House Debates $800B Debt-Limit Increase

Discussion in 'Politics & Current Events' started by Chicago1871, Nov 18, 2004.

  1. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    House Debates $800B Debt-Limit Increase
     
  2. Claymore

    Claymore Member

    Jul 9, 2000
    Montgomery Vlg, MD
    Club:
    DC United
    Nat'l Team:
    United States
    Time for more tax cuts!!! YEEEEE-HAAAAA!!!


    :rolleyes:
     
  3. bigredfutbol

    bigredfutbol Moderator
    Staff Member

    Sep 5, 2000
    Woodbridge, VA
    Club:
    DC United
    Nat'l Team:
    United States
    I'm amazed there aren't quotes around the word 'debates' in your headline.
     
  4. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    I'm amazed this doesn't upset more people.
     
  5. GringoTex

    GringoTex Member

    Aug 22, 2001
    1301 miles de Texas
    Club:
    Tottenham Hotspur FC
    Nat'l Team:
    Bolivia
    The New Republican Party is the Old Republican Party without the fiscal responsibilty.


    [​IMG]
     
  6. michael greene

    Oct 31, 2002
    Selfishly, as a federal employee, I'm glad to see this since they were tapping my retirement funds to pay the bills.

    But someday that bill is gonna come due, and a lot of people are in for a lot of hurt. There is a clear choice to be made; continue living beyond our means until a crisis hits, or confront the problem before it gets worse.

    Care to guess the choice that will be made?
     
  7. diablodelsol

    diablodelsol Member+

    Jan 10, 2001
    North Ridgeville, OH
    I think it's more that it doesn't surprise anyone.
     
  8. coachklowco

    coachklowco New Member

    Jan 27, 2003
    Newark Ohio
    Ok help an idiot out.

    Without an increase what happens?
     
  9. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    Simply put the US can't spend more than it already is. To approve the increase would be like giving an irresponsible teenager who is already burried in debt a credit card with a higher limit.
     
  10. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    see: a dangerous situation tied closely to this developing here.
     
  11. coachklowco

    coachklowco New Member

    Jan 27, 2003
    Newark Ohio
    I guess what I am asking is what happens with a 'federal default' (from article)?

    I guess what I am looking for is what exactly happens if we don't pass this?

    I assume value of dollar falls through the floor, heavy borrowing from retirement funds, ????

    Basically do we have any choice on this? Not passing it seem as if it would do more harm than passing it.

    And cheers in advance for educating the idiot.
     
  12. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    I'm basically recalling economics and finance courses from college, but if my understanding is correct; if the increase doesn't pass (it will) then the US will either be forced to curb it's spending significantly or find alterative areas to "borrow" from. Currently I believe the gov't is dipping into funds and basically saying "we owe you." If the vote doesn't pass it would be a huge mistake for Bushco to not raise taxes (one of many reasons they really should). If (when) the vote does pass it will basically be an increase in the line of credit the US has to borrow against. The excessive spending will continue and Bush will probably cut taxes again.

    In my mind this vote passing will end up doing bigtime damage if Bushco. doesn't curb spending AND raise taxes. The success of this vote will do far more harm in the end to the value of the dollar than would a failure, IMHO. But Bush is more interested in being like by Americans during his time in office than actualy making this country a better place. That isn't to say he doesn't love it, but is just making wrong decisions in several areas.
     
  13. TheSlipperyOne

    TheSlipperyOne Member+

    Feb 29, 2000
    Denver
    Club:
    Arsenal FC
    Sometimes I wonder if Visa or Mastercard runs our government. I have credit card debt and yet they still raise my spending limit every couple of years.

    I love me those Reeps and their fiscally conservative outlook!
     
  14. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    Just wondering if we will ever reach the $1 Trillion debt limit within this Administration

    $1 trillion=$1 million X 1 million

    That is just unbelievable.

    Maybe if we move more companies overseas to pay lower taxes and lower their payroll our country we can get to that figure. The pointless war in Iraq is certainly helping us get there, and the good news for those wishing to reach the $1 trillion goal is there is no end in sight for the war

    And if we can get "W"'s "tax cuts for those that certainly don't need it" to be permanent that'll help.

    What a disgrace
     
  15. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    Bush Signs Debt Hike into Law

    Apparently in the Delay hubub this wasn't widely reported on. It's not a bad thing...yet, but the proper steps must be taken to keep a hold of things. How much you want to bet those steps aren't taken? How about 100 Euros?
     
  16. FlashMan

    FlashMan Member

    Jan 6, 2000
    'diego
    Club:
    --other--
    Nat'l Team:
    United States
    the "conservatives" have just butt-******** the entire american future. they have asked for blow jobs from the people and received them carte blanche. they are not only a scourge on the land, they are a scourge in their own pathetic, insipid hearts. they are butt-**********. most of them are nazis from the south. others are nazis from texas. all of them are nazis. pathetic.
     

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