The debt ceiling debate

[artgecko]

The US Congress is debating raising the debt ceiling. They do this every time that they overspend and hit the previous ceiling. What is the point of having a debt ceiling if they always raise it?

It is like having your credit card company raise your credit limit every time you get to your limit. Then when you can't pay the minimum payment, they give you a second card to use to pay the first.

Does anyone really think that either party will do anything other than agree that we raise the debt ceiling now and get serious later?

Of course they will never really make the hard choices that are needed to lower the debt. They will just keep kicking the can down the road. :main_angry:

 

[Slake]

Just want to say, I agree with this.

 

[roger]

The US Congress is debating raising the debt ceiling. They do this every time that they overspend and hit the previous ceiling. What is the point of having a debt ceiling if they always raise it?

It is like having your credit card company raise your credit limit every time you get to your limit. Then when you can't pay the minimum payment, they give you a second card to use to pay the first.

Does anyone really think that either party will do anything other than agree that we raise the debt ceiling now and get serious later?

Of course they will never really make the hard choices that are needed to lower the debt. They will just keep kicking the can down the road. :main_angry:

That is why the U.S is headed for a major economic collapse.Maybe not in a year or 2 but it will happen.Nobody is going to want the US dollar.Obama is still pointing fingers instead of finding a solution.I would do two things.Go overseas and lobby the U.S companys back to manufacture products back in the states and entice them them with tax incentives.That way ppl will be put back to work.Second I would recall 90% of the troops back home and save a ton of money.Im a Canadian who is interested in US politics.Canada has done pretty good getting through the recession.Our prime Minister is going abroad negotiating contracts to bring the work back here to Canada.

 

[ElapidSVT]

if both parties hadn't voted to spend the money in the first place, the debt ceiling would never have had to be raised to pay the bills. the policies of the right wing have brought our country to its knees by reducing the tax burden on the ultra rich and placing it squarely on the the backs of the middle class. if tax cuts for the rich created jobs, don't you think the past 9 years of bush's cuts would have made some difference? these tax cuts are the very reason our credit rating was downgraded for the first time in history.

when bush took office, there was a surplus or funds and enough revenue coming in that the national debt would have been paid off by 2011. but noooooooooooo. bush squandered that, dropped the ball on the information that OBL was going to attack us, and started several wars with no way to pay for them.

outsourcing jobs is a right wing policy that has helped rich corporations get richer, but has destroyed american manufacturing. i liked the old republicans that were all hot for "Made in America"

the sole priority for the right is to destroy the country because it's their only hope of getting Barack Hussein Obama, our president out of office. i'd prefer they worry more about the people in our country that are hurting.

they claim to be 'good christians' while denying the poor food, stealing from the poor to give to the rich, and destroying jobs.

it's simple to see what works. our country has one of the lowest tax rates in the world, and countries with low tax rates are mostly third world countries. when our country had taxes up with the other top countries, we were GROWING by leaps and bounds. the middle class are the job creators, not the wealthy. the wealthy save their money, the poor/middle class spend everything. by spending money, demand for products increases, manufacturing grows to supply the demand, jobs are created. it's simple economics, not reaganomics. supply side economics is a lie that has been shown to not work.

[/rant]

 

[animeavatar]

I hate tax! I have no clue what the debt ceiling is.

 

[lillith]

Ya know? I'm gonna stay out of this one, that's what FB is for. ;D

 

[NinjaDuo]

That is why the U.S is headed for a major economic collapse.Maybe not in a year or 2 but it will happen.Nobody is going to want the US dollar.Obama is still pointing fingers instead of finding a solution.I would do two things.Go overseas and lobby the U.S companys back to manufacture products back in the states and entice them them with tax incentives.That way ppl will be put back to work.Second I would recall 90% of the troops back home and save a ton of money.Im a Canadian who is interested in US politics.Canada has done pretty good getting through the recession.Our prime Minister is going abroad negotiating contracts to bring the work back here to Canada.

Lol remove 90% of troops ehh? That's a terrible idea, if only you knew.
My dad is in the military and thanks to cut backs lost his job.... So no fixing the economy at the expense of fleeing from all the countries wouldn't do a thing.
There has never been a time that war was not part of human nature.... It's in our blood to fight each other. Mix in religion for a fuel and you have a pretty destructive concoction. If we don't try and maintain the peace in other parts of the world it will back fire and wars will happen in your backyard... The problem is just like every other "great" nation in human history, we get lazy and then collapse. There is no way around it.

 

[artgecko]

Forgot I made the OP.
As I predicted, the debate led to no real solution and the 'cuts' in spending are over 10 years with most cuts in the last years, so they have plenty of time to change the law.

I agree that we need to bring our troops home. I wouldn't stop at 90% though. We need to get out of Korea, Germany, Japan and the 100+ other countries that we have troops stationed. Bring them ALL home, reopen the closed bases in the states. Start spending money HERE instead of policing the world. The rest of the world can take care of itself.

I totally disagree with the idea that raising taxes on the most productive people (wealthy) would solve any problems. We don't have a tax problem, we have a spending problem. We have an out of control federal government (both parties are to blame) that promises voters somethin' for nothin' in exchange for votes. So the spending continues.

It is mathematically impossible to ever repay our national debt without devaluing the dollar. And this will wipe out the middle class and anyone that saved any money. You better get ready for that day now.

I feel bad for the poor, but the answer is not to steal the wealth of productive people that played by the rules, made good decisions, invested in their future and worked their asses off. In most cases the poor are poor because they wasted their youth instead of taking advantage of all that is available in this country. Most communities have public libraries, where anyone with an ounce of ambition can get access to all the information they need to succeed. They just need to get off their asses and do it.

I grew up in a family with very little money and know what it is like to be poor. But I worked hard in school, and did my homework instead of playing basketball at the park and smoking weed like most of the kids around me. I worked my way through college and struggled for years. That investment paid off and now that I have a decent income, some liberal/progressive thinks they can hold a gun to my head and steal it to give it to someone that wasted their chance? Sorry, that sends the wrong message.

The best way to help the poor is to offer them jobs. Jobs require an employer with savings and capital and a chance to make a profit. If you steal the capital from the people that have it, who is going to do the hiring? Government? by stealing $$ from someone else? What happens when there is no one left to steal from?

As for jobs going offshore. It is not a Right Wing invention. Remember it was Bill Clinton that signed the NAFTA deal that sent many jobs to Mexico. I am sure many Republicans are also to blame. But it is neither a right or left problem, it is a government problem. Government creates rules and regulations (and taxes) that make it more profitable to hire people in China and India than to hire them here.

<enough ranting>

 

[NinjaDuo]

I still don't agree with you. I don't think you realize who wants us dead. But the rest of your post I agree.

That's why Osama called us a paper tiger..... We look scary and big.... But we always back out. So eventually, yes, our economy will fall. But I think were to far in debt to start reversing it...