Can any Obama lover explain how raising debt ceiling is good thing?
In short, it means increasing debt is a good thing. Explain how? The debt has to be paid by someone. It is likely going to be your children or grand children, because YOU sure will NOT pay this debt but pass it on to the future. High levels of debt as you know is never a good thing. As a consumer your credit score falls and you get denied loans, low APR for car payments and perhaps even a job ( if credit check done by employers reveals bad score due to sky high debt). Most employers see a candidate with high debt irresponsible and not worthy of hiring. Then how do you see high debt as good thing? If its not paid, guess what -- inflation and higher taxes is the consequence. Obama himself said in 2006 - "The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better." And just in case if you say, "Bush did it too" then let me make it clear, I am not a Bush fan and agree he was disastrous and failure. The question is about Obama only. NOT Bush! Mark: LEARN to live WITHIN your means. This is what led to the financial crisis and economic downturn in the first place -- people living beyond their means. Show fiscal discipline. Mark: Now answer this question Quizer: Is this truly the best you can come up with? You know you are tempting me to put you on block Rutherford: So you should get -10 points now, because of "not an answer". Guaranteed Please report Quizer, Mark and Rutherford for "not an answer". Yes this is a violation of yahoo answers guidelines. It is guaranteed -10 point penalty, only if people report living dead girl: you know it you dodged the question. Question is NOT about PAST presidents. It is WHY do Obama supporters see raising debt ceiling as GOOD THING. I have yet to see just ONE such answer from them. So far there is none I knew it ZERO answers from Obama base that properly addresses the question. NONE. Alexander: Told you I am not a Bush fan. Yet you accused me despite it. BLOCKED! living dead girl: I thought Obama was an agent of CHANGE. He said he will CHANGE the way Washington works. So now you admit he is just the same like the rest. No wonder, you can never rationalize the mindset of a liberal Alexander: So paying debt with more debt, eh? IDIOT. Good you're on block list too Alexander: Nice, I am a racist if I oppose Obama. This is quite a weapon you guys have. Impressive! Alexander: You get the worst answer award. I wish yahoo had this feature too As individuals we fight very hard to get rid of debt that is upon us. We put up every last bit of whatever we have to be debt free. We even go to lengths like failing bankruptcy. Nobody wants more debt on him or her. This is one thing everyone agrees with. I wholeheartedly agree with Obama's 2006 comment. living dead girl: you have not provided a rebuttal to my additional points. What's stopping you? Haven't put you on block. living dead: Okay. So paying debt with more debt is the answer? How on earth is that possible? If I have a bank loan to pay and cannot pay, I take a loan from another bank to pay the previous loan. And then from yet another bank to pay the new loan. You know where this leads to -- BANKRUPTCY. As a nation this is why we have such high debt load. All presidents have done nothing but passed it to future presidents or generations. It is YOUR children and grandchildren that will have to pay it. i have no children and won't ever produce them the way the things are going for the nation. I wouldn't want to bury them in high debt, job scarcity and unemployment after graduating college with 50,000+ student loan. So definitely its passed to your children then. living dead: As last point, what's absurd is the idea of "paying debt with more debt". That's what ABSURD is. living dead: Got you cornered finally. No way you can stand on a leg now
Asked By: Healthy Happy Pup - 1/16/2013
Best Answer - Chosen by Asker
They've been raising the debt ceiling since it was Inacted in 1917. The debt ceiling has been raised 74 times since March 1962,including 18 times under Ronald Reagan, eight times under Bill Clinton, seven times under George W. Bush and three times (to August 2011) under Barack Obama... More
Answered By: living dead girl - 1/16/2013
Additional Answers (11)
so they don't bump their head?
Answered By: Frijid Blue - 1/16/2013
OK then, what happens if the debt ceiling isn't raised?
Answered By: Mark F - 1/16/2013
They need to raise the debt ceiling so we can pay our debts, apparently. That doesn't really make much sense. Why not stop borrowing and stop spending so much of what we take in, and use the remainder to pay our debts?
Answered By: Frankie - 1/16/2013
paying ones debts is always a good thing
Answered By: StephenG - 1/16/2013
It means paying for spending ALREADY AUTHORIZED not new debt.
Answered By: Master Chief - 1/16/2013
Demcraps = Spend spend spend + tax tax tax = more welfare for our nations best resource... ( Them lazy welfare bums breeding more democraps)
Answered By: Typical Liberal - 1/16/2013
Apparently, we need it to "pay our debts." Which, doesn't really make sense to me. When you don't have enough money to pay off your credit card, do you just charge the bill to another credit card and forget about it?
Answered By: Obama is Bush but Worse - 1/16/2013
In all honesty, NO! They can't give an actual good reason. But I'm sure they're gonna try... More
Answered By: flyboy - 1/16/2013
Since the tax cuts caused this mess, why not raise taxes back like they were when Clinton was in office and adjust them for inflation. Then we wouldn`t have to have this discussion and all would be in surplus and keep conservatives from barking up our trees like junk yard dogs..
Answered By: Hnst abe - 1/16/2013
Obama is trying to pay off all of the debt left behind by your bush and republican allies. How come you guys were not screaming about the Debt. ceiling when bush was in office. seems strange? we have not encountered any problem with this until a African-American became President, maybe because he is black?
Answered By: Alexander Thompson - 1/16/2013
High levels of debt is indeed not a good thing. But that's what we've got. It's bad enough to have the debt. It's even worse, and on a much larger scale, not to pay it. The US can not just wait seven years for the Sears account to fall off of their credit report. You can argue effectively against the reasons we have so... More
Answered By: Tod - 1/16/2013
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