WN: Angry Tea Party Stirring up GOP Revolt - NewsMax

[anitarose]

I shudder to think what would happen to this country if China happens to call in the notes that the US owes them......

[SavedByGrace1980]

I've been told that the government takes in about 200 billion per year and has 20 billion in debt obligations. Can anyone substantiate that???

If it is so, then we don't have a revenue problem at all...we have a spending problem. If the Democrats don't take that seriously, and the threat of default is the ONLY thing they will take seriously, then I say let the chips (and the dollar) fall where it may.

It's a horrible alternative to what could be done if they would only take it seriously. It is hypocritical and disingenious for the Democrats to blame Republicans for the way our debt has quadrupled under their watch, and for Obama to just now start taking negotiations seriously and then pressuring everyone about how late it is.

It will be a catastrophe if they don't come to an agreement, but a worse catastrophe if they don't come to a solution.

Congress has the power of the purse. Congress has been controlled by Republicans since the last election.

You know what? You're right.

I think the Republicans should change their tactics and just say "Mr President, you're right. How much would you like the debt ceiling raised?"

There's no problem. Nope. None at all.

Blessings!

-Ed

[Leonard]

Well, if we DO default on our debt service, and our bonds go to 'junk' status (or worse), at least no one will loan us any more money, and Congress will HAVE to balance the budget!

[other one]

I shudder to think what would happen to this country if China happens to call in the notes that the US owes them......

We'll just print up a trillion dollars and give it to them for their cd's...... much like we've been doing for the past year. Actually we won't even print it, just tell the computer systems that it there and it's china's.

[other one]

Well, if we DO default on our debt service, and our bonds go to 'junk' status (or worse), at least no one will loan us any more money, and Congress will HAVE to balance the budget!

The Federal Reserve Banks will loan us the monty........ that's the way the system works

[Guest]

Would even accept means testing, though it is unfair.

How is it unfair? If you receive $100,000 a year from your savings, and can afford or already have medical insurance, why should the government pay you a penny? You don't need it to survive. Why would you even want Medicare? There are people out here who don't go to the food bank to supplement their food stuffs because they know that there are others who's very lives depend on the banks. If someone doesn't need government services, they should not take them. But because Americans are so greedy and selfish and so "entitled" because they paid into the system all their working lives, that they don't even think of the needs of their neighbors. Not all are like this, of course. And then there are the socialist "progressives" who exceed even the average American's selfishness.

[Guest shiloh357]

Let the chips fall as they may. You can't keep doing the same things over and over and expect a different outcome. It was the Dems who passed the stimulus bill, spending trillions on "shovel ready" projects that weren't so shovel ready, bailed out the unions at the expense of the share holders, failed to create or save millions of jobs, and those that they did cost the taxpayers hundreds of thousands of dollars per job. And let's not forget Fannie Mae and Fannie Mac. How many billions of dollars has the socialist government of Barack Obama thrown away with these thieves? I know that the previous administrations all had a hand in this, but it was the Dems who have totally destroyed our economy. I say let them feel the sting and reap what they have sown. We are in a hole so deep that there is now daylight to be seen!

Keep in mind the stimulus bill was about 36% tax cuts.

Which doesn't really matter when the money is spent on other programs and is not used to pay down the debt. The reps and dems all share the blame where that is concerned.

[Believer112]

The system is broke. Spend spend spend!

EPA Gives Millions In Foreign Handouts

link

[Burning_Ember]

Which doesn't really matter when the money is spent on other programs and is not used to pay down the debt. The reps and dems all share the blame where that is concerned.

Both tax cuts and spending increases get the US closer to the event horizon where the debt will not be able to be solved.

[Guest shiloh357]

Which doesn't really matter when the money is spent on other programs and is not used to pay down the debt. The reps and dems all share the blame where that is concerned.

Both tax cuts and spending increases get the US closer to the event horizon where the debt will not be able to be solved.

The richest 1% ( 1.4 million individual or households) pay 22.7% of all federal taxes in the US according to the Urban Institute-Brookings Institution Tax Policy Center. The average American pays the equivalent of three month's salary in taxes which makes up the other 77.3%. This is already a very top-heavy tax burden where 1% carry nearly 1/4 of the tax load in this country. Raising their taxes will not generate sufficient revenue. And when you consider that in some cases, because of earned income credit, many households pay no taxes at all, but receive refunds in the thousands. So raising taxes on the rich (who are the ones who create jobs) will not only not bring in all that much revenue (since the the amount paid in refunds outstrips what is paid in).

Spending reform, as well as cutting out waste and fraud and tax loopholes for the very rich are a good first step. We need to reduce and in some cases, eliminate foreign aid across the board, especially to countries who work against our interests. We have people on Welfare that don't deserve it. We have illegal aliens on Social Security and they don't deserve it, as they do not contribute to it. We have people drawing food stamps who don't deserve them.

We need to put more Amreicans back to work, which means that businesses should be forced to hire Americans to fill jobs being done by migrant, illegal workers and to eliminate the hiring of migrants. If we stopped hiring illegals and we put an end to the anchor baby law, and their free social scurity, the illegals would be more likely to self-deport.

America is not here to serve the world. Living in America is a privilge, not an entitlement. Put more American people back to work, and you have more taxpayers and a larger tax base. Reduce the number of babies falling victim to abortion and adopt them out to good parents and in a short time, we will have more potential taxpayers. If we had not aborted 58 million babies since 1973, we would have millions of potential taxpayers entrepeneurs and business owners, even if you allow for those who will either be homelss in prison or to infirmed to work. We would have a much bigger tax base and the bigger tax base, you can afford lower taxes. When we have more jobs, more people spend, which provides a favorable environment for more business growth, which means more jobs and thus more tax revenue generated.

The problem is that too many people don't think outside the box. There are myriad of things we can do to shore up more money, reform spending and bring down the debt. It means we have to stop thinking like politicians.