Skip to comments.SHOULD THE PERMANENT NATIONAL DEBT LIMIT BE CAPPED AT 17.83 TRILLION DOLLARS ?
Posted on 10/08/2013 6:34:52 PM PDT by Graewoulf
The Treaty of Paris, signed on September 3, 1783, ended the American Revolutionary War between Great Britain on one side and the United States of America and its allies on the other.
17.83 Trillion dollars. What a great Patriotic number to make the limit of our Total National Debt that we will agree to pay back, with interest.
When we know, with certainty, our limit of Total Debt, we can then chose either the 10 or 15 % Reduction in TOTAL Federal spending on a year to year basis to get our National Debt back to the pre-TARP National Debt Level.
America will then returned to the Civilized World !
I agree. That's the biggest issue facing this country. And unfortunately neither party is focusing on it. I don't know if they can't figure out the problem, or the solution, or if they are afraid they can't sell the solution.
It's really frustrating that the only politician who has mentioned raising tariffs was RINO Romney, and even he wasn't very serious as he was allowing all kinds of outs for China.
The US actually has a high unemployment rate.
We need jobs.
You will never cap the debt limit as long as the Federal Reserve exists.
They took money out of the hands of the citizens and put it in the hands of the Government and Wall Street. If Government does not have enough money now, or can not pay high interest rates, it simply prints it.
“That’s the biggest issue facing this country. And unfortunately neither party is focusing on it. “
The secret now, that China is much more involved in the world, is to break China’s developing grip and bring back enough American industry to compete.
China used to be our under-developed stepchild.
I got news for everyone: China is now in the global lead.
We need to compete. With China.
Bring back American jobs now.
The problem is trust.
When the Bond Market ceases to trust “the full faith and credit “ of our currently worthless Bonds our spending will be capped, and our National Debt will not be payable, as our dollars too will be worthless.
It should be capped at a much lower leval.If it were up to me I would limit the debt celiling below 16.5 trillion dollars.
if you don’t have the money you don’t spend it.This country can no longer afford to waste tax payer dollars.
If Obama resigned before October 17, 2013, would the “full faith and credit” of Obamanation be restored?
The way to do that, is to raise the import tariffs.
That would give bring the industry back to America.
And China would lose their biggest customer and easy access to the biggest consumer market.
They’d either end up having to pay their own people more in order to create their own consumer market, or they’d be busy trying to figure out how to employ and feed their own people again.
You got my vote.
We need industry.
Here. In America. A lot of industry.
SHOULD THE PERMANENT NATIONAL DEBT LIMIT BE CAPPED AT 17.83 TRILLION DOLLARS ?
Why? not.. it can be changed the way it is always is changed...
And nobody seems to care.. anyway..
American schools have made the people generally DRONES..
Drones working for the collective.. like bees... termites..
or even MOLE RATS... https://www.youtube.com/watch?v=A5DcOEzW1wA
They would turn what industry America still has into another piece of the welfare state. There's simply no need to compete when you have a captive market. There's a reason why the Soviet car industry wasn't the wonder of the world.
Tariffs would also give the Government the ability to choose winners and losers in the domestic marketplace, allowing them to effectively enforce unionization and the rest of their whacked-out agenda
If you hand tariff power to the Government then your most important competitive act suddenly isn't to work better, faster, cheaper - it's to lobby the Government for interventions that suit your company.
Because once you allow Government to place a foot on the hose of production, negotiating with that foot becomes more important than anything else.
Finally - tariffs breach Freedom of Association. Why would we force Americans to buy something they don't want? If a foreign car is better, faster or cheaper than a GM Volt, by what right would we interfere?
If you truly want to bring industry back to America then remove the barriers to industry in America. Capital goes where it is treated best.
Reduce Corporate taxation. Also, simplify taxation. Tax fulfillment costs have become a significant burden on smaller businesses.
Reduce the vast panoply of EPA and other environmental regulations. Companies aren't going to relocate to a country where wood stoves can be declared illegal.
Remove arbitrary, vindictive Government (we all remember Gibson's guitars, I hope).
Get rid of Obamacare. America isn't France. Companies need employees to work more than 29 hours a week, and that's only a small piece of the anti-competitive madness pouring out from Obamacare.
Well, hope this was helpful.
Wrong. American firms competed against other American firms for the first 190 years of our history when we had high tariffs. "Tariffs would also give the Government the ability to choose winners and losers in the domestic marketplace, allowing them to effectively enforce unionization and the rest of their whacked-out agenda "
OH NO! NOT THE UNIONS!!! The government won't be choosing between American companies. They'll just be restoring the tariffs that our founding fathers put in place and that servered us well our first 190 years.
If you really want to teach those unions a lesson off-shore all American jobs!!! That'll teach them. /s
"Finally - tariffs breach Freedom of Association. Why would we force Americans to buy something they don't want? If a foreign car is better, faster or cheaper than a GM Volt, by what right would we interfere?"
Wrong! Tariffs don't prevent you from associating with anyone. Tariffs don't even prevent you from buying anythign foreign. You just have to pay a little more for it.
Our founding fathers saw tariffs as maximizing American freedom because it allowed them to avoid direct taxation on citizens. They saw it as taxing foreign firms who wanted to do business in America. They saw it as a tax that was only paid by people who wanted foreign goods.
At the very least foreign goods should be burdened with a tax rate similar to what domestic manufacturers are burdened with. Plus Foreign goods should also be burdened with all the costs of American unemployment. Only then is the playing field level.
Please, just have one wafer-thin mint, Monsieur. What is one wafer-thin mint added to $17,000,000,000,000?
But its legislature did what they could to enrich themselves from lobbyists and to grow the Federal Government - by introducing tariffs.
Industrialists in the Northern states decided that trying to compete with foreigners was too hard, and that the easiest way forward was to get the Government to force the people of the United States to buy higher-priced tariff-protected domestic goods.
Southern businesses were relatively impoverished because they were forced to pay extra for European goods. The tensions from this price-slavery arguably contributed to the Civil War.
After the Civil War ended tariffs were raised sharply - because the Northern industrialists had got their way through warfare.
The American people were made poorer by the new tariffs - to pay for the bloody war brought on by the economic distortions caused by the original tariffs.
Both before and after the war the Northern industrialists were able to use their protected positions to get rich off their captive populations. Hmm, I'm not sure why you regard this as a win?
"American firms competed against other American firms" - yes, in a restricted class. This is similar to what happens in peewee hockey, womens' football and the Special Olympics. It may be necessary for sports, but its not something to be proud of in business.
Tariffs don't even prevent you from buying anythign foreign. You just have to pay a little more for it.
So tariffs are ok, because businesses don't compete on price? Got it.
What was the last dollar hike in the National Debt Limit?
Was it more than 830 Billion Taxpayer dollars?
Why compete with a communist country with 800 million excess workers willing to work for peanuts if doing so is going to devastate your industries, throw Americans into the unemployment line, increase the national debt, and America more dependent on foreign countries?
We've got the biggest consumer market, let's use it to our advantage and put Americans back to work.
When we are back to full employment, we can talk about when and how to make use of cheap communist labor. But right now we are following an out-of-business strategy that is quickly reducing us to third world status.
The last five are currently being suppressed by Alinskyite politics. But they are not gone. If you bring them back (kicking out the EPA would be a good start) you will regain and retain industries.
And America now has the enormous bonus of 'Eagle Diesel'. That is beginning to make a huge difference. All you guys need to do to flourish is to remove the soft dead hand of Government intervention.
Remove that dead hand. Don't inject it with growth hormone. Don't insist on growing Government intervention by inflicting tariffs on yourselves.
It's good that you mention the American consumers: they will simply not be able to regenerate the economy while their buying power is being crushed by the voracious demands of Government.
The US citizenry need a sharply reduced tax and regulatory burden, just as much as US corporations do. The extreme & arbitrary burden of Obamacare is going to wipe out consumer purchases (just as much it's going to impair capital relocation).
What's crushing their buying power is unemployment. It's almost at 25% according to shadowstats.com.
The unemployment is caused by cheap imports. And there is no end in site to the cheap imports. China has at least 200 million more workers earning less than $1.50 a day that would love to come in from fields to a manufacturing job just as soon as China can import the businesses from the west.
Don't believe the the weekly propaganda put out about China about how they are either about to go bust, banking crisis, wages are rising, etc. It's just propaganda to try to keep us from reacting to their predatory trade tactics.
It's because America has decided to compete with both hands tied behind its back while wrapped in four tonnes of chains.
Remove those chains and America has an excellent chance.
And just to reiterate what I mean by 'chains':
Massive corporate taxation, limitless legal vulnerability, crushing environmental regulation, employee-disrupting Obamacare and pro-Union arbitrary Government: these are why industry chooses to locate away from the USA.
Year on year dollar devaluation due to huge government and punitive healthcare costs/hour cuts due to Obamacare: these are just two reasons why the American middle-class don't have the discretionary spending that they used to have.