Debt deal reached

[dross]

I'll ask again, what should they have held out for?

 

[Bunnykid68]

I'll ask again, what should they have held out for?

EVER

 

[hornadylnl]

I'll ask again, what should they have held out for?

A $1.5 trillion ANNUAL budget cut plus $1. What would be even better is a $1.5 trillion ANNUAL budget cut plus yearly interest on the debt plus $1.

 

[Bunnykid68]

I thought their deal was covered over a 10 year period

 

[jedi]

I'll ask again, what should they have held out for?

A $1.5 trillion ANNUAL budget cut plus $1. What would be even better is a $1.5 trillion ANNUAL budget cut plus yearly interest on the debt plus $1.

This would have been a good start.
Lets see if I'm doing my home budget and I have to borrow to get it in order then I must not be doing the Dave Ramsey baby steps right so what to do?

1) Cut **ALL** expenses minus the 3 basic: food, shelter, and utilities.
2) Whatever you have left over you begin to pay off your debt with.

So in this case you cut all expenses that do not bring you any revenue and you tell the world. Sorry but we are not paying you this month or you can have "xyz" this month. Take it or leave it.

 

[jblomenberg16]

Read about half way down in this link. The Graph shows there is no reduction in the debt, just a few trillion over 10 yeards cummulative in the budget deficit. Which means we're going to continue to add to the debt over the next decade, if we last that long.

House passes debt ceiling bill - politics - Capitol Hill - msnbc.com

 

[jedi]

Read about half way down in this link. The Graph shows there is no reduction in the debt, just a few trillion over 10 yeards cummulative in the budget deficit. Which means we're going to continue to add to the debt over the next decade, if we last that long.

House passes debt ceiling bill - politics - Capitol Hill - msnbc.com

Yes we (on this board) already know that. About the only thing that can help the US now is if the world credit agencies indeed follow thru on their word and downgrade the US credit rating not but 1 notch but several!

In essence reality needs to slap DC in the face just like reality is slapping IL in the face. Springfield raised the state taxes and continue to spend and what have biz small and large done? They are leaving the state of IL. Some to IN others to other states and IL is falling deeper into the rabbit hole but even still springfield does not see reality.