Debt ceiling / debt limit thread, blow by blow reports please

[free1]

Please post any relevant information about what's going on.

Today the NEWS media was all over the place asking questions of Congress members.

Compromise?
Republican budget chief, Paul Ryan, says "I'm only interested in raising the debt ceiling if we get concessions on spending, on real controls to get our fiscal situation turned around and headed in the right direction"

Rand Paul... "If we raise the debt ceiling, (we) ask that it be linked to something," Rand said on ABC's "Good Morning America" program. "You have to link it, say, to the future -- that from here on out, we're going to balance the budget."

I heard a lot of them saying they have two months to get spending down and that might just prevent them from having to raise the debt. I hope so! Cut and slash!

[Elwar]

A debt ceiling of zero is what we need to be looking at.

Balance the budget and you don't have to worry about raising it.

[VBRonPaulFan]

A debt ceiling of zero is what we need to be looking at.

Balance the budget and you don't have to worry about raising it.

that's just totally unrealistic... there are going to be certain times where the government might need to borrow money, just like a business. but it should be the rarity, definitely not the norm.

[truthspeaker]

Is anyone else alarmed by the "debt fall out day" mentioned in the Cavuto interview. FEB 23rd!!!

How big of a problem will this be? Should we be alarmed?

Are we talking dollar fall (or even collapse) here?

I know I'm asking like the "sky-is-falling" but you know the market will react that way no matter what is decided. Especially backlashing against stock with major gov't contracts.

And what about the money other nations owe us? Is that even enough to cover out debt?

[TCE]

Is anyone else alarmed by the "debt fall out day" mentioned in the Cavuto interview. FEB 23rd!!!

How big of a problem will this be? Should we be alarmed?

Are we talking dollar fall (or even collapse) here?

I know I'm asking like the "sky-is-falling" but you know the market will react that way no matter what is decided. Especially backlashing against stock with major gov't contracts.

And what about the money other nations owe us? Is that even enough to cover out debt?

I'm guessing that would be when we have to borrow over the debt ceiling amount. Don't worry, the Republicans and Democrats will work together to make sure the debt ceiling is raised. I wonder who had a sig that predicted such bipartisanship...

[QueenB4Liberty]

A debt ceiling of zero is what we need to be looking at.

Balance the budget and you don't have to worry about raising it.


Yeah this would be nice, but I don't see it happening.

[truthspeaker]

Okay. I feel a little bit better. But still--this is disconcerting.

[TCE]

Okay. I feel a little bit better. But still--this is disconcerting.

I researched it a little more and yes, that is the date they expect to be forced to raise the debt ceiling by. It will likely be passed well before then. It's not worth concerning oneself, seriously, I am extremely confident this will get raised. John Boehner is already pushing for it, so that covers the House since all Democrats will be voting for it, save a few. In the Senate, it is still Democratically controlled, and since Obama wants it raised, it will be raised.

[fgd]

Rand was on record as not voting for the debt ceiling yesterday.

Then today he says he would vote for it "one time" if there was a balanced budget rule attached. RULE. Not even a law, just a pesky rule.

I feel conned.

[Slutter McGee]

Rand was on record as not voting for the debt ceiling yesterday.

Then today he says he would vote for it "one time" if there was a balanced budget rule attached. RULE. Not even a law, just a pesky rule.

I feel conned.

Dear Lord. Captain Picard.

Slutter McGee

[Pericles]

Rand was on record as not voting for the debt ceiling yesterday.

Then today he says he would vote for it "one time" if there was a balanced budget rule attached. RULE. Not even a law, just a pesky rule.

I feel conned.

Google Gramm-Rudman-Hollings Act. Laws can be changed just as easily as rules.

[free1]

What good is a "ceiling" if you always raise it?

I hope they only give them enough for a couple months, while they slash everything. By then there will be no need to raise it.