Only 22% of Americans favor increasing debt limit

[carpro]

Threatening Grandma hasn't worked.


http://www.gallup.com/poll/148454/Debt-Ceiling-Increase-Remains-Unpopular-Americans.aspx

U.S. Debt Ceiling Increase Remains Unpopular With Americans

More are concerned about higher level of spending than risk of economic crisis

by Lydia Saad

PRINCETON, NJ -- Despite agreement among leaders of both sides of the political aisle in Washington that raising the U.S. debt ceiling is necessary, more Americans want their member of Congress to vote against such a bill than for it, 42% vs. 22%, while one-third are unsure.

 

[SolaSaint]

Please help me understand how not raising the debt limit will be bad. If we don't raise the limit how does this immediately take money out of coffers that pay social programs and the military. Who takes the money away. Is it the FED? And how can we raise the limit on our own debt, it's like me telling my credit card company that I've decided to raise my limit so I can borrow more. Doesn't the bank decide that instead of me? I'm confused.

 

[mandym]

Please help me understand how not raising the debt limit will be bad. If we don't raise the limit how does this immediately take money out of coffers that pay social programs and the military. Who takes the money away. Is it the FED? And how can we raise the limit on our own debt, it's like me telling my credit card company that I've decided to raise my limit so I can borrow more. Doesn't the bank decide that instead of me? I'm confused.

You seem to be under the impression that there is a bag of money "in the coffers" to cover all this.

Our outgoing is more than our incoming. We have maxed out all of our credit cards and are looking for an increase in credit to cover it all. It is the worst money handling in history.

The Dems like to say we need some program with no plan for paying for it and then act as if it is a shame conservatives will not agree to raise taxes. Quite dishonest.

 

[StefanM]

Please help me understand how not raising the debt limit will be bad. If we don't raise the limit how does this immediately take money out of coffers that pay social programs and the military. Who takes the money away. Is it the FED? And how can we raise the limit on our own debt, it's like me telling my credit card company that I've decided to raise my limit so I can borrow more. Doesn't the bank decide that instead of me? I'm confused.

We are bleeding money. We must borrow in order to meet our obligations currently in place. If we no longer are able to borrow, we will have a significant shortfall.

And the debt limit is self-imposed. Other nations are still willing to lend to the US. To use your analogy, it would be like saying that I have resolved not to borrow more than $5000, even though I would be eligible to borrow more.

 

[carpro]

Print more money.

It hasn't bothered Obama to do so up to now. :wavey:

 

[freeatlast]

Please help me understand how not raising the debt limit will be bad. If we don't raise the limit how does this immediately take money out of coffers that pay social programs and the military. Who takes the money away. Is it the FED? And how can we raise the limit on our own debt, it's like me telling my credit card company that I've decided to raise my limit so I can borrow more. Doesn't the bank decide that instead of me? I'm confused.

There is not an easy answer to your question as our situation is an oxymoron of sort. First raising the debt limit IS bad. It means we will add to the debt instead of cutting spending to pay our bills which cannot be cut enough to pay the bills so we must raise the debt limit and borrow more which will in turn require more debt even though we cannot pay the current amount we have. It is like borrowing against your visa, which has become impossible to pay, to pay your visa bill.
Next raising the debt is necessary even though it is bad. It is necessary because we have already made the debt we cannot pay and are not willing to cut spending, and even if we were we cannot cut it enough to satisfy our payments, so unless we raise the debt which will cause more debt because more interest from more debt we would default if the debt limit was not raised and that can cause any number of problems. So we have to raise the debt limit but we dare not.


You asked about SS. Most people do not understand that even though there is a separate deduction for SS on our checks there is not a separate fund for the money to go into. All the money goes into a general fund and is used as the congress sees fit, but they over spent the general fund.

They do keep separate books as to how much has been taken in for SS, but it is not off limits to general spending. Over the years our irresponsible leaders have voted to use the fund that should have been designated for SS for just about everything else and they have put into the fund (this is all on paper) IOU's in the form of bonds, but since they did not have the money to buy the bond they had to what amounts to write a post dated check that is no good to buy the bonds. So now we have about 2.4 trillion in bonds in SS bought with posted dated checks that makes the bonds worthless in the SS fund, that is the general fund, that is broke so we need to borrow money to pay the interest on the bogus bonds that the general fund will use for other purposes. In other words they put "Bernie" Madoff in prison for his unscrupulous dealing with other peoples money and the US congress has done far worst and every member who has voted for this scam should be behind bars for life.

Now they are trying to cover up what they have done by claiming the SS fund is broke because of people living longer and the baby boomers, even though that is not the real reason, but they cannot totally agree how to go about this cover-up, all the time trying to push back the fall of this nation because of going bankrupt at some later date. So the general fund is broke as we now borrow around 25% of every dollar we now spend, but because we are spending more then we can borrow by law we need to now raise the debt limit so we can borrow more adding more to the debt.

So how can they raise the debt limit on themselves? Because they are involved in one of the biggest scams of the American people that has ever happened and the people are footing the bills and there is no way to fix it. All that can be done is push back the final default a few more months or perhaps a few years at best when we will totally default and we will all lose just about everything we have as the dollar falls off the charts and makes even our personal savings wothless.

 

[billwald]

>You asked about SS. Most people do not understand that even though there is a separate deduction for SS on our checks there is not a separate fund for the money to go into. All the money goes into a general fund and is used as the congress sees fit, but they over spent the general fund.

EXACTLY! There is no separate fund for ANYTHING!

I propose first cutting the pay and benefits to Congress. How about legislation which cuts off pay to Congress whenever the US operates without a budget?

 

[freeatlast]

>You asked about SS. Most people do not understand that even though there is a separate deduction for SS on our checks there is not a separate fund for the money to go into. All the money goes into a general fund and is used as the congress sees fit, but they over spent the general fund.

EXACTLY! There is no separate fund for ANYTHING!

I propose first cutting the pay and benefits to Congress. How about legislation which cuts off pay to Congress whenever the US operates without a budget?

Anytime there is a debt the congress and the president should not be paid or receive any benifits.

 

[billwald]

Most members of congress are millionaires. They would change the tax law so they could write off their volunteer time at $10,000/hour. Something like that.

 

[Arbo]

Only 22% of Americans favor increasing debt limit


According to BO, 80% favor increased taxes.

http://thehill.com/homenews/administration/171743-obama-public-sold-on-tax-increases-in-debt-ceiling-deal

President Obama on Friday kept up the pressure on Republicans to agree to revenue increases in a deal to raise the debt ceiling, claiming 80 percent of the public supports Democrats' demand for tax increases.


Talk about being out-of-touch.

 

[freeatlast]

Only 22% of Americans favor increasing debt limit


According to BO, 80% favor increased taxes.

http://thehill.com/homenews/adminis...ic-sold-on-tax-increases-in-debt-ceiling-deal

President Obama on Friday kept up the pressure on Republicans to agree to revenue increases in a deal to raise the debt ceiling, claiming 80 percent of the public supports Democrats' demand for tax increases.


Talk about being out-of-touch.

The problem is the stats crom from the democrats and just in everyday talks with people I certainly don't find 80% in favor of getting a lower pay check.

 

[SolaSaint]

After a comment like that how can democrats follow this man? He calls raising taxes--raising revenues and threatens 50 million people with not sending out SS benefits. He walks out on serious meetings with Cogress and the Prime Minister of Israel. He looks at the constitution as a road bump. I gotta stop I'm getting sick.

 

[Bob Alkire]

After a comment like that how can democrats follow this man? He calls raising taxes--raising revenues and threatens 50 million people with not sending out SS benefits. He walks out on serious meetings with Cogress and the Prime Minister of Israel. He looks at the constitution as a road bump. I gotta stop I'm getting sick.

He sure will make one sick.