Quote:
Originally Posted by joeydb
I think this sort of message always stops spending:
At least it does for individuals and businesses. And, if there is no effect on spending as said above, then why is everyone pushing for a raise of the debt ceiling? |
the money has already been 'spent', the debt ceiling has to do with the difference between money on hand and what's borrowed.
if we want to lower our debt, we need to re-do the budget, or raise taxes. the debt is what the govt uses to finance what taxes don't cover.
regardless of party in control of the white house, the debt ceiling becomes a political football. when bush was president, the repubs had no issue with raising the debt ceiling, and dems fought it-such as obama, when a senator. of course, now the shoe's on the other foot.
but it's a ridiculous stance to take, as the very congresspeople now fighting over this debt ceiling are the same ones who control the purse strings, the spending, the budgets, which aren't in line, haven't been in line, and require the govt to borrow in the first place!!
it would be like your wife and you buying a house, two cars, etc, and then refusing to finance it-you want to pay in cash, but you don't have the cash. but you agreed to buy all those items. so, you fork over your cash, and then what? that's where the govt will find itself if the ceiling isn't raised, again, as it has been raised however many times over the years.
in a nutshell, congress passes tax and spending bills that make a budget deficit necessary and they are now refusing to allow the borrowing to finance that deficit-a deficit congress created!
if they want to stay under the current debt ceiling, they need to change their tax and spending bills.