This shows how far the Republicans noses are up the asses of the rich. They will NOT consider raising taxes on the only bloc that can afford it: the rich and big corporations. PLUS they want to destroy Social Security and Medicare.
They want the US economy to collapse and the rich and privileged few to profit off the collapse while the rest of the people suffer, turned into laborers willing to work for exceedingly low pay.
They want to turn America into a neo-feudalist state.
Too funny,you’re too blind to see that Obama and the Democrats are leading the coutry to the exact same end. All you are arguing over is which bus you want to take to get there, figuratively speaking. A pox on both their houses I say. They shouldn’t even be discussing raising the debt ceiling they should be discussing getting rid of it altogether.
Do you mean get rid of the debt, or get rid of the debt ceiling? A debt ceiling forces the government to consider the fiscal situation of the country, just as it is doing now. The problem is, Republicans have painted themselves in a corner. Democrats ARE willing to cut Social Security and Medicare, but only in return for new revenues, whether that’s raising taxes or closing loopholes. Republicans have refused both revenue options.
Canada went through a similar situation in the 1990s, did it not? And yet your parties were willing to compromise on steep spending cuts as well as tax hikes. The coalition government in Britain has implemented austerity measures with a mix of spending cuts and tax hikes that satisfied the majority of parliament. It’s apparent that the Democrats are willing to make a deal, but the Republicans are being pig-headed.
I’m referring to the debt ceiling. It has been raised 70 times in its history. That combined with the size of the debt and the expanding deficits would seem to argue against the concept of it doing anything to force the government to consider the fiscal situation. All it is is an opportunity for Democrats and Republicans to engage in more gamesmanship just as it always has.
8 out of 10 people that identify with the tea party, think they have a solid grasp on what happens if the US defaults, they say, the worst thing that could happen is the debt ceiling is raised and that will lead to more spending. Everyone else, on the other hand is less sure of what happens, good news the tea party express is in full control and not an out of control locomotive.
8 out of 10 people that identify with the tea party, think they have a solid grasp on what happens if the US defaults, they say, the worst thing that could happen is the debt ceiling is raised and that will lead to more spending. Everyone else, on the other hand is less sure of what happens, good news the tea party express is in full control and not an out of control locomotive.[/quote]
I’m not sure what my post has to do with the Tea party or what you think they think. Why don’t you tell me what democrats think? Apparently their view point on the this issue changes every four years or so just like their republican counter parts.
Incidently, despite all the retoric, failure to raise the debt ceiling doesn’t mean the US automatically goes into default. It means that the government can no longer borrow money. They can choose to shut down programs or they can suspend entitlement payouts. Saying that losing the ability to borrow instantly would lead to default is pretty much admitting the government is bankrupt.
Wether they raise the debt ceiling or not the US will eventually default. They’ve done it before in their history and they’ll do it again one way or the other. Their obligations are simply too large and dealing with them is politically impossible.
By the way anyone, who thinks that not raising the debt ceiling would be a good thing is out of their mind. The US needs to get it’s fiscal situation under control but it needs to do so in an orderly manner. Losing the ability to borrow would force the government to reign in spending but the process would be incredibly chaotic.
The Democrats want to raise the debt ceiling, and are willing to accept cuts to entitlements in exchange for new revenues, whether that means increasing marginal rates or closing loopholes.
This is false. The US has never, in its entire history, defaulted on its debt.
This is false. The US has never, in its entire history, defaulted on its debt.[/quote]
That is why the Dollar is always the safest investment and in times of economic decline everywhere else, people buy Dollars.
As my professor said a few years ago, “If at anytime in the near future the Dollar crashes, you won’t have to worry about putting your money somewhere else because there won’t be anywhere else to put it. The US always pays her bills because she has to- and she does.”
Never fear, the Chinese have come up with a solution: [quote]China Agrees To Erase Portion Of U.S. Debt If Americans Dress Up In Costumes And Perform Silly Dance For Them[/quote]
The Democrats want to raise the debt ceiling, and are willing to accept cuts to entitlements in exchange for new revenues, whether that means increasing marginal rates or closing loopholes.
This is false. The US has never, in its entire history, defaulted on its debt.[/quote]
Regardless of how you want to couch it, closing the gold window was a default. They failed to repay a loan as promised. In 1933, Congress passed a resolution to avoid paying back bonds with gold which again is a default. Regardless, the US owes more than it can ever repay and will either default outright or do so by inflating the currency.
Ironically enough, the best thing for the American middle class would be a default because inflation is basically a neutron bomb when it comes to the middle class.
This is false. The US has never, in its entire history, defaulted on its debt.[/quote]
That is why the Dollar is always the safest investment and in times of economic decline everywhere else, people buy Dollars.
As my professor said a few years ago, “If at anytime in the near future the Dollar crashes, you won’t have to worry about putting your money somewhere else because there won’t be anywhere else to put it. The US always pays her bills because she has to- and she does.”[/quote]
There are no true fundamentals in economics , which is not really a science on the par with the natural sciences.
The natural order of society is always in flux, things change, sometimes slowly, sometimes overnight. I woudln’t write off the US yet but saying the dollar can’t crash is very naive.
The Democrats want to raise the debt ceiling, and are willing to accept cuts to entitlements in exchange for new revenues, whether that means increasing marginal rates or closing loopholes.[/endquote]
Not quite, the devil is always in the details. Alot of these cuts are pushed out quite a ways into the future. Also, think about what you are saying here The Democrats want to raise the debt ceiling, and are willing to accept cuts to entitlements in exchange for new revenues,. Shouldn’t they be willing to accepts cuts in exchange for raising the debt ceiling? Why do they think the Republicans need to make any concessions? The Democrats want the ceiling raised and they need the Republicans to do it. Why would the Republicans feel the need to offer anything in the way of new taxes and endanger themselves with their base?
Edit: Don’t mistake me, I’m not saying the Republicans are right. The US budget needs spending cuts but, I can understand the need to raise revenue but, that is a debate on the budget not on raising the debt ceiling. Basically the Republicans are in a bit of a bind. Having always talked about the need for smaller government and fiscal responsiblity they are now faced with ‘putting their money where their mouth is’ so to speak.
This is false. The US has never, in its entire history, defaulted on its debt.[/quote]
That is why the Dollar is always the safest investment and in times of economic decline everywhere else, people buy Dollars.
As my professor said a few years ago, “If at anytime in the near future the Dollar crashes, you won’t have to worry about putting your money somewhere else because there won’t be anywhere else to put it. The US always pays her bills because she has to- and she does.”[/quote]
Your professor doesn’t really live in the real world does he? The US dollar has lost 90+% of its value since 1933. In terms of gold… have a look at the chart.
The government should do what any reasonably well-run company does when it runs out of money, cut to the bone. Get rid of the dead weight, then when times get better, grow.
Why can’t the government act like normal people with common sense?
If you don’t have the money for something, you just don’t buy it. It’s as simple as that. And, the vast majority of Americans understand that.
Furthermore, polls indicate that most Americans don’t want the debt ceiling raised.
[quote=“Got To Be Kidding”]The government should do what any reasonably well-run company does when it runs out of money, cut to the bone. Get rid of the dead weight, then when times get better, grow.
Why can’t the government act like normal people with common sense?
If you don’t have the money for something, you just don’t buy it. It’s as simple as that. And, the vast majority of Americans understand that. Furthermore, polls indicate that most Americans don’t want the debt ceiling raised.[/quote]
Sure they understand it and, may even support it… until it’s their entitlement or interest in the cross hairs.
Because the government is not a company, it is elected by the citizens and supposed to follow their will. Do you think the citizens will be against raising the debt ceiling when their schools close, crime rockets and services fail.
