Should the debt ceiling be eliminated?

[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?

[BigRedChief]

Originally Posted by Ugly Duck

Hilarious! Repubs in complete disarray.....

Sen. Mitch McConnell filibusters own bill on debt ceiling when Democrats agree to vote

WASHINGTON — In the span of hours, Senate Minority Leader Mitch McConnell on Thursday challenged Democrats to an immediate vote giving President Barack Obama unilateral power to increase the nation’s borrowing limit, then reversed course and blocked his own bill when Democrats agreed.

Sen. Claire McCaskill, D-Mo., who was presiding over the Senate, grinned and said she had “whiplash,” an obvious reference to McConnell’s sudden course reversal.

After witnessing the exchange, Senate Majority Whip Dick Durbin, D-Ill., told his colleagues, “I think we have now reached a new spot in the history of the Senate we have never seen before.”

“I am going to ask the parliamentarian to look into this,” Durbin said. “I do not think this has ever happened before.”

Reid issued a statement on Friday saying he would continue to press for a vote on the debt ceiling.

“After leading 385 filibusters in recent years, Senator McConnell took obstruction to new heights by filibustering his own bill,” Reid said. “Republicans’ obstruction and intransigence turned the last debt ceiling fight into a disaster for the middle class. We should give American families the security of knowing we will never go through such a harmful ordeal again.”

I can't believe he tried to score cheap political points and they called him on it and he has to fillibuster his own bill? WTF?

[mnchiefsguy]

I voted no, for the simple reason that it should reasonably difficult for Congress and the President to spend money.

[mlyonsd]

Originally Posted by mnchiefsguy

I voted no, for the simple reason that it should reasonably difficult for Congress and the President to spend money.

I don't think it should necessarily be hard for them to spend it. They should at the very least be accountable if they want to borrow it.

I laugh at anyone voting yes.

[patteeu]

Originally Posted by mlyonsd

I don't think it should necessarily be hard for them to spend it. They should at the very least be accountable if they want to borrow it.

I laugh at anyone voting yes.

Yeah, the last thing we should be doing is making it easier for our politicians to sweep our over-spending problems under the rug.

[mlyonsd]

Originally Posted by patteeu

Yeah, the last thing we should be doing is making it easier for our politicians to sweep our over-spending problems under the rug.

Imagine the mess we'd be in if Obama and the dems didn't have to worry about facing the public in 2009 if there wasn't a debt limit.

[WoodDraw]

Originally Posted by patteeu

Why would the government have to default? Why couldn't they just stop sending out SS checks instead? Or stop buying bullets and tanks for DoD?

Well yes I guess that is what would happen. Although you can only do that for so long. I don't see how this is anyway to run a government.

If you want the debate, have it. But this is already money that has been spent. If congress wants to fix that they can, but it shouldn't be at the risk of not paying your obligations. That's the domain of banana republics.

[patteeu]

Originally Posted by WoodDraw

Well yes I guess that is what would happen. Although you can only do that for so long. I don't see how this is anyway to run a government.

If you want the debate, have it. But this is already money that has been spent. If congress wants to fix that they can, but it shouldn't be at the risk of not paying your obligations. That's the domain of banana republics.

We should certainly pay our debt obligations and we'd better be careful or we're going to get ourselves into a position where that becomes impossible.

We've probably already passed the point where we will no longer be able to pay our obligations to future entitlement recipients.

[WoodDraw]

Originally Posted by patteeu

We should certainly pay our debt obligations and we'd better be careful or we're going to get ourselves into a position where that becomes impossible.

We've probably already passed the point where we will no longer be able to pay our obligations to future entitlement recipients.

You're combining a bunch of different issues in to one. I agree there needs to be entitlement reform and tax reform. The idea that this is something unusual annoys me. Isn't this the role of government? Not like we make policy once and forget about it. Every government around the world deals with this.

Threatening the us with a default every few months over some archaic law seems a silly, and self defeating, way to deal with it.

[patteeu]

Originally Posted by WoodDraw

You're combining a bunch of different issues in to one. I agree there needs to be entitlement reform and tax reform. The idea that this is something unusual annoys me. Isn't this the role of government? Not like we make policy once and forget about it. Every government around the world deals with this.

Threatening the us with a default every few months over some archaic law seems a silly, and self defeating, way to deal with it.

I don't think we'd have to go through this if we had a more responsible person in the White House, but the people elected this guy instead.

If it was natural for governments (here and around the world) to govern in a fiscally responsible way, we wouldn't be in this mess.

[Dave]

Why would ANYONE want to give the POTUS this much power?

[WoodDraw]

Originally Posted by patteeu

I don't think we'd have to go through this if we had a more responsible person in the White House, but the people elected this guy instead.

If it was natural for governments (here and around the world) to govern in a fiscally responsible way, we wouldn't be in this mess.

How many debt limit increases passed under others presidents? My first google search says 18 under Reagan, and 7 under Bush jr.

[J Diddy]

Originally Posted by patteeu

I don't think we'd have to go through this if we had a more responsible person in the White House, but the people elected this guy instead.

If it was natural for governments (here and around the world) to govern in a fiscally responsible way, we wouldn't be in this mess.

Your first sentence brought forth a single tear drop in my beer. You've been crying for 4 years and now you get to cry for 4+ more. I'm sorry.

[patteeu]

Originally Posted by WoodDraw

How many debt limit increases passed under others presidents? My first google search says 18 under Reagan, and 7 under Bush jr.

That seems to support my argument.

[patteeu]

Originally Posted by J Diddy

Your first sentence brought forth a single tear drop in my beer. You've been crying for 4 years and now you get to cry for 4+ more. I'm sorry.

Ok