Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Why can't libs understand that not raising the debt limit will not cause the US to default?
It's just a lie, it's not true. Educate yourselves for the country's sake!!
Not raising the debt limit WILL require the budget be balanced, but it will not cause a default.
11 Answers
- ?Lv 78 years agoFavorite Answer
239 billion to pay the interest on the 16.4 trillion the nations debt, that is for the entire year, taken out of 2.3 trillion in revenues.
Nope can't be done.
Liberals think spending Authorized b y law must happen....it doesn't. The way the government operates it that the Congress creates an Authorization to do X. Then they must create an Appropriation to allocate the money to the Authorization. This must happen every year....it is called "A Budget" for known operation of the government and programs and "Special Appropriations" for surprises such a hurricane relief and wars and such. Something to be spent on in the future is not a debt. If the money is not authorized to be spent it is not a debt. Just because you plan to buy a new car does not mean you must....only Liberals think that. The government planned on 250 F-22 at 250 million a pop....that is not debt. the 48 they did buy, that is debt. Welfare checks for March are not debt...until the checks are sent out...if the checks are not sent , it is not a debt that is to be paid.
Now we have two types of governmental spending, 1. is By Law spending, spending that is authorized by law.....Department of Education, NASA, National Endowment for the Arts. The 2nd is US Constitutionally mandated spending, that is all the spending required in Art 1 Sec 8 of the US Constitution, Defense the establishment of Post Offices and Roads. Courts and Parole for President , Senate and the House.
So
When we need to cut we cut that which is not required by the US Constitution.
Now the math
239 Billion from 2.3 trillion leave 2.1 trillion. 500 billion to Defense equals 1.6+ trillion.
Clinton ran the whole government on 1.75 trillion including defense
2002 Bush ran the country and two wars for 2.2 trillion that is including defense.
Why can't Obama run it for the same money?
Source(s): Whiskey - Anonymous8 years ago
Actuall it will, let's just think about this
A country in debt, paying the debt would be logical but what your saying is instead of paying the debt will just raise the max possible debt?
Genius fucking genius
- ?Lv 58 years ago
Morons. I wish I could step outside this world and let the Obamaites get everything the want just so I can see the loom on their faces when it all goes to sh*t
- Anonymous8 years ago
Obama was against raising the debt ceiling when Bush was president and the debt was $8 trillion less than now
- How do you think about the answers? You can sign in to vote the answer.
- StephenGLv 78 years ago
yes it will of the biggest depression you have ever seen. Fell safe in NZ forget it, it will affect you to mate
- juiceboxLv 58 years ago
And therefore cause a terrible depression that will shake financial markets and cut credit off to any business or individual. Have fun living in your stubborn conservative utopia!
- Anonymous8 years ago
You make me sad.I shall pray for you.Do not be concerned,i am not a believer.
- Anonymous8 years ago
Bills already incurred, will or will not be paid.
- Anonymous8 years ago
That's bullshit. You have no idea what you are talking about.