Quote:
Originally Posted by Robbie
Thing is...there is no need for the govt. to "default" when the debt ceiling hits. They could simply STOP spending money. The govt. takes in a few billion dollars a day in revenue every day.
And the funny thing is...BOTH sides (including Pres. Obama as a Senator) has decried raising the debt ceiling when the OTHER side is in power.
And they all refer (rightfully so) to it as "Kicking the can down the road" instead of fixing the spending problem.
And the media and politicians now have us all CHEERING that they "kicked the can down the road" again!
It's been an amazing bit of PR and seems to have worked on a lot of people.
But when I talk to working people at the gym or at a bar? They have a completely different take on this.
They see the REALITY. That our govt. spends money like a drunken sailor and it never ends.  |
It's likely what they're going to try and do in February. Obama can't come out and cut social security and other things but if the republicans are threatening to put the US into default the democrats can say "oh look we were forced into it, ow, ow my arm was twisted look at how reasonable we are coming together to look at entitlements". I suspect they would have done it this time around if the idiots didn't rush in without a gameplan and grandstanded instead of the establishment republicans getting something effective to their cause out of it.
I however have no problem with raising the debt ceiling and have a big problem with the government stopping spending. It's largely about how often you raise the limit (you have to just for inflation) and where you spend. Spending is called investment when a business does it and I have no problems with government spending on productive assets (with certain caveats) and infrastructure that increases tax revenue. I have a problem with unproductive spending. I don't even have a problem with military spending so long as the spoils of war are taxed and provide some kind of revenue neutrality rather than as a gift subsidizing corporations that pay no tax.