The Associated Press in a story posted on Yahoo News today headlined “Bernanke urges GOP to support raising debt ceiling”
Federal Reserve Chairman Ben Bernanke on Tuesday urged Republicans to support raising the nation’s borrowing limit. He claims that threatening to block the increase to gain deeper federal spending cuts could backfire and worsen the economy.
Even a short delay in making payments on the nation’s debt would cause severe disruptions in financial markets, damage the dollar and raise serious doubts about the nation’s creditworthiness, Bernanke said.
Look this is not that complicated for those who have and are willing to use just a little of the common sense that GOD has given them. Raising the debt ceiling will do nothing without cutting and I mean real cutting. If all we do is raise the limits all we are doing is kicking the can down the road and putting our children’s future at more risk.
If I was irresponsible and continually over spent and kept going to the back for more money the back would throw me out and say change my habits and they would be right to do so.
These elected officials think that its fine to give money freely to China in the form of aide and then let china buy our debt and own our nation? This is truly a land of idiots and this thinking is dangerous to our nation.
The story goes on to say that it wasn’t Bernanke’s first warning to Republicans, who are vowing to block an increase that doesn’t include a deal to slash government spending by the same amount. But it was his most explicit in terms of the consequences.
The nation reached its $14.3 trillion borrowing limit in May. Treasury Secretary Timothy Geithner has said that the U.S. could default on its debt if it doesn’t raise the limit by Aug. 2. The debt limit is the amount the government can borrow to help finance its operations.
This sentence is a lie – “The debt limit is the amount the government can borrow to help finance its operations.” it should read, The debt limit is the amount the government can borrow to help finance its habit.
Any Republican who caves in knows that they will be replaced so for their own personal and selfish reasons they will not give in because that would be their own political death.
Here in the US we do not have a problem with not enough income we have a problem with too much spending.
Here are a few simple steps from the uneducated to help the highly educated who have not common sense.
- Stop sending our cash to nations that hate us in the form of aide. You cannot buy friendship. They are using us.
- Cut the social programs that are meant to create government dependents and democratic voters. We need to make personal responsibility something that again defines what being an American is.
- When we have to send our miltary to other nations to help free them from the evil ones who wish to use their religion as a weapon to gain personal power and wealth, we need to bill them. This does not have to be for profit but we should at the very least get paid back what we lost. The nations in the Middle East are rich with the oil we need but we give them our money and our blood and leave all the cash for them. If they have the ability to repay then they should.