US Stocks Down 15% in 2 Weeks

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What's funny is that this is basically TARP-redux.

Threaten end of the world if we don't pass TARP (in this case, raise debt ceiling with fake cuts and revenue increases).  Pass TARP (debt ceiling raise, etc.), market crashes.

Am I basically the only poster here who was against both pieces of legislation?  Serious question really.

Most non-gullibles could determine such.

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The veto would have led to precisely the same collapse.  The only way to avoid the depression was for the Republican congress to raise taxes upon the rich.

So Obama had the power, but lacked the leadership to use it.

No, he had no power at all.  He could accept the House's madness, and have a depression, or veto and have a depression.  It is the same either way.  He had no power at all to change anything.

Yes, there are two things, in tandem, to solve the fiscal problem, cut spending and raise revenue.

Actually a more responsible economic program - and one which would have lead to a more secure AAA rating - would be to increase both spending and taxation.

This is why the present situation exists. Democrats aren't talking about a "balance" between taxes and so-called "cuts."  Their intention in raising taxes is to spend the money. That is why it is utterly pointless for Republicans Conservatives to agree to any new taxes. They won't reduce the deficit. The Democrats politicians would just spend the money, and point to the ballooning deficit to justify even more taxes [that will in turn be spent, ad infinitum.]

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Er... I seem to remember that the last time we raised taxes and thereafter had a surplus, the Republicans spent it all on wars and pointless tax cuts for the rich that have resulted in our current debt problems.

You mean the last time the Republicans (and Clinton, but I repeat myself) stole from Social Security and called it a surplus.