Debt Ceiling Predictions?

Will the Republicans win and get it done on time with no tax increases and significant spending reductions?
Will the Republicans cave?
Will America default?

I think it will be a last minute compromise that both sides will spin as a win.

2.5 Trillion, no tax increase, bond rating downgrade threat, eventual AAA downgrade, rising interest costs will negate any deficit savings. We are toast.

I hope they will compromise with a combination of some tax increases and some spending cuts and that both sides feel some pain.

That's usually the acid test of a fair and good agreement.

But what i think will ACTUALLY happen?

I think the jackasses on both sides will play this game for political gain and with reckless disregard for just what a dangerous situation we are in.

AspenValley wrote: I hope they will compromise with a combination of some tax increases and some spending cuts and that both sides feel some pain.

That's usually the acid test of a fair and good agreement.

But what i think will ACTUALLY happen?

I think the jackasses on both sides will play this game for political gain and with reckless disregard for just what a dangerous situation we are in.

Couple questions. First of all when you say tax increases, do you mean closing loopholes or the tax increases that don't save any money? And second, what is up with the saying 'both sides need to feel some pain'? WHY? So the tax increases that don't have any effect ($3 billion over 10 years) are just to make the Republicans and some Americans feel pain? So it's just a pricnipal thing not an economic move? I agree on closing loopholes. But the tax increase is purely a posturing stance that is only meant to make some feel pain for the screwups that the Democratic congress has made for 4 years. That makes no sense.

The Viking wrote:

AspenValley wrote: I hope they will compromise with a combination of some tax increases and some spending cuts and that both sides feel some pain.

That's usually the acid test of a fair and good agreement.

But what i think will ACTUALLY happen?

I think the jackasses on both sides will play this game for political gain and with reckless disregard for just what a dangerous situation we are in.

Couple questions. First of all when you say tax increases, do you mean closing loopholes or the tax increases that don't save any money? And second, what is up with the saying 'both sides need to feel some pain'.

1. I'm not going to go into the debunking of the Republican magical thinking that says that higher taxes do not increase tax revenues. You either understand that that is a bunch of feel-good unicorn farts or you don't - and obviously you don't. I'm opposed to higher taxes on middle income families at this time, they are struggling enough, but there is no way in hell we are going to make any progress on the deficit by leaving the Bush tax cuts on households earning $1,000,000 plus a year in place. And yes, closing loopholes would help, as would getting rid of a lot of tax deductions that benefit only the wealthy.

2. The rule of thumb of both sides feeling some pain is a long-established principle in mediated disputes. If one side goes away from the table jubilant and the other feeling defeated, it usually means the outcome was unfair. When both sides go away thinking "well, we lost on that point but we DID get what we wanted on this...." it's a sign of a good agreement.

AspenValley wrote: 2. The rule of thumb of both sides feeling some pain is a long-established principle in mediated disputes. If one side goes away from the table jubilant and the other feeling defeated, it usually means the outcome was unfair. When both sides go away thinking "well, we lost on that point but we DID get what we wanted on this...." it's a sign of a good agreement.

Wrong! The Republicans and Americans have felt the pain for several years now when the Dems controlled both houses. The Republicans had to watch the Dems steamroll all the spending and bailouts through and raise our debt faster than ever in history. Now they want the R's to feel pain AGAIN to make it equal when trying to pay for it? NO! It hs the Dems turn to feel some pain. They have gotten everything they wanted for 4 years! Time for THEM to give and not make the R's keep giving in!

The Viking wrote:

AspenValley wrote: 2. The rule of thumb of both sides feeling some pain is a long-established principle in mediated disputes. If one side goes away from the table jubilant and the other feeling defeated, it usually means the outcome was unfair. When both sides go away thinking "well, we lost on that point but we DID get what we wanted on this...." it's a sign of a good agreement.

Wrong! The Republicans and Americans have felt the pain for several years now when the Dems controlled both houses. The Republicans had to watch the Dems steamroll all the spending and bailouts through and raise our debt faster than ever in history. Now they want the R's to feel pain AGAIN to make it equal when trying to pay for it? NO! It hs the Dems turn to feel some pain. They have gotten everything they wanted for 4 years! Time for THEM to give and not make the R's keep giving in!

That's the kind of thinking that causes catastrophic government shutdowns....and expensive contested divorces. :Whistle

Seriously, The Dems have played for 4 years with all the control in congress. They ran up HUGE debts and put through all their pet projects while the R's were feeling the pain with not enough votes to stop them. Now when it comes time where they see America has turned against them and voted many of them out and put R's in the House, they say we need to stop this and fix it, and they say that the R's have to sacrifice more and feel equal pain to pay for the debt THEY made! That is CRAP! The Dems got all they wanted for 4 years and now it is THEIR turn to feel some pain and sacrifice! They have gotten $4 trillion and they are whining about $3 billion more that the R's wont' give up? Are you kidding me?

AspenValley wrote:

The Viking wrote:

AspenValley wrote: 2. The rule of thumb of both sides feeling some pain is a long-established principle in mediated disputes. If one side goes away from the table jubilant and the other feeling defeated, it usually means the outcome was unfair. When both sides go away thinking "well, we lost on that point but we DID get what we wanted on this...." it's a sign of a good agreement.

Wrong! The Republicans and Americans have felt the pain for several years now when the Dems controlled both houses. The Republicans had to watch the Dems steamroll all the spending and bailouts through and raise our debt faster than ever in history. Now they want the R's to feel pain AGAIN to make it equal when trying to pay for it? NO! It hs the Dems turn to feel some pain. They have gotten everything they wanted for 4 years! Time for THEM to give and not make the R's keep giving in!

That's the kind of thinking that causes catastrophic government shutdowns....and expensive contested divorces. :Whistle

SO the Dems when in total control for 4 years can run up the largest debt in history, but when it comes time to clean it up they expect the R's to sacrifice too? BS! The Dems $3.7 debt increase in 2 1/2 years, so the dems sacrifice to fix it! Let them shut it down. It is ALL on Obama and the Dems. It is ALL their choice!

Are you seriously suggesting that the entire debt problem was created by the Dems? Because that's just flat out batsh*t crazy.