Quote:
Originally Posted by Relentless
Robbie,
If we don't raise the debt ceiling we default in AUGUST.
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What I keep repeating...is that today they will once again SPEND 10 billion dollars and bring in revenue of 5 billion.
How the hell can they defend that when we are so far in debt already? If they stopped spending
(you know...bring back the troops from Afghanistan: Bin Laden is dead,
bring back the troops from Iraq: Saddam Hussein is dead & there were no weapons of mass destruction,
stop bombing Libya: they didn't attack us,
bring the troops home from Germany and Japan: We won WW2 in the 1940's, and the list goes on and on and on) then maybe we wouldn't have to BORROW MORE MONEY to a pay for the money we already owe.
Also...I have watched several folks on CNN flat out say that the "debt ceiling" is something that we created to STOP borrowing money. But every time we hit it...it gets raised!
So my question would be...with revenue coming into the feds in August of 174 BILLION dollars, couldn't they simply STOP SPENDING twice the amount they are bringing in and instead use some of THAT money to pay the interest on the debt and NOT go into default and NOT go further into debt?
Nobody seems to be talking about the fact that if we raise the debt ceiling we are digging even deeper into debt with absolutely no way to ever pay it off.
That is my understanding. And yeah, I "get it" that IF we were to default it could be disastrous. But the self imposed "debt ceiling" (that has never been adhered to) and defaulting on the nations loans are two different things.
How about we simply don't spend double what we bring in everyday and instead pay the debt with the revenue that is already coming in? But to the money hungry politicians in Washington D.C. that is just crazy talk! lol
We can't keep borrowing to pay for money we borrowed. Nobody can. And those politicians can keep spinning it anyway they want...but common sense and mathematics shows that it won't work. They have to stop spending now.