My credit card should have infinity credit limit!

reply to post by beezzer


Well Beezer.

If you don't raise the debt ceiling, the US automatically defaults on it's debt.

Public and federal employees don't get paid. Subsidized government projects grind to a halt.

Unemployment would skyrocket over night.

This isn't about the government spending more money, it's about the government being able to pay it's interest on the loans, as well as make good on their commitments otherwise.

~Tenth

reply to post by neo96


Oh I agree that Social Security needs a revamp. But let's remember that they borrowed heavily out of that fund and left IOU's that they can't get anymore.

IMO you need an opt out feature for this younger generation and a guanrantee for anybody whose paid into it over the course of their life time.

Don't cheat those who made good on a government promise. DOn't screw those who realize the ponzi scheme being presented.

~Tenth

reply to post by tothetenthpower


We are not given the choice, anytime anyone mentions the privatization of SS benefits, they scream bloody murder how we hate old people, and all that rubbish.

They created those programs for taxation, and power to keep , and maintain power,and control over the American citizen.

All for their glory of their vote and keep them in office.

They will never give that power up they just scream abolish the debt limit ceiling, tax the rich etc.

Originally posted by tothetenthpower
reply to post by beezzer

 

Well Beezer.

If you don't raise the debt ceiling, the US automatically defaults on it's debt.

Public and federal employees don't get paid. Subsidized government projects grind to a halt.

Unemployment would skyrocket over night.

This isn't about the government spending more money, it's about the government being able to pay it's interest on the loans, as well as make good on their commitments otherwise.

~Tenth

But if they are doing all these things (supposedly) to reduce the debt, then there shouldn't be a need to raise the debt ceiling.

Bottom line, they need to cut spending.

reply to post by beezzer


But you can't NOT raise the debt ceiling this is what I'm telling you.

They can't do it, because the interest on the debt is greater than the debt. As soon as they reach the limit if the extension isn't passed, your whole country falls to crap over night.

Is it really worth doing? Or is thi somethign better left AFTER you raise the debt ceiling and then pass something of af freeze on discretionary spending?

That sounds far more intelligent than keeping your economy in a hostage situation. How do you think the stock market will react if they wait too long and fears of default mount? What if the rating agencies decide, and rightfullly so that the government is playing with fire, has no plan and drops it's credit rating even further?

The only reason they are whining bout the debt ceiling is for political points. It's a partisan game, using your, and your kid's future as the pieces.

Yes you do have to cut spending, but you MUST raise revenue. You don't have the kind of economy that affords one or the other. You are past that point. It's time for Americans to take their licks for their own financial mistakes.

~Tenth

reply to post by beezzer


Or make the majority start paying for what they want logic would dictate the course of action:

Stop spending obviously they don't want to do that.

They obviously don't want to make those using those services pay for what they use.

So here we are the fiscal cliff abolish the debt ceiling tax the rich and never address the underlying cause.

They think all they have to do is throw money at a manufactured "problem" and everything will be peachy keen.

Clueless leading the hopeless in DC.

Originally posted by beezzer

Originally posted by sheepslayer247
Obama is not asking for the ability spend without limit. I know it must be hard to read with your new eyepatch, but I'm sure you can comprehend the real context of the proposal....not the political rhetoric.

Are you saying that government spending wil decrease if the debt ceiling is eliminated?

No, I'm saying that from what I have read the proposal asks for the power of debt-limit increases be taken out of the hands of congress. I didn't see anything that says the debt-limit will be outright removed.

reply to post by tothetenthpower


I see your point, but we are just creating a greater problem down the road if we don't address it now.

(See Greece, Spain, Portugal, Italy)

We need to enact austerity measures now, on our own, or measures will be drawn later that we have no say in.

Originally posted by neo96
reply to post by beezzer

 

Or make the majority start paying for what they want logic would dictate the course of action:

Stop spending obviously they don't want to do that.

They obviously don't want to make those using those services pay for what they use.

So here we are the fiscal cliff abolish the debt ceiling tax the rich and never address the underlying cause.

They think all they have to do is throw money at a manufactured "problem" and everything will be peachy keen.

Clueless leading the hopeless in DC.

edit on 30-11-2012 by neo96 because: (no reason given)

2 multi-billion dollar stimulus packages
3 Quantatative Easments.

and nothing to show for it.

reply to post by beezzer


The problem is that austerity measures usually only cover the public services and promised benefits of retirees and public employees.

It does not cover the bigger issues like military spending, nor does it combat the issues of corporate welfare and unfair tax policies that benefit the corporate lobby and wealthy.

It is a very precarious situation. Some social benefits may have to be trimmed, but the real money and potential savior of our economy will be in forcing corporations to pay their fair share in taxes and the wealthy will no longer be able to coast off the backs of the poor and middle class.

reply to post by sheepslayer247


Entiltement spending is the biggest corporate welfare there is in this country

Geez

Understand this:

Seriously:

Tax the rich so the middle class and poor can go buy more corporate products!

reply to post by sheepslayer247


However you want to dress it, we're screwed. Blame Bush, blame Obama, *meh*

we can figure out who started the fire later.

Right now the house is on fire and all the government is doing is turning up the AC and ignoring the flames!

Originally posted by beezzer
I called the bank today after reading a story from Reuters.

Seems that if Obama is trying to pass legislation to give his administration an unlimited credit limit (by abolishing the debt ceiling) then we should all have one also!

The Obama administration's opening bid on Thursday in negotiations to avert a year-end fiscal crunch included a demand for new stimulus spending and authority to unilaterally raise the U.S. borrowing ceiling, a Republican congressional aide said.

So spend your heart out America! It's a new day! A new dawn! Spend then don't worry about paying it back! We'll get some rich SOB to pay the bill!

(mods, if you feel that this belongs in Rants, then I will be angry and yell at lawn furniture)

edit on 30-11-2012 by beezzer because: (no reason given)

don't forget to shake your furry fist!!

it's required

reply to post by PurpleChiten


I saw you replied and starred ya before I even saw your reply.

I already knew it was worth it!

reply to post by neo96


The more money the poor and middle class have...the more money that will flood into the economy. It is no coincidence that income disparity is higher now than it ever has been and we happen to be in the precarious position we are in.

The best thing we could do to increase employment, tax revenue and overall welfare of the population......give everyone foodstamps! They have a better return on investment than anything else the government does, people get fed and it benefits the economy with spending.

I know it sounds insane, but it works.

reply to post by beezzer


You're right Beez. We are screwed. It will take something drastic to stop this train wreck, but I doubt it will happen.

Beezer, even though I ALWAYS dissagree politically with you,
You're a good man. And a Truthful member.
So I too think you deserve a credit card with no limit
and no repercussions.

reply to post by sheepslayer247


Funny how that "argument" doesn't work for the evil rich just the poor(who pays no income tax) the middle class who pays some income tax that is offset by paying the least in to social programs if any.

Originally posted by sealing
Beezer, even though I ALWAYS dissagree politically with you,
You're a good man. And a Truthful member.
So I too think you deserve a credit card with no limit
and no repercussions.

Thanks, but I'll pass.

Cash only.

Originally posted by beezzer
reply to post by PurpleChiten

 

I saw you replied and starred ya before I even saw your reply.

I already knew it was worth it!

always

Guess I should make a "real post"

I didn't approve of the deficit when bush was in, I don't approve of the deficit with obama in. They need to do some repair work in all branches of the government.

I can see Tenth's points, but also don't want our government, regardless of who's in charge, to be able to write themselves a "blank check". Before they change the debt limit, before they approve a new budget, before they go on break for Christmas, they need to formulate a plan to improve our financial situation.

These people are the leaders of our nation, not some little office workers somewhere trying to do the best they can with what they have. They are the LEADERS of the most powerful nation in the world. They have access to the greatest minds that exist today. They have the ability to tap into any talent that exists in the nation or in most of the world. There's no excuse for this. BOTH parties fight and pick and poke and argue and whine but they don't get any actual work done. This two party system is destroying what many lives were lost to preserve and both parties should be absolutely ashamed.

Obama is the President of the United States. I don't care if he's from my party or the other party, he has a responsibility. He is supposed to lead ALL people of this country, not just those who agree with him. He is supposed to lead the entire country and ensure that we remain at the top. With everything he has at his disposal, there is no excuse for failure. There was no excuse for bush either so this isn't against Obama (especially since he's from my party), it's against the perpetually pitiful presidents we have been saddled with. The leader of the free world has a big responsibility. If they don't want that responsibility put on them or if they can't handle that responsibility, they have no business running for the office.

To the congressmen, stop your petty bickering and clean up this mess!
To Obama, stop looking at what you can spend and think about what you can save.
To all the private companies and the billionaires of the world, stop your whining, pay your taxes and try to make a positive difference in our country instead of lining your pockets even more than they area already. You can't take it with you.

Originally posted by beezzer

Originally posted by sealing
Beezer, even though I ALWAYS dissagree politically with you,
You're a good man. And a Truthful member.
So I too think you deserve a credit card with no limit
and no repercussions.

Thanks, but I'll pass.

Cash only.

And smart too!