The Debt Ceiling

Discussion in 'Politics' started by smchugh, Apr 11, 2011.

  1. smchugh
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    smchugh Rookie

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    In the near future the debt of the United States will reach its approved limit. The raising of the debt ceiling requires a vote by Congress. The current spending of the government will cause this to be reached very soon.

    President Obama has stated to Congress that he wasnts a clean bill delivered to him regarding the raising of the debt ceiling. This means that there are no other attachments to the bill such as tax raises or spending cuts.

    Although it is important that America's credit standing is upheld, it is equally important that real and responsible action is taken regarding our nation's budget. Simply raising the debt ceiling allows the White House and Demorcratic Senate to spend more. There should be action which acts as proof that the government is moving in the direction of reducing spending and the budget deficit.

    What specific actions should be attached to the bill which would ultimately lead to responsible solutions to our current budget deficit problem?
     
  2. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Actually, I think t hey've already spent past it.
     
  3. smchugh
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    smchugh Rookie

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    The debt ceiling is currently set at $14.294 trillion and the debt is currently at 14.287 trillion so there is still a little room to spare.
     
  4. washamericom
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    washamericom Gold Member

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    how about an attachment to the bill whereby you have to show your birth certificate ?
     
  5. kyzr
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    kyzr Gold Member

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    Like that idea. Riders to include:
    1. BO's certified birth certificate
    2. Balanced Budget Amendment or equivalent
    3. Bill to go after off-shore tax cheats
    4. Bill to continue cutting spending (NPR, Planned Parenthood, etc.)
    5. Bill to implement a new "Grace Commission" to reduce size & duplication in the government and reduce Medicare fraud.
    6. Bill to bring US troops home from Europe
    7. Bill to eliminate foreign aid
    8. Bill to tie Corporate Welfare to job creation
    9. Bill to make utilities pay for wasted fuel costs instead of passing costs for wasted fuel to consumers. (Japan wastes 10% the US wastes 70%)
     
  6. JimH52
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    JimH52 Gold Member

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    It will be interesting to see if the GOP tries to throw the Government into default. What would happen to the interest on the debt if we slipped from AAA to AA. That would cause the interest rate to increase and, of course, the debt to increase. Not unlike a tax break for the wealthy, I would say. Let's see what happens.
     
  7. Ernie S.
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    Ernie S. Platinum Member

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    We more or less have to raise it if we are to honor our obligations, but I would like to see spending reduced by an equal or greater amount.
    Raise the debt ceiling 100 billion? Cut 100 billion somewhere.
     
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  8. kyzr
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    kyzr Gold Member

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    The problem is the DC whores like to spend money, and the only money left would be the top 1% of incomes that own 90% of everything.
     
  9. JFK_USA
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    JFK_USA Gold Member

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    Have to pass it. Think the economy is bad now? Don't raise the debt ceiling, and our country goes into the tank.
     
  10. kyzr
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    kyzr Gold Member

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    Its like the US is on a train speeding toward a bridge that's out, and it has a bomb fastened to the brake, you need to slow the train, but not too fast or too slow. We need to cut spending and reduce the Debt to save the economy. So the debt ceiling needs to be raised, but to a controlled level with lots of spending cuts, such as Paul Ryan's budget (with Clinton era tax increases thrown in)
     

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