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Debt Ceiling reached
Original post made
by Alfred E Newman, Atherton,
on May 16, 2011
from the WSJ: Web Link
"The U.S. government is expected to hit the $14.294 trillion debt ceiling Monday, setting in motion an uncertain, 11-week political scramble to avoid a default. "
It is so sad to see the GOP playing these games just to pretend to satisfy the tea-baggers in their party. After all, almost the entire republican House already voted for a budget (the Ryan/GOP budget bill) that requires adding trillions to our debt. It possibly might balance the budget in 2031, and if they continue to back away from their privatizing Medicare vote, will never balance the budget.
So if they already voted on their own budget bill that adds debt and requires raising the debt ceiling multiple times, how do they expect voters to believe them when they say they can't raise the ceiling?
Before the fringies jump on here and talk about Senator Obama's symbolic protest in 2006, please look up how many times Boenher, Cantor and the GOPpers have voted to raise the ceiling in the past (here's a helpful hint: it's a lot!!)
The Chamber of Commerce (as much a pro-business and conservative a group as any,) has already warned of the deleterious effect of not doing the responsible act and saving our economy, our credit rating and our standing among nations. Web Link
What is the GOP doing, other than posturing?
I thought they told us in November that their mandate was simple: JOBS!
How do Americans feel about this shameful GOP ploy? Web Link
"22. Which of the following best describes the implications you believe will occur if Congress does NOT vote to
raise the debt limit: (ROTATE CHOICES)
It will be disastrous to the U.S. economy, OR
It will not have a serious impact on the U.S. economy
Disastrous .................................... 56%
Not a serious impact ............................ 32%"
Posted by Alfred E Newman
a resident of Atherton
on May 16, 2011 at 1:20 pm
Walter: can't help you with your family problems, but it does bring up a good question: why do conservatives (whom I otherwise assume are reasonably intellectually capable) always bring up the false meme of comparing a family with a government?
Perhaps you haven't noticed, but they're not the same. One can declare wars, borrow and pay back as GDP increases and money is more plentiful; one can create revenue for the long term by policies that employ Americans, increase their value to the country through education, etc.. One get out of bad times by spending wisely in investments that build the country for greater prosperity.
Let's look at your odd analogy that a government is a family:
Ol' daddy dubya, presented with a balanced budget (surplus, actually) decides to voluntarily cut his income (tax cuts,) while increasing his spending on silly crusades, cutting his kids education, ignoring his home's maintenance and give away tons of money he decided not to make and doesn't have, to his rich uncle (the top 2%) who has already been doing phenomenally well for the past couple decades.
So the rich uncle, having been given tons more money by daddy dubya, has NO SHARED SACRIFICE, while dubya's kids suffer and the house infrastructure continues to fall apart.
Or maybe we can look at the cheating spouse analogy:
When the GOP talk about balancing the budget - they are like a cheating husband telling his wife and kids they have to live on less because he's spending it on his GF. (I stole that one, but it kind of rings true)
Maybe the typical Palo Alto family should cut their military spending in half for a couple years: (hope the formatting works!) Web Link
Rank↓ Country↓ Military expenditure, 2010 % of GDP, 2009↓
0 a 0 0
1 typical Palo Alto family 687,105,000,000 4.7%
2 People's Republic of China People's Republic of China 114,300,000,000 2.2%
3 United Kingdom United Kingdom 61,285,000,000 2.5%
4 France France 57,424,000,000 2.7%
5 Russia Russia 52,586,000,000 4.3%
6 Japan Japan 51,420,000,000 1.0%
7 Germany Germany 46,848,000,000 1.4%
8 Saudi Arabia Saudi Arabia 42,917,000,000 11.2%
9 Italy Italy 38,198,000,000 1.8%
10 India India 34,816,000,000 2.8%
I think we've long since caught up with the Jones in arms spending (more than next 15 "families" combined!)
Yeah, Walter, let me know how that false family analogy is working out in Palo alto.