A new Fox News poll shows that a majority of American voters--58 percent--would vote "no" on raising the debt ceiling. Only 37 percent of American voters would vote to raise the debt ceiling.
An even bigger majority--62 percent--would only vote to raise the debt ceiling after "major cuts in government spending."
Only one in four Americans--27 percent--says that it would be "reckless" even to debate not raising the debt ceiling.
The poll, conducted by a bipartisan team of polling firms surveying 952 registered voters on land lines and cell phones, was conducted on Oct. 1 and Oct. 2. The margin of error is 3 percent.
Spain - $18,395
Portugal - $19,989
France - $33,491
Greece - $38,937
Italy - $40,475
Ireland - $43,887
USA - $44,215
NOTE: Under Predient Obama's plan, gross debt allone would reach $75,000 per capita by 2022.
Voters expect Congress and President Obama to reach an agreement to raise the government’s debt ceiling by October 1, but they’re evenly divided over whether that’s a good idea. The latest Rasmussen Reports national telephone survey finds that 73% of Likely U.S. Voters think it’s at least somewhat likely that the debt ceiling will be raised before the federal government begins defaulting on its debts. This includes 44% who feel it’s Very Likely....
Yes, this is exactly what a lot of people want. Let's never waste an opportunity to stomp the poor further into the ground.
It will cut back on essential and socially useful spending and programs.
But that is what you want, isn't it?
The simple mathematical fact is that the debt ceiling must be raised to support the debt based system they have created. It's a debt based system for a reason, it needs a continuous flow of debt to maintain liquidity and if they stop injecting more debt into the system it will collapse and thus the petrodollar and world reserve currency will collapse with it.
See: True Money: Part II
Like Pejeu said, we're not talking about the family budget here...
Again with the silly right wing arguments about balancing budgets and what not.
Like you're talking about the family's budget.
The diplomatic battle over what to do in Syria may be on hold for the time being, but the core conflict in the battle to save the petrodollar is still in play. On Sept. 13, a former head trader at the Royal Bank of Scotland (RBS) provided new insight to the recent pull down of precious metals and the sudden currency crisis taking place in the nation of India. In his update, the man known as the Guerrilla Economist believes that when the U.S. failed to secure domination over events in the Syrian civil war, they and their Western partners began an all out economic attack on the BRIC nations, and their plans to replace the dollar with a new reserve currency....
In 2010, the IMF projected an unsustainable trajectory for public debt—the federal government debt ratio could reach levels unseen since the Second World War (close to 100 percent of GDP). Since then, Congress passed several pieces of legislation―one of which led to the events that brought about the sequester. Today, the projections look markedly better (see chart). The federal debt in 2020 is now anticipated to be about 20 percentage points below what it was projected to be back in 2010. Despite the substantial improvement, the long-term outlook remains challenging. This is because of the impact of population aging, rapid growth in health care costs, and the anticipated increase in interest rates. Spending on Social Security and major health care programs, even considering the recent slowdown, is expected to increase by close to 2 percentage points of GDP over the next decade. A similar increase is projected for net interest outlays, as interest rates gradually normalize. Hence, with no further actions to raise revenues and reduce entitlement spending, the public debt ratio would start rising again―and this time, from a relatively high starting point.
At the same time, countries with high debt and low investor base risk, which include Germany, Japan, and the United States, did not face similar market pressures despite their high projected levels of debt, while countries with low debt and low investor base risk, which include Australia, Canada, and Sweden, became the “new safe haven” countries during this period.
Would you be offended if I told you that I chuckled the first time I read part 1?
Please enlighten me as to how my solutions relate to a family budget?
reply to post by xuenchen
Here are the options...
(A) The GOP will either cave altogether and raise the Debt Ceiling or accept some inconsequential token and tout it as victory and Raise the debt Ceiling..
(B) We default and enter a second recession/likely depression given our economic fragility.
That is simple economics 101.
There is no 3rd option.
If the President affirms the tactic of taking the economy hostage by giving them their demands, he changes the way our democracy works. He validates the tactic for all administrations to come...GOP, Dem, 3rd party whatever..Laws passed and upheld by the SCOTUS? Garbage...Votes in Congress? who cares....just wait until the debt ceiling and take the economy hostage...perpetual crisis and instability.
That's it...that's the bottom line...default and depression or the GOP puts down the gun it's holding to Americans heads.
Partisanship aside...Default is worse for our economy than the mortgage crisis. This is no joke. It's not the place to score political points or engage in BS.