Monday, March 18, 2013

The Debt Ceiling

What is this? Why does it matter?  What is your responsibility for it as teenagers?  How long will you feel the affects of spending for these years as taxpayers?

The Vomit Bird-Gop  and counter argument:  Obama on the debt ceiling

4 comments:

  1. Ubaldo/5th periodMarch 21, 2013 at 2:39 PM

    As Anson Kaye form usnews.com said "the debt ceiling reflects spending that the House approved all on its own." It matters because the president has the power to raise it, and the debt just gets biger and bigger. As a teenager, when I become a taxpaying adult, the taxes I pay will go towards paying this off.

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  2. The debt ceiling is the limit imposed on the budget deficit that the government can spend. Without it then the national debt will increase. If the debt ceiling is not imposed than politicians will just run the budget deficit up and if they get re-elected they just add to the national debt and waist money on there own ideas instead of spending the money on government programs. If the debt ceiling is reached than the U.S Treasury can no longer make Treasury notes and has to rely on income to pay government expenses. If there was no debt ceiling than it would lead to many economic problems and would significantly boost the national debt. We as teenagers need to be aware of where the debt ceiling is going to and how efficient it is. We will definitely feel the effects of government spending now for the rest of our lives. The national debt will be passed down to us and we will have to work hard only to create the same situation for future generations.

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  3. The Debt Ceiling is a problem that the government is dealing with and according to Obama, "he emphasized that raising the debt ceiling does not authorize any new spending but simply allows the government to continue to pay for obligations to which Congress has already agreed"It matters because it affects people in America who pay taxes and it affects the borrowing limit. People say failure to raise the debt ceiling would end up in a disaster and hurt the economy. As a teenager I think that this would affect us on the long run, when we pay our taxes or want to borrow money from the bank. This might take a while but it will affect us and it may affect our kids.

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  4. The United States debt ceiling debate of 2013 is part of an ongoing political debate in the United States Congress about the appropriate level of government spending and its consequential impact on the national debt and debt ceiling. President Obama stated that not raising the debt ceiling would cause delays in payments including benefits and government employees' salaries and lead to default on government debt. President Obama urged Congress to raise the debt ceiling without conditions to avoid a default by the United States on government debt. President Obama states that this state is in need of change in order to continue to strive. We are currently in debt, and we need to get out of the debt zone. Now, our responsibility as teenagers i to take ignitiative and provide a way to create a large income for instate money to produce that is the best way to get out of such a major debt. If we continue to spend on other states instead of investing in our own then we will be screwed as a nation. For all we know we will feel the taxes for the next one hundred years or until we get out of debt. In order to get out of this situation we need to work together and make our economy strong by creating all of our products and supplies instead of investing else where.

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