Quote:
Originally Posted by joeydb
The bad news is you owe more to the credit card company than you will ever be able to repay, and your children, and your children's children for as many generations as it will take are on the hook for the bill.
The good news is you have a AAA credit rating!  |
We don't owe more than we can repay. In fact, if we do nothing at all, just let the Bush tax cuts expire, the deficit is mostly gone in 10 years or so.
The Republican Paul Ryan budget just passed in the House necessitates the debt ceiling to be raised twice in five years. The GOP knows how budgets and cash flow and Treasury bonds work.
Why people keep confusing paying our past bills, and what the debt ceiling is, with future spending is beyond me. Unreconcilable stupidity, I guess.
Not raising the debt ceiling only does one thing. It prevents us from using cash flow to pay the bills we already owe. Money we already spent. It causes default.
The debt ceiling has nothing to do with limiting future spending.
The debt ceiling has nothing to do with limiting future spending.
The debt ceiling has nothing to do with limiting future spending.
The idiots in the Tea Party congress that think otherwise and are blocking this routine, one-sentence accounting housework are threatening to bring this country down, and need their term limit to kick in with the 2012 election. They are not intelligent enough to govern. They have a disconnect from reality. They are dangerous for this country.