Saturday, July 30, 2011

The Debt Ceiling.....so clearly described....

You'll understand so well the Debt Ceiling situation if you take the very few minutes to watch this excellent video on the subject:

I don't know, but it seems to me that the last thing I'd want to do is be in massive debt and call my credit card company to raise my limit. 
any thoughts?  (thanks for the video, Mustang)
Also, if you didn't read about a remarkable woman's funeral, below, please do; I think you'll be glad you did.I  hope so.  
z

21 comments:

Tom's Place said...

Great find, Geeeeez! Too bad it's gotten this far, and we're all going to pay for it one way or another.

tha malcontent said...

Like everything else that he has done, Obama's policies have failed..

Silverfiddle said...

This exposes a fundamental truth: Raise the debt ceiling, and we are now in a deeper financial hole than we were before.

Rather than "solving" a problem, raising the debt ceiling makes it worse, raising the debt faster than GDP puts us closer to insolvency.

The other side of this is that we can't solve the debt problem in one bite or in one year.

The deficit this year is around $1.5 trillion (plus whatever they've hidden from us, and you know they have), but we are over $12 trillion in debt. It will take years of diligent fiscal discipline to set things right.

Z said...

Tom, thanks, good to see you.

Silverfiddle......As I've said before, how's it help when you've max'd your credit cards out so you call your card company and ask them to raise the limit even higher? Does anybody who's got himself that out of spending control actually stop spending when that happens? :-) no......

It will take many years to straighten this out; and it's fine for all of us to cut back UNTIL it actually really HITS US.....then it's all "well, they can't take that from ME"! And, that's why the Dems could win again; people aren't really willing to tighten their belts. Heck, it scares me to consider higher taxes and loss of possible help if I needed it from the gov't, too......

Z said...

by the way, folks.

Did any of you see the Reid, Schumer, "Greek Chorus Durbin" press conference after the vote last night?

POOOOOR Schumer and Reid whined that the Republicans weren't playing ball; that McConnell had promised to meet with them ALL DAY FRIDAY and he just never showed up......he just doesn't care about America "We wasted a WHOLE DAY"...
Oh, that makes Americans sit and take notice, huh?

EXCEPT, I read 15 min. later that McConnell HAD said he'd meet with them any time on Friday if the White House Representatives were there to talk.

Another bald faced lie on behalf of the whiners to show America how AWFUL Republicans are ...no matter that it was a total LIE.

But, Americans hear what they said; they won't be Googling to get information and run across the TRUTH...on THAT Reid and Schumer and his little water-carrier Durbin can rely.

Pris said...

If we're not willing to tighten our belts in stages, it'll eventually come down to choking ourselves to death, all at once!

It's not a matter of if, it's a matter of when! I don't want my kids and my grandson to get stuck with this overwhelming burden.

We can tighten our belts so the government can spend more of our money, or tighten them to take less from the government. I prefer the latter.

Z said...

I agree, Pris; we don't just pull the rug out from anyone starting today. But, we need to figure out how to start tightening and stop spending.

But, we have to reeducate people; so many believe they're entitled to ANYTHING, and they are NOT. Imagine our founding fathers who wrote the Constitution and how they'd consider people who actually believe they DESERVE something for nothing?! Or that we'd allow illegals to come in and take from us instead of punishing the illegality? All this has cost a fortune and the Democrats have to wake up and realize that we need Americans who vote for the COUNTRY not for politicians handing freebies out so they can get reelected.

Pris said...

Z, and I agree with you. I do wonder why politicians would so love power, that they'd be willing to hold that power over a broken country.
There is no glory in that, is there? Only destruction of a once great nation, and for what?

Ticker said...

Connie Mack of Fla presented the most logical plan and simple plan that I have seen yet last night. The basis is to take one cent, yep, one cent from each Federal dollar and in eight years the debt would be wiped out.
t would mandate a 1 percent reduction in federal spending from 2012 until 2017, before imposing a spending cap in 2018. That cap would mandate the total cost of the federal government not to exceed 18 percent of the total Gross Domestic Product. Enzi maintains that the proposal, which backers have labeled the Penny Plan, would cut $7.5 trillion from the federal government over the next decade.

But of course the Libtard leftist socialist would fight it tooth and toenail.

Bloviating Zeppelin said...

The claim by the federal government is that, by capping the ceiling, there will be so many persons underserved, lives wrecked, problems created, etc. -- entitlements and beyond. But when does that end? It can't continue. It is hopelessly unsustainable. So why delay another year? Or another year? While the debt continues to mount and the US is turned further into a bad Third World country. Right now, Mexico has roughly half the unemployment of the US. Mexicans are determining it's best to return to the homeland. Mind you, I'm not complaining at all. But that's called a Massive Clue.

BZ

Dave Miller said...

BZ, I work with a good many of the "returning" Mexicans and those who supposedly have jobs.

Today I had a wonderful time with Juana who explained that she makes $1.75 a day knitting collars to put on shirts for tourists to buy for $30.00.

The legal minimum wage here is under $6.00 a day.

Let's not crow about the unemployment rate when those that are employed make very little a day.

It should also be noted that the unemployment numbers many in the US cite, do not include millions of indigenous people who simply are not surveyed.

Elmers Brother said...

Dave, Mexico's minimum wage is not our issue its theirs. We certainly can quibble about unemployment here. We could also crow about the lower wages due to those 'returning' to Mexico

Elmers Brother said...

And why aren't they surveyed? Because they're illegal.

Lisa said...

great video Z. Those homeowners who figured out the problem of their debt sounds like those crazy radical tea party people.
I find listening to republicans sounds like some logical coherent solutions and listening to the Durbin/Schumer crowds all I hear is alt of nothing and crazy talk with no real solutions.
By the way the Obamcare bill they predict by 2020 will cost $1.00 out of every $5.00. That's the increase Obama promised would not happen.
No wonder they earned the title "Loony Left".
Oh the insanity of it all!

Bob said...

Dave Miller said: "unemployment numbers many in the US cite, do not include millions of indigenous people who simply are not surveyed. "

I guess I am one of those indigenous Americans who are not surveyed. Unemployment has been my lot since just after 9/11, and I am no longer counted. You are right. There are many millions of us.

WomanHonorThyself said...

what a huge help Z..thanks girl!

Impertinent said...

Know what?

I think we're all guilty of this without ever thinking of the consequences. When this is applied to our own financial situations and indebtedness...we tend to be frugal and responsible...for most of us.

However I think that we've always looked at government largess as a good thing. Especially if it benefited us directly.

But now we see who are the adults in the room ( Congress ) when it comes to adhering to the same sound financial principles that we have to live by.

No matter whom you admire in Congress or the Senate today we have to admit that they're all whores. Dependent upon our votes to secure the piece of the pie that we want for ourselves.

Nothing short of the entire Congress / Senate resigning and finding a totally new government committed to financial maturity...will suffice.

But...Power is all that matters once these people get a whiff of it.

So...we're all screwed because they will never forgo those power and perks.

Impertinent said...

""The bigger the lie, the more people will believe it" was a Nazi quote, but this concise version did not belong to Adolf Hitler; it was spoken by Josef Goebbels. Hitler had written "...in the big lie there is always a certain force of credibility...in the primitive simplicity of their (the broad masses') minds they more readily fall victims to the big lie than the small lie..." in "Mein Kampf" (Vol.I, ch.10, p.252; (c)1925)."


Tell me...what has changed?

Z said...

Bob, I couldn't help but laugh because I thought of that when I read it, too..."I guess I am one of those indigenous Americans who are not surveyed."

Imp; all have to go. Even some of the Republicans.
If I have to hear the LECTURER IN CHIEF tell Republicans and half of America off again, I think I'll scream. To watch Reid, followed by Schumer and his little dope who always follows him around and echoes his words, Dicky DUrbin, is almost hilarious if we didn't realize our country was at stake and in the hands of these boobs.

Z said...

Here's a leftwinger's mind, which is REALLY scary;
Instead of learning from the video, I get a comment from a lefty who I won't flatter by repeating his/her name saying how it's "HERITAGE FOUNDATION LOL! "

See the "thinking"..honestly, folks....and we wonder why our country's sinking? These people just can't LEARN and write off anything they don't like as wrong. YIKES

MK said...

The debt ceiling is raising the credit card limit when you're paying the bills to keep you alive with that credit card.

I don't have a problem with going into debt to save country from grinding to a halt, however you must, must, must address the underlying cause of what got you there in the first place.

I have a funny feeling that both sides are really unwilling to do that.