View Poll Results: at what point do you no longer accept the premise that we have to raise the debt ceil

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  • $10T ago

    6 40.00%
  • $5T ago

    1 6.67%
  • now

    2 13.33%
  • $20T

    0 0%
  • $25T

    1 6.67%
  • $30T

    0 0%
  • $40T

    0 0%
  • $50T

    1 6.67%
  • Never!

    4 26.67%
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Thread: What's YOUR debt ceiling limit?

  1. #11
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    Re: What's YOUR debt ceiling limit?

    I'd rather see tax increases and budget cuts except in times of war. Of course, we're in a time of war right now so... I just trust the military leaders to know how much it'll cost.

    When it comes to tax increases I suggest they be focused as much as possible to interests who make money on the American people but have figured out ways to avoid paying American taxes.

    Budget cuts should largest extent possible avoid cuts in education, scientific research and things that enhance economic growth.
    Having opinions all over the map is a good sign of a person capable of autonomous thinking. Felix -2011

  2. #12
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    Re: What's YOUR debt ceiling limit?

    This isn't really a choice. Raising the Debt Ceiling means allowing the government to sell more US Treasury bonds. The debt ceiling has nothing to do with the national debt.

    I think some people view the debt ceiling as a sort of ceiling that we are allowed to spend up to. They think that by not raising the debt ceiling, we're forcing the government to spend within it's means. And that's an understandable mistake, especially since the vote on the debt ceiling is a wholly unnecessary one that exists only for political posturing.

    By raising the debt ceiling we aren't agreeing to future spending, raising the debt ceiling is about agreeing to pay for things we've already spent. Not raising the debt ceiling isn't like cancelling a credit card, it's like declaring bankruptcy.

  3. #13
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    Re: What's YOUR debt ceiling limit?

    Quote Originally Posted by Krhazy View Post
    Refusing to raise the debt ceiling just accelerates the problem of U.S. default.
    Default only happens when we cannot pay our debt service. Not raising the debt limit in no way necessitates a default.

  4. #14
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    Re: What's YOUR debt ceiling limit?

    Quote Originally Posted by Mithros View Post
    This isn't really a choice. Raising the Debt Ceiling means allowing the government to sell more US Treasury bonds. The debt ceiling has nothing to do with the national debt.

    I think some people view the debt ceiling as a sort of ceiling that we are allowed to spend up to. They think that by not raising the debt ceiling, we're forcing the government to spend within it's means. And that's an understandable mistake, especially since the vote on the debt ceiling is a wholly unnecessary one that exists only for political posturing.

    By raising the debt ceiling we aren't agreeing to future spending, raising the debt ceiling is about agreeing to pay for things we've already spent. Not raising the debt ceiling isn't like cancelling a credit card, it's like declaring bankruptcy.
    None of this is true.
    -The deficits, and thus, the debt, is financed thru the sale of T-bills. No more T-bills = no wa to run a deficit = no increase in debt.
    -Not raising the debt ceiling does force the government to live within its means because it cannot borrow more money.
    -Not rasing the debt ceiling is not opening a new credit card whenr the others are maxed, and as such is certainly not bankruptcy.

  5. #15
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    Re: What's YOUR debt ceiling limit?

    Quote Originally Posted by H. Lee White View Post
    Default only happens when we cannot pay our debt service. Not raising the debt limit in no way necessitates a default.
    The only way to avoid default is to fix the deficit while continuing to make payments on the debt. Refusing to raise the debt limit doesn't fix the deficit and jeopardizes our ability to make payments on the debt, making default much more likely. Especially during a time of great polarization and obstruction in Congress.
    Last edited by Cameron; 11-14-12 at 01:04 PM.
    (avatar by Thomas Nast)

  6. #16
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    Re: What's YOUR debt ceiling limit?

    Quote Originally Posted by Krhazy View Post
    The only way to avoid a default is to fix the deficit.
    The only way to avoid a default is use available revenue to pay the debt service. We have -more- than enough revenue to do that.

  7. #17
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    Re: What's YOUR debt ceiling limit?

    Quote Originally Posted by H. Lee White View Post
    That is, at what point do you no longer accept the premise that we have to raise the debt ceiling?
    Please be sure to explain your response.
    We once borrowed $65,000 to buy a home. That's the last time we carried any debt. Living beneath one's means is a wonderful thing. More people should do it.

    What?? No big screen on the charge card? No more fancy vacations I'll still be paying for next year? I don't expect the majority of people will ever learn. But the smart ones will.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

  8. #18
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    Re: What's YOUR debt ceiling limit?

    Quote Originally Posted by MaggieD View Post
    We once borrowed $65,000 to buy a home. That's the last time we carried any debt. Living beneath one's means is a wonderful thing. More people should do it.

    What?? No big screen on the charge card? No more fancy vacations I'll still be paying for next year? I don't expect the majority of people will ever learn. But the smart ones will.
    Same here. We owe on our home and my car. Nothing else. Cash for everything.

  9. #19
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    Re: What's YOUR debt ceiling limit?

    I didn't answer and would think that by now people would have figured out it doesn't matter what we think.

    The debt is never going to stop growing. Rather, it will inevitably be chased by reductions in the value of the dollar (inflation) to limit the actual value of the debt. In short, everyone but Obama's favored super rich will continue to be poorer in real spending power.

  10. #20
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    Re: What's YOUR debt ceiling limit?

    Quote Originally Posted by MaggieD View Post
    We once borrowed $65,000 to buy a home. That's the last time we carried any debt. Living beneath one's means is a wonderful thing. More people should do it.

    What?? No big screen on the charge card? No more fancy vacations I'll still be paying for next year? I don't expect the majority of people will ever learn. But the smart ones will.
    Maggie - you deserve both the big screen and a nice vacation. Go for it!!!!!

    Having said that - one of the best days in my life was the day I sent in my final house payment a few years ago. There is something very very liberating about that. The only time I use credit now is when I can do so interest free like last year when we remodeled the bathroom upstairs and got 18 months free interest. Why write the check up front when you can use their money for 18 months. I send in those checks religiously and will have that paid off in a few months. And if feels even better when i kick back in that spa jacuzzi tub we had put in.
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