Your new post is loading...
Video on msnbc.com: NBC’s Kate Snow spoke with CNBC’s Andrew Ross Sorkin about the debt ceiling and what happens if Congress fails to raise that limit so the government can borrow more money to pay its bills...
|
Scooped by Teresa Herrin |
Scoop.it!
I am honestly befuddled by this entire predicament. Even after gathering an understanding of the debt ceiling and its impending deadline, I fail to understand why our country's elected officials, this country's highest legal authority, cannot come together and do what is best for those they represent, those who gave them their seats.
It seems that America has very little options, with all of them most likel going to spiral downhill. One question I would like answered is what does the government need to do to get to a point where it doesn't need to borrow money? I think that paying foreign nations back in small amounts would be best; borrowing more and raising the debt ceiling is what placed the goverment in this situation anyway. There are many other ways but I think that that would be the best way.
If we do not raise the debt ceiling, American citizens will experience an extreme loss of goods and services provided by the federal government. Then the government would have to decide if they want to pay back foriegn debtors (like China) and let Americans suffer, or supply goods and services to Americans and let the debt to countries increase until we do not have money yet. The states may have to step up and provide the services that the federal government can't.