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The debt ceiling: How high can it go? Will it EVER stop rising?

Discussion in 'Economics, Business, and Taxes' started by Barbella, Dec 27, 2011.

  1. American Patriot

    American Patriot Mayor

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    Obummer when campaigning in 08 slammed Bush for raising the debt ceiling by 4 trillion over eight years. Obummer claimed it was fiscally irresponsible and endangered future generations of Americans. Yet Obummer himself will more than double that amount in just three years. Nothing new about Obummer that has not already been said. Another example of real proof that Obummer is a liar, he is unqualified, he is a full blown hypocrite, he is incompetent and he is a total disgrace to our nation.
     
  2. MaryAnne

    MaryAnne Governor

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    I could live wth 60 billion.The fact is the war cost us much more and was not even paid for.It was done on our credit card.
    If Obama is spending 5 trillion to restore our economy I say,"Good for him!" We will get it back many times over when people have jobs again.
     
  3. MaryAnne

    MaryAnne Governor

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    Just what I was thinking,Tom.They live in LaLa Land,where down is up and up is down.
     
  4. MaryAnne

    MaryAnne Governor

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    That also includes the SS tax.We do not need cuts in taxes.They American people need jobs!
     
  5. MaryAnne

    MaryAnne Governor

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    Personal attack.You just lost the argument.
     
  6. Lukey

    Lukey Senator

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    Current federal revenue exceeds federal revenue levels when the Bush tax cuts were implemented (despite the extended shortfall resulting from the continuing lack of economic recovery under the failed Obama economic agenda):

    Revenue.

    So the Bush tax cuts haven't "cost" us anything (in the long term). On the other hand, our failure to control spending has cost us $5 trillion:

    awww.truthfulpolitics.com_images_us_size_spending_by_president.
     
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  7. OldGaffer

    OldGaffer Governor

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    Nixon tax rates, cut defense 50% over the next 5 years, problem solved.
     
  8. Lukey

    Lukey Senator

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    What "problem" is it that you are "solving?" The problem of America being the greatest nation on earth?
     
  9. American Patriot

    American Patriot Mayor

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    In answer to your original question, how high can it go? Well, if history is any indicator, with Obummer it could go to a Zillion if he gets his way, but I don't know if there is that much money on the planet. But how ever much there is on the planet, Obummer could find a way to spend it, and spend it real fast.
     
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  10. Woolleybugger

    Woolleybugger Mayor

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    Here is how it will end. A jubilee.

    Doctrine of Odious Debts.

    The Doctrine of Odious Debts was created to further international finance by limiting the ability of governments to repudiate debts. Three conditions had to apply before a sovereign state could repudiate a debt:

    (1) The debt must have been incurred without the informed consent of the citizenry of the state.

    (2) The debt must not have benefitted the citizenry of the state.

    (3) The lender must have been aware of conditions (1) and (2) at the time that the loan papers were signed.
     
  11. degsme

    degsme Council Member

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    Want some oats with all that straw you've been assembling?

    Why is it that cum laude conservatives can't seem to cite actual fact based data in a comprehensive manner without engaging in name calling?
     

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