A hypothetical question about the Debt Ceiling Outcome

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collegestudent22
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Re: A hypothetical question about the Debt Ceiling Outcome

Post by collegestudent22 » Thu Aug 04, 2011 1:11 am

spikegirl7 wrote:The same government that is losing hundreds of millions of dollars in tax income because they can't agree on 16 million in spending cuts to the FAA.
Interestingly, this is a prime example of why the government does not need to be as big as it is. Never mind the fact that we could easily privatize the FAA, just as Canada did, to save money and effort. Forget all that. Even if we accept the need for government to run air traffic control, the fact that it can do it with a partial shutdown should tell you something. There have been no big crashes, no collapse of the airway system. If anything, more people are flying than normal, as the tickets don't have as much added tax, thus reducing the price. The need for government to spend as much as it does on the FAA, or anything else for that matter, is overblown and ridiculous, even accepting the argument that it should be doing all these things - which I do not.
Frédéric Bastiat wrote:And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works.
Count Axel Oxenstierna wrote:Dost thou not know, my son, with how little wisdom the world is governed?

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Re: A hypothetical question about the Debt Ceiling Outcome

Post by Deacon » Wed Jan 16, 2013 4:48 pm

Time for this discussion again?
The follies which a man regrets the most in his life are those which he didn't commit when he had the opportunity. - Helen Rowland, A Guide to Men, 1922

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Re: A hypothetical question about the Debt Ceiling Outcome

Post by ampersand » Wed Jan 16, 2013 8:21 pm

Obama is playing like the poker guy who has bet everything including the shirt off his back and not even looking at the cards he's got. The politics of the Tea Party seems to be to simply say no to everything in the theory that no increase in the Debt limit forces government to cut everything, which is what they want, without any further raise in taxes. The rest of the Republican party seems to be just as ineffective as before. As I said before in other threads, if this were any other non-first world country a military coup would have already happen. Both sides will bluff until right as they over over the Debt Cliff and then maybe a deal is done.

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Re: A hypothetical question about the Debt Ceiling Outcome

Post by The Cid » Thu Jan 17, 2013 3:32 pm

Kind of off-topic, but is _____-Cliff going to just be a regular phrase in the news now?

If a politician gets caught in a scandal involving their vote on the debt ceiling, are they going to call it Debt Cliff-Gate?
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Re: A hypothetical question about the Debt Ceiling Outcome

Post by Deacon » Mon Jan 21, 2013 6:43 pm

Obama, in his resignation speech, wrote:The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government can not pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that "the buck stops here." Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
As much as I thought he was a megalomaniac who believed his own messianic press, I was surprised he stepped up to take responsibility. Then I realized he said this in March of 2006, and in fact is saying literally the opposite now.

Ron Paul has some thoughts on this.

"Fiat currency is not wealth, and the creation of more fiat dollars does not mean that more rice, steel, soybeans, Ipads, or Honda Accords suddenly come into existence. The creation of new fiat currency simply strengthens a fantasy balance sheet, either by adding to cash reserves or servicing debt. But this balance sheet wealth is an illusion, just as the notion we can continue to raise the debt limit and borrow money forever is an illusion."
The follies which a man regrets the most in his life are those which he didn't commit when he had the opportunity. - Helen Rowland, A Guide to Men, 1922

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