Beyond the Headlines: Understanding the Debt Ceiling

[TheOldGrady]

This is about as dumb as a teaser I heard on the news a few minutes ago: "Talks continue in Washington today to reduce the deficit and increase the debt ceiling."

Yeah, right.

Now, let's put some more dirt in this hole and make it deeper.

[smujismuj]

The first thing I would do is scrap the military.

[smujismuj]

We're trying to 'fix' something that isn't fixable.

The economic system is fundamentally CORRUPT.

It needs to be scrapped.

[oldereb38]

The Federal Reserve, like any Ponzi scheme, must have new capital or it will collapse. Higher debt limit merely postpones the inherent collapse. The FRBNY handled $8.4 trillion from T-auctions last year and hid the profit from Congress. Is that embezzlement? Ref. 3W scribd dot com message 49040689 RIP OFF BY FEDERAL RESERVE

[thebigbangtheoryftw]

send this to obama

[SoulOnDeparture666]

@ 1:34 note the tiny peak of income>spending in the 1990's region. thank you clinton

[bertly71]

@SoulOnDeparture666 Too bad the economy was riding the dot com bubble which burst right after he left office. The numbers were skewed.

[ChampionMobile]

"that would only be a band-aid that hides the real problem. The amount the government takes in is only 60% of what it spends"

Nooooo, the REAL problem is the monopoly the PRIVATE Federal Reserve has on issuing debt backed money instead of the government issuing DEBT FREE credit. WAKE THE HELL UP PEOPLE - we are not a sovereign nation we are debt slaves to private capital.

[Tantum11]

@ChampionMobile The Federal Reserve is a central bank instituted by congress through the Federal Reserve Act, and all of its board members are placed there by congress, is it private? Sure, but it is by no means the result of private capitalism. Any student of Classicism will tell you that central banks are bad, which you clearly agree with. The Fed is exactly the opposite of private capital, and it should be removed.

[TigerghostPictures]

I hope all of you realize that I'm liberal, but I'm not a wacko liberal. I understand our debt, understand our deficit, and I am also frustrated at Washington and the President for not tackling this issue. What scares me is a candidate for the 2012 election that would sacrifice individual liberty to balance budgets. I'm gay and I'm tired of hearing Republicans attack us. I want to hear a strong fiscal conservative that won't cater to the religious right or treat me inferior. Do they exist?

[ashkaji]

@TigerghostPictures Yes, Ron Paul. Hes running in 2012. Constitutional conservative libritarian. He wants to decriminalise drugs, personal choices like abortion, and wants the goverment the hell out of peoples buisness in marriage. Check him out :]

[TigerghostPictures]

@ashkaji Ron Paul has literally 0% chance in winning the general election. Both of the two main parties will crush him badly in 2012 if he runs as an independent. I wish they'd let more parties into the ring so that we can actually have a dialogue. I'd love to hear a debate between the Communist Party and Republicans, or the Libertarians and Democrats. But that won't ever happen. People would actually have to "think" of who to vote for =/ It's time for a multi-party system, so all are heard.

[molloyxx1]

@ashkaji Ron Paul, who I disagree with on countless issues but support on his views about drastically reducing the number of overseas military bases [ and by extension cutting the defense budget] is a man of real integrity. Trouble is, he won't suck up to the Evangelical right wing [ who don't love the idea of legalizing heroin and prostitution, which are clear minded libertarian positions] and they still have a strangle hold on the Republican Party. He should run as an independent, period.

[ashkaji]

@molloyxx1 The system is truely a 2 party system though, third partys do not get a fair shake in the proccesses as democrats or republicans. Even with huge ammounts of money it is near impossible to get third partys on the ballot. I also belive that Ron Paul is a true classical republican, and deserves to run on that party regardless of the evangelical nuts trying to dictate the true definition of a ''republic'' or republican is. :]

[rushin2]

Well done!

[antiloqax]

I wish both Congress and the President understand the Debt crisis and actually fix it instead of worrying over politics. Doing what's right is not always easy!