01-28-2023, 02:14 PM
Quote: @AGRforever said:
Debt ceiling….@BigAl99 said:
We shouldn’t raise the debt ceiling. We should cut spending or tax more.@AGRforever said:
What I don't understand is why the GOP doesn't negotiate with the democrats and get this speaker thing over.Then you will really enjoy debt ceiling debate.
But on the other hand, I do find it nice that they're not getting a damn thing done.
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The debt limit, or debt ceiling, is a restriction on how much the federal government can borrow to pay its bills and allocate funds for future investments. When Congress appropriates or directs government money to be spent, the government is obligated to pay those funds, creating a bill it must pay.
This bill, also known as the national debt[1], is the amount of money the federal government has already borrowed to cover outstanding expenses in past fiscal years.
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Summary:
it’s more about money that has ALREADY been spent. So if the debt ceiling needs to be raised, it is because they need money to pay debts. Not raising it is the same as saying we will not find money to pay outstanding debt hence defaulting. Good luck with that
Cutting spending is something that can (and should) be done during new legislature towards FUTURE initiatives.
Thus we can and should raise the debt ceiling to pay outstanding debts and ALSO lower future spending.