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US Treasury asks Congress to lift debt ceiling

Renae

Renae

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Treasury Secretary Timothy Geithner asked Congress to raise the US debt ceiling Thursday, firing the starting gun on a fresh political battle over the country's massive deficit.
In a letter the Senate's top legislator, Geithner asked for permission to increase the national debt from the 14.29 trillion dollar limit set last year.

Geithner warned that ceiling would be reached as early as this March, and called on Congress to act to avoid the treat of default.
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US Treasury asks Congress to lift debt ceiling

Just say NO Congress. You were given the House to stop this train wreck. Get to it!
 
They should lower the debt ceiling. :lamo
 
Great idea

Watch the military grind to a halt as service members dont get paid, contractors walk off the job as they wont get paid, jets get grounded as they dont have fuel to fly them

Watch as grandma and grandpa get kicked out of the old folks home in the middle of winter and freezes to death

Watch as hospitals form death panels to kill off all the medicare patients whose bills are not longer being paid

Top notch idea, I say roll with it
 
MrVicchio said:
US Treasury asks Congress to lift debt ceiling

Just say NO Congress. You were given the House to stop this train wreck. Get to it!
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Two points:

1) The republicans won the congress based on the economy. It was the absolute top issue. Not raising the debt ceiling would almost certainly hurt the economy. So no, that is not what they where given the house to do.

B) Your solution is simplistic in the extreme. You cannot solve a problem that is 40+ years in the making in one quarter. Just cannot be done. I agree, the deficit has to be fixed. I agree, we have to start doing it now. But there are ways to do it without creating more problems than you solve. There is no easy deficit fix, and it will take time, but it is doable.

Bonus point: It's funny how alot of the same people who cried that the tax cut extension had to happen across the board are the same ones who are not a month later crying about the deficit.
 
Lord Tammerlain said:
Great idea

Watch the military grind to a halt as service members dont get paid, contractors walk off the job as they wont get paid, jets get grounded as they dont have fuel to fly them

Watch as grandma and grandpa get kicked out of the old folks home in the middle of winter and freezes to death

Watch as hospitals form death panels to kill off all the medicare patients whose bills are not longer being paid

Top notch idea, I say roll with it
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ChickenLittle.jpg
 
Lord Tammerlain said:
Great idea

Watch the military grind to a halt as service members dont get paid, contractors walk off the job as they wont get paid, jets get grounded as they dont have fuel to fly them
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I think you'd be surprised at the DoD's ability to raise money when you tell them they can't use our money to kill cavedwellers anymore.
 
Redress said:
There is no easy deficit fix, and it will take time, but it is doable.
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ummm, look at how much we've spent in the last 100 years fighting foreign wars when we've had a total of about 6,000 americans killed on our home soil due to foreign forces. then add the amount of money we pay in interest so that private banks make our money instead of our government. i think you'll quickly realize how easy it is to balance the budget.
 
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look for a reprise of the regan era republican 'starve the beast' strategy
spend the money elsewhere and insist there is nothing left to fund the social safety net
 
Redress said:
Two points:

1) The republicans won the congress based on the economy. It was the absolute top issue. Not raising the debt ceiling would almost certainly hurt the economy. So no, that is not what they where given the house to do.

B) Your solution is simplistic in the extreme. You cannot solve a problem that is 40+ years in the making in one quarter. Just cannot be done. I agree, the deficit has to be fixed. I agree, we have to start doing it now. But there are ways to do it without creating more problems than you solve. There is no easy deficit fix, and it will take time, but it is doable.

Bonus point: It's funny how alot of the same people who cried that the tax cut extension had to happen across the board are the same ones who are not a month later crying about the deficit.
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It's funny how some people here think that spending more and more borrowed money HELPS the economy, and cutting tax hurts.
 
MrVicchio said:
It's funny how some people here think that spending more and more borrowed money HELPS the economy, and cutting tax hurts.
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Strawman. I did not say cutting taxes hurt the economy.
 
ReverendHellh0und said:
ChickenLittle.jpg
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Do you expect people to work for free?

Do you expect suppliers to provide goods and services for the federal government for free?

If the debt ceiling is not raised, a large number of programs will not have money to operate (Roughly 33% of the federal government spending is funded through debt issues)
 
Zyroh said:
I think you'd be surprised at the DoD's ability to raise money when you tell them they can't use our money to kill cavedwellers anymore.
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Armed people raising money?

They perhaps wont go down to the local bank with an M1A1 asking for withdrawls will they?
 
Lord Tammerlain said:
Do you expect people to work for free?

Do you expect suppliers to provide goods and services for the federal government for free?

If the debt ceiling is not raised, a large number of programs will not have money to operate (Roughly 33% of the federal government spending is funded through debt issues)
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A large number of government programs need to be scrapped, anyway.
 
apdst said:
A large number of government programs need to be scrapped, anyway.
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Most likely quite true

But if the debt ceiling is not increased all programs will be put on hold, including the military, medicare, the FBI etc.
 
apdst said:
A large number of government programs need to be scrapped, anyway.
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I don't think any one is arguing that many/all programs need to be cut/reduced. Not raising the debt ceiling however does not do that.
 
Lord Tammerlain said:
Most likely quite true

But if the debt ceiling is not increased all programs will be put on hold, including the military, medicare, the FBI etc.
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No, they can end the wasteful programs and redirect those funds to more usueful ones. It's just like running a business.
 
Lord Tammerlain said:
Do you expect people to work for free?

Do you expect suppliers to provide goods and services for the federal government for free?

If the debt ceiling is not raised, a large number of programs will not have money to operate (Roughly 33% of the federal government spending is funded through debt issues)
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No Mr. Bond, I expect you to die!
 
Redress said:
I don't think any one is arguing that many/all programs need to be cut/reduced. Not raising the debt ceiling however does not do that.
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Yes, it would. It would force Congress to priortize spending.
 
Redress said:
Strawman. I did not say cutting taxes hurt the economy.
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No, you implied that cutting taxes was bad. And since you focused on the fantasy benefits of spending borrowed money...
 
Redress said:
You can't fix 40 years of broke in 3 months either.
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No, but we can get started in that direction, in three months. First step? Don't raise the debt ceiling.
 
apdst said:
Yes, it would. It would force Congress to priortize spending.
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Not exactly, no. It would force the government to stop spending.
 
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