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What is going to happen When the GOP votes to raise the debt ceiling?
Anyone with half a brain knows that they are going to have to raise it soon. What is going to happen to the GOP members that vote to raise it? What is going to happen to the Speaker? Will the TEA party go nuts and declare war on them?
It's going to be fun to watch for sure. And if they somehow DON'T raise it? Well, let's just say that people thought that 2008 was bad? It will be a cakewalk compared to 2011.
The GOP is the KEY to this because some members will have to vote YES for it to pass.
The debt ceiling allows the US to borrow money to meet our CURRENT obligations. It is not so we can spend more. The USA does not take in enough revenue to cover all of our obligations. That means things like the Border Patrol, Air Traffic Controllers, the FDA (Imagine what would happen if we did not have enough inspectors to take care of just the meats that are imported into the US daily)
Just for an example we could cut EVERY dollar we spend for defense and still not have enough money to pay our bills until Oct 1, 2011. Then it would all start over again.
7 Answers
- 10 years agoFavorite Answer
I agree that they will raise it soon. They have to. The GOP needs its big government just like the Democrats do. How else will they pay for all of these wars?
Maybe the problem is because we have too many current obligations. What if we decreased our spending to the point where it would no longer be necessary to borrow money in order to keep our system afloat?
If we don't have enough money to pay for it, we shouldn't buy it!
- 10 years ago
Obama and the dems want the debt ceiling raised so they can spend more and create more debt that we can't afford.
EDIT:
RIGHT we have to BORROW more to MEET the financial obligation of our BORROWED money debt.
There is no end to this cycle except the financial ruin of America. Like Greece.
The debate over Greece is IF they are given more money can they financially help themselves and repay any portion of the debt and most think NO.
America can't afford to pay the INTEREST on our current debt so lets not be stupid and increase the debt because it WILL come due again and this cycle we don't need.
- LegitLv 410 years ago
Why is the GOP part of this question? Democrats are more willing to raise it than Republicans.
I think it is ridiculous. Somebody needs to stand up and say something... Oh wait... Ron Paul
- Anonymous10 years ago
The dollar dies and we all get to live like Ethiopians.
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- ?Lv 710 years ago
Well, I guess we won't default on our debt.
Now let's cut military spending and raise taxes on the super-wealthy and stop letting corporations evade taxes.
- Anonymous10 years ago
we do not declare war,we just kick them out...
