Separate names with a comma.
Discussion in 'Politics and News' started by Farang, Dec 3, 2012.
Gotta love it, reduce the deficit by removing the debt ceiling.
How does the debt ceiling reduce the deficit.
In fact it has added to our deficit by creating a micro recession the last time Republicans held the country hostage. I wonder if anyone has calculated the revenue impact of that crisis?
It is supposed to put a lid on spending. You rather just give Obama a blank check? You and I seem to remember the Democrats refusing to cut $66 Billion out of a budget very differently than I do.
It doesn't put a lid on spending. It puts a lid on paying what we already owe.
Thinking the debt ceiling is an answer to the deficit is like thinking lighting your credit card bills on fire is a solution to your debt.
And eliminating the debt ceiling is like getting more credit cards to solve your debt problem. And yes, it is absolutely supposed to put a limit on spending. Why do you think it has to be raised each year to fund the Gov?
You don't seem to understand that we've already bought whatever we're spending money on, and the debt ceiling doesn't prevent that. Hence lighting credit card bill on fire.
What do you think happens if the debt ceiling isn't raised? If you don't know, I'll tell you--we default on the debt. I.e. we light our credit card bill on fire. That does not solve any problem that creates one, considering we currently don't have a problem. When people talk about a fiscal crisis they are talking about trends leading to decades from now that need to be fixed. What you're talking about creates a crisis out of thin air.
National debt isn't like personal debt. Our debt as a percentage of GDP is higher than it should be but is not at a point where we face collapse. If we start doing things like not paying our bills, because we don't raise the debt ceiling, we create problems for ourselves that didn't exist previously.
Apparently the GOP wasn't listening back in November when America spoke clearly again. Keep playing obstructionist politics and we'll keep voting you out one by one...
I don't know how I can simplify this for you. The debt ceiling is the amount of debt the government is allowed to incure to fund the fiscal year. That includes all it's bills from paychecks for federal employees to interest payments on the national debt. If the debt ceiling isn't raised, the U.S. will then have to decide which expenses and debts to pay and which can wait. You only default if you decide to not pay the interest on the debt.
debt ceiling is not raised.
Exception is the interest on the debt. We're only allowed to pay that.
The military has ceased getting paychecks and our defense spending is cut off (don't have an exact percentage for you, but a huge portion of federal spending).
Social security and Medicare payments are stopped, people who planned retirement around these programs are left to fend for themselves (don't have an exact percentage for you, but a huge portion of federal spending).
The government grinds to a halt (discretionary spending, a small fraction of federal spending)
In other words, your credit card bills are in a big flaming pile
I'm assuming you're a teenager. It's the only explanation. Talk to your parents about their retirement plan.
actually your side has the teenager response;
"Our credit cards are maxed out"
Oh what to do.
Lefts solution: Get more credit card.
The only grown up solution is to stop spending more money then you take in, take away the credit card from the addicts, and set up a budget they can live with to pay of what they owe.
I haven't seen that proposal reported anywhere else. Can you provide another source?
All tax increases should be blamed squarely on the Republicans.
This really is lame. Congress already authorized the spending in various appropriations bills. They knew that the debt ceiling would be exceeded when they passed those bills. If they want to place conditions on such spending, they need to do it before the appropriation bills are sent to the President. Otherwise, it's very damaging to the credibility of the Govt, of which they are obviously a part.
I think Obama needs to take a had core public stance telling the people everyones taxes will go up when the fiscal cliff hits and it will be the GOPs fault. Then when it happens the people will know what party to blame (GOP) and thus nail in coffin for them.
They are proposing a Fictitious solution that the American people have rejected CLEARLY in the last Election. The Democrats want REAL numbers put in writing so the Republicans can EAT the cuts to the Social Contract programs that a majority of Americans support.
It's what the whole repub song & dance about deductions is aimed at accomplishing. People with relatively high earned income use those deductions to reduce their effective tax rate. People whose enormous incomes are derived from investment start from a much lower top marginal rate, 15% vs 35%.
People in the $250K-$400K range fight like Hell for every deduction to bring their effective tax rate down to ~22%. They've structured their spending around the ability to do that, particularly wrt housing. The Romneys of this world max out at 15-18%, anyway, on much, much larger incomes. The only way to effectively have them pay more taxes is to raise their rates, because deductions don't do that much for them in comparison.
Raising revenues means raising somebody's taxes, and Repub leaders want to spare those most easily able to pay more, the true Bush constituency. It's what they believe in, and they'll toss whoever they need to sacrifice right under the bus to accomplish that.
Nobody is addressing that the Bush tax cuts were highly irresponsible in the first place.
Hate to say you're an idiot... and I'm not defending Republicans here - but the blame is automatically directed to whichever party is POTUS - regardless. The general public is always and forever will be that stupid. And hate to break it to you, but republicans are talking. Republicans are branching off from their stance of not raising taxes. Obama is throwing them a bone without the steak.
Americans support getting more then they pay for.
Yep, more regurgitated Ryan plan nonsense, which the voters handily rejected.
Why should they give details on their plan? The Democrats gave them 'unspecified cuts'. Yep lots of detail and REAL numbers there. *
I don't think either side knows how to deal with real numbers when the public is actually going to pay attention. It's become to hard to fudge the numbers. I would really like both sides to use actual numbers as we might get some valid discourse between the two groups.
However - this is what I predict will happen: One side will release actual specified details on their plan (Slight edge to it being the Democrats). The otherside won't and will take the opportunity to poke holes in the plan while pretending not to notice their plan is nothing more than a vague outline on a napkin. Negotiations will be intense, but hindered by partisanship, retardation and a lack of detail. End result: We end up with nothing that fixes the long term issues and is only slightly better than the cliff
*Not saying this is a stance I agree with but its the stance I bet they are taking. Its much more politically safe to use vagaries than give actual numbers. If the other side can't be bothered to use real numbers why should they take the risk?
He gave us 3 highly partisan op-eds...what more could you possibly want?
Since we don't have a major political party that is seriously interested in and committed to cutting spending, the debt ceiling is completely impotent at curbing spending.
This. Nothing will happen till Jan 1, and then everyone will be a savior/tax cutter.
This, CBO says that math is BS, which makes it a non-starter.