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What's the worse case scenario if we don't raise the debt limit?

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InTheLight

InTheLight

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freeatlast said:
No the debt has never went down. The debt as a fraction to GDP has went down but not the debt.
The debt is too great to fix and we will go under as a nation.
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Did you even look at the chart? It's total gross debt as well as debt:GDP ratio.

You can clearly see the debt is in decline after WWII, during the 1950's and at the tail end of the 1990's. If you do not see this, then I am assuming you have problems with your eyesight and/or reading comprehension.
 
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freeatlast

New Member
InTheLight said:
Did you even look at the chart? It's total gross debt as well as debt:GDP ratio.

You can clearly see the debt is in decline after WWII, during the 1950's and at the tail end of the 1990's. If you do not see this, then I am assuming you have problems with your eyesight and/or reading comprehension.
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Yes I saw the chart, but the chart you gave comes from Wikimedia http://upload.wikimedia.org/wikipedi.../3b/USDebt.png and the chart I gave comes from the Encarta by the way of US government http://cedarcomm.com/~stevelm1/USDebt.png
and that chart shows no decrease. However for the sake of argument let's say that the debt at some point before we hit the trillions of debt we have today and the annual defict spending of nearly 2 trillion has went down some time in the past. That has no bearing on this debt as this debt is so far above any past debt it is impossible for most people to even grasp it. The current debt is impossible to fix. Congress is not even able to fix the deficit (annual spending) much less the debt. To lower this debt we would have to first cut around 5 billion dollars a day because that is how much extra we borrow every day to pay the bills. Five billion is 5000 million a day and that is about 2 trillion that has to be cut from the yearly budget before we could even began to start cutting the debt of over 14.5 trillion. By the way one billion is 1000 million and one trillion is one million, million and we are 14.5 trillion in debt. So it is impossible to fix as we have went too far into debt.
 
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Havensdad

New Member
freeatlast said:
Yes I saw the chart, but the chart you gave comes from Wikimedia http://upload.wikimedia.org/wikipedi.../3b/USDebt.png and the chart I gave comes from the Encarta by the way of US government http://cedarcomm.com/~stevelm1/USDebt.png
and that chart shows no decrease. However for the sake of argument let's say that the debt at some point before we hit the trillions of debt we have today and the annual defict spending of nearly 2 trillion has went down some time in the past. That has no bearing on this debt as this debt is so far above any past debt it is impossible for most people to even grasp it. The current debt is impossible to fix. Congress is not even able to fix the deficit (annual spending) much less the debt. To lower this debt we would have to first cut around 5 billion dollars a day because that is how much extra we borrow every day to pay the bills. Five billion is 5000 million a day and that is about 2 trillion that has to be cut from the yearly budget before we could even began to start cutting the debt of over 14.5 trillion. By the way one billion is 1000 million and one trillion is one million, million and we are 14.5 trillion in debt. So it is impossible to fix as we have went too far into debt.
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This is so wrong that it is laughable. No, we are not borrowing five billion per day. Please quote a reputable source for that. The total amount borrowed for 2010, was 1.27 trillion. That is 3.4 billion per day. Please note, though, that nearly half of that was to fund military actions. Stop the wars, bring the armed forces back to the home soil, and you cut out half the yearly deficit.

The debt can be fixed. The numbers are clear. Cowards and defeatists are the only things that can keep us from straightening it out.
 
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freeatlast

New Member
Havensdad said:
This is so wrong that it is laughable. No, we are not borrowing five billion per day. Please quote a reputable source for that. The total amount borrowed for 2010, was 1.27 trillion. That is 3.4 billion per day. Please note, though, that nearly half of that was to fund military actions. Stop the wars, bring the armed forces back to the home soil, and you cut out half the yearly deficit.

The debt can be fixed. The numbers are clear. Cowards and defeatists are the only things that can keep us from straightening it out.
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I know this is going to be difficult but please stay with me. This is 2011. The debt cannot be fixed.
 
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Havensdad

New Member
freeatlast said:
I know this is going to be difficult but please stay with me. This is 2011. The debt cannot be fixed.
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We are still not borrowing 5 billion dollars per day. The debt can be fixed. The numbers do not lie, and they clearly show that the budget can be balanced, and the debt paid down. It probably won't be, because of cowards and defeatists.

Quitters can't do anything..
 
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freeatlast

New Member
Havensdad said:
We are still not borrowing 5 billion dollars per day. The debt can be fixed. The numbers do not lie, and they clearly show that the budget can be balanced, and the debt paid down. It probably won't be, because of cowards and defeatists.

Quitters can't do anything..
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I heard that figure the other day from one of the officials but I now cannot find it so even using your figures it is still impossible to fix the debt of 14.3 trillion.
 
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Havensdad

New Member
freeatlast said:
I heard that figure the other day from one of the officials but I now cannot find it so even using your figures it is still impossible to fix the debt of 14.3 trillion.
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Glad to see you actually admit you are wrong about something. Course, don't know why you would bother backing up what you say with a source, or facts. You haven't with anything else.

Fixing the debt is not impossible at all. Actually quite easy, if the government would quit trying to be a socialist regime. Math does not lie.
 
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freeatlast

New Member
Havensdad said:
Glad to see you actually admit you are wrong about something. Course, don't know why you would bother backing up what you say with a source, or facts. You haven't with anything else.

Fixing the debt is not impossible at all. Actually quite easy, if the government would quit trying to be a socialist regime. Math does not lie.
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I did not say i was wrong. I just could not find the reference. The debt cannot be fixed. We have went too far. What is being proposed so far is not fixing the debt or even the deficit. Every proposal is to raise the debt and slow the deficit. The reason is the debt cannot be fixed and we will default and lose just about everything in the near future.
 
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Havensdad

New Member
freeatlast said:
I did not say i was wrong. I just could not find the reference. The debt cannot be fixed. We have went too far. What is being proposed so far is not fixing the debt or even the deficit. Every proposal is to raise the debt and slow the deficit. The reason is the debt cannot be fixed and we will default and lose just about everything in the near future.
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Thats simply not true. The reason is that the politicians have agendas. The debt can most certainly be paid off. You need a lesson in simple math and addition.
 
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freeatlast

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Havensdad said:
Yes it can be.
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If you mean by fixing it is like saving a mans leg and he dies 10 days later of gangrene then yes it can be fixed however the fix kills the patient. The same with the debt. Some drastic things could be done, but they would just destroy the nation in the end. The debt is too great to fix if saving the nation is the intent and so we will default and lose just about everything as the debt cannot be fixed.
 
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Havensdad

New Member
freeatlast said:
If you mean by fixing it is like saving a mans leg and he dies 10 days later of gangrene then yes it can be fixed however the fix kills the patient. The same with the debt. Some drastic things could be done, but they would just destroy the nation in the end. The debt is too great to fix if saving the nation is the intent and so we will default and lose just about everything as the debt cannot be fixed.
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How would bringing jobs home, deporting illegal aliens, and lowering unemployment "kill" the nation? That does not even make sense.

Yes, the debt can be fixed, and should be. We can quit borrowing right now, live within our means, pay down the debt, and put the country back on the right track.
 
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