Raising debt allotment

[Phil]

I am sure that they're going to increase the debt allotment. Its a bad idea. It only makes you think you have more money and it has to be paid back.

If your credit card limit is near its maximum the Visa or Mastercard company will say that you need to pay off an amount of your balance before more can be charged to your card.

The national debt ceiling is nearing being reached. *something Obama said he would reduce when he was running* The debt has increased in triplicate since he has taken office. I am not in this thread to take a stand on Obama's presidency although I think everybody here knows I did not vote for him. If Obama supporters want to explain why this has happened they're entitled to do so.

The fact is that the debt has tripled on his watch. I am not even saying it is all him but that was something he was supposed to lower not raise when he took office.

Now they are close enough to its max to say that if the limit is not raised we as a country can not continue to operate.

The President has even said that social security checks can be withheld.

Senior citizens or disabled people who paid into social security for decades may have their check withheld to pay for the government's error.

I made a video about this the other day.

My father died in January as forum members are aware. That means my mother is on social security. Ok, ok, my dad did leave her in financially good shape and its not that she technically cant survive without the social security check but my dad paid into that for decades so if this day came there would not be a problem.

Does my mother have other income? yeah. my parents own some duplexes and we could sell off some of my dad's old cars. But the social security is the regular day to day income for my mom.

Some people, in fact most people in my parents age group only have social security to go on.

And the President and congress might hold it hostage to get their agenda pushed?

I know this would take a while but to not be a debtor nation would be the 1st step.

That means factories. Build things at home.

Americans, buy General Motors cars and trucks,*Chevrolet, Buick, Cadillac, GMC, Saturn, Pontiac.* Ford Cars and trucks *Ford, Mercury and Lincoln* and Chrysler cars and trucks.*Dodge, Chrysler, Jeep.

Stay away from imported vehicles while the country is in a recession. Not only cars, whatever you buy make the effort to buy American made products. Sometimes its impossible. Things like computers, televisions, radios is not impossible but very difficult.

If we dont start manufacturing at home we will be a bankrupt country within the next 25 years.

[Classicblast]

If congress really wants to step forward and show their sincerity they could decline their own pay until a budget is set.

Hey, they don't live on their salary anyway. Their expenditures are covered Let them all decline their payroll until their current term is completed. Then review it in four years and see if the debt is lowered enough to reinstate their salary.

Phil is right though unless we start manufacturing in this country again the debt will not be gone. Raising taxes is not how you fix it.

[Phil]

That's a good idea. Not that they'd ever do it.

[fartinggurl]

They need to stop outsourcing jobs and letting the members of congress vote themselves pay raises. Things are difficult enough as it is, and raising taxes is not the right solution, especially with so many people out of work. I like Classic's suggestion that congress should decline their pay until some kind of budget is set.

[Phil]

Jul 25, 2011 22:05:51 GMT -5 fartinggurl said:

They need to stop outsourcing jobs and letting the members of congress vote themselves pay raises. Things are difficult enough as it is, and raising taxes is not the right solution, especially with so many people out of work. I like Classic's suggestion that congress should decline their pay until some kind of budget is set.

That's it in a nutshell. If you spend more than you generate you can't survive. Its just like if your job pays 75,000 a year and you spend 85,000 and you have credit cards that allow you about 40,000 in about 3 or 4 years you're out of money and out of credit and you owe at least 40 grand.

When that happens you need to either, get a 2nd job to pay about 10 grand a year, it would still take about 6 years to pay the debts though, or you can start selling off assets to pay off the debt but you still need to reduce spending. Otherwise you pay off the debt and lean on the cleaned up balances and 3 years later you're right back where you started.

What you can't do is raise the credit limits. That will only end up making you think you have money to spend and you end up 80,000 in debt instead of the original 40.

If we don't start manufacturing at home that's not going to get any better.

Ford, General Motors, Chrysler, Magnavox, RCA, all the manufacturing companies need to press hard that we do not outsource we employ American labor, and use that as a selling tool.

Chrysler had the commercial during the Super Bowl. 'Some say imported items are the best. Some say Detroit is a city that has been to Hell and back. Well the hottest fires make the hardest steel. Chrysler imported from Detroit.'

I thought that was perfect and a direct mention of build in America. As long as this country depends on imported goods we will spend more than we generate.

And I love Classic's suggestion. And the congress people would snub it but I'd have to give strong vote consideration to anyone who gives back their salary for the good of the country no matter how I had voted previously. In fact the person running against them would have to be willing to make the same deal or being elected would be out of the question.

[Classicblast]

Its looking as if there's going to be a compromise on this. Some expenditures are going to be cut but there's going to at least be a temporary raise in the debt limit. Obviously nothing has been fully decided yet but I don't like "temporary" increases or "Temporary" taxes those things have a way of not being temporary.

[Phil]

They're going to do it. I hate the idea but I know it will happen.

We need to start manufacturing in this country like before. Become less dependent on other places. If we don't start generating more than we spend we will always be a debtor nation. It's like if you spend 10 thousand a year more than you generate you will be 10 grand in debt. If you do it again next year you will be 20 grand in debt.

The government for the last 30 years has either borrowed from the national debt or raised taxes to cover the fact that there is a debt neither makes it go away and that's not going to happen unless we start generating more as a nation.

[Blastgirl]

Despite your best efforts they put it through with a compromise. I think Phil has a good point about making it so the American Economic system should become less dependent, But until that can be made come to fruition this is how they're going to solve the short term problems.

[Phil]

They also seem to want to hold social security hostage to get the budget set. I am really tired of these people.

[Ordinaryguy]

When Obama said he "couldn't guarantee" Social Security checks would go out if he didn't get his way, that was awful. Evil actually.

[Kimm]

Aug 11, 2011 14:40:12 GMT -5 Ordinaryguy said:

When Obama said he "couldn't guarantee" Social Security checks would go out if he didn't get his way, that was awful. Evil actually.

Its an imperialistic "if you dont do it my way there will be a punishment."

[Ordinaryguy]

So true

[Kimm]

All these "stimulation" ideas and unemployment, debt and businesses just closing keeps growing. The only thing thats grown in years is unemployment and debt.