So We Need A Debt Ceiling?

Discussion in 'Politics' started by The Rabbi, Jul 31, 2011.

  1. The Rabbi
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    The Rabbi Diamond Member

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    I am not sure where the debt ceiling came from. It is not in the Constitution.
    Moody's suggested the US would be better off without it. The WSJ editorial page points out that of all the things the debt celing does, controlling debt is not one of them.
    Would we be better off not having a debt ceiling and concentrating on getting balanced budgets?
     
  2. editec
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    editec Mr. Forgot-it-All

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    MY GOD!

    We agree on something.

    Clearly not all the miracles are in the Bible!
     
  3. The Rabbi
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    The Rabbi Diamond Member

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    Who says I think we shouldn't havr a debt ceiling? No one.
    But I am open to arguments for and against.
     
  4. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Debt ceilings are preposterous.
     
  5. Truthmatters
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    Truthmatters BANNED

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    Its pretty easy to look up the information and history about the debt limit why did you never just invest some time in learning about it OP?
     
  6. LordBrownTrout
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    LordBrownTrout Gold Member

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    A debt ceiling is supposed to show some sort of semblance to accountability and responsibility, neither of which exist anymore from our elected officials. There were two major events, creation of the fed, jumping off the gold standard, and now, our inability to live within our means, that will likely lead us into perilous waters within the next 5 or so years. We're right at the precipice now.
     
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  7. Truthmatters
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    Truthmatters BANNED

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  8. Trajan
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    Trajan conscientia mille testes

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    agreed.
     
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    Debt deal a setback for Obama?...
    :eusa_eh:
    ANALYSIS: Obama suffers political setback in US debt deal
    Thu, Aug 04, 2011 - US President Barack Obama suffered a defeat in the battle over raising the US debt limit that may have repercussions for his efforts to restore growth to the US economy and win re-election next year.
    See also:

    What were two Republicans thinking, calling Obama 'tar baby' and 'boy'?
    August 3, 2011 - Republican Rep. Doug Lamborn of Colorado and commentator Pat Buchanan, a former candidate for president, both apologized Wednesday for using racially charged terms to refer to Obama.
     
  10. editec
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    editec Mr. Forgot-it-All

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    One man's debt ceiling is another man's accounts recievables floor.
     

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