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The problem of the US debt ceiling
Graham_Devon
Posts: 58,560 Forumite
It's pretty much a foregone conclusion that the debt ceiling will be raised, which has me asking questions as to why there is a ceiling at all, if it's just going to continue to get broken and raised.
What did stand out to me, was this image.
How can it simply keep being raised?
What did stand out to me, was this image.
How can it simply keep being raised?
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Comments
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How about showing the image RPI adjusted or even better as %GDP - much more meaningful I would have thought.
The US is unusual in arbitrarily imposing a limit - the actual limit must be the level at which the markets are willing to finance the debt (see Greece passim)I think....0 -
How can it simply keep being raised?
Because the alternative is un-thinkable or un-palatable, or un-electable. :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
How about showing the image RPI adjusted or even better as %GDP - much more meaningful I would have thought
It wouldn't look anywhere near as dramatic
'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
http://themoderatevoice.com/wordpress-engine/files//2011/07/debt-adjusted.png
http://cdn.theatlantic.com/static/mt/assets/business/assets_c/2011/04/Debt%20Ceiling%20Ratio%20to%20GDP%20History-49340.phpLiving for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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The congressman that have short positions on the Dow must be sweating a bit at the moment.
http://money.cnn.com/2011/07/25/markets/markets_newyork/index.htm?iid=HP_LN0 -
It's unbelievable isn't it. I would have thought that their debt should have remained constant from 1980 until now.
Oh, and should also be able to buy a house at the same price as it was in 1980 too... my parents did, etc.0 -
I thought the same thing when I saw that chart. Is there any point in the ceiling if its just raised everytime someone wants to increase spending?Faith, hope, charity, these three; but the greatest of these is charity.0
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Wow, those war mongering Republicans raising it by 70% under Bush, then stitching up the Democrats with the poison chalice of the credit crunch overhang :eek:'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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Ark_Welder wrote: »
Looking at that GDP chart the largest jumps seem to have occurred under Republicans, Bush and Reagan.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Looking at that GDP chart the largest jumps seem to have occurred under Republicans, Bush and Reagan.
Borrowing to make tax cuts...
http://www.heritage.org/budgetchartbook/charts/2011/current-tax-receipts-850.jpg
Bit like companies issuing corportate bonds to make share buybacks or pay dividends - a private equity specialityLiving for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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