Are you in favor of raising the Federal debt ceiling another $1 trillion? (UserQ)
What a prophetic poll question. President Obama has his hand out for $1.2 Trillion more to spend. The Super Committee wasn't able to cut $1.2 Trillion over 10 years, but Obama will find a way to spend it in under 1 year.
@enuf4me The primary, if not the only, task of the government is defense. Despite this, the gov't spends far more on social programs than defense, even when one includes the recent wars.
Why would we, so palin could by more birth-control for her slut daughter?
Save America, Ron Paul 2012!!!
lol political parties
Obama when he was running for president promised multiple times that the war would be over with the first 100 days. it wasn't. we are still spending money on war that we don't have. $5,000,000,000,000 in Obama spending. that's 1/3 the entire debt
and by far the largest contributors to the national debt were the wars in Iraq and Afghanistan. Actions that the Shrub administration implemented and refused to include in the budget or debt calculations. Tell me again How that is Obama's fault?
LJ check the facts about the cell phone issue - it is managed by the states as well as the federal government - and it is a subsidy the reduces costs for very low income individuals who make <135% of the poverty level. Doesn't make it free.
gunny is right. we are at 99.6 percent of GDP.
And yet the public debt continued to rise.
budget was balanced when Clinton was in office ....
For what it's worth, the US debt is now more than our GDP (100% plus).
The government pays for to many social programs. For example someone on Medicaid can get a cell phone that our federal government pays for. That costs a lot of money for the tax payers and it doesnt grow our economy. It just makes it more comfortable to live on tax payers.
But the policies in place are not help our economy explode. We are spending money to keep people living on the system. We are not thriving. Unemployment is high. 50 percent of the country is on some kind of government assistance. We will never grow our economy to I guess "erase our debt".
P4P and stopping NAFTA. maybe people should have listened.
but this isn't family finances. this isn't taking out a mortgage or using a credit card.
if the economy explodes in growth, it will be a non-issue. in a recession, the deficit widens, debt increases. this has negative effects on other aspects of our economy, such as currency valuation and interest rates.
RJ1969: Ross Perot ran for the Presidency in 1992 and 1996 and his platform revolved around stopping out of control spending by balancing he budget and paying down the debt.
you can borrow forever (hypothetically) as long as your economy grows forever.
LJ, you realize that other countries borrow from us too, right? and that most of the "borrowing" is from ourselves?
Its obvious that the danger of debt means nothing to some people. I understand that it may be a different kind of loan. But its still a loan. It is money that we are taking on the basis of giving it back with interest. And that can't last forever. We borrow 40 cents on every dollar we spend.
Dmanehu....most countries borrow and carry a debt. because some TV/radio jackasses tell you that now its a big deal (but it wasn't under the other presidents, going back 100 years) doesn't mean we're "bankrupt". the term doesn't apply to the national economy.
yeah! it will be just like those Mad Max fantasies you had when you were younger, only better!
Am I the only one stockpiling ammunition? I can give a crap if America sells itself into bankruptcy, my family will survive, my family will eat and I will have no remorse. Welcome to 2012.
yes, I understand that. and it needs to change.
RJ1969: US corporations move the corporate headquarters to a mail drop to take advantage of the lower corporate tax rate. They don't move mfr'ing to Ireland. Labor is cheaper elsewhere.
Speaking at the American Chamber’s 50th Anniversary in Ireland, Henry McGarvey, Chairman of the American Chamber of Commerce North West Region and Managing Director of Pramerica Systems Ireland said “Today we have over 600 US companies employing 100,000 people in Ireland
betwee 14 and 15% unemployment.
google Irish economy.
These include massive consultancy firm Accenture, insurance giant Willis Group Holdings, international shipping company TBS International, manufacturing giant Ingersoll Rand, medical device distributor Covidien, and electrical goods manufacturer Cooper Industries.
IN 2010, ABOUT 20 multinational companies have relocated their corporate headquarters to Ireland over the past year because they are able to pay “little or no tax” here, according to the Revenue Commissioners.
howz that tax rate doing for their economy? They're ranked up with the heavy hitters like Spain, Italy, and Greece. Good call!
P4P, in droves? which corporations are expatriating to Ireland?
Funny. 80-20 and people will just keep voting in the same people that keep borrowing & spending the same money they have for 100 yrs. interesting.
@RJ1969: Corporations have been moving their headquarters to Ireland in droves to take advantage of their 12.5% corporate tax rate.
BTW LJ...that's a Nobel Prize winner in economics. You should focus on the arguments and issues and not attack the person.
I think this thread is just about done. If, for some reason, you remain stupefied why the debt ceiling will be raised again and again and again and will always be raised, you might want to consider that your understanding of how a country works isnt the same as a lemonade stand or your finances.
LJ, our effective tax rate for corporations IS NOT the maximum taxable rate. our overall rates are comparable to most. corporations don't leave for tax reasons, they leave to pay workers nothing, especially into countries with socialized medicine so they don't have to pay health costs.
That only works if we can sell the country for more than we owe. Eventually, the interest payment will become too large. What do we do when that happens?
We are treating the National Debt like it is an Interest Only loan on a house we cannot afford... Paying the interest and put nothing toward paying down the principle. Raising the debt ceiling is like another interest only loan.
I want you to watch on you tube "eat the rich"
Yeah I read it. Typical liberal article. You still haven't answered my questions. If all that matters is our GDP to debt ratio. And Our government taxes corporations the highest tax level in the world. Those business go overseas and expand foreign GDP and our shrinks. Higher taxes are not the answer
LJ, it's not total amount of debt. it's the GDP:debt ratio. did you even read the article?
You wanna know why? Because money controls everything. And eventually we will be consumed in debt and our money will no longer be the coveted brand. No longer our greatest asset. It will become our downfall. No country in the history of the world has met our level of debt.
If the debt doesn't mean anything then why even keep track? Why does money even have value? Why keep borrowing? Why not just print all the money we need instead of asking someone to lend it to us? Why are there credit scores?
you can just google nobody understands the debt and pull up the NY Times piece.
you've got to read this.... www.nytimes.com/2012/01/02/opinion/krugman-nobody-understands-debt.html
If you were having trouble making ends meet and went to your boss for a raise, he might accommodate you the first. Try asking for another raise 4 months later and see what your boss says.
We went thought this back in August, so it is hardly knee jerk reaction.
keep dreaming. they will never quit spending.