It's a new year and raising the debt ceiling is being considered again in Washington. The Obama administration warns that the results would be catastrophic if the ceiling isn't raised.
George Washington once said "you don't bailout debt with debt". This quote tells me that if my household budget is in the negative each month then I probably shouldn't be trying to use credit cards to pay my bills because I am just digging a deeper hole. Instead maybe I should cut my expenses by doing things like taking my lunch to work instead of eating out, downgrading to basic cable, cutting back on shopping and entertainment, letting my kids get after school jobs instead of giving them money. I could then use the money I am saving to pay down my debt. That makes sense, you say, because like me you have probably had to do things like this at one time or another. Unfortunately there are still politicians in Washington that don't get this.
Raising the country's debt ceiling is the same as asking for an increase of the spending limit on your credit cards so you can continue to use them. It does nothing but dig us into a deeper hole. It is past time for the federal government to do what many American households have already done and cut spending.
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the debt ceiling, just under GWB was raised 14 times without a peep from anyone. Get your economic facts straight. If you truly "love your country" don't drive it into the ground by making it default on it's debt. It would pay to take Economics 101 a few more times. Miss a payment, interest rates go higher, lenders (china via WalMart) won't lend you money. it is most unpatriotic to do everything possible to undermine a POTUS just because he is--not your color.
ReplyDeleteAnonymous, how original of you to try to make this a race issue. Your intelligence or lack thereof, really shines through with that comment.
ReplyDeleteYou are correct though in the fact that GWB raised the debt limit several times while in office but I believe the number was actually five instead of 14. And there was a "peep", from then Sen. Barack Obama who in 2006 stated that raising the debt limit was a sign of bad leadership and added that our country has a spending problem. What then Pres. Obama said was true then and it is true today.
Evidently you are the one in need of an economics lesson so here goes;
1. Not raising the debt ceiling will not cause our country to default on it's debt. The only way to default on debt is by not paying what you owe.
2. There are two ways to reduce current debt, reduce spending and bring in more revenue. (If you think that I believe raising taxes is in order I'm not)
3. Economic rules are ultimately the same in the public sector as they are in the private sector.
And on the topic of patriotism. If you truly "love your country" you will start thinking for yourself instead of regurgitating what the political parties and mainstream media feed you.
Maybe if all your republican friends would close certain tax loopholes then we would have the extra revenue to offset entitlement cuts. But noooo, they all make pledges to Grover Norquist who is trying to brainwash the public into thinking that closing tax loopholes and eradicating corporate subsidies is equivalent to "raising taxes."
ReplyDeleteWhy are we electing these spineless politicians that sign ridiculous pledges anyway? The only pledge they should make is to the constitution and the people they represent. Not some PAC.
If Bank of America and General Electric actually paid their dues we would be a lot better off:
http://blogs.suntimes.com/sweet/2011/03/ten_giant_us_companies_avoidin.html
Your analogy is great for individuals. Unfortunately, most of it cannot work for a 300m person "Family", because we are all in this together. The main thing that needs to be done is to shrink National teet. Persons on welfare that can work, have too many babies and the like must be stopped. But you cannot cut out the Retired Worker, or the
ReplyDeleteDisabled. We must stop the funding of Wars for Oil or Retribution that only serve special interests. We cannot support the World any longer until our own house is in order. The parts of your analogy that can work is that when my Family is in financial trouble I work 2 jobs, I made the debt I must get more income to pay it down if it is too big and I do not want to lose my house. We must get more income through more taxes, I am sorry it hurts the back of the wealthy, but we are a Family and they have enjoyed 11 years of Bush Tax cuts and it must stop. We must all pitch in, close loop holes and become Energy Independent. The big oil companies can make money selling here, we do not need to import so much oil. It is time for tough decisions. We have come together as a Country before, we should do it again. And in closing, I am not an Obama supporter, Independent in every way, beholding to NO select party affiliation, simply a 62 year old American who wants to help his Country be what it was in the 1950's.
Hey, Tea Party. A foreign navy boarded an unarmed ship flying the flag of a NATO member in international waters and shot dead an American citizen with four bullets to the head and one in the chest on Memorial Day. It did this while the head of the belligerent state was on his way to a state visit to Washington, DC, to be awarded a further $200 million in aid on top of the $3 billion of American taxpayer money the US gives away to him every year.
ReplyDeleteIf you are not upset by this, your tea is weak, man. Weak.
Love your remarks David! Definitely spot on! I don't understand why politicians can't see the obvious solutions like a normal person who has to budget. Unfortunately liberals think they are so "open minded" and care so much about feeding all of the tax payers' money to the "less fortunate" instead of expecting people to get off their butts and get a job. Cut way down on welfare and unemployment instead of raising the debt ceiling. That would pay off some debt.
ReplyDelete