>>>>The debt limit is an imaginary issue. It has been increasing every year for decades, no matter which party is in charge. To suddenly revoke it would be disastrous, according to economists.
>>>
>>>You're presenting a false choice. To raise or not, is not the issue. The issue is spending cuts to accompany, as I previously pointed out in Message #1512458.
>>>
>>>According to economists:
>>>
>>>"An increase in the national debt limit that is not accompanied by significant spending cuts and budget reforms to address our government's spending addiction will harm private-sector job creation in America,"
>>>
>>>http://www.cnbc.com/id/43234290
>>>
>>>In addition, I agree with you that default is an imaginary issue because as I pointed out default itself is a political decision. The Dept of Treasury chooses the order in which spending occurs. Geithner can pay our interest payments first and defund other spending, thus, no default.
>>>
>>>>>It depends on how you define a balanced budget. Some define it as no borrowing. Just like people, there are legitimate reasons to go into debt, but you need to be able put those payments into the revenue you bring in. That is a balanced budget. The continual increase in the debt limit just keeps making the hole bigger.
>>>>>
>>>>>>With the economic problems this country has, don't you think that it might be a good idea to have someone in the White House that has a clue about making payrolls (having a balanced budget) and hiring people (growing jobs)?
>>>>>>
>>>>>>Typical left wing looney response...
>>
>>Don't you think shutting off the government spigot would suck the juice out of an economic recovery that is tepid as it is? Already we are seeing employers scale back hiring from what it was earlier in the year.
>
>To put it bluntly, the "recovery" is fake. The massive pump priming has done nothing but delay the inevitible.
>
>According to CNNs bailout tracker:
>http://money.cnn.com/news/storysupplement/economy/bailouttracker/index.html
>
>We've spent $3 Trillion and committed 11 Trillion.
>
>For all that we've got a tepid recovery at best because GDP & stock market are positive. Meanwhile official unemployment is 9.1%, unofficial is over 16%, the housing market is in a double-dip, commercial real estate prices are halved, the dollar is devalued, companies are sitting on trillions instead of reinvesting and inflation is just beginning to rear it's ugly head.
>
>The nation decided to kick the can instead of taking it's medicine and allowing the bankruptcy, receivership chips fall where they may and as such we have made a bad situation worse. To suggest further spending is the cure is by Einstein's definition, insanity.


yes

The Greeks have done us no favours by managing to pass a vote of confidence so the slow motion car crash goes on with more bail outs.

We need to get on with the collapse so we can start a proper clean sheet recovery with a cleansed banking system.