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Debt limit fight is serious

Debt limit fight is serious

POSTED: Sunday, October 6, 2013 - 4:40pm

UPDATED: Wednesday, October 30, 2013 - 4:45am

It doesn’t really make any sense.
Almost no one does it the way we do.
Only one other democracy has a debt ceiling that must be approved.
Denmark has a debt ceiling, but they set it high enough that they don’t have these periodic political standoffs.
Everyone else simply borrows what they need when they need it.
The debt ceiling is currently $16.7 trillion.
But now, in 11 days, we bump up against it again, and this time it comes in the midst of another crisis, the government shutdown.
And though that is harmful to the economy, and expensive, it is dwarfed by the potential for harm of a US default on debt.
The debt limit hike was always just a formality, since everyone knew it isn’t authorizing more spending, but simply paying for what has already been approved by congress. But the public may not be aware, and see it as just more Washington wastefulness.
The last crisis in 2011 resulted in the US credit rating being downgraded from triple A.
That costs us real money in terms of US borrowing.
And the world is watching again. And both sides are digging in, again.
But this time, the stakes are enormous.


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There are some groups of companies that numerous people have been waiting for the CFPB to get under control. Probably the top one would be debt collection agencies, which have been issued numerous guidelines by the Consumer Financial Protection Bureau. Source for this article: are there any real payday loans

deaf, if you are indeed a vet honorably discharged from the service, you are an absolute disgrace...without a doubt. You do not love this country, you do not support progress, you do not care about your fellow countrymen and women who struggle to make a living, feed their children, keep a roof over their and those like you are the problem and a stumbling block to finding solutions for ALL American are one sorry voice that is going to be downed out by REAL Americans!

The funny thing is....the only times in this nations history that it has ever had a balanced budget has been under a Democrat President......THATS A FACT

Listen up...the tea swillers are not only after repealing a healthcare system that is law, that is working...down the road, they, and those like the Koch brothers, are gunning for Social Security, Medicare, multiple federal agencies, etc. Your darling slash-and-burn clowns are not going to stop with screaming about the Affordable Healthcare Act, but they're coming for everything, EVERYTHING, that keeps this country afloat. Anarchy = society without government or that what you want?

When debt becomes meaningless then wealth has no value.

When paying our bills becomes meaningless then wealth has no value.

...and the GOPitifuls continue to be led around with rings in their noses by the noisy anti-American tea swiller rabble that OWNS the GOPitiful party now. Don't blame the Democrats...Congress has raised the debt ceiling over 40 time to accommodate the paying of our debts, keeping the full faith and credit of the United States safe...deaf, you will go down with the rest of us if the debt ceiling is not raised...blame yourself for voting in tea party idiots...and shut up when it happens!

This is gonna be good..... ok pubs don't be on here crying when the interes tates go up on your trailer houses and your 401K balance is -0-....oh y'all probably don't have a 401k cuz y'all are more than likely not working or on welfare.

The House of Reps is responsible for making a budget. Balanced budget= no new debt. The House of Reps is controlled by the Repubs who want smaller gov't but won't make the tough choices. The US last had a budget SURPLUS & paying down the debt of GHW Bush under Clinton. GW Bush gobbled that up and made new debt "shock & awe-ing" 2 countries then rebuilding them @ $6TRILLION while America's infrastructure falls apart. Thanks for nothing 41 & 43
Boehner needs to do his J-O-B & stop pointing fingers

And most of these 'democracies' go bankrupt to.

Say did Greece have a debt limit? No?
In fact look at the Scandinavian countries. They are all going bankrupt with their socialist polices ahd they have no debt limit.

No debt limit is like a unlimited credit card. Just a way to crazy idea.

Is that so? Well then tellus all which Democrate has gone bankrupt as you put it. BET YOU CAN'T!

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