Debt ceiling ... Cornyn tells Cruz to STFU...or something like that!

[LexusLover]

All the "non-idiots" have fled to New York to replace al the "idiots" who were told to leave.

Welcome to Texas ... bring you money and your vote.

If you are fleeing California ... don't come. We don't need your "genius"!

[nevergaveitathought]

why the hell do we even have a debt ceiling as much good as it does

[CJ7]

Originally Posted by nevergaveitathought

why the hell do we even have a debt ceiling as much good as it does

The debt ceiling, legally known as the debt limit, is the total amount of money that the U.S. government is authorized to borrow to pay existing obligations, such as Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and disbursements for other programs.

The debt limit applies to federal debt held by the public, namely, securities held by investors outside the federal government, and to federal debt held by the government’s own accounts. The debt limit does not create new spending commitments but allows the government to finance existing obligations already established by Congress

[nevergaveitathought]

Originally Posted by CJ7

The debt ceiling, legally known as the debt limit, is the total amount of money that the U.S. government is authorized to borrow to pay existing obligations, such as Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and disbursements for other programs.

The debt limit applies to federal debt held by the public, namely, securities held by investors outside the federal government, and to federal debt held by the government’s own accounts. The debt limit does not create new spending commitments but allows the government to finance existing obligations already established by Congress

duh

are you really that simple headed?

[CJ7]

Originally Posted by nevergaveitathought

duh

are you really that simple headed?

simple?

prove anything in my comment is incorrect ... should be simple for you eh Goober?

[nevergaveitathought]

Originally Posted by CJ7

simple?

prove anything in my comment is incorrect ... should be simple for you eh Goober?

extreme literalism is a burden huh

well I guess it isn't when you are totally clueless

[Texas Contrarian]

Originally Posted by Whirlaway

Cruz exposed the GOP establishment for the phony conservatism they like to boast;

Nonsense. He did nothing of the sort.

Doing so would mean setting forth, and with real specificity, exactly what he proposes to cut, or what taxes he proposes to raise. Have you seen him do that? For that matter, have you seen anyone -- in either party -- do that in any credible way? (Didn't think so.)

The problem is not that there's some sort of arbitrarily contrived "debt ceiling" that we might bust through, and the gamesmanship associated therewith; it's that politicians of both parties continually make promises they don't have the slightest bit of interest in paying for. That goes for both tax cuts and program creation or expansion. Real profiles in courage, aren't they?

Of course, since these people are primarily interested in getting re-elected or advancing their political careers, and little else, you can expect business as usual until the next crisis rears its ugly head.

[CJ7]

Originally Posted by nevergaveitathought

extreme literalism is a burden huh

well I guess it isn't when you are totally clueless

youre an idit


idit just for you

[Yssup Rider]

Cruz is a poseur. If he had his way, he'd be against it.

[Jackie S]

Here it is in simple terms.
MasterCard issues you a credit card. You run up the balance to the maximum, and all you can make is the interest payment.

So, you get a Discover Card, and run up a bill on it until you reach the maximum, and start just paying the interest every month.

So then, you go get a American Express Card, and so on.

As long as he Credit Card people, ( and anyone else), is willing to give you credit, or load you money, it all works.

The Federal Government does have one big trump card, they can print money. So no problem, just crank em up. Of course, the money becomes worth less, and so on and so on.

The majority of the Voting Public doesn't seem to care about any of this shit, because they are doing the same thing. When that New Car Salesman looks at you and says he can put you in that new Escalade for just $300 a month, he will. And you end up paying $120,000 for a $75,000 vehicle. But who cares, if you can't make the payments, he will simply repo it, and sell it right back to you again, with penalties, of course.

What are the penalties for our Government doing this? Somewhere down the line, the notes will be called in, and they will be happy to refinance the whole shebang again, of course, with interest, and penalties.

We are leaving our kids and Grandkids a big shit sandwich, and sooner or later, everybody will have to take a bite.

[CJ7]

{{{ shakes head }}}

gee, simple is right

[Jackie S]

Originally Posted by CJ7

{{{ shakes head }}}

gee, simple is right

Regardless, that is exactly what we are doing.

[CJ7]

Originally Posted by Jackie S

Regardless, that is exactly what we are doing.

bullshit

countries like China and Japan invest their $$ in our country because they know its a sound investment .. don't pay them any interest on their loans and see what happens


don't pay the soldiers or hand out tax refunds to American workers and see what happens

[Yssup Rider]

In Clarksville too, LLIdiot!

[Old-T]

So long as individuals run up large credit debt they are unlikely to worry about the country doing the same.

Personally, I would like to see a balanced budget and no significant gov't debt, but there seems to be no serious intention by the wackos on either side to compromise. Each wants to keep their pet items and cut the other guy's stuff. Cruz and Pelosi are both dolts who really don't care if the country takes three steps backwards so long as THEY "win".