Buffett: GOP Threatening To 'Blow Your Brains Out' Over Debt Ceiling

[onehandle]

Source: Huffington Post

Republicans are playing a dangerous game by refusing to raise the debt ceiling, according to Berkshire Hathaway CEO Warren Buffett.

"We raised the debt ceiling seven times during the Bush Administration," Buffett told CNBC on Thursday. Now, the Republican-controlled Congress is "trying to use the incentive now that we're going to blow your brains out, America, in terms of your debt worthiness over time."

If Congress fails to raise the borrowing limit of the federal government by August 2, the date when the U.S. will reach the limit of its borrowing abilities, it will likely begin defaulting on its loans.

Buffett, who according to the Washington Post has helped raise money for Democratic candidates like Hilary Clinton in the past, has been highly critical of the actions of the Republican-controlled Congress. In May, Buffett stated at a Berkshire Hathaway shareholder's meeting that if the Congress failed to raise the debt ceiling, it would constitute "the most asinine act" in the nation's history, reports Reuters.

Read more: http://www.huffingtonpost.com/2011/07/07/warren-buffett-debt-ceiling_n_892332.html

[bertman]

1. SEVEN TIMES during the Bush years! That's one to remember. REC.

[MilesColtrane]

6. The Republicans currently in Congressional leadership positions combined to vote for...

a debt limit increase 19 times during the presidency of George W. Bush. In doing so, they increased the debt limit by nearly $4 trillion.

At the beginning of the Bush presidency, the United States debt limit was $5.95 trillion.

Despite promises that he would pay off the debt in 10 years, Bush increased the debt to $9.815 trillion by the end of his term, with plenty of help from the Republicans currently holding Congressional leadership

June 2002: Congress approves a $450 billion increase, raising the debt limit to $6.4 trillion. McConnell, Boehner, and Cantor vote “yea”.

May 2003: Congress approves a $900 billion increase, raising the debt limit to $7.384 trillion. All three approve.

November 2004: Congress approves an $800 billion increase, raising the debt limit to $8.1 trillion. All three approve.

March 2006: Congress approves a $781 billion increase, raising the debt limit to $8.965 trillion. All three approve.

September 2007: Congress approves an $850 billion increase, raising the debt limit to $9.815 trillion. All three approve.

Their current blackmailing stance is a display of rank hypocrisy at its finest.

[Grins]

8. He didn't have to!

That's because in 2001 Clinton handed our "MBA President" a surplus. Our national debt was going the other way.

If it wasn't for CLINTON'S surplus, Drinkey McStupid would have raised the debt limit eight times.

[defendandprotect]

2. This is all theater -- nonsense -- means nothing unless a Dem is in White House -- !!

Although Obama continues to "capitulate" to the GOP agenda the rightwing

is hyperactive to regain the White House --- must be desperate to cover up

something --

Global Warming?


Certainly their profits from the war aren't dropping -- !!!

We're spending $1,000 a gallon to buy gasoline from KBR in Iraq -- $1,000 to

keep a helicopter in the air for 1 minute!!

We're spending more on air conditioning for our troops in ME than we are on NASA budget!!


How is it that we all see the corruption but our president and our Dems in Congress just

can't smell it?

[PatrynXX]

5. same tactic kidnappers use.

Don't give them the money. they'll keep asking for more.., by then the person is dead...

[Fearless]

3. The reason it matters now is that the GOP knows they can get stuff from Obama.

[AndyTiedye]

7. Either That or they Can Wreck the Economy so Obama Loses in 2012

[Dawson Leery]

4. At this time, the GOP and their Tea Party thugs are the greatest threat to this nation and world.

[Doctor_J]

10. They're terrorists

and the terrorism isn't going to stop until we start fighting back - I actually mean fighting back

[Doctor_J]

9. Correction:

GOP and president