Rep. John Conyers (D-Mich.), the ranking member of the House Judiciary Committee, said on Thursday that the nationâs current debt of $16.7 trillion is ânot endangeringâ the country, adding that âsome debt is not a bad ideaâ and that he and other congressional Democrats âdonât think thereâs a problem.â Conyers and other liberal Democrats spoke at a Capitol Hill press conference about their initiative to compel Congress to cancel the across-the-board budget cuts (sequester) of $1.2 trillion over 10 years, which actually are reductions in the rate of increase in federal spending and amount to $44 billion for this year. The sequestration reductions were triggered by the Budget Control Act of 2011. At the event, CNSNews.com asked Conyers, âRepublicans say if we donât make cuts to reduce the deficit soon that sequester cuts will actually be small compared with cuts we would need to make if we continue on this track [of spending]. Meanwhile, Leader Pelosi has said she doesnât think that we have a spending problem and the White House has recently said that we shouldnât balance the budget just for the sake of balancing the budget. That said, by canceling sequester would we then be manufacturing a larger crisis in the future and, if so, how would you justify those more severe cuts to the American people?â Conyers said, âLet me let you understand, first of all, that the debt is not endangering us a bit -- not at all. Our economists say weâre in debt but itâs not endangering everything. As a matter of fact, there are economists that say some debt is not a bad idea at all.â âSo all those ideas about the ceiling falling, the walls caving in because of that, you can sleep more comfortably in your bed at night when you realize that we donât think thereâs a problem,â he said. Conyers introduced the âCancel the Sequester Act of 2013,â on March 6 in an effort to reverse sequester cuts, which amount to 1.2 percent ($44 billion) of the federal budget this year, and started to go into effect on Mar. 1. The federal budget deficit for the last four fiscal years has not fallen below $1 trillion. The total national debt currently is $16,700,634,854,470.52. It was $10.6 trillion when Barack Obama became president in January 2009. http://cnsnews.com/news/article/rep-conyers-debt-not-endangering-us-bit-we-dont-think-theres-problem
Well, the guy is black, and if you know anything at all about the black culture...how much you owe ain't even a consideration.
that he and other congressional Democrats âdonât think thereâs a problem.â Hence the downgrade from S&P. If debt is not a problem, no point in raising taxes ------------------------ To borrow from Hillary. 'What difference at this point does it make?' Benghazi Prosecute banks Fast and furious A budget A debt ceiling In the grand scheme of this administration, nothing matters.
How much you owe doesn't matter, just the monthly payment and how many co-signers I need to get that Cadillac.