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-   -   Economics Should the debt ceiling be eliminated? (http://www.chiefsplanet.com/BB/showthread.php?t=267437)

mlyonsd 12-06-2012 05:13 PM

Should the debt ceiling be eliminated?
 
The Obama administration has suggested eliminating the debt ceiling which would allow the executive branch to borrow how much money they want.

Good idea or not?

FD 12-06-2012 05:16 PM

Quote:

Originally Posted by mlyonsd (Post 9186181)
The Obama administration has suggested eliminating the debt ceiling which would allow the executive branch to borrow how much money they want.

Good idea or not?

Yes.

One correction though, it doesn't allow the executive to borrow "how much money they want", it allows them to borrow exactly the amount of deficit spending already passed by Congress. Congress passed the deficit, requiring them to pass another bill allowing the Treasury to fund that deficit is pointless and antiquated.

No other country has a "debt ceiling" and it serves absolutely no purpose other than destabilizing markets. Eliminate it.

cosmo20002 12-06-2012 05:19 PM

Typical misleading framing of the issue. It is not about borrowing as much as someone wants. It is about paying bills that are due.

Direckshun 12-06-2012 05:24 PM

This is one of the few polls I can actually vote on, because the phrasing of the issue in the poll is well done, and the answer on this issue is so clear.

It should absolutely be eliminated.

BigRedChief 12-06-2012 05:51 PM

BS poll worded to get the response of the R's. The president doesn't get to spend shit without Congressional approval.

It's paying back the money that was spent by Congress. R's control congress, correct? You don;t want to spend more money? The R's control Congress and Congress controls the money.

This debt ceiling debacle of last summer was pathetic. We already spent the money. We are only talking about paying it back. There is no way in hell that Obama will be dragged into another debacle like last year. The country won't stand for it.

BigRedChief 12-06-2012 05:56 PM

Quote:

Originally Posted by FD (Post 9186185)
No other country has a "debt ceiling" and it serves absolutely no purpose other than destabilizing markets. Eliminate it.

It's a totally ****ed up idea. We pay the money that we owe. We don't default on our loans.

R's, you want to quit spending money, your in control of Congress. GIT-R-DONE.

theelusiveeightrop 12-06-2012 05:58 PM

Successful businesses and successful households have a debt limit.

stonedstooge 12-06-2012 06:00 PM

Quote:

Originally Posted by theelusiveeightrop (Post 9186310)
Successful businesses and successful households have a debt limit.

And a ****ing budget which none of these jokers in DC think is important

cosmo20002 12-06-2012 06:04 PM

Quote:

Originally Posted by theelusiveeightrop (Post 9186310)
Successful businesses and successful households have a debt limit.

And a federal government is exactly the same thing. :facepalm:

And, those things really don't have a debt limit anyway.

FD 12-06-2012 06:04 PM

Quote:

Originally Posted by theelusiveeightrop (Post 9186310)
Successful businesses and successful households have a debt limit.

No they dont. What the hell are you talking about?

mlyonsd 12-06-2012 06:14 PM

Quote:

Originally Posted by FD (Post 9186323)
No they dont. What the hell are you talking about?

Sure they do. Go try to borrow 10 million dollars.

ChiefsandO'sfan 12-06-2012 06:15 PM

Quote:

Originally Posted by stonedstooge (Post 9186316)
And a ****ing budget which none of these jokers in DC think is important

Well said

FD 12-06-2012 06:16 PM

Quote:

Originally Posted by mlyonsd (Post 9186345)
Sure they do. Go try to borrow 10 million dollars.

If you actually think thats a valid response then you have no idea what the debt ceiling is or how it works.

cosmo20002 12-06-2012 06:19 PM

Quote:

Originally Posted by mlyonsd (Post 9186345)
Sure they do. Go try to borrow 10 million dollars.

So, that's a law, right?

Taco John 12-06-2012 06:23 PM

Why don't we just move to a monarchy? What's the point of checks-and-balances if people just want to eliminate them because they're inconvenient?


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