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01-15-2011, 12:26 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
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Should we, or should we not...
http://news.yahoo.com/s/ap/20110115/...s/us_debt_wars
Let's get past the fact that this issue was maneuvered to the new year so it could become a political football for the new Congress.
Should we, or should we not, bump up the debt ceiling. I say no. No, strike that. I say HELL no. What say you?
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01-15-2011, 12:35 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,857
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Unfortunately, we have to. I presume you are familiar with the phrase "the full faith and credit of the United States." Not extending the debt ceiling would be nothing other than simple-minded grandstanding. Accordingly, it has a chance.
__________________
As long as the roots are not severed, all will be well in the garden.
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01-15-2011, 12:46 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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It would put the dollar in the toilet and it is not doing all that well as it is.
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Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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01-15-2011, 12:53 PM
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Loyal Opposition
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Join Date: Oct 2009
Location: Johnson County, Kansas
Posts: 14,401
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It does play into the hands of the right, because they would just as well see government shut down as keep going. Acting like true patriots, you know, consequences be damned.
Regards,
D-Ray
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Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
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01-15-2011, 02:06 PM
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Abby Normal
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Join Date: May 2009
Posts: 11,245
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Quote:
Originally Posted by whell
http://news.yahoo.com/s/ap/20110115/...s/us_debt_wars
Let's get past the fact that this issue was maneuvered to the new year so it could become a political football for the new Congress.
Should we, or should we not, bump up the debt ceiling. I say no. No, strike that. I say HELL no. What say you?
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what of the consequences?
good grief, what is the next nonsense you have in mind?
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01-15-2011, 03:06 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
Unfortunately, we have to. I presume you are familiar with the phrase "the full faith and credit of the United States." Not extending the debt ceiling would be nothing other than simple-minded grandstanding. Accordingly, it has a chance.
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I'm familiar with the phrase. However, if we're $14 Trillion in debt, its not the full faith and credit of the United States backing our dollar. Its someone else's credit.
Since our past, and potentially current, governing class shows no sign of spending restraint, when would you suggest the credit limit actually becomes a LIMIT?
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01-15-2011, 03:08 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by noonereal
good grief, what is the next nonsense you have in mind?
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Anytime I read your posts, nonsense jumps off the screen and enters my mind.
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01-15-2011, 03:33 PM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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I say we pass out a big, fat tax cut. Oh, the hell with it, let's just stop paying the bills altogether, cut all taxes and devolve into anarchy. Then the loonies can finally live out their Mad Max/ Grizzly Adams lifestyle fantasies..............
No, seriously. I would say spending has to be cut and the ceiling stays where it is. Lower the ceiling as debt is reduced. What good is having a "debt ceiling" if all we do is push it up as debt increases? At that rate it's meaningless anyways so, why bother?
The real controversy behind it all is; What do you cut?
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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01-15-2011, 03:40 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,857
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Quote:
Originally Posted by whell
I'm familiar with the phrase. However, if we're $14 Trillion in debt, its not the full faith and credit of the United States backing our dollar. Its someone else's credit.
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But it's our debt and by borrowing it we, as a nation, promised to pay it back.
Quote:
Originally Posted by BlueStreak
No, seriously. I would say spending has to be cut and the ceiling stays where it is. Lower the ceiling as debt is reduced. What good is having a "debt ceiling" if all we do is push it up as debt increases? At that rate it's meaningless anyways so, why bother?
The real controversy behind it all is; What do you cut?
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Unless and until Congress, particularly those making all the spending cuts noises, show their meddle, the whole debt ceiling argument is a symbolic distraction. In many cases, the same folks clamoring for not increasing the debt ceiling want to increase DoD spending.
My tip to Congress - cut the tough guy rhetoric and silly symbolism and get to work finding meaningful cuts and enact them.
__________________
As long as the roots are not severed, all will be well in the garden.
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01-15-2011, 03:47 PM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by finnbow
Unless and until Congress, particularly those making all the spending cuts noises, show their meddle, the whole debt ceiling argument is a symbolic distraction. In many cases, the same folks clamoring for not increasing the debt ceiling want to increase DoD spending.
My tip to Congress - cut the tough guy rhetoric and silly symbolism and get to work finding meaningful cuts and enact them.
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Right. "Shit or get off the pot!" as it were. They will want to cut everything except the expansion of empire.
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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