Of course it is. If they can't borrow more money, "non-essential" portions of the government will have to shut down. Yahoo.
a lot more than non-essential operations will shut down - unless you don't consider things like the FAA, border security, food inspections, and so on "essential"
#101. To: Skip Intro, go65, capitalist eric (#96)(Edited)
unless you don't consider things like the FAA, border security, food inspections, and so on "essential"
He doesn't. You could also add the air traffic controllers, FDA, OSHA, the EPA, National Parks, Post Office, and on and on.
The government will collect $179 billion in taxes in August. Interest on the debt, Social Security, Medicare, and military salaries add up to $143 billion. That's $36 left for other things.
Here's how to make that $36 billion larger: 25% of people over 65 have pensions or incomes from annuities or property that classifies them as "wealthy". Remove these freeloaders from Social Security and Medicare and you'd have more more to spend on "essential" things.
Then get rid of all government subsidies for energy, agriculture, NPR, NEA, etc. and crazy "research" programs like studying hookers in China and the size of gay men's penises and you'd have a bunch of additional money.
Then sell the Post Office, Amtrak, and other services that could be better provided by business and you'd have even more money.
It's pretty darn simple to cut enough spending to close the deficit.
Right, or about $120-130 billion LESS then then the spending CONGRESS appropriated. You keep ignoring that.
Here's how to make that $36 billion larger: 25% of people over 65 have pensions or incomes from annuities or property that classifies them as "wealthy". Remove these freeloaders from Social Security and Medicare and you'd have more more to spend on "essential" things.
Didn't those "free loaders" pay into the system?
Then get rid of all government subsidies for energy, agriculture, NPR, NEA, etc. and crazy "research" programs like studying hookers in China and the size of gay men's penises and you'd have a bunch of additional money.
Nope, the Republicans refuse to raise revenue by cutting tax credits, and the programs you list don't add up to a hill of beans.
You want to keep denying it, but come 8/2 and no extension of the cap - the government will be shutting down things like the FAA, Department of Veterans affairs, most non-essential military spending, border security, food/mine inspections, and so on.
Meanwhile, the stock market will tank, hundreds of thousands of jobs will be at risk, and borrowing costs will sky-rocket while we go into a recession.
But hey, you've told us you won't notice any of this, so who cares, right?
