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View Diary: Debt Ceiling and 44% (29 comments)

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  •  To stay with your restaurant analogy, if you (0+ / 0-)

    or the US government feel that you are spending beyond your means, you don't go to a restaurant in the first place. Instead of raising the debt ceiling to payoff existing debt, don't incur the debt at all. For both governments and families overspending will eventually mean financial downfall (a close example is the unmet pension liabilities of local and state governments).

    •  Exactly, but... (0+ / 0-)

      ...we aren't talking about not going to the restaurant.  We're talking about getting up from the table and sneaking out.

      The money has been spent.  We do not have the option not to pay the bills.  If that means we have to borrow the money, then we have to borrow the money.  The alternative is the equivalent of bankruptcy.

      ------RM

    •  Wrong (0+ / 0-)

      Again this bullshit analogy of personal vs. government debt. I don't have my own currency to float plus i will die some day. The federal government can devalue the currency and also push debt off into the future to grow out of it.

      Just another day in Oceania.

      by drshatterhand on Fri Sep 13, 2013 at 10:48:10 AM PDT

      [ Parent ]

      •  Understood: the difference between personal (0+ / 0-)

        government debt, but what remains wrong is the government's ability to push debt into the future with the HOPE that future administrations will be responsible enough to pay it off.

        •  We rang up a huge debt during WWII (0+ / 0-)

          Yet, we grew out of it. Just don't elect crazy bastards to Congress and the WH then wonder what the fuck happened.

          Just another day in Oceania.

          by drshatterhand on Fri Sep 13, 2013 at 01:15:00 PM PDT

          [ Parent ]

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