Don't Raise The Debt Limit. The Sky Really Wont Fall...

[LibocalypseNow]

All this Debt Limit Fear Mongering stuff really has gotten to be ridiculous. The State of Minnesota shut their Government down and guess what?...They're still here. They didn't disappear from the face of Earth in a gigantic ball of fire. In fact,they just got a deal done and are now re-opening their Government. So their shutdown was a good thing in the end. We should not raise the Debt Limit. Not raising it will force them to make big cuts immediately. They will have no choice. And lets face it,force is the only way you're going to get our Government to make real cuts.

The Nation will not collapse and disappear from the face of Earth if the Debt Limit is not raised. That's all just Fear Mongering B.S. They do this kind of Fear Mongering right before their Wars and spending debacles like Stimulus Packages. Fear is their biggest weapon in getting what they want. The U.S. really will still be here after not raising the Debt Limit. Seriously,it's true. All it will do is force their hand in making real cuts. So don't let fear rule your life. Don't believe their hype. Don't raise the Debt Limit. The Sky really wont Fall.

 

[LibocalypseNow]

Threatening financial calamities and withholding Social Security Checks really is just awful Fear Mongering blackmail. Most people in this country would be shocked to realize the World did not end after not raising the Debt Limit. Unfortunately it's too late for that. The awful Fear Mongering propaganda has been successful in spooking the herd. And that's just sad.

 

[LibocalypseNow]

I really do hope they don't raise the Debt Limit. You'll have to force the Government to stop their spending madness. And not raising the Debt Limit will do that. I guess we'll see though.

 

[Seawytch]

You can play Russian Roulette and win 5 out of 6 times...

 

[Trajan]

the state and fed are not the same, the damage is taken on the state, not the monetary structure and nationwide fisc.

I don't think we will default and we should not, but, lest be clear.

IF anyone read the Moodys and S&P reports on the potential downgrade, just raising the debt ceiling is not the answer, quite the contrary, the downgrade is because we have not planned the to get the debt and deficit under control and adding another 2 trillion in debt is not the answer ( its only a short term budgetary fix).

 

[LibocalypseNow]

You can play Russian Roulette and win 5 out of 6 times...

I don't see it as "Russian Roulette." That's just their hysterical Fear Mongering talking. They always do this right before their Wars and spending nightmares like Stimulus Packages. They have to try and spook the herd. Fear really is their biggest weapon. If they don't raise the Debt Limit,we'll still be here. They'll just be forced to make big cuts immediately. I hope most stand by their principles and vote No on raising the Debt Limit.

 

[Mad Scientist]

I talked to my boss the other day, I told him that he needed to pay me more because I have so many bills.

He just looked at me and said GTFO!

That is what we should say to our "leaders" in D.C.

 

[Seawytch]

Beyond a Default

I don't know about anyone else, but it will be pretty catastrophic to anyone living paycheck to paycheck, for their interests rates to go up...in some places 70% of the population owe more on their homes than they are worth.

Causing damage to the economy of the civilized world isn't something you toy with, period.

 

[Wry Catcher]

the state and fed are not the same, the damage is taken on the state, not the monetary structure and nationwide fisc.

I don't think we will default and we should not, but, lest be clear.

IF anyone read the Moodys and S&P reports on the potential downgrade, just raising the debt ceiling is not the answer, quite the contrary, the downgrade is because we have not planned the to get the debt and deficit under control and adding another 2 trillion in debt is not the answer ( its only a short term budgetary fix).

For once we agree, sort of; we should not default on our debt. Where we disagree is on the deficit and long term debt. We should not try to fix a decades old systemic problem in one fiscal year.

It's time to consider the farwell address of the last competent Republican POTUS.

American Rhetoric: Dwight D. Eisenhower -- Farewell Address

 

[angryvet]

If our bonds are downgraded, we will be borrowing at a higher rate. They just downgraded Ireland, a country with a pretty good economy. I don't think this is Russian Roulette, I think that we are in serious jeopardy of having our TBonds turn into junk bonds.

 

[kyzr]

I don't know about anyone else, but it will be pretty catastrophic to anyone living paycheck to paycheck, for their interests rates to go up...in some places 70% of the population owe more on their homes than they are worth.
Causing damage to the world's largest economy isn't something you toy with, period.

Its not the individual's interest rates that are the concern, they can choose not to borrow.

The BIG PROBLEM is the US Government's borrowed debt. Right now they/we pay about $400b a year just in interest on that $14T, if the interest rates go up that becomes $1-trillion or more, then we are just like Greece, no way to pay for Medicare or SS.

We need the DC coxuckers to wise the fuck up and get busy solving the entitlement and fiscal mess.

 

[iamwhatiseem]

the state and fed are not the same, the damage is taken on the state, not the monetary structure and nationwide fisc.

I don't think we will default and we should not, but, lest be clear.

IF anyone read the Moodys and S&P reports on the potential downgrade, just raising the debt ceiling is not the answer, quite the contrary, the downgrade is because we have not planned the to get the debt and deficit under control and adding another 2 trillion in debt is not the answer ( its only a short term budgetary fix).

Absolutely.
The rest of the world is coming to terms with the fact that the "great" American economic system was a freaking mirage built on using debt as income...even as our own financial system has their heads buried in the sand and driving up stock prices as long as they can even though it is ensuring the next bubble burst is getting worse by the day

 

[iamwhatiseem]

I don't know about anyone else, but it will be pretty catastrophic to anyone living paycheck to paycheck, for their interests rates to go up...in some places 70% of the population owe more on their homes than they are worth.
Causing damage to the world's largest economy isn't something you toy with, period.

Its not the individual's interest rates that are the concern, they can choose not to borrow.

The BIG PROBLEM is the US Government's borrowed debt. Right now they/we pay about $400b a year just in interest on that $14T, if the interest rates go up that becomes $1-trillion or more, then we are just like Greece, no way to pay for Medicare or SS.

We need the DC coxuckers to wise the fuck up and get busy solving the entitlement and fiscal mess.

How are they supposed to solve it when to do so means the swift end of their career?
Americans are very good at sacrificing someone else for the betterment of ourselves - but not so good at sacrificing ourselves for the betterment of everyone else.

 

[JimH52]

All this Debt Limit Fear Mongering stuff really has gotten to be ridiculous. The State of Minnesota shut their Government down and guess what?...They're still here. They didn't disappear from the face of Earth in a gigantic ball of fire. In fact,they just got a deal done and are now re-opening their Government. So their shutdown was a good thing in the end. We should not raise the Debt Limit. Not raising it will force them to make big cuts immediately. They will have no choice. And lets face it,force is the only way you're going to get our Government to make real cuts.

The Nation will not collapse and disappear from the face of Earth if the Debt Limit is not raised. That's all just Fear Mongering B.S. They do this kind of Fear Mongering right before their Wars and spending debacles like Stimulus Packages. Fear is their biggest weapon in getting what they want. The U.S. really will still be here after not raising the Debt Limit. Seriously,it's true. All it will do is force their hand in making real cuts. So don't let fear rule your life. Don't believe their hype. Don't raise the Debt Limit. The Sky really wont Fall.

So how many debt payments did the State of Minnesota miss paying to China? Or how many Bond holders did not get their payment during this period? Did anyone in the state lose their Social Security payments?

Get a Life and Get a Brain. I honestly hope that you have a locked in mortgage payment, because if you don't and we default, all interest rates will be rising. We will fall again into a recession or worse, and a 9.2 unemployment will look inviting.

You and Michelle Bachmann needs to "Get a Life."

 

[kyzr]

I don't know about anyone else, but it will be pretty catastrophic to anyone living paycheck to paycheck, for their interests rates to go up...in some places 70% of the population owe more on their homes than they are worth.
Causing damage to the world's largest economy isn't something you toy with, period.

Its not the individual's interest rates that are the concern, they can choose not to borrow.

The BIG PROBLEM is the US Government's borrowed debt. Right now they/we pay about $400b a year just in interest on that $14T, if the interest rates go up that becomes $1-trillion or more, then we are just like Greece, no way to pay for Medicare or SS.

We need the DC coxuckers to wise the fuck up and get busy solving the entitlement and fiscal mess.

How are they supposed to solve it when to do so means the swift end of their career?
Americans are very good at sacrificing someone else for the betterment of ourselves - but not so good at sacrificing ourselves for the betterment of everyone else.

So true. I remember in 1993 when McConnell waved goodbye at a lot of young idealistic senators who voted to raise taxes. What happened was prosperity and a surplus.

Now they have the same decision, to touch the 3rd rail or let the entitlement system collapse. They all have pensions and free healthcare. Thats a very easy vote. Medicare is now bankrupt, SS might be next.

If I was that GOP guy in NY-23 I'd show a similar commercial except the dems would be tossing granny over the cliff because Medicare will be bankrupt unless its fixed.

 

[Brutus]

You and Michelle Bachmann needs to "Get a Life."

well raising the debt ceiling will only make the crisis worse the next time as long as we have so many Democrats around. BO had 2 communist parents and acts accordingly. I say shut it down now and face the music now.

 

[Brutus]

The Nation will not collapse and disappear from the face of Earth if the Debt Limit is not raised. Don't raise the Debt Limit. The Sky really wont Fall.

but no one said our nation would disappear, it would just be pretty darn expensive. The issue is do we face the music now or let the debt and severity of the next crisis build.

If this crisis costs 3 trillion in extra costs maybe its not such a big deal because that is the amount of new debt BO wants. Anyone got an answwer to that?

 

[kyzr]

The Nation will not collapse and disappear from the face of Earth if the Debt Limit is not raised. Don't raise the Debt Limit. The Sky really wont Fall.

but no one said our nation would disappear, it would just be pretty darn expensive. The issue is do we face the music now or let the debt and severity of the next crisis build.

If this crisis costs 3 trillion in extra costs maybe its not such a big deal because that is the amount of new debt BO wants. Anyone got an answer to that?

This crisis doesn't just cost $3T, Medicare has $51T in unfunded liabilities. The answer to entitlements is to throw out everyone who didn't pay in. Then to put limits on benefits that will make the system workable, such as co-pays and premiums.

If we don't fix Medicare it will be bankrupt and gone.

 

[C_Clayton_Jones]

Don't Raise The Debt Limit. The Sky Really Wont Fall...

Don’t tell that to the GOP – it’s currently their political weapon of choice.

 

[kyzr]

Don't Raise The Debt Limit. The Sky Really Wont Fall...

Don’t tell that to the GOP – it’s currently their political weapon of choice.

Its a circular GOP firing squad. If the US economy tanks the GOP supporters will lose more money than Obama's poor folk. Then the GOP will get the blame (see 1995) then the system collapses.