What good is the Debt Ceiling?

[Damocles]

I think that the republicans should have simply stated, "We'll vote for this increase as soon as a balanced budget amendment is passed and sent to the states for ratification". Make it stick, whatever they agree to can simply be ignored by any future congress unless they actually limit the government with an amendment.

 

[Bonestorm]

I think that the republicans should have simply stated, "We'll vote for this increase as soon as a balanced budget amendment is passed and sent to the states for ratification". Make it stick, whatever they agree to can simply be ignored by any future congress unless they actually limit the government with an amendment.

You're insane.

 

[Damocles]

You're insane.

Right. Your solution is to do nothing at all and just BELIEVE hard enough and the government will handle it in the future and I'm the dude that's insane?

Now, just say "fargle bargle" and move on, so far your offer has been "Do nothing FAST!"

 

[Bonestorm]

Right. Your solution is to do nothing at all and just BELIEVE hard enough and the government will handle it in the future and I'm the dude that's insane?

Now, just say "fargle bargle" and move on, so far your offer has been "Do nothing FAST!"

It's insane to hold the full faith and credit of the United States hostage to the partisan demands you cannot achieve otherwise. If you want a balanced budget amendment, hold a vote on it. If you want to cut spending in the future, sponsor a bill that does it. Letting the government default on its debt unless you get a constitutional amendment is reckless stupidity.

 

[Based Chad]

Right. Your solution is to do nothing at all and just BELIEVE hard enough and the government will handle it in the future and I'm the dude that's insane?

Now, just say "fargle bargle" and move on, so far your offer has been "Do nothing FAST!"

They'll just keep printing money like usual. And that's ok. Our credit rating will never get downgraded, we run this shit.

 

[Damocles]

It's insane to hold the full faith and credit of the United States hostage to the partisan demands you cannot achieve otherwise. If you want a balanced budget amendment, hold a vote on it. If you want to cut spending in the future, sponsor a bill that does it. Letting the government default on its debt unless you get a constitutional amendment is reckless stupidity.

No it isn't insane. The past performance of our government makes it clear that without massive incentive there will be no change. All you've done here is flower up exactly what I stated before. Your position is: Do nothing FAST!

 

[Based Chad]

No it isn't insane. The past performance of our government makes it clear that without massive incentive there will be no change.

It's wreckless stupidity. You're wrong again.

 

[Damocles]

They'll just keep printing money like usual. And that's ok. Our credit rating will never get downgraded, we run this shit.

They don't print anything, they borrow the money into existence. The only way to ensure that they'll stop is by ending the borrowing and forcing them to actually pay debt. Paying down your debt will not downgrade our credit rating.

 

[Based Chad]

They don't print anything, they borrow the money into existence. The only way to ensure that they'll stop is by ending the borrowing and forcing them to actually pay debt. Paying down your debt will not downgrade our credit rating.

They borrow it from people who print it. Right? You're aware we're on a fiat currency system right?

 

[Damocles]

It's wreckless stupidity. You're wrong again.

Wow, Nigel. While you come at it from separate sides you and AssHat Agree, we should do nothing because anything else is "wreckless"...

Reckless is simply doing nothing and continuing to allow the government to spend as if there never will be a day we need to pay. There comes a day when we've devalued our currency enough and the international community will cease to use the dollar as a reserve currency, ask Britain whether or not that hurts.

 

[Damocles]

They borrow it from people who print it. Right? You're aware we're on a fiat currency system right?

The point is, short-circuiting it at the "they borrow it" portion actually does something about this. They are literally borrowing it from the same people who then purchase the debt. 75% of our debt is being bought by the FED. That actually IS insane.

 

[Based Chad]

Wow, Nigel. While you come at it from separate sides you and AssHat Agree, we should do nothing because anything else is "wreckless"...

Reckless is simply doing nothing and continuing to allow the government to spend as if there never will be a day we need to pay. There comes a day when we've devalued our currency enough and the international community will cease to use the dollar as a reserve currency, ask Britain whether or not that hurts.

Stop your fear mongering. You're laughably cretinisque with your "sky is falling" rhetoric.

 

[Damocles]

Stop your fear mongering. You're laughably cretinisque with your "sky is falling" rhetoric.

Right, Mr. "Your reckless" is now trying to tell somebody else that they are fear mongering. Fear mongering is Nigel's "This will end life as we know it because we'll be downgraded" rubbish.

We should not "do nothing", that is not a solution to anything and this stupid spending policy absolutely is leading us right off the same cliff that we've been headed towards since 1962. It is immoral and stupid to continue spending future treasure so that we can continue to "afford" excessive entitlement and military spending.

 

[Based Chad]

Right, Mr. "Your reckless" is now trying to tell somebody else that they are fear mongering. Fear mongering is Nigel's "This will end life as we know it because we'll be downgraded" rubbish.

We should not "do nothing", that is not a solution to anything and this stupid spending policy absolutely is leading us right off the same cliff that we've been headed towards since 1962. It is immoral and stupid to continue spending future treasure so that we can continue to "afford" excessive entitlement and military spending.

I don't think anyone says to "do nothing". That's just something you made up.

 

[Bonestorm]

Wow, Nigel. While you come at it from separate sides you and AssHat Agree, we should do nothing because anything else is "wreckless"...

Reckless is simply doing nothing and continuing to allow the government to spend as if there never will be a day we need to pay. There comes a day when we've devalued our currency enough and the international community will cease to use the dollar as a reserve currency, ask Britain whether or not that hurts.

You should be a bit more worried about the very real consequences in two months if the United States government defaults on its debt than the hypothetical consequences of too much deficit spending that may arise some day in the future if Congress continues to spend too much money without increasing revenue.

 

[Damocles]

I don't think anyone says to "do nothing". That's just something you made up.

Yet it is what you are saying we should do here. Just continue on the same path, raise that limit whenever they want. You tell me that to actually do something is reckless.

If that is not your position, then enlighten us. So far all you have brought to this table is a policy of "continue exactly what we have been doing in the past otherwise you are insane and reckless"...

 

[Based Chad]

Yet it is what you are saying we should do here. Just continue on the same path, raise that limit whenever they want. You tell me that to actually do something is reckless.

If that is not your position, then enlighten us. So far all you have brought to this table is a policy of "continue exactly what we have been doing in the past otherwise you are insane and reckless"...

I have not said that. I think we should take radical steps to rejuvenate our domestic economy. Your proposed "something" is not the only "something" to be done. There's a revenue side here too. I never said "do nothing", nobody has.

 

[Damocles]

You should be a bit more worried about the very real consequences in two months if the United States government defaults on its debt than the hypothetical consequences of too much deficit spending that may arise some day in the future if Congress continues to spend too much money without increasing revenue.

I don't think we will default on that. I think that by that time we'll have an agreement in place. I think that if the republicans did nothing as you say they should, then literally nothing would be done. Moody's warned that this needs to be settled by August, but they also warned that if nothing was done about the rising debt we could be downgraded still. This is absolutely the time to do something, because I think that if we don't do it now it won't get done.

 

[Based Chad]

I don't think we will default on that. I think that by that time we'll have an agreement in place. I think that if the republicans did nothing as you say they should, then literally nothing would be done. Moody's warned that this needs to be settled by August, but they also warned that if nothing was done about the rising debt we could be downgraded still. This is absolutely the time to do something, because I think that if we don't do it now it won't get done.

Refusing to raise the debt ceiling is a moronic "something" to do. Mindless action is never a good remedy.

 

[Damocles]

I have not said that. I think we should take radical steps to rejuvenate our domestic economy. Your proposed "something" is not the only "something" to be done. There's a revenue side here too. I never said "do nothing", nobody has.

So you've come full circle from "we need to go back to the barter system" to full-fledged Keynesian. I'm impressed. I don't think I've ever seen somebody change as much as you have AssHat. Your solution is to simply raise the limit and have the government overspend more, but only on your special pet projects.

Tell me, what part of a balanced budget amendment would make it so they couldn't raise revenue?