i thought cutting was the goal?

[dellinger63]

with talk of yet another stimulus the last thing this President needs is a higher debt limit. Maybe the raising of the debt limit and by how much should be a monthly decision until we get it under control and Obama gets control of his habit?

[Danzig]

Originally Posted by dellinger63

with talk of yet another stimulus the last thing this President needs is a higher debt limit. Maybe the raising of the debt limit and by how much should be a monthly decision until we get it under control and Obama gets control of his habit?

yeah, absolutely no doubt that moody's would keep us with our current credit rating if we did what you're suggesting.

[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!

[Riot]

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.

[Danzig]

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!

our economy is partly based on this countrys credit rating. i figured you knew that.

[joeydb]

Originally Posted by Danzig

our economy is partly based on this countrys credit rating. i figured you knew that.

I do know that. But when you hear "raise the debt limit and protect the credit rating", you still have all this debt and we need to really start paying it back, which will never happen as long as we keep borrowing.

[Danzig]

Originally Posted by joeydb

I do know that. But when you hear "raise the debt limit and protect the credit rating", you still have all this debt and we need to really start paying it back, which will never happen as long as we keep borrowing.

yeah, we need to fix the borrowing-but we can't default, which would be an awful result of the stupidity in washington.

[Riot]

Originally Posted by joeydb

I do know that. But when you hear "raise the debt limit and protect the credit rating", you still have all this debt and we need to really start paying it back, which will never happen as long as we keep borrowing.

We can pay it back, but not if we allow default. Default will send our interest rates on the debt we already have skyrocketing. Then we'll never be able to pay it back.

I thought hope and change was? Empty slogans 4tw.

[joeydb]

Originally Posted by Riot

We can pay it back, but not if we allow default. Default will send our interest rates on the debt we already have skyrocketing. Then we'll never be able to pay it back.

OK, that sounds reasonable. And nobody actually WANTS a default, but then the president and the Democrats do need to allow serious cuts in spending. If you can cut the spending enough to actually start paying the (net) debt back, then raising the debt limit in the interim by a small amount seems like a good idea.

Both sides are playing chicken. "No cuts in 'benefits' for entitlements" and "Not raising the debt limit no matter what" are irreconcilable positions.

[Riot]

Originally Posted by dellinger63

with talk of yet another stimulus the last thing this President needs is a higher debt limit. Maybe the raising of the debt limit and by how much should be a monthly decision until we get it under control and Obama gets control of his habit?

1) This country is in a stagnant recession with stagnant unemployment, and needs a massive jobs bill.

2) Economics 101: You do not cut spending, stop money flow, in a recession.

3) The debt ceiling raise is to continue paying bills we already owe, and has nothing to do with any future spending.

4) The House initiates spending. The President of the United States does not have the money. Congress does.

5) You apparently need an "America 101" course to figure out how this country works, as you clearly don't know.