Government Debt Ceiling Discussion

[Mimi]

Treasury Department officials and leading economists have warned of potentially catastrophic consequences if the ceiling is not raised by August 2, at which point the country could default on its debt obligations. Among other things, the country could face skyrocketing interest rates and a plummeting dollar.

http://www.cnn.com/2011/POLITICS/07/05/congress.debt.ceiling/index.html

[colporteur]

Because Federal debt is out of control because of long term out of control spending there is now a push to borrow (steal) the tax payers retirements to fund the robbed Social Security fund. In other words they wish, to in a sense take away social security, in order to give social security. This fits right in with socialism, the taking away of funds and redistributing them so that everybody( accept Sabbath keepers) has ,something,... but nobody has much accept for those at the very top. Then they want to raise taxes so the ever decreasing amount of people working will need social security in order to survive.

[Marelis]

It's a seriously gloomy forecast.

[Richard Myers]

Yes, it is gloomy for those without Christ, but for us, look up, our redemption draweth nigh!!   

August 2 is a scare tactic being used to force lifting the ceiling.  It is a most serious matter, but the date is absurd.  There will be no default on the national debt on August 2 even if the ceiling is not raised.  Obama can keep printing paper money to pay the bills. There is no difference come Aug. 2. Besides which, the US has enough money to pay its debt. There are a number of financial maneuvers that can take care of the problem come Aug 2. It is a long term problem we have with no good solution.  God does not figure into their thinking.