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No, you would still need to raise it.

No we don't.

The elites would see that as a mandate to let them get into more debt.

Instead fight for cutting the bloated government so the debt ceiling does NOT have to be raised.

>>>Instead fight for cutting the bloated government so the debt ceiling does NOT have to be raised.

As I pointed out, you have got to get to a balanced budget in order to avoid raising the debt ceiling. We are facing a $1.3T deficit this year, so you need to find $1.3T in cuts to avoid raising the debt ceiling. In posts #27 and #30 I laid out cuts that would get us there:

Discretionary spending in FY 2010 was $1.39T, or 38% of total spending. More than half ($844B) was security spending, which includes the Department of Defense, overseas contingency programs and Homeland Security.

So if you close down all the discretionary gov agencies (USDA, Energy, Commerce, Education, etc) immediately you find about $500B in savings. There is $135B in stimulus spending for FY11 that could be cut. We can find an additional $619B in savings from non-discretionary programs if we immediately cut these programs: Food Stamps, Unemployment Compensation, Child Nutrition and Tax Credits, Supplemental Security for the Disabled and Student Loans.

To avoid raising the debt ceiling, this will have to be accomplished by some time in Febraury. Good luck.

The elites would see that as a mandate to let them get into more debt.

Exactly so.

It is now, has always been and always will be an expenditure, not a revenue problem.

True story.

Before his death Michael Jackson had an annual income of $25 Million from royalties on his record copyrights. (He owned the Beatles Archive among other things)

Somehow, he still managed to pile up an outstanding debt of some $50 Million to the point his creditors had begun to sue for their outstanding balance.

Last I heard his his estate had just about paid down his debt because he was NO LONGER ALIVE TO CONTINUE HIS PROFLIGATE LIFESTYLE.

Expenditure, not income is the important point.

Best regards,