then prove it google....show me how we won't default if our debt ceiling is not raised by this august....let's see the numbers....
as far as raising it to the 18 trillion....for what period is their estimate on needing the extra 4 trillion? is it over 10 years? is it till 2012? 2016?
i agree the 18 trillion limit is not needed to settle what we have spent through august of this year....
but i also agree that the economic and market chaos would be less likely if the usa set a higher limit, where every three months they are not looking to raise the debt limit through nickle and diming it....our businesses would be on a roller coaster every few months or so, with no stability to look forward to....
as long as significant cuts are made to the future budgets, i'm ok in raising the debt ceiling....
our over spending the budget did not arise over night....it took 10 years to get us where we are running with deficit spending and it will take 10 years to get us back on track, at least! as the saying goes, it is so much easier to gain weight than to lose it.....same with budgets.
I see being irrational about this will ONLY HURT US MORE....and if we default on anything, it will hurt every single one of us, and every business out there.....and YES, I know this and believe this.
then prove it google....show me how we won't default if our debt ceiling is not raised by this august....let's see the numbers....
if I may; I have read that the gov. takes in enough revenue and can shift monies from other prgms projects etc. to cover the debt and interest payments due, a default is if I get this right when we actually don't cover those obligations.
what will happen apparently is if we go past august 2 we will have to start shuffling money around, maybe SS checks will be held up and other direct spends we make. And that of we believe that is really the drop dead date, it has been changed since feb. and I
think we have hit this same 'drop dead' date in decades past and didn't default.
yes, they have done the two step shuffle and used pension funds to pay their bills and THAT is unacceptable to me....
this has the same effect on business as businesses worrying about whether their taxes will go up or not....we MUST give them some stability in gvt....as we had to extend the tax cuts for several years......
and anyway, i heard their shffling has run out, no more funds to steal from....but maybe you are right and they will find someone else to HURT and steal from, in order to pay the banks, and countries we borrowed from, our interest payments on the loans.
Having our credit rating lowered is THE WORST that can happen to us as a country, and most certainly, while in a recession....i am not willing to let this happen to us, nor should ANY OF YOU be willing to let this happen to us.
Raising the limit to cover what we have spent already, is the only ETHICAL thing to do.
This does not mean we do not need to cut our spending...we do need to cut our spending, but NOT in a willy nilly manner...it needs to be done with thought and with facts on how each cut will affect us down the road.