Wagging the Dog
 

Resolved: Regardless of what one believes about the solution, threatening default on U.S. debt by treating the raising of the debt ceiling as conditioned on political demands creates uncertainty and contributes to the present down trend in economic indicators particularly in the financial sector.

Resolved: This trend, insofar as it is influenced by market uncertainty owing to the highly politicized budget debate characterized by unrealistic thinking geared to elections rather than economic policy, will intensify until and unless the debt ceiling is raised.

Resolved: Ultimately, taking the debt ceiling game to its crescendo and refusing to pay obligations due will result in skyrocketing borrowing costs at both the national and the personal level.

Discuss.

PFnV

Re: Wagging the Dog
 

playing chicken with our future........in front of a big train that will make a mess out of everything.

but then again, it could be the exact thing that our culture needs in order to shift us away from a consumer-based economy to a happiness-based one

we as a people need to stop counting on instant gratification as a means of long term happiness

Re: Wagging the Dog
 

They need to get spending cuts and entitlement reform as part of the deal. The cuts are always promised for the future while the deficit spending and tax increases happen right away.


Guess what the promised spending cuts never happen we have seen this game played for years (cue the who 'won't get fooled again') the people who want to reduce have a leverage point they must use it.

The Treasury is bringing in ~160B per month. That will cover SS, Medicare and the Military budget and interest on the debt. Do that and then decide what else to spend the remainder on and start sending out pink slips.

Re: Wagging the Dog
 

the loopholes for the top 1% of American wage-earners need to be closed.

sorry, there should be no ability to make deductions from gross income earned above 1M

Re: Wagging the Dog
 

That is chump change. A Flat Tax would be better.

Re: Wagging the Dog
 

exactly, but you'd be amazed at how much revenue my idea would generate.....its not as chump change as you think.... hell, lower it down to 250K for individuals....if you can't make a go of it on that, then tough cookies

Re: Wagging the Dog
 

We could tax the top1% at 100% and still run a huge deficit, btw who invest to create new enterprises or expand existing business?

Re: Wagging the Dog
 

this is the same excuse you hear all the time......differentiate between personal corporate income........reinvestment comes off the bottom line.....but not stock options

BTW, I'm in that club (or close to it)

you'd be suprised how little people at the top give a crap about the people who make the money for them........greed is literally the root of all evil today

Re: Wagging the Dog
 

Who doing it now?

Re: Wagging the Dog
 

No one due to the current business environment. Too bad the government is making it so hard on business.