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Understanding the Debt Ceiling in 3 minutes and 45 seconds

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  • Understanding the Debt Ceiling in 3 minutes and 45 seconds

    http://www.npr.org/blogs/money/2011/...e-debt-ceiling

  • #2
    Re: Understanding the Debt Ceiling in 3 minutes and 45 seconds

    Great Article Whiskey. I think it's silly not to raise the cap considering we are invested in two wars right now. We're in a recession. And we're extending BS Bush tax cuts which really only hurt the American people as a whole. Government revenue is way too low and as much as it sucks, we're going to have to raise the debt ceiling if we're to survive at all.

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    • #3
      Re: Understanding the Debt Ceiling in 3 minutes and 45 seconds

      Bush jr : 2001 - 2009 increased the US debt by 27.8%, with the biggest increase during his last term of 20.7%
      Obama: 2009 - 2010 increased the US debt by 9%.

      I'm not an American, but to blame Obama for reaching the ceiling, with the legacy he got from his predecessors (2x WAR and bank crisis), is ignoring the obvious. Reaching the ceiling is not something from the past 1-2 years.
      I guess the US need to change something in its taxes for all people, cause cutting in Government expenses solely is not going to solve it imo.

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      • #4
        Screw that!!! I don't want to be taxed more.
        We should stop giving money to other countries and just become an isolationist for a few years.

        I deserve a ribbon for Mortar Specialist

        Artillery conquers and infantry occupies.
        J.F.C. Fuller

        Proud to have been a member of the 5th, 71st and my beloved 19th

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        • #5
          Re: Understanding the Debt Ceiling in 3 minutes and 45 seconds

          Originally posted by HiTest View Post
          Screw that!!! I don't want to be taxed more.
          We should stop giving money to other countries and just become an isolationist for a few years.
          True that, although the rich should be taxed much much more. It's stupid that Warren Buffet pays less in taxes than his secretary. How is that fair? Warren Buffet and many more of our Wealthiest Americans wrote a letter to Obama expressing that they should pay more in taxes, remember that? By extending the Bush tax cuts we've shot ourselves in the foot by cutting out so much of the government's revenue. Honestly by Obama's spending cuts alone if we got rid of the Bush tax cuts and started generating revenue, we would be very very well off. Bush tax cuts have not affected me advantageously but they have hurt our country as a whole.

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          • #6
            Re: Understanding the Debt Ceiling in 3 minutes and 45 seconds

            http://www.nytimes.com/interactive/2...n_Cartoon.html

            I haven't posted in the sandbox for what seems like years but on this one I can't help myself. I thought the Democrat's were bad but after this whole debt crisis hoax it's clearer than ever that the Republican Party is simply water carriers for millionares and billionares. Voted in by people who rally against big government at the same time carrying placards that say "Hands off my Social Security and Medicare". Talk about voting aganist your own interests.
            |TG-9th| TheFatKidDeath
            "Born to Party, Forced to Work."
            - Check me out on The Onion
            - I'm on the local news!

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            • #7
              Re: Understanding the Debt Ceiling in 3 minutes and 45 seconds

              Best commentary on it thus far: http://havoconthehill.com/

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              • #8
                Re: Understanding the Debt Ceiling in 3 minutes and 45 seconds

                Originally posted by HiTest View Post
                Screw that!!! I don't want to be taxed more.
                We should stop giving money to other countries and just become an isolationist for a few years.
                It is this kind of reaction that keeps this country on the edge of failure.

                If we did stop giving money to other countries we would still have 14 trillion in debt but also be considered the scrooge of the world. So that would gain us nothing.

                Become isolationists wouldn't get rid of the debt we have acquired and would make it impossible to borrow more.

                Chances are very few politicians are talking about taxing you more. You don't have enough money to tax in a significant way. Unless you have a second home or make a significant amount of money you are very safe from increased taxes. However you are very likely to have your social security and medicare reduced. These are things you probably have made significant contributions to. (The rich don't really contribute much to those things. Any increase in costs have been passed on to average consumers. Most still get their money. What is really funny is that many rich will still get more than they paid into social security. They don't need it and they benefited from the local/state/federal governments in many, many ways. But hey, being rich is good at all levels.)

                We have to control and reinforce the entitlements. We have to raise revenue because we are, always have been and always will be a socialist country in that we will take care of the poor, sick and elderly. We just have to do it in a more efficient manner. We have to control it by recognizing that we just live longer. The benefits for the elderly wasn't ever, ever meant to supplement the well off retirement plan. Nor was it to allow the capable elderly to retire a couple years earlier and "enjoy the golden years". It was to ensure the true elders of the workforce, those that can't increase our productivity, have a modicum of support if they couldn't or didn't plan for the future.
                Iím not racists, I have republican friends. Radio show host.
                - "The essence of tyranny is the denial of complexity". -Jacob Burkhardt
                - "A foolish consistency is the hobgoblin of little minds" - Emerson
                - "People should not be afraid of it's government, government should be afraid of it's People." - Line from V for Vendetta
                - If software were as unreliable as economic theory, there wouldn't be a plane made of anything other than paper that could get off the ground. Jim Fawcette
                - "Let me now state what seems to me the decisive objection to any conservatism which deserves to be called such. It is that by its very nature it cannot offer an alternative to the direction in which we are moving." -Friedrich Hayek
                - "Don't waist your time on me your already the voice inside my head." Blink 182 to my wife

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