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Really? Every economist? LOL.
I read the article and she has a great point. Tax cheat Tim has said the sky is falling before. Besides, if we don't raise the debt ceiling the alternative to default is to cut government spending. And that sounds pretty darned good to me.
Rcart... here is a simple comparison. If you are maxed out on your credit cards, have a mortgage and car payments, and are spending more than you earn, see what happens when you walk into a bank and ask to increase your credit limits and loan amounts. Which one will cause you to leave the bank faster, the security escort, or the humiliation of being laughed out of the bank?
And Sarah Palin is hardly the only politician who believes raising the debt ceiling is a bad idea. You're just trying to get in another quick Sarah Palin bash.
Somehow I don't think so. Some people can be saved from themselves. Others, perhaps not.Does he mean these economists
National Taxpayers Union - 150 Economists Say Debt Limit Must be Accompanied by Reforms
The analogy only holds if you intend to do the same thing every day for the rest of time.In going with your analogy, if my wife falls down and breaks her leg, I get her to a hospital immediately, and worry about how I am going to pay for it later.
Why not? The government will wrest more than two trillion dollars from the productive people in our society. Is the interest more than two trillion dollars?
The government is unsound. Therefore the promise to pay is unsound.
Do you think the one term president Obama's childish policies might have some small role in this?
For the government to get the hell out of the way and let people get back to work and make money.
That's it? Platitudinal economics. LOL!
If you just keep raising the debt ceiling Obama will not stop spending. It would take months to become a problem
The bigger question is what is wrong with Obama and democrats that continue to spend spend spend?
For the government to get the hell out of the way and let people get back to work and make money.
Since you're so ****ing smart, why don't you run for President?
Really? Every economist? LOL.
I read the article and she has a great point. Tax cheat Tim has said the sky is falling before. Besides, if we don't raise the debt ceiling the alternative to default is to cut government spending. And that sounds pretty darned good to me.
If you keep raising it the spending will not stop. Obama needs to be shown no more money no more spending
What we need is a real dose of voodoo economics Reagan style because it was the positive as much as anything that turned us around from the failed Carter years. .
Palin dismisses Geithner warnings about debt ceiling - Yahoo! News
What the hell is wrong with this chick !!!!! Every economist will tell that the debt ceiling deadline shouldn't be f*** with. Is this who the tea party wants to be president????
Wrong again!! 20% of the current debt is attributed to Reagan..
Better get your facts straight before you go making a fool of youself..
Presidents and the Federal Debt
And you should recognize that revenue jumped tremendously during the Reagan years but spending under the Democratic congress did not go down it, in fact, went up just as tremedously. That graph is a huge steam pile of half information. Did Krugman author it?
There is not a single member of this forum or thread that would handle their finances in such a manner. There is no question the debt ceiling must be raised and the specific reason it must be raised is excessive spending. Anyone who can balance an online checkbook knows this. We simply cannot sustain our current level of spending, no one here would increase debt and spending at the same time and pretend that's a sound financial plan.
The debt ceiling deadline shouldn't be changed.
And if the Democrats refuse to meaningful and substantial cuts in their spendin agenda, the debt ceiling should stay exactly where it is when that deadline rolls around.
Not entirely true.. Kill the $320 billion a year tax cuts to the rich would be a good start.. Nearly a third of the deficit wiped out.. Kill the tax breaks and stuff to the oil companies.. There is another $70 billion or so a year.. Make some smart investments that will get this nation working again.. More people paying taxes increases revenue.. A public option would also save billions in healthcare costs.. Anything that can save money is a good idea.. Even if you have to spend to do it.. We aren't talking about the family checkbook here.. Trust me, I would love to just use some money to invest in an IPO and make millions.. Pay back the money I borrowed, pay off my debt, and live the life of Riley.. Who wouldn't?? Our government has that option.. They can make some smart investments and work itself out of debt.. I have already shown how about a third of the deficit could be wiped out without spending a penny.. What more do you want??
I didn't have to kill medicare to do it.. Imagine that..
Tax Cheat Tim's ambitions far exceeds his intellect.So far, how have Geithner's economic policies worked out?
Interest on the debt is running about 30 billion dollars a month. So there is no need to default. As far as cuts go, let's return to 2008 spending levels, fire every person hired for every new federal job since 2008, get our money back from the public sector unions (that is where much of the so called stimulus went) and the nation will be in much better shape.I don't know what the numbers are, but as far as I understand it, you wouldn't like how far spending would have to be cut. Really, we're talking about pretty basic stuff (like soldier's paychecks).
That must be why China is divesting itself of US debt instruments.For investors all over the world, US Government bonds are seen as the one sure thing.
They are voting with their money. We are about to undergo a rating change. Everyone sees the coming crash, except perhaps, you.Your opinion of the government's promise to pay it's debt is not shared by most investors. Unless you're smarter than all of those investors and economists, I'd trust their opinion over yours on this matter.
Eventually the piper must be paid.Even if you are, perception of the bonds is everything. Take away the one "sure bet" and many people stop investing altogether. If you think that's good for the economy, you don't understand the economy at all.
Mr. Clinton had the good fortune of a Republican congress.News flash: Obama didn't invent budget deficits. He hasn't exactly helped, but we're talking about the last 30 years or more that deficits have been out of control. That's under Reagan and both Bushes as well as Obama. In fact, the only President to sign anything close to a balanced budget in recent memory is Bill Clinton.
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