Derby Trail Forums

Go Back   Derby Trail Forums > The Steve Dellinger Discourse Den
Register FAQ Members List Calendar Today's Posts

View Poll Results: In the vote to raise the debt limit of the United States, I would
Vote Yes - raise the debt limit 12 37.50%
Vote No - the debt is too high already 15 46.88%
Vote Present - hey, this vote is too hard 5 15.63%
Voters: 32. You may not vote on this poll

Reply
 
Thread Tools Display Modes
  #1  
Old 04-19-2011, 09:19 PM
joeydb's Avatar
joeydb joeydb is offline
Santa Anita
 
Join Date: Jun 2007
Location: Southeastern PA
Posts: 3,044
Default

Quote:
Originally Posted by Riot View Post

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.
Why? If they can borrow and spend $862 billion as part of a "stimulus", why can't we cut an amount less than that?
Reply With Quote
  #2  
Old 04-19-2011, 10:40 PM
lord007 lord007 is offline
Hawthorne
 
Join Date: Feb 2009
Posts: 526
Default

How About Stop Spending Period??????
Reply With Quote
  #3  
Old 04-20-2011, 09:13 AM
Antitrust32 Antitrust32 is offline
Jerome Park
 
Join Date: May 2006
Location: Ft Lauderdale
Posts: 9,413
Default

Quote:
Originally Posted by joeydb View Post
Why? If they can borrow and spend $862 billion as part of a "stimulus", why can't we cut an amount less than that?
Thats what I was thinking.

we need to slash everything by 25% across the board. Starting with military.
__________________
Quote:
Originally Posted by Riot View Post
Can I start just making stuff up out of thin air, too?
Reply With Quote
  #4  
Old 05-16-2011, 12:44 PM
joeydb's Avatar
joeydb joeydb is offline
Santa Anita
 
Join Date: Jun 2007
Location: Southeastern PA
Posts: 3,044
Default

Still would vote no, and will call congressman and senators to try to persuade them.

Spend more? The answer is "NO!" Enough.
Reply With Quote
  #5  
Old 05-16-2011, 12:57 PM
Riot's Avatar
Riot Riot is offline
Keeneland
 
Join Date: Mar 2007
Posts: 14,153
Default

Quote:
Originally Posted by joeydb View Post
Still would vote no, and will call congressman and senators to try to persuade them.

Spend more? The answer is "NO!" Enough.
I wish you could understand the basic concept that the debt ceiling being raised has nothing at all to do with increasing our spending.
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
Reply With Quote
  #6  
Old 05-16-2011, 01:05 PM
joeydb's Avatar
joeydb joeydb is offline
Santa Anita
 
Join Date: Jun 2007
Location: Southeastern PA
Posts: 3,044
Default

Quote:
Originally Posted by Riot View Post
I wish you could understand the basic concept that the debt ceiling being raised has nothing at all to do with increasing our spending.
Well it SHOULD, should it not? Why are we spending more than we take in, ever, let alone for many, many years?
Reply With Quote
  #7  
Old 05-16-2011, 01:19 PM
Riot's Avatar
Riot Riot is offline
Keeneland
 
Join Date: Mar 2007
Posts: 14,153
Default

Quote:
Originally Posted by joeydb View Post
Well it SHOULD, should it not? Why are we spending more than we take in, ever, let alone for many, many years?
That has nothing to do with our debt ceiling, though. That's budgeting. And budget trouble started back in 2000, Joey. Yes, not from scratch, but we did some very major things to screw ourselves during the 2000's. There is no denying that.

http://en.wikipedia.org/wiki/Debt_ceiling#Debt_ceiling

Look: if you are paying compounding interest rates of X on your car, house and credit cards, saying you no longer can afford to pay X, you want to pay X - 3, doesn't make those interest rates drop or go away.

You can say you refuse to pay that accumulating, compounding interest any more, but saying that doesn't make it go away, and defaulting on it is a financial disaster. There is also the component of the debt ceiling that goes to our cash flow.
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
Reply With Quote
  #8  
Old 05-16-2011, 01:29 PM
joeydb's Avatar
joeydb joeydb is offline
Santa Anita
 
Join Date: Jun 2007
Location: Southeastern PA
Posts: 3,044
Default

Quote:
Originally Posted by Riot View Post
That has nothing to do with our debt ceiling, though. That's budgeting. And budget trouble started back in 2000, Joey. Yes, not from scratch, but we did some very major things to screw ourselves during the 2000's. There is no denying that.

http://en.wikipedia.org/wiki/Debt_ceiling#Debt_ceiling

Look: if you are paying compounding interest rates of X on your car, house and credit cards, saying you no longer can afford to pay X, you want to pay X - 3, doesn't make those interest rates drop or go away.

You can say you refuse to pay that accumulating, compounding interest any more, but saying that doesn't make it go away, and defaulting on it is a financial disaster. There is also the component of the debt ceiling that goes to our cash flow.
The way to pay X-3 in your example is to not take on any more debt, by slashing other spending until you are below what you take in. Then you have extra money not to spend but to pay down that debt with. You might then be in a position to negotiate a lower interest rate over a longer period of time. But at least at that point you have a workable plan with which to retire the debt.

The congress is doing neither. They are not cutting spending, and they always hit a deficit level of spending almost every year.

If you live above your means today, you will have to live below your means in the future to make up for it. That's just math.

So, let's bite bullet and slash the spending with a chainsaw, and pay down the debt. That means no debt ceiling raises. In fact, once we start paying down the debt I want a debt ceiling contraction.
Reply With Quote
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 07:20 PM.


Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.