71% Of US Do NOT Want Debt Ceiling Raised

Discussion in 'Economy' started by Annie, Jan 13, 2011.

  1. Annie
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    Annie Diamond Member

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    Not too realistic, especially where the most want cuts, but telling:

    Public strongly opposes debt ceiling increase: Reuters/Ipsos | Reuters

     
  2. frazzledgear
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    frazzledgear Senior Member

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    They may not want it raised -but it will be. Neither party wants to be the one that allowed the US to lose its credit rating and all the terrible consequences that would result from that. As it is Moody's has given its SECOND warning to the US to get control of spending or have its credit rating reduced.

    I understand why people think it shouldn't be increased. They naturally believe this is just government's way of avoiding getting a handle on spending (and for too many it is) and similar to finding you have reached your credit card max with your out of control spending -and instead of coming to grips with the out of control spending, just ask the credit card company to raise your max so you can keep spending yourself into bankruptcy and debt you can never pay off.

    But not raising the debt limit really will bring economic disaster. It would make getting control of our debt even harder, the cost of government borrowing would greatly increase and the risk of total collapse takes a major jump. It would mean the US losing its triple A credit rating as a POORER RISK to loan money to at all and a lower credit rating means the US would be viewed as LESS likely to pay it back at all and some refuse to loan money to the US at all and those who would only willing to do so at a much higher interest rate. Which means it would INCREASE our debt even more. None of this would be a good thing. If they would ask people a question about the debt ceiling in context with the consequences that will happen if it isn't raised, I would expect a totally different result.

    Better if Republicans put strings attached to raising it -deciding it will be raised X amount for the following year -just enough to be adequate for the current budget - during which major cuts in spending will have to take place instead of more increases in spending -and avoid the really bad consequences that will happen if the debt ceiling isn't raised.
     
  3. Article 15
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    Article 15 Dr. House slayer

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    I don't want the debt ceiling raised either, however, my silly grasp on reality tells me that we don't have much choice at this juncture.
     
    Last edited: Jan 14, 2011
  4. editec
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    editec Mr. Forgot-it-All

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    I don't doubt it.

    Of course I'd like to see the wording of the poll, too.

    Do people even know what not "raising the country's debt limit" would mean?

    If they weren't told what it would mean, then really...this is nothing but a PUSH POLL
     
  5. Sarah G
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    Sarah G When Nothing Goes Right, Go Left Supporting Member

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    It will be raised and the Teaparty/Republicans will also vote for it. Guaranteed.
     
  6. jillian
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    jillian Princess Supporting Member

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    it's that whole fact-based reality thing.

    stop it! :lol:

    my own bet is that most people don't know what the debt ceiling is or what happens if they don't raise it.

    so there ya go.
     
  7. editec
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    editec Mr. Forgot-it-All

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    You don't want that debt ceiling raised?


    Okay start withdrawling the troops out of our central Asian wars immediately.

    Because otherwise they're going to be stranded there without supplies, a ride home or paychecks.
     
  8. Toro
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    Toro Diamond Member

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    Debt is merely a residual to fiscal policy.

    People say they don't want the debt ceiling raised. That's nice. They say they want the deficit cut. That's nice too. But they also don't want their taxes raised and their spending cut. They want someone else to pay for it, not them.

    Until people realize and accept there is a tangible cost to themselves, this is not going to be resolved.
     
  9. editec
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    editec Mr. Forgot-it-All

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    Spot on, Toro.
     
  10. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    Well...I don't believe we have much choice but Obama sure flip-flopped..

    -----------------------:eusa_whistle:

    While President Obama’s economic advisor Austin Goolsbee argued Sunday that a refusal by the Senate to increase the government’s debt ceiling (currently $14.3 trillion) would be “catastrophic” and a sign of “insanity,” that’s not the position the president has held in the past.

    Here are Obama’s thoughts on the debt limit in 2006, when he voted against increasing the ceiling:

    The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

    In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)

    Obama: Not Always a Fan of Upping Debt Ceiling - By Katrina Trinko - The Corner - National Review Online
     

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