US Treasury asks Congress to lift debt ceiling

Conservative said:

Wrong, the National Debt is caused by the U.S. Govt. spending more money than it takes in. The Federal Reserve doesn't spend a dime, it is the Congress that spends the money and creates the debt. Notice the difference between revenue and expenses?

Receipt 2010

Individual Income tax 898.5
Corporate Taxes 191.4

Total 1089.9

SS/Unemploy/Other 864.8

Excise Taxes 66.9


2021.6

Expenses

Defense 696.1
International Affairs 45.2
Gen. Science, Space 30.9
Energy 11.5
Natural resources/env 41.6
Agriculture 23.2
Commerce -82.9
Transportation 92.5
Community Dev 24.5
Education/Train/Social 125.1
Health 369
Medicare 451.6
Income Security 624
Social Security 706.7
Veterans Benefits 108.4
Justice 55.2
General Govt. 18.1
Net Interest 196.9


Total 3537.6

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i emphasized the portion of your posts which prompted my participation in the thread
it was apparent you were ignorant of the feds role to bridge the gap between revenues and obligations
no need to thank me for setting you straight

justabubba said:

i emphasized the portion of your posts which prompted my participation in the thread
it was apparent you were ignorant of the feds role to bridge the gap between revenues and obligations
no need to thank me for setting you straight

Click to expand...

Bridging the gap doesn't balance the budget and isn't spending a dime. Calling me ignorant doesn't strengthen your position. Better look in the mirror.

ipsos poll, jan 12: 71% oppose raising debt ceiling, only 18% support more borrowing

Public strongly opposes debt ceiling increase: Reuters/Ipsos | Reuters

we know what boehner's broads and boys are gonna do

then it will be your move, dems, what card can you play

in a related matter, cbs january 15 finds a full 77% of americans want to see SPENDING CUTS vs only 9% in favor of raising taxes

CBS poll: 77% Say Cut Spending, 9% Say Raise Taxes - U.S. Congress - Fox Nation

checkmate

The Prof said:

ipsos poll, jan 12: 71% oppose raising debt ceiling, only 18% support more borrowing

Public strongly opposes debt ceiling increase: Reuters/Ipsos | Reuters

we know what boehner's broads and boys are gonna do

then it will be your move, dems, what card can you play

in a related matter, cbs january 15 finds a full 77% of americans want to see SPENDING CUTS vs only 9% in favor of raising taxes

CBS poll: 77% Say Cut Spending, 9% Say Raise Taxes - U.S. Congress - Fox Nation

checkmate

Click to expand...

From your first link:

Expensive benefit programs that account for nearly half of all federal spending enjoy widespread support, the poll found. Only 20 percent supported paring Social Security retirement benefits while a mere 23 supported cutbacks to the Medicare health-insurance program.

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So Americans don't want the debt ceiling raised to avoid defaulting on her credit, but there is minimal support to rolling back social programs that comprise a substantial portion of the federal budget? Quite the coherent message that is.

The debt ceiling will be raised since Republicans won't have the guts to cut anything substantial enough to turn the current deficit into a surplus, unless you honestly believe that they are willing to cut Medicare, Social Security, and the Defense budget significantly. That thought is even more laughable considering how much time they spent complaining last year over the cuts to Medicare and Medicaid in ObamaCare.

The Prof said:

ipsos poll, jan 12: 71% oppose raising debt ceiling, only 18% support more borrowing

Public strongly opposes debt ceiling increase: Reuters/Ipsos | Reuters

we know what boehner's broads and boys are gonna do

then it will be your move, dems, what card can you play

in a related matter, cbs january 15 finds a full 77% of americans want to see SPENDING CUTS vs only 9% in favor of raising taxes

CBS poll: 77% Say Cut Spending, 9% Say Raise Taxes - U.S. Congress - Fox Nation

checkmate

Click to expand...

Rather moot as the average American has no clue what it means to raise the debt ceiling, and more importantly, what it means if the debt ceiling is not raised.

justabubba said:

i emphasized the portion of your posts which prompted my participation in the thread
it was apparent you were ignorant of the feds role to bridge the gap between revenues and obligations
no need to thank me for setting you straight

Click to expand...

Let's not forget that in a healthy economy tax receipts ~ $2.7T. The biggest single thing one can do to improve the deficit is to fix the economy (which, would also allieviate much of the spending including income security). The idea that congress is going to achieve a balanced budget through spending cuts alone is an incredible myth. Santa Claus is more plausible.