Raising the debt ceiling?

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mom3girls's picture
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Raising the debt ceiling?

Now that Standard and Poor's has dropped our credit rating, and the stock market is reacting negatively to the increased debt ceiling do you think it was a good idea to raise it? Or should Congress and the President come up with a balanced budget before raising it?

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I do think they were going to have to raise it, just wish they had listened and cut the 4 trillion they were told needed cut so the rating wouldn't have been downgraded, especially since that amount is going to have to be cut anyway. The real place the cuts should be made is in the budget, so at least this is the first step so maybe they will listen and cut the next budget accordingly if they can manage to actually come up with a budget like they are supposed to. At some point they are going to have to bite the bullet and realize they can't keep spending money we don't have and quit expecting more taxes to cover the difference.

mom3girls's picture
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Gloria, I agree that they were going to have to raise the ceiling, I just wish they would have balanced the budget before raising it