Should the Debt Ceiling be Raised?

[a777pilot]

This nation, one of a handful that actually has a Debt Ceiling, is about to reach its published debt ceiling. What to do?

My first reaction is to do nothing. We, this nation, still will be taking in over $2 trillion in revenue this year and that is way more than enough to service our debt. Yes, it would mean we would have to cut back on other things, but so what?

Yes, I know our Congress Critter will do as they are told and raise the debt ceiling, so, to what? In that case, I say raise it to $1,000 trillion and be done with it. It's a limit with no meaning anyway.

 

[fskimospy]

This nation, one of a handful that actually has a Debt Ceiling, is about to reach its published debt ceiling. What to do?

My first reaction is to do nothing. We, this nation, still will be taking in over $2 trillion in revenue this year and that is way more than enough to service our debt. Yes, it would mean we would have to cut back on other things, but so what?

Yes, I know our Congress Critter will do as they are told and raise the debt ceiling, so, to what? In that case, I say raise it to $1,000 trillion and be done with it. It's a limit with no meaning anyway.

It is a limit with no meaning, and having a debt ceiling is a relic from the gold standard era. While the taxes we would take in would be enough to service our debt, they would not be enough to cover all the obligations that the government is required by law to service, nor would it be enough to operate government agencies that substantial portions of commerce law, labor law, etc. depend upon, leading to problems much worse than any debt, and likely causing worldwide economic chaos.

If you want to cut the size of government, fine. Attempting to do so in this manner is literally the stupidest way to possibly go about it.

 

[manimal]

try to understand the process before you even try to discuss it..


seriously..

 

[NoStateofMind]

This nation, one of a handful that actually has a Debt Ceiling, is about to reach its published debt ceiling. What to do?

My first reaction is to do nothing. We, this nation, still will be taking in over $2 trillion in revenue this year and that is way more than enough to service our debt. Yes, it would mean we would have to cut back on other things, but so what?

Yes, I know our Congress Critter will do as they are told and raise the debt ceiling, so, to what? In that case, I say raise it to $1,000 trillion and be done with it. It's a limit with no meaning anyway.

Are you implying that if Congress doesn't pass an inflated debt ceiling that Obama will just overspend anyways? if so, thats not the way it works, thankfully.

Judge breaks it down.

We need to cut spending first before we talk about the debt ceiling.

 

[a777pilot]

try to understand the process before you even try to discuss it..


seriously..

For instance?

 

[a777pilot]

Are you implying that if Congress doesn't pass an inflated debt ceiling that Obama will just overspend anyways? if so, thats not the way it works, thankfully.

Judge breaks it down.

We need to cut spending first before we talk about the debt ceiling.

We need to cut spending first before we talk about the debt ceiling.

If only we would!

 

[JS80]

That's the wrong question. It's "when will the debt ceiling be raised."

 

[wuliheron]

try to understand the process before you even try to discuss it..

seriously..

What do you have against coup d'etats and kindergarten discussions of politics?

 

[Anarchist420]

No, they shouldn't raise the debt ceiling. But they will anyway.

In fact, they should reduce the debt ceiling to zero after they default on the existing debt and then once they do that they can reinstate the Subtreasury System and Jackson's specie circular.

 

[IGBT]

No. the financial healing needs to start while financial health is still achievable.

 

[JTsyo]

The debt ceiling is not the way to achieve financial goals. They should work on the budget to reduce the deficit.

 

[Schadenfroh]

Yes and the politicians will raise it after they finish playing chicken with our AAA rating and shaky economic recovery.

 

[manimal]

For instance?

If you did adequate diligence and researched your topic you would have an answer to own question. Do some light reading on the subject and get back to us..

 

[sandorski]

The Debt Ceiling seems nothing more than a waste of time. Get rid of it and instead of spending all this time playing Chicken with the Economy, work towards fixing the Economy and the Deficit/Debt.

 

[wuliheron]

The Debt Ceiling seems nothing more than a waste of time. Get rid of it and instead of spending all this time playing Chicken with the Economy, work towards fixing the Economy and the Deficit/Debt.

You're no fun. There has to be lots of trash talk before the main wrestling match to get the audience all psyched up.

 

[Darwin333]

No, they shouldn't raise the debt ceiling. But they will anyway.

In fact, they should reduce the debt ceiling to zero after they default on the existing debt and then once they do that they can reinstate the Subtreasury System and Jackson's specie circular.

Fuck that. I say we max out the credit cards first and THEN default. Free hookers and blow for everyone!

 

[Hayabusa Rider]

We need to make sure our bond ratings go to hell so let's just go on as we always have.

 

[JockoJohnson]

Quote:
Originally Posted by sandorski View Post
The Debt Ceiling seems nothing more than a waste of time. Get rid of it and instead of spending all this time playing Chicken with the Economy, work towards fixing the Economy and the Deficit/Debt.

You're no fun. There has to be lots of trash talk before the main wrestling match to get the audience all psyched up.

Why on earth would either of you think that the politicians will ever work towards fixing any of this if there is no cap?

I always hear how we need gov't regulation to guide companies to do the right thing. Well, take away the debt ceiling and what will make these politicians do the right thing?

I know they aren't really doing the right thing now but at least with the debt ceiling, they will have to think about it before just spend more. And with the right combination in Congress (no majority by either party), a discussion and hopefully resolution will be put into place.

Our current system is not setup to tackle the debt ceiling. House of Reps has two years before an election. That is such a short term that the only thing they will do is placate the boobs that put them in there in the first place. Tackling the debt is not going to be a short term solution. It will be a long term solution and the road to it will piss off a lot of voters on either side because of the ME ME ME mentality. Those pissed off retards won't vote the politicians back in and the new ones will just go back to spending instead of coming up with a real solution.

 

[sandorski]

Why on earth would either of you think that the politicians will ever work towards fixing any of this if there is no cap?

I always hear how we need gov't regulation to guide companies to do the right thing. Well, take away the debt ceiling and what will make these politicians do the right thing?

I know they aren't really doing the right thing now but at least with the debt ceiling, they will have to think about it before just spend more. And with the right combination in Congress (no majority by either party), a discussion and hopefully resolution will be put into place.

Our current system is not setup to tackle the debt ceiling. House of Reps has two years before an election. That is such a short term that the only thing they will do is placate the boobs that put them in there in the first place. Tackling the debt is not going to be a short term solution. It will be a long term solution and the road to it will piss off a lot of voters on either side because of the ME ME ME mentality. Those pissed off retards won't vote the politicians back in and the new ones will just go back to spending instead of coming up with a real solution.

There is no Cap. There's just a meaningless number that creates a little drama every few years. After this Cap is raised and everybody vows to do something, the Cap will be reached again, more drama will be had, people will vow to do something again. Just get rid of it and stop the drama, then force them to fix the situation.

 

[a777pilot]

If you did adequate diligence and researched your topic you would have an answer to own question. Do some light reading on the subject and get back to us..

I have. I am interested in the opinions of others. I asked for their opinion by beginning with my "feelings" on the matter.

If you have no opinion on this subject, well, then, move along.

 

[Patranus]

Only if they pass the balanced budget amendment.

 

[a777pilot]

Only if they pass the balanced budget amendment.

How would this Balanced Budget Amendment be worded?

You do know that an Amendment would take years to pass. The last amendment took over 200 years to be approved.

 

[wuliheron]

Why on earth would either of you think that the politicians will ever work towards fixing any of this if there is no cap?

You have it backwards fool. Trust is something you earn. Wake up! The country is now 50 trillion dollars in debt and these assholes keep moving the lines they draw in the sand. More lines in the sand won't ensure anything except more lines drawn in the sand. If that's all it takes to make you happy then I suggest you move to the desert. Its cheap, nobody ever goes there, and you can draw all the lines your little heart desires until you die of sun stroke.

I always hear how we need gov't regulation to guide companies to do the right thing. Well, take away the debt ceiling and what will make these politicians do the right thing?

I know they aren't really doing the right thing now but at least with the debt ceiling, they will have to think about it before just spend more. And with the right combination in Congress (no majority by either party), a discussion and hopefully resolution will be put into place.

Again, its just the trash talk before the wrestling match begins. You draw lines in sand, they draw lines in the sand, and everybody steps right over them and dares the other guy to draw another line in the sand. Go ahead, draw all the lines in the sand you care to and blame whoever you want. See how much good it does you.

Our current system is not setup to tackle the debt ceiling. House of Reps has two years before an election. That is such a short term that the only thing they will do is placate the boobs that put them in there in the first place. Tackling the debt is not going to be a short term solution. It will be a long term solution and the road to it will piss off a lot of voters on either side because of the ME ME ME mentality. Those pissed off retards won't vote the politicians back in and the new ones will just go back to spending instead of coming up with a real solution.

Screaming and yelling about the American public being selfish and irrational is... well... selfish and irrational. They are what they are and if it isn't obvious to you yet that all the screaming and yelling in the world will not change that fact then I suggest you seek professional counseling. That or, again, move to the desert where you can draw all the lines in the sand your little heart desires.

 

[matt0611]

I'm ok with raising it if we make a plan to balance the budget within 5 or 6 years.

 

[OutHouse]

Cool borrow more money from the comumist to run our country!!!!