What Happens if We Don’t Raise the Debt Ceiling?

What Happens if We Don’t Raise the Debt Ceiling?

Posted by Raquel on Apr 22nd, 2011 and filed under Political Blog. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

By: Mark A. Joppa (Mark is a tea party originalist in the Hudson Valley.)
I would hope that everyone reading this article already understands the ramifications of not raising the debt ceiling. The main point is the government will still be able to spend an obscene amount of money.  It does not mean we are broke, it does not mean we are bankrupt, it does not mean we will default on our debt or be unable to fund Social Security. None of these things will happen, but if you are stupid enough or so lazy you don’t do your own research in this extremely important time in our history, and take the word of a politician instead, I say you are part of the problem.
In laymen terms, not extending the debt limit is like reaching the limit on you credit card.  Hopefully, you are still working which allows you to pay rent, buy food, put gas in the car all because money is still coming in. You will not be able to take that European vacation because your credit card won’t give you anymore money. It’s the same with the government except on a far larger scale. Like us, the government is still hard at work also, extorting  about $2.2 trillion a year from the American people and that is just the Federal government. That means the government still can spend $2.2 trillion, that truly is an obscene amount of money considering we don’t really know where it goes, and that is heart breaking, but a different story for another day.
So, the Government is already spending about $4.5 billion a day, yes, they can spend $4.5 billion a day.  That’s 10 times too much. Taking into account that the interest on our debt is already $220 billion, that leaves approximately $1.9 trillion and change to spend before the government has to borrow one, single, solitary penny.  Seems like there is far more being spent, than what is needed.
How it works
The federal budget gets broken down into two main categories; non discretionary spending which is the money that has to be spent on social security, medicare and medicaid which comes to about $1.465 trillion leaving almost $480 billion left. That would cover the category called other mandatory spending, which is listed in the Ryan budget costing  $4.8 billion with just about the remaining amount of money confiscated by the government.   So, here it is:  The United States will still have the money to pay for every single high priced unconstitutional, social program instituted by the Democrats and George W. Bush, but we will have to fire most of the federal government, to prevent us from borrowing more money, or in other words – raising the debt ceiling.
Here are my answers to such problems (you may not like them):  We should have a lottery and pick one person from every state, put them together and let them read and define the constitution in everyday normal American speech not legalese living document speech, and see what they come up with. I hope I am not wrong about this. I would bet they would find that at least 80% of the federal government is unconstitutional, and it is only because of the compassion of the American people we have survived until today.  We cannot help everyone and there are people we are helping which should receive no help whatsoever.  The sooner people start following the Constitution as written, the sooner we will get back to being the greatest country in the world!
Social programs do not get paid all at once. That means we have enough money for almost 9 months of fully funded government. If the government instituted a real policy to clean up waste fraud and abuse at minimum, and I mean a bare minimum, that adds 1 more month.  With the cuts next year and a little luck that the existing tax rates will produce a surplus, it’s clean up time!  The GAO did an audit and found $125 billion in improper payments. The audit was only on payments more than $10,000, I wonder how much was really wasted?
(Sources: http://www.freerepublic.com; http://www.foxnews.com/on-air/on-the-record/transcript/how-does-government-account-125-billion-039b039-improper-payments; http://www.usgovernmentrevenue.com)
(Editor’s Note: Opinions of contributing writers is not necessarily the opinion of RaquelOkyay.com)