The Debt Ceiling Is Coming! The Debt Ceiling is Coming!

[MTI]

CNN/ORC Poll: Debt Ceiling blame game – CNN Political Ticker - CNN.com Blogs


Wait . . . what? No silly-busters? No shutdown talk? WTF?

[Idle]

James Madison thought all the fuss over the national debt was only a tactic to tear the country apart and that was in 1787.

[Hatterasguy]

I'm not looking forward to it, the republicans seem to be gearing up to give the ACA another run for its money. I guess they figure the dimwits that vote have already forgotten about last fall.

[Hatterasguy]

Originally Posted by Idle

James Madison thought all the fuss over the national debt was only a tactic to tear the country apart and that was in 1787.

Judging by some of the comments I have been reading under news articles online it seems like some of the GOP's constituents are actually hoping that happens. They don't like what's happening with the country so they rather see it destroyed than try to fix it.

[Botnst]

Fixing a thing that can't work is an exercise in very expensive futility.

[POS]

Soooo, you're all excited that the government spends so much that they have to legally raise the maximum limits on which they can borrow? Y'all have been trained well.

The conversation regarding this should not be centered on who is more evil - Dems or Repubs. The conversation should be a quite unanimous citizenry who realizes that Congress is evil for over-spending THE HELL out of all our money while giving themselves exemptions from all the things on which they place on us. I'm amazed that this silly country fights over trivial finger-pointing while we collectively forget to see the basic faults.

Shutdown? Fine with me. It's bad PR for the government as a whole; they deserve it. Perhaps someday in my lifetime, the people will rise in anger at the jackasses who take their power for granted. I'll march in the streets when the citizens finally band together to slow this monstrous government. But I'm not holding my breath...

[Dudesky]

I got a letter from Visa said I had maxed out my line of credit but not to worry, they were going to raise my limit if I spend much much more.

[Idle]

Originally Posted by POS

Soooo, you're all excited that the government spends so much that they have to legally raise the maximum limits on which they can borrow? Y'all have been trained well.

The conversation regarding this should not be centered on who is more evil - Dems or Repubs. The conversation should be a quite unanimous citizenry who realizes that Congress is evil for over-spending THE HELL out of all our money while giving themselves exemptions from all the things on which they place on us. I'm amazed that this silly country fights over trivial finger-pointing while we collectively forget to see the basic faults.

Shutdown? Fine with me. It's bad PR for the government as a whole; they deserve it. Perhaps someday in my lifetime, the people will rise in anger at the jackasses who take their power for granted. I'll march in the streets when the citizens finally band together to slow this monstrous government. But I'm not holding my breath...

Congress has already spent the money. Now it is time to pay for what they voted to spend money on. Perhaps they should have thought about how they were going to pay for the things they decided to buy before they bought them.

Right now the mantra is: When your family runs out of money you don't get to just keep spending. What they hope you don't notice is that they ran out of money about ten years ago but just kept on spending. Their trying to say Obama spent the money might fool a lot of people, but I don't see how they can keep up blowing money and blaming someone else forever.

[tjts1]

Looks like the Republicans are preparing another 11 dimensional chess move to prevent President Obama from being re elected. I say more power to them, its good to keep busy in your waning years.

[elchivito]

The GOP doesn't care about the debt ceiling any more than the Dems do. It's an opportunity, nothing more.

[sloride]

Originally Posted by Dudesky

I got a letter from Visa said I had maxed out my line of credit but not to worry, they were going to raise my limit if I spend much much more.

A closer analogy would be that your teenaged offspring hit their limit on their credit card that you make the payment on, and threatened to stop going to school unless you have the limit raised.
Where Parent= taxpayer
Teenager=government

[MTUpower]

Originally Posted by Idle

Congress has already spent the money. Now it is time to pay for what they voted to spend money on. Perhaps they should have thought about how they were going to pay for the things they decided to buy before they bought them.

Right now the mantra is: When your family runs out of money you don't get to just keep spending. What they hope you don't notice is that they ran out of money about ten years ago but just kept on spending. Their trying to say Obama spent the money might fool a lot of people, but I don't see how they can keep up blowing money and blaming someone else forever.

So what if they "spent" the money. Is it your contention that they've already given the actual dollar bills to the agencies which they said they would budget X amount to? Is it your contention that congress will ever obligate LESS than govt revenue?
The answer to both those questions is a resounding NO. Something must break the cycle. Saying no to a debt ceiling increase is the only way.

[MTI]

Originally Posted by sloride

A closer analogy would be that your teenaged offspring hit their limit on their credit card that you make the payment on, and threatened to stop going to school unless you have the limit raised.
Where Parent= taxpayer
Teenager=government

I thought that the closer analogy is that the US government spent (went to a restaurant, bought on Amazon, catered a wedding, whatever) and now the same folks that placed the orders won't pay the charge bill because of their principles.

[elchivito]

Who started this whole "debt ceiling is like a credit card spending limit" sham anyhow??

[MTI]

U.S. GAO - Debt Limit: Delays Create Debt Management Challenges and Increase Uncertainty in the Treasury Market

The debt limit does not control or limit the ability of the federal government to run deficits or incur obligations. Rather, it is a limit on the ability to pay obligations already incurred. While debates surrounding the debt limit may raise awareness about the federal government's current debt trajectory and may also provide Congress with an opportunity to debate the fiscal policy decisions driving that trajectory, the ability to have an immediate effect on debt levels is limited. This is because the debt reflects previously enacted tax and spending policies.