Economics Should the debt ceiling be eliminated?

**mlyonsd** · 12-06-2012, 05:13 PM

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

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

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

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

Successful businesses and successful households have a debt limit.

And a federal government is exactly the same thing.

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

FD · 12-06-2012, 06:04 PM

Quote:

Originally Posted by theelusiveeightrop

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

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

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

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

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?

View Poll Results: Should the debt ceiling be eliminated?
Yes, the president should be able to borrow what he thinks is necessary	10	24.39%
No, Congress should have a say in what we borrow	29	70.73%
gaz says he doesn't know or care	2	4.88%
Voters: 41. You may not vote on this poll

12-06-2012, 05:13 PM
mlyonsd Supporter Join Date: Aug 2000 Location: Spink, SD Casino cash: $28932	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?
Posts: 22,244

12-06-2012, 05:24 PM	#4
Direckshun Black for Palestine Join Date: Oct 2006 Location: Springpatch Casino cash: $1166358	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. __________________
Posts: 37,466

12-06-2012, 05:51 PM	#5
BigRedChief Brainwashed Join Date: Dec 2003 Location: Swims with fishes Casino cash: $2264722	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. __________________ "Any fool can criticize, condemn and complain - and most fools do." Benjamin Franklin
Posts: 37,871

12-06-2012, 05:58 PM	#7
theelusiveeightrop 2thdoc Join Date: Oct 2012 Location: Dante's Ninth Circle Casino cash: $22191	Successful businesses and successful households have a debt limit. __________________ "We're both part of the same hypocrisy, senator, but never think it applies to my family."
Posts: 4,479

12-06-2012, 06:23 PM	#15
Taco John 12on Paul Join Date: Jun 2001 Casino cash: $10084457	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? __________________ Ehyeh asher ehyeh.
Posts: 49,357

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