Skip to comments.Republicans Have Yet to Point Out the Absurdity of Avoiding Default by Raising the Debt Limit
Posted on 10/14/2013 1:42:50 PM PDT by con-surf-ative
In the debt limit/government shutdown debacle, the Republicans have yet to make the somewhat obvious argument that when trying to avoid a default, it is contra-intuitive to make the debt even bigger. It is like paying the minimum payment on one credit card off with another credit card with a higher credit limit. Since when does going deeper into debt avoid a default? To me that logic is compelling. It may be that our mass population is incapable of understanding such a basic concept, or it may be just a built in assumption that the feds have to borrow more money because they have no hope of living within their cash flow.
I can tell you what happens when we hit the legal Debt Limit! It is called INSTANT BALANCED BUDGET. No default, just an instant, relatively painless, balanced budget! It will be a BLESSING.
Since when does going deeper into debt avoid a default? To me that logic is compelling.
They don’t call the GOP the Stupid Party for nothing. It has in fact been dealt a strong hand but has no idea how to play it.
They need to reduce it to 9 simple words:
The problem is the debt — not the debt limit.
Maybe they’re trying to point it out:
There are no payments due on October 17 to pay our creditors, there are no payments due until November 15, thats why Moodys has indicated there will be no major impact here, Huelskamp said.
That is not what the Secretary of the Treasury says, Schieffer said.
He said a lot of things a week ago, Huelskamp said. I think the White House is trying to scare the markets. I think thats unfortunate.
Instead of negotiating an agreement to raise the debt limit, they should be negotiating a budget that avoids raising the debt limit. Because anything else, they are negotiating a bipartisan agreement to our economic collapse.
If the Repubs won’t stand firm against raising the debt limit, what is their excuse for continuing to exist?
“Republicans Have Yet to Point Out the Absurdity of Avoiding Default by Raising the Debt Limit”
I’ve been thinking about this for quite awhile. This Ponzi Scheme can only last for so long.
I'm going to start repeating this every chance I get. The problem is the debt not the debt limit.
Do we have NEW payments coming do? Won’t we have the same amount of debt and income on the 17th as we will on the 16th?
DEFEND 10 million EBT leeches who can't meet strict means-testing
DEFUND Monsanto and ADM's corn and soy subsidies
DEFUND unneeded defense projects and weapons programs
DEFUND South Korea and bring at least 50% of our 28,500 troops home
DEFUND the EPA by firing at least 50% of its 95% of employees deemed "non-essential" for the partial shutdown
DEFUND illegal aliens by eliminating their $4.2 billion EITC "additional credit"
DEFUND illegal aliens who cost America a staggering $113 billion EVERY YEAR by deporting an additional 1 million per year and ending birthright citizenship for their children
We only owe $396 billion in debt service payments this year. My cuts above alone would save $312 billion. I'm sure wotyh a little imagination, we could collect the rest. GET ON IT!
No need, everyone besides his Koolaid drinkers knows it, and regards this as absurd:
Obama: Not Allowing Govt to Borrow More “Would Amount to a New Tax”
Cybercast News Service | October 14, 2013 - 7:45 AM | Susan Jones
Posted on 10/14/2013 12:48:15 PM PDT by Olog-hai