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Thread: Republican Party unity cracks over raising $14.3 trillion debt ceiling

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    Student Zyroh's Avatar
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    Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Republican Party unity cracks over raising $14.3 trillion debt ceiling

    The Republican Study Committee (RSC) introduced legislation on Wednesday that it says would allow the Treasury Department to avoid a default on U.S. debt without expanding the borrowing limit.
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    The legislation “ensures America’s debt rating and the threat of default on our debt cannot be used as political weapons,” said RSC member and co-sponsor Rep. Scott Garrett (R-N.J.). “This bill will remind the markets and the world that America will never default on its debt while giving Congress time to have a meaningful, reasonable discussion about how to rein in out-of-control spending.”
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    The RSC’s Full Faith and Credit Act would require the Treasury to pay principal and interest due on public debt before making any other payments. Sen. Pat Toomey (R-Pa.) has introduced companion legislation in the Senate.
    we've all had our points in at some time on whether or not to raise the debt ceiling, now the real question for those that don't want to raise it any more: do you really want to continue to pay the lenders to this country at the expense of the poorest americans that rely on government handouts? if so, i suggest you look at why people are rioting and setting themselves on fire in tunisia, egypt, and saudi arabia right now. why ireland and greece are almost at a state of anarchy.
    Last edited by Zyroh; 01-26-11 at 10:17 PM. Reason: fat fingers
    Democracy is two wolves and sheep voting on what's for dinner. Liberty is a well armed sheep willing to contest the vote.

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    I don't understand why we even have to go through these theatrics every few months or so. When I'm on a budget, I don't get to raise it whenever I want. Congress, either stick to the limit and cut the deficit or eliminate the limit. I hate massive deficits, but I hate contrived bull**** just as much.
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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by DrunkenAsparagus View Post
    I don't understand why we even have to go through these theatrics every few months or so. When I'm on a budget, I don't get to raise it whenever I want. Congress, either stick to the limit and cut the deficit or eliminate the limit. I hate massive deficits, but I hate contrived bull**** just as much.
    the question is if you quit paying bond holders or quit paying government obligations such as food stamps, social security, medicare, defense. i just want to know if people are willing to cut off the poor and let the riots commence so that china, japan, calpers, pimco all keep collecting their government checks.
    Democracy is two wolves and sheep voting on what's for dinner. Liberty is a well armed sheep willing to contest the vote.

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    Sage

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    there is little doubt that ultimately my party will agree, surely closer to the end of the game than the beginning, to yet another hike in the ceiling

    you are also correct to point out that this is the most problematical of our particular platforms

    the only real question is what my side will DEMAND in return

    let me assure you, it will be SUBSTANTIAL

    enough to placate the preponderance of our more principled tea party membership who are far more hip to power and realpolitik than most presume

    precisely our approach is still open to planning, we have, it is true, still not committed

    it's not time

    i could tell you today what our chips are likely to be, but i don't want to, it's not in my interest

    you'll see in due course

    it will, as always, be up to the electorate to decide whom they deem the more fiscally responsible, their approval or reproach for the various players involved

    i'd hate to be in the president's or pelosi's penny loafers, for example

    party on

    good post
    Last edited by The Prof; 01-26-11 at 10:48 PM.

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by DrunkenAsparagus View Post
    I don't understand why we even have to go through these theatrics every few months or so. When I'm on a budget, I don't get to raise it whenever I want. Congress, either stick to the limit and cut the deficit or eliminate the limit. I hate massive deficits, but I hate contrived bull**** just as much.
    Of course our government can raise the debt ceiling. Why? Because they have this process called monetization of the debt. That's what it's called when the government prints money. When you or I do it, it's called counterfeiting. Go figure. LOL.
    Last edited by danarhea; 01-26-11 at 10:52 PM.
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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by Zyroh View Post
    the question is if you quit paying bond holders or quit paying government obligations such as food stamps, social security, medicare, defense. i just want to know if people are willing to cut off the poor and let the riots commence so that china, japan, calpers, pimco all keep collecting their government checks.
    You can cut in plenty of places. Our spending used to be a lot lower, and the Proletariat was not raising the barricades. Of course these cuts need to be done in a well thought out manner, and simply cutting to cut won't solve much. However, we have to face up to the reality that our fiscal course is not sustainable.
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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by The Prof View Post
    it will, as always, be up to the electorate to decide whom they deem the more fiscally responsible, their approval or reproach for the various players involved
    see, this is the only problem i have prof. we don't get much of a choice as far as fiscally responsibility goes. the last senate vote of '10 was a 100-0 vote on the full defense budget. neither the president nor the republicans are proposing a cut in entitlements. do we really get a choice of fiscal responsibility? you mention some concessions in exchange for the ceiling hike, and when that happens we may have a different choice, but until that happens every time anyone believed a politician was gonna be fiscally responsible, or provide an avenue other than 'cuts in nondefense, discrescenary spending' or 'raise everyone's taxes', they were disappointed.
    Democracy is two wolves and sheep voting on what's for dinner. Liberty is a well armed sheep willing to contest the vote.

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by DrunkenAsparagus View Post
    You can cut in plenty of places. Our spending used to be a lot lower, and the Proletariat was not raising the barricades. Of course these cuts need to be done in a well thought out manner, and simply cutting to cut won't solve much. However, we have to face up to the reality that our fiscal course is not sustainable.
    during these times of lower spending sans riots did we have 25% underemployment? did we have 2 public wars and a dozen private wars? did we have double digit food price inflation? i agree that we do a good job keeping the rioting to a minimum around here, but people won't care too much that they have beer and football if their kids are starving.
    Democracy is two wolves and sheep voting on what's for dinner. Liberty is a well armed sheep willing to contest the vote.

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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by Zyroh View Post
    during these times of lower spending sans riots did we have 25% underemployment? did we have 2 public wars and a dozen private wars? did we have double digit food price inflation? i agree that we do a good job keeping the rioting to a minimum around here, but people won't care too much that they have beer and football if their kids are starving.
    If they don't have an honest job, they can always become politicians. All they have to do is learn to lie with a straight face.
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    Re: Republican Party unity cracks over raising $14.3 trillion debt ceiling

    Quote Originally Posted by Zyroh View Post
    Republican Party unity cracks over raising $14.3 trillion debt ceiling



    we've all had our points in at some time on whether or not to raise the debt ceiling, now the real question for those that don't want to raise it any more: do you really want to continue to pay the lenders to this country at the expense of the poorest americans that rely on government handouts? if so, i suggest you look at why people are rioting and setting themselves on fire in tunisia, egypt, and saudi arabia right now. why ireland and greece are almost at a state of anarchy.
    Keep playing the "gov't has to care for people game" and we'll continue to fall off the map in debt.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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