Voters: pay attention on the debt limit

PostmodernProphet said:
the debt ceiling is that thing demmycrats ignore until the time comes for them to ask the rest of us to ignore it......
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Poor “pp,” just to educate you, again, the Democrats didn’t play politics with the debt ceiling all thru the Trump reign, they understood the repercussions, approved it every time he requested such
 
T. A. Gardner said:
The debt ceiling works very much like a credit card.

The US has a line of credit. It can borrow $300 (using small numbers to make this easy). It has borrowed $300. The problem is interest on that debt has gone up due to inflation and higher interest rates. So now the US has a debt of $310. It needs $10 more credit limit it doesn't have. Thus the debt ceiling needs to be raised (the line of credit increased).

What the Republicans are saying is We will raise the ceiling to $310 but you need to cut some spending to keep things there too. The Democrats are saying We want the limit raised to $400 so we can continue to spend what we've been spending and add some new debt on the card. This is usually called "float." It's the difference between what you've already spent and owe and what credit you still have available for new spending.
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Not that simple, I’d explain it to you again but it would be the third time, you can lead a horse to water but you can’t make it ……….
 
BartenderElite said:
Both parties gave us debt.

Republicans were never the deficit hawks and spending-cutters that they promised. For decades now.
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Especially during the last Administration, in four years Trump added eight trillion to the debt, nearly exactly what it took Obama with a recession to do in eight years
 
T. A. Gardner said:
It is you that doesn't understand. The debt limit is the amount of money the US government can borrow. If raised sufficiently, it allows new spending along with servicing current debt.
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..can borrow TO PAY FOR PAST budget approved expenditures.

Stop being dumb.,

This is like you getting a credit card from your dad, where he already ran it up past the limit, and when you say you need to raise the limit to cover what he already spent, he says to you, to be responsible he cannot allow you to raise it.

It has NOTHING to do with future budgets or spending. Just pass a responsible budget and the debt ceiling does not matter.
 
ExpressLane said:
Amazing just how stupid anchovies is maybe he should run for Congress.
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And yet you are the dunce and he is correct.

You CANNOT default on future budget spends before they are spent. You can ONLY default on PAST money spent.

The debt ceiling is about paying for obligations that were caused by PAST budgets.
 
QP! said:
..can borrow TO PAY FOR PAST budget approved expenditures.

Stop being dumb.,

This is like you getting a credit card from your dad, where he already ran it up past the limit, and when you say you need to raise the limit to cover what he already spent, he says to you, to be responsible he cannot allow you to raise it.

It has NOTHING to do with future budgets or spending. Just pass a responsible budget and the debt ceiling does not matter.
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You are only talking about default on debt, not the purpose of the debt ceiling itself. Raising it can allow additional spending.
 
archives said:
Poor “pp,” just to educate you, again, the Democrats didn’t play politics with the debt ceiling all thru the Trump reign, they understood the repercussions, approved it every time he requested such
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poor anchovies, just to educate you again, the demmycrats are responsible for the overspending, before, during and after Trump......they didn't give a fuck about the repercussions and just added debt on top of debt.....
 
QP! said:
And yet you are the dunce and he is correct.

You CANNOT default on future budget spends before they are spent. You can ONLY default on PAST money spent.

The debt ceiling is about paying for obligations that were caused by PAST budgets.
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no one is going to default on anything........but you need to agree to stop doing what you've been doing for the last forty years.....
 
BartenderElite said:
Watch what happens if we default. Then you can tell me how much better off we are.
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We're going to default anyway, just a matter of when.

But you miss the point as usual. We can easily cut spending raise the limit a little and let that ease the squeeze until the inflation, weakening dollar and debt bubble bring it all down.
 
Celticguy said:
We're going to default anyway, just a matter of when.

But you miss the point as usual. We can easily cut spending raise the limit a little and let that ease the squeeze until the inflation, weakening dollar and debt bubble bring it all down.
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It is a flaw of the Constitution to require Congress to raise the limit.
 
ExpressLane said:
you just want to keep raising the debt limit . It’s time to rein in spending. You hat is what the GOP is trying to do. But you lied and said that money had all been spent
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The key point here. Quite a lot of money has NOT been spent and money that was spread over years can get unspent over future to create savings.

Like real people have to do when the income no longer lasts till the end of the month. Planned spending ois the first thing to go. Like those 80,000 IRS ARMED agents.
 
archives said:
Not quite, "to fund the government's operations," meaning to pay off debt already incurred, to pay bills due, didn't you ever wonder why if they don't raise the ceiling the country would default? One can't default on what they are going to spend next year
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We never pay off debt already incurred. We paid the bills for past spending as they occurred with borrowed money. When those treasuries come due we pay the bond holders by borrowing more money. We never pay down the debt, we just pay interest and borrow more money which increases the interest payments. Government never "cuts" the budget, they just reduce the amount of the projected increase.

Some of the House plans to reduce spending is already hitting a snag as the farm block is unwilling to accept cuts in ethanol and other subsidies.
 
Celticguy said:
The key point here. Quite a lot of money has NOT been spent and money that was spread over years can get unspent over future to create savings.

Like real people have to do when the income no longer lasts till the end of the month. Planned spending ois the first thing to go. Like those 80,000 IRS ARMED agents.
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It is 80,000 (estimate) employees--not agents and most are not armed.
 
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