US borrowing authority to be exhausted by Oct. 17

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Naa, like I've said before, just let Texas secede and let the rest of the crazy bashtids emigrate.

http://theweek.com/article/index/250699 ... ak-you-out

I do not care who brought up the question, but spending money you do not have has funded an expanded government for forty years.

Reagan had a National debt of One Trillion, and that from Viet Nam.

The next sixteen trillion was nothing but pork, and put on the tab of the full faith and credit of the American People.

Social Security has been looted, and has unfunded liabilities in excess of government income.

In the real world there is so much money, so much debt, and if one does not cover the other, game over.

The question is, will the government be allowed to spend debt, twice the Reagan National debt, over the next two years?

If not, that calls for a 33% reduction in government spending. It was not keeping the Parks open that made us debtors.

The debts need to be paid, starting with Social Security, and the War Babies are a large group, 45 million, just reaching retirement. That is going to cost over a trillion a year for thirty years. Indexed for inflation, it could be more than twice that.

That is on top of Social Security being half of all government spending.

The other half is defense, and we have lost every war since Korea. That also includes spies, NSA, spying on Americans.

The role of Government, to provide for the Health, Education, and Welfare of The People, has not been met.

Our Government runs the country into debt to benefit the few rich, and line their own pockets.

The result will be the end of America, as the International Police State turns on the disloyal citizerns, and the debt reaches over a hundred trillion.

Only by making money worthless could they keep it going.

The time to stop is now, make government spend only the income, and start reducing the debt.

1% own almost everything, and get all of the Corporate Welfare, and Tax Breaks. Farms, Energy, Timber, Mines, the War Machine, are the reason the People are in debt.

The People are the only reason for a government to exist. What we have is not ours.

The majority of the public have been misinformed as to what obamacare even does, largely because of those in the government who want to see it gone. Why do they want to see it gone? Money, plain and simple. The plan comes right out of their funds which means less money for them to waste on pointless crap that the public doesn't even know about. It's sad really.

The fact is, the current administration (all of it, from the house to the senate to congress) isn't doing their job, we have a duty as american citizens to call them out on it, and it's our constitutional right to remove them from office in this kind of situation. A power that should never have to be used, but I for one will. Like I said, they could end it all right now, but they haven't (at last check, I just woke up), and they won't because the people keeping the government shutdown have been using us as leverage against the president's call for talk, in order to push their own agenda. I don't know about the rest of you, but I don't want people in office who will only use the people in such a way.

Another Obama lie

The US is in NO danger of default. We would have to choose to not pay our debt to default, our government brings is more than enough revenue to service the debt. What would have to happen is for government spending to be cut which it needs to be. The debt ceiling shouldn't be raised regardless of the Obamacare or the shutdown. The buck has to stop here, it can only get worse.

I find this statement hard to believe, especially since the U.S. is as broke as an old record player, without the debt limit, the u.s. would have a deadline to pay it's debt and since we can't do that, we'd run into problems with china and probably at least a couple other countries as well who would collect on it by taking our land and disolving our government. This is why it's a big deal to begin with. Intentions of paying a debt mean absolutely nothing in the long run to those who need to collect.
While I do agree that government spending has to be cut, it's a matter of where and what is cut out of the equation. Half the problem (if not a majority of it) is PRISM as well as other programs like it, military action that isn't needed, things that the government is doing that is compromising our money supply, and finally the biggest thing that contributes to this whole problem: Political greed and other such bull. You cut just those out and suddenly you would've had hundreds of billions of dollars that could've gone to revitalizing the economy, by giving people jobs in areas desperately needing them, supplying healthcare to those who can't afford any (what obamacare was actually about), and helping the working class recover from the crap that this administration has put it through.

The statement was from Moody's, one of the companies that determine our country's credit rating. Not increasing the debt limit would force the hand of our federal government to finally come up with a plan to balance the budget. It can't happen 50 years from now, it is only going to get worse from here. The wars and police state would be the first on my chopping block too.

If you truly believe that, then you are mad, bad or stupid.

Default is not limited to the payment of interest on outstanding debt. Default occurs when the government fails to make any payment that it is legally obliged to make. This includes:

1) interest payments to bondholders
2) redemption of bonds on their due date
3) payment of transfers to or on behalf of individuals which are not subject to appropriations, or for which appropriations have already been made, including social security, medicare and Medicaid payments.
4) transfers to other levels of government which are not subject to appropriations or for which appropriations have already been made, including transfers for welfare, education and unemployment programs
5) contract payments including acquisitions of goods or services for which appropriations have already been made.

It is not enough to service the debt. The bonds coming due have to be redeemed, and the bills that have already been approved have to be paid.

Thank you, I think you've expanded on my point very well.

The worst thing is, if nothing is agreed upon by the 17th, then social security will likely cease as well, leaving thousands more people with no income and no way to get any. And the way these politicians are acting like 5 year olds who want to get their way, I see this whole thing ending very badly for all of us (except those politicians because they're rich enough not to care one way or the other).

would a parliamentary system be an improvement?

Almost anything would be an improvement at this point. Not saying we should change the entire structure of the government necessarily, but at the very least, the people running the show (congress as well as other areas of direct leadership if necessary) need to be replaced with people who have america's citizens' best interests at heart. Boehner could end the shutdown right now (if it's been started up again, pardon me, I haven't heard anything today about it) by simply taking a vote, solving a lot of problems for a lot of people (especially here where I live), but instead he's chosen not to and is using it as a way of forcing an agenda into action, one that the president (once again, at last check) said he'd negotiate after the government was started back up again.

I'm ashamed of our government, honestly. The majority of it has acted only in greed and they've resorted to planning, and causing a government shutdown (and possibly causing america to default in the process), making life that much harder on the already struggling working class, all to push their own idea of legislature onto the people. That's not democracy, it's bribery via dictatorship. And because the people are sufforing for it, most simply want it to end, so they'll agree to almost anything (not their fault, it's survival at this point).

there are many things I find shameful about our nation right now.

from xkcd:

^^^
i'll buy THAT for a dollar

There is enough coming in to make all those payments, and keep the Parks open.

The War Machine, the Black Ops, the massive domestic spying, is what has been sending us a trillion in debt a year.

It could have been covered with Clinton tax rates, and we would have reduced the debt, even with optional wars, and massive domestic spying.

News Flash! Government buys votes, and gifts, by spending on programs. For all those people who lost their job having it sent abroad, there are food stamps and unemployment, and no new jobs. Making them dependant directs who they vote for, and the elected can then pass narrow laws that benefit a monied class, an industry, or their favorite, The War Machine, where deals are done in secret.

The government has spent their next eight years income, beyond spending the income they had.

The People got to lose their assets, the value of their property, a future of employment, and the upcoming generation lost the future they should have had. Education leads to debt and unemployment.

We have been put on the Road to Serfdom, and it was done by Congress.

When the Bright Points of Light are the Domestic Spy Network, and the thirty times what the rest of the world spends on the War Machine, Congress is not looking out for the best Health, Education, and Welfare of the People, they are lining their own pockets, everyone in Congress gets rich, and building a Secret Police State for the rest of us.

With a declining crime rate since the seventies, we have had a Government driven growth of Police at all levels, and a Military Police, using the weapons of war, supplied by the national government. Private for profit Prisons are a recent thing, and over full.

So they do have a plan, and I do not like it.

I see the role of government as providing Universal health care, education, maintaining roads, and defending the borders. The current crew has failed at all of those.

Not increasing the Debt Limit, means they can only spend income, and to raise income, they have to raise taxes. As a very small group now has most of the income, their view of government would change if they had to pay for it.

Corporations are holding Profits offshore, to avoid paying taxes, over fifty trillion, which at 33% tax, equals the National Debt. One law, all profits are taxed the year they are made, worldwide, would retire the debt.

Both sides of Congress are lying.

the rest of the world will pass our burnt hulk of a nation right by, without so much as a peep. America is on the road to irrelevance due to the combined weight of our corruption collapsing all of us in upon itself.