Increase exports, not debt limits.
Pay our bills, not the oil companies to get even richer.
Gee, how many times have we heard this story. Probably began with 1 trillion
dollars in debt. Now we will be at 17 trillion in debt. And what will happen
again by next year? "We just have to raise the debt ceiling to 18 trillion
or the country will not be able to pay its bills". Until we get a President
and Congress who will be willing to stop this spending madness, it will
continue. That is until countries like China stop it for us by either not
buying our debt, or by insisting on huge interest rate increases. However, while we are at it, why doesn't Congress and the President just
make the debt ceiling 100 Trillion Dollars? That way we won't have to have
this argument every year. Sound like a good idea?
Mark B,Government get more money in taxes from oil, then the
companies make. Who is really getting richer?
Stop and think about what Obama is telling us. He says the money has already
been spent and we'd be wrong not to raise the debt ceiling to pay our
obligations.But he never really talks about the truly noble thing to do;
lower our spending so we can learn to live within our means.There's
no great nobility in borrowing more money so we can continue to spend.I'm convinced that Washington cannot fix their addiction. It will take
an external force to wake them up. I suspect it will be our loss of status as
the currency of the world.And that will drive up the cost of borrowing.The only rational hedge against that happening is to reduce the amount we are
borrowing and show the world that we are changing course in government spending.
That will preserve our global standing and maintain low borrowing rates.
worf - Sounds great in theory. Too bad companies like Exxon Mobil don't PAY
We all know bad things will likely happen if we default on our debt, so BO needs
to get serious about deficit reduction.Mark BBO has been in
office 4 years now and you admit he still letting Exxon Mobile get away without
paying taxes? I wonder how much they, like GE, contributed to his re-election
fund and to the DNC?
Mark B,When you pay at the gas pumps,--the feds aren't getting
a tax for each gallon you buy? Is this what you're saying?Did
the oil companies cause the almost seventeen trillion dollar debt?The debt has increased seventy percent in just the passed four years, and
you're blaming the oil companies?
To "Mark B" the government doesn't just collect income taxes from
oil companies. They also collect royalties and gasoline taxes.Here
is one example of how the government makes more money off of oil companies than
the oil companies make off of their own products. Currently oil companies make
7.31% profit on a gallon of gasoline. That means that at $2.75/gallon the oil
companies make $0.20. Meanwhile you are paying about $0.50 total taxes for the
same gallon.Now, add on to that the 12.5% royalties for the oil,
plus the cost of leasing federal lands, and you find that oil companies pay the
government more than the profits that they make.
lost in DCRedshirt1701Thanks for the insight, and info.
I've something.Mark B is an example of a citizen believing
false propaganda circulating through our country.