Quote:
Originally Posted by Baraka_Guru
It's not really about whether it's raised or who raises it so much as by how much it's raised and in relation to increases in GDP. In a way, it's akin to an individual who requests more credit cards or increases their credit limit as their earning potential increases. Whether they pay off their current debts is another matter. However, the risk of increased debt limits is mitigated by the increase in earning power.
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I agree and the long term solution requires that we address the debt in a manner that can most effectively begin to pay it down.
IMO, that would be a combination of spending cuts, entitlement reform AND tax increases,
And that should be separate from the current need to raise the debt again, which, if we fail to do so, could have significant adverse economic impacts just as the economy is slowly recovering.
For the Republicans to complain about raising the debt again after having done so four times as a result of the impacts of the Bush 01 and 03 tax cuts, the 03 Medicare prescription drug reform enacted w/o a revenue offset, 10 years of war spending in Iraq, etc. is a playing politics with the debt and a bit hypocritical.