Republicans Want To Do WHAT With The Debt Ceiling?

2015-10-17T09:58:01-04:00

Ok RP,
I get that the debt ceiling is looming over all of us BUT since when is attempting to play with the verbiage a good idea?!? I'm furious that some Republicans are so against compromising with Democrats and the President on ANYTHING that they would rather spend time splitting hair about what the definition of "is" is (This doesn't apply, mind you, to all Republicans but if the jungle boot fits, wear it).
Do our "leaders" understand that this dumbass idea makes us look weaker than anything this administration has done OR that not paying what we own makes it harder to do EVERYTHING ELSE?!?
http://finance.yahoo.com/news/house-gop-hatches-harebrained-debt-220800616.html

House GOP Hatches Harebrained Debt Ceiling Fix

Having exhausted the extraordinary measures that have allowed the government to keep paying its bill despite having reached its debt limit seven months ago, the U.S. Treasury is just weeks away from a major fiscal crisis. If the debt ceiling is not raised by early November, the U.S. government will not have enough money on hand to pay the millions of bills and other obligations that come due every day. It isn’t a plan to raise the debt...

Response by LTC Kevin B. made Oct 17 at 2015 10:05 AM

2015-10-17T10:05:08-04:00

That bill won't fly, and it's a hair-brained idea to think it will. The Senate Democrats will block it, and if it gets past them, the President will veto it. Besides, what that bill says is that investors are the only priority.

Response by COL Private RallyPoint Member made Oct 17 at 2015 10:08 AM

2015-10-17T10:08:19-04:00

While this may not be a viable solution, simply raising the debt ceiling is like giving Motrin for Cancer....you're not treating the root cause of the problem though you may feel good for a while. The federal government needs to get its spending under control (to include issues within the DoD) and start making the hard decisions to get the federal debt ($18+ trillion) or we'll soon not even be able to service the debt.

Response by LTC Stephen F. made Oct 17 at 2015 11:19 AM

2015-10-17T11:19:37-04:00

SSG Michael Hartsfield I am not sure what other stumbling blocks to compromise exist besides the (1) President's opposition to the war funding portion which is separate from the DoD funding in the 2016 NDAA; and (2) the President's and democratic congressional unwavering support for federal funding for Planned Parenthood.
If funding for Planned Parenthood were left to stand on its own it would never get enough votes to pass. The President and the democratic congress people know that.
A recent proposal to spend $1B for syrian refugees should be a non-started.
The basic premise for reducing the debt is to spend less than the government received through tax revenue. Shrinking government obligations is the best way to reduce the debt - back off from the ceiling versus requesting raising it again. Since going after entitlements is generally a non-starter [yet there will be no COLA increase for the primary entitlements social security, VA disability and Military retirees], reducing the size of government by incrementally reducing the size and function of the government to what is inherently governmental functions [constitutional authority is agoo baseline]. This requires wisdom.

Response by SSgt Private RallyPoint Member made Oct 17 at 2015 11:33 AM

2015-10-17T11:33:23-04:00

I would like to point out that you have to at least have two sides to fight over something. Now The dept ceiling is a joke at this point because none is willing to enforce it. They are afraid that it will prevent their interests from getting money. The blame always shifts to who ever can be made in to the bad guy at the time. I for one think that we need to make it so that if we do not have a budget congress will not get paid and those in office at the time can not run for another term. That is the only thing I can think of. Sadly it will not happen. As for Just not paying our bills? that has never worked. Companies and countries will stop doing business with us because we can not be trusted to live up to our end of the deal.

Response by 1SG Private RallyPoint Member made Oct 17 at 2015 12:20 PM

2015-10-17T12:20:48-04:00

I see the banter about terminology, so let's be clear. "Default" means not paying principal and interest on the national debt. Only that. Not doing this is actually un-Constitutional.
The remainder are funds currently obligated by law. Entitlements are cyclical and recurring, so that money including Social Security, Medicare, and Veteran's payments (among others) must be paid unless those laws are changed.
The rest of the budget (discretionary spending) must be passed into law annually. Thus far, there is a continuing resolution through December, so unless Congress either raises the debt ceiling or passes a new budget to replace the CR, someone in the Treasury Department will have to choose which discretionary funds go out and which do not. If all this happens - which is complete jackassery - much blame will be cast about. Knowing this administration, they will attempt to not pay out things that will rile the most people, and say it is Congress' fault. Knowing Congress, they will say that it is the President's fault for not signing legislation they pass. This only partially true, since the only appropriations bill that has passed is the Defense Appropriations Bill, but undoubtedly military paycheck will be one of the pawns on the chessboard.

What Congress should do is use the next two months to pass a short-term debt ceiling increase and pass the 14 major appropriations bills SEPERATELY through normal order, with every penny scrutinized and justified through the committee process. The Democrats will not like this and try and obstruct, but the majority can force the issue in the House, where all budget bills must originate. After the bills are passed, the President can veto some or all if he chooses, but he will own that decision.

Response by PO2 Steven Erickson made Oct 17 at 2015 12:22 PM

2015-10-17T12:22:57-04:00

I'm sick and tired of these mind-numbing, useless tirades over how stupid THIS party is and how moronic THAT party is.

Let's leave the "R" and "D" and "Blue" and "Red" out of this... aren't they ALL THE SAME on the inside?

When WE THE PEOPLE finally realize that EVERY SINGLE PIECE of the Federal Government has gone off the rails, only THEN will we realize that radical change is the only answer. Unfortunately, (IMHO) too many mindless, ignorant so-called "citizens" are dependent on that corrupt government to see what's coming.

Look back at your history to every dominant civilization for the last 4000 years. Look at why they became weak and were finally conquered by "barbarians" (as compared to the "enlightened" culture of the dominant civilization).

Collapse is inevitable UNLESS we (the people) STOP letting these self-serving thieves and charlatans in the Federal government (yes, all parties and all branches) tell us how much THEY want to help us and how much the OTHER party wants to harm us.

Here's a couple of personal questions for EACH of us...

"When does compromise become capitulation? Where is the line between personal conviction and moral ambiguity?"

I would hope that you would answer these questions... then look at Washington, DC. Do you approve of what ANYONE there is doing?

So... can WE come together to hold off the collapse of this 236-year old experiment called the American Republic? Or will America end up as another chapter is the history book of failed civilizations?

Response by CPT Jack Durish made Oct 17 at 2015 12:26 PM

2015-10-17T12:26:07-04:00

The GOP proposal may not be the best plan but it accomplishes one thing that needs to be done: It acknowledges that there must be an end to deficit spending and it would be far better that We the People choose how it ends rather than our creditors. I can see something of the sense in the plan. It appears to categorize creditors rather than lumping them into one. Corporations do much the same in distinguishing between common and preferred stock. Those who want greater returns take greater risks and buy common stock. Those who will take lower potential returns for lower risk buy preferred stock. Thus, those who loan money to the government for guaranteed returns should stand in line behind those who loaned money to the government without even knowing they were doing it (eg, Social Security beneficiaries). That seems fair, doesn't it?

Response by SSgt Private RallyPoint Member made Oct 17 at 2015 12:40 PM

2015-10-17T12:40:14-04:00

Well the President and liberals are demagoguing and does not care what the Republicans do, he just does the Executive Action. Now, as far as that is concerned, DO YOU WANT TO BE PAID. Your guy, the President was out there going to Veto the Budget if Gauntanamo was not closed. The kicker is this,, HE THREATENED NOT TO PAY THE MILITARY if this didn't. Oh, he it was the DEMOCRATS who passed HCR in the middle of the night which screwed over so many people who signed for that MISTAKE. Premiums are out control.

Response by Cpl Private RallyPoint Member made Oct 17 at 2015 1:02 PM

2015-10-17T13:02:33-04:00

The bill is an attempt to "prioritize bondholders and Social Security recipients over everyone else the government owes money to – veterans, contractors, government employees, and more."

Imagine what bond investors would do if the government defaulted on payments. It's a stop gap measure that I personally don't agree with, but I don't like the idea of another debt ceiling increase, either.

But hey, if they raise the debt ceiling again, just like Bush, BO will double the public debt and by the time he leaves office he will have spent more than all presidents combined, ensuring your children's, children's, children are saddled with insurmountable debt. Which do you want?

http://www.wsj.com/articles/debt-ceiling-standoff-hits-bond-market [login to see]

Debt Ceiling Standoff Hits Bond Market

Concerns that the U.S. could run out of money next month rippled through the bond market Friday, marking a return to the debt-market worries of previous debt-ceiling standoffs.

Response by SFC Everett Oliver made Oct 17 at 2015 1:26 PM

2015-10-17T13:26:42-04:00

Stop spending what we don't have, Yes, it's as simple as that.

Response by MSgt Curtis Ellis made Oct 17 at 2015 1:33 PM

2015-10-17T13:33:31-04:00

smdh... again...

Response by LTC Private RallyPoint Member made Oct 17 at 2015 6:32 PM

2015-10-17T18:32:46-04:00

So they didn't get Planned Parenthood, so they to think up some other poison pill to try and force their far-right fantasy.

Response by SSG Gerhard S. made Oct 18 at 2015 8:07 AM

2015-10-18T08:07:34-04:00

This article is totally political in nature. First of all, every time Congress raises the debt ceiling, not only do they "compromise" with the President, they in fact are agreeing with the President. It is important to know that Congress has raised the debt ceiling EVERY TIME, and then "budgeted" by "Continuing Resolution ", instead of by passing an annual budget as required by the Constitution.

When the article suggests the only alternative to raising the ceiling is default, it is simply wrong. The other other option is to cut irresponsible spending... Why is there never a call to Compromise in this direction? I would also add that wildly increasing our deficit spending, and thus our $18 Trillion (and growing) national debt does not inspire confidence in bond holders either. Regards

Response by PO3 Private RallyPoint Member made Oct 19 at 2015 8:02 AM

2015-10-19T08:02:46-04:00

how many times we raised debt ceiling? so did that solve the problem?

So why should we raise the debt ceiling again and think it will work out right??

We must do something big with the debt ceiling, not just feel good option. It is going to be very painful ... so get ready for it.

Response by SFC Dave Wynn made Oct 20 at 2015 10:46 AM

2015-10-20T10:46:05-04:00

Why is it always the Republicans getting blamed for not compromising. Sooner or later the other side must give a little. Stop with all this free stuff sooner or later we need to get back to basics. If you want to get ahead in life work for it. Maybe another idea is to cut congresses pay. You can call me a hardass but we need to stop raising the debt ceiling. If it takes shutting the government down then do it maybe then Americans will get the idea. If not Greece here we come.

Response by MAJ Matthew Arnold made Oct 22 at 2015 2:16 PM

2015-10-22T14:16:06-04:00

Is there a compromise that will raise the debit ceiling now, because it may necessary, but puts controls into effect to bring the debit down to a reasonable amount in a reasonable time. I can support such a compromise.