That is why I really believe the Republicans have to stand up and not deal with this unless they get some serious concessions from the President and the Dems in the senate.

But as you know, the real choice is not between delicious cake and delicious cake.

What I’m watching is Dems who want to keep spending even more and Reps who have thus far failed to cut diddly. Nothing. Name one significant agency or elimination. Zero.

If that keeps up, “there can and will be repercussions that effect average Americans” — as you aptly put it. In other words if your going to get beat up either way why not make the best of it. I don’t relish what’s coming but a debt ceiling does force actual cuts in spending. Smoke and mirrors will only get ya so far

People have shown that they can be real tough when it comes to polls, but they balk at actual cuts or anything like a default.

I don’t think it is hysterical to point out that if the debt ceiling is not raised there can and will be repercussions that effect average Americans. I do think that when people answer a question like this they are sending a message that they want an end to the out of control spending…but I don’t think they really know what it means to not raise the debt ceiling. I think they believe that politicians want to raise the debt ceiling because they want to borrow more money, in truth if the debt ceiling is not raised it will effect current spending.

And I bet that most Americans also think it is a good idea to raise taxes on top earners also.

People want to send a message, that does not mean they want another recession.

Could be a way to lop off a whole chunk of programs that both parties seem unwilling to chop.

WHen he was pushed, he got a little smirk on his face and said, “It depends on how soon they want to do it again.

So there’s Geithner’s plan, in a nutshell.

I hope the House puts the pressure on them.

Who is foolish enough to believe that this man has any financial grasp on anything, but our dollars?

Let’s see a poll that asks “which of the following 2 or 3 realistic choices do you prefer”

HitNRun on April 22, 2011 at 11:29 AM

Absolutely! When I saw the two results, I thought… “and?” They cut apart two linked items and then tried to reassemble the context out of the results… and can’t seem to understand why the hamburger doesn’t look like a cow.

Simply ask two questions…

1) I believe that…
a) Medicare will be forceably cut if costs are not contained through cuts.
b) We can continue borrowing to infinity to fund Medicare indefinately.
…

2) I think we should…
a) Contain Medicare costs now so that it will exist for my self, my children, and my grandchildren.
b) Convert Medicare to a voucher system to use more efficient private insurers.
…

I believe that Medicare is a nice to have for medical expenses when someone drastically exceeds average life expectancies. I also believe that if cost containment cuts aren’t made, it will NOT exist in the near future (crash). I think we should consider Ryan’s plan for vouchers, or use HSAs (which keeps it as my money and makes it easy for companies to fund as an employment differentiator).

Failing to raise the debt ceiling would not cause the U.S. to default on any of its debt.

Debt payments would be the first thing we paid with the two+ trillion in revenue we would bring in without borrowing.

Everything else would get slashed to the bone, but we would not default.

BadgerHawk on April 22, 2011 at 11:16 AM

The debt service, interest on our debt is about 6 percent of everything the federal government has to pay. So, we would be taking in enough revenue to cover more than 10 times all the interest that we owe. There is no reason we would have to default on our interest obligations.

Why exactly do you think that servicing the debt is the first thing that the treasury will stop doing?

Count to 10 on April 22, 2011 at 11:17 AM

Well….given the bunch of clowns in power, it might be. Of course, that would have less to do with the debt ceiling and more to do with the petty, knee-jerk, vindictive, small-minded, unthinking nature of the Administration….

So in the past week polls have told us:

78% oppose cutting Medicare
48% support cutting Medicare
63% oppose the debt ceiling
60% support higher taxes

In other words Americans have no freaking clue what the hell they want.

angryed on April 22, 2011 at 11:14 AM

What this tells me is that pollsters are putting out incoherent little snippets of policy in hopes of influencing the debate.

If you took an issue like: “Go grab some lunch. I’m not feeling all that hungry.” and addressed it with a plan like, “go to McDonald’s, get a smallish burger and a small fries.” — the pollsters would turn this into:
78% oppose going to McDonald’s
48% support getting a small burger
63% oppose using a credit card
60% support something tasty not on the value menu.

Dicing up a coherent, complete plan in this fashion is just a way to block effective action.