OBAMA: There Won't Be A Debt Ceiling Negotiation This Time!!!

Ooo I'm almost afraid.

In "off-the-cuff" remarks at the Business Roundtable in Washington, D.C, today, President Barack Obama was firm in a stance that he would not be "playing that game" of negotiating the raising of the debt ceiling. He said a rise in the debt ceiling would have to be a part of a deal to avert the so-called "fiscal cliff."

Obama quoted John Engler, the president of the Business Roundtable, who charged that it's "not a good weapon for anything except destroying our own credit rating."

"We are not going to play that game again this year," he said. "... We've got to break that habit before it starts."

Obama maintained that it's "not possible" to raise enough revenue by simply eliminating loopholes and deductions in the tax code in a deal to avert the so-called fiscal cliff.

Obama maintained that for a deal to be reached with Congressional Republicans, marginal tax rates must rise on incomes above $250,000.

"The notion that some how we're just going to eliminate charitable deductions is just unlikely," Obama said.


Read more: [link to www.businessinsider.com]

zerohedge‏@zerohedge

The Chart That Obama Should Have Checked Before He Started Speaking [link to www.zerohedge.com] …

Good morning, Luis!






Yikes!!!

Here we go in the USA!

Let's just rise the debt limit to a gazzilliontrizzillion dollars!



That's $1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,00​0,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000​,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,​000

(unless I forgot some zeros)

Hi my friend, this is not a good thing for your president to say... this will scare the markets!

Yes, Luis. He has scared many of us already. Now the markets...UGH. Pray for us.

I just moved from the midwest to the east coast. I was there for three years. Store after store, and restaurant after restaurant closed. It was sad to see this. More to come, I'm afraid.

really? So it's like Europe countries now... all business closing!

Obama rejects Republican 'fallback' budget

By Greg Robb WASHINGTON (MarketWatch) -- President Barack Obama on Wednesday rejected a nascent Republican plan that would have extended the bitter fight over the fiscal cliff into next year, closer to the deadline when the statutory borrowing limit must be passed. A report in the New York Times said this fallback position was gaining favor among Republican leaders. It would allow them to gain more leverage knowing that an increase in the debt ceiling must be passed. But, in blunt terms, Obama said that he would not negotiate a budget deal with the threat of the debt limit hanging over his head. "That is a bad strategy for America...and it is not a game I will play," Obama said.
[link to www.marketwatch.com]

the effective tax rate is over 100% because after you pay what they say, they say you still owe for 'your' piece of the national debt, and that happens to be more than you have, and likely more than you've ever made.

Thew will take what they can get with impled threats, and when that no longer works they'll show up with a truck and a locksmith and put you on the street if you cant come up with 2 mill cash.

John Houlehan 5pts
7 minutes ago "That is a bad strategy for America...and it is not a game I will play," Obama said.

But he is willing to play the game of the fiscal cliff only if tax rate increases and debt ceiling is lifted?

[link to www.marketwatch.com]

Fuck him.

Don't raise the debt ceiling. Go over the fiscal cliff.

Laugh your ass off.

from FRANK KERRY 5pts
9 minutes ago @John Huffman OBAMA,is acting like he won 48 states!

someone needs to remind him,49% of us

don't agree with his policies,the Republicans

will get blamed for going over the cliff,but he

won't come out untarnished,nor have decent

relations with the other side,he's misguided!


ShareFlag4LikeReply


from TERRY NONGIVEN 5pts
5 minutes ago This is the danger of the second term and term limits - he has NOTHING to loose. He is gainfully employed for the next 4 years, guarenteed to loose his job after those 4 years, and from there on out, $1million speaking engagements.
[link to www.marketwatch.com]

Business Insider‏@businessinsider

The Debt Ceiling Is Coming Back, And People Are Talking About The Infamous 'Trillion Dollar Platinum Coin' Solution [link to read.bi]

one trillionbazillionfogillionhundredthousandmillionbillion dollars

University of Michigan...ummm, Detroit is in Michigan.

Councilwoman from Detroit said, "we voted fo yo ass, now
come bail out what wez call ourz asses."

I'm am now more flexible.

I'm am

Eric Cantor‏@GOPLeader

The House will not adjourn the 112th Congress until a credible solution to the fiscal cliff has been announced.

I said it before and I will say it again..
There will be no America in 4 years.
Obama is here to Bring down America and he will do it..
Sadly..

Whoops, let me clarify, BO gets my BP up where my thinkin' gets cloudy...Zerohedge has a graph with a "survey", that is my reference to U of M.

GOOD RIDDANCE AMERICA .. YOU SUCK!

The Artificial Fiscal Cliff is not Credible!

3 buttons and your country is gone... so show some respect for the MASTERS OF WAR bich!

Business Insider‏@businessinsider

PETER SCHIFF: Eliminating The Debt Ceiling Would Be So Bad That It Could Be Good [link to read.bi]

I thought they were alraedy Bailed out.

I remember a Romney quote from the election, "let Detroit go bankrupt", a quote taken out of context and spun like a top by barry, joe, axelrod, and the rest of the Obama crew.

I remember another one too, "Osama Bin Laden is dead, and GM is alive", HUH?, why do they need to be bailed out more.

Obama will never learn that thhe "gibsmedat" crowd will never be happy, they will want more and more. They think it is their birth right to own gold chains, expensive baggy clothes, a cadillac, and a "crib".

Overwhelm the system

Create a crisis

Never let a good crisis go to waste

Overwhelm the system

Create a crisis

Never let a good crisis go to waste