Debt ceiling not about spending?!

[Quantum Windbag]

Here is where I get confused, if Obama is telling the truth we really don't need to worry about the debt ceiling because it isn't about spending money. In fact, it doesn't actually allow us to spend money.

I want to spend a little time on this. It’s something called raising the debt ceiling. And it’s got a lousy name, so a lot of people end up thinking, I don’t know, I don’t think we should raise our debt ceiling, because it sounds like we’re raising our debt. But that’s not what this is about.

It doesn’t cost taxpayers a single dime. It doesn’t grow our deficits by a single dime. It doesn’t allow anybody to spend any new money whatsoever. So it’s not something that raises our debt.

Remarks by the President on the Government Shutdown | The White House

Given this statement, not raising the debt ceiling would not mean we can't spend money. That means that either Obama is lying to us, or we are all crazy.

 

[eflatminor]

How about this Mr Pres, let's live within our means. We take in a shitload of tax money every month, plenty to pay interest payments on the debt, SS and the military...and then some. How about we cut back on all the shit that isn't absolutely necessary. You can start by firing "non essential" federal employees. Who in the fuck employs someone that isn't essential?!

 

[eflatminor]

Here is where I get confused, if Obama is telling the truth...

You lost me there...

 

[Freemason9]

Here is where I get confused, if Obama is telling the truth we really don't need to worry about the debt ceiling because it isn't about spending money. In fact, it doesn't actually allow us to spend money.

I want to spend a little time on this. It’s something called raising the debt ceiling. And it’s got a lousy name, so a lot of people end up thinking, I don’t know, I don’t think we should raise our debt ceiling, because it sounds like we’re raising our debt. But that’s not what this is about.

It doesn’t cost taxpayers a single dime. It doesn’t grow our deficits by a single dime. It doesn’t allow anybody to spend any new money whatsoever. So it’s not something that raises our debt.

Remarks by the President on the Government Shutdown | The White House

Given this statement, not raising the debt ceiling would not mean we can't spend money. That means that either Obama is lying to us, or we are all crazy.

It isn't about increasing spending--it's about PAYING for stuff we already bought (like bombs, funding for senior centers, disability to jagoffs, bombs, intelligence operations, payroll, bombs, weather satellites, forestry operations, bombs, etc.).

But WHATEVER. I hope we do go into default; I'd love for the aristocracy to see it's T-bills and treasury notes approach zip in value. That's real redistribution of wealth!

LOL

 

[Freemason9]

How about this Mr Pres, let's live within our means. We take in a shitload of tax money every month, plenty to pay interest payments on the debt, SS and the military...and then some. How about we cut back on all the shit that isn't absolutely necessary. You can start by firing "non essential" federal employees. Who in the fuck employs someone that isn't essential?!

Congress is apparently non-essential.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

Who knew?

 

[LordBrownTrout]

How about this Mr Pres, let's live within our means. We take in a shitload of tax money every month, plenty to pay interest payments on the debt, SS and the military...and then some. How about we cut back on all the shit that isn't absolutely necessary. You can start by firing "non essential" federal employees. Who in the fuck employs someone that isn't essential?!

Congress is apparently non-essential.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

Who knew?

Who pays for those services? What goods do they produce?

 

[TakeAStepBack]

How about this Mr Pres, let's live within our means. We take in a shitload of tax money every month, plenty to pay interest payments on the debt, SS and the military...and then some. How about we cut back on all the shit that isn't absolutely necessary. You can start by firing "non essential" federal employees. Who in the fuck employs someone that isn't essential?!

Congress is apparently non-essential.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

Who knew?

No, a "genuine" industry doesn't FORCE conusmers to participate in, or pay for its goods and services. it's the exact opposite of what the rest of "industry" has to do.

 

[eflatminor]

it's about PAYING for stuff we already bought

You mean PAYGO didn't fix these kind of problems? Color me shocked...

Well, I'm afraid we'll have to return what we bought or renege on those promises to pay, since we maxed out the credit card and all. Time to stop buying stuff with the hope that more credit will be forthcoming. Since neither side is willing to stop the spending spree, we have to cut up the card.

I hope we do go into default

Not going to happen. We have PLENTY of tax revenue to make debt payments.

 

[DGS49]

The Greatest Axiom with respect to Government is this:

THE GOVERNMENT HAS NO MONEY!

That is to say, the Government cannot spend a dime unless it first either takes it out of some taxpayer's pocket, collects it in the way of a fee, or borrows it from someone. It has no money of its own.

And while I recognize that there are times when a national government can wisely spend more than it takes in, this must of necessity be a temporary measure, not a Way Of Doing Business.

And the idea that the economy will collapse if the Government doesn't continue to spend a trillion dollars a year more than it takes in is stupidity belonging in a Ripley's Believe It Or Not cartoon.

 

[eflatminor]

How about this Mr Pres, let's live within our means. We take in a shitload of tax money every month, plenty to pay interest payments on the debt, SS and the military...and then some. How about we cut back on all the shit that isn't absolutely necessary. You can start by firing "non essential" federal employees. Who in the fuck employs someone that isn't essential?!

Congress is apparently non-essential.

Nope, they are mandated by the Constitution. All the federal "non essential" employees, not so much.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

On an involuntary basis. Without competition or consumer choice. Yea, pass.

Besides, no "genuine industry" makes purchases without FIRST obtaining the necessary funds or credit to do so.

You were saying something about education...

Who knew?

Not you!

 

[Freemason9]

How about this Mr Pres, let's live within our means. We take in a shitload of tax money every month, plenty to pay interest payments on the debt, SS and the military...and then some. How about we cut back on all the shit that isn't absolutely necessary. You can start by firing "non essential" federal employees. Who in the fuck employs someone that isn't essential?!

Congress is apparently non-essential.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

Who knew?

Who pays for those services? What goods do they produce?

Really? For one thing, I suspect they process those disability checks you get every month in the mail. That stuff doesn't happen magically, you know.

 

[Freemason9]

it's about PAYING for stuff we already bought

You mean PAYGO didn't fix these kind of problems? Color me shocked...

Well, I'm afraid we'll have to return what we bought or renege on those promises to pay, since we maxed out the credit card and all. Time to stop buying stuff with the hope that more credit will be forthcoming. Since neither side is willing to stop the spending spree, we have to cut up the card.

I hope we do go into default

Not going to happen. We have PLENTY of tax revenue to make debt payments.

Oh, okay.

 

[eflatminor]

And while I recognize that there are times when a national government can wisely spend more than it takes in, this must of necessity be a temporary measure, not a Way Of Doing Business.

 

[Freemason9]

How about this Mr Pres, let's live within our means. We take in a shitload of tax money every month, plenty to pay interest payments on the debt, SS and the military...and then some. How about we cut back on all the shit that isn't absolutely necessary. You can start by firing "non essential" federal employees. Who in the fuck employs someone that isn't essential?!

Congress is apparently non-essential.

Nope, they are mandated by the Constitution. All the federal "non essential" employees, not so much.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

On an involuntary basis. Without competition or consumer choice. Yea, pass.

Besides, no "genuine industry" makes purchases without FIRST obtaining the necessary funds or credit to do so.

You were saying something about education...

Who knew?

Not you!

I take it you didn't attend any business classes in college.

 

[eflatminor]

Congress is apparently non-essential.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

Who knew?

Who pays for those services? What goods do they produce?

Really? For one thing, I suspect they process those disability checks you get every month in the mail. That stuff doesn't happen magically, you know.

Not a "good"...an entitlement. Try again?

 

[asaratis]

Obama is a pathological liar!

He wants to increase the debt ceiling...so the DEBT can be allowed to increase. The debt is increased by borrowing money TO SPEND! He wants to spend us into bankruptcy!

 

[eflatminor]

Congress is apparently non-essential.

Nope, they are mandated by the Constitution. All the federal "non essential" employees, not so much.



On an involuntary basis. Without competition or consumer choice. Yea, pass.

Besides, no "genuine industry" makes purchases without FIRST obtaining the necessary funds or credit to do so.

You were saying something about education...

Who knew?

Not you!

I take it you didn't attend any business classes in college.

Two masters degrees. Finance and Economics.

But the way you responded with such specificity, logic and reason...truly impressive retort...

Try again?

 

[NYcarbineer]

Here is where I get confused, if Obama is telling the truth we really don't need to worry about the debt ceiling because it isn't about spending money. In fact, it doesn't actually allow us to spend money.

I want to spend a little time on this. It’s something called raising the debt ceiling. And it’s got a lousy name, so a lot of people end up thinking, I don’t know, I don’t think we should raise our debt ceiling, because it sounds like we’re raising our debt. But that’s not what this is about.

It doesn’t cost taxpayers a single dime. It doesn’t grow our deficits by a single dime. It doesn’t allow anybody to spend any new money whatsoever. So it’s not something that raises our debt.

Remarks by the President on the Government Shutdown | The White House

Given this statement, not raising the debt ceiling would not mean we can't spend money. That means that either Obama is lying to us, or we are all crazy.

I would say that what he means is that the raising of the debt ceiling is designed to accommodate the debt creation caused by the current spending to revenue equation, or ratio if you will.

It is not serving to account for some new spending program that is not paid for.

 

[LordBrownTrout]

Congress is apparently non-essential.

BTW, please educate yourself regarding how the federal "debt" differs from household debt. Did you know that government is a real, genuine industry? It provides goods and services in exchange for dollars.

Who knew?

Who pays for those services? What goods do they produce?

Really? For one thing, I suspect they process those disability checks you get every month in the mail. That stuff doesn't happen magically, you know.

I don't receive disability checks and you did not answer the question.

 

[NYcarbineer]

Obama is a pathological liar!

He wants to increase the debt ceiling...so the DEBT can be allowed to increase. The debt is increased by borrowing money TO SPEND! He wants to spend us into bankruptcy!

Who on the Republican side is proposing a budget that will not require a debt ceiling increase?