The #$%$ (Obama, Geithner, etc) don't get it. Instead of continuing to raise the debt ceiling, they need to CUT SPENDING to REDUCE the debt. http://finance.yahoo.com/news/us-treasury-steps-avoid-borrowing-212214320.html
uh, it is CLEAR that you have no idea what the debt celing is... the debt ceiling refers to money we have *ALREADY SPENT*... if the debt celing isn't raised, then we are telling the world that for debts we ALREADY INCURRED, that we won't pay for it.
Don't you CONS understand that? this is a very simple basic fact
Congress all voted to spend all this $$ without raising revenue... and then tells the world "F YOU, we aren't paying for it" ????? wow... just wow...
"In the United States, the federal government can pay for expenditures only if Congress has approved the expenditure. If the total expenditure exceeds the revenues collected there is a budget deficit, and the only way that the shortfall can be paid for is for the government, through the Department of the Treasury, to borrow the shortfall amount by the issue of debt instruments. Under federal law, the amount that the government can borrow is limited by the debt ceiling, which can only be increased with a vote by Congress."
Let the Government shut down for a while instead of raising the debt ceiling. Then, maybe some of them will start getting serious about spending cuts.
I love ford first off.
But now the U.S. Govt. needs to call obammas bluff. GO OVER the cliff I say. Let it happen.
Reduce the benefits for all the entitlement programs. The obamma phones etc.
Additional tax for those making over $750,000 per year, O.K.
Blame the repugs. It's OK. In the long run obamma's history will be damaged.
Our children cannot bear the tax burden later in years while we are all dead and buried.
We need to stop this spending and make fiscal decisions now to save our country from BK.