LETTER TO THE EDITOR: Time to get a budget deal done

Jul 18, 2011

 

Now the Republican House of Representatives won’t pass the debt-ceiling increase needed just to keep the country running, paying the troops serving the U.S. in the two wars they started, paying for Social Security folks have already funded, etc., and won’t rescind the tax increase for the rich, an action which might in and of itself make the deb-ceiling increase unnecessary.

Tax cuts for the rich are to continue while across our land spending cuts are already eliminating positions for people who teach our kids, good local government projects, and other benefits for us average middle class citizens.

If the House Republicans won’t pass the debt-ceiling increase by the Aug. 2 deadline, our government won’t be able to borrow and will cease to function. Any stock holdings you have will surely tank in addition to the many other cataclysmic happenings that will follow, so you may want to contact our Republican representative in the House and urge him to vote “yes” on any reasonable settlement.

— John Hoermann, Grand Haven
 

Comments

T-Bone

John:

You should really check into the real facts before posting these lies.

The federal government takes in about $200 billion per month. This revenue is from the tax-paying Americans and will not cease to be coming even if no debt ceiling raising is forthcoming. The core spending items per month are as follows:

Interest on the national debt: $29 billion

Social Security: $49.2 billion

Medicare and Medicaid: $50 billion

Active duty military pay: $2.9 billion

Veterans affairs programs: $2.9 billion

Education funding: $11 billion

All of that core spending adds up to $145 billion, which means that in the event of a debt limit, the government can pay it all and still have $55 billion a month left over.

These are the simple facts. You should stop parroting the Democrats' talking points and do some real research before spouting the scare tactics they are using to deceive Americans. I think there should be no debt ceiling raising and let Americans have a Y2K moment on August 2nd when they wake up and realize the world didn't end because it wasn't raised. "This is what we got all freaked out about? Boy, talk about a big nothing."

I. Trollu

Good idea. Our economy would probably get a boost from defaulting. Standard & Poors, a credit rating agency who may have some importance and could in fact downgrade our debt (no worries, right?!) if this happens, said that defaulting could quickly put us back into a recession. But why believe them? What do they know?

Why not take risks with an already delicate economy? T-Bone, you got it down straight. Buncha liberal propaganda if you ask me

T-Bone

You mean the same S&P that didn't see the financial meltdown coming in 2008? That S&P? So they say it "could quickly put us back in a recession"? The fearmongering from the administration and congressional leaders reminds me of the same thing they did with the TARP. We all know how that turned out. Wall Street and the banks got billions and sat on it except to pay out their millions in bonuses to the very same executives who caused the whole debacle. I even saw today that President Obama is considering an extension to the Aug. 2nd deadline. Huh??? If it's that critical to the economy's well-being, why would that proposition be on the table? This also reminds me of the Stimulus fearmongering. Unemployment was supposed to stay at 8% or under. We have seen how that turned out to be a big lie. So yeah, maybe we should take our chances with default. It may be just as good a bet as anything else we've seen in the recent past. Good luck!

I. Trollu

A) It doesn't matter what S&P did or did not see in '08 (not many people predicted that one). If they downgrade the US debt, that is not a good thing. This isn't confusing B) While I'm not here to argue about TARP, you do realize this happened under the GOP, correct? And while the overall results of the TARP plan are still to be determined, having the major investment banks fail would have been a disaster. You can pretend otherwise, and trust me the greed, lack of regulation and overall stupidity of the situation is mind-boggling, but it's true C) What does the stimulus have to do with this? Other than to be another conservative talking-point? Cheers!

I. Trollu

double post

T-Bone

In reply to ITrollU:

I don't disagree that downgrading our debt would not be good. I'm just saying I don't believe it will the catastrophe that it is being made out to be. The government will still be taking in the money each month to cover paying the troops and SS recipients. There should be no disruption to this as is being bantered about. I DO remember very well that it was the Bush administration that developed the TARP program. I wasn't a big fan of Bush or this program as it occurred to me then that bailing out these thieves would just lead to more of the same from them down the line. There was no punishment, no consequences to them for their actions. And it really burned me up to see exactly what I was concerned with occur - those big bonuses for themselves like nothing happened. As to my mentioning the stimulus, it is not about the stimulus itself, but I am making the point that the same fearmongering tactics used to get it passed are being employed here. I don't believe anyone can predict what will happen if the debt limit is not raised in time. And the government has shown they are no Amazing Kreshkins when it comes to forecasting anything. I am getting very sick of hearing how unemployment rose more or the economy grew less "than expected". No conservative talking point (I am an independent). Just showing that the tactics used are the same. Thanks for the lively debate.

snlfan

I.Trollu 1 / T-bone 0

T-Bone

Don't quit your day job (if you have one) Captn Pea(brain). Scorekeeping is obviously not your forte in life. Thanks.

snlfan

So let me get this straight...

On the discussion I observe that the opinion counter to yours seems to be better presented and hence leads 1 to 0. Your rebuttal to this is to attempt to insinuate that I am not employed and have a brain the size of a pea?

Please tell me you have something more to say than that. Like why do you think that you side of the argument was presented better?

 

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