The debt ceiling, who really knows how to fix it?

CSM Michael J. Uhlig — Sun, 01 Nov 2015 19:14:50 -0500

I received this in an email, Probably been around a few times but thought it relevant due to budget concerns we are going through right now.

"I love it when a complicated situation can be explained in such simple terms!

Democrats don't understand THE DEBT CEILING
Republicans don't understand THE DEBT CEILING
Liberals don't understand THE DEBT CEILING
NO ONE understands THE DEBT CEILING

SO, allow me to explain:
Let's say you come home from work and find there has been a sewer backup in your neighborhood. Your home has sewage all the way up to your ceiling.

What do you think you should do?

1. raise the ceiling, or
2. pump out the shit?"

It goes on to encourage voting in the next election. Your thoughts? Relative?

Response by CPT Private RallyPoint Member made Nov 1 at 2015 7:23 PM

CPT Private RallyPoint Member — Sun, 01 Nov 2015 19:23:44 -0500

I hope this does not offend you. Maybe they need it broken down in a really simple form for them to understand it.

Response by MAJ Bryan Zeski made Nov 1 at 2015 7:24 PM

MAJ Bryan Zeski — Sun, 01 Nov 2015 19:24:03 -0500

First, you have to raise the debt ceiling, otherwise you cause other bad things to happen.

Then you reduce the budget. Take a look at ALL discretionary spending and cut it ALL by 25%. Every agency has fat that can be cut. 25% will make that happen. Will it hurt? Yes. Will things get dropped? Yes. Cut all non-emergency foreign aid out entirely, it's a drop in the bucket, but every drop counts.

Don't forget the old adage, "One man's shit is another man's campaign contribution."

Response by MCPO Roger Collins made Nov 1 at 2015 8:23 PM

MCPO Roger Collins — Sun, 01 Nov 2015 20:23:25 -0500

They all understand the debt ceiling and use it as a wedge to get what they want. The National Debt is another issue. They don't really want to do anything because it would have to result in job loss and that means losing elections. Push it off to the next generation.

Response by TSgt David L. made Nov 1 at 2015 8:24 PM

TSgt David L. — Sun, 01 Nov 2015 20:24:48 -0500

Thanks for sharing CSM Michael J. Uhlig.

Response by SSG Gerhard S. made Nov 1 at 2015 8:47 PM

SSG Gerhard S. — Sun, 01 Nov 2015 20:47:42 -0500

The debt ceiling can be fixed with a balanced budget amendment, or through a sound fiscal perspective by ANY House of Representatives. Eliminating the practice of Continuing resolutions and instead requiring the Constitutionally mandated, yearly budget bill by Congress would go a long way toward this issue as well.

Response by Cpl Private RallyPoint Member made Nov 1 at 2015 11:12 PM

Cpl Private RallyPoint Member — Sun, 01 Nov 2015 23:12:28 -0500

http://www.washingtontimes.com/news/2015/nov/1/obama-presidency-to-end-with-20-trillion-national-/

Obama presidency to end with $20 trillion national debt

When President Obama signs into law the new two-year budget deal Monday, his action will bring into sharper focus a part of his legacy that he doesn’t like to talk about: He is the $20 trillion man.

Response by SSgt Alex Robinson made Nov 1 at 2015 11:13 PM

SSgt Alex Robinson — Sun, 01 Nov 2015 23:13:34 -0500

It's a shame we are not able to stop all spending except what is exactly critical necessary to keep our country running

Response by Sgt Kelli Mays made Nov 2 at 2015 12:21 AM

Sgt Kelli Mays — Mon, 02 Nov 2015 00:21:09 -0500

According to Trump he has all of the answers...Cut spending, but in places it should be cut...like all of the MILLIONS of dollars that go into ridiculous studies...and cut back on GIVING raises to congress and to the senate and cut their pay and their benefits and MAKE them ALL pay into Social security....and be stricter and cut back on giving out Social security checks...too many people receiving money they should not be receiving. The social security system needs an overhaul.

Response by SGT David T. made Nov 2 at 2015 8:44 AM

SGT David T. — Mon, 02 Nov 2015 08:44:29 -0500

While I am not in favor of increasing spending, we do need to ensure that we pay for the debt already incurred. However, with that we need to make some serious changes to reduce the hemorrhaging and cut spending. We cannot allow the government to default so we are in a very serious and dangerous financial situation to be in. In a way its like using one credit card to pay another. In the short term your bills get paid but in the long term unless there are cuts the situation will spiral out of control. So yes in the short term we need to raise it but we need to address spending at the same time.

Response by SP5 John Anderson made Nov 5 at 2015 8:40 PM

SP5 John Anderson — Thu, 05 Nov 2015 20:40:31 -0500

Get the Bravo Sierra out of D.C. (ALL OF IT!!!!!) and send in responsible people...........OR............SEND OUT ALL OF THE CLOWNS FROM D.C.!!!!!!!

Response by MSG Brad Sand made Nov 6 at 2015 10:27 AM

MSG Brad Sand — Fri, 06 Nov 2015 10:27:29 -0500

Lesson # 1:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts: $385

Yet, we allow those who represent us to continue to borrow? If this was being done by your own children, would you not grab them and explain reality? Then, how can you allow someone to continue to do this in your name? The worse part about this whole thing, no one is really even discussing doing ANYTHING to fix this and then to pile on top of it, I have not heard anything from Democrats but SPEND MORE?

Response by LTC Stephen F. made Nov 6 at 2015 10:28 AM

LTC Stephen F. — Fri, 06 Nov 2015 10:28:36 -0500

CSM Michael J. Uhlig to use you analogy about a house what frequently happens with federal spending obligations is expansion [rarely contraction of] of the house coupled with acquisition of temporary buildings or more permanent remote structures.
Examples of expanding the building include establishment of new federal departments or agencies, expansion of scope of those agencies which usually includes additions to federal workforce - spaces and faces.
Examples of temporary buildings [most become permanent unless they have a sunset clause] include significant federal programs such as the War of Poverty, No Child Left Behind, Obamacare.
Examples of permanent remote structures include foreign aid and permanent basing of American citizens overseas.
Long-term appetite suppression for expansion needs to be widespread among both the voters and their elected officials and the bureaucrats who implement government action or inaction.

Response by LTC John Shaw made Nov 6 at 2015 11:13 AM

LTC John Shaw — Fri, 06 Nov 2015 11:13:13 -0500

You can't spell funds without FUN.
No one gets elected promising LESS.
Government will grow until an EXTERNAL event causes enough pain to make it stop.
1) Market rates go up enough that the US must cut back, this will happen but it will take another $10-15T of debt to get the carrying cost so high that even the Dems have to acknowledge it.
2) See a very close neighbor go through the pain. Greece is not enough, we need to see Japan, EU or someone else with a larger debt load really bite it hard, maybe more people will 'get it'.
3) Enough of the population votes in a Fiscal conservative (Note: this could be from either party) and the elected leader actually focuses on the issue as a priority.
Option 2 will happen before Option 1 or 3. The US will continue to spend until Option 1 occurs.
We will have low rates and 0-2% growth for the next 20-30 years.

Response by MSG Brian Wiscott made Jan 23 at 2023 11:06 AM

MSG Brian Wiscott — Mon, 23 Jan 2023 11:06:59 -0500

Agreed, and I pose a question, how long would it take to get even on the board if every unnecessary program, overseas support payment, and uncollectible debt from out of country loans was suspended for a period of time???