There should never be any threat of going over the debt ceiling. There's no
reason to risk the financial stability of this nation. If they want to have a
fight fight over the budget bill. A gov't shutdown is still harmful but
much less so than defaulting on the debt.
Cut government spending! We have to find ways to live on less income but the
government never does! We can't keep borrowing money with no intention of
paying it back but the government does.
The debt ceiling fight is like a married couple who decides to buy something and
charge it to a credit card, and then decide they should not have made the
purchase, so they refuse to pay the charge.The debt ceiling debate
should never occur. It should be dealt with before money is spent.Choosing NOT to pay the bill is ludicrous.
Why in the world is this farcical number even referred to as a debt
"ceiling" or "limit" anymore!?The USA Today says,
"Even the hint that the United States couldn't meet its obligations
rattles the financial markets and threatens the nation's credit rating.
That would drive up interest rates, drive down stock markets and weaken the
economic recovery."Are any of these clowns ever going to figure
out that a dept which is **truly** unlimited will do vastly more harm to any
**legitimate** credit rating than any silly spat the Congress and President may
have about whether or not to violate the fictitious "limit"?Of course, as we've already witnessed with regards to the supposed credit
worthiness bestowed by the various credit ratings organizations upon all the
companies burdened with rotten mortgage-backed "securities", the
legitimacy of ratings themselves is highly questionable.Which leads
to my bottom-line conclusion, the whole system is rigged and destined to fall,
like any other house of cards, from the weight of its own dishonesty. I once
thought there might be a chance to avoid it, but this continuing foolishness
about so-called debt "ceilings" makes that increasingly unlikely.
Standing up to extremists in both parties? Come again. The "extremists"
in the Democratic Party have called for such extreme measures as matching every
$10 of spending cuts with only $1 of tax increases. What we are talking about
here is ultra-extremists on the right stonewalling against moderates on the
left. The only thing that has shifted is the center. It's now way right of
the middle we used to know. Reagan would now be seen as a leftist extremist.
Nixon? Probably a socialist.
If Congress approves going to war over Syria, and we start WWIII, the debate
about the debt ceiling will go away.