Seth CotlarBecause, like Republicans, I believe that running a household’s budget is the same as running a nation, I’ve informed my credit card companies and the bank that holds my mortgage that I’m simply not raising my debt ceiling and will not be paying them. I’m sure this will be fine.
Something needed to be done to rein in my household's spending, so I figured that touching off foreclosure proceedings for which I'll have to hire a lawyer, being hounded by daily calls from debt collectors, and tanking my credit score would be just the spur I needed to shape up! And if that doesn't work, then being evicted from my house and then having the car I'm living in impounded will surely be just the kick in the pants I need to get my life together!
Some people are suggesting that this will send my household into a disastrous financial death spiral from which we likely will never recover, but I think such people just don't understand how effective tough love can be. I know this because the guy who led my spin class at the gym sent me a meme about it once. I'd consult with him about this but unfortunately I'm banned from entering that gym again because they didn't respect my decision to stop paying them because I hadn't raised my debt limit.
All I can say is, nothing says "we're the party of fiscal responsibility" like defaulting on the national debt!
Palin@sethcotlar
I like the part where Trump racked up 7 trillion ,& Biden has already erased over 1 Trillion of it...
Funny how they weren't too worried about raising the debt ceiling when they had the majority...
Rules for thee
Not for me
I like the part where Trump racked up 7 trillion ,& Biden has already erased over 1 Trillion of it...
Funny how they weren't too worried about raising the debt ceiling when they had the majority...
Rules for thee
Not for me
ChrisU
jonny (good kind)@sethcotlar I saw this before I saw the above context and I was like omg thank god I am not alone in just ignoring all debt as a life strategy.
Danetteb2@sethcotlar definitely! I told my HOA sorry, I definitely will not be paying more this year. And Xcel energy… you cannot charge me more for electricity either. I have a budget.
RichardOntario@sethcotlar To be most effective and proactive, you simply need to pay all your obligations using a different credit card
BlackDutchSnark@sethcotlar sure, what’s the worse that can happen?? Oh yeah, they will sue you and take your stuff…but other than that…
Kevin Karhan 
@sethcotlar #DebtCeiling is just a form of #Racketeering and the systemic uncertainty is why I'd never buy U.S. government bonds.
Even #Japan with 250% debt has better #CreditRating as they at least pay their interest and rates on time!
Also the original spending had been approved already...
volkrisThe debt ceiling isn’t racketeering.
It’s merely the recognition that the legislative branch is the one authorized to commit to borrowing on behalf of the population it represents, and the debt ceiling is just the total amount that it’s authorized in borrowing.
@volkris @sethcotlar the #DebtCeiling system is absurd as no other nation of relevance for the global economy besides the USA consistently fails at it - espechally when it's not as if the Government can just spend more than what was already approved before.
Thus it allows for paradoxical bs like requiring the Government to spend Amount x on A to Z but without being allowed to actually have amount x cuz that's bigger than debt limit y - existing debt w.
@volkris @sethcotlar it's like playing Russian Roulette with a fully loaded Stechkin set to full-auto instead of Nagant Revolver and then complaining why noone wants to dare...
Kinda like demanding to "fry eggs" yet ban both heat and food-grade ethanol to make the protein stiffen up...
blahbah@sethcotlar since they're the same, I can just print more money.
Hold on, someone's at the door...
Hold on, someone's at the door...
The element you’re missing from your analogy is that the US takes in plenty to pay its debt obligations, so there would be no reason not to pay these regardless of whether it enters into even more borrowing.
In your analogy, your household income would be high enough to pay your obligations on the mortgage and credit card even if you decide not to take out a second mortgage.
Spocko@sethcotlar I'm doing something similar. I've been spending billions on crappy fighter jets and aircraft carriers. I'm not going to stop, I could stop paying for my family's health care to cover the cost of this jets but I don't have to! Since my family budget is like a government's I can spend more money on both!
I' just turn on my ink jet and print more money.
I' just turn on my ink jet and print more money.