(10-09-2013 08:34 AM)EagleRockCafe Wrote:  If I have a $100 limit on my credit card. I spend all $100 but pay nothing back.

I go to my credit card company and say “Look homie, if you raise my limit to $200, I’ll pay off $50 now, but I have bills to pay so I have to use up that extra $100 right away”

That means although I’ve paid $50 off. I’ve added $150 to the card and am now at my new limit of $200.

What part of this is confusing?

http://www.youtube.com/watch?v=zZSMdlINVAk#t=24

(10-09-2013 08:34 AM)EagleRockCafe Wrote:  If I have a $100 limit on my credit card. I spend all $100 but pay nothing back.

I go to my credit card company and say “Look homie, if you raise my limit to $200, I’ll pay off $50 now, but I have bills to pay so I have to use up that extra $100 right away”

That means although I’ve paid $50 off. I’ve added $150 to the card and am now at my new limit of $200.

What part of this is confusing?

http://www.youtube.com/watch?v=zZSMdlINVAk#t=24

(10-09-2013 08:57 AM)RobertN Wrote:  

(10-09-2013 08:34 AM)EagleRockCafe Wrote:  If I have a $100 limit on my credit card. I spend all $100 but pay nothing back.

I go to my credit card company and say “Look homie, if you raise my limit to $200, I’ll pay off $50 now, but I have bills to pay so I have to use up that extra $100 right away”

That means although I’ve paid $50 off. I’ve added $150 to the card and am now at my new limit of $200.

What part of this is confusing?

http://www.youtube.com/watch?v=zZSMdlINVAk#t=24

What part of WE HAVE ALREADY SPENT MORE THAN THE CURRENT LIMIT do you NOT understand? Try using a relevant example.

Oh, before you start blaming Obama for this, you have to remember where spending bills come from. Thats right, the the Republican majority House.

(10-09-2013 10:26 AM)EagleRockCafe Wrote:  

(10-09-2013 08:57 AM)RobertN Wrote:  

(10-09-2013 08:34 AM)EagleRockCafe Wrote:  If I have a $100 limit on my credit card. I spend all $100 but pay nothing back.

I go to my credit card company and say “Look homie, if you raise my limit to $200, I’ll pay off $50 now, but I have bills to pay so I have to use up that extra $100 right away”

That means although I’ve paid $50 off. I’ve added $150 to the card and am now at my new limit of $200.

What part of this is confusing?

http://www.youtube.com/watch?v=zZSMdlINVAk#t=24

What part of WE HAVE ALREADY SPENT MORE THAN THE CURRENT LIMIT do you NOT understand? Try using a relevant example.

Oh, before you start blaming Obama for this, you have to remember where spending bills come from. Thats right, the the Republican majority House.

Now get back to your video games.

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

(10-09-2013 10:52 AM)Crebman Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

Is that your way of saying "Just print more money"?

(10-09-2013 10:51 AM)VA49er Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

First of all, all global currencies are not pegged to the US dollar. Only around 17 out of around 182 currencies are pegged to the dollar last time I checked. Also, just because we have the capability to dictate some terms does not mean we should. Quite the opposite. Further, what happens when the US dollar is no longer the reserve currency? Are we just screwed then or do we start acting like big boys and do something about the debt now?

(10-09-2013 10:52 AM)VA49er Wrote:  

(10-09-2013 10:52 AM)Crebman Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

Is that your way of saying "Just print more money"?

Pretty much sums it up nicely.

(10-09-2013 11:09 AM)firmbizzle Wrote:  

(10-09-2013 10:51 AM)VA49er Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

First of all, all global currencies are not pegged to the US dollar. Only around 17 out of around 182 currencies are pegged to the dollar last time I checked. Also, just because we have the capability to dictate some terms does not mean we should. Quite the opposite. Further, what happens when the US dollar is no longer the reserve currency? Are we just screwed then or do we start acting like big boys and do something about the debt now?

As long as we are the world's leading Superpower, we will hold the reserve currency. When we stop being that, then we have bigger problems than the debt.

Keep borrowing more money. Remember, we are the good guys in the world's best defense. We create the security for the free market to work. Most of our debt comes from that. We should be sending everyone a bill.

(10-09-2013 11:14 AM)EagleRockCafe Wrote:  

(10-09-2013 11:09 AM)firmbizzle Wrote:  

(10-09-2013 10:51 AM)VA49er Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

First of all, all global currencies are not pegged to the US dollar. Only around 17 out of around 182 currencies are pegged to the dollar last time I checked. Also, just because we have the capability to dictate some terms does not mean we should. Quite the opposite. Further, what happens when the US dollar is no longer the reserve currency? Are we just screwed then or do we start acting like big boys and do something about the debt now?

As long as we are the world's leading Superpower, we will hold the reserve currency. When we stop being that, then we have bigger problems than the debt.

Keep borrowing more money. Remember, we are the good guys in the world's best defense. We create the security for the free market to work. Most of our debt comes from that. We should be sending everyone a bill.

Are you really that dumb?? Do you ever take that head out of that hole and see what is happening to America's leadership role in the world. We have a President who has apologized all over the word for America's leadership role in the world. Yea, just keep borrowing and then send the keys to the house to China when they call our notes. Just hard to fathom people are as delusional as you.

(10-09-2013 11:12 AM)firmbizzle Wrote:  

(10-09-2013 10:52 AM)VA49er Wrote:  

(10-09-2013 10:52 AM)Crebman Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

Is that your way of saying "Just print more money"?

Pretty much sums it up nicely.

Make it rain.

(10-09-2013 11:23 AM)Crebman Wrote:  

(10-09-2013 11:12 AM)firmbizzle Wrote:  

(10-09-2013 10:52 AM)VA49er Wrote:  

(10-09-2013 10:52 AM)Crebman Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

Is that your way of saying "Just print more money"?

Pretty much sums it up nicely.

Make it rain.

So you're saying that by printing more money, the value of what we owe China is lessened and easier to pay because each dollar is worth less? Great......except the value of each dollar that I hold is also worth less........but we don't care about that, right?

(10-09-2013 11:09 AM)firmbizzle Wrote:  

(10-09-2013 10:51 AM)VA49er Wrote:  

(10-09-2013 10:47 AM)firmbizzle Wrote:  You Cons really don't understand how this works. If YOU have a $100 limit on YOUR credit card and spend $100, YOU can't spend anymore. Why? YOU have no control on the currency that you pay the card back with. In the case of the debt ceiling, the United States holds the reserve currency. Meaning that we exclusively determine how and when our creditors get paid back. YOU can't do that. All currency in the world is pegged to the dollar. This is why the amount of debt we have really doesn't matter and why people/countries will continue to loan us money. They are still buying Treasury bonds. We actually need to be borrowing more money right now because interest rates are so low and using that to repair our infrastructure. Tea Party Patriots have it all wrong.

http://en.wikipedia.org/wiki/Reserve_currency

First of all, all global currencies are not pegged to the US dollar. Only around 17 out of around 182 currencies are pegged to the dollar last time I checked. Also, just because we have the capability to dictate some terms does not mean we should. Quite the opposite. Further, what happens when the US dollar is no longer the reserve currency? Are we just screwed then or do we start acting like big boys and do something about the debt now?

As long as we are the world's leading Superpower, we will hold the reserve currency. When we stop being that, then we have bigger problems than the debt.

Keep borrowing more money. Remember, we are the good guys in the world's best defense. We create the security for the free market to work. Most of our debt comes from that. We should be sending everyone a bill.