Debt ceiling Republicans voting for raising the

[Ungie]

we need to get this monkey off of our back and we need to start to do it soon before it is too late. If we tried to get away this kind of money management we would be in jail. We need to look at cuts in the budget, and getting people jobs here in the US.

 

[Libertarian01]

This.

You decide to eat at a restaurant.
You decide to pay with a credit card.

Raising the debt ceiling = paying the credit card. Not raising the debt ceiling = not paying the credit card. Neither = saving money. Saving money would have been not eating out in the first place. Paying cash would have eliminated the decision to pay or not pay the credit card.

To All,

It is this ^^^^ and MORE!

The problem is that the debt ceiling is a false thought to begin with. There IS a way to NOT raise the debt ceiling -> Raise REVENUE through increased tax rates or elimination of tax loopholes and bring in enough money to pay for what we have ordered.

I hate this for the record, but the idea that the "debt ceiling" is a true limit on our debt level is faulty logic. The reason I believe I must say I hate what I am advocating is because I do not want to promote the perception that it is what I want to do, rather it is what I believe we need to do in order to avoid an economic catastrophe the likes of which will make the Great Depression look like a stroll in the park. The numbers have grown too large.

We must decrease spending - FOR REAL! (This will really hurt)

We must decrease our unfunded liabilities - FOR REAL! (This will really hurt)

We must increase revenues. This problem cannot be solved by one side absorbing the hit because it is too big. (This will really hurt)

We spend the majority of our money on Medicare (mandatory spending), Medicaid (mandatory spending), Social Security (mandatory spending), Interest on the National Debt (VERY mandatory spending), Military (discretionary spending) and Everything Else (discretionary spending.)

Of the discretionary spending almost two thirds goes to the Military! See link: Federal Spending: Where Does the Money Go

The fact is that out of every $1.00 we spend about $0.85 goes to SS, Medicare, Medicaid, Military and Interest on the debt. The remaining $0.15 goes to everything else! The "everything else" category may (?) go to $0.20 depending upon what you count, but the reality is that the vast majority of our spending goes to four (4) programs, Medicare, Medicaid, SS, and the Military. Only one (1) of those is discretionary (military) and the majority of people who really want to see our spending cut do NOT want it cut there!

So what do we do? We listen to the band as the ship goes down...

In all reality I think the Republicans are playing it smart. For the main reason that I have stated in several other threads and will not go into overmuch detail here I believe Obamacare is going to explode in the Democrats face next year! The massive burdens and problems it is going to cause on everyone's income tax returns in 2015 will likely cause a huge stink nationally! Problems unforeseen by most today are going to rear their ugly heads and the Democratic Party machine is going to endure extreme hatred by those who do not really involve themselves in politics.

As such, I believe the best course of the Republicans is doing what they are doing; going along to get along. Do not rock the boat. Do not cause any undo fuss. Then when the hits the fan in 2015 they (R's) will just sit back and say "we told you so!" They will take control of of the Senate and hold the house. Depending upon who they run the White House will be theirs even against HRC! As Hillary is very popular the Republicans will have to be very careful about their choice, but I do not believe Hillary will be immune to blowback from Obamacare. She is too closely tied to it being in his cabinet.

In the end I believe the Republicans are on the right track to taking control of the legislature (at a minimum) and probably the White House. The main issue I have is that once in they will #1) NOT repeal Obamacare; #2) NOT make real spending cuts; and #3) NOT increase revenues. As such, we will simply be just as irresponsible as with Democratic control, but in different areas.

Regards,

Doug

 

[LockStocksAndBarrel]

The talk of defaulting on our debt is a red herring. We have enough coming in to cover our debt obligations and then some. I'll have to research it but I think it also covers transfer payments as well. The whole argument is being thrust out there that we will default, when in fact, that is false.

Found it. Debt serving and transfer payments amount to 1.1t of the 3t we pay in taxes.

http://www.forbes.com/sites/jeffrey...l-government-can-survive-without-an-increase/

 

[gunslinger762]

It used to be a struggle to extend the debt ceiling... The economy is on such shaky ground that when government "delayed" and "struggled" with this decision to extend the debt it actually hurt the economy. Now the decision comes easy and is evidence of the seriousness of where we really are.

We are at the point of no return... either extend the debt or let it collapse.
If we extend it we live in these conditions a while longer, then it collapses later.
If we do not extend it, then it collapses now.
Either way, the system does not work, and needs to collapse so we can replace with something that does.
What exactly this new system would be I do not know, but it is evident this system cannot continue.

 

[bonkers1919]

Raising the debt ceiling is akin to getting another credit card to pay the other credit cards I have.

 

[catabler]

Sad that most of my military career will have been during a democrat CinC in office!