Should the US Government raise the debt limit...?

IMHO we need to stop digging the debt hole deeper. If we default then those other nations that lend us money will be less willing to do it. It will be like a family who had their credit cut off. They will have to live within their means. That means raising taxes OR cutting exemptions AND cutting spending. I think grounding Air Force One is a good place to start. A quarter million dollars an hour to take Obama to play golf with Tiger. What a waste.

It's fairly certain that the US will never be able to pay off it's current debt. There is no reform even imagined by the most conservative Republican that will pay off the debt short of selling all public land to top dollar.

The value of the dollar is primarily held up by the requirement of pricing petroleum in dollars. In this way, all other petroleum consuming countries must maintain a supply of dollars. This means the dollar keeps having value.

When people like Gaddafi make plans to use a new base currency for petroleum the United States takes swift action to ensure that the dollar remains the base currency--in this case by killing off Gaddafi.

As long as the dollar remains the universal currency for oil the debt has no meaning. It's simply a number.

Can the United States maintain the Petro-Dollar indefinitely?

http://www.youtube.com/watch?v=52DpTsHkd2U

No. The cap on the debt limit is to prevent a power-mad group with control of government from sinking the nation into terminal debt and economic chaos. At $17 trillion in debt, we are dangerously close to the situation now, and the periodic conflicts over raising the debt are helpful in calling attention to the problem.

The imposition of a government shutdown is a check on the reckless spending of those in power, and the opposition party has an opportunity--and a responsibility--to force a slowdown in spending as a condition of risking higher debt. Rolling back some of the worst consequences of the disastrous Obamacare policies is minimal as a precondition for returning to business as usual.

Cheers,

Bruce

Should the government impose breeding limits?

(Only someone with severe Math deficit would imagine that you could run a household budget on a predetermined fixed dollar sum, even as wages rise, and the family grows, and they need a bigger house....why do you think that isn't the same for a government? Should the US government be limited to the debt ceiling Congress first imposed in 1917?)

Perhaps you do not quite understand that YOU are who will suffer if the ceiling is not raised...most of your elderly neighbors live on Bond interest, which will cease if we go into default....without Bond sales, the Feds will have no money to pay the US Military....are you looking forward to having to learn to speak Persian?

شما ممکن است ادم سفیه و احمق!

Yea, so we can BORROW MORE MONEY to pay on the DEBT from the DEMOCRATS borrowing so much money.

The USA is INSOLVENT under the Democrats. We have to face that fact. DEMOCRATS are just borrowing more so they can put off the day of reckoning to a day they are no longer in power, so they can blame BUSH again.

Why don't you go get a credit card to use it to pay of your other credit card?

Did you know KITING MONEY is illegal for American Citizens for a reason...but the American government under DEMOCRATS is bankrupt, and just won't admit it yet.

you are right, the debt ceiling is not how spending is managed, it is just an alarm bell that tells congress they need to get serious about budgets.

here is an interesting tidbit for you to chew on, Reagan increased the debt ceiling 18 times, for an overall increase of 150%. Obama is now at seven requests for an overall increase of 27%.

There shouldn't be one. The time to decide whether to spend money is when debating spending bills, NOT after the spending has been authorized.

BTW, am I right in guessing that you've completely oblivious to the FACT that spending has been repeatedly cut, and the deficit is much lower than it was?

Sure why not I wont have to be around to pay for it nor the 10,000 a day that's retiring,.