Raising the Debt Ceiling to get a balanced budget is like Whoring for Virginity.

[miami_thomas]

What point is it to raise the debt ceiling to get a balanced budget amendment? If you don’t raise the debt ceiling, you have to balance the budget. I think we are just getting more punting. I know everyone says that if we do not raise the debt ceiling our interest rates will go up. I know they say if we do raise the debt ceiling with no fixes the interest rates go up. I say don’t raise it. If the rates go up it does not matter as far as the federal government goes as they won’t be borrowing any money. It is time to balance and not raising it will force the budget to be balanced. If we do not want taxes, don’t raise it and cuts will have to be made. Simple as that just stop punting the ball down the road. As far that the republicans being blamed I don’t see the recent poll as saying they will be blamed. The same poll asks how many people think we should raise it and 70% said no. Then the same poll asks who will be responsible and it says the republicans. I think that is saying I don’t want the ceiling raised and the republicans will be the ones to stop it from happening. I think it is spin to make it look bad.

 

[8537]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

 

[JakeStarkey]

miami_thomas fails to understand the context.

 

[traveler52]

What point is it to raise the debt ceiling to get a balanced budget amendment? If you don’t raise the debt ceiling, you have to balance the budget. I think we are just getting more punting. I know everyone says that if we do not raise the debt ceiling our interest rates will go up. I know they say if we do raise the debt ceiling with no fixes the interest rates go up. I say don’t raise it. If the rates go up it does not matter as far as the federal government goes as they won’t be borrowing any money. It is time to balance and not raising it will force the budget to be balanced. If we do not want taxes, don’t raise it and cuts will have to be made. Simple as that just stop punting the ball down the road. As far that the republicans being blamed I don’t see the recent poll as saying they will be blamed. The same poll asks how many people think we should raise it and 70% said no. Then the same poll asks who will be responsible and it says the republicans. I think that is saying I don’t want the ceiling raised and the republicans will be the ones to stop it from happening. I think it is spin to make it look bad.

So, what your saying is that the Great Ronnie God...The Rectum himself was a whore? Ronnie raised the Debt Ceiling Seventeen (17) Times while in Office. The shrub was a whore as well? georgie porgie raised the Debt Ceiling Seven (07) Times.

Good on you for admitting what I've known all along.l

 

[miami_thomas]

So, what your saying is that the Great Ronnie God...The Rectum himself was a whore? Ronnie raised the Debt Ceiling Seventeen (17) Times while in Office. The shrub was a whore as well? georgie porgie raised the Debt Ceiling Seven (07) Times.

Good on you for admitting what I've known all along.l

Look I don't care if it is the Dems or the GOP we have to stop spending ourselves into oblivion.

 

[Soggy in NOLA]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

The Constitution says we must deficit spend? Who knew?

 

[miami_thomas]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

I know that it is being raised to pay the bills now. And this congress was put on the spot to pass this budget since last years congress could not pass a budget.

Borrowing and Taxing falls is the responsibility of congress. The constitution says we will pay our debts and we will. We just have to cut other things and live within our means.

 

[Soggy in NOLA]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

Next no doubt we'll get an insane lecture as to why to ensure our AAA credit rating we must borrow more money.

 

[miami_thomas]

I never understand the statement we can not have a balanced budget. Are we to believe the only way the US can continue is to be in the negative every single year? Are we to borrow forever and never decrease the debt? You can not continue borrowing on the future regardless of the amount. Eventually people will start to realize that you are getting to the point you will never be able to pay your debt and stop lending us money. It is a matter of when not if. The only real question is do we wait until we are so far in debt that we could never pay it back or do we stop ourselves now while it is bad but not irreversible?

 

[8537]

I never understand the statement we can not have a balanced budget.

of course we can have a balanced budget. We've had them, in fact.

That doesn't mean that an amendment to the Constitution requiring one has any chance of passing, nor does it mean Congress would use it.

Are we to believe the only way the US can continue is to be in the negative every single year? Are we to borrow forever and never decrease the debt? You can not continue borrowing on the future regardless of the amount. Eventually people will start to realize that you are getting to the point you will never be able to pay your debt and stop lending us money.

So when interest rates start to increase we'll know we've reached those limits.

 

[8537]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

Next no doubt we'll get an insane lecture as to why to ensure our AAA credit rating we must borrow more money.

Lecture from me? How about from Standard & Poors and Moody? They both realize that this congress needs to pay the bills this congress passed in order to maintain a AAA rating. If it doesn't pay its bills, our credit rating will rightfully go down.

 

[JakeStarkey]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

The Constitution says we must deficit spend? Who knew?

It does not say we must not borrow.

 

[8537]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

The Constitution says we must deficit spend? Who knew?

What the fuck are you talking about?

 

[Jarhead]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

The Constitution says we must deficit spend? Who knew?

It does not say we must not borrow.

No it doesnt. But logic says that when you need to borrow to pay off your debt, something is seriously wrong.
Persoanlly, I do not believe we need to borrow to pay our debt...and I am against the whole idea of more borrowing.
We need to immediately cut spending and all AMericans, myself included, will need to feel the pain for our overspending.

 

[miami_thomas]

I never understand the statement we can not have a balanced budget.

of course we can have a balanced budget. We've had them, in fact.

That doesn't mean that an amendment to the Constitution requiring one has any chance of passing, nor does it mean Congress would use it.

Are we to believe the only way the US can continue is to be in the negative every single year? Are we to borrow forever and never decrease the debt? You can not continue borrowing on the future regardless of the amount. Eventually people will start to realize that you are getting to the point you will never be able to pay your debt and stop lending us money.

So when interest rates start to increase we'll know we've reached those limits.

So your suggestion is we should wait until then and then do something. By then it is already to late that is when everything starts to fall apart. If it is an amendment to the constitution, then congress and the president would have no choice.

 

[8537]

I never understand the statement we can not have a balanced budget.

of course we can have a balanced budget. We've had them, in fact.

That doesn't mean that an amendment to the Constitution requiring one has any chance of passing, nor does it mean Congress would use it.

Are we to believe the only way the US can continue is to be in the negative every single year? Are we to borrow forever and never decrease the debt? You can not continue borrowing on the future regardless of the amount. Eventually people will start to realize that you are getting to the point you will never be able to pay your debt and stop lending us money.

So when interest rates start to increase we'll know we've reached those limits.

So your suggestion is we should wait until then and then do something.

I didn't say that was my suggestion - I said that's how we'll know. That's how the market works.

By then it is already to late that is when everything starts to fall apart. If it is an amendment to the constitution, then congress and the president would have no choice.

First of all, an amendment to the constitution has zero chance of passing.
Second, if it is based on % of GDP it's simply unworkable - are you going to base next year's spending on a % of last year's GDP? What happens when revenues collapse during a recession?

Thirdly, a certain amount of deficit spending during a recession is wholly appropriate.

Finally, any amendment would have the same escape clause as Paygo - emergency spending - and every single bill would simply be deemed an emergency.

 

[miami_thomas]

First of all, an amendment to the constitution has zero chance of passing.
Second, if it is based on % of GDP it's simply unworkable - are you going to base next year's spending on a % of last year's GDP? What happens when revenues collapse during a recession?

Thirdly, a certain amount of deficit spending during a recession is wholly appropriate.

Finally, any amendment would have the same escape clause as Paygo - emergency spending - and every single bill would simply be deemed an emergency.

I'm sure there would be work around but I never metioned the amendment. Actaully I said raising the debt ceiling to pass an amendment would be plain dumb. I just said don't raise the debt ceiling to force a balanced budget.

 

[JakeStarkey]

The debt ceiling has to be raised. Ronnie did it 17 times, so I am not to concerned about the far right of my party squealing about it. Obama seems to be forcing the responsible GOP leadership (which, at the moment, seems to be only Boehner) toward the center and sensibility. We need a historic long term deal that slashes massive spending, makes all Americans share the tax burden (yes, that means the poor, too), and an end to hidden pork.

 

[Google]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

The debt limit is being raised because the US Federal Government spends on average $200 billion dollars a month more than it takes in revenue. Why is this so difficult for liberals to comprehend?

Where in the Constitution does it require that Congress not have a balanced budget or would prevent it? Where in the Constitution does it prohibit a capping spending? Enlighten me!!!

You are talking out of your ass.

 

[8537]

The debt ceiling isn't being raised to pay for future bills. It's being raised to pay the bills this congress has already agreed to.

and a balanced budget amendment is pure folly.

and anyone who has a passing familiarity with the Constitution and the rules of congress would know that a spending cap is also pure folly.

The debt limit is being raised because the US Federal Government spends on average $200 billion dollars a month more than it takes in revenue. Why is this so difficult for liberals to comprehend?

So we, on average, run a 2.4T deficit each year? Eh, no.

Where in the Constitution does it require that Congress not have a balanced budget or would prevent it? Where in the Constitution does it prohibit a capping spending? Enlighten me!!!

Nothing in the Constitution requires Congress not to have a balanced budget. nothing in the Constitution requires the Congress to have an unbalanced budget.

Capping spending is fine - for a specific Congress. So if this Congress would like to make a rule that spending can only be 20% of GDP next year, it is free to do so - and pass a budget accordingly.

However, this Congress can not bind future Congresses to its spending limits, caps, or priorities. The next Congress has no legal responsibility to continue the practices of this one.

You are talking out of your ass.