Excellent discussion on US President raising the debt ceiling unilaterally...

[CuteOldGuy]

Originally Posted by gnadfly

If the debt ceiling were done away with the country would look like the Wal-mart in Louisiana that had shoppers with EBT cards with no limits due to a glitch.

What does it look like now? Congress makes those WalMart shoppers look thrifty.

[CJ7]

Originally Posted by CuteOldGuy

The debt ceiling debate is simply political theater. Grandstanding for the fans. Like a WWF match. Neither party wants to quit spending. So relax, overspending fans. The dollars will keep being printed.

Just get rid of the debt ceiling. It wastes time. Or better yet, get rid of the spenders!

we cant get rid of the debt ceiling until we raise it and pay for the bills we have on the books

god, you're a stupid old shithead

[CuteOldGuy]

So, CBJ7. You mean we have to raise the debt ceiling BEFORE we eliminate it, so we can pay current obligations. How are we unable to meet current obligations if there is no debt ceiling?

You need your medication, CBJ7. Then get some rest.

[CJ7]

Originally Posted by CuteOldGuy

So, CBJ7. You mean we have to raise the debt ceiling BEFORE we eliminate it, so we can pay current obligations. How are we unable to meet current obligations if there is no debt ceiling?

You need your medication, CBJ7. Then get some rest.

one more time just for you asshat


The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.
Failing to increase the debt limit would have catastrophic economic consequences. It would cause the government to default on its legal obligations – an unprecedented event in American history. That would precipitate another financial crisis and threaten the jobs and savings of everyday Americans – putting the United States right back in a deep economic hole, just as the country is recovering from the recent recession.

[CuteOldGuy]

CBJ7. I was saying let's not have a debt ceiling at all. You really don't understand that? Wow! Sad.

[CJ7]

Originally Posted by CuteOldGuy

CBJ7. I was saying let's not have a debt ceiling at all. You really don't understand that? Wow! Sad.

you're saying get rid of the government ... so lets take up a collection from everyone to pay for the upkeep of the country we live in ... our creditors will love that

wow indeed, sad undoubtedly, Mr Economic professor

[I B Hankering]

If Odumbo does it, it'll be Odumbo's "Reichstag Moment."

[Yssup Rider]

Another brilliant comment from New Rock city.

[CJ7]

Originally Posted by Yssup Rider

Another brilliant comment from New Rock city.

can he or cant he ?

[nwarounder]

Originally Posted by ExNYer

So, you are hoping for an economic meltdown? Do I have that right?

Do the debt ceiling warriors on this board not realize that we could end up in a situation FAR WORSE than the 1930s depression?

When Congress votes to spend X while raising a smaller amount Y in revenue, Congress has already decided to increase our debt and has implicitly raised the debt ceiling.

A separate vote on the debt ceiling is ludicrous.

If members of Congress don't have the balls to vote down spending and increase taxes in the first place, they should not be allowed to hide behind a separate vote on the debt ceiling.

Lol, I'm not hoping for anything, other than for Obama to print a coin and see what would happen. Either way it won't affect me, no need for the federal government in my life. The military is nice in case we were attacked, but I can do without the rest.

You are all getting duped and falling into the trap both parties want you in (rooting for your party), the solution is not how to raise the debt ceiling, but rather, how to amend the current laws so we never have to raise the debt ceiling again. But honestly, just like on the hill, I think most people just want to see a fight nowadays.

[CuteOldGuy]

Originally Posted by CJ7

you're saying get rid of the government ... so lets take up a collection from everyone to pay for the upkeep of the country we live in ... our creditors will love that

wow indeed, sad undoubtedly, Mr Economic professor

You are truly deranged, CBJ7. I said get rid of the debt ceiling. Your intellectual capabilities are diminishing more quickly than ever. Get help while you can!

[Yssup Rider]

GOP done shot it's wad already. Nobody's pregnant!

[IIFFOFRDB]

Originally Posted by CJ7

one more time just for you asshat


The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.
Failing to increase the debt limit would have catastrophic economic consequences. It would cause the government to default on its legal obligations – an unprecedented event in American history. That would precipitate another financial crisis and threaten the jobs and savings of everyday Americans – putting the United States right back in a deep economic hole, just as the country is recovering from the recent recession.

Here is you link asshole...http://www.treasury.gov/initiatives/...debtlimit.aspx