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Old 07-29-2011, 02:38 AM  
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Financial experts say that the country's credit score might be reduced even if the debt ceiling is increased by next week's deadline. Some say, nevertheless, that a downgrade isn't the terrible thing many make it out to be.
It Seems like every few hours we are assured that this or that compromise was reached, only to have this "deal" broken shortly after. Realistically, the debt ceiling is not the issue here, it will be lifted. Rather, the future budget cuts as conditions to the agreement, are the real obstacle here. Once the negotiators work out the details, there will be a period of time during which analysts debate their impact, possibly creating increased volatility. I found this here: U.S. credit rating may be downgraded even if debt ceiling not increased
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Old 07-29-2011, 11:02 AM  
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Ban the Debt Limit-ceiling-limit.jpg 

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Old 07-29-2011, 11:46 AM  
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Awesome!! Very accurate comparison....
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Old 07-30-2011, 08:47 AM  
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Maybe all who are burdened with too much credit card debt just need their debt ceilings raised and leave the problem for their heirs. That would make the inheritance tax moot!
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Old 07-30-2011, 01:14 PM  
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just a reminder the government is fairly evenly split in who we voted in. The democrats have given in and allowed significant cuts to medicare and other programs, how much have the republicans given in on taxes? NOT ONE INCH, where is the compromise? The democrats did try, the republicans demand ALL OR NOTHING and it appears we will get nothing and end up in default.


.....maybe we should end funding for the military and defense contractors before any other spending... maybe the republicans will change their tune quickly
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Old 07-30-2011, 05:56 PM  
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I believe if the federal government were to revert operations to a constitutional level many of our financial problems would eventually go away.

The things that need to be done (drastic cuts to constitutional levels) would be quite painful initially (like a fussy child taking bad tasting medicine..), but is exactly what this country needs.
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Old 07-31-2011, 01:14 PM  
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Quote:
Originally Posted by YelloJeep View Post
I believe if the federal government were to revert operations to a constitutional level many of our financial problems would eventually go away.

The things that need to be done (drastic cuts to constitutional levels) would be quite painful initially (like a fussy child taking bad tasting medicine..), but is exactly what this country needs.
according to whose interpretation of the constitution? after all the line "We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America." alone opens the constitution up to all kinds of social programs and it also only states DEFENSE, not offense so really all these offensive wars need to end
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Old 07-31-2011, 01:22 PM  
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Originally Posted by RedJeepXJ View Post
"We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."
I found myself reciting this just to see if I remembered it from it being burned into my memory from 8th grade!
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Old 07-31-2011, 01:42 PM  
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Quote:
Originally Posted by YelloJeep View Post
I believe if the federal government were to revert operations to a constitutional level many of our financial problems would eventually go away.

The things that need to be done (drastic cuts to constitutional levels) would be quite painful initially (like a fussy child taking bad tasting medicine..), but is exactly what this country needs.
There were reasons why various departments and programs were enacted by congress in accordance with their constitutional authority. Blanket elimination of the solutions to numerous problems is not the solution to the current problem.
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Old 08-01-2011, 07:26 AM  
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Government inefficiency and lack of accountability is the core problem, and both parties are guilty. Blanket protection will endure the continuance of the deficit/debt problem, zero based budgeting would be the best approach but unworkable among 535 self serving individuals.
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