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Thread: The Debt Ceiling Is a Noble Idea

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    The Debt Ceiling Is a Noble Idea

    The Debt Ceiling Is a Noble Idea - Daniel Indiviglio - Business - The Atlantic

    The Real Disgrace: The Political Process

    And yet, that's exactly what's happening right now. The argument against the debt ceiling goes something like this: it's crazy that there's a debt ceiling, because it may cause the U.S. to default when there are plenty of investors who are perfectly happy to buy more debt from us. It makes the nation look like it's in as dire straits as other countries that actually cannot borrow more money because their creditworthiness is trashed.

    So is the debt ceiling a horrible idea after all? Blaming the debt ceiling for the problems that Washington is experiencing right now is sort of like blaming a gun for murdering someone. The debt ceiling was merely an object through which the real problem manifested itself. The potential poison is not the debt ceiling, but the political process itself.

    If the U.S. ends up defaulting later this year, it isn't because a debt ceiling is in place -- it's because Congress couldn't find a way to agree to a plan that would raise the ceiling while ensuring that the unsustainable path of U.S. borrowing eventually comes to an end. The problem is politics, not the law.

    And what so many now consider poison may turn out to be an antidote. If the debt ceiling debate does lead to a massive long-term deficit dwarfing agreement, then the debt ceiling did what nothing else has managed to: it may force Republicans and Democrats to agree to spend at a rate close what they obtain in tax revenue. Washington actually moving towards a balanced budget would be a pretty miraculous achievement.
    Maybe it should just be killed. It makes more sense than all the sturm und drangst bull**** of the past several weeks. Then we can return to the republicans refusing to budge without the Sword of Damocles hanging over us.

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    Re: The Debt Ceiling Is a Noble Idea

    And in new "look who else has his head up his ass" news,

    But GOP Rep. Paul Broun of Georgia is upping the ante. In National Review Online yesterday, he called for lowering the debt ceiling.
    Thinking Outside the Box: Let’s Lower the Debt Ceiling - By Paul Broun - The Corner - National Review Online

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    Re: The Debt Ceiling Is a Noble Idea

    Yes, doing away with the Debt Limit is a brilliant idea! Let's take any impediment to borrowing and just watch our fiscal responsibility soar! LOWERING the debt limit is just crazy talk... I mean, lowering the amount of borrowing? That's plain old insane!

    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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    Re: The Debt Ceiling Is a Noble Idea

    Quote Originally Posted by MrVicchio View Post
    Yes, doing away with the Debt Limit is a brilliant idea! Let's take any impediment to borrowing and just watch our fiscal responsibility soar! LOWERING the debt limit is just crazy talk... I mean, lowering the amount of borrowing? That's plain old insane!

    Then I'm one of the looney's.. No not the Canadian dollar type either.

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    Re: The Debt Ceiling Is a Noble Idea

    The debt ceiling is akin to a credit card limit, getting rid of it would be insane.
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: The Debt Ceiling Is a Noble Idea

    It doesn't make much sense to me to have it really, since it's congress who has the power of the purse in the first place. If they want to spend they'll just vote to raise it anyway.

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    Re: The Debt Ceiling Is a Noble Idea

    Quote Originally Posted by CarlF View Post
    It doesn't make much sense to me to have it really, since it's congress who has the power of the purse in the first place. If they want to spend they'll just vote to raise it anyway.
    If it was that easy it would have been done by now.

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    Re: The Debt Ceiling Is a Noble Idea

    Quote Originally Posted by 1Perry View Post
    If it was that easy it would have been done by now.
    It's only become more difficult very recently, they've raised it countless times in the past, how do you think we got 100 percent of the GDP in debt? If it wasn't there the republicans would still be demanding decreases in the deficit and if they refused a democratic plan we'd still default.

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    Re: The Debt Ceiling Is a Noble Idea

    In my experience, imposing arbitrary limits on yourself is a waste of time -- like, I'll eat a cake now, and take a walk later.

    If the American people want to control our deficit levels, we have to develop qualities of character that include the cultural and political habits that enable such a policy to succeed.

    Trying to legislate around our vices with a "debt ceiling" is pointless and won't secure the future of our economy or country.
    If you notice something good in yourself, give credit to God, not to yourself, but be certain the evil you commit is always your own and yours to acknowledge.

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    Re: The Debt Ceiling Is a Noble Idea

    What happens if you lower the debt ceiling while already above it? Divide by zero, government blue screen of death?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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