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Thread: How to Freeze the Debt Ceiling Without Risking Default

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    jviehe is offline Citizen
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    How to Freeze the Debt Ceiling Without Risking Default

    Good article pointing out the obvious. The govt takes in more than enough to pay out bond responsibilities. You simply stop paying for other areas of govt. This means real cuts in entitlements, defense, and other discretionary spending. Its a win win.

    In fact, if Congress refuses to raise the debt ceiling, the federal government will still have far more than enough money to fully service our debt. Next year, for instance, about 6.5% of all projected federal government expenditures will go to interest on our debt, and tax revenue is projected to cover about 67% of all government expenditures. With roughly 10 times more income than needed to honor our debt obligations, why would we ever default?

    To make absolutely sure, I intend to introduce legislation that would require the Treasury to make interest payments on our debt its first priority in the event that the debt ceiling is not raised. This would not only ensure the continued confidence of investors at home and abroad, but would enable us to have an honest debate about the consequences of our eventual decision about the debt ceiling.
    http://online.wsj.com/article/SB1000...pinion_LEADTop

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Let's start with cutting off the South. Seems like a win/win, since they're the source of much of our deficit anyway.

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    RRAHH is offline Secretary of Defense
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    Post Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by pramjockey View Post
    Let's start with cutting off the South. Seems like a win/win, since they're the source of much of our deficit anyway.
    Wait... what?

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by pramjockey View Post
    Let's start with cutting off the South. Seems like a win/win, since they're the source of much of our deficit anyway.
    Racist,,Anti-dentite Northerner

    To answer question posed, I have one word:

    HYPERINFLATION (better than default)

    Or force California to secede,,,let the leftists form a new nation and ship all libs there.

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by pramjockey View Post
    Let's start with cutting off the South. Seems like a win/win, since they're the source of much of our deficit anyway.
    I recall from the 2009 pubs of the Census reports on Federal Government Expenditures, per capita, by State not agreeing with your statement. Virgina may top the list but followed by Maryland, Alaska, Kentucky, New Mexico, Hawaii, North Dakota, Wyoming, Connecticut and Massachusetts being the top 10.

    Define for us where you get your information or your assumption of "the South." There may be a more recent analysis but I did not find it just yet.

    http://www.census.gov/prod/2009pubs/cffr-08.pdf
    - Frustrated Independent

    "They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people.” - Penn Jillette amazingly enough, and I agree.

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by Sluggo View Post
    I recall from the 2009 pubs of the Census reports on Federal Government Expenditures, per capita, by State not agreeing with your statement. Virgina may top the list but followed by Maryland, Alaska, Kentucky, New Mexico, Hawaii, North Dakota, Wyoming, Connecticut and Massachusetts being the top 10.

    Define for us where you get your information or your assumption of "the South." There may be a more recent analysis but I did not find it just yet.

    http://www.census.gov/prod/2009pubs/cffr-08.pdf
    It's an analysis of net federal tax revenues vs. expenditures. "Red" states generally consume more federal dollars than they produce. "Blue" states generally produce more federal dollars than they consume. The South is crimson. Thus, removing the South would result in a significant reduction in our debt problem.

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    Sluggo is offline Secretary of State
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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by pramjockey View Post
    It's an analysis of net federal tax revenues vs. expenditures. "Red" states generally consume more federal dollars than they produce. "Blue" states generally produce more federal dollars than they consume. The South is crimson. Thus, removing the South would result in a significant reduction in our debt problem.
    Where is that data or did I miss it in this report?
    - Frustrated Independent

    "They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by Sluggo View Post
    Where is that data or did I miss it in this report?
    I'll have to see if I can track it down again.

    Edit: Start here:

    http://voices.washingtonpost.com/ezr...te_ripoff.html
    Last edited by pramjockey; 01-19-2011 at 04:21 PM.

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by pramjockey View Post
    I'll have to see if I can track it down again.

    Edit: Start here:

    Ezra Klein - The red state ripoff
    Im ok with that. Lets cut social program benefits to those in the south. What else?

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by pramjockey View Post
    I'll have to see if I can track it down again.

    Edit: Start here:

    Ezra Klein - The red state ripoff
    Off that map alone your comment still does not make much sense. It seems like we need to cut off the South, most of the East, just about all of the middle states, Hawaii, and Alaska.

    Ok, so your plan is just a start then.
    - Frustrated Independent

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    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people.” - Penn Jillette amazingly enough, and I agree.

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    jviehe is offline Citizen
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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by Sluggo View Post
    Off that map alone your comment still does not make much sense. It seems like we need to cut off the South, most of the East, just about all of the middle states, Hawaii, and Alaska.

    Ok, so your plan is just a start then.
    And a good one. Exactly what conservatives have been arguing, less govt. Wherever that happens is fine by me. I would be surprised if the facts back this graph though, in that conservative areas recieve more tax dollars than liberal ones. You have to split it by urban and rural though. I know for a fact that I pay more into taxes than I get in benefits. Far more. I suspect thats true for most conservatives. Of course I live in a liberal city, so its quite possible my city recieves more dollars than it puts in.

    Perhaps the voting simply doesnt reflect who lives in those states. Maybe conservatives vote more, while their states recieve more tax dollars. Given 2/3 of the budget is medicare and social security, and those programs arent exactly voluntary, not to mention apply to people who move, I could see how this graph basically says nothing at all. Its a meaningless statistic.

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by jviehe View Post
    And a good one. Exactly what conservatives have been arguing, less govt. Wherever that happens is fine by me. I would be surprised if the facts back this graph though, in that conservative areas recieve more tax dollars than liberal ones. You have to split it by urban and rural though. I know for a fact that I pay more into taxes than I get in benefits. Far more. I suspect thats true for most conservatives. Of course I live in a liberal city, so its quite possible my city recieves more dollars than it puts in.

    Perhaps the voting simply doesnt reflect who lives in those states. Maybe conservatives vote more, while their states recieve more tax dollars. Given 2/3 of the budget is medicare and social security, and those programs arent exactly voluntary, not to mention apply to people who move, I could see how this graph basically says nothing at all. Its a meaningless statistic.
    Actually, jviehe, it makes perfect sense. Look at where tax dollars are spent. Farm subsidies. Energy subsidies. Defense. Many dollars to rural areas and red states. Retirees. Red states in the South. It's pretty intuitive.

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Just tax the god-damned religions that are tax free.
    to live is to suffer-Fritz lang

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    Re: How to Freeze the Debt Ceiling Without Risking Default

    Quote Originally Posted by pramjockey View Post
    Let's start with cutting off the South. Seems like a win/win, since they're the source of much of our deficit anyway.
    I love this plan. Oh and do without our revenue too. We're good with that.
    A is A

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