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

Voters
15. You may not vote on this poll
  • $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. #1
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    What's YOUR debt ceiling limit?

    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.

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

    We should have never subsidized the failing markets or tried to bolster real estate/401K prices. It keeps people from going back to equity in their investments as they should.

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    Re: What's YOUR debt ceiling limit?

    None of the above, shouldn't be allowed to deficit spend at all.

    "Debt ceiling" should be progressively lowered. Congress should be required to pass an annual budget that is at the very least balanced but we should be running a surplus and doing nothing with it except for paying down that debt.

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    Re: What's YOUR debt ceiling limit?

    I chose $10T ago but that's anly because that answer was as close to 10% of prior year GDP as the choices allowed.

    I don't have a problem with sovereign debt and understand that some public debt is necessary but it also needs to be manageable debt. If we are wholly unrestrained in printing dollars then the dollar is worthless.

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

    You cannot simply not raise the debt ceiling.

    Thats like saying I owe 20,000 on my credit card but I refuse to pay more than 10,000.

    The debt ceiling isn't how much I am willing to borrow - it is how much I have already borrowed.

    Refusing to raise the debt ceiling amounts to not paying your debts. Your credit rating goes down - the interest rate, and therefore the cost of your debt, goes up.

    You cannot make your financial situation better by refusing to pay your bills.
    Time flies like an arrow; fruitflies like a banana. - Groucho

  6. #6
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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.

    I misread the question and chose the wrong answer. I chose never when it should have been 10T ago.

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

    ZERO DEBT LIMIT. If we don't have the money, we don't spend it. Doesn't really sound like it's a difficult concept to understand so far as I'm concerned.

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

    Quote Originally Posted by rjay View Post
    You cannot simply not raise the debt ceiling.
    Sure you can. Its always an option.

    Thats like saying I owe 20,000 on my credit card but I refuse to pay more than 10,000.
    No, its not. Its like saying that you owe 20k on your cards and cannot borrow more.

    The debt ceiling isn't how much I am willing to borrow - it is how much I have already borrowed.
    Incorrect. Its only an issue because the government wants to borrow more -- if that were not the case, the debt wold not need to go up.

    Refusing to raise the debt ceiling amounts to not paying your debts.
    Again, incorrect - not borrow more money in no way means the government cannot pay its debts.

    Your credit rating goes down - the interest rate, and therefore the cost of your debt, goes up.
    Our credit rating went down after the last limit hike - what happened to the bond rates?

    You cannot make your financial situation better by refusing to pay your bills.
    The government -can- pay its "bills" w/o borrong more money.

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

    Quote Originally Posted by rjay View Post
    You cannot simply not raise the debt ceiling.

    Thats like saying I owe 20,000 on my credit card but I refuse to pay more than 10,000.

    The debt ceiling isn't how much I am willing to borrow - it is how much I have already borrowed.

    Refusing to raise the debt ceiling amounts to not paying your debts. Your credit rating goes down - the interest rate, and therefore the cost of your debt, goes up.

    You cannot make your financial situation better by refusing to pay your bills.

    I think the general idea is to cut spending elsewhere to pay onto the debt, not stop paying your debts. It much like paying your credit cards minimum monthly payment but having such high interest that your balance actually increases every month. At some point you have to make changes or it will swallow everything.

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

    Refusing to raise the debt ceiling just accelerates the problem of U.S. default. The problem is the deficit. Not raising the debt ceiling doesn't solve the deficit, it just triggers, in a likelihood, a Great Depression. Good luck paying off the debt then.
    (avatar by Thomas Nast)

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