Republicans Threaten To Stifle Business

[Star]

Republicans Threaten To Stifle Business "...while corporate America wants to head off market turmoil and the economic uncertainty that debt-limit drama might bring, Republicans want to use the threat of a debt-limit standoff to extract the biggest spending cuts possible."


Get Rid Of The Debt Ceiling - Business Insider

Joe Weisenthal | Nov. 11, 2012

<snip>​

...there is one change that could be made without hurting anyone: Getting rid of the debt ceiling.​

The debt ceiling is a stupid, arbitrary rule that says Congress has to authorize going into more debt, beyond just the vote on the budget itself. It's the #1 source of vulnerability for the U.S. government. Because the U.S. can create its own money, there's zero chance of default, unless a committed opposition uses the debt ceiling as leverage to go too far. When S&P downgraded the U.S. credit rating after the last debt ceiling debacle (a downgrade, by the way, which had zero effect on anything) it identified that the biggest threat to the U.S. was politics, not actual debt loads. Eliminating the debt ceiling would defuse this one political vulnerability.​

<snip>​

This argument might still hold some water if not for the fact that the sequester (the future spending cuts agreed to in debt ceiling fight) is loathed by both parties. Everybody now hates what the Boehner Rule hath wrought.​

In the best of times the Debt Ceiling is a pointless technical vote. In the worst of times, it's an opportunity for one side to hold the nation's economy hostage. At no time, is it a useful mechanism for constraining spending, or having a debate on anything.​

With the government set to debate a whole range of fiscal issues in the coming weeks (or months) no move would be more conducive to stability than getting rid of the debt ceiling. And nobody would be hurt either, which can't be said for any other change in our fiscal system.​

 

[WillowTree]

I'm sorry Star but judy can't fix stupid.

 

[jwoodie]

To say that the Debt Ceiling has not had any constraint on spending is pure conjecture. Given the voters' entitlement mentality, who is to say that our Debt would not be twice what it is today without this "technical" vote? Implicit in this article is that the amount of our National Debt is meaningless. I believe Argentina has disproven that proposition.

 

[eflatminor]

...no move would be more conducive to stability than getting rid of the debt ceiling.

Yea, because there are just too many obstacles in the way of federal spending...

 

[Mad Scientist]

Bankster Takeover of America is complete!

 

[Oddball]

To say that the Debt Ceiling has not had any constraint on spending is pure conjecture. Given the voters' entitlement mentality, who is to say that our Debt would not be twice what it is today without this "technical" vote? Implicit in this article is that the amount of our National Debt is meaningless. I believe Argentina has disproven that proposition.

Speak for yourself, comrade.

 

[jwoodie]

To say that the Debt Ceiling has not had any constraint on spending is pure conjecture. Given the voters' entitlement mentality, who is to say that our Debt would not be twice what it is today without this "technical" vote? Implicit in this article is that the amount of our National Debt is meaningless. I believe Argentina has disproven that proposition.

Speak for yourself, comrade.

Do you find that a foreign concept?

 

[mudwhistle]

To say that the Debt Ceiling has not had any constraint on spending is pure conjecture. Given the voters' entitlement mentality, who is to say that our Debt would not be twice what it is today without this "technical" vote? Implicit in this article is that the amount of our National Debt is meaningless. I believe Argentina has disproven that proposition.

Obama has gone around the debt ceiling by instituting 3 separate QEs. He hits the debt-ceiling in no time yet delays actual cuts by printing more and more money and using it to pay down some of the debt.

I think Congress needs to vote to make this practice illegal.

 

[Oddball]

Obama has gone around the debt ceiling by instituting 3 separate QEs. He hits the debt-ceiling in no time yet delays actual cuts by printing more and more money and using it to pay down some of the debt.

I think Congress needs to vote to make this practice illegal.

That would require abolition of the Fed...Not gonna happen.

 

[Katzndogz]

We will reach the debt ceiling when China cuts us off. Just like you will increase your debt ceiling by getting more and more credit cards, until they cut you off. Greece reached it's debt ceiling when the EU said no.

 

[Oddball]

We will reach the debt ceiling when China cuts us off. Just like you will increase your debt ceiling by getting more and more credit cards, until they cut you off. Greece reached it's debt ceiling when the EU said no.

The Fed isn't going to cut anyone off...It'd mean the end of their fiat "money" counterfeiting scam, and we can't have any of that.

 

[mudwhistle]

Obama has gone around the debt ceiling by instituting 3 separate QEs. He hits the debt-ceiling in no time yet delays actual cuts by printing more and more money and using it to pay down some of the debt.

I think Congress needs to vote to make this practice illegal.

That would require abolition of the Fed...Not gonna happen.

The system wasn't designed for someone like Obama.

There's a certain amount of trust built in that ends up being a weakness. Middle Eastern countries and communists have been talking among themselves about these weaknesses for decades. Electing a POS like Obama cancels out many of the protections we once had.

 

[PredFan]

Republicans Threaten To Stifle Business "...while corporate America wants to head off market turmoil and the economic uncertainty that debt-limit drama might bring, Republicans want to use the threat of a debt-limit standoff to extract the biggest spending cuts possible."


Get Rid Of The Debt Ceiling - Business Insider

Joe Weisenthal | Nov. 11, 2012

<snip>​

...there is one change that could be made without hurting anyone: Getting rid of the debt ceiling.​

The debt ceiling is a stupid, arbitrary rule that says Congress has to authorize going into more debt, beyond just the vote on the budget itself. It's the #1 source of vulnerability for the U.S. government. Because the U.S. can create its own money, there's zero chance of default, unless a committed opposition uses the debt ceiling as leverage to go too far. When S&P downgraded the U.S. credit rating after the last debt ceiling debacle (a downgrade, by the way, which had zero effect on anything) it identified that the biggest threat to the U.S. was politics, not actual debt loads. Eliminating the debt ceiling would defuse this one political vulnerability.​

<snip>​

This argument might still hold some water if not for the fact that the sequester (the future spending cuts agreed to in debt ceiling fight) is loathed by both parties. Everybody now hates what the Boehner Rule hath wrought.​

In the best of times the Debt Ceiling is a pointless technical vote. In the worst of times, it's an opportunity for one side to hold the nation's economy hostage. At no time, is it a useful mechanism for constraining spending, or having a debate on anything.​

With the government set to debate a whole range of fiscal issues in the coming weeks (or months) no move would be more conducive to stability than getting rid of the debt ceiling. And nobody would be hurt either, which can't be said for any other change in our fiscal system.​

Do you ever have a thought of your own?

 

[Oddball]

Obama has gone around the debt ceiling by instituting 3 separate QEs. He hits the debt-ceiling in no time yet delays actual cuts by printing more and more money and using it to pay down some of the debt.

I think Congress needs to vote to make this practice illegal.

That would require abolition of the Fed...Not gonna happen.

The system wasn't designed for someone like Obama.

There's a certain amount of trust built in that ends up being a weakness. Middle Eastern countries and communists have been talking among themselves about these weaknesses for decades. Electing a POS like Obama cancels out many of the protections we once had.

The system wasn't designed for anyone with any sense of fiscal responsibility, which excludes both the remocrats and depublicans....They'll all continue raising the debt ceiling to feed their insatiable addiction to spending, until the inevitable crash and burn.

 

[Katzndogz]

That would require abolition of the Fed...Not gonna happen.

The system wasn't designed for someone like Obama.

There's a certain amount of trust built in that ends up being a weakness. Middle Eastern countries and communists have been talking among themselves about these weaknesses for decades. Electing a POS like Obama cancels out many of the protections we once had.

The system wasn't designed for anyone with any sense of fiscal responsibility, which excludes both the remocrats and depublicans....They'll all continue raising the debt ceiling to feed their insatiable addiction to spending, until the inevitable crash and burn.

But then, it will be someone else's fault. Greece blames the EU and Germany, the US will blame China.

 

[Oddball]

The system wasn't designed for someone like Obama.

There's a certain amount of trust built in that ends up being a weakness. Middle Eastern countries and communists have been talking among themselves about these weaknesses for decades. Electing a POS like Obama cancels out many of the protections we once had.

The system wasn't designed for anyone with any sense of fiscal responsibility, which excludes both the remocrats and depublicans....They'll all continue raising the debt ceiling to feed their insatiable addiction to spending, until the inevitable crash and burn.

But then, it will be someone else's fault. Greece blames the EU and Germany, the US will blame China.

Pffft....They'll blame Bush.

 

[mudwhistle]

A dishonest media makes all of this possible. The watchdogs look the other way when their buds are abusing their powers and focus on the opposition when they're trying to stop it.

Again......the media is the real enemy, not the Democrats.

They only do this because they can.

I think if the shoe were on the other foot you'd get politicians in the GOP in a few years that are exactly like these creeps in the Democratic Party.