Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 1

[Lovebears65]

Raising the debt ceiling is not a spending program, therefore it cannot itself add to the debt.

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

So you dont think Obama is not going to spend that increase. Wow you cant be that dumb . It might rise the debt right away but it WILL END UP RAISING THE DEBT because OBAMA will use that increase for something . Probably more golf games or vacations for himself

 

[TakeAStepBack]

It will increase the debt immediately.

 

[Redfish]

Raising the debt ceiling is not a spending program, therefore it cannot itself add to the debt.

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

do you ask for a higher limit if you don't plan to spend it?

I cannot believe the financial ignorance displayed on this thread by those who have nothing but blind love for the kenyan messiah.

 

[Lovebears65]

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

do you ask for a higher limit if you don't plan to spend it?

I cannot believe the financial ignorance displayed on this thread by those who have nothing but blind love for the kenyan messiah.

Obama counts on people like this.. These kind of people believe his lies and that is why he got voted not once but twice on LIES

 

[Wacky Quacky]

While Obama is correct, he's heavily splitting hairs and it's an incredibly shallow and laughable correctness. No, the act of raising the debt ceiling will not raise the debt. But, it's a forgone conclusion that increasing the debt will follow shortly after.

Jumping out of a plane without a parachute won't kill me, but hitting the ground will.

 

[NYcarbineer]

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

do you ask for a higher limit if you don't plan to spend it?

I cannot believe the financial ignorance displayed on this thread by those who have nothing but blind love for the kenyan messiah.

The 'plan' to spend is already in place and dates back decades in some cases. Congress controls the pursestrings, as the inmates here never hesitate to remind us...

...it's their spending. If the Republican controlled Congress thinks we can stop borrowing even 1 more dollar after the debt ceiling is reached,

let them show us the plan that will cut 1/3 of all government spending overnight.

Show us that plan. Or shut up and quit making fools of yourself.

 

[NYcarbineer]

It will increase the debt immediately.

Semantics.

The alternative is that 1/3rd of all government spending has to stop immediately, because that is how much of the spending is being borrowed.

Show us the cuts. Show us how do it at all first, then show us how to do it without bringing chaos down on the country if not the world.

 

[NYcarbineer]

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

VISA will not increase your debt limit when you're knee deep in debt.

You're more proof that liberals are stupid.

Then show us the 1 trillion in cuts you would make to end borrowing.

 

[LordBrownTrout]

Raising the debt ceiling is not a spending program, therefore it cannot itself add to the debt.

Then we shouldn't need to raise it based on your theory.

 

[Katzndogz]

Start with these 50.

1.The federal government made at least $72 billion in improper payments in 2008.[1]
2.Washington spends $92 billion on corporate welfare (excluding TARP) versus $71 billion on homeland security.[2]
3.Washington spends $25 billion annually maintaining unused or vacant federal properties.[3]
4.Government auditors spent the past five years examining all federal programs and found that 22 percent of them -- costing taxpayers a total of $123 billion annually -- fail to show any positive impact on the populations they serve.[4]
5.The Congressional Budget Office published a "Budget Options" series identifying more than $100 billion in potential spending cuts.[5]
6.Examples from multiple Government Accountability Office (GAO) reports of wasteful duplication include 342 economic development programs; 130 programs serving the disabled; 130 programs serving at-risk youth; 90 early childhood development programs; 75 programs funding international education, cultural, and training exchange activities; and 72 safe water programs.[6]
7.Washington will spend $2.6 million training Chinese prostitutes to drink more responsibly on the job.[7]
8.A GAO audit classified nearly half of all purchases on government credit cards as improper, fraudulent, or embezzled. Examples of taxpayer-funded purchases include gambling, mortgage payments, liquor, lingerie, iPods, Xboxes, jewelry, Internet dating services, and Hawaiian vacations. In one extraordinary example, the Postal Service spent $13,500 on one dinner at a Ruth's Chris Steakhouse, including "over 200 appetizers and over $3,000 of alcohol, including more than 40 bottles of wine costing more than $50 each and brand-name liquor such as Courvoisier, Belvedere and Johnny Walker Gold." The 81 guests consumed an average of $167 worth of food and drink apiece.[8]
9.Federal agencies are delinquent on nearly 20 percent of employee travel charge cards, costing taxpayers hundreds of millions of dollars annually.[9]
10.The Securities and Exchange Commission spent $3.9 million rearranging desks and offices at its Washington, D.C., headquarters.[10]
11.The Pentagon recently spent $998,798 shipping two 19-cent washers from South Carolina to Texas and $293,451 sending an 89-cent washer from South Carolina to Florida.[11]
12.Over half of all farm subsidies go to commercial farms, which report average household incomes of $200,000.[12]
13.Health care fraud is estimated to cost taxpayers more than $60 billion annually.[13]
14.A GAO audit found that 95 Pentagon weapons systems suffered from a combined $295 billion in cost overruns.[14]
15.The refusal of many federal employees to fly coach costs taxpayers $146 million annually in flight upgrades.[15]
16.Washington will spend $126 million in 2009 to enhance the Kennedy family legacy in Massachusetts. Additionally, Senator John Kerry (D-MA) diverted $20 million from the 2010 defense budget to subsidize a new Edward M. Kennedy Institute.[16]
17.Federal investigators have launched more than 20 criminal fraud investigations related to the TARP financial bailout.[17]
18.Despite trillion-dollar deficits, last year's 10,160 earmarks included $200,000 for a tattoo removal program in Mission Hills, California; $190,000 for the Buffalo Bill Historical Center in Cody, Wyoming; and $75,000 for the Totally Teen Zone in Albany, Georgia.[18]
19.The federal government owns more than 50,000 vacant homes.[19]
20.The Federal Communications Commission spent $350,000 to sponsor NASCAR driver David Gilliland.[20]
21.Members of Congress have spent hundreds of thousands of taxpayer dollars supplying their offices with popcorn machines, plasma televisions, DVD equipment, ionic air fresheners, camcorders, and signature machines -- plus $24,730 leasing a Lexus, $1,434 on a digital camera, and $84,000 on personalized calendars.[21]
22.More than $13 billion in Iraq aid has been classified as wasted or stolen. Another $7.8 billion cannot be accounted for.[22]
23.Fraud related to Hurricane Katrina spending is estimated to top $2 billion. In addition, debit cards provided to hurricane victims were used to pay for Caribbean vacations, NFL tickets, Dom Perignon champagne, "Girls Gone Wild" videos, and at least one sex change operation.[23]
24.Auditors discovered that 900,000 of the 2.5 million recipients of emergency Katrina assistance provided false names, addresses, or Social Security numbers or submitted multiple applications.[24]
25.Congress recently gave Alaska Airlines $500,000 to paint a Chinook salmon on a Boeing 737.[25]
26.The Transportation Department will subsidize up to $2,000 per flight for direct flights between Washington, D.C., and the small hometown of Congressman Hal Rogers (R-KY) -- but only on Monday mornings and Friday evenings, when lawmakers, staff, and lobbyists usually fly. Rogers is a member of the Appropriations Committee, which writes the Transportation Department's budget.[26]
27.Washington has spent $3 billion re-sanding beaches -- even as this new sand washes back into the ocean.[27]
28.A Department of Agriculture report concedes that much of the $2.5 billion in "stimulus" funding for broadband Internet will be wasted.[28]
29.The Defense Department wasted $100 million on unused flight tickets and never bothered to collect refunds even though the tickets were refundable.[29]
30.Washington spends $60,000 per hour shooting Air Force One photo-ops in front of national landmarks.[30]
31.Over one recent 18-month period, Air Force and Navy personnel used government-funded credit cards to charge at least $102,400 on admission to entertainment events, $48,250 on gambling, $69,300 on cruises, and $73,950 on exotic dance clubs and prostitutes.[31]
32.Members of Congress are set to pay themselves $90 million to increase their franked mailings for the 2010 election year.[32]
33.Congress has ignored efficiency recommendations from the Department of Health and Human Services that would save $9 billion annually.[33]
34.Taxpayers are funding paintings of high-ranking government officials at a cost of up to $50,000 apiece.[34]
35.The state of Washington sent $1 food stamp checks to 250,000 households in order to raise state caseload figures and trigger $43 million in additional federal funds.[35]
36.Suburban families are receiving large farm subsidies for the grass in their backyards -- subsidies that many of these families never requested and do not want. [36]
37.Congress appropriated $20 million for "commemoration of success" celebrations related to Iraq and Afghanistan.[37]
38.Homeland Security employee purchases include 63-inch plasma TVs, iPods, and $230 for a beer brewing kit.[38]
39.Two drafting errors in the 2005 Deficit Reduction Act resulted in a $2 billion taxpayer cost.[39]
40.North Ridgeville, Ohio, received $800,000 in "stimulus" funds for a project that its mayor described as "a long way from the top priority."[40]
41.The National Institutes of Health spends $1.3 million per month to rent a lab that it cannot use.[41]
42.Congress recently spent $2.4 billion on 10 new jets that the Pentagon insists it does not need and will not use.[42]
43.Lawmakers diverted $13 million from Hurricane Katrina relief spending to build a museum celebrating the Army Corps of Engineers -- the agency partially responsible for the failed levees that flooded New Orleans.[43]
44. Medicare officials recently mailed $50 million in erroneous refunds to 230,000 Medicare recipients.[44]
45.Audits showed $34 billion worth of Department of Homeland Security contracts contained significant waste, fraud, and abuse.[45]
46.Washington recently spent $1.8 million to help build a private golf course in Atlanta, Georgia.[46]
47.The Advanced Technology Program spends $150 million annually subsidizing private businesses; 40 percent of this funding goes to Fortune 500 companies.[47]
48.Congressional investigators were able to receive $55,000 in federal student loan funding for a fictional college they created to test the Department of Education.[48]
49.The Conservation Reserve program pays farmers $2 billion annually not to farm their land.[49]
50.The Commerce Department has lost 1,137 computers since 2001, many containing Americans' personal data.[50]

 

[Lonestar_logic]

The Republicans who do not want to increase the debt ceiling should come out with a plan,

in detail,

as to how they want the budget immediately modified to be able to avoid borrowing another dollar.

Show us where the cuts would be. In detail.

It's the least they could do if they want to be taken seriously.

They did. It's called defunding Obamacare.

Is the ACA costing one trillion a year in federal government spending?

Actually more than that according to the CBO.


CBO: ObamaCare Price Tag Shifts from $940 Billion to $1.76 Trillion

 

[Bern80]

Raising the debt ceiling is not a spending program, therefore it cannot itself add to the debt.

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

No, but let's not be purposfully obtuse and intellectually dishonest, okay? The reason, in both cases, one tends to ask for a higher credit limit is because they intend to borrow more then their current limit.

 

[Steven_R]

That can't be right. Obamacare wasn't supposed to cost the taxpayers anything. Obamacare was supposed to safe us money.

 

[Wacky Quacky]

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

VISA will not increase your debt limit when you're knee deep in debt.

You're more proof that liberals are stupid.

Then show us the 1 trillion in cuts you would make to end borrowing.

Pft, easy.

Shut down every foreign military base.
Return defense spending back to pre-Iraq war levels.
Shut down the Department of Homeland Security.
Eliminate every tax deduction/loophole/exemption.
Slash the IRS in half

I could on, but that might cover it right there.

 

[Luddly Neddite]

Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 1
WTF??

What a genius

-Geaux

Why do rw's believe that raising the debt ceiling increases the debt?

We've been here before but apparently, the rw's can't remember what they learned the last time.

The money has already been spent.

Raising the debt ceiling is our legal agreement to pay the debt that (ALL of congress) already borrowed.

Using the Visa analogy above ... When you applied for the Visa card, you did not incur debt but you did legally agree to pay any debt you incurred using the Visa card.

 

[Katzndogz]

We have to cut spending. When the average person has maxed out their credit cards, the way to fiscal responsibility does not include getting a new credit card.

 

[Soggy in NOLA]

Raising the debt ceiling is not a spending program, therefore it cannot itself add to the debt.

Yes, borrowing more money definitely doesn't increase debt.



OMG....

 

[Wacky Quacky]

They did. It's called defunding Obamacare.

Is the ACA costing one trillion a year in federal government spending?

Actually more than that according to the CBO.


CBO: ObamaCare Price Tag Shifts from $940 Billion to $1.76 Trillion

Now go back, read your own link, and try not to make stupid mistakes like this again.

 

[Luddly Neddite]

if they aren't going to spend it why do they need to borrow it? Of course raises the debt, thats why its call "increasing the DEBT ceiling"

you cannot possibly be as ignorant as you seem

The debt ceiling is like the borrowing limit on your credit card. If VISA raises your limit, did VISA increase your debt?

So you dont think Obama is not going to spend that increase. Wow you cant be that dumb . It might rise the debt right away but it WILL END UP RAISING THE DEBT because OBAMA will use that increase for something . Probably more golf games or vacations for himself

Obama does not spend there is no increase to be spent. The increase has already been spent. Congress incurs the debt and the debt limit is our agreement to pay the already owed debt.

 

[Soggy in NOLA]

Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 1
WTF??

What a genius

-Geaux

Why do rw's believe that raising the debt ceiling increases the debt?

We've been here before but apparently, the rw's can't remember what they learned the last time.

The money has already been spent.

Raising the debt ceiling is our legal agreement to pay the debt that (ALL of congress) already borrowed.

Using the Visa analogy above ... When you applied for the Visa card, you did not incur debt but you did legally agree to pay any debt you incurred using the Visa card.

How utterly, colossally stupid...