Raising the Debt Ceiling

[Geeko Sportivo]

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?

Well for one thing, Congress cannot continue to decide this year how much money they are going to spend, and decide next year if they are going to pay the money back or not.

That's insane- like the idiots in Congress that just don't understand this one little rule- that the US debt must be paid or the US is no longer a legitimate leader or even dependable or responsible in the world.

Legitimate leaders do not just cut and run or file for Bankruptcy when the money runs short!

 

[Jarod]

and all 8 of Obama's, all 8 of Bush's, both of Biden's so far........did you want to talk about Nancy and the Demmycrats in the House or not......Trump did the best of any of them except for the Covid pandemic year....

So a temporary small improvement while pumping billions into the economy riding on Obamas coat tails….

 

[QP!]

the other two are obviously Obama and Biden (since he's nearly past Bush in just his second year.....

Sure, but as always happens Obama was handed a country in chaos from Bush Jr, and Biden was handed a country in chaos, from Trump.


Bush Jr and Trump inherited booming economies.


When you inherit booming economies that is when you pay down debt and cool it, so your country has the bullets for the next downturn. The GOP always does the exact opposite. Run it up, so things over heat (increase inflation risk, etc) so when the Dem's get in they are more likely to be fighting fires.

The GOP are the least fiscally responsible party ever. If trump was to get back in 2024, does ANYONE think he would not cut revenues again massively (tax cuts for rich and corporations) while piling on massive debt?

Trump is the master of one thing, which he says debt 'NOBODY KNOWS DEBT LIKE ME', and that is true. The Master of using debt for a quick sugar high, short term gain and long term bankruptcy. With the Country he could care less if it goes bankrupt decades later. As soon as he was out, the GOP would then go back to screaming the Dem's have to fix it again.

 

[PostmodernProphet]

temporary

yes.....it only lasted while the Republicans controlled Congress.....

 

[PostmodernProphet]

Obama was handed a country

and gave us the worst recovery in US history.....

 

[Jarod]

yes.....it only lasted while the Republicans controlled Congress.....

If you are going to quote me, please do not edit. If makes you look desperate.

 

[Theywillneverlearn!]

It is not easy to teach dead heads like you. But I keep trying.

You? Teach? How to get on welfare maybe. Other than that? STFU you uneducated asshole.

 

[QP!]

and gave us the worst recovery in US history.....

Oh yes, things were just terrible when Trump took the US economy from Obama.

 

[Walt]

Imagine if you...

Imagine if you set a limit for yourself on how much you were allowed to borrow. Then you bought a bunch of things, and told all the sellers of those things you would not pay them, because you set yourself a limit to how much you were allowed to borrow. If you were a corporation, you would go to prison. If you were in government, you would be violating the Constitution.

 

[Lionfish]

Imagine if you set a limit for yourself on how much you were allowed to borrow. Then you bought a bunch of things, and told all the sellers of those things you would not pay them, because you set yourself a limit to how much you were allowed to borrow. If you were a corporation, you would go to prison. If you were in government, you would be violating the Constitution.

Wally, you will never win an argument over the government pissing away our money so it's probably best if you just shift your lips into park.

 

[Walt]

Wally, you will never win an argument over the government pissing away our money so it's probably best if you just shift your lips into park.

Spending is the "pissing away" of the money. We are now just trying to figure out how to fund the spending that Congress requires the government to make.