Skip to comments.Clinton to Obama: Don't blink on debt ceiling showdown
Posted on 07/03/2011 3:34:17 AM PDT by bobk333
"This is the political equivalent of the government shutdown when I was president," Clinton said. "The White House could blink. I hope not."
Clinton made his argument in front of a large crowd at the left-leaning Aspen Ideas Festival in Colorado Saturday. Should the United States default on its payments, the country's credit ratings will decline, Clinton said, and interest rates could rise.
Growing anti-government forces like the Tea Party are truly affecting healthy government reform, Clinton said. "It's astonishingly good politics," he admitted, "but poor economic policy."
(Excerpt) Read more at edition.cnn.com ...
Spending on handouts to special interests and cronies is good politics, but astonishingly poor economic policy.
You damn right us tea partiers are affecting ‘reform’. We are not for the ‘fundamental transformation’ of this country.
The government shut down twice under Clinton. Same story, different day...
The Clintons paved the way smoothly for Obama.
Who cares what this pervert has to say anymore.
I was going to jump on Clinton for using the term “anti-Government” after reflection I'll agree with that but contest the “affecting healthy government reform”. Coming from his ilk that's a joke.
They should cite all Obama's czars, his trips and vacations, Michelle's expensive junkets, on and on blame Obama and his cronies.
How about parties at the White House, expensive meals, cars, SUVs, unnecessary trips on Air Force 1, on and on?
Somebody should put together a big list of expenses to blame on Obama and the Repubs should memorize the list and repeat the points every time they are on the air.
It doesn't matter if the numbers add up - all that counts is the blaming of Obama.
My guess is that the Republicans will blink, Boehner will cry, and if necessary, Zero will declare a national emergency and simply assume control.
The problem we have is one that that only an election or impeachment can fix.
Interest rates SHOULD rise for a number of reasons. I believe that lack of return on savings is one of the things holding the economy back. Also, maybe if loan rates rose, banks would [really] start lending again. Who wants to make a loan which effectively has no return?
Impeachment starts in the senate so that option is off the table...
Incorrect. Impeachment starts in the Supreme Court, and is decided by the vote of the Cabinet in the Executive branch. In the event of a tie, the Speaker of the House casts the deciding vote.
Apologies to all.
What was I thinking of ?
No need to apologize to him...he’s wrong also...impeachment starts in the house of representatives...as best I remember...when Clinton was impeached!
0bamas call to increase taxes on The Rich and corporations sounds good to many, after all, The Rich have more money than they can use.
I ask these people what The Rich do with their money. Most just shrug. I tell them that their surplus isnt stuffed in a mattress or coffee can. They invest it. Money that is invested creates jobs, jobs create tax revenues.
Even though our government leaders refer to spending tax money as investing very little of it actually gives us a return on the dollar. Very little actually creates long lasting jobs.
When it comes to an increase in interest rates I wouldnt mind. I dont borrow money. Id like to see my savings account rate rise from .25%
Yes, Clinton was impeached by the House, The Senate rinos would not remove the scum bag from office.
Still recovering from our son’s wedding in Leavenworth, Washington.
The old man had too much wine...
First of all, there would be no default. OTHER spending might be cut, but government securities obligations would be given a high priority.
This would actually enhance the attractiveness of investment in U.S. securities, because it would demonstrate that we are serious about maintaining a sound economy.
Don’t just stand your ground, Boehner. Attack, attack, attack!
Oh, by the way, I wonder how many corporate jets were used by the attendees to get to and from this “Aspen Ideas Festival”? (snicker)