Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
when the republicans needed it raised, a few democrats would say "Don't raise this to fund war" (Cold or Hot war)
when democrats needed it raised, a few republicans would ***** about social programs.
then came the mental midgets of the tea party. for the first time in 75 runs through this, they refused to let it pass to get exactly what they wanted.
if the democrats have any spine at all, they will pay them back ten fold.
no debt ceiling without universal health care
no debt ceiling without comprehensive immigration reform
no debt ceiling without trashing our regressive tax code that rewards theft of the commons
See no right-wingers in the past were dumb enough to set off this nuclear bomb. Now that they've done it, the right-lites (the democrats) are bound to get the house back one day and do the same.
So the only news in this whole episode of shock doctrine/disaster capitalism is that the game just went nuclear. Hostage taking and terrorism in fiscal policy is now allowed.
It is 100% real...the problem with it is that politicians went crazy during the whole mortgage crisis stating that people were irresponsible (which I don't dispute) and yet when they were held accountable for the debt of the government, suddenly it is justified. All I know is that I wish that more was done to cut expenses, debt, etc. but am not surprised with what happened. I just feel like it is time that we stop all this crazy spending and find what programs are unnecessary.
What pisses me off the most about this whole deal is that my generation is pretty much screwed because of all of this. Social Security probably won't be around, and if it is along with Medicare/Medicaid we probably will be a retirement age requirement of 80. It is quite depressing that I am paying into things that I will most likely never receive.
I believe that no matter how high the ceiling is raised politicians will spend until it's surpassed. To think that is not a matter of concern = burying your head in the sand. The nerve Europeans have to believe they know what's best for the US when they are wholehearted contributors to the global financial crisis.
No, we shouldn't have a debt ceiling at all and we're one of only two countries who has one. As Brooking Institute economist Barry Bosworth says: The U.S. debt ceiling "has no logical basis. Congress, through budget and appropriations bills, has sole authority to decide how much the government will spend," so he said "it makes no sense to have a secondary rule to then object to the deficit that emerges from the other decisions."
Quote:
The Tea Party often uses the household budget as a model for the U.S. budget. However, suppose my wife and I decided to work in jobs earning a total of $50,000, and we decided to make purchases totaling $100,000. Eventually, the credit card bill arrives and showing an increase in debt as a direct consequence of the choices I made. Do have any right to refuse to recognize the debt above so arbitrary limit?
The ignorance of our economic system is staggering sometimes.
If you have a car loan of 7000 dollars, at 10% interest, and you don't pay the interest, have you defaulted?
If you default, whats going to happen to your credit? The next time you try and use that credit, its going to cost you a higher interest rate.
That, in essence is the debt ceiling issue. Anyone who suggests that we don't raise it doesn't understand basic economics.
Want a balanced budget? Fine, the continuing resolution runs out in a few months, thats the time to do so. The debt ceiling was not the time to fight over this mess, and Republicans and Democrats have decided to ban together to make sure the TEA party can't try and do so again.
The debt ceiling was passed in 1917 for the sole purpose allowing the Treasury Dept to issue bonds to finance WWI without having to seek Congressional authorization to issue more bonds. The damned thing should have died upon signing the Treaty of Versailles. As previously mentioned, it is more than a bit ridiculous for Congress to **** and moan over raising the debt ceiling after authorizing the expenditure of money that results in the need to increase the amount of public debt. It's insane.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What I mean ..............
