Debt ceiling- intelligent discussion plz

How much should we raise the debt ceiling for the President? The debt increased 5 trillion under his first four years. Unemployment is still at the same level, if not higher than when he started. The tax rate increase was more symbolic than fruitful. Think 6 trillion will tide him over for the next four years. The Feds never seem to decrease debt.
So 22 trillion in the hole by 2016? Or just a trillion at a time so we can keep revisiting the ceiling?

Congress can write a reasonable budget. Be prepared to override a veto.

I'm not sure this congress can do that.......they have operated under no budget for too long. (well technically they have a budget, they just keep using the old one) Do any of you honestly think the right and the left can come together on a single package that will satisfy both sides? I don't. The current debt ceiling and a future budget are two entirely different issues.......congress needs to agree to pay the debt they have ALREADY incurred, and then decide how we budget going forward. I do agree with the president on that, the US cannot ignore it's debt, the money is already spent, so pay up and move on. Let the fight be over how we move forward, not on if we should stiff our creditors.

The gov has more than enough income to pay interest on the debt.

Everything else is spending. Since they will never agree on what to cut the answer is to cut everything. Pain for one pain for all.

I would even be willing is to simply limit the spending across the board, right now it rises every year on autopilot. I would permit no increases for any department but entitlements, and in exchange for that, we also look at eliminating loopholes, like grandfathering the mortgage interest rate.

There is so much low hanging fruit and they won't even go after that. Heaven forbid, they might lose a campaign contributor.

chickaree wrote: There is so much low hanging fruit and they won't even go after that. Heaven forbid, they might lose a campaign contributor.

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And THAT really is the bottom line.....the system is rigged for failure (when addressing the critical mass items)JMO

I think the FY 2013 budget is currently running on a CR (continuing resolution) for 6-months thru March 2013. This only covers about $1T of (annualized) discretionary spending, the entitlements are on auto cruise control. So at a minimum the debt ceiling has to be extended thru March based on current law. There are also TBD sequester cuts and technically we are already passed the ceiling since Dec. 31.

Blazer Bob wrote: The gov has more than enough income to pay interest on the debt.

Everything else is spending. Since they will never agree on what to cut the answer is to cut everything. Pain for one pain for all.

And that is something we are not hearing from the president. The way he's laying it out, he makes it sound like if the debt ceiling isn't raised, we won't be able to service the debt... which is NOT correct. I just want honesty from both sides and we rarely ever get it. Obama said in 08 that racking up debt and borrowing from China is unpatriotic... he would have a very strong and admired legacy if he practiced what he preached in 08.

I hope this is considered "intelligent discussion". It's the list of how many times the debt ceiling was raised under various presidents.

This is not a political statement. It is a list of facts.