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Thread: As Debt Limit Reached, Agreement Still Far Off .

  1. #21
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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by danarhea View Post
    It's not a matter of borrowing. It's a matter of paying what we already owe. Would you have the United States of America be a deadbeat?

    We have the money right now in tax recipts to service the debt, So cut the scare tactics will ya? I tell you what....You show me where there is not this money.


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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by shades View Post
    do you have any idea how this works, is is your credit card analogy the depth of your knowledge.

    raise the debt ceiling you say, you think we write a check, put money in an envelope
    what the GOP is saying is take some of the money you are about to spend, and use that to pay the debt...

    what dont you understand about that?
    I don't think you get it. Money we are about to spend? Even if we don't spend it, we still need to raise the debt ceiling in order to make good on the debt we already have.
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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by j-mac View Post
    We have the money right now in tax recipts to service the debt, So cut the scare tactics will ya? I tell you what....You show me where there is not this money.


    j-mac
    This is not scare tactics from me. This is the Wall Street Journal reporting what is actually happening. Try reading the article before you post again.
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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by j-mac View Post
    We have the money right now in tax recipts to service the debt, So cut the scare tactics will ya? I tell you what....You show me where there is not this money.


    j-mac
    exactly,
    what the GOP is trying to say is,

    we will raise the debt ceiling say 100 million,
    you show us 100 million spending cuts

    you want more, show us more...lets balance this thing, the hard way, easy was is not working

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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by danarhea View Post
    This is not scare tactics from me. This is the Wall Street Journal reporting what is actually happening. Try reading the article before you post again.
    the Wall Strret Journal, now theres an unbiased newspaper, must be true..

    and again Ill ask, whats wrong with using money in the pot to pay down the debt..

    from your analogy standpoint I would say its what you might tell your kid who ran up debt on his credit card but had money in his cookie jar..
    what you're saying is calling the credit card company and asking for a bigger line of credit..

    has to stop
    Last edited by shades; 05-16-11 at 04:08 PM.

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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by danarhea View Post
    I don't think you get it. Money we are about to spend? Even if we don't spend it, we still need to raise the debt ceiling in order to make good on the debt we already have.
    I refer back to my mortgage analogy. How can we (the fed) survive if we take out a mortgage with no way to pay for it? It's like paying your Chase credit card with your Capital One credit card. It makes no sense to keep voting out of some sort of manufactured, devised emergency, purely constructed on partisan BS.

    The fact is, people have tried to have tough talks...but whenever the attemp is made the other side stands up and says "this is more important. let's discuss your issue later and do this first" and the primary issue is pushed off again and again. It has to stop.

    "We'll do it later" will just result in this issue becoming the emergency. And when seniors stop receiving checks or start getting turned away from doctor's offices because the money's gone from those funds somebody will say "damn those (political party you oppose)...they never did anything when they were in power and now (party you support) is left trying to pick up the pieces.

    This debate has been raging for weeks and nothing was accomplished even though proposals were put forward. People sent letters, made calls, tried to involve everybody (including Obama and Biden) into getting this resolved and a compromise drummed up. It didn't happen because some people refused to meet and come up with an agreement. This time around, a lot of the foot dragging was on behalf of the dems. Previously, the repubs didn't stand up and say "wait a second, let's do this right". Both parties buggered it up, but somebody is trying to make it work now...so let them make it work.

    Stop buying into hysterics. These fear tactics that both sides are using are working way too well.
    Last edited by tessaesque; 05-16-11 at 04:13 PM.
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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by shades View Post
    do you have any idea how this works, is is your credit card analogy the depth of your knowledge.

    raise the debt ceiling you say, you think we write a check, put money in an envelope
    what the GOP is saying is take some of the money you are about to spend, and use that to pay the debt...

    what dont you understand about that?
    That's not it at all.

    The cuts necessary to stop spending more on a daily basis between now and August 2nd, would essentially require us to completely disband the military and stop every Medicare and Medicaid payment. And even them, the interest on the existing debt would still make each daily outlay greater than daily income.

    The debt ceiling has nothing to do with future spending (or spending cuts).

    The debt ceiling is the point at which the US can no longer spend what it borrows. The only response can be to not make promised payments (usually in repaying Treasury Bonds). If we don't pay on Treasury Bonds, they become worthless. The dollar collapses and the economy falls apart.

    This isn't about spending cuts, deficits, or the debt, its self. This is about paying for the sins of the past.

    If you cut up your credit card today, but kept making the minimum payment, your interest is still going to accrue. You've done a good thing by cutting up the card; but if your interest goes above your credit limit and you don't pay it, you're going to get your ass in trouble and your account will be cancelled and then, instead of payments, you will be forced to pay the whole thing in one fell swoop. Now, you can call the credit card company and ask for a credit limit extension that will prevent overlimit fees and the risk of your account being cancelled. OR you can decimate your livelihood by trying to pay off your credit balance all at once.

    You may disagree, but most Americans of all political stripes agree that we have to cut up the credit card. And we have to make more than the minimum payments on it. But none of that has to do with the debt ceiling. If we don't raise the debt ceiling, cutting spending in the future won't matter; because it will harm our economy to a degree that will only make matters unmanageable. The increase of the debt ceiling shouldn't be held hostage to specific and promised cuts. And anyone who claims that we can fix this without looking at revenues (tax increases), shouldn't be taken seriously.

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    Re: As Debt Limit Reached, Agreement Still Far Off .

    When do we say "enough"?


    58,000 dollars a second are borrowed....
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    Re: As Debt Limit Reached, Agreement Still Far Off .

    This is why we shouldn't have a debt ceiling. We can't go over it, but politicians still ignore it by just raising it when we get close to it. How is it a limit, if we can just raise it whenever. It's a load of contrived bs that they use to convince voters that they care about fiscal responsibility.
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    Re: As Debt Limit Reached, Agreement Still Far Off .

    Quote Originally Posted by FilmFestGuy View Post
    That's not it at all.
    And anyone who claims that we can fix this without looking at revenues (tax increases), shouldn't be taken seriously.
    and anyone who says the answer is to take more of my money to continue this shennagins "shouldnt be taken seriously"
    he should actually be taken out back and..but I digress

    if revenue is the answer, then create jobs.
    and you cant create jobs by raising taxes, thats just silly.

    You create jobs by giving companies incentives to keep those jobs at home.
    You create that incentive by making the opposite less appealing. Any business man will settle for making what he can make vs nothing.
    China wants to continue shipping goods to us made overseas then they pay higher taxes on the imports... or keep it..

    they call in their chips, we should have taken that first trillion in "stimulas" and payed them off...

    the stimulas did Nothing except make matters worse by prolonging the inevitable, like you're doing again..
    you keep peddling fear and we will get nowhere..

    games over kimosobi, time to get serious
    listen to the GOP on this one

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