K466
07-27-2011, 12:58 PM
I wrote this article (http://tinyurl.com/dont-raise-debt-ceiling)this morning on the debt ceiling. Ron is right again, perhaps a dose of common sense debt ceiling 101 will help the voters. I wish I could reach a wider audience with my Striking at the Root posts. Any ideas welcome.
Don't Raise the Debt Ceiling
Despite the relentless lectures of politicians and pundits, many Americans, including the tea party movement and presidential candidate Ron Paul, don’t want to raise the debt ceiling. In fact, it’s a majority, according to some polls, including Gallup earlier this month:
"Despite agreement among leaders of both sides of the political aisle in Washington that raising the U.S. debt ceiling is necessary, more Americans want their member of Congress to vote against such a bill than for it, 42% vs. 22%, while one-third are unsure."
Each side utters a mix of truth and falsehoods, but in the end, only one side seems to favor the responsible, economically healthy choice. And it’s not Washington, D.C. and the media (surprise!).
What does Default Mean?
A couple of kinds of default are possible:
Not paying the full interest and/or principal on borrowed money
Not paying off all the promises politicians have made to voters, which can occur in two ways:
Cutting actual payments
Printing money
Most of the hysteria suggests that without raising the debt ceiling, Default #1 will automatically occur. This is completely false. Interest payments consume a fraction of government revenues.
Finish Reading Here (http://tinyurl.com/dont-raise-debt-ceiling)
Ron Paul 2012!!!
Don't Raise the Debt Ceiling
Despite the relentless lectures of politicians and pundits, many Americans, including the tea party movement and presidential candidate Ron Paul, don’t want to raise the debt ceiling. In fact, it’s a majority, according to some polls, including Gallup earlier this month:
"Despite agreement among leaders of both sides of the political aisle in Washington that raising the U.S. debt ceiling is necessary, more Americans want their member of Congress to vote against such a bill than for it, 42% vs. 22%, while one-third are unsure."
Each side utters a mix of truth and falsehoods, but in the end, only one side seems to favor the responsible, economically healthy choice. And it’s not Washington, D.C. and the media (surprise!).
What does Default Mean?
A couple of kinds of default are possible:
Not paying the full interest and/or principal on borrowed money
Not paying off all the promises politicians have made to voters, which can occur in two ways:
Cutting actual payments
Printing money
Most of the hysteria suggests that without raising the debt ceiling, Default #1 will automatically occur. This is completely false. Interest payments consume a fraction of government revenues.
Finish Reading Here (http://tinyurl.com/dont-raise-debt-ceiling)
Ron Paul 2012!!!