Do you think a debt-ceiling compromise will be reached within the next week?
20% of the govt is shut down....so what?!?!?! I really don't care.
its actually way less than that
Do the people saying "hope not" realize that a default is far, far worse than raising the debt ceiling? These people are either just ignorant of how the government works, or completely insane.
We won't freakin' default. We take in ~$2,000,000,000,000/year. Our debt payments are nowhere near that. We'll just be forced to re-prioritize our spending. And that's a great thing!
Yes and all the hand-wringing doomsayer pundits will have wasted lots of oxygen. We've seen this "cry wolf" story way too many times.
Honeybadger don't give a shit about pundits.
I hope not but too many (R)'s are weak. They will cave. 2014 cant come soon enough to weed out non-hackers from the truly conservative ranks...
I hope not
it's probably gonna be a last minute thing. idiots. I hope the American Sheeple remember this come November. And I mean both Republicans and Democrats. let's show them we're tired of their BS
Vote out EVERY incumbent.
The bipartisan "screw" will happen.
I hope not. We don't need it.
Obama voted NOT to raise it in 2006 when he was a Senator, oh but now he wants to raise it. Huh. That was back when the debt was half of what it is now. He also called Bush unpatriotic for spending so much his 8 years, Obama has spent more in 4 years
Keep it shut down!
You make my head hurt.
Is Obama a moron?
18 trillion and no way to pay for it how long is this to go on. Answer from the president is capitulate and then will negotiate.
Place a contract to buy a house and then go back and negotiate the price later...
I sincerely hope so but with the self-serving, non-compromising, grandstanding Neanderthals still calling the shots it is unlikely. I just hope everyone remembers this in 2014 & 2016. Enough is Enough!
we have to vote out the two party system for that to,really change anything
Everything is all covered in shit because all we have are pussys and assholes chuck!
no but here's to hoping. would like to avoid another great depression
I hope they don't. At least of our elected officials are finally listening to us and doing what WE want them to do!
Speak for yourself. Not all of us are ignorant enough to believe that financial suicide is a great idea.
It appears that Obama and Reid do not want to compromise. Boehner caved and that still wasn't enough. So, no. I don't think they will come to an agreement.
I hope so, our country can't afford another economic crisis.
Maybe. But it wouldn't surprise me if it isn't reached.
They pretty much have to. The balanced budget amendment, that's a horrible idea. you need to deal with your debt when it's too high, but not having the ability to temporarily spend more than you take is just bad (think mortgages/home equity loans)
Debt ceiling is how must debt you have outstanding; it doesn't say anything about whether you are taking in enough to make your payments (principle plus interest)
What's wrong with requiring reps to balance OUR budget? In other words, to use our money efficiently and to
not keep increasing the borrowing limit.
Almost no Americans have a balanced budget or all our credit cards would have zero balance. I know people will post here saying they do, but they are the minority.
You're saying we will never be able to balance the books again, just keep on spending to no limit? And yes, we
need to borrow $, the question is why keep letting us borrow more and more without being able to pay for it. I
can't just tell my CC company to keep increasing my limit because I need to spend more. Ludicrous.
No I was simply applying that to a balance budget amendment. I agree we need to reign in spending but also that revenues needs to be fixed as well For example churches shouldn't be 100% tax free as 100% of their budget doesn't go to charitable works
Yes I do
It's not a drop dead date. You still have another week or so.
Long term -No
I have zero confidence in congress right now to get anything done.
Of course. It is all just theater.
Good compromise: Raise it this one last time only if a Balanced Budget Amendment gets passed and signed into law. Spend only what you take in, and quit borrowing over your limit knowing full well you won't be able to pay back the loans. Duh, Congress, get it right.
As long as its before the next election.
Seriously, lets start using a little bit of accountability.
Will we also quit cutting tax rates knowing full well that the budget is dependent on current rates? Will we criminally prosecute corporations that skirt their tax obligations?
Will we eliminate tax loop holes and fix our tax code overall so that corporations and the rich can have a tax rate inline with what the middle class has?
Dan, how 'bout that Flat tax. I think a good idea. And no subsides to oil companies or any other Corp or industry!
That's all just a plausible hypothetical scenario for this week.
Congress isn't stupid enough to let it happen. With that being said, it will probably come down to the last hour before we do hit the "debt ceiling". And that will probably once more degrade our credit rating. Then lead to another recession.
Congress is plenty stupid.
2 weeks of being wrong for me already, here's hoping I don't hit the trifecta!
The biggest issue is spending cuts, if that doesn't happen nothing will ever change
Nothing will ever change. They will
Give here and it will only get worse.
I'm all for a 50% reduction in defense spending.
If anything happens on the next week it will be more like rape than compromise. Just to be clear POTUS and the Dems will be playing the part of rapists.
Glad my life has not been affected yet.
Me too. Most peoples lives won't be.
If the debt ceiling doesn't get raised for some time? In the best scenario, you can expect the economy to contract by 4-7%. That's a real bad recession, everyone will feel that.
Most predictions see it much worse.
fredd aren't their international economist who would disagree with you on that?
Yes, most international economists believe it could be much worse, potentially ending the era of the Dollar as the world reserve currency.
Quit raising the debt limit and make a budget based on what we have
People can't get re-elected on a platform like that. More free stuff is what the people want. :-)
The idea is to raise the debt limit, then not use it. But that's a lot to ask.
How can the idea be to not use it since we're currently running a deficit? If not using it were the plan then wouldn't Democrats be offering proposals that wouldn't necessitate an increase in the ceiling?
RJ that's the dumbest thing I ever heard, they are raising the debt ceiling, "to not use it". So if they are not going to spend anymore, then they don't need to raise it. Come on man!!!!
In the short term, it must be raised and then used. It is possible, than if the economy were to grow, coupled with some tax increases and a lot spending cuts, we would run a surplus again and kiss the deficit goodbye...for a while.
Not not raising it isn't an option. At all. To even suggest that is stupidity. That's like quoting your job so you don't have to spend money on gas to drive to work.
I see what you're saying RJ, but $17 trillion later I don't believe either party when they say stuff like that. They're liars and I think we have to cajole them into a shutdown to cut the cycle of deficit spending. They're not trustworthy.
Yeah RJ, it works out for those who have credit cards that are at the maxed limit, they just call the creditor to ask for more credit so they can pay the debt down. Hmmm dam we have some genius's in this country.
Except we are our own credit card company.
I don't understand how you don't get that we are the worlds currency. The best way for that to end is to do exactly what you're advocating. It's called shooting yourself in the foot.
From my perspective, RJ, raising the limit doesn't work. It's like giving a meth addict another hit as a strategy for helping him to quit. Doesn't work.
They (both party's) need to come up with a mutual bill that works or both, that reduces spending, cuts the deficit, then they can talk about raising the debt ceiling, but since 2007 it's been one continuation after another
The way this works is it's not a total value, a total amount we owe. It's a relationship between the RATE of growth of the deficit and debt and the rate of growth of our economy.
Owing it to ourselves is mostly true, but moot. "Ourselves" means pension plans and the like. Those funds want to get paid no less than a foreign lender.
Sure, it's hard to reduce spending. But it can be fixed. The biggest obstacle to all this is a small subset that's threatening to shoot ourselves in the foot.
RJ we might spend the most, but our country is not invincible. If you continue to spend without owing what you have already spent, well simple economics, we will collapse.
Sure, but that money goes right back into our economy.
That's the same as using one credit card to pay for another and every month you change cards to pay for the monthly bill, but the amount never goes away, it's transfer after transfer, after transfer, with the same amount of money but somewhere else
If we issue debt, there is somebody to buy it. It's (partially) market driven. If our economy was going to collapse, do you think people would take those sub-2% treasury notes over something like Greek debt at 15%?
Good night folks.
RJ all that is gambling, just like going to Vegas, people do it, all to try and make a quick buck. Not thinking oh $hit I could loose. They automatically have a mind set of winning. That is a risk they are taking, it still does not eliminate 17tril
Goodnight. My bedtime as well.
Rest assured, if there's one thing we know about our plutocracy, if there is money that can be made/lost, the representatives in DC will do whatever they're told to do.
I hope not. What WOULD we yell at each other on SOH about?
1600 Thuggery Avenue
But you're not racist, right?
If by racist you mean she's against debt spending, then yes, she's a racist. Me too.
Only took 7 minutes after the comment for someone to pull the race card. That pretty much sums up Obama's presidency. Don't like him? Well, you're just a racist. It's brilliant in its simplicity and whorishness.
Calling Obama a thug is criticism of policy? Ever heard people who objected to Bush policies call him a thug? Keep blowing your dog whistle, cowards.
Yes. Pretty dang dumb isn't it?
Against deficit spending. "Racist."
Against big gov. "Racist."
Against the same democrat policies that we were opposed under Clinton and continue to be against now. "Racist."
Yes. They called bush a thug and every other name. Wake up boy!!
I'm pretty sure I called bush a thug more than once and have never called Obama one. If he would have said "I don't like president Obama" you would have called him a racist too. If anyone is a coward, it's you.
Why doesn't it surprise me that you have a homophobic profile pic
@thatguy, why doesn't if surprise me you cannot argue anything on the topic other than calling people racist. It's really pretty sad to see you scream racist because you have no valid talking points or anything to offer anyone.
I responded to a post calling Obama a thug. What topic did you want me to discuss?
I'm sorry, would you prefer we call Harry Reid a thug? Because he's white that's ok? But since Obama is black it isn't? Pulling the race card over a comment like that is just an annoying. Why not come back with a statement that proves her wrong?
What I'd like is for people stop pretending like there's nothing racist behind calling O a thug or Muslim, or demanding to see his birth certificate, etc. O isn't vandalizing cars or holding up a liquor store. There, I proved her wrong
Thatguy has quite an imagination.
Equate the Tea Party with murdering terrorists and it's all good. Criticize any of Obama's actions and you are a racist.
@thaguy, I guess if you want this to be about race then that's all you'll see. Most of us don't care even a little what color he is. Hopefully you learn to let go of all the hate someday.
"Racist, racist" [barking seal sounds]
It's about as dumb as you can get. The race card is soooooo overplayed that it's become meaningless.
Go ahead and label me a racist then. I don't care. Racists unite!!!!!!!
GAME BREAK: Bottom of 8th inning with 2 outs, bases loaded, Big Papi hits a Grand Slam to tie the game 5-5! What a game!
Alright, back to your regularly scheduled programming...
Red Sox win, Bottom 9th. Series tied 1-1.
I don't think even the tea people (at least most of them), want to be the first ones to fail to raise the limit or to see what happens, amendment 14-wise, if they do.
Yes we do.
I've said this before, 11:30pm October 16th.
I'm standing by it.
Oh did the treasury department say it would run out at the beginning of the day on the 17th or the end?
No, but on that date, politicians will be forced to pay the interest and cut spending elsewhere to do it.
That'll cost votes for all involved on both sides. They'll probably act like it was heroic.
Could be Okie.
Obama is the victim. Elderly vets are the oppressors.
I agree. Obama is getting picked on by rich people. LEAVE HIM ALONE YOU MEAN PEOPLE.
Old rich people.
Old, rich, veteran people. "Those people."
Old, rich, white, veteran people.
Yes! Beware the 90 year old in a wheelchair! DANGER!
Paraplegics on the loose! Look out!
I don't know if I'd use the word "compromise," but the Republicans will once again just do everything the Democrats want.
Do not believe faith healers, however do accept power of prayer
Or praying for our govt? They need healing for sure.
Wrong poll, however prayer for Govt would be wasted
Washington is insane, cannot predict a crazy person
Darn it, I switched questions, APPLY WHERE APLICABLE
I hope it does.
Our corporate overlords won't let it happen.
I'm not sure when our government stopped serving the people and became selfish, narcissistic losers but, it's time for a change. Make the people heard in the next election cycle and no one gets voted back in.
No the demorats are refusing everything sent their way!
Words can't describe the little faith I have in Congress in general but it would be a display of stunning stupidity and desire to lose their jobs if they don't reach a compromise.
It will be interesting if anyone will remember a year from now. I assume it will be raised, otherwise I'm quite sure we will remember.
My money is on the 17th. Probably around midnight.
I think republicans should give Obama the same exact thing he voted for when he was a senator.
He was wrong then just as they are now.
No he was right. If the debt ceiling is lifted we need more spending cuts to go along with it so we don't have to raise it again.