Forums - Politics Discussion - Obama wants unlimited credit? Sounds crazy-

http://news.investors.com/ibd-editorials/120612-636088-obama-seeks-power-to-raise-debt-ceiling.htm?p=full

 

Does this sound like a good idea to you guys? I think we need some responsibility and accountability.



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Well it could be a good idea. The way we get out of recessions, get more jobs, pump economy is by spending a ton of money whether that be on credit or not. We have encouraged increased spending during recessions throughout the nations history, well at least since the idea of Keynesian economics came around. During previous recession the gov lowered interest rates, increased credit, etc. and the country always seemed to come out of recession. However, this past recession is different since simply lowering interest and increasing gov spending is not working and the gov is having a hard time figuring out what exactly will fix the economy. I'm open to Obamas idea

Well it would allow the U.S. to be essentially like every other country. Who doesn't want to be in the same group as Somalia, Lebanon and Uzbekistan?

Tease.

So we're gonna settle the problem of debt with more debt? Sounds logical to me... -_-

Metallicube said:
So we're gonna settle the problem of debt with more debt? Sounds logical to me... -_-


I don't think the United States was ever not in debt



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Used to be the president wouldn't need this power. Up until the lovely 112th.

We're also going to need to revise rules easing presidential appointments.

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Obama is frustrated because the debt ceiling is doing (more or less) what it was designed to do ...



SpartenOmega117 said:
Metallicube said:
So we're gonna settle the problem of debt with more debt? Sounds logical to me... -_-


I don't think the United States was ever not in debt


yea it was never in debt except for most of its existance where it wasn't.  Debt has only come in the last 100 years, and even after then  we had debt but the US was a net creditor until the mid 80s.  



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Yeah, he does not want to haven to balance the budget every six months like normal.

How many Pentagon employees will be fired on the second because of this fiscal cliff fall through in 3 hours? 800,000?

All so he can get points from voters for his party and get new tax cuts named after him.

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obama is frustrated because congress is impotent. Whenever they can't agree to a debt ceiling it looks bad to the ratings companies. If we have unlimited credit, we can still argue about money but not have to worry about looking bad. It seems sound to me.

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