Abolish the debt ceiling

[oldfart]

It appears that the only other nation on the face of the earth that has a debt ceiling is Denmark. I see no useful purpose that it serves. If we want to cut spending, we cando that in the budget. The Constitution says that the federal govenment can on spend what Congress has authorized. Section 4 of the Fourteenth Amendment holds that the debt of the United States is "not to be questioned", whatever that means.

So folks, why not just abolish the debt ceiling? If Congress approves a budget, it could simultaneously approve paying for it.

 

[The Infidel]

If Congress approves a budget

That'll be the day...

 

[C_Clayton_Jones]

It appears that the only other nation on the face of the earth that has a debt ceiling is Denmark. I see no useful purpose that it serves. If we want to cut spending, we cando that in the budget. The Constitution says that the federal govenment can on spend what Congress has authorized. Section 4 of the Fourteenth Amendment holds that the debt of the United States is "not to be questioned", whatever that means.

So folks, why not just abolish the debt ceiling? If Congress approves a budget, it could simultaneously approve paying for it.

The ‘debt ceiling’ is about politics, not responsible economic policy.

Get rid of it indeed.

 

[The Infidel]

Cut the credit cards in half

 

[Kevin_Kennedy]

Since they just raise it every time they come up against it you're right that they might as well just get rid of it.

 

[Rshermr]

Yup, it needs to be eliminated. It serves no purpose, except to prove to the rest of the world, and the credit rating agencies, that you can not trust the US Government. Since debt is not created by the debt limit, but is created by congress, then any new projects and commitments by our government are subject to the whims of votes of congress AFTER the fact when the debt ceiling needs to be raised to cover costs of legislation that has already been passed. That is, congress can incur new debt and then vote to not pay for it.
The only other value of a debt limit is to provide congress with a political football to play with. But perhaps now, the negative ramifications are apparent enough to the voting public to dull the the desires of unscrupulous politicians to try to use the debt ceiling for partisan purposes.

 

[Politico]

Wow amazing how many people have no clue what the debt ceiling is. Actually looking at the boner everyone pulled on election day no it's not.

 

[Rshermr]

Wow amazing how many people have no clue what the debt ceiling is. Actually looking at the boner everyone pulled on election day no it's not.

Who do you feel is unable to understand what the debt ceiling is? Pretty simple concept.

 

[EdwardBaiamonte]

It appears that the only other nation on the face of the earth that has a debt ceiling is Denmark. I see no useful purpose that it serves. If we want to cut spending, we cando that in the budget. The Constitution says that the federal govenment can on spend what Congress has authorized. Section 4 of the Fourteenth Amendment holds that the debt of the United States is "not to be questioned", whatever that means.

So folks, why not just abolish the debt ceiling? If Congress approves a budget, it could simultaneously approve paying for it.

The ‘debt ceiling’ is about politics, not responsible economic policy.

Get rid of it indeed.

The debt ceiling is about living within our means so we don't end up like Greece you perfect 1000% liberal idiot!!!

 

[Dont Taz Me Bro]

It appears that the only other nation on the face of the earth that has a debt ceiling is Denmark. I see no useful purpose that it serves. If we want to cut spending, we cando that in the budget. The Constitution says that the federal govenment can on spend what Congress has authorized. Section 4 of the Fourteenth Amendment holds that the debt of the United States is "not to be questioned", whatever that means.

So folks, why not just abolish the debt ceiling? If Congress approves a budget, it could simultaneously approve paying for it.

The ‘debt ceiling’ is about politics, not responsible economic policy.

Get rid of it indeed.

The debt ceiling is about living within our means so we don't end up like Greece you perfect 1000% liberal idiot!!!

Except every time we hit it they just go and raise it, so what the hell is the point? If they actually stuck to it and spent responsibly then I could see it being a useful tool, but the American people have pretty much rendered it pointless.

 

[EdwardBaiamonte]

Yup, it needs to be eliminated. .

OMG !!!!the perfect liberal airhead speaks. Why not tell the credit card companies to end the tyranny of credit limits too!!! Too many controls are just plain burdensome when we all behave quite responsibly on our own the government being the best example at only $16 trillion in debt!!

 

[Rshermr]

If you buy a car, and do not pay for it, it gets repossessed and you credit rating takes a hit.
If the us gov does not pay it's debt, as in the legislation that they have past that has costs associated with it, then the work does not get done and the governments credit rating takes a hit.
A person is limited to what they can buy based on their credit rating.
The legislature can go on passing legislation. It may cost a bit more, but they can go on doing so.
So, if you think about it just a bit, and you do not like the spending going on, then you need to elect legislators that will spend according to your beliefs. Not get to a point where the credit rating of the country is hurt. And, by the way, the debt limit goes up anyway, as it always has.
Here is a list of increases in the debt ceiling:

February 2010 - $14.294 trillion
December 2009 - $12.394 trillion
February 2009 - $12.104 trillion
October 2008 - $11.315 trillion
July 2008 - $10.615 trillion
September 2007 - $9.815 trillion
March 2006 - $8.965 trillion
November 2004 - $8.184
May 2003 - $7.384 trillion
June 2002 - $6.4 trillion
August 1997 - $5.95 trillion
March 1996 - $5.5 trillion
August 1993 - $4.9 trillion
April 1993 - $4.37 trillion
November 1990 - $4.145 trillion
October 1990 - $3.23 trillion
November 1989 - $3.1227 trillion
August 1989 - $2.87 trillion
September 1987 - $2.8 trillion
August 1987 - $2.352 trillion
July 1987 - $2.32 trillion
October 1986 - $2.3 trillion
August 1986 - $2.111 trillion
December 1985 - $2.0787 trillion
November 1985 - $1.9038 trillion
October 1984 - $1.8238 trillion
July 1984 - $1.573 trillion
May 1984 - $1.52 trillion
November 1983 - $1.49 trillion
May 1983 - $1.389 trillion
September 1982 - $1.2902
June 1982 - $1.1431 trillion
September 1981 - 1.0798 trillion
September 1981 - $999.8 billion
February 1981 - $985 billion
December 1980 - $935.1 billion
June 1980 - $925 billion
September 1979 - $879 billion
April 1979 - $830 billion
August 1978 - $798 billion
October 1977 - $752 billion
June 1976 - $700 billion
March 1976 - $627 billion
November 1975 - $595 billion
February 1975 - $577 billion
June 1974 - $495 billion
December 1973 - $475.7 billion
October 1972 - $465 billion
March 1972 - $450 billion
March 1971 - $430 billion
June 1970 - $395 billion
April 1969 - $377 billion
June 1967 - $358 billion
March 1967 - $336 billion
June 1966 - $330 billion
June 1965 - $328 billion
June 1964 - $324 billion
November 1963 - $315 billion
May 1963 - $309 billion
July 1962 - $308 billion
March 1962 - $300 billion
June 1961 - $298 billion
June 1960 - $293 billion
June 1959 - $295 billion
September 1958 - $288 billion
February 1958 - $280 billion
July 1956 - $278 billion
August 1954 - $281 billion
June 1946 - $275 billion
April 1945 - $300 billion
June 1944 - $260 billion
April 1943 - $210 billion
March 1942 - $125 billion
February 1941 - $65 billionn
June 1940 - $49 billion
December 1939 - $45 billion
December 1919 - $43 billion

Thats 3 times for Obama admin, 7 for Bush W admin, 4 for clinton admin, 4 for HW Bush admin, 18 times for Reagan admin, 6 times for Carter admin. And so on for many years in history. And every time without real opposition. Only when the tea party took control of the repub admin did it become an issue. And only then did the repubs get the cons to believe it was a good idea.

 

[EdwardBaiamonte]

A person is limited to what they can buy based on their credit rating.
The legislature can go on passing legislation. ilMay cost a bit more, but they can go on doing so.

Obviouly the credit limit on your CC constrains the debt you can accumulate. If the libturds in government had the the same Republican constraints we would not be looking like Greece.

Simply but way over your liberal head -right?

 

[EdwardBaiamonte]

Only when the tea party took control of the repub admin did it become an issue. And only then did the repubs get the cons to believe it was a good idea.

its a bad idea???? Just spend ourselves into oblivion like we're freakin Greeks????????


See why we are 100% positive a liberal will be slow, so very very slow??

 

[Annie]

Give the left their due. Abolish the debt ceiling, no restraints. Revisit in 18 months. BTW, before any vote, state why it's a bad idea, in each legislators opinion and how they are honoring the 'will of the people' via the election results.

Tape and use in 18 months. Of course, if the economy is roaring, they will lose. If not, very useful not to have been obstructionists and acquiescing to the will of the people.

 

[oldfart]

Wow amazing how many people have no clue what the debt ceiling is. Actually looking at the boner everyone pulled on election day no it's not.

Who do you feel is unable to understand what the debt ceiling is? Pretty simple concept.

I suppose he is refering to the people wo believe that the debt ceiling has something to do with the level of spending.

 

[Quantum Windbag]

It appears that the only other nation on the face of the earth that has a debt ceiling is Denmark. I see no useful purpose that it serves. If we want to cut spending, we cando that in the budget. The Constitution says that the federal govenment can on spend what Congress has authorized. Section 4 of the Fourteenth Amendment holds that the debt of the United States is "not to be questioned", whatever that means.

So folks, why not just abolish the debt ceiling? If Congress approves a budget, it could simultaneously approve paying for it.

It reminds us that we are not Greece.

 

[oldfart]

The debt ceiling is about living within our means so we don't end up like Greece you perfect 1000% liberal idiot!!!

Uh, Ed the debt ceiling is not about living within your means, it's about paying your bills after you have recieved the goods.
Don't want you to be confused wih deadbeats now do we?

 

[Quantum Windbag]

It appears that the only other nation on the face of the earth that has a debt ceiling is Denmark. I see no useful purpose that it serves. If we want to cut spending, we cando that in the budget. The Constitution says that the federal govenment can on spend what Congress has authorized. Section 4 of the Fourteenth Amendment holds that the debt of the United States is "not to be questioned", whatever that means.

So folks, why not just abolish the debt ceiling? If Congress approves a budget, it could simultaneously approve paying for it.

The ‘debt ceiling’ is about politics, not responsible economic policy.

Get rid of it indeed.

How would not having a debt ceiling be about responsible economic policy?

 

[Kevin_Kennedy]

The debt ceiling is about living within our means so we don't end up like Greece you perfect 1000% liberal idiot!!!

Uh, Ed the debt ceiling is not about living within your means, it's about paying your bills after you have recieved the goods.
Don't want you to be confused wih deadbeats now do we?

Well since it's inevitable the sooner the better.