Raising the Debt Ceiling

C

Concart

Well-known member
Contributor
The hard deadline for raising the debt ceiling is sometime in early June. The ramifications are already being felt in the markets. Just the threat of a default is enough to cause economic angst among investors.

Democrats want a clean bill raising the debt ceiling. Republicans want to attach massive spending cuts to the debt ceiling bill (ironic given this is EXACTLY what they were whining about during the Speaker fight).

Raising the debt ceiling allows us to pay back money that we've already spent. Failing to raise the debt ceiling will result in the US Government defaulting on its debt. We are basically debating whether we should pay our credit card bill or not.

How should the debt ceiling be handled, and why? My position is that the White House should stick to its guns and force Republicans to make the hard choice. What do you think should be done and why?
 
I bring evincible facts to bear that prove the Republican Party is the enemy of Democracy in the US
 
Concart said:
The hard deadline for raising the debt ceiling is sometime in early June. The ramifications are already being felt in the markets. Just the threat of a default is enough to cause economic angst among investors.

Democrats want a clean bill raising the debt ceiling. Republicans want to attach massive spending cuts to the debt ceiling bill (ironic given this is EXACTLY what they were whining about during the Speaker fight).

Raising the debt ceiling allows us to pay back money that we've already spent. Failing to raise the debt ceiling will result in the US Government defaulting on its debt. We are basically debating whether we should pay our credit card bill or not.

How should the debt ceiling be handled, and why? My position is that the White House should stick to its guns and force Republicans to make the hard choice. What do you think should be done and why?
Click to expand...

Not raising the debt ceiling will result in dire economic consequences in the U.S. and the world. At the minimal, it will reduce the U.S.’s credit rating which in the end could add considerably to the debt that supposedly concerns the right so much

Given that it is over paying current bills it should be a clean bill, if the right wants to debate spending it should be done in the fall when the new budget is due and not now
 
When any branch of government is turned over to the republicans, the nation is going to suffer one way or another.
It's the price that we pay for tolerating the GOP.

The shoeless and toothless constituents who elected the pachy assholes from their shithole districts are this nation's fifth column.
 
On Thursday, the U.S. government officially hit the $31.4 trillion debt ceiling.

Translation: The government is cut off and no longer able to pay its bills without taking extraordinary measures.

“The United States runs a budget deficit, which means it doesn’t generate enough money from taxes and other revenue sources to fully fund its operations. In order to fund those operations, the US issues debt to continue to provide services to its citizens and fund expenses. So what does this mean? Lawmakers have a few months to reach an agreement before the U.S. defaults entirely. Some are pushing for an increase to the debt ceiling, others think the U.S. needs to reign in its spending. NEVER HAPPEN WITH SENILE JOE SPENDING LIKE A DRUNKEN SAILOR.

The endless borrowing will collapse the dollar. If our representatives can't control their own spending, then controlling their ability to borrow is absolutely necessary. So, why did they spend $7 Trillion last year while taking in only $4 Trillion?

turn all undocumented refugees away for starters we have no money to support them. Cut military spending push for a peace deal in Ukraine and forget this student loan forgiveness for starters.

The Gov. doesn't collect enough funds to cover the expenses for its operations, so it either cuts the runaway spending or go back to printing, should we put it to a vote?
cancel all the porkbarrel projects they passed to get votes, roll congress salary BACK, and stop supporting idle people. I read on your web only 40% of people pay taxes.

Working for a living is for losers with our current gov't.

We don't have a revenue problem...Congress has a spending problem...Congress is creating this abyss...if we start paying down our $31 Trillion debt $100 Billion per year and incur no new debt, the debt will be paid off in 310 years....sorry folks...we are bankrupt, we are just too stupid to know it...
 
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Concart said:
The hard deadline for raising the debt ceiling is sometime in early June. The ramifications are already being felt in the markets. Just the threat of a default is enough to cause economic angst among investors.
Click to expand...

Gotta protect those wall street fat cats, right?

Democrats want a clean bill raising the debt ceiling.
Click to expand...

Translation: democrats want to go on spending like drunken sailors so we can just keep on raising the debt ceiling again and again and again and....

Republicans want to attach massive spending cuts to the debt ceiling bill (ironic given this is EXACTLY what they were whining about during the Speaker fight).
Click to expand...

We absolutely need to cut spending. The democrats don't want to compromise, they figure the republicans will get the blame, so fuck it.

Raising the debt ceiling allows us to pay back money that we've already spent. Failing to raise the debt ceiling will result in the US Government defaulting on its debt. We are basically debating whether we should pay our credit card bill or not.
Click to expand...

No, we are debating whether we should keep growing our massive "credit card debt" or start taking steps to reduce it. Big swing and a miss.

How should the debt ceiling be handled, and why? My position is that the White House should stick to its guns and force Republicans to make the hard choice. What do you think should be done and why?
Click to expand...

Shocker, your position is based entirely on politics. At what point should we actually start addressing the issues that got us to this massive, unsustainable level of debt? We need to cut spending in a massive way and stop stealing from future generations. Fuck all of you greedy, selfish boomer assholes.
 
Lionfish said:
On Thursday, the U.S. government officially hit the $31.4 trillion debt ceiling.

Translation: The government is cut off and no longer able to pay its bills without taking extraordinary measures.

“The United States runs a budget deficit, which means it doesn’t generate enough money from taxes and other revenue sources to fully fund its operations. In order to fund those operations, the US issues debt to continue to provide services to its citizens and fund expenses. So what does this mean? Lawmakers have a few months to reach an agreement before the U.S. defaults entirely. Some are pushing for an increase to the debt ceiling, others think the U.S. needs to reign in its spending. NEVER HAPPEN WITH SENILE JOE SPENDING LIKE A DRUNKEN SAILOR.

The endless borrowing will collapse the dollar. If our representatives can't control their own spending, then controlling their ability to borrow is absolutely necessary. So, why did they spend $7 Trillion last year while taking in only $4 Trillion?

turn all undocumented refugees away for starters we have no money to support them. Cut military spending push for a peace deal in Ukraine and forget this student loan forgiveness for starters.

The Gov. doesn't collect enough funds to cover the expenses for its operations, so it either cuts the runaway spending or go back to printing, should we put it to a vote?
cancel all the porkbarrel projects they passed to get votes, roll congress salary BACK, and stop supporting idle people. I read on your web only 40% of people pay taxes.

Working for a living is for losers with our current gov't.

We don't have a revenue problem...Congress has a spending problem...Congress is creating this abyss...if we start paying down our $31 Trillion debt $100 Billion per year and incur no new debt, the debt will be paid off in 310 years....sorry folks...we are bankrupt, we are just too stupid to know it...
Click to expand...

How strange that you never were concerned about spending when Trump ran up a national debt of almost $8 trillion. Its only when a Democrat is in the WH that you shed your crocodile tears.
 
Republicans are fools. This is money we owe.

And the economy will go through true horror if we don't do it. People would never forgive the GOP - and their rich donors won't let it happen. They'll come around eventually, after a ton of grandstanding.
 
floridafan said:
How strange that you never were concerned about spending when Trump ran up a national debt of almost $8 trillion. Its only when a Democrat is in the WH that you shed your crocodile tears.
Click to expand...

Gotta love this type of nonsensical non-answer. Who says he wasn't concerned, sweet tits? I didn't like Trump's excessive spending, many conservatives didn't. Your argument is stupid and invalid.
 
Sirthinksalot said:
Gotta love this type of nonsensical non-answer. Who says he wasn't concerned, sweet tits? I didn't like Trump's excessive spending, many conservatives didn't. Your argument is stupid and invalid.
Click to expand...

Then find me a single post during the 4 years of trump administration in which you complained about excess spending.
 
we are out of road to kick the can down.

cuts are required and not just reducing the amount of increase.

will it hurt ? Yes. will it hurt as much as this massive inflation ? not even close.

will Wall Street be unhappy ? of course. is that bad ? not really.
 
floridafan said:
Then find me a single post during the 4 years of trump administration in which you complained about excess spending.
Click to expand...

Nah, not going to search through thousands of my own posts to prove what a lying idiot you are. You would just make some dismissive, glib remark anyway. You have proven what a partisan whore you are many times. If you post a picture of those titties, I'll reconsider. ;)
 
Celticguy said:
we are out of road to kick the can down.

cuts are required and not just reducing the amount of increase.

will it hurt ? Yes. will it hurt as much as this massive inflation ? not even close.

will Wall Street be unhappy ? of course. is that bad ? not really.
Click to expand...

Then set up Congressional committees to implement necessary cuts. Dont hold the country hostage.
 
Sirthinksalot said:
Nah, not going to search through thousands of my own posts to prove what a lying idiot you are. You would just make some dismissive, glib remark anyway. You have proven what a partisan whore you are many times. If you post a picture of those titties, I'll reconsider. ;)
Click to expand...

Thank you my dear for confirming once again how FOS you continue to be.
 
BartenderElite said:
Republicans are fools. This is money we owe.

And the economy will go through true horror if we don't do it. People would never forgive the GOP - and their rich donors won't let it happen. They'll come around eventually, after a ton of grandstanding.
Click to expand...

Why do we "owe" it?
 
floridafan said:
How strange that you never were concerned about spending when Trump ran up a national debt of almost $8 trillion. Its only when a Democrat is in the WH that you shed your crocodile tears.
Click to expand...

Not strange at all because you will never find a thread where I supported more government spending regardless of who was in office. Go look and I will wait.
 
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