Debt Ceiling

[EMAWmeister]

http://www.cnbc.com/id/101031116

They are 100% going to raise this, right? I mean, they have to.

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

How do you raise a ceiling without first raising the walls?

[yoga-like_abana]

[sonofdaxjones]

All time record tax collections.

But we're still going to have about an $835 Billion dollar budget deficit

[p1k3]

looks like the House Republicans are digging in again. Defund Obamacare or defund the government. #bid

[puniraptor]

obama should mint that trillion dollar coin then hit the links for the rest of his term

[K-S-U-Wildcats!]

The Dems are right: It's irresponsible, unpatriotic, and downright evil to question raising the debt ceiling after the money has already been spent.

Of course, the Dems also believe it's irresponsible, unpatriotic and downright evil to try to cut the spending before it's spent.

So what's the solution? Obviously, just keep spending! Yay, more sugar for everyone!

Those evil Republicans who want to condition a raise in the debt ceiling on cuts in spending - they're just evil. They hate children, and women, and minorities, and gays and... I'm not sure what this has to do with spending... but Republicans are evil.

Have we learned nothing from the devastation wrought by the Sequester?

[K-S-U-Wildcats!]

You know, sarcasm aside, this is an interesting gambit by the GOP. Pass a continuing resolution funding the government except for Obamacare, the Senate will (of course) strip out the Obamacare provision, and the House either retreats or the government "shuts down" (not really, but that's how it will be portrayed).

The GOP is banking on the fact that Obamacare has become so deeply unpopular, and its unintended consequences have become so well publicized - and this is true - that they will finally win the PR battle with respect to a government "shut down." They will argue that they are perfectly willing to funding all programs except Obamacare - and passed a CR doing just that - but the Senate is holding the entire government hostage because it insists that Obamacare be funded. The Dems will argue just the opposite, that the GOP is holding the government hostage by refusing to fund Obamacare. They'll both be right.

My guess is that, even though Obamacare is incredibly unpopular, the GOP will come out on the losing side of public opinion. The Dems' messaging through their MSM allies is simply still too pervasive. Hysteria about a government "shut down" because of GOP intransigence will be in most every newspaper and MSM broadcast.

Still, it's going to put some "blue dog" Senate Dems from states that hate Obamacare in a very tough position...

[Dugout DickStone]

I am in favor of a government shutdown.  At least until we have completed the coca harvest

[Rage Against the McKee]

My guess is that, even though Obamacare is incredibly unpopular, the GOP will come out on the losing side of public opinion.

Yeah, the public will probably side with the group that isn't trying to hold the economy hostage here.

[Emo EMAW]

My guess is that, even though Obamacare is incredibly unpopular, the GOP will come out on the losing side of public opinion.

Yeah, the public will probably side with the group that isn't trying to hold the economy hostage here.

Which group is that? 

[K-S-U-Wildcats!]

My guess is that, even though Obamacare is incredibly unpopular, the GOP will come out on the losing side of public opinion.

Yeah, the public will probably side with the group that isn't trying to hold the economy hostage here.

Thanks for your input, Krugman, but that's just stupid (unless you believe that profligate government spending and mountains of debt is the only thing keeping our economy from being shittier than it already is).

But awesome example of the talking points we'll hear from the Dems, and which will be repeated ad nauseum by their MSM accomplices.

[K-S-U-Wildcats!]

"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."

That's our President!

[Rage Against the McKee]

"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."

That's our President!

What did he say that was incorrect?

[K-S-U-Wildcats!]

"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."

That's our President!

What did he say that was incorrect?

The entire purpose of a debt ceiling is to encourage a cap on spending. That's the whole rough ridin' point, you dunce. If Congress just continues to raise it, it means nothing at all. Thus, continually raising the debt ceiling absolutely "promotes profilgacy."

[Rage Against the McKee]

"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."

That's our President!

What did he say that was incorrect?

The entire purpose of a debt ceiling is to encourage a cap on spending. That's the whole rough ridin' point, you dunce. If Congress just continues to raise it, it means nothing at all. Thus, continually raising the debt ceiling absolutely "promotes profilgacy."

My credit line is constantly getting extended, and it's not increasing my debt. What's the difference?

[K-S-U-Wildcats!]

"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."

That's our President!

What did he say that was incorrect?

The entire purpose of a debt ceiling is to encourage a cap on spending. That's the whole rough ridin' point, you dunce. If Congress just continues to raise it, it means nothing at all. Thus, continually raising the debt ceiling absolutely "promotes profilgacy."

My credit line is constantly getting extended, and it's not increasing my debt. What's the difference?

That difference is what makes Obama's statement doubly-stupid. Not only does raising the ceiling "promote profilgacy," it also directly increases our debt. Raising the ceiling is what allows the treasury to issue more bonds. The bonds are the debt.

[Rage Against the McKee]

It seems to me that the spending is the debt and the bonds are the only means to pay that debt responsibly.

[K-S-U-Wildcats!]

It seems to me that the spending is the debt and the bonds are the only means to pay that debt responsibly.

Well, you're wrong. The issuance of bonds are the actual debt, but that's a technicality. The more important point is the idea that this continual raising of the ceiling, without taking action to correct our overspending (to Obama, there is nothing to correct), does not promote profligacy. That's either stupid or dishonest on the part of our President.

[Rage Against the McKee]

It seems to me that the spending is the debt and the bonds are the only means to pay that debt responsibly.

Well, you're wrong. The issuance if bonds are the debt, but that's a technicality. The more important point is the idea that this continual raising of the ceiling, without taking action to correct our overspending (to Obama, there is nothing to correct), does not promote profligacy. That's either stupid or dishonest on the part of our President.

The budget is what it is. Maybe next year Congress should try passing one.

[OregonSmock]

Wait... so there are actually people out there who think the GOP's strategy to defund Obamacare is a good idea? 


    

[hemmy]

I am in favor of a government shutdown.  At least until we have completed the coca harvest

You know who isn't impacted by a shutdown? ==mods== mango farm.

[K-S-U-Wildcats!]

It seems to me that the spending is the debt and the bonds are the only means to pay that debt responsibly.

Well, you're wrong. The issuance if bonds are the debt, but that's a technicality. The more important point is the idea that this continual raising of the ceiling, without taking action to correct our overspending (to Obama, there is nothing to correct), does not promote profligacy. That's either stupid or dishonest on the part of our President.

The budget is what it is. Maybe next year Congress should try passing one.

That is the fault of the Dems in the Senate - not the GOP in the House. It takes both houses to "pass" a budget. The House has repeatedly passed budget resolutions. The Dems in the Senate just want to keep spending. It's almost as if they don't care... I mean, we'll just the raise the debt limit anyway, right?

[Rage Against the McKee]

There hasn't been a budget because the GOP doesn't want one.

[K-S-U-Wildcats!]

Paul Ryan nails it, as usual:

The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government can not pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that "the buck stops here." Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.