U.S. Debt Ceiling

Discussion in 'Current Events' started by island1fox, Jan 7, 2011.

  1. island1fox

    island1fox Well-Known Member

    In recent history a Senator voted no to raise the Debt ceiling stating that government spending had to be controlled and that if the ceiling had to be raised it was a "failure of Leadership"
    Who was that Senator ??:wink2:
     
  2. over9five

    over9five Moderator Staff Member

    Our Messiah said that!
     
  3. Jones

    Jones fILE A GRIEVE! Staff Member

    From an interview with Bruce Bartlett concerning the debt ceiling:
    It can be read in it's entirety here.
     
  4. Bubblehead

    Bubblehead My Senior Picture

    Jim DeMint
     
  5. browndevil

    browndevil Active Member

    Let's start by reducing our defense budget.
     
  6. klein

    klein Für Meno :)

    Looks like no other option, but to raise the debt ceiling.
    Bruce Bartlett wrote well, about the major concequences it would have, if it wasn't raised.
     
  7. moreluck

    moreluck golden ticket member

    If it is raised, there needs to be tons of strings attached........All cuts of all kinds.
     
  8. bbsam

    bbsam Moderator Staff Member

    Should be interesting. Cuts at the Federal level should sink most of the states within a couple years.
     
  9. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Value Added Tax
     
  10. bbsam

    bbsam Moderator Staff Member

    And somehow I am to think that I'm paying less in taxes because the package it differently?
     
  11. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    With a VAT you will be paying much more in taxes. Think of a VAT as a national sales tax.
     
  12. cachsux

    cachsux Wah

    For the amount of debt we have it should have a ceiling that looks like the Sistine Chapel.

    sistine_chapel.jpg
    sistine_chapel.jpg
     
  13. klein

    klein Für Meno :)

    You know as good as I do, nothing will happen.
    The new budget will be out soon (with probably another trillion deficit), and they'll all sign it (with a little meckering),
    with the same old excuse, that they can't raise taxes or cut spending, until the econemy strengthens.

    And they'll agree to raise the ceiling.

    And life will go on, as the debt keeps on growing.
     
  14. bbsam

    bbsam Moderator Staff Member

    But the republicans won!
     
  15. tieguy

    tieguy Banned

    there you go an unemployed canadian fired for drinking on the job said it needed to be raised.
     
  16. tieguy

    tieguy Banned

    how do you figure? with vat I dont pay if I dont buy. In todays world I pay a tax even if I dont spend any of my money.
     
  17. tieguy

    tieguy Banned

    for those of you who may be wondering "meckering" is a small town in australia.
     
  18. klein

    klein Für Meno :)

    That's not how it works Tie, you get the pleasure to continue paying income taxes, plus lets say 7% vat tax on top of all services and goods.
    Yes, even gasoline goes up by 7%, an oil change for the car, a repair (car or home or appliance), flight tickets, all bought prepared foods (includes sandwiches at a grocery store, or a cup of coffee to work, even a hamburger and rotten ronnies or any restaurant for that matter.

    Plus all junk foods, like chocolate milk, soda pop, beer, wine, cigs, potato chips.
    Even school supplies, like paper, pencils, etc.

    Only thing that will remain tax free are basic foods (just the basic), - doughnuts are taxed, bread isn't. Milk, butter, cheese isn't taxed, but eggnog, chocolate milk, ice cream is.
    Coffee & Tea aren't considered basic foods here, they are taxed as well in the grocery shelfs.

    Even UPS, fedex and postoffice rates go up with the tax. Nothing is really spared.


    Tie, if you don't want the debt ceiling to be raised, then praise for higher taxes, cuts in ss and medicare/aid and whatever else they must do to save over a trillion.
     
  19. wkmac

    wkmac Well-Known Member

    You're right and they are getting off to a wonderful start too!

    New Congress, Same smelly underwear!

    The problem is not raising the debt ceiling itself but the fact that they see the debt ceiling as nothing more than another new benchmark to hit.
     
  20. klein

    klein Für Meno :)

    if they predict 1.27 Trillion, it'll be more like 1.5 Tr.
    If my math is correct, even at 1.2 Trillion, it works out to over $4000 added in federal debt for every man, woman, child in the US, next year alone.
    Not including extra state deficits.