Debt limit will be reached on Monday...government shut down

Maybe YOU are willing, but the *********s n congress are not.

They are not willing to cut corporate welfare either.

 

That is a straight out LIE. The TEA Party is 100% for cutting corporate welfare and stopping crony Capitalism. In fact, unlike Barack Obama we have been having speakers at our rallies support stopping it for well over 4 years now.

[video=youtube;3A_q831Ldrs]http://www.youtube.com/watch?v=3A_q831Ldrs[/video]


You Liberals can spread all the lies you want, but you will constantly be exposed for the liars that you are.

 

And time to raise taxes on every income level.

Americans want more government, so it's time they pay up. All of them !!!!

 

I'm not a Con so i am not sure who this "You" is when you reply to me..

Keep up the partisan ranting it is amusing at least.

 

Correct. It simply leads to a loss of confidence among our sovereign creditors, increasing the perception of financial insolvency.

 

That would be spending...... We agree... Keep trying to score cheap points this isnt a game.

 

Please let the Federal Government shut down for as long as it takes. People need to know life won't come to a screeching halt if it does. My own biggest interactions with the Federal Government comes bi weekly when they strip money from my paycheck and annually when I have to file an income tax return. Better yet, shut all but essential services of the Federal Government every other month till we save enough money to substantially pay down the national debt. I doubt most folks would even notice.

 

You mean before or after the airplane pile up in the airports?

 

That's great news. If it happens maybe the dummy voters will stop electing Repub idiots.

How bad do you think the riots will be?

 

For some strange reason the idea of paying for government operations with taxes escapes most people.

 

A further reduction in Uncle Sam's credit rating will increase the old fellow's borrowing costs as he becomes a less creditworthy debtor. In turn this will make it increasingly difficult for Uncle Sam to borrow or function. It exacerbates the internal inconsistencies the old fellow is trying to hide, and exposes them for everyone to see.

 

Yes. From the perspective of the creditor, as the United States becomes a less desirable debtor, their confidence decreases. Desirability is typically based on the factors which guarantee timely and complete remittances. If a debtor country does not meet certain criteria, a creditor demands greater interest payments or payment on a country's principle. If the United States as a debtor country refuses or becomes financially incapable of making such remittances, it acknowledges that it is in a state of sovereign default.

 

Are you referring to refinancing existing debt as well as the origination of new indebtedness?

 

OMFG!!!! The government will shut down!!!!


GOOD!!!!

Just like they shut down every weekend and holiday and the world keeps on going.

 

Seriously! The leftists don't seem to realize that our alienation and disaffection now extends to all things federal.

 

Obama should invoke the 14th Amendment, Section 4 and on his authority raise the debt as needed to meet government obligations much of this demanded by actions by Congress. If this goes to court it will take time to make a decision and will give the government breathing room and its possible the courts may rule in his favor since the amendment is pretty in its wording government debts must be considered good. Amendments are usually pretty much solid in how they give powers and it would trump the presidential limits if the courts say that public debts must be kept up then its a clear power afforded the executive officer of the nation.

If nothing else it would be funny as the Conservatives deal with this.

 

Presidents of the U.S.A. can't do that anymore.

A past Congress took that right away from the President after being fed up with how easily the President could move money around the government, in one of the few times that they actually gave themselves more power instead of handing it away to the administration.

Now, the only one with the purse strings is the Congress.

 

I am referring to a typical path a country travels towards sovereign default.

Refinancing existing debt involves changing the maturity and yields of sovereign securities. For the United States, this would entail that the Treasury issue long-term debt and buy back short-term debt. Doing so would hurt the economy in the short-run by eliminating liquidity from financial markets, increasing yields over the long-run, thereby making it harder for the economy to return to full-employment output.

The origination of new indebtedness comes from increased borrowing.

 

I hope we don't limit the debt ceiling now.

Think of all the desperate government employees who will be furloughed!

 

Hopefully the ACA, taxpayer funded abortion and gun-control legislation go over the cliff, maybe they'll find the Constitution down there too, it hasn't beeen used much lately.

In the words of Democrats...Never waste a crisis, lovin' it.

Ever wonder what the world would be like without America to kick around? Maybe we're not to far from finding out.

 

"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." ~ The boy who would be king, 2006

 

There is plenty of money to pay existing indebtedness. The federal govt has plenty of assets to sell. Sort of like a banana republic. There is no need to borrow another new dollar.

For example, there is no need for the US to maintain the Fifth Fleet in Bahrain. That expense could be eliminated entirely without any problem or adverse effects.

 

“Why is it right to increase our nation’s dependence on foreign creditors? Democrats won’t be making an argument to support this legalization, which will weaken our country.” ~ Harry Reid, March 16 2006

 

I'm sure they could save a fortune by scrapping the IRS, too. It's all far too complicated and convoluted, a horribly bloated, wasteful venture.

 

No fair. We have no power to not elect the two parties who keep raising the debt ceiling at our expense, and otherwise wasting our money. We simply have no option. It's always (D) or (R), every (*)(*)(*)(*)ed election cycle.