Debt Ceiling Vote a “Political Sideshow”, Mish Says: Real Issue Is “Govt. Spending Run Amok”

This a well resarched and thought out article which pinpoints thebcrux of our problem, ie, lack of resolve on all pols part to deal with the hard issue of how to reduce waste and govt spending.

YOU DO KNOW that we live in a DEMOCRACY and we can blame our elected officials all we want but the final word is ours if we choose to say it and apparently we don't ANDY

WE are concievably the most selfish greedy amorAL nation of adults ever, leaving 15 TRILLION $ debt for our kids and grandkids to pay they can't so we are going to lower totally their standard of living to that of Africa NICE JOB OBAMA

WE: the existing adults haveNO NOI NO intention of paing off the 15 TRILLION $ we've borrowed we are gonna totally screw our grandchildren and great grandchildren with this burden and we say we love our children ,grandchildren etc HAH!

a bunch of crooks, all 535 of them. in 2006, the Democrats were screaming bloody murder because of deficits. VP Cheney said "deficits don't matter" and obviously the whole GOP agreed with him and went on to spend like drunken sailors (my apologies to the sailors, they go home when the wallet is empty). Fast forward to 2011, the GOP is screaming bloody murder because of deficits while Democrats are poh-poh'ing the problem which is as obvious to us today as it was back in 2006.

Americans have to understand that you cannot expect the whole world and not paying taxes (or out of your own pocket) or that someone else than myself is going break his/her back paying taxes for my benefit. The whole of the US is on the brink of collapse because of GOP AND Democrats, they are equally guilty. The reality is that we will have to cut many key programs, including Medicare/Medicaid and Armed Forces, to be able to balance the budget. Tough choices have to be made but that is what they are in DC, Sacramento, Richmond, etc to do.

Why there aren't any cut on Congressman Wages, Pensions, or Benefits?

lets cut gov. perks. by the way, do the lobbyists pay taxes on their bribes????

Democrats screamed that deficits under Bush were "destroying our country" and "pillaging our children's future". I agree that deficits under Bush were harmful, but the FAR larger deficits under Obama and the Democrat Congress make Bush's deficits (and the lion's share of Bush's deficits took place with a Dem controlled Congress. Congress controls spending, not the President) look like a lemonade stand by comparison.

Since Obama and the Democrat controlled Congress increased the national debt over $4 Trillion in 3 years while skyrocketing the unemployment rate, they're screaming that any cuts to their out of control spending would tank our economy.

Take a close look at who these people are.. what they said before and what they're saying now, and the results of their wasteful spending binge. It's one of the purest examples you'll ever see of a group committed to putting their party and their politics ahead of the best interests of the country.

Dwight Eisenhower (the last real Republican) must be spinning in his grave! "Beware the military-industrial complex", he said.

It's the Defense budget stupid!

We now have almost 1000 military bases in around 130 countries. Add another 1000 in the U.S. Sounds like an empire to me.

Let's cut the the defense entitlements now, it's about 22% of spending. Let's stop the useless wars now and stop turning our brave young people into wounded warriors who will require medical and other assistance for life.

Ok thats just rich blame all this on Obama who came into office with the recession already in progress, he said it was bad mccain said it was bad, no one knew how it would unfold and it all unfolded badly while he was in office, so its all supposed to be his fault because he couldn't stop it. The man isn't asking for more money for himself hes asking for more money to help out the citizens of this country, and to pay the bills that are coming up very soon, when he came into office we were already into a 11 trillion dollar deficit likely was more but thats what they say, ok he's not in this by himself nor are the democrats, the republicans are blowing everything out of context like their the victors of all this, it doesn't matter who was in office when the deficit growth took place just know that its here it has to be dealt with.every time Obama ask for money the republicans grandstand and say no unless they can attach something to it, They don't shine light on anything their throwing money at are they and you know their spending it, heck they sign the checks.raise taxs back up to what they should be put people back to work, stop wasteing money on earmarks and subsidys that help the wealthy, reign in that 700 billion dollar tax cut for the wealthy.and stop useing us as sacrifical lambs in this recession deficit game their all playing. the republicans don't get a free ride in all of this. remember idiots they are the reason we are in this situation today. the deficit will never to be payed down if any of them truely cared about the deficit then why did they create one in the first place? raise the #$%$ debt ceiling and get on with it , it's our money i say pay the bills, the debt ceiling gets raised always without any flare now it's a side show, is it because of bigotry or bias or shear ignorance that we are playing this we're broke money game.If we're not so broke that they can give away 700 billion dollars without question as to how are they going to pay for it, and yes it is awasteful spending gimmick, then we ain't broke think about it.

Here are Obama���s thoughts on the debt limit in 2006, when he voted against increasing the ceiling:

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 U.S. Government can���t 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. - B. Obama 2006

Nobody knows how bad it will be if we default but we do know it won't be a good thing.

How about this? Politicians stop putting your party ahead of your country. Start making big steps toward a balanced budget today and, at the same time, prevent a default.

Once that is done, get back to work and make more progress toward a balanced budget.

Repeat until there is a surplus and we are pay off our debt.

Obama and liberals indeed run amok in spending. Obama is spending america into bankruptcy and i believe he knows it. He's pandering to his base for his 2012 re-election, those americans who think the gov't as their provider for their basic needs. Well, if the gov't has money then I could swallow the pain, but
real talk if we spend all these entitlement programs on credit .. that's another issue and a BIG PROBLEM. The president needs to know that the rate of govt spending is unsustainable .. the same say as the rate of americans buying house in 2006 upto 2008 was unsustainable.

At some point, it will reach its breaking point. How can an economic giant as big as america be bailed out?

However, Obama could care less about america's debt as long as he can secure his re-election. To do that, is to provide an artificial economic atmosphere that all is well economically in america. That america can still afford all the entitlement programs.

Behind the articial facade is large mountain of debt america is accumulating that threatens the economic future of the country.
Debt approaching 90% of GDP is record high for america. This has posed the the biggest threat
of america's extinction right below nuclear strike.

Not sure it really matters anymore. Most Americans are on the government giveaway programs and nobody wants to cut. When you consider welfare, food stamps, government subsidized schools and housing, school lunches, tarp, bailouts of GM, Chrysler, union pensions, banks, Fannie, Freddie, and the list goes on and on, then theres all the government agencies like border patrol, homeland security, the pentagon, dept. of energy, interior, and the list goes on and on, then there is all the subsidies for cities, agriculture, states, and that list is endless. THERE ARE NOT ENOUGH PRIVATE TAXPAYERS TO PAY OR VOTE A DIFFERENCE. IF YOU THINK WE ARE BROKE NOW -JUST WAIT!!! GOD BLESS AMERICA!

The solution is actually quite simple. We have to make moderately painful cuts to the military, entitlement programs and discretionary spending, while modestly raising taxes for everyone, including the 49% that pay none now. Why can't our politicians get this done?

Obama loves his ideologies more than America .. He was never proud of america .. before he's proud now.

To hell with the rising debt, as long as he wins 2012 re-election and let those who are successful subsidize for the lazy and failures.

That's Obama's contract with his people.

Like all Ponzi scheme it requires more and more funds to continue.....

Congress is spending the money faster than bernanke can print it.

David....That extra tax money from the last 20 years, do you think the government would have saved it? NO!! They would find some new agency or welfare state to give it to! The question is simple: Who do you trust with YOUR money, yourself or the government? Seems pretty obvious.

Its like a teenage girl asking to max out a second credit card to go to the mall and the parents letting her