(10-05-2021, 03:33 PM)jagibelieve Wrote:

(10-05-2021, 06:09 AM)The Real Marty Wrote: They should do away with the idiotic concept of a "debt ceiling."  All that would be accomplished by not extending the debt ceiling is that we would not pay for things we already bought. 

It's as if I decided to cut down on my spending by not paying my credit card bill.  The problem is the deficit spending.  Not paying for the deficit spending doesn't accomplish anything good, and would wreck the economy.

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Because if the government refuses to pay its bills, the economy will be wrecked.  That would actually increase the deficits by massive amounts, by destroying the credit-worthiness of the United States.

If we don't want to pay for stuff, we shouldn't buy stuff.  But when we've already bought it, we'd better pay for it, or we will have some extremely serious problems.

The answer to "paying for stuff that we already bought" should be to cut costs and stop "buying stuff" like votes which is the current democrat plan.  In a very simple way of explaining it (at least to me) is that you can't afford to pay your credit card bill so you get another credit card in order to both pay the bill and "buy more stuff".  It is not sustainable.

The other thing that is very stupid is that democrats think that they can raise more "income" to pay these credit card bills by raising taxes.