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Friday, March 1, 2024

Democratic warning: No debt, no government

Sen. Chuck Schumer (Reuters)

Senate Democrats warned Thursday of dire economic consequences if Congress fails to raise the US debt ceiling, saying it could prompt a shutdown of the federal government.

“It’s playing with fire,” said US Senator Chuck Schumer said of the legislative standoff.

If a shutdown were to occur, “citizens couldn’t get their checks, veterans couldn’t get their benefits, military payments would stop,” the veteran New York lawmaker said.

Congress early in 2010 raised the US debt ceiling to nearly $14.3 trillion — very near the current US debt of some $13.9 trillion dollars.

The government will run out of money in about two months’ time, according to the US Treasury Department, unless Congress votes to raise the federal debt ceiling.

But while Democrats, along with most Republicans, agree on the need to avoid having the United States default on its debt, which likely would likely trigger a massive economic meltdown, some conservatives remain firmly against increasing ceiling.

They insist instead of that it is time for massive spending cuts and belt-tightening, and say that raising the debt ceiling further only forestalls needed austerity moves.

Illinois Senator Richard Durbin said a similar curtailment of government services today could “precipitate an economic crisis, driving up interest rates on mortgages, loans, businesses, families across America.”

Durbin called it a “political tactic could kill our economic recovery and drive unemployment even higher.”

Democrats noted that the last similar such standoff which led in 1995 to a brief government shutdown that was limited in scope, proved politically costly for Republicans after the public sided en masse with Democratic President Bill Clinton.

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9 thoughts on “Democratic warning: No debt, no government”

  1. The Republicans won thanks to the mantra of smaller government, less debt and less spending. See how long that lasts.

    I’m sure there are millions of folks who wished they could just expand their debt to cover expanses – expenses that could have much of their history the result of government.

  2. Stunning.
    They are there to represent their constituents. Why are WE, those same constituents, not being asked about this? Those of us that not only work for a living, and are the actual source of “government revenue” might like to simply say “no”. I’ll bet they’re ~very~ afraid of “No”.

    “No”, to the feeding of these bloated self serving, flatulent cattle that wander about selling us to the highest bidder. “No”, to this continued semi regal state to which “they” have become accustomed at our expense.

    As someone that deliberately lives within my means, gets by with the basics, and saves a few bucks when I can … I find it infuriating to watch these pampered, well fed, people, bloated with their own illusions of power, cruising around in their limos (that I paid for)….talking about trillions of dollars of debt like it is nothing, to be an aberration of the first order.

    Utterly revolting. Nobody is too big to fail. LET them fail. Stop the spending now. Send them all home. Life will continue. We don’t need them. I’ve always felt that the States could run things just fine without them.

    I think it is time that we found out just how small a Federal Government on a nice tight leash can really be.

    Stop the madness. Stop the spending. Get rid of the Federal Reserve. Stop propping up the economies of other countries through foreign aid, Get out of the U.N. and boot them out of the country.

    Get out of NAFTA, Close most of the 400 plus military bases maintained on foreign soil.

    Yes, energy costs will go up. Yes, the dollar will be devalued. Yes, it is even possible that the U.S. dollar will stop being a world currency for international payments. So what.

    This country needs to get back to basics. We need to stop extending Pax Americanus by force, and start rebuilding American exceptionalism through the rebuilding of this country as the industrial powerhouse that our forefathers knew. It is through being so dependent on other countries to supply the bulk of our daily needs that we allow ourselves to be so very vulnerable.

    We’ve sold our lives, and the lives of our great grandchildren to special interests, and foreign powers for what? A quick fix here and there?

    The subjugation that we find ourselves in is a situation of our own making. People, the country is on fire, and sinking in hostile waters….and the Captain seems determined to make it a loss with all hands except his own.

    • Superb, spot-on analysis M. Terry with summary, constructive suggestions for positive change we truly can believe in and not that proffered to us by our “silver-tongued’ prevaricator in chief who’s only all-encompassing thoughts are for his reelection 2012.

      Carl Nemo

  3. Shut it down. Let’s see what life is like without a Federal government. Then we can really decide if we need them or not. I have a strong feeling they need us more than we need them.

  4. Terrorism, as defined by…

    1. The use of violence and threats to intimidate or coerce, especially for political purposes.

    2. The state of fear and submission produced by terrorism or terrorization.

    3. A terroristic method of governing or of resisting a government.

    • Superb Griff; ie, breaking out the definition of terrorism and nailing them for what they’ve become; ie., the shadowy ‘enemy’ they’re spending a transgenerational fortune to pursue. We’ve met the enemy and he is “them”.

      Schumer’s visage is the epitome of evil and corruption incarnate. : |

      Carl Nemo **==

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