Should we, or should we not...
 

http://news.yahoo.com/s/ap/20110115/...s/us_debt_wars

Let's get past the fact that this issue was maneuvered to the new year so it could become a political football for the new Congress.

Should we, or should we not, bump up the debt ceiling. I say no. No, strike that. I say HELL no. What say you?

Unfortunately, we have to. I presume you are familiar with the phrase "the full faith and credit of the United States." Not extending the debt ceiling would be nothing other than simple-minded grandstanding. Accordingly, it has a chance.

It would put the dollar in the toilet and it is not doing all that well as it is.

It does play into the hands of the right, because they would just as well see government shut down as keep going. Acting like true patriots, you know, consequences be damned.

Regards,

D-Ray

what of the consequences?

good grief, what is the next nonsense you have in mind?

I'm familiar with the phrase. However, if we're $14 Trillion in debt, its not the full faith and credit of the United States backing our dollar. Its someone else's credit.

Since our past, and potentially current, governing class shows no sign of spending restraint, when would you suggest the credit limit actually becomes a LIMIT?

Anytime I read your posts, nonsense jumps off the screen and enters my mind. :p

I say we pass out a big, fat tax cut. Oh, the hell with it, let's just stop paying the bills altogether, cut all taxes and devolve into anarchy. Then the loonies can finally live out their Mad Max/ Grizzly Adams lifestyle fantasies..............

No, seriously. I would say spending has to be cut and the ceiling stays where it is. Lower the ceiling as debt is reduced. What good is having a "debt ceiling" if all we do is push it up as debt increases? At that rate it's meaningless anyways so, why bother?

The real controversy behind it all is; What do you cut?

Dave

But it's our debt and by borrowing it we, as a nation, promised to pay it back.

Unless and until Congress, particularly those making all the spending cuts noises, show their meddle, the whole debt ceiling argument is a symbolic distraction. In many cases, the same folks clamoring for not increasing the debt ceiling want to increase DoD spending.

My tip to Congress - cut the tough guy rhetoric and silly symbolism and get to work finding meaningful cuts and enact them.

Right. "Shit or get off the pot!" as it were. They will want to cut everything except the expansion of empire.

Dave