The patriotic Republicans are just itching for the chance to damage the full faith and credit of the United States. -The same ones who raised the debt limit 17 times during the Bush administration.-These are also the same Republicans who voted for the Iraq invasion, the Bush tax cuts (both), the Bush stimulus, Medicare part D, agriculture price supports for ADM and the other family farms, all kinds of secret earmarks, and tons of weapons the pentagon didn’t even want. -But, they really, really, really, really, really, want to cut spending. Really.
If any of the posters on this page every think the present 17,000,000,000,000 of debt will be paid they are either stupid or mere fools.
Also, the debt is increasing a lot faster than GDP. We crossed that dangerous line years past.
Most of the posters on this board have not had a finance class much less know the problems of fiat currency. Fine, so be it. But raising the credit ceiling higher does not take care of two problems:
1. the present monitization of the debt.2. no growth in the GDP
Yes, America does deserve to lose its “credit card”. When a government spends $1.75 dollars for every dollar of revenue then that generation does not deserve any credit.
Raising the debt ceiling is a matter of honorably agreeing to pay the debts we’ve already incurred (with both parties at fault over the decades). Not paying them can’t possibly be described as “conservative.”
Remember, everyone. You have the best Congress MONEY can buy. Remember, too, that only a fraction of you VOTED in the LAST ELECTION! Now. If YOU really want change: Get your neighbor and yourself to the Voter Booth next election. Who are your neighbors? Everyone else but you.
Well stated. It is disheartening that, although the least-capable, least-well-educated adult must learn quickly that you can’t spend more than you make without ending up in trouble, our educated and privileged members of Congress seem as though they haven’t ever learned Econ 101. Pitiful.
And it’s our fault for returning them to Congress. We can communicate with our “representatives” all we want; many of them are unwilling to waste their time paying attention. Our recourse is the voting booth. I can only hope we voters will throw the bums out as soon as we can.
Thanks for your summary of economic truth, and your evaluation of the perpetrators of our current troubles.
…but the uneducated, line-in-the-sand, binary creatures that comprise (unfortunately) an overwhelming percentage of society believes in the monetary-market dichotomy as the be-all-to-end-all solution! Just throw money at the problem, or more money at the problem. If that doesn’t work, throw money at the people to ignore the problem.
Debt ceilings are redundant, you don’t need them, they serve no purpose other than to embarrass the incumbent government and to create economic uncertainty. National debt is a function of a combination of too high spending and too low revenue (taxation). Bring those two factors into balance and you have debt equilibrium, economic stability, and growth commensurate with the nation’s resources. .But what actually happens? Governments and congressmen like to provide stuff to the electorate, “bring home the bacon,” extend the empire, and polish their legacy. They also like to self-righteously lower taxes and will rationalize all sorts of reasons for doing so. But what they are really doing is ignoring reality and basic math. It is why nations fall into difficulty and why nations fail if corrections are not made.
Debt ceiling is pure window dressing. If you or I raised ourdebt ceiling [an oxy-moron if there ever was one] so we couldcontinue to spend with NO intention of repayment, we’d findourselves in the bankruptcy andd/or criminal courts so fast it’dmaake our heads spin. Unfortunately we can’t do that to theCongress.
Let’s start getting our costs under control by eliminating what the Tea Party and GOP love such as forcing American taxpayers to do the following: Close down public schools in favor of vouchers to private religious schools (aka Christian indoctrination machines), subsidize arms manufacturers by starting wars with lies (Another Iraq anyone?), ignore essential maintenance costs such as America’s infrastructure (Who needs safe bridges if YOU don’t drive across them?), cut food stamps and force children to go hungry because their parents’ jobs were shipped to Chinese slave laborers, eliminate regulations on Wall Street (Wait…are there any regulations on the money men?), continue to subsidize Big Agriculture and Big Pharma, and finally eliminate ANY costs that help and/or serve Americans who are not part of the 1%.
braindead Premium Member over 10 years ago
The patriotic Republicans are just itching for the chance to damage the full faith and credit of the United States. -The same ones who raised the debt limit 17 times during the Bush administration.-These are also the same Republicans who voted for the Iraq invasion, the Bush tax cuts (both), the Bush stimulus, Medicare part D, agriculture price supports for ADM and the other family farms, all kinds of secret earmarks, and tons of weapons the pentagon didn’t even want. -But, they really, really, really, really, really, want to cut spending. Really.
watmiwori over 10 years ago
The Schlachtkacker in Congress will make sure THEY get paid while they keep the gov’t shut dow, even if nobody elseis!
watmiwori over 10 years ago
Why not? We did it in 1929 — albeit with a much larger set ofidiots and orse hales!
BillH77 over 10 years ago
If any of the posters on this page every think the present 17,000,000,000,000 of debt will be paid they are either stupid or mere fools.
Also, the debt is increasing a lot faster than GDP. We crossed that dangerous line years past.
Most of the posters on this board have not had a finance class much less know the problems of fiat currency. Fine, so be it. But raising the credit ceiling higher does not take care of two problems:
1. the present monitization of the debt.2. no growth in the GDP
Yes, America does deserve to lose its “credit card”. When a government spends $1.75 dollars for every dollar of revenue then that generation does not deserve any credit.
Enoki over 10 years ago
And the President will give them a stern look and tell them whatever is on the Teleprompter.
Kip W over 10 years ago
It’s important to live within your means if and only if there’s a Democrat in office. That’s Republican Econ 101. Also 102 through 999.
Godfreydaniel over 10 years ago
Raising the debt ceiling is a matter of honorably agreeing to pay the debts we’ve already incurred (with both parties at fault over the decades). Not paying them can’t possibly be described as “conservative.”
COMICFAN244 over 10 years ago
Remember, everyone. You have the best Congress MONEY can buy. Remember, too, that only a fraction of you VOTED in the LAST ELECTION! Now. If YOU really want change: Get your neighbor and yourself to the Voter Booth next election. Who are your neighbors? Everyone else but you.
I Play One On TV over 10 years ago
Well stated. It is disheartening that, although the least-capable, least-well-educated adult must learn quickly that you can’t spend more than you make without ending up in trouble, our educated and privileged members of Congress seem as though they haven’t ever learned Econ 101. Pitiful.
And it’s our fault for returning them to Congress. We can communicate with our “representatives” all we want; many of them are unwilling to waste their time paying attention. Our recourse is the voting booth. I can only hope we voters will throw the bums out as soon as we can.
Thanks for your summary of economic truth, and your evaluation of the perpetrators of our current troubles.
Obviously_Wrong over 10 years ago
…but the uneducated, line-in-the-sand, binary creatures that comprise (unfortunately) an overwhelming percentage of society believes in the monetary-market dichotomy as the be-all-to-end-all solution! Just throw money at the problem, or more money at the problem. If that doesn’t work, throw money at the people to ignore the problem.
Gypsy8 over 10 years ago
Debt ceilings are redundant, you don’t need them, they serve no purpose other than to embarrass the incumbent government and to create economic uncertainty. National debt is a function of a combination of too high spending and too low revenue (taxation). Bring those two factors into balance and you have debt equilibrium, economic stability, and growth commensurate with the nation’s resources. .But what actually happens? Governments and congressmen like to provide stuff to the electorate, “bring home the bacon,” extend the empire, and polish their legacy. They also like to self-righteously lower taxes and will rationalize all sorts of reasons for doing so. But what they are really doing is ignoring reality and basic math. It is why nations fall into difficulty and why nations fail if corrections are not made.
watmiwori over 10 years ago
Debt ceiling is pure window dressing. If you or I raised ourdebt ceiling [an oxy-moron if there ever was one] so we couldcontinue to spend with NO intention of repayment, we’d findourselves in the bankruptcy andd/or criminal courts so fast it’dmaake our heads spin. Unfortunately we can’t do that to theCongress.
lmanningok over 10 years ago
Let’s start getting our costs under control by eliminating what the Tea Party and GOP love such as forcing American taxpayers to do the following: Close down public schools in favor of vouchers to private religious schools (aka Christian indoctrination machines), subsidize arms manufacturers by starting wars with lies (Another Iraq anyone?), ignore essential maintenance costs such as America’s infrastructure (Who needs safe bridges if YOU don’t drive across them?), cut food stamps and force children to go hungry because their parents’ jobs were shipped to Chinese slave laborers, eliminate regulations on Wall Street (Wait…are there any regulations on the money men?), continue to subsidize Big Agriculture and Big Pharma, and finally eliminate ANY costs that help and/or serve Americans who are not part of the 1%.