House votes down raising debt ceiling (dollar, Bush, spend, bill)

[floridasandy]

we are over 14 trillion dollars in the hole. maybe it's time to take away the government credit card.

the government can learn to live within its means.

they will still be collecting revenue.

perhaps they can make do with the money they collect.

[Winter_Sucks]

Originally Posted by roysoldboy

Well maybe the GE tax break from last year would help. That is especially true now that Obama has taken their CEO to his breast.

They should too. All of that tax code funny business should get cleaned up as part of the debt deal. There's no reason why businesses making billions in profit need these tax breaks. Get rid of those before cutting aid to seniors and the poor.

[ringwise]

Originally Posted by Winter_Sucks

You're aware that if we don't raise the debt ceiling, paying the interest on the debt alone will skyrocket?

Not raising the debt limit would actually increase our debt. A better plan, which is what the GOP is doing, is to attach spending cuts and reforms to a debt limit increase.

Well then, congress better get cracking. Biden needs to come back and do his job. Obama needs to stay off the links and do his job. The dems in congress need to stop tweeting coeds and start thinking what they'd like to cut.

I agree that there needs to be cuts. But the dems were pushing for a straight up vote. Well, they got one.

[ringwise]

Originally Posted by Winter_Sucks

So you would be willing to end the $21 billion oil companies get each year in tax breaks to help lower the deficit?

As long as spending by the govt goes back to pre-2008 levels, that could be discussed.

[Winter_Sucks]

Originally Posted by ringwise

As long as spending by the govt goes back to pre-2008 levels, that could be discussed.

Why 2008? We were running deficits then too or is that just a good number because it was before Obama?

[Winter_Sucks]

Originally Posted by ringwise

Well then, congress better get cracking. Biden needs to come back and do his job. Obama needs to stay off the links and do his job. The dems in congress need to stop tweeting coeds and start thinking what they'd like to cut.

I agree that there needs to be cuts. But the dems were pushing for a straight up vote. Well, they got one.

Biden's group has already got to about $1 trillion in cuts.

[LauraC]

You guys should watch the cable news business channels to find out what's really going on with debt limit raising. It's an eye opener especially when it comes to the strategies of both political parties and what's really true and what isn't from the actual financial perspective. The regular cable news opinion jockeys are too squishy on finance knowledge so they prefer to talk politics and just regurgitate the political talking points. These are the same yahoos that never saw the recession coming or didn't think their viewers were capable of understanding it being the idiots they think we are.

[nmnita]

Originally Posted by florida.bob

No shock, but at least there were 97 Representatives willing to vote for keeping the Country solvent. I wonder how many of those 97 were Republican?

and there seems to finally be some smart Democrats on capital hill. Someone, somehow has to put a stop to spending and borrowing.

Nita

[OnTheLookout]

Originally Posted by TRUEGRITT

Apparently many Dems are coming to the same conclusion as the Republicans.

It's about time right? Common sense isn't blue or red.

[MTAtech]

Originally Posted by roysoldboy

Well maybe the GE tax break from last year would help. That is especially true now that Obama has taken their CEO to his breast.

That's just a red herring. GE has been getting this break since 2001. It has nothing to do with any association with Obama.