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Get ready for more Debt Ceiling rigmarole in 2013

Discussion in 'Current Events' started by TreeFortRichard, Nov 15, 2012.

  1. TreeFortRichard

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    So the debt ceiling is currently set at $16.4 trillion...and we are going to hit that in Feb of 2013...get ready for either more shutdowns of the govt. or watch as they leverage this to raise it and spend more....yay for us...
     
  2. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    Won't the fiscal cliff prevent that from happening?
     
  3. SaltyDelights

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    It will delay it past February but not much longer than that. You could cut all discretionary spending and Treasury would still need to borrow for entitlement. (I might be wrong on that). And entitlements aren't going away: People love their government bennies. You cut off the money, you lose the next election. They have no choice but to keep things status quo.

    Debt downgrades, tax hikes and social unrest, here we come!
     
  4. Don the Radio Guy

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    Get ready for higher taxes and more taxes on top of that. Thanks, parasite class!
     
  5. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    Funny how regardless the outcome you'll be outraged. If they extend the tax cuts and avoid the fiscal cliff, you'll be here crying about the exploding deficit.
     
  6. Don the Radio Guy

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    The tax cuts aren't getting extended. The democrat talking point that extending CURRENT rates is akin to cutting taxes makes that clear. And I have no faith in the Republicans to stand up to the pied piper of free shit.
     
  7. Party Rooster

    Party Rooster Unleash The Beast

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  8. peewee

    peewee Registered User

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    Hopefully everyone learned their lesson last time and just raise the god damn thing without much of a debate, and then do their best to cut the deficit. Holding out until the last minute did nothing but fuck up our credit rating.
     
  9. whiskeyguy

    whiskeyguy PR representative for Drunk Whiskeyguy.

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    You don't think further raising it will cut our rating more? There was already talk that our rating my drop regardless.

    The debt ceiling should not be raised, and I hope to fucking God the House Republicans have balls to do the right thing. What happened to the Most Special Super Duper Epic Committee that was going to fix all our problems? They did nothing, and now the fail safe from that deal (automatic spending cuts) is coming into play.

    Cut up the fucking credit card.
     
  10. Don the Radio Guy

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    Yeah just give the democrats everything they want. No questions asked. That's how we got into this mess. Fuck that.
     
  11. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

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    I don't think you understand how the basic logic of borrowing works. If you borrow less, it's easier to pay back. If you borrow more, it's harder. Repeat that about 20 times in front of a mirror, focusing on drilling it into your head, word by word. Then, answer this simple question:

    How is the government setting the limit at 16.4 trillion, and refusing to borrow a dime more, going to negatively impact the credit rating (their ability to pay back what they owe)?
     
  12. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    Reagan and Bush were Democrats? :asshat:
     
  13. f kane

    f kane Known Traffic Menace

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    The thing about Obama voters is that they are buying Obama's lie about only the wealthy getting a tax increase, and they don't have the mental capacity or the attention span to understand that ending the Bush tax cuts will result them getting a tax increase. Obama is the smoothest pickpocket ever.
     
  14. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

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    Most of the Bush tax cuts cut taxes for the middle class, not the wealthy. After the Bush cuts went into effect, the wealthy were contributing a greater percentage of federal taxes than before.
     
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  15. Begbie

    Begbie Wackbag Generalissimo

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    What a bunch of bullshit. There is no debt crisis or looming fiscal crisis. Because Richard Trumka says so. :cool:

    I'm sure the unions involved with Hostess were saying the same damn thing..."Pssh, there's no crisis at Hostess...we need to hold our line and not give in to management who are trying to scare us into a deal by claiming they're going to go out of business."

    Also wonder what Obama and the unions talked about in their meeting...something tells me he didn't exactly get into an argument over Trumka's assertion that this merely just an "obstacle course".
     
  16. f kane

    f kane Known Traffic Menace

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    We live in a world of soundbites, slogans and one-liners. Boring facts like that cannot be tolerated by the Obama generation; their eyes gloss over. Just say tax the wealthy and they will continue to keep their brains on off.
     
  17. peewee

    peewee Registered User

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    As time goes on more interest is owed, so the debt ceiling needs to be raised to pay back what we already owe. I am not supporting borrowing more money, but I want the government to act like every other responsible adult in the country and pay their bills. How would defaulting on our loans help us at all?
     
  18. Lord Zero

    Lord Zero Viciously Silly

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    raising the debt ceiling - 1. Increasing the amount of debt a nation will allow itself to get into; 2. Taking one's country from "screwed" to "fucked".
     
    #18 Lord Zero, Nov 16, 2012
    Last edited: Nov 16, 2012
  19. MayrMeninoCrash

    MayrMeninoCrash Liberal Psycopath

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    funny, isn't that also the definition of "not raising the debt ceiling"?
     
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  20. Lord Zero

    Lord Zero Viciously Silly

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    No. You don't fix a sinking ship by making the ocean deeper.
     
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  21. Party Rooster

    Party Rooster Unleash The Beast

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    You do realize that this is only spending money that was already agreed to be spent right? It's like telling your credit card companies to fuck off after you've maxed them out. I'm not arguing over the debate of spending and taxes, just pointing out that most people don't realize what the "debt ceiling" really refers to. It's money that's already been appropriated. It's that kind of stuff that fucks up your credit score.

    The next budget needs to come closer to being balanced for this to not still be necessary every year, but you're right the prospects look pretty bleak for that.
     
  22. Lord Zero

    Lord Zero Viciously Silly

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    The cycle is set: Argue of spending plans, suck the dick of the word "balanced" as much and as often as possible, pass a HEAVILY watered down spending bill with few actually cuts, try to back out of said spending bill shortly before the spending cuts are to take effect, repeat. With that kind of behavior, I don't trust the government to do anything right with regards to responsible spending. I'm ready to lock the debt ceiling in place, wait for the government to exceed it (which it will), then watch as mandatory spending cuts gut the government. I don't care how many problems that causes; it can't be worse than just increasing every year until the country collapses.
     
  23. Don the Radio Guy

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    [​IMG]

    Responsible adults don't go $16.4 TRILLION in debt.
     
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  24. Party Rooster

    Party Rooster Unleash The Beast

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    :action-sm
     

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