How much debt is too much

[Bern80]

You libs never can provide an answer so here's another chance

current debt 17 T
when obama leaves office 20 T

At what point must the govt stop spending more than it takes in?

25 T
50 T
100 T

?

Here's a question for you. How will we pay it off without raising taxes or devaluing our currency?

And I don't suppose you noticed that Bush doubled the national debt, too. "Reagan proved deficits don't matter."

Two things. Cut government spending drastically and move to a flat tax of 20% on all income regardless of how it is generated. Here is an interesting website to work from U.S. National Debt Clock : Real Time. The government could then put what it's not spending into paying of the debt and the 20% on all income, no matter how derived, elimination of credits, loopholes and deductions, and the government would actually see an increase in tax revenue while raising the taxes of some a small amount, like investors, and lowering the taxes of many, like the middle class.

And we should not make the mistake of thinking debt is bad. It's just as the op said, how much is too much. Debt that is 6 times what you take in is too much.

 

[g5000]

OK, good. So you will oppose any attempts by obama and the dems to raise the debt ceiling next year, right?

will you vote against any congressmen or senators who vote to raise the debt ceiling?

I anticipated this self-destructive attitude: Will GOP Blow Its Current Advantage In January?

See, whining about the debt ceiling, and not being a part of the solution, just makes you a whiner. Nobody likes a whiner.

 

[DiamondDave]

$1

agreed, but it currently stands at 17 trillion and is going up every day. How do we stop it?

Constitutional amendments holding government responsible with punishments attached.. it is the only way... the spending has to stop

 

[g5000]

You want to see the Right scream like a bunch of hippies?

Just ask them to give up their regressive tax deductions, credits, and subsidies so we can lower tax rates for everyone.

They want to force other people to give up the government goodies, but when asked to give up their own, they turn into the exact same entitlement titty babies as everyone else.

There are only a tiny, tiny minority of right wingers on this forum who believe we should give up all tax expenditures.

Until the GOP starts to actually behave like a truly fiscally conservative organization again, I am not buying into their hypocritical debt ceiling hysteria.

The GOP is power hungry. That's their true motive. They want to return to the days when it was Republicans doubling the national debt, and they will pay lip service to all the old buzz words to get there.

 

[LordBrownTrout]

There should be no debt or surplus at the end of the fiscal year. The ledger should read 0.

 

[rightwinger]

come on sallow, RW, jake-------------weigh in. How much debt is too much?

When the interest on the debt consumes the entire revenue of the govt, is that your answer?

We are Americans.......debt does not matter

Reagan proved that

 

[g5000]

There should be no debt or surplus at the end of the fiscal year. The ledger should read 0.

Yep. But since we have a debt now, there needs to be a surplus until it is paid down.

 

[Papawx3]

To me, the term "too much debt" means that I have more bills to pay this month than I can pay with the money I expect to receive this month. If I have to borrow from next month's paychecks (or those of future months) in order to pay this month's bills, then I have too much debt.
The more" debt" one accumulates, the less likely they will be able to replace it with "wealth".

 

[Bern80]

You want to see the Right scream like a bunch of hippies?

Just ask them to give up their regressive tax deductions, credits, and subsidies so we can lower tax rates for everyone.

They want to force other people to give up the government goodies, but when asked to give up their own, they turn into the exact same entitlement titty babies as everyone else.

There are only a tiny, tiny minority of right wingers like myself on this forum who believe we should give up all tax expenditures.

Until the GOP starts to actually behave like a truly fiscally conservative organization again, I am not buying into their hypocritical debt ceiling hysteria.

You are 100% right. That is why a lot of us who typically vote Republican are so tired of the rank and file like Boehner and McCain. There is some hope for the type of reform you're asking for in the form of tea party and libertarian Republicans like Cruz and Rand Paul. But interestingly in the media and on these boards these groups are even more reviled by libs than the rank file republicans.

 

[rightwinger]

If debt really meant anything we would do something about it

Republicans only care about debt when a Democrat is in office

They call Democrats "tax and spend" but Republicans cut taxes and spend

Which adds more to he debt?

 

[g5000]

Say what you will about the man, and I've made my share of attacks on the guy, John Boehner at least has the balls to admit we need to raise the retirement age to 70.

We are living 30 percent longer than when the age was set at 65. Common sense dictates we should be working longer.

Boehner needs to start pushing hard for this solution.

 

[Bern80]

There should be no debt or surplus at the end of the fiscal year. The ledger should read 0.

As I mentioned above, this is not actually true. The ability to show that you can carry some debt is actually a good thing. Most people can not purchase a home or a car or many other things outright, so they finance them. That doesn't make them irresponsible neccessarily as long as their cashflow vs. expenses show they can manage it.

 

[LordBrownTrout]

If debt really meant anything we would do something about it

Republicans only care about debt when a Democrat is in office

They call Democrats "tax and spend" but Republicans cut taxes and spend

Which adds more to he debt?

Dems only care about debt when an R is in office. Neither really gives a shit.

 

[DiamondDave]

If debt really meant anything we would do something about it

Republicans only care about debt when a Democrat is in office

They call Democrats "tax and spend" but Republicans cut taxes and spend

Which adds more to he debt?

And the conservatives say flat tax and spend in a balanced budget.. with the elimination of all exemptions, deductions, exceptions, and excuses.. and you little libbies run for the hills screaming

 

[MACAULAY]

Obama and his Socialist groupies don't care how much is too much, because he knows whenever it crashes out, it will be mostly Republicans who have to pay it off....and not the massive number of Democrat free-loaders who he has invited to live free on his Federal Plantation.

Borrowing money to hand out free stuff to buy votes is working pretty well and is s a surreptitious way of spreading the wealth. Marx would have been proud. Never mind that it will ultimately create a lot of misery for all....when he runs out, as he inevitably will, of other people's money.

If you have children, and you care about how their lives will be, you want the lying scumbag impeached while there is, hopefully, still time.

 

[Bern80]

Say what you will about the man, and I've made my share of attacks on the guy, John Boehner at least has the balls to admit we need to raise the retirement age to 70.

We are living 30 percent longer than when the age was set at 65. Common sense dictates we should be working longer.

Boehner needs to start pushing hard for this solution.

I would agree with that too. Many entitlement programs need drastic reform, but as you so correctly stated they are scared shitless about their political careers going away if they have to take anything away from anyone. It's a perfect illustration as to why the framers of constitution didn't give the fed the authority to tinker to the extent we have with the tax code or allow for all the entitlement programs, on the individual and corporate level, we currently carry

 

[LordBrownTrout]

There should be no debt or surplus at the end of the fiscal year. The ledger should read 0.

As I mentioned above, this is not actually true. The ability to show that you can carry some debt is actually a good thing. Most people can not purchase a home or a car or many other things outright, so they finance them. That doesn't make them irresponsible neccessarily as long as their cashflow vs. expenses show they can manage it.

I don't necessarily disagree completely. However, we haven't shown any responsibility in carrying debt in the last 15 years. I've always held the belief to save and then pay something off when you want it,, homes being the possible exception.

 

[rightwinger]

If debt really meant anything we would do something about it

Republicans only care about debt when a Democrat is in office

They call Democrats "tax and spend" but Republicans cut taxes and spend

Which adds more to he debt?

Dems only care about debt when an R is in office. Neither really gives a shit.

I agree ...debt is the easy way out

 

[rightwinger]

If debt really meant anything we would do something about it

Republicans only care about debt when a Democrat is in office

They call Democrats "tax and spend" but Republicans cut taxes and spend

Which adds more to he debt?

And the conservatives say flat tax and spend in a balanced budget.. with the elimination of all exemptions, deductions, exceptions, and excuses.. and you little libbies run for the hills screaming

Flat tax is gift to the wealthy

 

[DiamondDave]

If debt really meant anything we would do something about it

Republicans only care about debt when a Democrat is in office

They call Democrats "tax and spend" but Republicans cut taxes and spend

Which adds more to he debt?

And the conservatives say flat tax and spend in a balanced budget.. with the elimination of all exemptions, deductions, exceptions, and excuses.. and you little libbies run for the hills screaming

Flat tax is gift to the wealthy

Because you only want equal treatment when it benefits you.. and the unequal treatment of others when it benefits you... the liberal progressive way