U.S. Is Broke, Can't Afford to Raise the Debt Ceiling

[C_Clayton_Jones]

U.S. Is Broke, Can't Afford to Raise the Debt Ceiling

Actually, the US cannot afford to not raise the debt ceiling, failing to do so, as with allowing a government shutdown, would derail the economic recovery and risk another recession.

Conservatives must understand this is above and beyond mere partisan politics.

 

[Toro]

The United States isn't broke.

It's pretty silly to say it is.

 

[petro]

Again for the idiots...the debt ceiling is for money already spent.

The debt ceiling is for money that is planned on being spent. Maybe the plans need to be changed.

certainly

i loved how the prezbo yesterday

kept referring to the debt limit

as "the budget"

when in fact we have not had a budget in five years

1361 days and counting.

 

[editec]

Back before the world's nations went off the GOLD STANDARD, there was some natural limit to the amount of debt the USA was able to issue.

If the USA issued more cash than its economy warranted, and if that money went into foreign hands, then there was a shift in ownership of gold reserves between those nations and the imbalance was corrected.

This meant that governments limited their specie in circulation

Those days are done and they are done for EVERY NATION so now ever nation can issue as much specie as it wants, or at least as it can find suckers to buy their debt instruments.

There will be a worldwide day of economic reckoning, I suspect, and it will be ugly.

thats the day when money no longer matters and guns are the only currency that works.

 

[Redfish]

You make a lot of assumptions. I'm talking about the debt ceiling here. Paying bills we already owe.

It has to be done. There shouldn't even be an argument. There is no reason to even have a debt ceiling. It's pointless.

The debt ceiling has no link to the budget or spending so is not an appropriate tool to use to try to control either.

Budgets are passed separately and if you want to cut spending, do so then. But now we have to pay for the spending that has already been approved by Congress. Congress has already agree'd to this spending. The US can and should pay it's bills.

And yes, if we default we can hurt the rate at which we borrow, therefore raising our debt even more.

This is just simple budgetary matters which I'm sure you understand.

Using the debt ceiling to control spending makes zero sense.

Budget, we don't got no budget! All we get from the Democrat Congress is continuing resolutions that continually increase our debt.

I do believe that those dam Senators did pass a budget. But the House has refused to take it (the budget proposal) up in committee to resolve differences.

WRONG, you have it backwards, the GOP controlled house has passed several budget bills, Reid has not allowed a single one to be debated or voted on in the senate. Reid and the dems are the reason we have not had a federal budget for over 5 years.

 

[Redfish]

U.S. Is Broke, Can't Afford to Raise the Debt Ceiling

Actually, the US cannot afford to not raise the debt ceiling, failing to do so, as with allowing a government shutdown, would derail the economic recovery and risk another recession.

Conservatives must understand this is above and beyond mere partisan politics.

That is a blatant lie. There is plenty of money to pay the debt and all the basic functions of government---the "full faith and credit of the USA" is not at risk if we do not raise the debt limit (i.e. allow more deficit spending).

Current expenditures cannot be made without an authorization and appropriation bill by congress, they cannot spend money that they don't have. Raising the debt limit would allow NEW deficit spending, not cover previous obligations.

Obama and the dems are LYING to you.

 

[petro]

Redfish correctly exposes Reid as the main cockblocker to any budget bill that has been sent to the Senate. We just keep printing money and eventually we will totally devalue the currency which will lead to crippling hyper-inflation. At that time we will be wiping our asses with $100 bills and burning them for heat.

 

[jon_berzerk]

Budget, we don't got no budget! All we get from the Democrat Congress is continuing resolutions that continually increase our debt.

I do believe that those dam Senators did pass a budget. But the House has refused to take it (the budget proposal) up in committee to resolve differences.

WRONG, you have it backwards, the GOP controlled house has passed several budget bills, Reid has not allowed a single one to be debated or voted on in the senate. Reid and the dems are the reason we have not had a federal budget for over 5 years.

Section 7
1: All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.

 

[C_Clayton_Jones]

The United States isn't broke.

It's pretty silly to say it is.

True.

But it makes good grist for demagogues.

 

[eagle1462010]

Peter Schiff predicted the 2008 Crash and was laughed at by all the economist of the time.

Every thing he said would happen, HAPPENED...................

And now they laugh again at the man who was right about the whole damn thing back then..............

 

[eagle1462010]

Now my point on this issue.

Do NOT INCREASE THE DEBT CEILING.........................

INSTANT BALANCED BUDGET AMENDMENT................

The Budget per month now is roughly 200 BILLION IN REVENUES.

Cost to operate the Fed and pay the Interest is around 300 BILLION A MONTH.

Leaving a Gap per month of around a 100 Billion a Month.......................

Time for a Reality check.......................

Cuts and taxes to END THE GAP. Nationwide.

It's unrealistic to cut the Fed by 33% as it is unrealistic to increase taxes by 33%.

Time for a compromise and END THIS BS.

Time to stop kicking the can down the road for our children.

SHUT IT DOWN.

 

[eagle1462010]

BTW

The Treasury has been COOKING THE BOOKS SINCE JULY to put this off.

WHY?

The Gov't solution is again for a temporary fix, INSTEAD OF A YEAR.

WHY?

 

[Redfish]

BTW

The Treasury has been COOKING THE BOOKS SINCE JULY to put this off.

WHY?

The Gov't solution is again for a temporary fix, INSTEAD OF A YEAR.

WHY?

because being reelected is more important than doing the work they were sent to DC to do. They are scared shitless that if they make the hard decisions they will lose some votes by pissing some off some of their constituents.



TERM LIMITS, TERM LIMITS, TERM LIMITS the only thing will do anything to fix the mess.

 

[JWBooth]

The United States isn't broke.

It's pretty silly to say it is.

The government or the collective net worth?

Dumb question, so long as there are printing presses there will be plenty of money on hand.

 

[Toro]

Peter Schiff predicted the 2008 Crash and was laughed at by all the economist of the time.

Every thing he said would happen, HAPPENED...................

And now they laugh again at the man who was right about the whole damn thing back then..............

You are only half right. Peter Schiff's funds were down 70% in 2008. He also said gold and silver were soar and the dollar would crash. He was spectacularly wrong on both as gold fell by 25% and silver was cut in half while the dollar went up 25%.

Like all True Believers, Schiff will probably be viewed as charlatan.

 

[Toro]

BTW

The Treasury has been COOKING THE BOOKS SINCE JULY to put this off.

WHY?

The Gov't solution is again for a temporary fix, INSTEAD OF A YEAR.

WHY?

because being reelected is more important than doing the work they were sent to DC to do. They are scared shitless that if they make the hard decisions they will lose some votes by pissing some off some of their constituents.



TERM LIMITS, TERM LIMITS, TERM LIMITS the only thing will do anything to fix the mess.

No they won't. Simplistic solutions never work.

Term limits just hand more power to the lobbyists who pray on the n00bs who have little idea what's going on.

 

[Toro]

Now my point on this issue.

Do NOT INCREASE THE DEBT CEILING.........................

INSTANT BALANCED BUDGET AMENDMENT................

The Budget per month now is roughly 200 BILLION IN REVENUES.

Cost to operate the Fed and pay the Interest is around 300 BILLION A MONTH.

Leaving a Gap per month of around a 100 Billion a Month.......................

Time for a Reality check.......................

Cuts and taxes to END THE GAP. Nationwide.

It's unrealistic to cut the Fed by 33% as it is unrealistic to increase taxes by 33%.

Time for a compromise and END THIS BS.

Time to stop kicking the can down the road for our children.

SHUT IT DOWN.

The monthly gap is now $40-$50 billion a month, not $100 billion.

 

[Redfish]

BTW

The Treasury has been COOKING THE BOOKS SINCE JULY to put this off.

WHY?

The Gov't solution is again for a temporary fix, INSTEAD OF A YEAR.

WHY?

because being reelected is more important than doing the work they were sent to DC to do. They are scared shitless that if they make the hard decisions they will lose some votes by pissing some off some of their constituents.



TERM LIMITS, TERM LIMITS, TERM LIMITS the only thing will do anything to fix the mess.

No they won't. Simplistic solutions never work.

Term limits just hand more power to the lobbyists who pray on the n00bs who have little idea what's going on.

I would also ban lobbying (bribery of congressmen). Serving in congress should not be a lifetime career, it should be a short term sacrifice for your country. It should not be a way to become a millionaire as it is today.

 

[Toro]

because being reelected is more important than doing the work they were sent to DC to do. They are scared shitless that if they make the hard decisions they will lose some votes by pissing some off some of their constituents.



TERM LIMITS, TERM LIMITS, TERM LIMITS the only thing will do anything to fix the mess.

No they won't. Simplistic solutions never work.

Term limits just hand more power to the lobbyists who pray on the n00bs who have little idea what's going on.

I would also ban lobbying (bribery of congressmen). Serving in congress should not be a lifetime career, it should be a short term sacrifice for your country. It should not be a way to become a millionaire as it is today.

I agree with you ideally but I think it's incredibly naive.

Also, banning lobbying would almost certainly be struck down under the First Amendment.

 

[Greenbeard]

because being reelected is more important than doing the work they were sent to DC to do. They are scared shitless that if they make the hard decisions they will lose some votes by pissing some off some of their constituents.

TERM LIMITS, TERM LIMITS, TERM LIMITS the only thing will do anything to fix the mess.

While I won't challenge your (somewhat odd) belief that everyone is pure and noble when they're guaranteed to need a job in a year or two and temporarily have the power to endear themselves to folks with the influence to secure quite comfortable accommodations for them when that day comes, I have to ask: can you think of no downsides to stripping elected officials of any accountability to the constituents they serve?