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

[peach174]

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?

YES!
The reason visa raises your limit is so that you can spend more, thus putting you more into debt.
In this case, government overspends by 1.5 Trillion each year and needs the debt limit raised so that they can keep spending more than we take in, rather than cutting government.

 

[Bern80]

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.

Everyone knows that. As I said to NY, to pretend that doesn't mean you're going to actually borrow more money is being intellectually dishonest. If we didn't need to raise our debt there would be no reason to raise our debt cieling. Doing so is a cop out. It's a means to avoid having to make diffucult decisions on slashing government spending.

They are two different issues, two different subjects.

We have no choice but to pay our debt.

We do have a choice about incurring more debt.

Correct on both. The difference is you seem to think it's the first that requires raising the debt ceiling when that is not the case.

 

[Luddly Neddite]

Amen.

No matter how simply its laid out for rw's, they just cannot grasp it.

What happens when you ask your cc company for a higher credit limit and they give it to you?

You choose whether or not to spend more but that is not the same as the amount you already spent and OWE the cc company.

The debt limit is to pay for the money we already spent ON CREDIT.

 

[Redfish]

It is correct to say that raising the debt ceiling does not raise our debt. Deficit spending is what raises our debt.

The money has already been spent. It was appropriated already. At the time Congress appropriated more deficit spending, they knew at that time the spending they were approving would later push our national debt past the current ceiling.

They knew this day was coming because it was they who made this happen.

There is nothing more retarded than Congress approving a lot of spending which will go over the debt ceiling and then acting all morally outraged about having to raise the debt ceiling.

This is theater for the rubes.

So it is not the raising of the debt ceiling which increases our debt. It's the appropriations which were approved months ago.

debt ceiling = the maximum debt that the country can legally incur

debt ceiling is 17 trillion, it is raised to 20 trillion in order to pay current obligations, our debt will be 20 trillion as soon as those bills are paid.

 

[g5000]

Congressman Bob receives campaign cash from a construction company.

Congressman Bob pushes a bill to build a bridge to nowhere so the construction company gets the contract.

The bridge to nowhere funding gets approved.

Six months later, the money for the bridge to nowhere must be given to the construction company. To do this, the government has to borrow money. This borrowing pushes the federal debt above the debt ceiling.

Congressman Bob throws a public hissy fit about raising the debt ceiling.

Theater for the rubes.

Next month, Congressman Bob brags to the rubes about the jobs he brought to the district with the bridge contract.

We're being had, folks.

 

[Little-Acorn]

BTW, the National Debt STILL isn't rising, and hasn't appreciably risen since last March.

And the Federal retirement accounts and other "Trust" funds the Fed has been quietly draining every since we hit the Debt Ceiling, are just about empty now.

You can keep a lid on a volcano, for only so long.

Something unpleasant is going to happen very soon.

 

[Redfish]

No matter how simply its laid out for rw's, they just cannot grasp it.

What happens when you ask your cc company for a higher credit limit and they give it to you?

You choose whether or not to spend more but that is not the same as the amount you already spent and OWE the cc company.

The debt limit is to pay for the money we already spent ON CREDIT.

No, it is not. It is to pay for new spending. the already spent money is already spent, we are paying interest on the money already borrowed and spent.

damn, but you libs are thick headed.

 

[Luddly Neddite]

Everyone knows that. As I said to NY, to pretend that doesn't mean you're going to actually borrow more money is being intellectually dishonest. If we didn't need to raise our debt there would be no reason to raise our debt cieling. Doing so is a cop out. It's a means to avoid having to make diffucult decisions on slashing government spending.

They are two different issues, two different subjects.

We have no choice but to pay our debt.

We do have a choice about incurring more debt.

Correct on both. The difference is you seem to think it's the first that requires raising the debt ceiling when that is not the case.

Maybe this will help -

[ame=http://www.youtube.com/watch?v=KIbkoop4AYE]The Debt Limit Explained - YouTube[/ame]

 

[Redfish]

Congressman Bob receives campaign cash from a construction company.

Congressman Bob pushes a bill to build a bridge to nowhere so the construction company gets the contract.

The bridge to nowhere funding gets approved.

Six months later, the money for the bridge to nowhere must be given to the construction company. To do this, the government has to borrow money. This borrowing pushes the federal debt above the debt ceiling.

Congressman Bob throws a public hissy fit about raising the debt ceiling.

Theater for the rubes.

Next month, Congressman Bob brags to the rubes about the jobs he brought to the district with the bridge contract.

We're being had, folks.

wrong, congress cannot authorize and appropriate the money for the bridge unless it is in the current funding budget.

your example would be illegal.

 

[Luddly Neddite]

What happens when you ask your cc company for a higher credit limit and they give it to you?

You choose whether or not to spend more but that is not the same as the amount you already spent and OWE the cc company.

The debt limit is to pay for the money we already spent ON CREDIT.

No, it is not. It is to pay for new spending. the already spent money is already spent, we are paying interest on the money already borrowed and spent.

damn, but you libs are thick headed.

Okay then, how about you stop the childish name calling and post some proof?

 

[Redfish]

You choose whether or not to spend more but that is not the same as the amount you already spent and OWE the cc company.

The debt limit is to pay for the money we already spent ON CREDIT.

No, it is not. It is to pay for new spending. the already spent money is already spent, we are paying interest on the money already borrowed and spent.

damn, but you libs are thick headed.

Okay then, how about you stop the childish name calling and post some proof?

sorry, but its not my job to educate you. maybe a civics 101 and econ 101 on-line course would be appropriate for you, you obviously slept through those in high school.

 

[Luddly Neddite]

It is correct to say that raising the debt ceiling does not raise our debt. Deficit spending is what raises our debt.

The money has already been spent. It was appropriated already. At the time Congress appropriated more deficit spending, they knew at that time the spending they were approving would later push our national debt past the current ceiling.

They knew this day was coming because it was they who made this happen.

There is nothing more retarded than Congress approving a lot of spending which will go over the debt ceiling and then acting all morally outraged about having to raise the debt ceiling.

This is theater for the rubes.

So it is not the raising of the debt ceiling which increases our debt. It's the appropriations which were approved months ago.

debt ceiling = the maximum debt that the country can legally incur

debt ceiling is 17 trillion, it is raised to 20 trillion in order to pay current obligations, our debt will be 20 trillion as soon as those bills are paid.

No, not even remotely correct.

If they wanted to, congress could "legally incur" 100 times that amount.

But, they could not pay the debt they incurred unless they raised the debt ceiling to that amount.

That is correct.

 

[Luddly Neddite]

No, it is not. It is to pay for new spending. the already spent money is already spent, we are paying interest on the money already borrowed and spent.

damn, but you libs are thick headed.

Okay then, how about you stop the childish name calling and post some proof?

sorry, but its not my job to educate you. maybe a civics 101 and econ 101 on-line course would be appropriate for you, you obviously slept through those in high school.

IOW, your search proved you wrong.

 

[TakeAStepBack]

It is correct to say that raising the debt ceiling does not raise our debt. Deficit spending is what raises our debt.

The money has already been spent. It was appropriated already. At the time Congress appropriated more deficit spending, they knew at that time the spending they were approving would later push our national debt past the current ceiling.

They knew this day was coming because it was they who made this happen.

There is nothing more retarded than Congress approving a lot of spending which will go over the debt ceiling and then acting all morally outraged about having to raise the debt ceiling.

This is theater for the rubes.

So it is not the raising of the debt ceiling which increases our debt. It's the appropriations which were approved months ago.

True. Except in this instance, the treasury is now "borrowing" from pension fund allocations and other emergency measures in order to keep books loooking like they are following the "debt ceiling".

So, as soon as the ceiling is raised, they need to replenish the emergency funding stolen from other programs to make payments since they hit the ceiling in May. That means as soon as the ceiling is raised, they will incur debt for that repleishment.

Not that it really matters in a game of political semantics.

 

[g5000]

Congressman Bob receives campaign cash from a construction company.

Congressman Bob pushes a bill to build a bridge to nowhere so the construction company gets the contract.

The bridge to nowhere funding gets approved.

Six months later, the money for the bridge to nowhere must be given to the construction company. To do this, the government has to borrow money. This borrowing pushes the federal debt above the debt ceiling.

Congressman Bob throws a public hissy fit about raising the debt ceiling.

Theater for the rubes.

Next month, Congressman Bob brags to the rubes about the jobs he brought to the district with the bridge contract.

We're being had, folks.

wrong, congress cannot authorize and appropriate the money for the bridge unless it is in the current funding budget.

your example would be illegal.

It is Congress's spending which increases the debt. Congressman Bob increased the debt by funding a bridge in his district. Congressman Bob then throws a public hissy fit about the rising debt ceiling of which he is one of the causes. Congressman Bob then brags about the jobs his spending brought to the district.

Positively schizophrenic. These people are psychopaths.

It's a massive con job, all for the sake of keeping Congressman Bob employed. This is one of the many ways the House of Representatives maintains its 98 percent re-election rate, and it is all done with lots of cash. $16 trillion of debt in order to help keep 535 people in their current employment.

 

[Soggy in NOLA]

Are these dummies actually arguing that borrowing more money isn't adding to our debt?

Seriously?

 

[Luddly Neddite]

Congressman Bob receives campaign cash from a construction company.

Congressman Bob pushes a bill to build a bridge to nowhere so the construction company gets the contract.

The bridge to nowhere funding gets approved.

Six months later, the money for the bridge to nowhere must be given to the construction company. To do this, the government has to borrow money. This borrowing pushes the federal debt above the debt ceiling.

Congressman Bob throws a public hissy fit about raising the debt ceiling.

Theater for the rubes.

Next month, Congressman Bob brags to the rubes about the jobs he brought to the district with the bridge contract.

We're being had, folks.

wrong, congress cannot authorize and appropriate the money for the bridge unless it is in the current funding budget.

your example would be illegal.

The opposite is true.

I get that you're afraid to post facts but you could still look them up for your own education. And, the You Tube I posted is very simple and to the point.

 

[Steven_R]

Congressman Bob receives campaign cash from a construction company.

Congressman Bob pushes a bill to build a bridge to nowhere so the construction company gets the contract.

The bridge to nowhere funding gets approved.

Six months later, the money for the bridge to nowhere must be given to the construction company. To do this, the government has to borrow money. This borrowing pushes the federal debt above the debt ceiling.

Congressman Bob throws a public hissy fit about raising the debt ceiling.

Theater for the rubes.

Next month, Congressman Bob brags to the rubes about the jobs he brought to the district with the bridge contract.

We're being had, folks.

wrong, congress cannot authorize and appropriate the money for the bridge unless it is in the current funding budget.

your example would be illegal.

It is Congress's spending which increases the debt. Congressman Bob increased the debt by funding a bridge in his district. Congressman Bob then throws a public hissy fit about the rising debt ceiling of which he is one of the causes. Congressman Bob then brags about the jobs his spending brought to the district.

It's a massive con job, all for the sake of keeping Congressman Bob employed. This is one of the many ways how the House of Representatives maintains its 98 percent re-election rate.

That is true, very true and is a problem for both sides of the aisle. Democrats in Congress will rail against military spending, but flip out if you even mention closing a base in their district. Republicans in Congress bitch about social spending, but fight tooth and claw at the mention of cutting Medicare and Medicaid and Social Security to the blue hairs that vote.

The only way to even make a dent in the spending problem we have is for everyone to just accept that everyone's sacred cows will have to be slaughtered. Not just favored projects, but spending in districts. But nobody is willing to put their reelection on the line.

 

[Luddly Neddite]

Are these dummies actually arguing that borrowing more money isn't adding to our debt?

Seriously?

If you attended public school, you learned it in the 7th grade.

If not, you have google.

Stop depending on the libs to educate you.

 

[peach174]

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.

It's you lw's that don't get it.

It's is unfunded mandates. No money provided for fulfilling the requirements. Promises by government that has no money to pay for it.
Not money that has been spent.
The money that has been spent is our Debt at almost 17 trillion dollars.
We pay over 257.7 Billion each year to pay back on our debt.

What you are saying is that we are borrowing money in order pay back that money.
That's insane thinking.
That is like a person getting another credit card to pay off the first credit card, but you are still in debt.

Our Revenue brought in 2.7 Trillion last year.
That is enough to easily to pay back our debt.
If we change the programs on unfunded spending and get rid of many Departments that is not needed, then we could add more that 257.7 Billion each year to pay down the debt.