Would you raise the interest rate on your own mortgage or credit card?

[itfitzme]

Sure they do, but that doesn't mean it's the best way to proceed.

Why not, it's US dollars that we used to buy Chinese products?

Are you saying that the free market consumer shouldn't buy goods from where they want to?

Are you saying that we shouldn't recirculate US dollars back into the US economy?

What do you think your really talking about?

Or have you just not actually bothered to learn how the funds flow and what it means?

actually...the fact that you actually think it is all "China" pretty much shows me how little you know.

Truth is....you obviously have no idea about what the debt is all about...the debt limit....and how we borrow.

FYI....China is a very small portion of it.....not even worthy of discussion.

I didn't say it was all China. China is a good chunk. The point doesn't change either way as it still begs the question of what you think should be done with all those funds. So point out where all tue borrowed funds come from and why it is such a catastophy?

 

[ba1614]

Instead the Bank of China opens its' doors wide and asks its' best customer how much more credit do you want?

Sure they do, but that doesn't mean it's the best way to proceed.

Why not, it's US dollars that we used to buy Chinese products?

Are you saying that the free market consumer shouldn't buy goods from where they want to?

Are you saying that we shouldn't recirculate US dollars back into the US economy?

What do you think your really talking about?

Or have you just not actually bothered to learn how the funds flow and what it means?

I understand how funds flow just fine, and if you sooner or later don't stop taking on debt you won't have any funds to flow anywhere.

 

[bendog]

The Obamacare distraction is annoying. If Obamacare's as bad as they say, it'll be a great gop issue in 14 and 16, but the TPM are horrified to think Americans might actually LIKE taxsubsidies to buy healthcare..... HORROR. LOL

If it weren't for the gop's apparent desire for hari kari, we'd have the dems bent over the barrell. Re-index soc sec colas. Up the retirment age. Cut defense expenditure overseas by 25% in Obama's last two years. Additionall, across the board cuts of 2% for each of those years, to every agency, unless Obama certifies a necessity and identifies where dollar for dollar cuts come from. Keystone -fast track. Green House Gases - nyet. Charter schools - yes.

 

[Vox]

Screw all of you. My mortage is payed off. Been payed off.

now you will be required to pay mortgages of others

 

[itfitzme]

Sure they do, but that doesn't mean it's the best way to proceed.

Why not, it's US dollars that we used to buy Chinese products?

Are you saying that the free market consumer shouldn't buy goods from where they want to?

Are you saying that we shouldn't recirculate US dollars back into the US economy?

What do you think your really talking about?

Or have you just not actually bothered to learn how the funds flow and what it means?

actually...the fact that you actually think it is all "China" pretty much shows me how little you know.

Truth is....you obviously have no idea about what the debt is all about...the debt limit....and how we borrow.

FYI....China is a very small portion of it.....not even worthy of discussion.

Truth is that all you have is running about, waving your hands in the air, saying, "it's bad. It's bad". Then you have a stupid analogy of a household budget that proves nothing. An analogy never proves anything.

By all means, chicken little, do tell what the mechanosm is for this catastrophy? I've been looking for someone to present it for years.

 

[itfitzme]

Screw all of you. My mortage is payed off. Been payed off.

now you will be required to pay mortgages of others

Good for you.

 

[Vox]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

The fallacy in your argument is that you're ignoring spending. If your wife is blowing out the limit on your card, you may not want to increase the limit because her uncontrolled spending is a bigger issue then the interest. The Democratic Party is your wife.

 

[Vox]

Define "we".

the taxpayers, duh

Where does the Constitution give taxpayers the right to set the debt ceiling?

where it does give them the responsibility to pay taxes

 

[Vox]

Screw all of you. My mortage is payed off. Been payed off.

now you will be required to pay mortgages of others

Good for you.

I might be the "others"

 

[itfitzme]

Would you consider one that is living well above ones means and continually saying to himself "I will just borrow another 1000 and then I will stop"....a schmuck?

I would.

And that's what we are.

A bunch of schmucks.

The US government has the necessary authority to increase its' "means" at any time that it deems appropriate. Failure to do so is what is making a "bunch of schmucks" out of the taxpayers.

and an individual has the authority to increase his means at any time it deems appropriate.

Usually, those people fail in life.

" an individual has the authority " is true for an individual.

The US govt isn't an individual. And the US economy isn't either. Last count it was like 160 million to 300 mill depending on who we count.

That is like EVERYBODY, not an individual. In fact, it is the complete opposite of an individual.

This is why the analogy fails to be relevant

 

[itfitzme]

now you will be required to pay mortgages of others

Good for you.

I might be the "others"

Actually, no you won't. General tax levels have no effect on your consumption level. It is just extra accounting riding along. What matters is employment and productivity.

 

[itfitzme]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

The fallacy in your argument is that you're ignoring spending. If your wife is blowing out the limit on your card, you may not want to increase the limit because her uncontrolled spending is a bigger issue then the interest. The Democratic Party is your wife.

The fallacy is that your analogy is bullshit. Unless, by your wife, you mean that you've been fing her in he assets for years, yeah


The reality is that the household analogy is bullshit and even so, analogies don't prove anything.

 

[LordBrownTrout]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

By this logic, we could raise the debt ceiling to 900 trillion and not have to pay high interest rates for years. Would that be a responsible and accountable thing to do?

 

[Zoom-boing]

Instead of raising the debt ceiling yet again, why don't they take that money out of spending in order to pay the bill? You know, real, true spending cuts?

 

[itfitzme]

I really don't see how some folks are ever gonna get it except staight up. The household analogy is pure bullshit. If you hang onto that bs, you'll never understand how macro econ and govt works.

 

[Derideo_Te]

the taxpayers, duh

Where does the Constitution give taxpayers the right to set the debt ceiling?

where it does give them the responsibility to pay taxes

Seriously? You don't know this?

16th Amendment

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

 

[OriginalShroom]

Remember when the debt ceiling, at $7 trillion, was unpatriotic and a sign of a piss poor President?

 

[itfitzme]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

By this logic, we could raise the debt ceiling to 900 trillion and not have to pay high interest rates for years. Would that be a responsible and accountable thing to do?

No, you are creating bs logic with no reality of the govt and economy first appropriately defined. It doesn't follow, given how the govt and economy works.

 

[kaz]

I really don't see how some folks are ever gonna get it except staight up. The household analogy is pure bullshit. If you hang onto that bs, you'll never understand how macro econ and govt works.

Perfect analogy. I wouldn't raise my wife (in my scenario) or the Democratic Party's credit limit. You realize BTW that not raising the debt ceiling doesn't mean Democrats can't spend the revenue coming in, right? Democrats just can't spend more than the revenue coming in. That's why it's actually a great idea.

 

[Derideo_Te]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

The fallacy in your argument is that you're ignoring spending. If your wife is blowing out the limit on your card, you may not want to increase the limit because her uncontrolled spending is a bigger issue then the interest. The Democratic Party is your wife.

Next time try sticking to the OP instead of deflecting.