Question about the debt ceiling

[eflatminor]

Our President is really up in arms lately about the debt ceiling. He's adamant about it: "America cannot afford another debate with this Congress about whether or not they should pay the bills they’ve already racked up."

My question is if he really feels this way, why did he vote against raising it when he was in the Senate?

[ame=http://www.youtube.com/watch?v=8mZ39Zet97Q]"O" the Debt Ceiling - YouTube[/ame]

 

[jwoodie]

Let's put it another way: What if someone has stolen your checkbook, writes checks on your account and demands that you honor those checks? That is exactly what has happened during the last four years. The Democrats have refused to pass a federal budget, instead rolling over the $800 billion "bailout" into additional spending each year. The assertion that Congress would be refusing to "pay its debts" if it doesn't raise the debt ceiling is entirely bogus, since it hasn't officially authorized those expenditures.

The correct action by Congress would be to refuse authorization of additional spending until a budget is passed. It is a violation of the Constitution to assign budgetary authority to the Executive Branch by giving the President a blank check in this manner.

 

[onecut39]

Let's put it another way: What if someone has stolen your checkbook, writes checks on your account and demands that you honor those checks? That is exactly what has happened during the last four years. The Democrats have refused to pass a federal budget, instead rolling over the $800 billion "bailout" into additional spending each year. The assertion that Congress would be refusing to "pay its debts" if it doesn't raise the debt ceiling is entirely bogus, since it hasn't officially authorized those expenditures.

The correct action by Congress would be to refuse authorization of additional spending until a budget is passed. It is a violation of the Constitution to assign budgetary authority to the Executive Branch by giving the President a blank check in this manner.

Sorry, all this pending was authorized by the congress. You will have to start from another premise.

 

[Skull Pilot]

[youtube]ydZTHPkOnvE[/youtube]

 

[SniperFire]

Let's put it another way: What if someone has stolen your checkbook, writes checks on your account and demands that you honor those checks? That is exactly what has happened during the last four years. The Democrats have refused to pass a federal budget, instead rolling over the $800 billion "bailout" into additional spending each year. The assertion that Congress would be refusing to "pay its debts" if it doesn't raise the debt ceiling is entirely bogus, since it hasn't officially authorized those expenditures.

The correct action by Congress would be to refuse authorization of additional spending until a budget is passed. It is a violation of the Constitution to assign budgetary authority to the Executive Branch by giving the President a blank check in this manner.

Sorry, all this pending was authorized by the congress. You will have to start from another premise.

So was the current debt ceiling.

Is one legislation any less valid than the other?

 

[eflatminor]

Sorry, all this pending was authorized by the congress.

That was true when Obama was a Senator. So again I ask, why did he vote against raising the debt ceiling then? And why should we believe him now?

 

[onecut39]

Sorry, all this pending was authorized by the congress.

That was true when Obama was a Senator. So again I ask, why did he vote against raising the debt ceiling then? And why should we believe him now?

I guess for the same reason Republicans believe Paul Ryan, even though he voted for every budget busting proposal put forth during the Bush administration

 

[onecut39]

Let's put it another way: What if someone has stolen your checkbook, writes checks on your account and demands that you honor those checks? That is exactly what has happened during the last four years. The Democrats have refused to pass a federal budget, instead rolling over the $800 billion "bailout" into additional spending each year. The assertion that Congress would be refusing to "pay its debts" if it doesn't raise the debt ceiling is entirely bogus, since it hasn't officially authorized those expenditures.

The correct action by Congress would be to refuse authorization of additional spending until a budget is passed. It is a violation of the Constitution to assign budgetary authority to the Executive Branch by giving the President a blank check in this manner.

Sorry, all this pending was authorized by the congress. You will have to start from another premise.

So was the current debt ceiling.

Is one legislation any less valid than the other?

No. They are of equal validity. Your point?

 

[TakeAStepBack]

Sorry, all this pending was authorized by the congress.

That was true when Obama was a Senator. So again I ask, why did he vote against raising the debt ceiling then? And why should we believe him now?

I guess for the same reason Republicans believe Paul Ryan, even though he voted for every budget busting proposal put forth during the Bush administration

Translation: Hyperpartisanship

 

[SniperFire]

Sorry, all this pending was authorized by the congress. You will have to start from another premise.

So was the current debt ceiling.

Is one legislation any less valid than the other?

No. They are of equal validity. Your point?

The point is you are clueless about 'pending' authorization to be the trump card.

 

[Katzndogz]

We have a debt ceiling. Everyone has a debt ceiling. We will hit that debt ceiling when other countries stop lending.

 

[eflatminor]

Sorry, all this pending was authorized by the congress.

That was true when Obama was a Senator. So again I ask, why did he vote against raising the debt ceiling then? And why should we believe him now?

I guess for the same reason Republicans believe Paul Ryan, even though he voted for every budget busting proposal put forth during the Bush administration

So, what is the reason? I'm not trying to defend anyone, I'm just wondering why Obama has had such a remarkable change of heart...and asking why we should believe what he says now, but not what he said then?

 

[g5000]

Let's put it another way: What if someone has stolen your checkbook, writes checks on your account and demands that you honor those checks? That is exactly what has happened during the last four years. The Democrats have refused to pass a federal budget, instead rolling over the $800 billion "bailout" into additional spending each year. The assertion that Congress would be refusing to "pay its debts" if it doesn't raise the debt ceiling is entirely bogus, since it hasn't officially authorized those expenditures.

Yes it has. Don't speak out of your ass.

Congress has appropriated the spending through continuing resolutions. The current six month CR has appropriated spending at deficit levels through March.

 

[zeke]

Funny shit. Run up a bill then not pay it. And you all think this is a good thing. You all run your personal finances like that? Just curious. I was always taught to pay my debts and obligations.

Hey, why don't one of you economists tell me what you think the current deficit is gonna do to America and the world, in the next 12 months, that will be worse than defaulting on our debts and obligations.

This should be a riot.

 

[SniperFire]

zeke, should you not perhaps be better off sticking to the 'sperm' thread?

 

[zeke]

zeke, should you not perhaps be better off sticking to the 'sperm' thread?

In other words snippy, you haven't a clue how to answer what is a legit question. Thanks for running your fuking mouth. You always add so much real insight and observations. LMAO.

 

[eflatminor]

Funny shit. Run up a bill then not pay it. And you all think this is a good thing.

It was Senator Obama that thought it was a good thing. Why is that?

You all run your personal finances like that? Just curious. I was always taught to pay my debts and obligations.

No, I live within my means. Crazy, I know.

Hey, why don't one of you economists tell me what you think the current deficit is gonna do to America and the world, in the next 12 months, that will be worse than defaulting on our debts and obligations.

Actually, there is NO CHANCE of default. We have plenty of revenue to cover our debt obligations. All other other spending? Not so much.

This should be a riot

Yea, that's what I'm worried about.

 

[eflatminor]

Funny shit. Run up a bill then not pay it. And you all think this is a good thing.

It was Senator Obama that thought it was a good thing. Why is that?

Sup Zeke?

 

[jwoodie]

Let's put it another way: What if someone has stolen your checkbook, writes checks on your account and demands that you honor those checks? That is exactly what has happened during the last four years. The Democrats have refused to pass a federal budget, instead rolling over the $800 billion "bailout" into additional spending each year. The assertion that Congress would be refusing to "pay its debts" if it doesn't raise the debt ceiling is entirely bogus, since it hasn't officially authorized those expenditures.

The correct action by Congress would be to refuse authorization of additional spending until a budget is passed. It is a violation of the Constitution to assign budgetary authority to the Executive Branch by giving the President a blank check in this manner.

Sorry, all this pending was authorized by the congress. You will have to start from another premise.

Sorry, continuing resolutions are not a Constitutional substitute for a budget.