first.)

 

[Armchair_QB]

Might as well use the quote. Only difference between this term and Carter's is the lack of a hostage situation and a killer rabbit rising out of a Georgia swamp.

 

[Dick Whitman]

Carter might not have been a great President, but I think he was dead-on about the debt ceiling.

 

[YankeeFan]

Ok trivia question:

In Reagan's eight years in office, how many times did the debt ceiling need to be raised?

 

[Dick Whitman]

What does Reagan have to do with anything?

 

[Dick Whitman]

I can't tell if it's 17 or 18 from the story I read.

 

[Football_Bat]

Only difference between this term and Clinton's is the lack of a fat intern.

Fixed.

 

[YankeeFan]

I can't tell if it's 17 or 18 from the story I read.

I believe it was 17.

So, on average, what was the length of each extension?

 

[BTExpress]

Only difference between this term and Carter's is the lack of a hostage situation and a killer rabbit rising out of a Georgia swamp.

And a 13-point difference in mortgage rates.

 

[The Big Ragu]

It sounds like the former president is having his only little crisis of confidence.

 

[Starman]

Might as well use the quote. Only difference between this term and Carter's is the lack of a hostage situation and a killer rabbit rising out of a Georgia swamp.

Well, his election opponent committing treason by negotiating a deal with Iranian ayatollahs to keep hostages in captivity until after the election, too, but we've got a year or so to go, so give them time.

 

[Boom_70]

Honestly do not see anything original about it that everyone does not already know.

 

[Dick Whitman]

Honestly do not see anything original about it that everyone does not already know.

Ha. Not everyone, obviously.

 

[Baron Scicluna]

What does Reagan have to do with anything?

Simple. He's the hero of the GOP, the same party that is now objecting to the raising of the limit. Obama is merely pointing out the hypocrisy of the GOP's position.

 

[Piotr Rasputin]

What does Reagan have to do with anything?

Simple. He's the hero of the GOP, the same party that is now objecting to the raising of the limit. Obama is merely pointing out the hypocrisy of the GOP's position.

It's always shocking when politicians show hypocrisy, especially when their main goal is just to obstruct the other party.

Next you'll tell me that everything they do is just to get re-elected.

 

[Dick Whitman]

What does Reagan have to do with anything?

Simple. He's the hero of the GOP, the same party that is now objecting to the raising of the limit. Obama is merely pointing out the hypocrisy of the GOP's position.

It's always shocking when politicians show hypocrisy, especially when their main goal is just to obstruct the other party.

Next you'll tell me that everything they do is just to get re-elected.

Not Obama, though. I keep reading in David Plouffe's book how "different" he is when it comes to that. He doesn't actually care if he's elected or not.

It will, I swear to God, be the absolute last book I ever read that was written by a self-serving political insider. What a slog. And not that he isn't talented or a good guy. But, man, is it sugar-coated.

 

[BitterYoungMatador2]

Yes, Carter was a horrible president. One of the few to tell us we better get our act together in regards to our energy situation, or else we'd...be about where we are right now. Of course, in the land of big bellies and big jingoism, no one wanted to hear that realism **** so we hired a guy with years of acting experience to lie to us and tell us everything's still fine.

 

[The Big Ragu]

Yes, Carter was a horrible president. One of the few to tell us we better get our act together in regards to our energy situation, or else we'd...be about where we are right now. Of course, in the land of big bellies and big jingoism, no one wanted to hear that realism **** so we hired a guy with years of acting experience to lie to us and tell us everything's still fine.

"Beginning this moment, this nation will never use more foreign oil than we did in 1977 -- never."

If only President Realism could have worked his magic and made solar power cheap and plentiful.

 

[Boom_70]

In past this is what this routine bill has looked like:

Joint Resolution



Increasing the statutory limit on the public debt. <<NOTE: Feb. 12,
2010 - [H.J. Res. 45]>>

Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled, That subsection (b) of section
3101 of title 31, United States Code, is amended by striking out the
dollar limitation contained in such subsection and inserting in lieu
thereof $14,294,000,000,000.