Poll: Debt ceiling crisis.

[MrGalactus]

There should be an option 4 that says:

Yeah, we need to cut spending a LOT, but there's also the matter of billionaires and corrupt Senators taking more than they need. The Dems need to stand up for themselves for once and get the greedy to pay their fair share. Then we cut from defense. Defense contractors have the government by the balls. We STILL spend trillions on technologies we developed for fighting the Soviet Union that we needlessly continue to advance. The US military is facing a threat built up of disorganised, low-skill, poorly equipped extremists, hardly a threat comparable to the Soviet Union. The defense budget could be cut by billions and billions and it'd still be too much, but hell, the contractors don't care so long as they get their massive pay checks.

The Dems need to grow some balls, and the GOP need to grow the fuck up.

EDIT: by the way, the debt ceiling will be raised. Politicians are just dancing around the issue and playing politics to throw some blame around. It's basically already been decided. Thing is, now is not the time to piss around.

There is plenty of time for political theater later.

Yeah, what he said ^

 

[Abanic]

The last time the US Gov missed an interest payment, it cost us $83 trillion in misc. penalties.

$83 trillion

These morons have a job to do and should have raised the debt ceiling - making it possible to pay the bills we already owe! - months ago. There is plenty of time for political theater later.

This country only makes $13 trillion a year, I think you need to check your math. And the debt ceiling is so we can BORROW more money, not pay it off. Currently the United States Federal Government (of the people, by the people, for the people) is borrowing $188 million every hour.

For those who question the math:
The Obama budget proposal for this year (you can look it up) puts this country's deficit (shortfall) at $1.65 trillion, divide that by 365 and it gives you about $4.5 billion per day, divided by 24 hours in a day means that we have to borrow $188 million every hour.

 

[Zakarath]

I'm siding with the Dems here. The republicans are asking for way too much (huge cuts to things like social security and medicare) without giving anything in return (refusing to allow higher taxes, even/especially on the rich), and for what should really be a non-issue. The debt ceiling needs to get raised every year or two, and there NEVER has been this much fuss about it. They're playing chicken with the US economy (and quite possibly the global one) because they think...

...actually, I don't know what the hell they're thinking.

 

[KarlMonster]

And the debt ceiling is so we can BORROW more money, not pay it off.

Technically correct sir.
However, you can't make interest payments on debt with negative dollars. Or I.O.U.'s.
[Here "interest payment" represents bond coupons, but lets not go there.]

 

[Chamale]

The Republicans have successfully convinced the American public that taxes are particularly high right now - income taxes actually haven't been this low since before the Great Depression. I've always said that Obama is a terrible negotiator, and the Republicans are now trying to get the deal they want by refusing to raise taxes. Polls show that the vast majority of Americans would prefer a tax raise to Social Security cuts, but neither side is acting that way.

It would be a big improvement if they closed the $107,000 exemption from Social Security. People who earn more than $107,000 pay a lower percentage of their income into Social Security than most people, and this costs the United States billions of dollars every year.

Obama could raise $300 billion by raising taxes as much as Ronald Reagan did, and another $1.2 trillion by closing tax loopholes for the rich. Such a compromise would be a major victory for the Republicans, but it looks like the final deal might be even worse.