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Current Events & Hot Topics Current Events & Hot Topics

Forget the shut down for a moment. Lets talk about the debt ceiling.

Posted by on Oct. 3, 2013 at 7:58 AM
  • 140 Replies
Do you think folks understand how serious an issue not raising the debt ceiling would be?

by on Oct. 3, 2013 at 7:58 AM
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Replies (1-10):
survivorinohio
by René on Oct. 3, 2013 at 8:17 AM
5 moms liked this

I get it.  I just wish I knew were the end is.  We need to improve our gdp and eliminate spending so we dont need the loans

yourspecialkid
by Platinum Member on Oct. 3, 2013 at 9:22 AM
7 moms liked this

 It does no good unless big cuts are made.  This country owes more than its entire wealth.

Besides, didn't Obama say, "The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies."

 

jaxTheMomm
by Platinum Member on Oct. 3, 2013 at 9:49 AM
1 mom liked this

The repercussions of defaulting are HUGE.

mehamil1
by Platinum Member on Oct. 3, 2013 at 9:53 AM

I don't even understand what the hell all the significance is. When politicians and lawyers and bankers are writing this shit and making it some how real, I question the nature of reality. It could very well all be in their heads and using fear as a tool to make us think whatever they want us to think. 

I don't know. I really don't. I'm just sitting here, watching this whole thing. It's profoundly stupid. 

motherslove82
by Silver Member on Oct. 3, 2013 at 9:56 AM
2 moms liked this

I swear they think they are playing with Monopoly money. The debt ceiling has to be raised once the budget is passed. The change needs to happen before it gets to that point.

UpSheRises
by Platinum Member on Oct. 3, 2013 at 9:58 AM
2 moms liked this

No, i don't. I don't think most people understand what it means at all.

Cutting spending down to 0 won't impact the debt ceiling TODAY. Wetook out a loan and now we have to pay it...it doesn't matter if we don't take out any more loans as long as we live...we are still responsible for this one.

yourspecialkid
by Platinum Member on Oct. 3, 2013 at 10:10 AM
3 moms liked this

 There is no reason for the US to default on anything...EVER.  We have revenue...plus we have that printing press they keep in the basement of the treasury.  So, that arguement is off the table.

What we really need to do is look at it the way families do.  We are spending more than we are making and we have a lot of debt.  We have to do 2 things, increase revenue (not by raising taxes so people can't eat) and cutting spending.  It really isn't that hard.  DC doesn't want to do it though.

 

masonmomma
by on Oct. 3, 2013 at 10:13 AM
Care to explain the repercussions?
SyllabaryBisque
by Bronze Member on Oct. 3, 2013 at 10:14 AM

This.

Quoting motherslove82:

I swear they think they are playing with Monopoly money. The debt ceiling has to be raised once the budget is passed. The change needs to happen before it gets to that point.


NWP
by guerrilla girl on Oct. 3, 2013 at 10:16 AM

I understand your POV and am not here to debate this fact. This is not about cutting future expenses but about paying for what congress has already spent...like going to Best Buy and getting a new refrigerator on credit then deciding it isn't in the budget after you've have had it for a month so you just stop making the payments.

Being able to cut future spending is not related to the debt ceiling that we will hit in two weeks...That is actually a different conversation and I do invite you to make a thread to discuss it.

That is actually a different conversation. 

I don't think people understand the debt ceiling, what it does and what it means outside of the superficial understanding you just illustrated in your response....

I am only here to ask:

Do you (general you) have an understanding of what will actually happen if congress doesn't raise the debt ceiling in two weeks?

Quoting yourspecialkid:

 It does no good unless big cuts are made.  This country owes more than its entire wealth.

Besides, didn't Obama say, "The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies."

 


National Woman's Party


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