DUH ? WTF ? :/ So if I go to the bank and increase my loan amount, do I owe more money or the same amount ? [youtube]http://www.youtube.com/watch?v=ZtOhY2lbBHQ[/youtube]
Well he's technically correct. If you go to the bank and increase your credit card limit your balance hasn't changed at that point. You still owe the same amount you did until you actually borrow more money by making expenses - at that point you owe more money.
Technically, Smechnically. What's happened "every" other time they have increased the ceiling ? Yep that's right they spent all the way up to that current limit.... And then increased it yet again. It's like the interest only loan from hell, only problem is that the the U.S Gov't is transitory and is using the credentials of the citizens to take out the loan. Oh yessiry bob we (the U.S Gov't) will pay it back, but Aw shuck's and shit a brick now, will you look at, that we are no longer in Gov't... Oh well guess the Guarantors for that loan will cop it sweet huh
An increases in the debt celing does not raise the amount that the government is able to borrow or be in debt to, rather it gives permission to pay for the debt that has already been incured. Failure to do this would result in what we would call a double disalution and a suspension of the government to pass any budget legislastion. It is not asking for more money its repaying what has already been spent,
I understand that facet of the ceiling but at the same time it is also a function of accruing additional debt/spending. IE It is basically saying we are good for it to the rest of the world. Basically it's a Oh Yeah we can pay for that despite only being able to barely afford the interest on what they already owe.
Umm no it isn't, any further spending/tax cuts need to be approved you're just changing goal posts because what is or should be common sense and isn't actually political became a game of chicken played by the same idiots that bought you vaginal probes and creationism..
It is all a charade, the limit WILL be increased a few seconds before the chopper comes down. I think this is the 72nd increase since WW2, and I expect the 2017 Debt Limit will be increased from US$399 Trillion to US$2199 Trillion. OC
Man, Obama's giving George Dubya a run for his money. At least Bush jnr knew he was stupid. Obama (and his presidency) is just a product of 'Affirmative Action".
I'm suspecting that there will be a deal on the debt ceiling with comfortable time remaining. I don't think the GOP will put up too much of a fight this time around. They'll posture like a frilled neck lizard, but it's just for show.
Seems to me like going to the bank, cap in hand, asking for a limit increase so you can afford to keep paying the interest...
