Nikki on: the Federal Debt Crisis of 2011

July 27, 2011 sexyknees
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Stand up for your country!

I’m going to break my vow to keep my blog apolitical and speak my mind, albeit succinctly, about the pending crisis over raising the federal debt limit from 14.3 trillion to 15.3 trillion by August 2, 2011.  In my humble opinion, should the deadline pass without a resolution, Congress will no longer be acting in the best interest of the people of the United States and should, therefor, no longer be worthy of being our elected representatives.  Those whom will suffer are not the upper echelons of society – just us little folk reliant upon Social Security checks, unemployment benefits, etc.  The worst part is that with the collapse of our credit rating we take the rest of the world with us.  Is non-resolution the most responsible outcome when real lives are at stake?  Even Wall Street  does not want this to occur, so for whom do these Congressmen speak?  Whether you are Democrat or Republican, you are an American citizen.  Stand up for your country and let it not suffer unnecessarily.  You don’t have to like or agree with either President Obama or the system, just do what you must to let Washington know that to allow August 2nd to pass without a solution is absolutely unacceptable.  Fight for your country, people – this is your time!

PS:  I am not a financial or political academic, so if any of the above is incorrect please let me know.

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2 Comments Add your own

  • 1. Dana  |  July 28, 2011 at 2:40 am

    Hey Nikki, we’re spending allot more then what taxes bring in. To make make up the difference we borrow money and pay interest on that loan. The money we borrow is debt and the debt limit or debt ceiling is how much we can borrow. For every $1 we pay in taxes about $0.50 goes towards paying for the interest on the debt loan. At this point we have to raise the limit and then we’ll be paying about $0.55 on debt interest with every tax $1. We need to get spending under control and raising taxes does not control spending. Raising taxes pays for spending more. So my vote is for raising the limit to buy time to find ways to decrease spending.
    Dana

    • 2. sexyknees  |  July 28, 2011 at 2:57 am

      Thank you, Dana, for the informative reply! I deeply appreciate you taking the time to write. I agree with you completely – spending must be controlled and taxes must be raised, but we need time to resolve these issues rather than throwing the equivalent of a governmental temper-tantrum. It is no wonder Europe looks upon our country as being a big kid with a development problem. To put the world’s economy at peril due to partisan politics is unconscionable. Thanks again for writing! Nikki


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