Quote:
Originally Posted by directfiesta
Is that a first ? Did Reagan raise the debt ceiling 19 times !!! Bush jr 8 times ( once a year ) ... why the outrage now ... what is the sudden motivation ...
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Because the levels of debt are now hitting critical mass.
If you borrowed a hundred dollars to get you through the end of the month you wouldn't be too worried about it.
But if you borrowed $10,000 every month to get you through and never, ever paid any of it back and just paid the interest each month and continued to spend like a drunken sailor...eventually you would get your debt so high that you would have to say "enough is enough"
And you would have to STOP spending and start paying off the debt.
I think that's where we are at with this country right now. The feds had so much revenue coming in for the last few decades because we have had a relatively long period of pretty good prosperity.
Relatively low unemployment (more taxpayers), and higher salaries (more taxes), and it led to always having a lot of revenue coming in and the politicians got complacent and just kept kicking it down the line.
Now the world economy is in the shitter. Our economy is in bad shape. Unemployment is high.
So the Feds immediately think: "Lets raise taxes and get more revenue and that way we don't have to face this debt. We can just keep paying the interest and do deficit spending"
But a LOT of people are saying: "Oh hell no!"
We are getting the shaft while they are still living it up in Washington.
Personally? I'm pissed that I would have to pay one more penny in tax for this bullshit. BUT...if they STOPPED SPENDING right now (and I would say that a LAW is required to stop them) and actually got serious about this...then yes, I would feel it was my civic duty to pay a little more in.
But that won't happen.
What is going to happen is that they will all make a big deal out of how they are "fighting" with each other. Then the Republicans will ok the debt ceiling being raised and the Dems will "give" a 4 trillion budget reduction over TEN YEARS (which is only 400 billion a year...they spend almost that much in a month).
Then both sides will proclaim victory and make all their constituents happy so they can get re-elected.
The news media will talk about how much the U.S. citizens just want our govt. to "compromise" with each other and "get things done" and then move on to the next big story that is designed to keep us distracted.
Then the Republicans and Dems will have beers together and laugh at how they fooled us once again. And we will still be in debt to our eyeballs and the can will get kicked down the road again.