This is going to be an election defining vote. You can't call for spending cuts and blame everyone for over-run spending and then go and raise the debt ceiling. Get ready. Hypocrisy at it's best.
We can't cut our nose off to spite our face. I'm hoping for major, meaningful spending reform in exchange for raising the ceiling. Although I'm skeptical that will happen. If tea partiers and republicans vote for the ceiling to be lifted without major spending concessions then it will be the absolute pinnacle of hypocrisy.
The damage has already been done. Not raising it means we will default on our commitments and topple our economy. I doubt the people want that. Not the ones who think logically and unemotionally anyway.
If you believe the fear-mongering maybe. Sort of like: Banks are too big to fail or the economy will die. We need to spy on everyone so let's create the Patriot Act. Iraq has WMDs so let's go to war. The TSA makes us safe so let's body scan everybody. Lies, Lies, and more Lies.
Might I also add that the term debt ceiling is just that. A word, a number on paper, a meaningless figure. The govt. will hit this ceiling they say sometime in April and without approving more the govt. can't cover it's obligations with revenue it takes in so it must borrow for the remaining 8 months to operate. So if they don't get this raise on paper they can't pay. WHO the F is lending to us knowing this information? I would say not very many and most of it is our FED printing. This govt. is so far out of control and obviously has the majority of Americans trained to follow it down the rabbit hole.
We have to cut the problem off at the head and stop making these commitments, not quit honoring the commitments we have made. If you equate this to personal debt, it would be like having three credit cards that are maxed out and a credit score of 700. You have a car note, a house note and your credit card debt to pay off but aren't making as much money any more. To raise the debt ceiling would be to open up another credit card and start using it. To not raise it would mean to default on your obligations and have your credit score take a hit. While neither is a good idea, you're in the position you're in and have to make a decision. what I propose is to open the new credit card but only after you agree to try to sell the car, and house and live as tightly as possible to be able to pay down the debt you are accruing. From a personal standpoint, this agreement would be worthless but if you tie the legislation together in a government setting, you can actually be assured that this happens (in the short term anyway). Would you advise someone to stop paying all of their bills in this situation?
This... Congress has no choice but to raise the debt ceiling in the short term and effect the debt long term. If you dont we default and the economy tanks. Those who get upset might want to read a book or two on economics..... The congress has no choice in the short term. That horse has left the barn.
You liquidate assets to pay-off debt and do a number of other things before you go bankrupt to avoid it. Adding another CC just prolongs the agony.
No choice my ass. Let's keep feeding the addict more heroin. Don't worry they will get better I promise. I guess standing up for what is right is not something most Americans value anymore.
