Paying more taxes to government is like giving heroin to a heroin addict.
“If it doesn’t, the United States risks defaulting on its payments to creditors.”
Any countries that lend money to the USA when it is bankrupt with almost $90 trillion in unfunded mandates, which is 550% of its GDP, deserve to lose its money. The USA is like the welfare class who bought houses when they had no money, and it will collapse just as the housing fiasco collapsed.
The sky is the limit.
If the debt ceiling is not raised, the US will not have to default. The US will have to have a balanced budget.
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure.” - Barack Hussein Obama 2006
Stop the clock. Reverse the clock.
Socialism Is Legal Plunder - Bastiat
Pay, pensions and perks of all legislators past and present rescinded until the debt is paid off and a surplus clock starts ticking.
—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.
LOL! Let me see if I understand this correctly. There is a date certain after which our creditors will be told we “can’t make the payment”? Really? Being as our “creditor” is The Fed who has been printing funny papers which have been bought by the US Treasury it seems about as serious as Dad trying to get back the advance on allowance he already knows I spent taking Becky Sue to the dance. What we should be telling our creditors is something more like “pound sand”. Those debts were run up by an illegitimate impostor claiming authority he did not have. The biggest “Identity Theft” of all.
The proper thing for Congress to do is to ignore the fiscal cliff and then refuse to raise the debt ceiling. We can confront these problems now, or deal with much worse later.
Starve the Beast.
Rumor has it that Turbo Tax cheat Timmy is already dipping into the federal retirement funds. Which would explain why the debt ceiling has not already hit the limit as it was expected to do some time ago.
The problem with that will be that they won’t have as much to work with when the official numbers do reach the ceiling.