Found this to be a bit of interest since were closing in on the 75th time in the next week or so.... The debt ceiling has been raised 74 times since 1962, on average that's at least once a year, as you can see no one gives a fuck, if they did it wouldn't have been raised 74 times in 49 years. So here they are raising it again, anything you hear about spending cuts and raising taxes to help cut the economy pay off its debt is just lies, if they really meant it they would take drastic measures right NOW to start eliminating the debt this country is in! How many times has the ceiling been raised? Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Ten of those times have occurred since 2001. Expect more of the same over the next decade. Barring major changes to spending and tax policies, "Congress would repeatedly face demands to raise the debt limit," CRS wrote.
It's been raised 74 times because it is recognized as a routine measure to fulfill a vestigal statutory requirement. US spending should be cut but it should done in the budget process. For the US to default on it's obligations is not a sane way to solve this problem.
Market feeling the pressure again today without the rise in the debt ceiling, seems though once it happens which should be this week, possibly tomorrow the market should soar about 2-3% so get ready to buy the dip this morning only to see the market rally after the debt ceiling increase announcement!
as a nation the united stated is done. it had its moment and now its bankrupt. empires and great nations come and go. it does not feel good and nobody wants to admit it but it is the sad truth - i should know im english. we have not even got a navy anymore. no money left to run anything. we as well had our moment and now as a nation we are fucked. the rise of the periphery countries is staggering. we all had decent wages and a good standard of living and now its their turn at our expense.
I doubt it, wages in China are going up, and around the world for that matter. Manufacturing isn't where job growth is at. It's in technology, and other fields outside of manufacturing. The rise of the periphery nation is going from awful to a little better than awful. Eventually they will face the same problems we face today. In fact the USA has been in debt ever since the beginning. Even after the Revolutionary war we were in debt, and barely managed to get a budget surplus in 1840 which was 60 years after the war. The USA used to have a 75Million Dollar debt burden, and it could not export, or import goods from the European nations. So, therefore our situation seems pretty manageable in comparison to what our forefathers have gone through.
@ alexander what are you talking about the growth is not in manufacturing that it is technology ? maybe in the united states ya and that it part of the problem big company's are no longer doing the major manufacturing in the united states it gets out sourced where ? China and that would be one the the reasons for Chin'a GDP growth. you guys have no one to blame but yourselves with all the spending you do military wise etc to attempt to " keep the peace" or spend billions upon billions for new state of the art jets or missiles etc. instead of trying to put off like your some big ass super power and blaming European people for the problems today and talking about their debts and saving their ass why not cut things and take care of your own damn country. done ranting now go eat on that