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They don't have to. They are elitists.
They aren't paying attention
They don't have to. They are elitists.
The truth hurts. Provide a link to any credible economist that does not think defaulting would be detrimental to the economy.
Not raising the debt ceiling would be a good thing.
Signed,
Cutting off noses to spite faces
Those 76% of Americans are not likely to be able to tell you what the the Debt Ceiling is and what not raising it would mean.
If you ask these people if they want to deal with the results of a default I promise you 76% aren't going to say yes.
But in any event, if the GOP wants to listen to this indicator of the will of the people they should do so and they should do so loudly and proudly. They have the power to keep the debt ceiling what it is but I wonder how they would deal with the political ramifications that would come from a default? I'm guessing it would not be good for them.
Obama's right. Most Americans don't know what the the debt ceiling is, beyond just some abstract number that's in the news these days. Lord knows I'm no fan of the debt our government is running up, and I'd like to see us run a balanced budget but even I know you've got to raise the debt ceiling.
don't the majority of americans support rasing taxes on the rich to help with the deficit..
just sayin..
What those 74% of Americans suggest is the alternative to get the money? Because the vast majority of Americans don't want cuts in SS or Medicare either...
The United States won't default - that's just a scare tactic. There's enough money coming into the treasury to service our debt, with money left over.
Taken from the Rush Limbaugh show last Thursday. I know, I know, many of you will dismiss this completely because of who said it - but explain how he's wrong. We don't have a revenue problem - we have a spending problem.Now, the debt is the bonds issued by Uncle Sam backed by the full faith and credit of the US. Deficit spending is all the insane spending the government does that outstrips the money that it takes in from taxes, fees for government services, sale of these bonds and government land, all of that. No one is saying we should default on our debt. What I'm saying is we won't. We can't. I mean we literally can't. We couldn't if we wanted to. Well, we could if we wanted to if we just stopped accepting payments which is what we would have to do. We cannot default, and there's no reason to default. It's a scare tactic. With the number of bonds that the Treasury has issued, it costs the government about $20 billion every month to service this debt. But the government actually takes in about $200 billion every month, minimum. So we easily have enough to cover the debt service of these bonds. In fact, we could easily cover debt service even if the debt limit was slashed instead of raised.
We've got enough money to cover the debt -- (interruption) $20 billion a month to cover the debt service on the bonds we sell, period, is all we need. The rest is just for spending. The problem is that Obama's spending 300, 500, $600 billion a month more than the $200 billion coming in. That's the problem. The problem is not that we don't have enough revenue coming in to service the debt or the bonds, the sale of the bonds, and Obama is counting on nobody understanding this. Again, the government actually takes in about $200 billion every month. We easily have enough money to cover the debt service, and we could cover that $20 billion a month if we cut, if we reduced the debt limit.
To avoid default all we have to do is to keep making interest and maturity payments on the bonds as they come due. The rest ought to be Obama's political problem, not ours. We're the ones that want to live within our means. He's the one who wants to spend $300-plus billion dollars a month, when we only got $180 billion coming in after we make the $20 billion payment on service to the debt. That's not a default issue. That's a scare tactic. There is no default. It's a common sense problem any adult understands. You can't keep spending money you don't have. We don't have the money.
But it is baloney, and I don't care who said it. Obama can't just say "don't pay for Medicare or Social Security". Those are expenses allocated by law, and it's up to Congress to restructure them in order to make them viable. As it stands, the money to cover that has to come from somewhere.
Barry just today dared Boehner to get their party in order and get serious on cutting spending + rein in SS and Medicare spending. We'll see what he does.
He's wrong because the 'insane spending' he's referring to has already been apportioned through bills that have been passed by congress and, is in fact, part of the debt. His premise is incorrect.
There's so much waste in the federal government - there's plenty of money if they'd just cut the waste, fraud and abuse. And EVERY single department could sustain a minimum 10% cut. But everyone has their sacred cows and it seems no one wants to make the tough choices. We can't keep borrowing more and more money.
Lets raise SS and medicare rates. Leave taxes alone.
The debt ceiling is going to be raised. Let's not be stupid about this.
WC has a great point. Cut the big three's budget (SS, Medicare, Medicaid) by 1/3. Dept. of Ed and Ag can use some trimming. Get rid of the IRS completely and if all that doesnt work- then raise taxes across the board. Let everyone get the same percentage of their earnings taken away from them.
Cut defense while you're at it.
Tell Boehner to do it. Barry just said he has no problem compromising on a re-work of Medicare and SS...
While they're at it, cut defense spending and close some tax loopholes too.
They already are cutting defense.
Not as much as initially proposed.
Sacred cows.
"Barry just said he has no problem compromising on a re-work of Medicare and SS."
Barry's already counting his speaking fees, Wall St consulting fees, etc, after Jan 2013.
You're calling a 2012 win for the VRWC? Country that ed and un able?
yep, if Barry's cuts $Ts from the Big3 while raising only a few $100B in revenue from taxes/loopholes, he's a goner. In fact, touching the Big3 will be fatal. He knows, all Dems know it, the Reugs know it.
The Repugs will win both branches in 2012 (they already own SCOTUS) and America's " ed and un able" will become much worser ed, and it will be blatantly clear to even the pollyanna s here.
Trillion wasted on jack stimulus.
Let the house of cards burn to the ground and let's get this party started!
Which is why paying attention or caring about politics, or this country, in the first place is completely pointless.
"completely pointless"
You're getting the message. Citizens' are totally ignored and disenfranchised.
Wall St and UCA "vote" against default, there won't be a default, the limit will be raised. Only their votes count. And there's nothing voters can do to defeat UCA and its subsidiary, the US govt.
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