debt ceiling

I find it ironic that they're telling us that in order to make these payments, we've got to charge MORE onto our collective credit card! The U.S. is facing bankruptcy specifically BECAUSE they've been able to raise the damn debt ceiling every year for as long as I can remember now.

It's like paying off one credit card with another, and then again year after year but never making any headway.

You can't spend your way out of a debt crisis. Ask the PIIGS (Portugal, Italy, Ireland, Greece and Spain) how that idea is working out for them... Hint: It's not.

Suzi10 wrote: They know its impossible. They're just trying to make it jog on a while longer. Until it looks like it may happen after the party in power loses. Then they will speed up the crash.

The sad thing is, Suzi, that it's not just one party that is at fault for this, it's BOTH of them!

The debt ceiling is little more than a political football. Every time it comes up the Numbnuts Democrats trot out all the people that are going to get pushed out on the street or eaten by lions if the ceiling isn't raised, and the retard republicans drag out all of how they fought the good fight against the eeevil Democrats, but alas were forced to again raise it. It's a scam, they *ALL* want it raised because how else are they going to waste more of our hard earned money? If they're just going to raise the damn thing every year anyway, why not just remove the debt ceiling altogether?

I had hope that the freshman representatives from the "Tea Party" might decide to go ahead and prevent the ceiling from getting pushed higher, but I don't think they will... Cowards. It's specifically *WHY* they were elected. They're nothing more than Republicans, who are the same as Democrats with different feathers.

Some day that fiddler is going to demand his due. We can't go on spending this way. We're, right now, at nearly 75% of our GDP. By 2020 we're going to be at 100%! That is totally unsustainable.

Yeah, Flumom, that quote I've seen penned under a number of names. Everything from Alexis to Alexander Tyler. It's been widely criticized based on Ad Hominem, but that does not make those words any less true.

Typically the far Left likes to criticize that quote, but are unable to refute it, and that makes it funny to see them try. Ad Hominen is really all they've got.

The sad thing is that you can see exactly where we are in that series of events. It was specifically illustrated in the election of Zer0. (Barack Obama) Remember the woman, Peggy Joseph, screaming that Barack Obama is going to put gas in her car and pay her mortgage/rent? These people truly believe that! Thankfully Zer0 wouldn't be able to produce that kind of capital and her pipe dreams are little more than a fantasy, but that doesn't mean that he's not trying his hardest. (Porkulus, Obamacare, etc)

The problem is that the road to ruin for our country has been started and I have no idea how it's going to be stopped. I firmly believe that the Republicans will do their best to snatch defeat from the jaws of victory! They're going to somehow try to justify nominating Mitt Romney to run against Zero! Those two are two sides of the same coin and we need someone better qualified. I'd love to see Herman Cain curbstomp that Piece of BLEEP Zer0 right out of the Whitehouse, but there is no way the Republicans would nominate anyone who understands business and real fiscal policy. Obama is going to get re-elected, and our country isn't going to look anything like the sad state we're in now. It's going to be a total disaster.

The Democrats are hell bent on bankrupting the country and the Republicans are either spineless or in cahoots. It's why I've invested in Brass, Copper, Steel, and Lead.

Great video Mahshadin!

I'm impressed that people are starting to wake up and smell the stink of male cow crap coming from the Fed.

sleusha wrote: Make the wealthy pay their fair share of taxes, stop all tax credits immediately, raise the debt ceiling, pull our troups out of the middle east.  We need to stop micromanaging the middle east and manage our own country appropriately.

Describe for me, "Paying Their Fair Share." The top 5% of earners already pay more than 70% of all taxes taken in. The lower 50% pays almost nothing.

Do not raise the debt ceiling. Why even have a debt ceiling when they just raise it every single year? Raising the debt ceiling is EXACTLY why we're in the mess we're in right now.

As for tax credits, I agree wholeheartedly! They should then make it a flat tax, but that'd never happen because then the elite rich people wouldn't have a billion and two loopholes through which to hide their money.

We totally need to manage our country appropriately.

President Obama discussed the debt ceiling in a White House press conference Wednesday. He was overtly critical of the Congressional Republicans who are unwilling to raise the debt ceiling and hesitate at elevated tax revenue. Obama suggested congress shout "address their sac red cows" and "get it done.". Predictable, responses to the conference have been split along party lines. The proof is here:Obama blasts Republicans on debt ceiling.

I mean what do you think about our future.

Kilt2 wrote: Suzi10 wrote: I mean what do you think about our future. The USA is in a Secular Bear Market and a Post Bubble Economy - and the last time they came together was the Great Depression. You are going into a Great Depression - which alwasy happen with massive debt. You wasted money on crap to please the voters who must learn to take care of themselves. Toxic debt is the problem from borrowing money to buy crap. Stop buying crap and pay off your debts. Then - according to Kondratieff, we can have a World War. Your future is the future of the world - it is grim. We are all tied together.

*CRACK* Homerun!!!!

The crowd goes wild! KILT WINS, KILT WINS, Oh My God KILT WINS!!!

You're a Digger aren't you Kilt? I don't know how things are down under, but up here, us Yanks are now facing off against a really interesting situation! We're looking at more than half of our population is suckling at the government teet! I want to say we're at around 55% of our total population and they all are going to continue voting themselves money out of government coffers. Barack Obama's going to get re-elected specifically because of what he's going to say he's going to give all these people.

You can tell them all day and night that the easy money, milk and honey is over and they'll STILL demand that you give them money.

We had quite an interesting deal happen in Wisconsin. You've got the big labor unions and the leeches/moochers go crazy because a small fraction of their government largesse was getting taken away, but they were making nearly TWICE what an average worker in the private sector does! They were told specifically that the state didn't have enough money. Their choices were either to cut some of the luxuriant benefits or start firing people so the governor chose to cut some of the benefits. No matter what choice he made, they'd have freaked out and there simply was not enough money for both choices. At least some people got to keep their jobs...

The debts are never going to get paid off. Eventually we're going to default in a MASSIVE way and, mark my words, it is not going to be pretty. We may default if the debt ceiling does not get raised, but it's either now off a house,  or later off a skyscraper.

Turbo - yes an Aussie here (a Digger is an Aussie infantryman - but I took that as a compliment).

I am familiar with the work of ND Kondratieff and I think his theory of the long wave is exactly right.

This mess was made by Clinton I believe and will take years to fix - only a war will sort it out - a real one.

What will happen to mortgages on homes when no one can pay? Will someone come and tell us to get out?

FluMom wrote: Kilt2 in today's situation people will not go for a "war" to cure our financial problems. People are not that stupid to support a war to get out of a depression. They were in the 1940's but not today. This is going to get really nasty!

People went for an asset bubble that was hot air - the Tech Bubble.

People went for a peak war - the Iraq War.

People went for the Plateau and the Housing Bubble.

People went for the SubPrime and debt bubble.

And now, as countries go broke, and Obama is spending like a drunken sailor and trying to solve a problem made with spending and debt, with still more spending and debt, the US is is a worse state than Greece, who has just been downgraded as "junk".

So seeing as people were stupid enough to do all that other stupid stuff I has listed above - all the Kondratieff Wave - then I have no doubt at all, that people are stupid enough to have a trough war just as they had a peak war.

Never underestimate the stupidity of people. The K-wave has happened 4 times in the last 200 years, and each wave had the same stages and a peak war and a trough war. The last trough war was WWII.

The next world war will be a doozy. People will be stupid enough for it, as they have been for everything else.

VIDEO - Obama On The National Debt In 2007...
dailybail.com/home/?currentPage=4

Michelle Malkin » Obama: If We Don’t Get a Deal, I Can’t Guarantee We Will Be Sending Out Social Security Checks on August 3rd

 

http://michellemalkin.com/2011/07/12/obama-social-security/

 

Obama: If We Don’t Get a Deal, I Can’t Guarantee We Will Be Sending Out Social Security Checks on August 3rd

By Doug Powers  •  July 12, 2011 03:18 PM

**Written by Doug Powers

He could have said something like “If a deal isn’t made there will of course be a problem paying for Social Security in the long term, but in the short term I have many options as far as shuffling dollars around to fund high priorities, so I can say with confidence that Americans who depend on Social Security will still get their checks for the foreseeable future while we sort this out.” But Obama didn’t say that.

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Comments from this article.

 

On July 12th, 2011 at 3:49 pm, Truesoldier said:

Marc Rubio also pointed out that the Senate Republicans have crafted a bill that would prioritize payments if the debt ceiling is not raised, but admitted he doubt that Reid would allow it to come to the floor.

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Obama and his minions have stated that Social Security is solvent until 2037…thanks to Obamacare or something.

Yet, suddenly the “coffers” have no money for seniors and the military (this is the third time for this threat, can’t they do any better and actually hold a real old person hostage?). This emperor with no clothes has threatened this three times this year! Disgraceful. Shameful. Arrogant. Narcissist. Fool.

The GOP needs to shout this from every network (ok, FOX) that it is Obama who is lobbing empty threats at seniors and the military like a toddler in a tantrum.

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On July 12th, 2011 at 4:05 pm, corkie said:

On July 12th, 2011 at 3:47 pm, John Deaux said:

So what happened to that lock box?

On July 12th, 2011 at 3:48 pm, Truesoldier said:

Marco Rubio had a great response to that on Rush today. to paraphrase what he said: seniors should be asking the President why can’t he gaurantee their checks seeing that the American taxpayer has never stopped paying social security taxes.

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On July 12th, 2011 at 3:38 pm, corkie said:

“I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it,” Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.

So Obama is saying that new debt is needed in order pay social security obligations? Or is he admitting that the federal government takes your social security withholdings and uses it for other purposes?

#8

On July 12th, 2011 at 3:38 pm, Gem said:

Wasn’t this 'administration' just employing the ‘new tone’ and calling out the GOP for “holding a gun to America’s head” over the debt ceiling issue??

What the heck does he consider this…
making seniors an offer they can not refuse?

Do progressives EVAH get tired of projection and doublespeak?

#9

On July 12th, 2011 at 3:39 pm, John Deaux said:

Wow, that Scott Pelley knew to ask a question that would deliver a provocative response that should scare every senior citizen into calling their Congressman and demanding they capitulate to Obama.

Weird, huh? Almost like it was planned.

How about it seniors? Do you like being used as a tool by Obama? How do you feel about privatization now?

#10

On July 12th, 2011 at 3:40 pm, corkie said:

On July 12th, 2011 at 3:29 pm, PurpleHaze said:

The Dems will stop the SS payments and blame the Republicans. The MSM will back them up.

Of course the MSM will back them up, but I’m not sure the American people will buy it. Everyone that gets a paycheck knows that social security is supposed to be separate. The American people will know that the Democrats are simply punishing seniors because they didn’t get to raise taxes.

#11

On July 12th, 2011 at 3:42 pm, TooMuchTime said:

So Obama is saying that new debt is needed in order pay social security obligations? Or is he admitting that the federal government takes your social security withholdings and uses it for other purposes?

Bingo!

corkie, you get today’s Blue Ribbon!

On July 12th, 2011 at 3:43 pm, Lindsay said:

Wasn’t this the big threat when they were going to have a government shut-down a few months ago? You know, seniors will die (Nancy Pelosi said?) and veterans and the military will not be paid if the government shuts down? Then the GOP caved.

Hostage situation. The GOP are consorting and negotiating with terrorists.

NO. GOP: Do not cave.

http://www.thegatewaypundit.com/2011/07/obama-i-may-not-send-out-social-security-checks-if-i-dont-get-to-raise-taxes/#comments

SEE CBS VIDEO

 

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Obama told CBS today that he can’t guarantee that social security checks will be mailed out if he doesn’t get his way.

From the video:

President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.

“I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it,” Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.

Obama and democrats want to raise taxes to pay off his historic debt

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Comments from article:

Is that so Mr. President? Please explain then how according to the most recent DTS the YTD (fiscal) amount paid out on Social Security is $469 billion, well below the amount collected from Federal Tax Deposits of $780 billion.

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Will Tiny Tim stop the remittances to illegal aliens?

Btw, the debt ceiling talks began LAST NOVEMBER. Need I remind you which party had control of all three branches of government? Apparently it wasn’t high on their priority list. They were too busy GUTTING Medicare of $500 Billion.

This just irks me, the statement about not paying the SS. Ever since Obama came on board he almost immediately (that May after coming into office) increased Food Stamp benefits to single males, they used to be able to get them for 3 months if they were not working, now they can get them indefinately. So overall, I wonder how much that has cost the tax payers?

God forbid if the Undertaker and Chief has to answer a question or two without the benefit of a his teleprompter or rehearsed nonsense about FOLKS just wanting big government to work thing out, so they can collect their government cheese on time.

No yelling at Obama today!
www.politico.com/politico44/perm/0711/shout_of_bounds_729191ad-6922-4221-8711-77a68d3802df.html

Some of the comments from the article above are classic!

What planet was this poll taken on?

Obama: Public is 'sold' on tax increases in a debt-ceiling deal
thehill.com/homenews/administration/171743-obama-public-sold-on-tax-increases-in-debt-ceiling-deal

Why not go for 40%. Schools could start 6 weeks later. Think of the savings in energy alone. Teachers could take a pay cut better than losing their job. Kids would learn just as much. Teachers could assign research projects on the schools websites. This push for more, more, more is just a way to control people.

Guys I know some of these Senators and Congressmen they will come up with a last minute solution. NONE and I mean NONE of them will default they will not risk their "power" by getting people mad and not getting re-elected. All Dems and Repubs are all power hungry and they will not risk losing THEIR JOBS. They just don't care if 18 million Americans are out of a job.

Oh, by the way the solution will be short term not long term solution and they will make it look like both sides have given a little but I will guarantee it will be very little.

They have all spent our SS money that has be taken and over the years and now they want to say it is our fault. They have had years to come up with a solution. My Mama says, "What you don't see you will feel."

johnpeterson wrote: With the August 2 deadline for a conclusion on the nation's debt ceiling closer than you think, President Obama walked out on high-pressure discussions Wednesday stating "I've reached my limit.". The nation could face economic devastation if it defaults on debts and gets a reduced credit rating.Obama walks out of debt ceiling debate saying he has reached his limit.At this time, Obama is on the side with Congressional Democrats in opposition to Congressional Republicans. They are discussing the debt ceiling increase. The debt that the government is allowed to acquire before it must stop is the debt ceiling. It is extremely essential.

No, it's really not. 

They're going to downgrade the United State's credit rating no matter what we do. The Debt to GDP ratio is going negative at an alarming rate.

And what do we gain if the debt limit is raised? More inflation? More spending of money that we don't have? More foreign countries buying up our debt to later use as a weapon against us?

If we don't raise it, it'll force our government to live within its means and finally get responsible about our finances. Why even have a limit if every time we get close to it, we raise it again? That's like paying off a credit card with another credit card, and tomorrow paying off that credit card with yet another one. It's simply not sustainable.

I'm not Turbo but all the SS money went to the General Fund it pays for all the foreign aid, all those people working in all those big buildings in D.C. and Virginia, all the pet projects Senators and Congressmen put into their districts, travel for politicians and all of the people who work for the governemnt.

We all pay federal gas tax...now do you see any federal highways being built...no...do you see federal repair trucks out on the federal highways doing repairs...no. So for every dollar we send in federal gas tax from the states the states get only 40 cents back. So where does the 60 cents go... D.C. is a shell game.

We need to get rid of all the Senators and Congressmen in the next election...Don't care if Dem or Repub replace them in each election cycle until they balance the budget!!!!

I also heard news about debt ceiling. This just proves that countries all over the world are experiencing financial crisis. The United States may lose its top-notch credit rating if the debt limit is not elevated and the nation is pressured to default on commitments. A downgrade in score will trigger a ripple in the economy impacting the finances of the average resident. Citizens may not even have the opportunity to use personal loans anymore if this ripple takes place.