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Quietly reaching debt ceiling again......

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[quote name='thefuzz' timestamp='1352407079' post='1988068']



Bond holders....you mean people who loan the government money expecting it to be paid back?


Running any type of debt is foolish if you can avoid it, family, business, government.

It's not taking money out of the economy if it's not taken. Lower the tax rates.
[/quote]

You are the devil for that last statement. To a liberal, it is like cutting off your fingers

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[quote name='Proudiddy' timestamp='1352395564' post='1987742']
How would this affect the average citizen? How would debt be affected (credit, student loans, etc.)... This may be a question best for Jase or pstall...
[/quote]


As we continue to borrow money our credit rating will continue to be dropped as we are more and more likely to not be able to pay it back.

As the rating is dropped, money becomes more expensive to borrow, meaning we are paying more interest on our loans.

When we pay more interest on our loans we either have to cut programs, or raise taxes to cover the difference, all the while not tackling the original principle.

Honestly, I am nervous about it.

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[quote name='stirs' timestamp='1352407358' post='1988076']
You are the devil for that last statement. To a liberal, it is like cutting off your fingers
[/quote]

[url="http://www.angrybearblog.com/2007/12/republican-party-and-national-debt.html"]http://www.angrybearblog.com/2007/12/republican-party-and-national-debt.html[/url]

Those darn facts...

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Here's a nice little article about how Clinton's budget surplus helped cause the recession:

[url="http://www.businessinsider.com/how-bill-clintons-balanced-budget-destroyed-the-economy-2012-9"]http://www.businessinsider.com/how-bill-clintons-balanced-budget-destroyed-the-economy-2012-9[/url]

Yep. That'll blow some minds.

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Clinton's surplus. LOLOL. How was Clinton doing before the elections of 1994? His own party was talking about replacing him.

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HAHAHAHHA FACTS YOU ARE SO FUNNY

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You smoke a LOT of dope, don't you?

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No. I just understand economics.

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[quote name='Delhommey' timestamp='1352412155' post='1988187']
No. I just understand economics.
[/quote]

I can tell. But I'm talking about your inability to get along with others. You should get a dog.

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Thank you for your backhanded concession of victory.

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You're welcome. Now go get that dog.

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Doesn't take long to ruin an economy. California is only 12 short years removed from Pete Wilson. Under Wilson's policies Ca flourished to the point they didn't know what to do with all the money and taxpayers were issued refunds.
Enter Davis, only the 2nd governor ever recalled in US history. His policies left CA billions in debt. The Schhwartz tried but could get nothing done under Dem controlled houses. Sound familiar? Now Moon Child actually got elected again, decades later.
Plenty more taxes added to CA taxpayers burden Tuesday just trying to keep schools going. Hang tight, it's coming to a state near you. We'll all get the Fed increase.

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