U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-01-2011, 05:36 PM
 
Location: Illinois
2,415 posts, read 2,603,504 times
Reputation: 336

Advertisements

OR is it another crooked lie
Rate this post positively Reply With Quote Quick reply to this message

 
Old 08-01-2011, 08:56 PM
 
201 posts, read 216,214 times
Reputation: 146
it's a non-issue normally

75 times they raised it with little to say.

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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-01-2011, 09:23 PM
 
Location: Brambleton, VA
2,186 posts, read 7,474,081 times
Reputation: 2178
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.

This wasn't a win-win situation.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 12:38 AM
 
Location: San Francisco, CA
15,092 posts, read 12,468,934 times
Reputation: 14244
what do you mean, do we "believe" it? This is verifiable fact reflected in legislation, not the tooth fairy we're talking about here.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 09:13 AM
 
Location: Los Angeles
14,371 posts, read 9,033,430 times
Reputation: 6651
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 09:18 AM
 
Location: Tampa Florida
22,232 posts, read 16,733,449 times
Reputation: 4584
It serves no purpose, should be rescinded so as to not allow it to be used again as a highjack tool. By either Party.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-04-2011, 12:14 AM
 
Location: Illinois
2,415 posts, read 2,603,504 times
Reputation: 336
Default What I mean ..............

Quote:
Originally Posted by ambient View Post
what do you mean, do we "believe" it? This is verifiable fact reflected in legislation, not the tooth fairy we're talking about here.
.........or what I think is , There is a Santa Clause but no such thing as a debt ceiling, how high will the debt go? How high can you count.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-04-2011, 10:42 AM
 
Location: West Michigan
12,372 posts, read 8,620,865 times
Reputation: 7362
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?
Eliminate the Debt Ceiling | Facebook
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-04-2011, 10:47 AM
 
Location: Sango, TN
24,874 posts, read 22,884,718 times
Reputation: 8659
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-04-2011, 11:04 AM
 
31,370 posts, read 34,719,695 times
Reputation: 14952
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.
Rate this post positively Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top