Question for conservative - debt ceiling in future debates

[jkjsooner]

I want to propose a scenario and get your opinion on it. Let's say in four years we have a Republican President, a Republican controlled Senate, and a Democratic controlled house. So let's say everything is reversed from where it is now.

At some point we reach another period where the debt ceiling must be raised and we approach the default point. What will you say if the house refuses to pass an debt ceiling increase unless we increase taxation significantly? Is this going to be the new norm?

[olevetonahill]

The more things change the More they stay the same
https://scontent-a-dfw.xx.fbcdn.net/hphotos-ash3/1384196_10151744029669482_1372211904_n.jpg

[SoonerBBall]

I want to propose a scenario and get your opinion on it. Let's say in four years we have a Republican President, a Republican controlled Senate, and a Democratic controlled house. So let's say everything is reversed from where it is now.

At some point we reach another period where the debt ceiling must be raised and we approach the default point. What will you say if the house refuses to pass an debt ceiling increase unless we increase taxation significantly? Is this going to be the new norm?

The debt ceiling should scale with the GDP. If it is positive, it should increase. If it is negative, the debt ceiling should shrink by a percentage of the decrease in GDP. That is the responsible way for Congress to handle the situation. We can definitely count on both sides being irresponsible, though.

[diverdog]

The debt ceiling should scale with the GDP. If it is positive, it should increase. If it is negative, the debt ceiling should shrink by a percentage of the decrease in GDP. That is the responsible way for Congress to handle the situation. We can definitely count on both sides being irresponsible, though.

I think you have it backwards.

[soonercruiser]

I think you have it backwards.

Agree!
When the economy and tax revenues are "going great guns", we should be paying down the debt.
Does the tail wag the dog???

[bluedogok]

It has always been a point of discussion in these situations before. There is only one person that seems to think it is not a discussion point in this round but then tend to ignore history if it doesn't serve his purpose.

[OU_Sooners75]

1. This country won't default on interest payments. The government brings in to much to default.

2. If the democrat led house refused to raise the debt ceiling then they would essentially going against what the believe currently. Hurting their chances even more with the voters.

Republicans will try everything to get spending under control I do believe.

[8timechamps]

I want to propose a scenario and get your opinion on it. Let's say in four years we have a Republican President, a Republican controlled Senate, and a Democratic controlled house. So let's say everything is reversed from where it is now.

At some point we reach another period where the debt ceiling must be raised and we approach the default point. What will you say if the house refuses to pass an debt ceiling increase unless we increase taxation significantly? Is this going to be the new norm?

We're there JK. That is the new norm, it'll be used from now until something is done to keep it from being a bargaining chip.

Let's revisit this thread in February, I suspect we'll be right back to where we were just a week ago.

[cleller]

Speaking of debt, Harvard University released its 2012 annual report on the USA, debt and spending. Didn't get much coverage, except in the conservative or libertarian circles. I know we are getting numb to these fantastic numbers, but our debt has jumped 55% under Obama. (any CEO would be fired for a stunt like that)

Every working American now owes $123,000. That should twist our guts, but it gets hardly a mention. I never even owed that much on a mortgage. That's more total debt than I have ever faced in my lifetime.

The short version:
http://washingtonexaminer.com/harvard-us-debt-bill-is-123000-per-worker/article/2537299

The official Harvard document:
http://www.iop.harvard.edu/blog/students-produce-fy-2012-annual-report-usa-debt-revenues-and-spending?utm_source=email&utm_medium=pressrelease&utm_campaign=Fall2013ARUSA

[LakeRat]

I want to propose a scenario and get your opinion on it. Let's say in four years we have a Republican President, a Republican controlled Senate, and a Democratic controlled house. So let's say everything is reversed from where it is now.

At some point we reach another period where the debt ceiling must be raised and we approach the default point. What will you say if the house refuses to pass an debt ceiling increase unless we increase taxation significantly? Is this going to be the new norm?

Taxes on everyone, or just the high income people?