The Facts About the Debt Ceiling

[Hope_and_change]

Even liberal pundits had to face facts yesterday: Barack Obama is America's biggest loser . Even before his loss, the Administration was already trying to spin the failure that was to come . Spin doctors said if voters vote Republican in record numbers, that, somehow, this does NOT mean a rejection of President Obama and his agenda . And if you believe that I have another subprime mortgage to sell you.

 

[GHook93]

Why is it always the people who understand nothing about a subject are the ones who profess to give you the "facts"?

*shrug*

Jill what he stated is 100% the truth. Social Security, medicare, medicaid, interest on our debt and our military men and women will all get paid!

 

[midcan5]

If I can't raise my debt ceiling, Congress shouldn't be able to either.

You must be a republican? What did you do, start two wars and not pay for them, lower taxes as the bills came due, deregulate the wife and children's spending? We democrats pay our bills, I can raise my debt ceiling any time, maybe you should come over from the dark side.

 

[Contumacious]

Well, that certainly Splains You.

The government's monthly receipts can cover interest on the debt, SS, Medicare, active military, veterans' pensions, with several billion left over for discretionary spending.

If these are not paid, it's a political decision made by Obama.

And, whatever happened to the Legendary & Sacred Social Security Trust Fund Lock Box?

The Experts say that YOU are correct:


"The Treasury Department is due to pay off $30 billion in maturing short-term debt. But we also know that the Treasury has the ability to prioritize its payments and pay that particular $30 billion out of the $172 billion it collects in tax revenue. As the Bipartisan Policy Center has calculated, after paying $30 billion in interest payments in August, Treasury could, if it ceased all other functions (see page 13 of this document), also pay for Social Security, Medicare, unemployment benefits, and payments to defense contractors. Technically speaking, there is no need to default in the absence of a debt ceiling agreement."

Reason columnist and Mercatus Center economist Veronique de Rugy appears weekly on Bloomberg TV to separate economic fact from economic myth.

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Those poor fuckers on the Space Station will just have to fend for themselves. And Homeland Security will finally get a day off! Plus, it'll be a nice break for all those people getting nasty calls from the IRS.

But hey, some Republicans just aren't interested in paying the bills that their own House of Representatives approved. Color me surprised.

As shown , there is no need to default - as that term is used nowadays - .

200 BBBBBillions per month is a lot of money - they have to cut expenditures to the essential and forget about tax increases.

Now get that through your thick skull.

Now I do agree that OU sucks.

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