Are there any reasons why this great country had to borrow money in the first
place? We were the most powerful-richest country in the world, and had to borrow
money? Fourteen trillion? If our government was a business, they would all be
fired. If we paid the loans back at a rate of a dollar per second, it would take
about 445,000 years.
GWB. If you favor raising the debt ceiling by all means contact our new Junior
Senator and voice your opinion. He is emphaticaly against raising it. I believe
the federal government wastes billions on unnecessary projects. We will have to
make sacrifices. It is a matter of priorities. Ford make it through the
recession without a gov't bailout. They made hard choices. We now have a
leaner more competitive auto industry. It can be done. I would pay more taxes
if I could be guaranteed the money would go for deficit reduction and not more
NeilT, when you say that we shouldn't raise the debt ceiling, are you ready to
stop paying for the soldiers in Iraq and Afghanistan?Are you ready
for your parents to no longer have social security payments? What about
medicare? are you ready to pay for the medical care for your parents out of your
pocket?Are you ready to have interest rates at 20% on mortgages when
the US T-bills are forced to pay 20% to attract a buyer?Are you
ready for Arches, Zions and Canyonlands to close to the public?Are
you ready for construction on the freeways in Utah to screech to a halt?Are you ready for massive unemployment in Layton, Clearfield and Ogden
as the civilian positions at Hill AFB are terminated?If you are not
ready for those things, then maybe you should rethink your position on raising
the debt ceiling.
I agree that massives differences between rich and poor are bad for any country.
America needs a strong middle class that are property owners and have decent
employment.The debt problem is not a Republican or Democrat problem
it is America's problem. We need to stop pointing fingers and do something now.
Congress is the problem, not the president. The President can't spend a dime
congress does not appropriate. I agree with Republicans, don't raise the debt
ceiling. We have to find a way to return to fiscal sanity before it is to late.
Further: "The US can get away with this only because it is the
world's reserve currency. This would be totally unacceptable in any other
country. We think these problems will start to crystallise for the US in the
second half of 2011, once the European debt crisis has stabilised," he
said. The warnings were echoed by Li Daokui, a rate-setter for China's central
bank. "The focus of the market is still in Europe, but we must be aware
that the US fiscal situation is much worse than in Europe," he saidAmerica's budget deficit will remain stuck near 10pc of GDP, not just in
2011 but also in 2012. This will push gross public debt to 110pc of GDP under
the IMF definition, near the brink of a debt compound spiral. The contrast with
fiscal tightening in Europe has become starkly evident."The USA
is going the same way that has caused great empires to collapse in the past.
Overspending on foreign wars, immorality, corruption in high places,massive difference between rich and poor which will eventually result in civil
war, and debt that cannot be repaid leading to bankruptcy.
Increasing Debt is like slowly blowing up a Balloon. The pressure continually
increases to the point that the whole thing bursts and nothing is left but the
pieces.Are American people being told the truth. Quote from the
English Daily Telegraph 10 Dec 2010"Agreement in Washington on a
fresh fiscal package has set off dramatic rise in yields of US Treasuries and
bonds across the world, threatening to short-circuit any benefits of stimulus.
The bond rout raises concerns that the US authorities may be losing control over
events.The White House deal with Congress will renew the Bush tax
cuts for rich and poor alike for two years, as well as adding a further a 2pc
cut in payroll taxes and an extension of unemployment aid.David
Bloom, currency chief at HSBC, said it is hard to disentangle whether investors
are shunning bonds because they expect US stimulus to boost growth next year, or
whether they are losing patience with profligacy in Washington. "If this is
all about growth, that's brilliant. But if yields are rising because people
think Amirca's fiscal situation is unsustainable, then its armaggedon," he
The last line of the article sums up the scare tactics that have gotten us into
this mess. We're not going to be fooled this time around. Congressional
pressure to hold firm and steadfast to reverse years of insane governmental
encroachment is exactly what's needed now. Fight on, summon moral courage, hang
in, and exact smaller government including the smaller budgets that go with it.
"Budgets"... Congress should start with the premise that they will
ALWAYS have one in place before proceeding in any Constitutionally approved
direction. If we can't already pay for whatever project is being considered
without raising further money from any particular entity, then we don't
proceed--such as American families have to do, if they show any wisdom at all.
Does anyone in the U. S. suppose members of Congress really care? They won't be
around to fight the Chinese communists when they come knocking to collect their
debt. Keep spending, keep buying goods produced in China, keep going into debt.
It's the American way.
While I am not opposed to the idea of foreign aid, I find it funny that the US
is, in essence, borrowing money from China to give to poorer countries. The cost of our government is unsustainable. Cuts will be necessary at
some point, and they will be painful. As is the case with all situations of
debt, we are left with the decision to make cuts and start on a better path now,
procrastinate and wait until the cuts will be even more painful, or allow our
debts to push us to bankruptcy. The decisions made by Congress in
the next few months will have a tremendous impact on the financial future of our
This is interesting, they mention the Right wing talking point that Obama voted
against raising the debt ceiling, but the forget to note that it did not get
filibustered by the Democratic Minority in the Senate. The Dems in the Senate,
voted against it when it was assured of passing. The author also forgets to
point out what the debt ceiling was being raised for, paying for an off budget
war in Iraq.The author also fails to note that of the almost
$4Trillion that was added to the deficit since Obama was inaugurated,
$1.5Trillion of that was the 2009 fiscal year budget of President Bush (that
included the TARP program Bush initiated).They also fail to mention
that Bush increased the deficit from $4.5Trillion to $10Trillion while the
economy was supposedly booming.
A $100 billion spending cut from a trillion dollar yearly deficit just doesn't
cut it. I hope we see much greater cuts before the debt ceiling is raised.
Although a conservative, I would not object to a tax increase as well as cuts,
to get the budget balanced.
Wow. A pretty fair article from the AP. And appears to be well researched.
This is truly a time of miracles.
Often overlooked there is a 4th and more powerful element of government that has
a voice in how this country functions and spends its money and that is the
people. And its time for congress to listen to them and commit themselves to
sacrifices just as the citizens must do in any crises, whether it be war or loss
of services. We are stronger in poverty than we are in false prosperity.Congress and governess have this false belief that this country would
not function if it was not for government, well they must think again. Because
of the people we can and will survive without the bureaucrats and their
self-interest greed. We the people do sacrifice every day for the country, not
government leaders. As long as the government will provide law and order and
support its people this country cannot fail. We might get more paupers and large
business fail but we the people will survive and if the people survive the
country survives.So cut and stop spending, there is no choice about
it. The rest of world will survive without our government interference, our
borrowing is causing more world financial problems.
If only our founding fathers were here today, what would they say?. What are
those medal things on wheels driving past us on the roads, why are all these
slaves running free, that's a huge shiny Eagle flying in the sky with big wings,
why do people dress that way, the Constitution use to be, in Thomas
Jefferson's words, a peculiar security for liberty, why do people talk that way
now, yesterday was Constitution Day, the anniversary of the day in 1787 when
delegates to the constitutional convention in Philadelphia signed the draft
charter so it could be considered for ratification by the states. The
Constitution was one of the four organic laws of the United States and declares
itself to be the supreme law of the land. Federal and state officials in all
three branches of government must swear to preserve, protect, defend, or
otherwise support the Constitution. America's founders believed that liberty
requires limits on government and that those limits come from a Constitution
that the people established and the people alone may control. Now there's just
bureaucrats, earmarks, pork spending and nut cases running Congress. Let's
roll-over in our graves.
WHEW, can you imangine that the United States just passed a dubious milestone.
Government debt surged to an all-time high, topping $14 trillion, $45,300 for
each and everyone in the country. And now for more Pork Spending. The U.S.
census was declared a failure by Democrats this week after only sixty-five
percent of all households chose to respond to the questionnaire. But what's the
point of a census if they already have a complete list of all U.S. residents to
mail the census to?. Hey, don't blame me, I was not voted into Congress. I just
vote. Think about that.
Its appropriate to have a photo of a tax cheat along with this great news of the
Cloward and Piven spending spree that has taken place recently. Note to
Geitner, what would be catastrophic would be to suffer more of you and your
bosses misguided economic policies.