RE: A plan that froze the budget at 2011 levels would be scored by the CBO as a $9.5 trillion CUT over 10 years.
I’ve been arguing this for the longest time... JUST LET THE AUGUST 2 DEADLINE PASS AND DON’T PASS ANY NEW DEBT CEILING.
That’ll FREEZE everything.
We will then have enough revenue to fund our debt interest payments, the three major entitlements, defense and the veterans.
As for the rest of the government programs, no debt ceiling increase means Obama has NO CHOICE but to CUT departments left and right or trim them down significantly.
JDO (Just Do Nothing).
That’ll FREEZE everything.
The DC Elites on both sides will not like that. (Who Cares)
I don’t thinks so. I think the spending increases are on auto pilot.
That’ll FREEZE everything.
That will force an immediate 40% real cut as I understand it since the 2011 budget is that far out of balance.
You are incorrect. If the ceiling is not raised, present spending is immediately cut 1.4 trillion.
That’s not a freeze. That’s 1.4 trillion less than FY2011 spending.
In fact, it’s much more than that because GDP would immediately get smacked by the 1.4 Trillion reduction, firings would explode, and tax revenue would collapse from the loss of employment.
So the cut would be MORE than 1.4 trillion because of that loss of revenue and literally, people would die.
This is not to suggest that no cuts should occur. This is to point out that there is no solution and the end of our society is near.
JDO (Just Do Nothing).
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Amen !
...put the ball in their court. Obama has increased spending by 40% in 2 years. let HIM cut it back!
the goverment has DOUBLED since 2001 (Mark Levin said).
in spite of low inflation rates.
there is NO excuse for saddling our children with crushing debt, before they even start working. ($46,000+)
“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.” - Thomas Jefferson
That’s wrong. If we default on our loans, it’ll cost us MORE than if paid them. Just like if you don’t pay your credit cards...that doesn’t mean you don’t still owe it, and that it won’t cost you MORE down the line. There would be late fees, they’d raise your interest rate a lot immediately, and ultimately, you’d be sued for the $$$. That’s because legally you owe it, it’s money that belongs to someone else, and they will get it back, with interest and fees, in the end.
That’s what would happen. And ALSO, we wouldn’t be able to borrow more money at reasonable interest rates. I know you say we don’t need it. But what if we did? Another BP spill? Another Katrina or Rita? A nuclear meltdown?
So it feels good up front not to pay our bills when they come due, but in the end, it ends us costing us more. We wouldn’t recover the huge expense of failing to pay our bills, for many years to come.
And of course don’t forget that some of the bills we owe are to veterans and elderly people. They live month to month on their disability or whatever. They would suffer a lot if we failed to pay them. I wouldn’t want to see that. I would hope the govt would not pay something else before it would cause suffering to our heroes, our disabled, and our elderly.