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What do you think of the debate on raising the national debt limit? What do you think is the best way to correct our current debt problem in general. Cutting Spending only? Raising taxes only? A combination of both? Do you think a Constitutional Amendment requiring Congress to have a balanced budget is necessary? Vote in the poll and post your ideas and concerns below.
I think it should be spending only. We pay a very high tax rate already. This meek gesture of "cutting" the budget recently by a few billion when our debt sits in the trillions is nuts. We cannot sustain ourselves by living in debt. We are going to have to get rid of most social and entitlement programs if we as a country are going to survive. Alot of people have grown so dependant on government for their every whim. That needs to change. If they can't survive on their own they will have to learn because we as a society need to stop supporting them.
I still do not think that either side is serious about this. The cuts that have been proposed have been between 1.5 and 2.5 trillion over the next ten years. However, the increases in revenue, that really does sound better than tax increases are to take effect immediately. Funny how the cuts take effect when most of these political types will no longer be in office. I whole heatedly agree with pgg on the entitlement programs. Social security is a ponzi scheme that would land people in jail if anyone but the government was running it. The moocher class is destroying the budgets on the national, state, and local levels like never before. See exhibit A:
http://www.youtube.com/watch?v=0cKxCATYCJk
Get a sugar daddy, you freaking parasite | Nealz Nuze | www.boortz.com
Click the link for the full story.
By Neal Boortz
Most of you already know what I think about Section 8 housing. What’s that, you ask? Welfare housing, that’s what. Section 8 housing describes residential units where the occupant is using the government as an instrument of plunder to seize money from someone who has earned it, and then give it to them to help pay their rent. If you want to destroy an apartment building or a neighborhood .. just move some Section 8 parasites in. Then arm yourselves. It’s going to be an ugly and dangerous ride.
So … The Dallas Housing Authority decides it’s going to take some applications for Section 8 housing. The moochers and parasites start lining up in the early morning hours. Someone gets the bright idea to open the doors early, and there’s a stampede. The people at the end of the line rush the door – and all hell breaks loose. But hey, that’s exactly what you would expect. These are leaches and parasites; so expecting normal human behavior from them is only going to lead to disappointment.
After the stampede and near-riot, the media arrives and starts the interviews. Of course some of the moochers have such hideous communications skills – youknowwhutamsayin? – that you can’t understand a word coming out of their mouths. The only phrase they’ve mastered is “would you like French fries with that?”
But there was this one girl who looked pretty good. No visible tattoos. Couldn’t see any piercings in her nose, eyebrows, lips and cheeks. Pretty hot, actually (though the fun-bags may have been aftermarket). She wants here Section 8 money because she’s a student and she doesn’t want to work so hard so she can spend more time on her studies.
Dayam!
Here’s what she’s actually saying:
“Look. I’m, like, a student and I’m having to work too hard and I like need to spend more time like studying. So here’s what I, you know, want. I like want the government to go find someone else out there who is like working as hard as I like do, but isn’t in like school right now so they don’t have to study and stuff, and I want the government to like take some money away from them and like give it to me so that I don’t have to like live in a dorm and stuff (ewwwwwww) and can like study, you know what I’m sayin?”
Know what? Before this chickie-poo gets to use the government to seize one damned cent away from a productive American, she should exhaust all possible means of financing her own sorry existence. If she has to drop out of school to earn some money and then go back, then that’s life, sweetie. Or – just go out there and get yourself a Sugar Daddy. Then you can quit the rest of your jobs! Just invite him over once a week or so and fix him some tacos or something. Then maybe dessert. Flan; that should do it.
Immoral? Sing that little ditty to someone who gives a flying fornication. Using the government to take someone else’s property and give it to you doesn’t exactly make you Mother Teresa, you know.
http://www.weeklystandard.com/sites/...aelRamirez.jpg
I would really like to hear the rational of the ones that voted to keep borrowing money.
And like five-0 said. Cuts over 10 years are nothing but fluff. We need cuts now. All these people on welfare need to be told "you have two months to get a job and start paying your bills, after that you are on the street". We need to eliminate all of these programs now. There are thousands of farm labor jobs that they can have. And don't tell me that it is too hard. I worked farm labor while I was growing up. Everything I have or have had I've earned myself.
Here's an explanation of what is likely to happen if we don't raise the debt limit:Quote:
Originally Posted by pgg
More here: How the US debt ceiling could hit your finances - More Money - Money Magazine's personal finance blogQuote:
"By dint of what comes in on a day-to-day basis, the government can keep paying about 60 percent of its bills, and will fail to pay the other 40 percent," says Alan Blinder, a Princeton professor and former vice chairman of the Fed.
If you're relying on a government check — a benefit check or a paycheck — you may or may not get it after Aug. 2. (The government is scheduled to deliver a round of Social Security checks on Aug. 3.)
Some lawmakers are trying to figure out who's first in line. A trio of Republican lawmakers introduced a bill on Wednesday that would have the government prioritize military salaries and debt payments. Not on their list? Social Security and unemployment.
Interest rates
Interest rates are extremely likely to rise. That means higher rates for credit cards, home mortgages, auto loans, and student loans, among others. How much they go up depends on how panicked the market gets.
"Even if it doesn't turn out to be calamitous, almost surely it's going to raise Treasury interest rates," Slaughter says.
That would bring the borrowing capacity of families down, and could seriously slow down business investment — which means less hiring.
The worst-case scenario? "If the markets really go into a tizzy, we may get to a situation in some markets where the rates hardly matter at all because you just can't get credit," Blinder says.
Another recession
If the impasse lasts for more than a few days, the economy will "almost certainly" be pushed back into a recession, Blinder says. That's because of an unprecedented cutback in government spending. Even if the government avoided default by paying off its debt, losing the ability to borrow would mean a 40 percent drop in government spending — about 10 to 11 percent of GDP.
The stock market is very likely to tank, as well, driven by a serious loss of confidence in the U.S. government.
"You will get the investing community, not just of the United States but of the entire world, thinking that we've lost our marbles over here," Blinder says. "And we will have — because [failing to raise the debt ceiling] is a completely crazy thing to do."
The GOP isn't serious about cutting when they put up meager cuts. Knowing Obama is going to veto any proposed cuts they would be smart to go nuts and offer significant reform to campaign on next year.
But they're not.
You don't know enough about this issue, and you shouldn't, you pay Barack to think for you
http://www.youtube.com/watch?v=64yhiih53F4
That sounds nice Jenna but we are going to face the same thing soon again if we raise the debt ceiling. We need to make serious cuts NOW!!! Neither party is proposing it since both are just trying garner votes. The Federal government has it's hands in alot of things that it has no business doing. If we cut all those then maybe we can lower our tax rates even more.
Here is my challenge to every liberal that thinks we need to raise taxes. Open your checkbook and give them all that extra money you have. Don't take anymore of mine. I'm ready paying way too much.
The problem is that they won't cut where cuts are needed they will continue to cut the middle class. They need to cut where the money is being wasted .
Just out of curiosity, those that voted yes, do you know how much money the federal government took in last year in revenues? All taxes, not just income taxes.
I voted yes because I don't think that enough cuts can be made now to cover the bills. I think a temporary increase, with a set expiration date for it to default back to current level (if thats even doable) would be acceptable to me, so that more time can be made to make the cuts. I think it would be unwise to make such huge cuts to quickly.
Actually....read thisQuote:
Originally Posted by Xiphos
Coburn Ups Ante in Debt Ceiling Standoff, Pushes Plan to Save $9 Trillion - FoxNews.com
At a time when President Obama and lawmakers of both parties are struggling to find spending cuts of $2 trillion to $4 trillion, Sen. Tom Coburn, R-Okla., is offering his colleagues a menu of options for far more ambitious savings.
Coburn is unveiling a plan to reduce deficit spending by a whopping $9 trillion, shrink government by some 20 percent and balance the budget, all within 10 years.
Read more: Coburn Ups Ante in Debt Ceiling Standoff, Pushes Plan to Save $9 Trillion - FoxNews.com
It would be nice to see the party unite behind Coburn's plan.
Yes it would. I was in agreement with your previous statement and was very suprised when after leaving this site for foxnews and saw that. The plan isn't perfect, but man, it's a good start. Everybody is pussyfooting around the issue.Quote:
Originally Posted by Xiphos
I'm at the point that, very simply, I don't give a shit about parties or the rest of it. Do the fucking job that the politicians were elected for, pass an extension to debt ceiling so that the world doesn't fall apart (solid information says failing to do so would be very bad, for the US, and the world economy & our recession recovery is pretty precarious), the fix the freakin' problem by actually passing a sane budget, trimming what's needed and raising taxes if there's no other way.
Yeah -- that does mean scale national health care, Medicare, and even Social Security to something workable. That's life.
Quote:
Originally Posted by Jks9199
Let me opt out today,and they can keep everything I've contributed so far. THAT WOULD BE A BARGAIN IN MY OPINION.
Amen!Quote:
Originally Posted by Five-0
A letter to the editor I saw today. An interesting point, considering that the vast majority of those not paying taxes are the ones voting in politicians that will keep their entitlements coming.
Quote:
Who pays the taxes
EDITOR: I was rather amused when President Barack Obama went on a rant against tax breaks for those who fly executive jet aircraft. He flies on the most expensive executive jet in the world and all at taxpayers' expense.
After his diatribe about tax loopholes, I decided to look up who pays the taxes to the government. I found that the most productive people, the top 1 percent of the income earners, pay 40.4 percent of all income taxes. The top 5 percent pay 60.6 percent, the top 10 percent pay 71.2 percent, the top 25 percent pay 86.8 percent and the top 50 percent pay 97.1 percent of all income taxes.
Then I learned that the lower 47 percent pay no taxes at all. Now that has to be the biggest loophole imaginable.