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Quietly reaching debt ceiling again......


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#21 thatlookseasy

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Posted 08 November 2012 - 03:09 PM

The Government should always run at a deficit. Granted the debt ratio is too high right now, but the Government should always run at a deficit.


What? I'm not following- big picture I would say the government should run a deficit during recession but that only works if you pay it back during the better years

#22 pstall

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Posted 08 November 2012 - 03:16 PM

He who prints money never has to pay it back.

Book of Pstall. Ch 3 v 10

#23 Delhommey

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Posted 08 November 2012 - 03:23 PM

What? I'm not following- big picture I would say the government should run a deficit during recession but that only works if you pay it back during the better years


If the government is running at a surplus that means they are actually taking capital out of circulation, which is not really a good thing.

You could run a surplus to pay down our debt, but as about 80% of our debt is held by Americans, paying down the debt is basically redistributing wealth from taxpayers to bond holders anyway.

#24 thefuzz

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Posted 08 November 2012 - 03:37 PM

If the government is running at a surplus that means they are actually taking capital out of circulation, which is not really a good thing.

You could run a surplus to pay down our debt, but as about 80% of our debt is held by Americans, paying down the debt is basically redistributing wealth from taxpayers to bond holders anyway.



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.

#25 stirs

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Posted 08 November 2012 - 03:42 PM

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.


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

#26 thefuzz

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Posted 08 November 2012 - 03:43 PM

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...



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.

#27 Delhommey

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Posted 08 November 2012 - 03:45 PM

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


http://www.angrybear...ional-debt.html

Those darn facts...

#28 Delhommey

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Posted 08 November 2012 - 03:52 PM

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

http://www.businessi...-economy-2012-9

Yep. That'll blow some minds.

#29 FurdTurgason

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Posted 08 November 2012 - 04:00 PM

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

#30 Delhommey

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Posted 08 November 2012 - 04:01 PM

HAHAHAHHA FACTS YOU ARE SO FUNNY


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