Why can't we ABIDE BY the debt ceiling instead of always raising it?

[ShootSpeeders]

The idiot RINO Boehner is again trying to help obozo by raising the debt ceiling. Hell - the point of the ceiling is to control govt spending so he should be demanding obozo cut back on spending.

John Boehner: 'Increase the Debt Ceiling'

5 Feb 2014, 9:05 AM

With just two days before America hits the debt ceiling deadline, Speaker John Boehner (R-OH) announced on Tuesday his desire to raise it.
"The goal here is to increase the debt ceiling," said Boehner. "Nobody wants to default on our debt."
Treasury Secretary Jack Lew says the nation will hit its debt limit this Friday, February 7th.
"While we're doing this we ought to do something about the jobs and the economy," said Boehner.
Boehner said Republicans have discussed several options for receiving concessions for a debt limit increase but that "no decisions have been made."

 

[ShootSpeeders]

This makes as much sense as a bank robber saying. "Ok - i broke the law so lets change the law so i'm not guilty."

 

[Indeependent]

"Raising the Debt Ceiling" is merely the name of a formality to pay for products/services already rendered.

 

[ShootSpeeders]

"Raising the Debt Ceiling" is merely the name of a formality to pay for products/services already rendered.

The govt would not have rendered those services if they knew they were bound by the debt ceiling. THINK!!!!

 

[bendog]

I think you guys should shut her down again.

 

[Indeependent]

"Raising the Debt Ceiling" is merely the name of a formality to pay for products/services already rendered.

The govt would not have rendered those services if they knew they were bound by the debt ceiling. THINK!!!!

I agree.
We should stop spending on our military to build and support infrastructure in other countries.
We also need to eliminate corporate subsidies as well as automate many municipal, state and federal functions as they all get our federal tax dollars.

Do you agree?

 

[Clementine]

I don't know why they even have a debt ceiling since it never comes into play when they make decisions to spend money. And much of the time, money is spent on things that are not necessary and they really have no business doing what they do. The pork loaded into virtually every bill ensures waste. Other states always end up paying for things like new parks or other things that could wait.

Each senator likes to "bring home the bacon" to their states, courtesy of the nation's tax payers. It's one thing when there is dire need, quite another when it's just a perk that people could live without.

Despite Pelosi's claim that the cupboard is bare and there are no room for cuts, it's not difficult to do a little research and find fraud, waste and abuse in every government agency.

Just look at how budgets are created for depts. They are given so much money and if they don't use all of it, they won't get as much the next year. At the end of the year, they get creative in finding ways to spend it. This system is totally backwards. Instead of just calculating expenses and getting money to cover their needs, they get a set amount and ensure that there is always extra to blow at the end of the year. It just ensures that they'll have more to blow the next year.

Obama claimed that raising the debt ceiling was a sign of failed leadership. All the Dems backed him up on that. Now they changed their tune because it's their party spending like fools.

Of course, this administration has been selective about all the rules that are in place. Raising the debt ceiling, failing to produce a budget (a legal duty), using the nuclear option and choosing which laws it will or won't follow. Nice that we are told Obamacare is the law, so suck it up, yet Obama allows others to ignore all or part of it with a wave of his royal hand. How nice it would be for the king to treat us all the same as he and his elites and allow us to be exempt if we wish. l

Laws and rules are treated like mere suggestions and they opt out when it doesn't fit their plan.

As far as corporate welfare, check the latest bills passed by Dems. They are worse than the right when it comes to that. Boehner is clearly a RINO with no convictions.

 

[LoneLaugher]

You'd think that after going over this a half dozen times in the past 4 years, nutters would have a better grasp on what the debt ceiling is.

Concern trolls...........keep on diggin', bitches.

 

[Big Black Dog]

Why can't we ABIDE BY the debt ceiling instead of always raising it?

Because Democrats are an unhappy lot when they can't spend money we don't have.

 

[bendog]

Q. This sounds like an odd system. Do you mean that Congress can pass a budget that requires borrowing, and then argue later about whether to approve that borrowing?

A. That’s right. The system goes back to World War I, when Congress first put a limit on federal debt. The limit was part of a law that allowed the Treasury to issue Liberty Bonds to help pay for the war. The law was intended to give the Treasury greater discretion over borrowing by eliminating the need for Congress to approve each new issuance of debt. Over the years the limit has been raised repeatedly, to $14.3 trillion today from roughly $43 billion in 1940. Of the $14.3 trillion, $4.6 trillion is held by other government accounts, like Social Security trust funds. Outside observers have noted that the failure to make increases in the debt limit part of the regular budget process can be risky. The G.A.O. concluded that it would be better if “decisions about the debt level occur in conjunction with spending and revenue decisions as opposed to the after-the-fact approach now used,” adding that doing so “would help avoid the uncertainty and disruptions that occur during debates on the debt limit today.”

Why both parties think the CBO just proved them right on ObamaCare - The Week

Of course asking the gop and dems to act like adults would be akin to thinking Lucy and Ethel could perform a simple task without low brow comedy.

 

[hazlnut]

The idiot RINO Boehner is again trying to help obozo by raising the debt ceiling. Hell - the point of the ceiling is to control govt spending so he should be demanding obozo cut back on spending.

John Boehner: 'Increase the Debt Ceiling'

5 Feb 2014, 9:05 AM

With just two days before America hits the debt ceiling deadline, Speaker John Boehner (R-OH) announced on Tuesday his desire to raise it.
"The goal here is to increase the debt ceiling," said Boehner. "Nobody wants to default on our debt."
Treasury Secretary Jack Lew says the nation will hit its debt limit this Friday, February 7th.
"While we're doing this we ought to do something about the jobs and the economy," said Boehner.
Boehner said Republicans have discussed several options for receiving concessions for a debt limit increase but that "no decisions have been made."

Like many a Tea Party / Fox Newser -- you are confused about what the debt ceiling is.

 

[freedombecki]

I can't abide being in debt 17 trillion dollars.

 

[Little-Acorn]

Obeying the debt ceiling

means no more borrowing when we hit it

which means, instant balanced budget!

For the first time since the 1950s.

 

[bendog]

Why can't we ABIDE BY the debt ceiling instead of always raising it?

Because Democrats are an unhappy lot when they can't spend money we don't have.

It has been a bipartisan exercise. By the Treasury Department’s count, Congress has acted 78 times since 1960 to raise, extend or alter the definition of the debt limit — 49 times under Republican presidents, and 29 times under Democratic presidents. The Obama administration has taken pains to note that President Ronald Reagan, a hero to many Republicans in Congress, raised the debt limit. In a letter on the debt ceiling last month to Republicans in the Senate, Treasury Secretary Timothy F. Geithner quoted a letter Mr. Reagan wrote a generation ago, urging Congress to increase the debt limit. “The full consequences of a default — or even the serious prospect of default — by the United States are impossible to predict and awesome to contemplate,” he quoted Mr. Reagan as writing. “Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result.”

Q. How has the debt risen this high, and how much are we paying in interest as a nation?

A. The United States has not always operated with such a large debt. After financing World War II with substantial borrowing, the outstanding debt held pretty stable for the next 25 years, going up to $283 billion in 1970 from $242 billion in 1946. But over the last 30 years, the overall debt has increased under every president — with the biggest increase under President George W. Bush, who cut taxes, added a drug benefit to Medicare and fought two wars. As the debt has grown, so have the country’s interest payments. In 2003, for instance, the government paid about $150 billion in interest costs; this year it is estimated to be upward of $200 billion. These interest payments are taking up more federal spending now than federal outlays on education, transportation and housing and urban development combined.

 

[kwc57]

The idiot RINO Boehner is again trying to help obozo by raising the debt ceiling. Hell - the point of the ceiling is to control govt spending so he should be demanding obozo cut back on spending.

John Boehner: 'Increase the Debt Ceiling'

5 Feb 2014, 9:05 AM

With just two days before America hits the debt ceiling deadline, Speaker John Boehner (R-OH) announced on Tuesday his desire to raise it.
"The goal here is to increase the debt ceiling," said Boehner. "Nobody wants to default on our debt."
Treasury Secretary Jack Lew says the nation will hit its debt limit this Friday, February 7th.
"While we're doing this we ought to do something about the jobs and the economy," said Boehner.
Boehner said Republicans have discussed several options for receiving concessions for a debt limit increase but that "no decisions have been made."

You should hope and change to lean forward into progress comrade.

 

[Dont Taz Me Bro]

Because the American people have no interest in living within our means

 

[NYcarbineer]

The idiot RINO Boehner is again trying to help obozo by raising the debt ceiling. Hell - the point of the ceiling is to control govt spending so he should be demanding obozo cut back on spending.

John Boehner: 'Increase the Debt Ceiling'

5 Feb 2014, 9:05 AM

With just two days before America hits the debt ceiling deadline, Speaker John Boehner (R-OH) announced on Tuesday his desire to raise it.
"The goal here is to increase the debt ceiling," said Boehner. "Nobody wants to default on our debt."
Treasury Secretary Jack Lew says the nation will hit its debt limit this Friday, February 7th.
"While we're doing this we ought to do something about the jobs and the economy," said Boehner.
Boehner said Republicans have discussed several options for receiving concessions for a debt limit increase but that "no decisions have been made."

It would take a trillion dollar cut in spending to keep the budget under the debt ceiling.

 

[bendog]

And a budget under the debt ceiling is a slogan with no rational meaning


We believe export growth will generally outpace import growth over the medium term, and expect broad stability in the financial account. Data continue to support our view that stronger revenues and an abrupt slowdown in spending will help to narrow the US fiscal shortfall in 2013 to 3.7% of GDP from 6.7% of GDP in 2012, a trend that we forecast will continue in the years ahead. As a result, we also forecast that the ratio of debt to GDP will stabilise and hold steady around 70% over the next few years.

Read more here: United States Business Forecast Report Q1 2014 - PR Newswire - The Sacramento Bee

And the gop's basic problem remains "we cannot trust the people to do the right thing." Rotsa ruck on rat.

 

[Dont Taz Me Bro]

It would take a trillion dollar cut in spending to keep the budget under the debt ceiling.

Or a massive increase in taxes, for which there is no political will to do either.

 

[bendog]

Why is either needed? We've reduced the growth in spending so the debt/gnp ratio INCREASE has been stemmed. We have a looming problem in restraining increases in medicare spending increases, and a lesser problem with soc sec. But, I don't see the evidence that Americans are somehow incapable of understanding and seeking solutions to problem.

Rather, I think our problem is out two party system has broken. We have on party that favors solving problems by placing more power with the fed govt. We have another party that for 8 years pursued a similar strategy, and now has an inablity to formulate policies to achieve anything. It seems to me that the tea party fever is breaking, but it is unclear where the gop will go from here.

And that's not just a woe is me thing. I think the gop lost an opportunity when McCain didn't choose Lieberman. They prolly still would've lost, but they wouldn't have become the party of NO. No party can govern if they view society as takers and givers.