But does it make sense to do this and needlessly send our borrowing interest rate upward.

(02-22-2011 12:24 PM)georgia_tech_swagger Wrote:  

(02-21-2011 01:17 PM)Redwingtom Wrote:  We all know that government is too big and too bloated, but holding the debt ceiling and just shutting it down would not result in what you want, as owl has noted, so why do it? The effects of the reduction in our bond rating alone would have disastrous results.

The problem is not the government worker, it's the special interest and their puppets in congress who facilitate it and until that is addressed nothing meaningful will ever change.

Shut everything down, damn the consequences.

The can cannot be kicked down the road any longer.

While Reagan and the Bush boys were exploding the debt kicking the can was OK? Damn the consequences? Wisdom isn't a strength of yours I take it.

(02-22-2011 12:28 PM)Redwingtom Wrote:  But does it make sense to do this and needlessly send our borrowing interest rate upward.

If it discourages Congress from needlessly borrowing more money, I'd say it does.

(02-22-2011 12:32 PM)Mr. Peanut Wrote:  

(02-22-2011 12:24 PM)georgia_tech_swagger Wrote:  

(02-21-2011 01:17 PM)Redwingtom Wrote:  We all know that government is too big and too bloated, but holding the debt ceiling and just shutting it down would not result in what you want, as owl has noted, so why do it? The effects of the reduction in our bond rating alone would have disastrous results.

The problem is not the government worker, it's the special interest and their puppets in congress who facilitate it and until that is addressed nothing meaningful will ever change.

Shut everything down, damn the consequences.

The can cannot be kicked down the road any longer.

While Reagan and the Bush boys were exploding the debt kicking the can was OK? Damn the consequences? Wisdom isn't a strength of yours I take it.

This coming from the guy who actually said the federal gov't was "efficient" when compared to the private sector, and cited a made up chain mail IQ study as fact.

I dare you to find one single post by GTS where he voiced support for a GWB big spending bill. And don't say "the Bush tax cuts." You can't spend money that isn't yours to begin with.

(02-22-2011 12:32 PM)Mr. Peanut Wrote:  

(02-22-2011 12:24 PM)georgia_tech_swagger Wrote:  

(02-21-2011 01:17 PM)Redwingtom Wrote:  We all know that government is too big and too bloated, but holding the debt ceiling and just shutting it down would not result in what you want, as owl has noted, so why do it? The effects of the reduction in our bond rating alone would have disastrous results.

The problem is not the government worker, it's the special interest and their puppets in congress who facilitate it and until that is addressed nothing meaningful will ever change.

Shut everything down, damn the consequences.

The can cannot be kicked down the road any longer.

While Reagan and the Bush boys were exploding the debt kicking the can was OK? Damn the consequences? Wisdom isn't a strength of yours I take it.

You really ought to take a brake from posting and go back and read for a while. You keep assigning to people here and you clearly don't know any of us.

(02-22-2011 12:32 PM)Mr. Peanut Wrote:  While Reagan and the Bush boys were exploding the debt kicking the can was OK? Damn the consequences? Wisdom isn't a strength of yours I take it.

You appear to be the only person on this forum not aware that I do not approve of the Reagan, GHWB, and ESPECIALLY mofo Dubya Administrations.

Reagan had and still has the best speech ever by a Republican when he endorsed Barry Goldwater .... but it was rapidly down hill from there.

(02-22-2011 12:36 PM)BlazerFan11 Wrote:  

(02-22-2011 12:28 PM)Redwingtom Wrote:  But does it make sense to do this and needlessly send our borrowing interest rate upward.

If it discourages Congress from needlessly borrowing more money, I'd say it does.

But we will likely still need to borrow money for things that are 100% necessary.

(02-22-2011 12:28 PM)Redwingtom Wrote:  But does it make sense to do this and needlessly send our borrowing interest rate upward.

If we're not borrowing, what difference does it make what the rate is?

More seriously, if we keep running deficits, it's inevitable that our borrowing rate is going up, and that we are going to be borrowing ever more and more at those higher rates.

Not doing this because it will make our borrowing interest rate go up is a reasonable choice when the alternative does not make our borrowing interest rate go up. Unfortunately, that is not the case this time.

Every American competes for money with the federal gov't. If you, as a banker, had to choose who to lend money to, between Joe Public and Uncle Sam. Uncle Sam wins hands down every time.

(02-22-2011 01:27 PM)georgia_tech_swagger Wrote:  

(02-22-2011 12:32 PM)Mr. Peanut Wrote:  While Reagan and the Bush boys were exploding the debt kicking the can was OK? Damn the consequences? Wisdom isn't a strength of yours I take it.

You appear to be the only person on this forum not aware that I do not approve of the Reagan, GHWB, and ESPECIALLY mofo Dubya Administrations.

Reagan had and still has the best speech ever by a Republican when he endorsed Barry Goldwater .... but it was rapidly down hill from there.

I am against deficit spending also but we must act in a responsible manner