Senate Democrats back automatic debt limit hikes
It is bad enough when the debt ceiling was lifted. Now, the government wants to have an automatic debt ceiling. They want the ceiling to go up automatically when they are borrowing more money. Unlike before, they will stop when they hit the limit and try to lift the ceiling. Having an automatic debt ceiling is a horrible idea because there is not an actual limit. The limit is supposed to prevent our nation from borrowing too much money. Without an actual limit on debt, our government would not refrain from borrowing money.
I'm starting to feel a little like a broken record but all of this debt limit garbage is due to Obamacare. All the politicians are starting to realize how poor of a decision it was to pass the law and now the rush is on to stop the government from shutting down. I feel like the ability to move the debt limit defeats the purpose of having a debt limit because its not really a limit if you can adjust it.
ReplyDeleteIt seems like the democrats are perhaps now trying to compensate for the mistakes that were made as a result of ObamaCare, among other things. Things are only going to get worse as the debt ceiling rises further and further up. Instead of just trying to slide through one tough situation, maybe there should be more proactive things done to improve the state of our government and economy.
ReplyDeleteThis is with no doubt because of obamacare. I don't know who could possibly think this is a good idea. WE already have more debt then we can handle, we don't need to allow ourselves to take on more. Instead of putting a bandage on things the government needs to do their jobs and work hard to resolve the debt problem, not allow it to get worse.
ReplyDeleteI completely agree with you, the whole point of a debt ceiling is to prevent us from overspending, but if we have an automatic deb ceiling that rises on its own as we keep spending, the government will have an unlimited possible amount of money they can borrow. I don't think that this idea will realistically happen because of this reason. It could cause a really bad financial problem.
ReplyDeleteI think it is ridiculous to have an adjustable debt ceiling. It isn't a ceiling if you can just move it up more and more as you approach it. Then it is simply a "hopefully we don't go past this point but if we do oh well" type of scenario. The ceiling is to prevent of from going into more debt, not to just be a type of motivation to not spend out of our shoes.
ReplyDeleteI agree with you Thao, the purpose of a debt ceiling is to prevent the government from borrowing too much money. Therefore, the idea of an automatic debt ceiling is stupid because like you said, if it fluctuates, then there really is no limit on the government. This is pointless and would only increase the national debt.
ReplyDeleteAn automatic debt ceiling?! That's absurd in my opinion. It's like enabling the government to keep spending and spending because the debt ceiling will just adjust with each "purchase". I see no good coming out of this at all. Instead of allowing the spending to increase, the government should be working towards ways to decrease the spending and lower the debt.
ReplyDeleteHaving an automatic debt ceiling is a really bad idea. There would be no limits to the amount of money we could borrow and spending would get out of hand. Perhaps the democrats thought of this as a defense in case the republicans try to shut down the government again when the two parties don't agree.
ReplyDeleteThis is honestly the most in-intelligent thing the government could possibly do. It contradicts itself; why is there a debt ceiling if the government can just continue to keep borrowing more and more money from countries?
ReplyDeleteI'm on the same page as everyone else, an automatic debt ceiling is dumb. I'm sure they're not thinking it's a bad thing but I'm having trouble coming to a conclusion why. Like Thao stated, this would just continuously increase the debt ceiling all the time resulting in an even larger debt. Then again, at this point I'm not sure what any more debt could even affect.
ReplyDeleteTerrible idea. It's sort of like having a bank account and just using a debit card over and over and over. The banks calls like, "Hey, there's no more money. Actually jk there is sort of we think. Just keep using your card lawlz we'll figure it out eventually."
ReplyDeleteI think this is a ploy to make it so that the American public isn't constantly reminded of the massive debt politicians continue to run up without looking for any cuts.
I hope no bank ever talks that way.
DeleteI agree, what's the point of having a debt ceiling if its raised every year for the foreseeable future? The government needs to get the deficit under control, and raising the debt limit automatically every year will certainly not provide an incentive for them to do so. While I do tire of seeing the endless debt ceiling debates between the Republicans and Democrats, cutting the deficit is too important to let something like this slip.
ReplyDeleteI agree that it is a horrible idea. The debt keeps going up and instead of making cuts like we need too, they are going to just keep spending more and more money, raising the debt. The complete opposite of what needs to be done. I am really confused how this is even possibility. Did no one in the government think this through. It is like the government is just taking chances, they don't know if we have the money to do this but hey why not see what happens if we do.
ReplyDeleteI agree with the sentiment that everyone else has put forth here. I'm not well versed in this debate, though. What does the government gain from putting an automatic ceiling in place? Is it just so they can spend freely on things that are unnecessary? This is not the direction I want the country to go in. I'm getting stressed just thinking about our ever-increasing debt. I'm not sure if it is even a possibility to not be indebted to other countries, though. Upon looking it up, I found that there are only 4 countries in the entire world that have $0 in debt.
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