Quote:
Originally Posted by joeydb
I would vote against this in Congress, and try to get many others to do the same. Rubber stamping debt increases is not going to provide any incentive for the necessary slashing of spending.
If the "Day of Reckoning" comes sooner, so be it. For in order to end this debt crisis gracefully, there will have to be a severe and steady deceleration of spending.
To keep raising the debt ceiling until the creditors (a.k.a. China et al.) cut us off is not an answer.
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So you're entirely okay with the United States defaulting on our debt, and pushing the world into a worldwide recession? And living with the poverty and increased interest rates for everyone (by marked percentage points) for the next two decades at least, if not permanently? The permanent change of life as we know it in the United States? The US becoming no longer a leading first world country?
That's crazy and irresponsible. That is exactly what will happen if we never borrow one more penny, but fail to raise the debt ceiling.
Seriously, Joey - what did you think of Geithner's January letter? That's it's a lie?
You wanna know what we would have to "slash" for the remainder of this year and next in order to
not increase the debt ceiling? $754 billion. That's physically impossible.
Hey, you guys can continue to argue that position. I'm out. It's a batshiat crazy position.