US debt ceiling.

[the_bob_delusion]

can someone explain it to me in simple terms. I'm really dense when it comes to global economy.

[the_bob_delusion]

so wouldn't it make sense to allow US to borrow more money? or Lend them more?

[the_bob_delusion]

sorry, that was a stupid question. Why would you lend money to people that can't pay you back. So why are countries lending money to US if they aren't paying it back?

[acacia_pycnantha]

The US govt Needs to borrow more money. and that's the bottom line. The Republicans and the Tea party are blocking the necessary legislation by tying their aquiescence to a de-funding of Mr Obama's health care Bill.

[poddster]

It is closer to reality that the US has been sprung using a magic cheque book and it look like the chickens are coming home to roost For a further explanation of what a magic cheque is I refer you to Salvadore Dali and the explanation of how it works by Robert Newman http://www.youtube.com/watch?v=xAr9nx8mjCY

[jimmy*part4]

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@acacia_pycnantha wrote:

Of course, if the USA reduced their military spending (foriegn wars and threats of more to come) and if they had a fair income tax system, then they wouldn't have nearly as big a debt in the first place.

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That's right! Mind our own business and when problems pop up with dictators murdering tens of thousands of people, spilling into neighbouring countries to take over them, murdering tens of thousands of those people....

I'm ALL for it! And when people start saying, "where is the US? Why aren't they helping us?"...I'll just hold up a stiff finger! They hate us anyway....and so do a lot here too (Australia). It's time we worry about ourselves. There are more than a few countries better off than us....let THEM deal with it! Lets see how all the complainers like how things turn out then.

And while were at it....cut off all aid. Like....why are we giving billions to Egypt?

I say we should fire all of congress, let the Governers fill in while we get new ones. I could get us debt free in just a couple years.

it amounts to rich Republicans blocking a Bill which would provide affordable health care to the poor.

Pfft....you think your boat people are a problem. We have hundreds of millions of illegals here ALL milking the system. They all work off the books, have kid after kid, with no plan or means to take care of them. Everyone already gets health care....they just go to the emergency room. No one is EVER turned away, which is why the illegals stroll across the border from as far as south America.

If Canada's medical system is soo good, why aren't they going there? We are not Canada or Australia and don't want those medical plans. I started flat broke and poor, but almost always had medical insurance....how?? I worked for it!!!

The illegals are breaking our medical system and if we are supposed to take care of them...call it what it is....a new LARGE tax.

And what about the rest of the world....why stop there....take all our money and get them insurance too!

[jimmy*part4]

it amounts to rich Republicans blocking a Bill which would provide affordable health care to the poor.

Pfft....you think your boat people are a problem. We have hundreds of millions of illegals here ALL milking the system. They all work off the books, have kid after kid, with no plan or means to take care of them. Everyone already gets health care....they just go to the emergency room. No one is EVER turned away, which is why the illegals stroll across the border from as far as south America.

If Canada's medical system is soo good, why aren't they going there? We are not Canada or Australia and don't want those medical plans. I started flat broke and poor, but almost always had medical insurance....how?? I worked for it!!!

The illegals are breaking our medical system and if we are supposed to take care of them...call it what it is....a new LARGE tax.

And what about the rest of the world....why stop there....take all our money and get them insurance too!

[icyfroth]

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@poddster wrote:
It is closer to reality that the US has been sprung using a magic cheque book and it look like the chickens are coming home to roost For a further explanation of what a magic cheque is I refer you to Salvadore Dali and the explanation of how it works by Robert Newman http://www.youtube.com/watch?v=xAr9nx8mjCY

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totally.

[jimmy*part4]

And not to worry...they will come to an agreement.

Have a nice day!

[acacia_pycnantha]

Yes, what with spending hugely on the military budget, not gathering enough income tax, and reducing the value of their $ in real terms by "quantitative easing", they have dug themselves into a big hole.

[*crikey*mate*]

So, tell me again why it's good when Australia gets into debt?

[poddster]

Unfortunately Labor were heading down the same path as far as irresponsible spending and living beyond the country's means. Labor , like the typical Yank ethos was to claim that the created a high standard of living so as to earn kudos from the misinformed and uneducated.

The money lenders love countries and people like that. and give the a AAA rating 🙂 Problem is a AAA rating is not negotiable tender but a mere symbolic icon that has zero tangible worth.

The American debt has allowed them to spruke that they are the "Land of the Free and the Home of the Brave", the problem that it has been and continues to be on credit.

At last there are some Americans who are questioning the validity of living maxed out on credit.

The countries tied to America's apron strings will feel the consequences and perhaps the too might learn from the experiences that are to come