sgk2211 - 7:38 AM "The poor are the majority of the American people, and the lender is mostly China."
It would be nice if people would quit spreading that crap.
China holds only 8% of the debt, little more than that held by Japan. If fact, it is expected that Japan will over take China in their holdings very soon.
Of the $14.3 trillion in debt, $9.8 trillion is held by the American people and the government.
United Kingdom, owns $347 billion; Brazil holds $211 billion; Taiwan, holds $153 billion; and Hong Kong, owns $122 billion.
There are actually more countries, i.e., Saudi Arabia, and other eastern countries.
Why don't you first LEARN THE TRUTH before you make such broad statements.
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To better understand the term Fiscal Cliff", whenever you see it, replace those words with "Financial Irresponsibility".
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Just want to say, Thank you to the TEA PARTY for destroying the Republican party! Keep up the good work and remember to keep saying what Nancy Reagan said, "JUST SAY NO"!
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D. Let the tax cuts expire.
Just a foot note: Prov.22:7 says; "The rich rule over the poor, and the borrower is servant to the lender." The poor are the majority of the American people, and the lender is mostly China. Also something to think about: As the politicians ride in their choffer driven limos to make laws about how they can take more of our hard earned money, we can bearly afford to pay our bills; and they want to take more and go deeper in debt. Do you know that the politicians are getting a raise this year? Did you? Is your pay check the same, larger, or smaller than the last one of 2012? And why would people on Soc. Security and the military be threatened with a hold up on their checks if an agreement wasn't reach concerning the CLIFF; when there was no mention of those on welfare?
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Print the trillion dollar coin!
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46&2 What world are you living in? Unions are not the backbone of the middle class. The Democrates are noted for their spending what they don't have; and then barrowing or raising taxes to spend more. Maybe you live above your means, and that is why you think the government should, but debt is what has put individuals and this country into bankrupcy. Provide a budget and stick to it. Stop spending what we don't have. Stop taking from those who do work to give to those who REFUSE to work. Start living according to our constitution and laws that are on the books, instead of making up new ones to suit ones self. Eventually you will see the destruction cause with such an attitude. People, including the government should live withing their means. If all that the politicians require of the tax payers and hard workers applied to them, they wouldn't be so quick to spend what they don't have. Ask yourself, who will they barrow from? China? check to see who really owns the USA?
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It has been estimated that to feed the planets starving it would cost 30 billion dollars per year. Meanwhile, the US and other nations around the world combined spend that amount every 8 days on military budgets.
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The conservative economic agenda has been successful in nearly eliminating private sector pensions and benefits, so now they go after the "outrage" that public sector employees enjoy such lavish perks. Shame on the vampire capitalists of the right. You have destroyed the American middle class. Every time you lash out and attack unions, you are destroying the backbone of the middle class. You may never admit it, but that is the truth.
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The debt limit is something that absolutely has to be raised because the alternative is not paying our bills. It is not so we can incur new debt. The full faith and credit of the US Government is at stake and shame on any political philosophy which plays silly hostage spending games with the issue.
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The more practical solution is to cut pensions and life time benefits from new fed and state employees. They don't exist in the private sector because doing so would bankrupt them all. Those companies cannot raise their debt ceiling so they can over spend. We will never see real senior or healthcare reform until politicians live in the same world as the rest of us.
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I'm confused, if there is a debt limit how can one operate so far above it? How too can the Gov fail to provide a budget required by law and perform against it? By failing to operate against a budget there are absolutely no fiscal constraints. Sadly, because of this, votes are purchased with financial resources of future generations. Shame on our polititions.
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