Debt Ceiling

[sheepdog 10]

I had an interesting thought today, wonder if anybody has heard any word about a particular subject. It seems our congressmen are trying to scare us into allowing them to once again raise the debt ceiling by claiming that they won't be able to pay social security, medicare, and our soldiers. But has anybody heard, what about the congressmen? Are THEY going to get their paychecks??????

 

And on this subject, one of the things that really annoys me, as far as social security goes, WE are the ones who paid in on it. It's not the government giving old folks money. It's the government giving the money it took away from people to start with back to them. Yet they make it sound like its a freaking welfare program or something. Totally pissed me off. If they hadn't played around with the money that was paid into Social Security in the first place we wouldn't be having this problem.

[k_nitin_r 8]

Raising the debt ceiling is never a good thing - if the debt just keeps spiraling upwards, eventually somebody is going to announce that they are unable to honor the debt payments and, before we know it, we will be re-living the economic crisis all over again. Perhaps if there was a greater focus on exports, they would be able to raise more money without increasing the debt ceiling.The government can do one of two things to make money - it can either offer goods and services, or it can collect taxes. In Dubai, the government owns a major stake in the telecommunication and utilities firms and so does not impose any income tax. Even after having a government-owned entity default on its loan payment, the government still has not had to impose income taxes. Apart from duties imposed on goods to prevent cheap rip-offs of successful products, the government is able to provide social security for a large proportion of its national population without any taxes at all.If the government really did want to reduce taxes without having to impose some other form of tax on the people, it would have to invest in new government-owned organizations to bring in profits.

[sheepdog 10]

I agree, I think raising the debt ceiling is a really dumb idea. It is common sense that a person is to live within their means. Why doesn't the government get this? Why do they think they can just spend and spend? You are right, the government just has 2 ways of making money. But I don't think it's the making of money that is the problem. They just need to stop SPENDING what they are taking in on not only stupid government projects, but regulatory agencies that hamper business and make it difficult to actually have a business in this country. I speak from personal experience of course. I mean seriously, when there are so many problems in our country and they are threatening to starve off old people and children, in the grand scheme of things, just how important is it for the government to spend millions of dollars to maintaine a buracracy of idiots who come here to count the number of dog turds I have in my kennel pens?

[Harlot 2]

I agree, I think raising the debt ceiling is a really dumb idea. It is common sense that a person is to live within their means. Why doesn't the government get this? Why do they think they can just spend and spend?
You are right, the government just has 2 ways of making money. But I don't think it's the making of money that is the problem. They just need to stop SPENDING what they are taking in on not only stupid government projects, but regulatory agencies that hamper business and make it difficult to actually have a business in this country. I speak from personal experience of course. I mean seriously, when there are so many problems in our country and they are threatening to starve off old people and children, in the grand scheme of things, just how important is it for the government to spend millions of dollars to maintaine a buracracy of idiots who come here to count the number of dog turds I have in my kennel pens?

Although this conversation is old, I will have to disagree. The best thing I can compare not raising the debt ceiling to is going to a 5 star restaurant, and then eating a five course meal on a credit card and then refusing the pay the credit card bill. If you are a nation who needs to borrow money in order to operate, you're going to be driven into deeper debt as a result of that default (also known as bad credit). No only that, but Wall Street would go crazy because that bad credit would not only effect the government, but also publicly traded companies, student loans, mortgages, and etc. Therefore, not raising the debt ceiling would actually drive not only the government into deeper debt, but the entire country.

Yes, spending is a problem, but that should not handled in the budgetary process. The Congress approved the budget, borrowed the money, and is now talking about not raising the debt ceiling so that they can repay that debt. That is completely insane. However, what they should do is when drafting the next budget, make sure that it include deep cuts and appropriate tax increases so that the country's budget can find balance.

[Indego_Media 1]

Hey sheepdog,I'm with you on the red tape that small business has to deal with.... as for the idiots that hassel us over our dogs etc they need to be put to sleep....I don't know who it was that told me a long time ago, but they said that there is an ideal situation, if a govt like our respecive countries currently have with large unemployment, large homelessness, and massive debt.the solution was simple. start building homes for the homeless. this would bring a shortage in builders and trade related staff, as well as an increase in the demand for matterials and services around the housing industry. this demand would then create a drive to employ more people and ofcourse with all new jobs and sales of product increase government revenue via taxes.Its a win win for everyone.... Seems too simple doesn't it.... sometimes the simple things in life can be the most satisifing...cheers Jase