America's debt

[tRidiot]

My disgust knows no bounds these days.

QFT

Fire them ALL and start fresh. We started fresh a couple of hundred years ago... we can do it again. Just that all the entitled masses will have to suck it up. My grandparents can come move in with me, I'm more than willing. My parents, too. We'll deal with it, if it'll keep my son from having to deal with all this crap when he grows up.

 

[Biggsly]

SMS already said it all...

To think that this is the Republican's fault is just laughable.

In the mind of a liberal, everything is the Republican's fault. Borrow more, spend more, buy more votes. Blame the results on the Republicans. Anyone that can not see that both parties are at fault, and that both are using this battle for political gain, needs to wake up.

 

[cjjtulsa]

This is not a Republicans vs. Democrats issue. This is a government out of control issue. For anyone to try and pin this issue on one party or another is simply full of ********. More than enough blame to shoulder on each side of the aisle.

I'm a relatively simple man. Often I see things in simple terms. To my eyes owing other people more than 14.5 TRILLION dollars is simply wrong. 40% of every dollar our government spends goes to service debt. That is insanity.

If I had my way there would be no increase in the debt limit. None. Congress, Mr. President, deal with it.

My disgust knows no bounds these days.

Well said.

 

[Werewolf]

The Republicans are playing a cynical political game with hugely high economic stakes

IN THREE weeks, if there is no political deal, the American government will go into default.

NO! The government will not go into default.

There is a constant stream of tax revenues from many, many different sources that the government feeds from all year. That revenue stream can easily feed pay as you go.

What will, should happen, is that the interest on the current debt gets paid ($750B or so annually) and the rest goes to pay other government expenses. Of course the rest isn't gonna pay for all the boondoggles foisted on the American public over the last 50 years. That's when some tough decisions will have to be made and that's where the real problem lies. Our current crop of politicians don't have the balls or enough concern for what's good for the USA to make those tough decisions.

AND that's when its gonna get real interesting around the good ole USA.

 

[DA 20]

Many will disagree with me, but one way to reduce the debt is force people to prove they paid some income tax to vote. Even if they only paid 5% they would get to vote. The elections determine how government is going to tax and spend and if you don’t pay any tax you shouldn’t have any say on how the tax money is spent.
Seems like a hundred years ago I was taught that your debt payment each month should not exceed 25% of your take home pay. I always tried to live by that method and still do today. When retired it can be much more difficult, but all you have to do is reduce spending.
As a retiree, after living by the above rules, we have a much more comfortable retirement than many of my friends that spent more than the 25% rule. Growing up during the depression I was taught that for everyday items that you might want, if you can’t pay cash for it, you wait until you can.

 

[Hobbes]

NO! The government will not go into default.

The government WILL go into default.
Maybe the interest will get paid to our Chinese banker friends but somebody will be defaulted on.

It might be seniors on SS.
It might be vendors who provide products to the government.
It might be be hospitals and healthcare providers.

But Somebody won't get paid on time.

 

[Twmaster]

Many will disagree with me, but one way to reduce the debt is force people to prove they paid some income tax to vote. Even if they only paid 5% they would get to vote. The elections determine how government is going to tax and spend and if you don’t pay any tax you shouldn’t have any say on how the tax money is spent.

I do not see that as working at all considering less than half our population cannot be bothered with showing up at a polling station once every two years.

 

[tRidiot]

Define "on time"? 'Cause hospitals and healthcare workers paid through gov't reimbursement are already paid 90-180 days behind...

I know, I got one friend who has billed in well over $100,000 to Medicare for the last 9-10 months and hasn't seen dime one yet.

 

[Werewolf]

The government WILL go into default.
Maybe the interest will get paid to our Chinese banker friends but somebody will be defaulted on.

It might be seniors on SS.
It might be vendors who provide products to the government.
It might be be hospitals and healthcare providers.

But Somebody won't get paid on time.

How's that Demonrat and Lefty media kool-aid you've been drinking taste? Cause you're wrong. There's plenty of money available to pay the interest on the US Bonds people and foreign governments have purchased and still have trillions left over in annual tax revenues to pay for the rest. Not all expenses for sure but if one eliminates all the BS programs that the Demonrats have created over the years there'd be plenty left to pay Social Security, medicare, the military, build roads etc.

Trouble is all you bleeding hearts believe that everyone in the USA has the right to live like they should have $200K houses, drive new cars, have $100/month cell phone plans, and send their 12 welfare babies to Harvard. Well it just ain't so. And there are strong indicators that most hard working Americans, millionaires and the entrepenerus who pay for all that crap are getting fet up with it.

It's going to get real interesting in the next few months, especially if the republicans stick to their guns and don't allow the debt ceiling to rise.

I for one am looking forward to it.

 

[tran]

We will not, can not, go into default. The US government currently brings in more than enough revenue to service the debt. It's the rest of the unearned entitlements and unconstitutional programs that will have to go. Not sure where they got their numbers but our gross debt to GDP is much higher than 65% and projected to go through the roof. Laughable that they claim 65% of your income tied to debt is "perfectly affordable"...what kind of economic buffoonary is that?

Using pensioners, soldiers, and suppliers as pawns is the true cyncial 'political game'. There is plenty of other spending that can go into 'default' before those highly emotional examples. Defense should be cut last since it is one of the few functions of today's government that is spelled out in, and authorized by, the Constitution.

You could tax every 'rich' person at 100% and we still couldn't balance the budget, let alone start to tackle the debt. That's a fact...not opinion. America doesn't have a tax problem, it has a spending problem. Period.

http://www.usgovernmentspending.com/downchart_gs.php?year=&chart=H0-fed&units=p

You are 100% Correct! We need to cut entitlement programs. It's time people work for what they get! and I don't mean the retirees. The day's of free money need to go by the wayside.