sort of a good thing, cause if we do hit it, then over the course of these next two years we'll have an income of a ton more cash.
Whats the point in a debt ceiling if it's just going to be raised everytime it's hit?
[QUOTE=Atwal;38982649]Whats the point in a debt ceiling if it's just going to be raised everytime it's hit?[/QUOTE]
To make people scared.
It is about time they start reforming the way they give free money to people. I really think unemployment should act more as a temp agency than a free money agency. The military can take a huge paycut. We buy so much extra shit yearly it is ridiculous. They also need to change the way that the end of year spending occurs. If you don't spend it you lose it is a terrible way to budget.
Oh well, time to move to GB or Germany.
Also, SatansSin , AVATAR SOURCE!
[QUOTE=Aetna;38982430]If 90% of our currency didn't exist strictly as numbers on a screen, we wouldn't have this issue.[/QUOTE]
That's not the problem.
The problem is that there's retards in charge of those big numbers on a fancy screen.
[QUOTE=SatansSin;38982581]Why don't they just print more money?!
[sp]That is not a serious post[/sp][/QUOTE]
I realize this isn't a serious post, but it is actually a possible solution. One with devastating long term results, but it does technically work if your only goal is to get out of debt. It's just all the other things that make it a really, [i]really, [b]really[/b][/i] fucking bad idea.
the answer is to abolish capitalism
I dunno why we even care about our debt anymore because all the other countries know we aren't paying them shit back, if they wanted to do something about they have by now but the US is a mothering country and without the entire world would be screwed in multiple ways.
And this is why the GOP is hated by anyone, foreign or domestic, with a functioning brain in their head. When faced with a "Fucked either way, but one option fucks everyone else too" stalemate the GOP would sooner take the option that fucks everyone else than be seen compromising like sane people. Bah. Neither side is exactly clean here, but the GOP is being particularly stubborn and summarily refusing every single proposal thrown their way if it means the rich get taxed more.
[QUOTE=Stopper;38982302]Can someone closely familiar with US' politics explain what this means in basic terms?[/QUOTE]
It means that, when faced with a "Fucked either way" situation, the republicans would sooner doom us all than compromise and make shit work.
Time to up the taxes for the poor again!
Maybe they can pay with their soul someday...
[QUOTE=Waffle99;38982677]It is about time they start reforming the way they give free money to people. I really think unemployment should act more as a temp agency than a free money agency. The military can take a huge paycut. We buy so much extra shit yearly it is ridiculous. They also need to change the way that the end of year spending occurs. If you don't spend it you lose it is a terrible way to budget.
Oh well, time to move to GB or Germany.
Also, SatansSin , AVATAR SOURCE![/QUOTE]
We need free fucking college and healthcare. our damned politicians are some of the farthest right in the world.
[editline]27th December 2012[/editline]
[QUOTE=TestECull;38982727]And this is why the GOP is hated by anyone, foreign or domestic, with a functioning brain in their head. When faced with a "Fucked either way, but one option fucks everyone else too" stalemate the GOP would sooner take the option that fucks everyone else than be seen compromising like sane people. Bah. Neither side is exactly clean here, but the GOP is being particularly stubborn and summarily refusing every single proposal thrown their way if it means the rich get taxed more.
It means that, when faced with a "Fucked either way" situation, the republicans would sooner doom us all than compromise and make shit work.[/QUOTE]
well if they don't do anything a lot of those rich people will be fucked anywho.
For you Americans moving to Canada, Canada will get screwed if the US is in a debt crisis. It affects us and the market elsewhere. You're better off going to Mexico.
[QUOTE=Van-man;38982693]That's not the problem.
The problem is that there's retards in charge of those big numbers on a fancy screen.[/QUOTE]
True, but at the same time, were there always a physical form of currency, would it not be impossible for them to spend more than they have?
I don't know much about economics but, if the US enters this crisis at that point what will exactly happen as effect to the US citizens?
[QUOTE=garychencool;38982794]For you Americans moving to Canada, Canada will get screwed if the US is in a debt crisis. It affects us and the market elsewhere. You're better off going to Mexico.[/QUOTE]
And IF you're a thrill seeker, then there's dosh to be made regarding almost anything related to cocaine
[QUOTE=Aetna;38982875]True, but at the same time, were there always a physical form of currency, would it not be impossible for them to spend more than they have?[/QUOTE]
Its called "credit"
"How to american citizens spend more than they have"
[QUOTE=Medevilae;38982752]We're [I](most likely) [/I]headed over the cliff, we're going to see cuts across the board[/QUOTE]
seems like political suicide to go over the cliff. a deal will be made.
[QUOTE=areolop;38982964]Its called "credit"
"How to american citizens spend more than they have"[/QUOTE]
You're missing my point. Credit is a flawed system and this is the result.
[QUOTE=Aetna;38982875]True, but at the same time, were there always a physical form of currency, would it not be impossible for them to spend more than they have?[/QUOTE]
People would just write IOUs to each other.
[QUOTE=Aetna;38982984]You're missing my point. Credit is a flawed system and this is the result.[/QUOTE]
Credit is required for investment, it is not the system but the fact that the US is using it as an infinite source of money.
[QUOTE=Aetna;38982984]You're missing my point. Credit is a flawed system and this is the result.[/QUOTE]
So is loaning money, but hey, if you're responsible and do your research, then it works.
As I've already said, the problem are twats in charge of investing & banking.
The solution would be strict goverment control of all money related institutions, and not loaning out money or investing more than the bank/investing companies actually has.
[QUOTE=Van-man;38983075]So is loaning money, but hey, if you're responsible and do your research, then it works.
As I've already said, the problem are twats in charge of investing & banking.
The solution would be strict goverment control of all money related institutions, and [b]not loaning out money or investing more than the bank/investing companies actually has[/b].[/QUOTE]
It's too late, short of a complete collapse there's no way to revert to something stable.
[QUOTE=Aetna;38983108]It's too late, short of a complete collapse there's no way to revert to something stable.[/QUOTE]
and not having money in a credit form would have it's own failures that's for fucking sure
[QUOTE=Van-man;38982892]And IF you're a thrill seeker, then there's dosh to be made regarding almost anything related to cocaine[/QUOTE]
You mean drugs and guns.
We need to sell more cheeseburgers.
The funny thing about all of this is that Congress knows well and good it can't get a balanced budget and will always go farther into debt, and they've known it for a long time. The problem is that whenever they try to make a quick fix for it, it always involves them delegating their powers to another branch of government, saying "Quite frankly, we know that we can't do this, so we want you to." And both major instances where this has happened (NYC v Clinton (giving the president line-item veto so he can cut out anything that he can't spend on out of bills that are passed) and Bowsher v Synar (forcing the comptroller general to make across-the-board cuts whenever the budget isn't balanced, and forcing congress to abide under penalty of law)) the Court has found it to be in violation of separation of powers or the presentation clause.
So rest assured, America- Congress knows that they're digging themselves a hole and are incompetent, but any time they try to give the powers of budgeting away, then they're stopped.
(The only solution is to drastically cut the defense budget, tax hikes on the rich, and tax cuts on the middle class on down. Any one of these three aren't going to solve the problem by themselves, and simply put, we're going to have to start austerity if we don't start doing this sort of stuff. I'd rather see my army cut then my medicare.)
[QUOTE=smurfy;38982465]Cutting taxes and doubling the defence budget is the only solution[/QUOTE]
my mom actually believes this. She said Reagan fixed the economy by lowering business taxes. She thinks he had the best economy of any president :v:
[QUOTE=TheDestroyerOfall;38982733]
well if they don't do anything a lot of those rich people will be fucked anywho.[/QUOTE]
They can afford to downgrade their Ferrari Enzo to a ZR1 Corvette and start living on self-cooked quail dinners. They do that and they're fine. Those of us struggling just to keep the light bills on can't afford our taxes to go up any higher. People who are barely scraping by as-is will quite literally end up on the street if there's nothing accomplished in Congress before the cliff hits.
The GOP does not care about that little tidbit. The GOP just wants to stick to its guns regardless of what happens.
Gees, if you remove the entire defense budget, you'll be able to pay it all in 32 years (give or take 3).
Christ almighty how could this get so far out of hand?
[QUOTE=Cheat_God;38982549]Well, people have to pick one or the other.
Fix unemployment, or fix the deficit problem?
If you cut spending, it puts more people out of work, and if you keep spending, you have higher deficits.
We just need to stop complaining about everything and fix things one at a time.[/QUOTE]
spending for everything but the military has been getting cut significantly ever since Bush's 2nd term. It's still getting cut, just look at nearly everything talking about "budget cuts".
So we cut the military or nothing
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