The debt ceiling: raise it again?

[The Northerner]

Run time: 09:20 https://www.youtube.com/watch?v=Bb6hel4XFPE   Posted on YouTube: May 07, 2011 By YouTube Member: RTAmerica Views on YouTube: 305   Posted on DU: May 07, 2011 By DU Member: The Northerner Views on DU: 609

 
Raising the debt ceiling is nothing new for America. Yet, regardless, the majority of the country opposes raising the limit for the tenth time in just as many years. Is it just protocol at this point or can it help our waning economy? Charlie McGrath speaks out on the debt ceiling and what other options exist.

[bjobotts]

1. Extremely short sighted.The debt was increased by repubs to this outrage and we do know the outcomes

Beware as this debate has evil lurking under its guise. It causes the focus to be on spending rather than on revenue. 2 wars and a give away to big pharma with this prescription drug plan all put on the credit card while at the same time cutting taxes on the wealthy and the corporate tax loopholes has drained the treasury increasing the debt lowering our ability to pay it down.

Putting conditions on the debt ceiling stops us from investing in our economy which will improve the economy so we can pay down our debt. We get paybacks from our investments in health care which will lower the debt in the future and this is but one area.

This debate about raising the debt ceiling focuses only on spending cuts when it should focus on revenue collecting. Most don't know that $34 billion is currently owed the IRS but repubs voted unanimously to cut the IRS budget making it nearly impossible to collect.(focusing only on spending again)

This new "Depression Maker" bill, the Corker-McCaskill bill called Commitment to American Prosperity Act is where the demons lie because it doesn't mention any programs for cutting spending but merely places a ceiling on spending. So even if there is money in the treasury to cover emergency spending like disasters or war it cannot be used for that purpose because that might take us over the debt or spending ceiling. Therefore we'd have to cut programs we currently are spending money on like Medicare and Medicaid and SS or education or defense to put us below the spending level of the debt ceiling. It does not even mention raising revenue like rolling back the Bush tax cuts or closing corporate loopholes to raise revenue to the levels we had in our treasury before this trickle down nonsense began.

McCaskill claims we just have to get a super 2/3rds majority to change the ceiling in an emergency...hello?...the stimulus bill was an emergency to keep us from going into another republican great depression...and look what it took to get that so forget about super majorities because the wealthy want to end Medicare and privatize SS anyway...McCaskill is trying to make a name for herself but is keeping the wrong company like Lieberman and Feinstein...she forgets who elected her. Her bill is insane..a real depression maker. The American Prospect has and article pointing out its insanity called "A Spending Cut By Any Other Name". Well worth reading for anyone wanting info on this debt ceiling debate and this insane bill.

This guy uses Geitner's name to scare us but no matter what we do know that putting conditions on the debt ceiling at this time will result in cutting Medicare and Medicaid, education and SS. The president asks for a clean bill for a reason...putting conditions on raising the debt ceiling is not the way to reduce our debt or deal with the problem. It will make dealing with the economic emergency we now face a depression much worse than the last one. I support the president on this one and urge you to do the same. We need another, larger spending stimulus package to get the economy moving again so people have money in their pockets to spend.

[JDPriestly]

2. You are so right, bjobotts. Shortsighted was exactly the word

that came into my mind when I heard him.

Tax the rich. Tax the Wall Street bonuses. Tax superlarge inheritances. That is the way to bring our budget back into balance.

The rich are not creating jobs. If they were, we would not have so many jobless, so many people on food stamps, so much poverty.