And everyone keeps talking about default, but failing to raise the debt ceiling does not cause us to default. There's plenty of revenue, and plenty of other spending to cut before we get there.
And everyone keeps talking about default, but failing to raise the debt ceiling does not cause us to default. There's plenty of revenue, and plenty of other spending to cut before we get there.
http://blogs.reuters.com/felix-salmon/2013/10/14/the-default...
The sequester should take care of some those spending cuts. Getting a Democratically controlled government to cut spending is pretty hard considering they believe the way to stimulate growth is to spend and increase taxes.
EDIT: Not saying Democrats are the only ones who like to spend - Bush pushed the debt up quite a bit while he was in office so Republicans are not blameless either. However, most Republicans believe in smaller government, less taxes, and being fiscally responsible.
http://www.usgovernmentspending.com/federal_deficit_chart.ht...
EDIT:
I would question the downvote, considering my post is just a link I grabbed from the first google search on 'deficit spending by year', but then I realized that cognitive dissonance is a harsh mistress. I won't judge if you lash out with your mouse. Aaand I just broke my own rule about replying to downvotes...
Bush reduced the deficit over several years too, did you ignore that? Gods, you partisans are hilarious.
http://www.latimes.com/business/la-fi-shutdown-treasury-debt...
If you're so out of the loop that you haven't already heard about this issue, you get dozens of resources with a simple google.
"Lew would not commit to prioritizing payments on government bonds if the debt limit is not raised. He said the decision would be up to Obama."
No, I don't have a source to back up any of this. Sorry about the "ass" comment; I shouldn't have phrased my point in that manner.