Why cant we set the debt ceiling back to 10T and cut until we get there?

simple

 

where do you get the 6 trillion to pay backs those bonds?

 

You print it stupid.

Of course, this would wipe out the rainforests across the globe but hey, it's for a good cause.

 

Fiscal restraint?

I see we have a ********* here folks. Where do we get these nutters?

 

print it weakens the the dollar which creates bigger problems stupid

 

Stupid? I"ll have you know that President Obama is far smarter than you my friend. It's just a good thing he is in control and not you. Otherwise you would be wasting your time trying to balance your check book and living within your means. That's just not the progressive way.

 

You can give me all the thumbs down you wish, but it will not change the truth which is that we must spend our way into prosperity. Any economic expert worth their Keynesian salt will tell you as much.

 

frmo thsi years gdp wen i cut and spending is surplus

 

Because we learned some lessons from Herbert Hoover. Who btw was maybe the worst President of the 20th century until GWB came along to rival him for that title.

 

Amen my Keynesian brother. These fools don't realize that printing trillions of dollars a year is what is key to economic prosperity. In fact, without the stimulus package by President Obama, we would all be eating out of garbage cans right now.

 

so it is okay to sell bonds to so cal print money and then just dont pay them back? or do you just believe that the phrase printing money really means printing money... because it doesnt really mean that..they borrow not really print it

 

What I don't understand is why the Fed does not just print another $20 trillion and really get the economy moving.

Any ideas?

 

do you know who holds most of those 16 trillion dollar bonds?

 

180 degree wrong

 

Not true. In fact, I've started doing this myself. I just charge everything and am living high on the hog.

Losers.

 

Or raise taxes all across the board until we get there. Simple.

 

Im assuming the OP is a rhetorical question. The answer is that in order to set the debt ceiling at 10 trillion dollars and mostly cut but also increase taxes to stay under that ceiling, the Democrats and the Republicans (who have quite different agendas) would have to both cooperate and compromise and annoy many voters (the cuts have to come from somewhere) while only doing what was right. Do you think integrity and true patriotism is really going to win out over partisanship, self-interest and gamesmanship?

 

from 15T GDP and 3T surplus from cuts

 

well cuz thats = 2008 again x4

 

Could reduce spending on some or perhaps even ALL programs to the point the budget is less than the revenues collected and use the excess revenues to pay down the debt.

 

Have the treasury strike 6 One Trillion Dollar coins, and deposit them in the Federal reserve bank.....

 

thats a brilliant idea ..sounds like a really stuiud liberal response...no wonder why you people have very little assests

 

It's an idea that has the advantage of being perfectly legal under existing law.
Do you have a better answer?

Because if you don't like the coin Idea then you're stuck with the debt.
You could change it from interest bearing debt to non-interest bearing debt, but it would still be debt.
You might not pay it off quickly , but you could run a run a budget surplus.
You could cut a trillion a year out of the federal budget. Sub out defense to China, get creative.
You could raise taxes a trillion a year, very doable, if you focused on a certain segment of society.
That would handle the debt in 20 years....

 

you pay back the bond holders under the agreement that you contracted with..but you quit raising the debt..and selling more bonds to pay off the older bonds is not an option either..this is what the government does now..

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and bonds should be amortized so the principle is paid back by the time the bond is completed..

 

Then where does the money come from?
I suggested a way to bring in sufficient funds, and generate a surplus that would eliminate the debt in 20 years.
Add a trillion a year in taxes, a 2% tax on net worth over a million would do it.
Cut a trillion a year in expenses by subbing out defense to China, privatizing everything except the Post Office, Social Security and Medicaid and the IRS.

And now you have the cash flow to pay off that debt in 20 years.