geithner is BEGGING for the debt ceiling to be raised F#%king BEGGING!!

Quote from startraitor:

It happened under Clinton in 95 no big deal, everyone was made whole, federal workers even got paid for not showing up for a couple of days.
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You are confusing two different issues, the shutdown in 95 was caused by not passing a budget, had nothing to do with the debt ceiling not being raised


Quote from Scataphagos:

Even if the debt ceiling is not raised and the government shuts down, there will still be tax revenues flowing.

1st priority with those revenues is to honor the interest and principle on government securities. Therefore, no "default"... and other areas of spending get short-changed for a while. Hate to break the news, but that would NOT be "catastrophic".
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+1

Not raising the debt ceiling simply means they can no longer spend more than they take in... so it isn't like they can't spend any money - they can continue to service the current debt. Plus they have so many tricks they can use if they have to ... they just want to scare everyone so the GOP doesn't try to use the ceiling being raised as leverage to get some more spending cuts.
 
Quote from GTS:

You are confusing two different issues, the shutdown in 95 was caused by not passing a budget, had nothing to do with the debt ceiling not being raised


+1

Not raising the debt ceiling simply means they can no longer spend more than they take in... so it isn't like they can't spend any money - they can continue to service the current debt. Plus they have so many tricks they can use if they have to ... they just want to scare everyone so the GOP doesn't try to use the ceiling being raised as leverage to get some more spending cuts.
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GOP arent going to agree in raising the debt ceiling unless they get the spending cuts they want, which arent that great anyway.
 
Just found this little fact today, $222,500,000,000 in one single month....this is a fucking joke.....




The nation’s deficits have soared in recent years as the administration took widespread actions to rescue the country from the prospect of a second Great Depression. In February the federal government racked up an all-time record of red ink: $222.5 billion in a single month.
 
I still dont understand this, everyone is talking about fixing the nations soaring deficits, yet all they continue to do is raise the debt ceiling over and over and over and over again. If they were so worried about fixing the soaring deficits they should stop raising the debt ceiling. Bunch of idiots. So all these fools want a plan in place to fix the deficit before they vote on raising the debt ceiling. How about not raising the debt ceiling and focus on cutting the nations debt right now!!!!!!



However, 23 Republican senators have said they will not vote to raise the country’s debt ceiling unless the White House agrees to tackle entitlement programs in the ongoing budget talks.

“Unless we do something important about the debt, I don’t believe there will be a single Republican senator voting to raise the debt ceiling,” the top GOP senator Mitch McConnell told the Wall Street Journal last month.

In fact, even one Democrat senator – West Virginia’s Joe Manchin – said he will vote against raising the debt ceiling unless his vote is linked to a plan to fix the nation’s soaring deficits.
 
the point i can't understand is why a supposedly democratic country? why is it that policies and actions can proceed without a proper "democratic" process, say how did every citizen get forced into absorbing banks losses and a host of weird spending programs, how did an unelected official decided this and or claims there's no inflation, any man woman on the street can see it, how do they dish out Phds nowadays, can't be worth much, or how get into another war and claim its not a war, democracy is a farce
 
Who cares if the U.S. hits the debt ceiling? They will just change the rules.

The U.S. still is spending more than it produces. The super rich have never been better.

Where's the money coming from?
 
Quote from achilles28:

The deficit is the stimulus. If the debt ceiling isn't raised, no more stimulus. The economy would contract by at least 10%, within months. Financials, insurers, real estate and the indicies would plummet. No borrowing means no bailouts. It also means no money to finance the war machine in Iraq, Afghanistan and Libya. Total contraction upwards of ~20%. It really would be a disaster. If they don't raise the ceiling, you can bet the Federal Reserve will finance the short-fall directly.
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This is the best argument I've heard for not raising the debt ceiling. We've got to go cold turkey some time. If we are forced out of the stupid forever wars so much the better. Maybe they'll even zero out the budget of the TSA. (I can dream, can't I?)
 
Quote from elitetradesman:

Who cares if the U.S. hits the debt ceiling? They will just change the rules.

The U.S. still is spending more than it produces. The super rich have never been better.

Where's the money coming from?
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Exactly, all they do is change the rules....

Seems everything is a quick fix in this economy. Spending Trillions is the easiest quick fix they can come up with.
 
How much do you want to see cut from the federal budget?
$41 billion 1.03% (85 votes)

$61 billion 7.94% (654 votes)

Over $100 billion 91.03% (7,496 votes)
 
TO paraphrase Everett Dirkson, A billion here and a billion there and pretty soon your talking about real money.
 
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