Debt ceiling... we don't need to stinking debt ceiling!

[rudder]

http://www.nasdaq.com/aspx/stock-ma...ctions-to-take-us-over-debt-ceiling-on-monday

Not with Timothy Geithner running things. It is only a $32 billion overage... but still a violation of the law. The debt ceiling is going to keep getting raised anyway... but it would be nice to see hard coded spending cuts in place before that happens.

 

[Craig234]

The budget issues where we decide how much to spend, and paying our bills we did take on, are two different things.

Any on the right who are threatening to cause the US to default on it bills for the first time in our history, with huge damage to us as a result, are incredibly dangerous.

 

[PokerGuy]

According to Craig the obvious right answer is for the government to continue uncontrolled spending into oblivion. Yeah, that's a great answer, what could possibly go wrong?

 

[YoungGun21]

According to Craig the obvious right answer is for the government to continue uncontrolled spending into oblivion. Yeah, that's a great answer, what could possibly go wrong?

No, I think he is saying forcing this country into economic collapse is a bad idea.

I would agree with that.

 

[ConstipatedVigilante]

No, I think he is saying forcing this country into economic collapse is a bad idea.

I would agree with that.

Yep, so cut foreign aid and some defense spending.

 

[JSt0rm]

No, I think he is saying forcing this country into economic collapse is a bad idea.

I would agree with that.

You fail to realize all these neocons have a basement full of canned food and guns and ammo up to their eyeballs. They need a collapse as this skill set they have spent decades perfecting actually has no value.

 

[senseamp]

Congress passed the budget, Treasury is going to pay for it as required by law. If that breaks the debt limit, then Congress needs to hurry up and raise it, not expect Treasury to do some miracle.

 

[Double Trouble]

While I think the debt and spending it out of control, defaulting on the debt would have far reaching and serious consequences and is not something that should be toyed with as a political football. Everyone needs to get serious about cutting spending before we'll get anywhere on the debt, and I understand that the republicans are trying use the debt ceiling as a way to force some cutting, but ultimately that's not the right way to go about it.

 

[halik]

Yep, so cut foreign aid and some defense spending.

It's interesting i never heard the former in the news. If I'm going broke, first thing that will go are charity donations.

 

[Darwin333]

http://www.nasdaq.com/aspx/stock-ma...ctions-to-take-us-over-debt-ceiling-on-monday

Not with Timothy Geithner running things. It is only a $32 billion overage... but still a violation of the law. The debt ceiling is going to keep getting raised anyway... but it would be nice to see hard coded spending cuts in place before that happens.

As I understand it there is no "or else" in the law making it more of a suggestion than a punishable offense.

 

[Darwin333]

The budget issues where we decide how much to spend, and paying our bills we did take on, are two different things.

Any on the right who are threatening to cause the US to default on it bills for the first time in our history, with huge damage to us as a result, are incredibly dangerous.

That is factually incorrect. It would not cause us to default on our "bills" as in our debt obligations. We take in enough money to easily cover the costs of servicing our debt. It would cause us to make severe cuts across the board including hitting the "big 3" extremely hard but we could easily make our debt payments.

 

[Darwin333]

Yep, so cut foreign aid and some defense spending.

Cut all of the defense spending (and I mean every last penny) and all foreign aid and we are still short roughly a trillion bucks give or take a hundred billion.

What next?

 

[BladeVenom]

According to Craig the obvious right answer is for the government to continue uncontrolled spending into oblivion. Yeah, that's a great answer, what could possibly go wrong?

That seems to be Obama's plan.

 

[fskimospy]

Cut all of the defense spending (and I mean every last penny) and all foreign aid and we are still short roughly a trillion bucks give or take a hundred billion.

What next?

US defense related expenditures each year are somewhere around $1 trillion. (depending on what you count), so we would be a lot close than $1 trillion away from balancing the budget if we took it all out.

Just saying.

 

[jackschmittusa]

BladeVenom

You mean the Republican plan to make the country so broke that it couldn't pay for anything for those that aren't rich?

 

[werepossum]

http://www.nasdaq.com/aspx/stock-ma...ctions-to-take-us-over-debt-ceiling-on-monday

Not with Timothy Geithner running things. It is only a $32 billion overage... but still a violation of the law. The debt ceiling is going to keep getting raised anyway... but it would be nice to see hard coded spending cuts in place before that happens.

Damned complicated TurboTax!