Right, so, Debt Ceiling. (I'm still underway right now so I can't do the heavy research required for, say, that monster of a post in the WTFrick thread, but I can at least look at a few Googled links.)
There are pros and cons to having a debt ceiling--on the one hand, it attempts to restrict government spending and power, and impose fiscal responsibility. On the other hand, if the debt becomes high enough that no more debt can be added on legally, certain government agencies (CIA, FBI, Military, etc.) either shut down, or else basically have unpaid employees, at least until they figure out what to do. I've always held that proverbs hold the best messages; however, they also seem to be very forgettable, which is another problem: no one teaches proverbs in school anymore. What's with that? Proverbs like "A fool and his money are soon parted," or "Pay beforehand was never well served" are as essential to today's thinking as they have been in the past. And yet no one passes this wisdom on to their children. I wonder why?
@Q.U.: Why should the government not
subsidize insurance companies? Explain, in detail, what is wrong with it, because I'm not sure I understand your concern.
@Val: In that first link you posted, it reads "They might want to spend so much money deliberately, to cause a collapse and then pretend to be the saviors of society, as the late Richard A. Cloward and his widow, Frances Fox Piven, told them to do
46 years ago."
I assume that if you are linking it you fully support it as credible. That said, do you believe that those in power are trying to do that? It would certainly make sense, the way things have been going.
Also, when I say "Those In Power" I'm not talking about the ones "we think" are in power. The ones who really run it
Valhallen wrote:The debt ceiling has never been met. It has never served to limit government spending. Raising the ceiling represents continuing the status quo. That said, running into the debt ceiling would result in a sudden drop in government spending, which would be bad for the economy on its own. It's just that the fallout from defaulting on the debt would be so much worse that it's more in the focus.
So what's stopping us from cutting spending? And please don't say "the Republicans," the Democrats are just as guilty of it as they are.