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Thread: Americans Favor GOP on Budget: Poll

  1. #31
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    Re: Americans Favor GOP on Budget: Poll

    Quote Originally Posted by cpwill View Post
    excellent! so you're saying that we are actually in the best period of our history to go ahead and decide not to raise the debt ceiling
    Nice attempt to shove your agenda into someone else's post. He did not even remotely say that.

    It is interesting that debt service is at an all time low. Fortunately, even as interest rates begin to climb, the debt service will lag this as the interest rates will climb on only the new debt as our treasury took the opportunity of low interest rates to refinance much of the debt at the low rate and lock it up to 10 - 30 years.

    Not raising the debt ceiling would have the immediate consequence was forcing up interest rates on all new debt (and consequently on the economy as a whole... yes, raising interest rates is a great way to fuel growth)... so it would be a disaster.

    Moreover, its a symbolic jester as it is impossible not to raise the debt ceiling. The only way not raising the debt ceiling can work is if you have a budget with an immediate surplus in place as the debt ceiling is capped... but no one has a budget that shows an immediate surplus..... All budgets, including the Ryan plan, run deficits for years, meaning the debt ceiling must be raised. Not raising the debt ceiling is akin to shooting yourself in the foot (which we certainly know Republicans love to do)...

  2. #32
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    Re: Americans Favor GOP on Budget: Poll

    actually there is no reason to suppose that delaying raising the debt ceiling would have that effect - it hasn't in the multiple times in recent history that we have done so. But i would urge you to wonder on over to the thread on this in the economics forum.

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