Debt Ceiling Raised

Today, the Congressional leaders of the US finally decided on a course of action regarding our monstrously high national debt--they're going to raise the debt debt ceiling (how much debt we can legally accumulate) even higher in order to prevent the disaster that would happen if we defaulted on that debt, all $14.3 Trillion of it....

So what are your thoughts on this? Fears? Let's hear 'em.

It's my job to help the next generation, and set a good example for them. And for that I'll gladly lay down my life.

Yeah, it kinda has. They agreed on a plan, they just have to pass it.

Throwback to my cringey emo phase.

It's just a small "Cease and Resume Bickering" moment, staling basically. Necessary? Yes, because they needed to get a solution out quick.

Whoa bro, better slow down bro, don't wanna be a bro, bro.

The House has passed the deal 269-161. The Senate is scheduled to vote on Tuesday.

Catch my drift.

And just minutes ago, the Senate voted 74-26.

This bill does raise how much the US can legally borrow, but also will 1) slash trillions off federal spending - with $1 trillion over the course of ten years, 2) introduce a congressional committee devoted to recommending at least $1.5 trillion in further reductions, and 3) an additional automatic trillion cut if those recommendations go unapproved by 2012 (exception only if a Constitutional amendment concerning the budget is proposed and sent to states for approval). Areas being looked at are public works, defense, and changes to the tax code.

Catch my drift.

They're just delaying the inevitable.. We need to think of something...

Communism: You have more water, everyone has more water!

Goodbye education.

Goodbye my only friend. Oh, did you think I meant you?

@Equinox7 Thing is, we're so deep in this was essentially the only viable option. If we defaulted o all that debt, well we'd be screwed in, well, every area.

It's my job to help the next generation, and set a good example for them. And for that I'll gladly lay down my life.

Many congressional leaders have been saying that this will lower America's AAA rating to just AA, and it will boost unemployment to around 50%. Some have even said defaulting would've been a better choice. I don't know if that's true, but that's what I've been hearing.

Throwback to my cringey emo phase.

Hmm... Defaulting would be like wiping the slate clean and starting anew, but also like smashing the slate with a sledgehammer multiple times. We can either delay the inevitable and dig deeper, or smash the cap and go into a bit of trouble right now, for the long-run's benefit. I think.

Whoa bro, better slow down bro, don't wanna be a bro, bro.

↑Agree.

Throwback to my cringey emo phase.

ZOMG. But seriously, I think that if we had Defaulted now, it'd be much better than Defaulting next year. Default, "catastrophe", Rebuild.

Whoa bro, better slow down bro, don't wanna be a bro, bro.

The government ponzi scheme... Pay debts with loans...

Goodbye my only friend. Oh, did you think I meant you?

↑Which just digs their graves bigger and faster. :/

Throwback to my cringey emo phase.

Exactly. It's like some moron enrolling for another credit card to pay off their first credit card.

Whoa bro, better slow down bro, don't wanna be a bro, bro.

↑It's a never ending cycle of debt.

Throwback to my cringey emo phase.

Exactly,... Well, if you die and don't have any living family, THEN it ends. oFTo Or they pass it on to close friends.

Anyway, we've screwed ourselves deeper in.

Whoa bro, better slow down bro, don't wanna be a bro, bro.

Cant the people do anything? We can't just sit here and wait for the government to raise the ceiling again...Their must be some kind of vote...

Communism: You have more water, everyone has more water!

Nope.

Goodbye my only friend. Oh, did you think I meant you?

If the debt gets any bigger I fear there will be war, Because we cant afford to pay the large debts.

Former BBmin and Gamemin.