Posted on Nov 4, 2015
Can you explain why the debt jumped so much overnight?
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Responses: 11
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SSgt Alex Robinson Probably for 339 one billion dollar gas stations in some obscure country who didn't really need it in the first place.
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They are using accounting trick to hold back the "debt". :) so when the ceiling lifted ... they just dump it all in ...
Technically, they already shot pass the ceiling even before they lift the ceiling ....
Technically, they already shot pass the ceiling even before they lift the ceiling ....
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The limit on their credit card was lifted, and the spending went unchecked. The GOP signed away all of its leverage to avoid a fight with the spendthrifts.
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Capt Seid Waddell
SSgt John S., the debt ceiling is meaningless if it is raised automatically every time we reach it. It should absolutely be used as leverage for forcing budget cuts in order to live within our means; it should force us to prioritize our spending. States commonly do this because they don't have a printing press in the basement for cranking out money as needed.
There is a lot of frivolous spending that could be cut, and there is a lot of spending on lower priority items that can be cut to bring the budget into balance.
Throwing away the only leverage they have to control spending (the primary Constitutional function of Congress) is a dereliction of duty of the worst sort.
There is a lot of frivolous spending that could be cut, and there is a lot of spending on lower priority items that can be cut to bring the budget into balance.
Throwing away the only leverage they have to control spending (the primary Constitutional function of Congress) is a dereliction of duty of the worst sort.
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Capt Seid Waddell
SSgt John S., I don't believe there is any other way to cut spending; dealing with these congressmen and this administration is like dealing with a sex maniac in a whorehouse with a credit card in our name.
There is no limit they will respect absent force.
There is no limit they will respect absent force.
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Capt Seid Waddell
SSgt John S., yes we do disagree. Planned Parenthood is just one of many things that the government has no business wasting resources on - especially when we have to borrow the money to give it away. The left takes a hard stance because they are ideological extremists, unwilling to bend on any issue. There is no compromise with the left short of total capitulation to them.
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Capt Seid Waddell
SSgt John S., the Federal government takes in $3.5 trillion/year; there is no valid reason to ever default on debt payments if the debt ceiling is not raised. What would happen is that the government would have to prioritize its spending and cut out the lower priority items when the money ran out.
Same as you do with your personal finances, but with more zeroes.
http://www.usgovernmentrevenue.com/total
Same as you do with your personal finances, but with more zeroes.
http://www.usgovernmentrevenue.com/total
US Government Revenue in $ trillion for Federal, State, and Local for 2016 - Charts
Table of US Government Revenue in $ trillion for Federal, State, and Local. From US Government sources.
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$100M or so to Syrian refugees, $45M for a gas station that doesn't work, plus whatever other monies we don't know about that we are sending out but never getting anything back in return. While I am not the best when it comes to economics and finance, but wouldn't common sense dictate that if you owe money to others (and don't have that money to pay back) then why send out other money to other people in other countries that won't pay it back? It's like saying "I have 5 apples, but I owe 10 apples to bob. I am going to give 20 Apples to Alice."
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SSgt Alex Robinson
I'm sure a lot of it has to do with the $150 billion CONgress just stole from Social Security.
I'm sure a lot of it has to do with the $150 billion CONgress just stole from Social Security.
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If your house fills with shit do you A) Raise the ceiling or B) Clean out the shit? While raising the debt limit is now a necessary evil to keep our country from going third world, we never should have reached this point to begin with.
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