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Breaking: Sources: Tentative debt deal calls for up to $2.8T in savings

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posted on Jul, 31 2011 @ 03:25 PM
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reply to post by Bob Sholtz
 


And that is were Boehner is wrong. Increasing the debt while attempting future cuts is bogus.
And people wonder why the Tea party members are against it also. More show with nothing significant.




posted on Jul, 31 2011 @ 03:31 PM
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reply to post by incrediblelousminds
 


i disagree. how would it?

the government would have to make alot of cuts, but it wouldn't weaken the dollar, it would strengthen it. wouldn't you like to hear that the U.S. debt has stopped growing? what would destroy the dollar is raising the debt ceiling without completely getting rid of the deficit. in a few years interest would be more than tax revenue, and it would be over for us.



posted on Jul, 31 2011 @ 05:11 PM
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off-topic post removed to prevent thread-drift


 



posted on Jul, 31 2011 @ 05:25 PM
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I can't help, but be reminded of the movie Idiocracy. That is going to be our future for sure. We'll just keep raising the debt ceiling until everything costs millions of dollars. Raising the debt ceiling lowers the value of the dollar, just at a slower decline than a default, either way the end is more than likely the same. If this thing passes at the last moment, it will merely delay the inevitable and put us back here at this same spot down the road.



posted on Jul, 31 2011 @ 05:27 PM
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reply to post by Bob Sholtz
 

not raising the debt ceiling in order to address spending is backwards. If you want to address spending, address spending. IF you dont understand how a default on our loans would crash the dollar, then perhaps you need to do some more research on the topic.

Personally, I think it's funny how distracted people such as yourself have apparently become from any talk of actual, substantial cuts with this whole 'debt ceiling' deflection/distraction circus.



posted on Jul, 31 2011 @ 05:32 PM
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Originally posted by Vortiki
. If this thing passes at the last moment, it will merely delay the inevitable and put us back here at this same spot down the road.


Only if spending isn't dealt with.

If politicians were concerned with cutting spending, they would do it. But since they dont want to, on either 'side', they are engaging in this charade.



posted on Jul, 31 2011 @ 07:00 PM
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reply to post by incrediblelousminds
 


yeah, it is very backwards, but it is the only way the necessary cuts will be made. we're not going to default if we don't raise the debt ceiling, but we will suffer a complete and lasting default in a few years if we don't cut spending now.

spending needs to be addressed, but the bill we need will never pass congress. if we don't address spending now, the country will have at most 15 years before it becomes impossible to get rid of our debt.

so, that leaves us with one option. don't raise the debt ceiling.

it won't make us default on interest, because we have the money for that, but all the extra spending the government does will have to be cut sharply.

honestly though? i'm not so sure the government will make the right choice on what to cut. judging from obama's scare tactics with SS and military checks, he'll probably cut important things so people will cry for a debt ceiling increase.



posted on Aug, 1 2011 @ 08:23 AM
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Originally posted by thegoods724
I dont see much in what this guy has to say. Basically its what they have been saying and doing the entire time. That they are close to a deal and they got the right people working together to get the negotiation figured out. Nothing more than words to try and calm the public.


What?

2.8T over what amount of time?



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