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Should the Senate Vote to Raise the Debt Ceiling?

SodaHead Politics 2011/04/13 05:31:55
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According to CNN, Senate Minority Leader Mitch McConnell is withholding his vote on increasing the debt ceiling until Congress is able to make some serious decisions about the budget.

And he's taking tax hikes off the table.

Without providing specifics, McConnell said it would take "something the markets would view as significant, something the American people would view as significant, something foreign countries would view as significant" in order for him to vote to increase how much the United States can borrow.

America is expected to hit its debt ceiling ($14.29 trillion) "some time between Memorial Day and the Fourth of July," McConnell explained.

Read More: http://rss.cnn.com/~r/rss/cnn_allpolitics/~3/LcJgx...

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Top Opinion

  • Boon Doggie 2011/04/14 14:47:30
    No
    Boon Doggie
    +6
    As Harry Truman said, "The buck stops here." Time to stop the spending by not raising the debt ceiling.

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  • Riceman... sjalan 2011/07/15 13:59:09
    RicemanSTM ~POTL~PWCM~JLA~AFCL
    A flat tax would be great because then EVERYONE would be paying taxes. I'm all for that. However....never gonna happen.
  • sjalan Riceman... 2011/07/16 03:15:33
    sjalan
    The flat tax system has been gaining strength over the last 3 years, much faster than most realize.
  • Riceman... sjalan 2011/07/16 03:17:34
    RicemanSTM ~POTL~PWCM~JLA~AFCL
    And that's great...still...never gonna happen.
  • sjalan Riceman... 2011/07/16 03:20:13
    sjalan
    If there is one thing that I have learned the old saying "Never say Never" wil always apply.
  • Riceman... sjalan 2011/07/16 03:34:25
    RicemanSTM ~POTL~PWCM~JLA~AFCL
    Okay...the chances are very very very small. But I like your enthusiasm. I'm an old pragmatic cynical realist....but that's me...I'm a self realized wingnut also...
  • MarinerFH 2011/07/09 17:23:16
  • sjalan MarinerFH 2011/07/13 01:23:30
    sjalan
    $9.3 TRILLION WAS THERE TO START WITH AND OVER $5 TRILLION OF IT BELONGED TO THE BUSH'S I AND II
  • MarinerFH sjalan 2011/07/13 01:46:32
  • sjalan MarinerFH 2011/07/13 08:40:20 (edited)
    sjalan
    You may be tired of it but facts are facts. Can't get around them.

    As for the debt ceiling, the Republicans have even with their own party president in office raised the debt ceiling 13 times in 15 years, so don't cry that President Obama is doing something wrong.

    The Republicans and the Tea Party members are holding hostage the American economy to get a wedge issue into the main stream to try and elect their own party person to president in 2012.

    And I may add, very close to treasonous.
  • MarinerFH sjalan 2011/07/13 18:41:00
  • sjalan sjalan 2011/07/13 22:22:49
    sjalan
    Interesting marinerfh gets in a dig and then blocks. Strange how people don't realize that they look like fools when they choose not to debate a subject.
  • Bob S sjalan 2011/07/13 18:51:36
    Bob S
    +1
    Please check your fiigures. Obama has tripled the 8 years of Bush and it took him less than 3 years.
  • sjalan Bob S 2011/07/13 22:25:23
    sjalan
    I did. Suggest you see the real facts check out the link and the chart. You'll change your toon very quickly since it seems you have followed the party line from the Republicans very well.

    http://en.wikipedia.org/wiki/...
  • Markie MarinerFH 2011/07/14 13:14:46
    Markie
    +1
    Let is go and we can finally cut the damn military. It will be worht it!
  • banjo1234 2011/07/09 15:07:27
    No
    banjo1234
    +1
    Hell no.
  • John Haverty 2011/07/09 07:20:36
    No
    John Haverty
    +2
    If you support Obama and his regime, you support a Statist authoritarian who is an empty suit who speaks in platitudes who is beholden to the oligarchical collectivists, NWO globalists and banking cabals. You are against truth, freedom, liberty and our constitutional republic and the notion that all of our rights are inborn and are given by our creator. Some autocrat in Washington DC does not grant rights - the constitution simply enumerates them for added protection. The constitution also limits the Powers of the Federal Government yet an expansionist authoritarian view is used in modern times contrary to what Madison had intended. If you support Obama you support the biggest threat to our free will in our history, and when the last bastion of freedom in the USA falls, there is nowhere else to go.

    The USA has gone from a liberal who stated "Ask not what your country can do for you, but what you can do for your country" to radical extortionist racketeering mafia-like Unions, pensioners and public employees with conflicts of interest so bad its killing the government and freedom. Even socialists like FDR, George Meany and Frank Zeidler were against public unions. Yes, that's FDR, the leader of the AFL-CIO and the socialist mayor of Milwaukee against public unions.

    You have ...
    If you support Obama and his regime, you support a Statist authoritarian who is an empty suit who speaks in platitudes who is beholden to the oligarchical collectivists, NWO globalists and banking cabals. You are against truth, freedom, liberty and our constitutional republic and the notion that all of our rights are inborn and are given by our creator. Some autocrat in Washington DC does not grant rights - the constitution simply enumerates them for added protection. The constitution also limits the Powers of the Federal Government yet an expansionist authoritarian view is used in modern times contrary to what Madison had intended. If you support Obama you support the biggest threat to our free will in our history, and when the last bastion of freedom in the USA falls, there is nowhere else to go.

    The USA has gone from a liberal who stated "Ask not what your country can do for you, but what you can do for your country" to radical extortionist racketeering mafia-like Unions, pensioners and public employees with conflicts of interest so bad its killing the government and freedom. Even socialists like FDR, George Meany and Frank Zeidler were against public unions. Yes, that's FDR, the leader of the AFL-CIO and the socialist mayor of Milwaukee against public unions.

    You have surrendered liberty for promises which were and are unable to be kept. 65% of the budget is Social Security, Medicare, Medicaid, SCHIP, Unemployment, Welfare, Workfare, and Interest on National Debt. The administration costs of all said expenditures are in the discretionary budget so the 65% is simply payouts. With the cost of servicing debt on the rise and countries bailing on buying US Treasuries, I think even the staunchest, most stupid progressive can't honestly say they can't say they can't see where this is going.
    (more)
  • luke John Ha... 2011/07/13 12:38:53
    luke
    +1
    GREAT ANSWERS GREAT POST >>SIC UM TEA PARTY PEOPLE
  • davidl 2011/07/07 21:21:52
    No
    davidl
    +2
    Raising the debt makes the dollar worth less and increases the cost of imports, like GASOLINE!
  • mike j 2011/07/07 03:49:03
    No
    mike j
    +1
    NO NO NO NO NO Cut unnecessary spending , clean up waste and fraud , that is what i would like to see.
  • Bob S mike j 2011/07/13 18:52:35
    Bob S
    +1
    Get rid of Obama, Michele and all of the many czars.
  • S* 2011/07/06 04:50:14 (edited)
    Yes
    S*
    http://www.nytimes.com/2011/0...

    here is a conservative's take on it.
  • maggied45 2011/07/05 16:14:26
    No
    maggied45
    +1
    I know some people want the debt ceiling raised because they are afraid of what is going to happen if it isn't raised. Logic would set forth that this will happen anyway because we can't just go on raising it indefinitely. Then we will be in even a worse mess.

    There are other answers, although some will no doubt be painful ones. We need to fix unfair tax loopholes for the very rich, and have a fair tax that everyone can live with - including corporations so that they remain manufacturing and hiring in this country.

    This situation is not a surprise, the Bush administration put us in a whole and this administration is shoving us down deeper.
  • jams 2011/07/05 03:34:42
    No
    jams
    Congress must be forced to do their job. And borrowing more money is letting them avoid it again.
  • flaca BN-0 2011/07/04 03:45:48
    Yes
    flaca BN-0
    +3
    If the U.S. starts defaulting on its debt, everybody who owns U.S. stocks and bonds will take a big hit. This will affect the big banks, corporations and even countries -- pushing some toward bankruptcy. That's the kind of slide that can spark a panic. On a more personal note, your 401(k) and/or pension will suffer big losses. It could take a long time to rebuild those funds, delaying retirement -- or making it impossible.
  • luke flaca BN-0 2011/07/13 12:42:11
    luke
    +1
    WE ARE ALL READY BANKRUPT. THIS HAS BEEEN GOING ON FOR YEARS & YEARS BOTH REBS & DEMOS THEY ALL ARE TO BLAME, WE THE PEOPLE ARE REPEAING THE RESULTS..
  • Beccy 2011/07/04 00:56:47
    Yes
    Beccy
    Frankly I am undecided on this one. It's time to raise taxes
  • Bob S Beccy 2011/07/13 18:53:51
    Bob S
    Your as loony as the Canadian dollar (loon)
  • wtw 2011/07/04 00:44:38
    No
    wtw
    +2
    Not unless cuts are agreed to!
  • Mike 2011/07/04 00:39:25 (edited)
    Yes
    Mike
    +1
    Although I'm not in favor of more debt I fear the consequences of not raising the Debt Ceiling considering the fact that we are about to hit it.
  • judge 2011/05/03 03:56:00 (edited)
    No
    judge
    +3
    End the wars, cut spending.

  • Gabhain 2011/04/21 06:22:21
    Yes
    Gabhain
    +5
    Not raising the debt ceiling will end up being a very expensive political stunt. The way to rein in spending is for Congress to stop passing the out of control spending bills. Like it or not, the spending has been approved and defaulting on our debt is not the answer.
  • pattyca... Gabhain 2011/07/10 08:07:52 (edited)
  • Gabhain pattyca... 2011/07/10 15:03:54 (edited)
    Gabhain
    +1
    Well, not making payments on your credit card is NOT the way to get your spending under control. It's the way to ruin your credit score.

    Hard decisions need to be made with deliberation, not when time is running out. Personally, I have one suggestion:
    spending ruin credit score decisions deliberation running personally suggestion
  • pattyca... Gabhain 2011/07/10 15:37:58
    pattycake725
    +2
    Deliberation should have started in earnest long before the debt ceiling deadline became an issue. America will not default on its payments. Congress will be forced to prioritize spending. Interest on our debt, Medicaid, and Social Security would be untouched. That leaves a wealth (pun intended) of discretionary programs than can and should be cut.
  • Gabhain pattyca... 2011/07/10 15:55:45
    Gabhain
    I agree with most of that, but rates are already climbing just because Congress is screwing around. Uncertainty=higher risk=higher interest rates.
  • pattyca... Gabhain 2011/07/10 17:56:40
    pattycake725
    +1
    We seem to agree on a lot. We appear just to disagree on how to get there.
  • Bob S Gabhain 2011/07/13 18:54:48
    Bob S
    +1
    Plesae get it started. We have to stop all of this lunancy.
  • doofiegirl BTO-t- BCRA-F ~... 2011/04/20 09:20:43
    No
    doofiegirl  BTO-t- BCRA-F ~PWCM~
    +4
    We desperately need to cut that credit card up, and throw it away!
  • Gabhain doofieg... 2011/07/10 15:07:26
    Gabhain
    The problem is that the same Congress that authorized the spending is now contemplating not paying the bills. Congress IS the credit card.
  • jgh57 2011/04/18 17:26:11
    No
    jgh57
    +1
    Let's see. It would mean that we could not borrow anymore money from China,. That would be good. We probably couldn't buy any more cheap Chinese junk. That would be good. We would probably have to start manufacturing here again to meet the replace the cheep junk we buy from overseas, China. That would be good. The new manufacturing plants would need employees. That would decrease unemployment. That would be very good. With all of the new jobs the economy would improve. That would be good. We wouldn't be dependent on foreign countries for our needs. That would be good. Hmm. I don't see any downs here.

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