Is a Downgrade of US Credit Inevitable?

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OKCHunter

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I'm not so sure. We need to be able to borrow money in case of a war - so an air tight balanced budget amendment would not be good. On the other hand if we don't make it air tight then they will work out weasel ways to keep increasing spending for their favorite pork projects.

Assuming I understand correctly, a 2/3 vote in the Senate could modify a balanced budget Constitutional Amendment in the case of needing to borrow during a time of war.
 

RickN

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Most of our representatives in Washington are drug addicts. The drug is the power that comes from being able to spend enormous amounts of money.

What we are seeing is a junkie afraid of losing his supply of drugs. He will do anything, say anything, to be able to keep on spending.

I may start believing some of what they say when they make structural reductions in the size of the federal government.

So true!!!!

What gets me is that if Obama gets the increase he wants, he will have increased the debt ceiling more in 2-1/2 years then Bush II did in 8, and Bush was already a big spender.

If you look a the link below, you see that all the promises of cuts through the last several admins have been nothing but BS.

http://www.foxnews.com/politics/2011/07/26/raw-data-past-debt-ceiling-increases/
 

Dale00

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Food doesn't come from the grocery story and government services and programs aren't free.

Basic ignorance is widespread and makes us vulnerable to the actors in D.C. who promise to take care of us.

When enough of us stop clamoring for the "free stuff" and start demanding a reduction in federal programs, then real change will happen.
 

Glocktogo

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Inevitable? I think we need to encourage it! I think we should be pressuring our "leaders" in DC to NOT pass a budget or increase the debt ceiling. I think it would be perfectly acceptable to lose our AAA credit rating, because we haven't earned it and don't deserve it. I think we need to send a clear message to Congress and the Obama administration that the party's over. They can either stop spending like drunken sailors on shore leave or face the consequences.
 

Dale00

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They can either stop spending like drunken sailors on shore leave or face the consequences.

As others have pointed out, our representatives are less honorable than drunken sailors. Drunken sailors only spend what they have. Our representatives demand more money to spend.

More specificity is needed beyond just "reducing spending." Citizens need to demand the closing or drastic reduction in size of various specific federal agencies. I look at the Department of Education, Department of Energy and the Environmental Protection Agency as good places to start.
 

dru

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Assuming I understand correctly, a 2/3 vote in the Senate could modify a balanced budget Constitutional Amendment in the case of needing to borrow during a time of war.

Wouldn't we need 2/3 of both houses AND 3/4 of the states ratifying an amendment to the constitution that would have the effect of "amending" the balanced budget amendment? Actually, that might not be a horrible idea. it would keep us from running off to war for various reasons under the pretext of patriotism
 

Glocktogo

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As others have pointed out, our representatives are less honorable than drunken sailors. Drunken sailors only spend what they have. Our representatives demand more money to spend.

More specificity is needed beyond just "reducing spending." Citizens need to demand the closing or drastic reduction in size of various specific federal agencies. I look at the Department of Education, Department of Energy and the Environmental Protection Agency as good places to start.

Shrinking the .gov is a good idea, but it's just a drop in the bucket. The real drain is on socialized welfare. Not individual welfare mind you, but corporate welfare, nation welfare, industry welfare, community welfare, etc. If the .gov wasn't so busy giving away our tax dollars, they'd have enough left to run the .gov we have 10 times over. :(
 

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