Democrats Join Threat to Hold Up Debt Ceiling Vote Without Spending Cuts

[Abyssinia]

President Obama is starting to feel pressure from his own party to tie spending cuts to a vote to raise the debt limit, even as the administration expresses confidence that Congress will ultimately raise the cap.

The latest moderate Democrat to draw a line in the sand is Sen. Mark Pryor, D-Ark., who told members of a local political group Wednesday that he’ll need to see a commitment to cut spending and overhaul the tax code in order to vote to raise the $14.3 trillion cap. The government is expected to reach that ceiling by mid-May.

Read more: foxnews.com/politics/2011/04/21/democratic-sen-pryor-debt-ceiling-hike-spending-tax-code-fixes/#ixzz1KC2y02Ka

 

[ANNE_2]

The US should NOT raise its’ debt limit at all.

Raising the debt limit is just an excuse not to be serious about spending cuts.
By not raising the limit, spending cuts would be forced.

The US government needs to learn they should not spend beyond their means.

The US is no longer a prosperous nation. We are over $14 TRILLION dollar in debt.

 

[curlycool89]

The US should NOT raise its’ debt limit at all.

Raising the debt limit is just an excuse not to be serious about spending cuts.
By not raising the limit, spending cuts would be forced.

The US government needs to learn they should not spend beyond their means.

The US is no longer a prosperous nation. We are over $14 TRILLION dollar in debt.

There’s no choice at this point. There’s literally no choice. When they say “the government is going to hit the cap in mid-May”, there’s not really anything you could do to stop it at this point (I can’t remember, but I think a budget covering May of this year has already passed, so the numbers are already set).

Not raising the debt limit means that the US will default on it’s debt. Which is bad. It means that interest rates in the future for any bonds issued would be significantly higher. You can see some of the opinions by googling it. CNN has a good article about how impossible it would be to not raise the limit.

 

[Scott_Lafrance]

There’s no choice at this point. There’s literally no choice. When they say “the government is going to hit the cap in mid-May”, there’s not really anything you could do to stop it at this point (I can’t remember, but I think a budget covering May of this year has already passed, so the numbers are already set).

Not raising the debt limit means that the US will default on it’s debt. Which is bad. It means that interest rates in the future for any bonds issued would be significantly higher. You can see some of the opinions by googling it. CNN has a good article about how impossible it would be to not raise the limit.

No, it doesn’t. Not raising the debt ceiling means that the US cannot borrow any more money for spending on stupid, unproducting vote buying programs anymore. They can still arrange the budget to make debt payments. What you are saying is akin to “If Mastercard won’t up my credit limit, I won’t be able to make the payments anymore”. Its non-sense.

 

[curlycool89]

No, it doesn’t. Not raising the debt ceiling means that the US cannot borrow any more money for spending on stupid, unproducting vote buying programs anymore. They can still arrange the budget to make debt payments. What you are saying is akin to “If Mastercard won’t up my credit limit, I won’t be able to make the payments anymore”. Its non-sense.

The problem is that they’ve already promised, through the normal budgeting process, to pay for these things. The debate about spending happens through the budget, not through the debt limit.

Did you even read the CNN article? Without raising the debt limit, the government will need to find some way to get $738 billion. They would have to eliminate all discretionary spending (including defence) and then find another $50 billion, or raise that much in tax revenue (the article says “raise taxes by 2/3rds”). That discretionary spending is money that has already been committed.

Or they could just default on the debt. Which would be the stupidest idea ever. T-bills are about a safe an investment you can make right now, just watch them go right down the toilet if they default. By the way, the ones with the most to loose there are those in the free market: mutual funds, 401K, pension plans.

I don’t think you understand the type of game you’re playing here.

 

[Scott_Lafrance]

The problem is that they’ve already promised, through the normal budgeting process, to pay for these things. The debate about spending happens through the budget, not through the debt limit.

Did you even read the CNN article? Without raising the debt limit, the government will need to find some way to get $738 billion. They would have to eliminate all discretionary spending (including defence) and then find another $50 billion, or raise that much in tax revenue (the article says “raise taxes by 2/3rds”). That discretionary spending is money that has already been committed.

Or they could just default on the debt. Which would be the stupidest idea ever. T-bills are about a safe an investment you can make right now, just watch them go right down the toilet if they default. By the way, the ones with the most to loose there are those in the free market: mutual funds, 401K, pension plans.

I don’t think you understand the type of game you’re playing here.

You know, I promised to take my kids to Disney this year, but when my tax bill came in $10,000 higher than I anticipated from last year, I had to tell them, “Sorry kids, we have to cut back”. Its really that simple.

 

[ANNE_2]

I understand. My profile will tell you my profession.

Even though the budget was just passed through Sept, 2011 (this fiscal year) rather than the Democrats continuing resolution, emergency measures can take place and individual items can voted upon to bring the budget down.

It is best to keep the debt ceiling in place.
This would force the big spenders to cut back.
.
There is no good excuse for government over-spending and waste.

There is always a way for Legislators to undo what they have voted upon - if there is a will to do so.
Even if they had to go to 4 day work weeks for non-essential government workers, or get rid of the pork, it can be done.

Don’t believe what you read and hear from the Liberal/Obama loving secular media. Investigative reporting is rare these days and they only parrot back what they have been told.

 

[DawnInTexas]

-]Wrath/-]

Greed -check

Sloth -check

Pride -check

Lust -check

Envy -check

Gluttony -check

Wrath is coming. Not from us, but to.

Have a Blessed Good Friday.

God Bless you.
+Jesus, I Trust In You!
Love, Dawn

 

[mary_bobo]

President Obama is starting to feel pressure from his own party to tie spending cuts to a vote to raise the debt limit, even as the administration expresses confidence that Congress will ultimately raise the cap.

The latest moderate Democrat to draw a line in the sand is Sen. Mark Pryor, D-Ark., who told members of a local political group Wednesday that he’ll need to see a commitment to cut spending and overhaul the tax code in order to vote to raise the $14.3 trillion cap. The government is expected to reach that ceiling by mid-May.

Read more: foxnews.com/politics/2011/04/21/democratic-sen-pryor-debt-ceiling-hike-spending-tax-code-fixes/#ixzz1KC2y02Ka

Have we heard this from any other sources in our esteemed MSM? Probably not.

 

[curlycool89]

You know, I promised to take my kids to Disney this year, but when my tax bill came in $10,000 higher than I anticipated from last year, I had to tell them, “Sorry kids, we have to cut back”. Its really that simple.

Then the legislature needs to quickly cut over $700 billion, and we all know that that’s not going to happen. That’s what the GAO says the Treasury will need to borrow just to get to the end of September.

I understand. My profile will tell you my profession.

Even though the budget was just passed through Sept, 2011 (this fiscal year) rather than the Democrats continuing resolution, emergency measures can take place and individual items can voted upon to bring the budget down.

It is best to keep the debt ceiling in place.
This would force the big spenders to cut back.
.
There is no good excuse for government over-spending and waste.

There is always a way for Legislators to undo what they have voted upon - if there is a will to do so.
Even if they had to go to 4 day work weeks for non-essential government workers, or get rid of the pork, it can be done.

Don’t believe what you read and hear from the Liberal/Obama loving secular media. Investigative reporting is rare these days and they only parrot back what they have been told.

No, I don’t think you understand. We’re not talking about pocket change here. We’re talking the equivalent of eliminating all discretionary spending, including defence, for the rest of the year and still not having enough. Unless you do that, you will still need to borrow some money.

The Treasury has said they can take some emergency measures to possibly get 8 weeks, but that would be crazy stuff like selling the gold reserve. After that, the US defaults on it’s debts. Markets nearly crashed because Greece almost defaulted on it’s debt. What do you think will happen if a country with the world’s leading reserve currency defaults?

 

[JonNC]

Then the legislature needs to quickly cut over $700 billion, and we all know that that’s not going to happen. That’s what the GAO says the Treasury will need to borrow just to get to the end of September.

No, I don’t think you understand. We’re not talking about pocket change here. We’re talking the equivalent of eliminating all discretionary spending, including defence, for the rest of the year and still not having enough. Unless you do that, you will still need to borrow some money.
The Treasury has said they can take some emergency measures to possibly get 8 weeks, but that would be crazy stuff like selling the gold reserve. After that, the US defaults on it’s debts. Markets nearly crashed because Greece almost defaulted on it’s debt. What do you think will happen if a country with the world’s leading reserve currency defaults?

This alone tells us what a disasterous situation we are in, and it tells us also that our current levels of entitlement spending must change. The notion that social security and Medicare reform is a long-term need, as the President said, is just not true.
We have to borrow money in order to service our borrowed money?
Even Paul Ryan’s budget seems like a band-aide.

Jon

 

[ANNE_2]

Discretionary spending includes:

Giving foreign aid to almost every Country on earth including our biggest debt holder - China.
youtube.com/watch?v=Y_2QH9RhEVs

Obamacare which forces government funded health care upon those who do not want or need it. It is unconstitutional and in the Courts with over half the of States suing the Federal Government.
citizenlink.com/2011/01/19/26-states-sue-over-health-care-law-as-house-repeals-it/

Funding world wide abortions including through the United Nations.
catholicnewsagency.com/news/hillary_clinton_attempts_to_redefine_u.n._agreement_by_adding_abortion_experts_charge/

Down sizing needed -
The Department of Education alone is in 6 Federal Government buildings and 10 regional offices.
All non essential Departments and Programs need to be downsized permanently.
Non essential government workers can work only 4 days a week until the financial crisis is over.

There is so much waste and pork - it is rediculous.

Only the Dems would threaten to harm essential (life and death) programs - to keep their pork, waste, and keep their political buddies/lobbiests happy.

 

[gurneyhalleck1]

Anyone from the Right or Left who knows anything about finance will tell you that not increasing the Debt Ceiling will have the United States defaulting on her loans. The vast majority of Democrat, Republican, and independent economists have agreed that not increasing the debt ceiling at this point, like it or not, will send us into a full-on depression and a global economic crisis will ensue…

Both the GOP and Dems need to put aside their nonsense and bickering and just increase the debt ceiling now…

Paul Ryan’s voucher program for Medicare is UNCONSCIONABLE for seniors. What Medicare doesn’t cover (and with the puney amounts Ryan is proposing it won’t come close often times) our elderly will have to eat-it on. The enormous cuts to Medical he proposes will send many elderly out of long-term care homes and into the basements and living rooms of families ill-equipped and financially unable to care for them.

We don’t see cuts to defense from Ryan and company, just cuts to the social fabric and safety nets. He’d prefer to impact the elderly and the poor and the less fortunate, but God forbid we trim back on purchasing stealth bombers and drones

 

[JonNC]

Discretionary spending includes:

Giving foreign aid to almost every Country on earth including our biggest debt holder - China.
youtube.com/watch?v=Y_2QH9RhEVs

Obamacare which forces government funded health care upon those who do not want or need it. It is unconstitutional and in the Courts with over half the of States suing the Federal Government.
citizenlink.com/2011/01/19/26-states-sue-over-health-care-law-as-house-repeals-it/

Funding world wide abortions including through the United Nations.
catholicnewsagency.com/news/hillary_clinton_attempts_to_redefine_u.n._agreement_by_adding_abortion_experts_charge/

Down sizing needed -
The Department of Education alone is in 6 Federal Government buildings and 10 regional offices.
All non essential Departments and Programs need to be downsized permanently.
Non essential government workers can work only 4 days a week until the financial crisis is over.

There is so much waste and pork - it is rediculous.

Only the Dems would threaten to harm essential (life and death) programs - to keep their pork, waste, and keep their political buddies/lobbiests happy.

On the threat to harm essential services, I suspect that there is no a single Democrat that would say the President Clinton was harming the poor/elderly/downtrodden/ et.al with his 2000 FY budget. So, I suggest we return to those levels of spending.

Jon

 

[Michael_C]

You know, I promised to take my kids to Disney this year, but when my tax bill came in $10,000 higher than I anticipated from last year, I had to tell them, “Sorry kids, we have to cut back”. Its really that simple.

Now if you were in the Federal Government your mind would be programmed to extend the credit limit on your credit cards and you would be incapable of hearing anyone around you advising you to cutback.

Or as in the budget debate you could put forth a plan to spend $50,000 more then you needed and now reduce that number by $40,000 and tell your family you actually are saving money with a trip to Disney.

 

[ANNE_2]

Here’s more -

Obama’s Health and Human Services just gave $6.7 BILLION as BONUSES to Insurance Companies.
news.yahoo.com/s/ap/20110419/ap_on_re_us/us_medicare_reprieve

Department of Energy was set up in 1977 under Pres Carter to make the US energy independent. They have not accomplished their mission and have over 34 years to do it. Time to defund them.
pbs.org/wgbh/americanexperience/features/primary-resources/carter-energy/

National Labor Relations Board - en.wikipedia.org/wiki/National_Labor_Relations_Board

Commerce Dept - en.wikipedia.org/wiki/United_States_Department_of_Commerce

Federal Reserve - who never allows audits of their work, and according to the Board of Governors, the Federal Reserve is independent within government in that “its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government.”

Here;s more - - -
How about - -

Tobacco subsidies ?
ibj.com/tobacco-subsidies-support-smoking/PARAMS/article/25067

mygovcost.org/2010/09/14/29-4-increase-in-pork-in-2011-senate-thud-act/

cagw.org/newsroom/releases/2011/cagw-issues-weekly-spending.html

And why is the government involved in home lending? Freddie Mac & Fannie May
nytimes.com/2010/06/20/business/20foreclose.html?_r=1

Shall I continue ?

 

[ANNE_2]

Anyone from the Right or Left who knows anything about finance will tell you that not increasing the Debt Ceiling will have the United States defaulting on her loans. The vast majority of Democrat, Republican, and independent economists have agreed that not increasing the debt ceiling at this point, like it or not, will send us into a full-on depression and a global economic crisis will ensue…

Both the GOP and Dems need to put aside their nonsense and bickering and just increase the debt ceiling now…

Paul Ryan’s voucher program for Medicare is UNCONSCIONABLE for seniors. What Medicare doesn’t cover (and with the puney amounts Ryan is proposing it won’t come close often times) our elderly will have to eat-it on. The enormous cuts to Medical he proposes will send many elderly out of long-term care homes and into the basements and living rooms of families ill-equipped and financially unable to care for them.

We don’t see cuts to defense from Ryan and company, just cuts to the social fabric and safety nets. He’d prefer to impact the elderly and the poor and the less fortunate, but God forbid we trim back on purchasing stealth bombers and drones

Obama and the Democrats did this on purpose.
It’s time to call their bluff, and take the medicine now for allowing them to be elected in the first place.
Over - spending has to stop sometiime.

For those who are physically capable, families have been taking care of their elderly for centuries - rather than putting them out to pasture. Honor thy Father and thy Mother. We have become selfish and self-centered.

Medicare does not pay for food for the elderly, and never has.
I still have to read the details of Ryan bill because you can’t believe the Dem sound bites (nor the GOP sound bites) nor the pro-Obama secular media.

The US dollar has already been devaluated - article from 2010.
blogs.reuters.com/jim-saft/2010/11/04/enter-the-era-of-dollar-devaluation/

Cutting should not be just at the discretionary level. - - so says the Government Accountability Office. They believe that services would not need to be cut, if waste was cut.
Here is their take -
foxnews.com/politics/2011/03/01/government-waste-numbers-report-identifies-dozens-duplicative-programs/

 

[curlycool89]

ANNE 2, if you add all those up, you’re probably not going to come out to over $700 billion, which is the amount you need in order not to increase the debt limit.