# Budget Near Collapse as GOP Leader Quits!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! **URL:** \ **Category:** The BBQ Pit\ **Created:** [June 24, 2011, 9:08am UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686 "2011-06-24T09:08:40Z")\ **Posts on this page:** 20\ **Page:** 4
**Author:** ![Gadarene](https://avatars.discourse-cdn.com/v4/letter/g/e47c2d/32.png) [@Gadarene](https://boards.straightdope.com/u/Gadarene)\ **Post date:** [June 24, 2011, 7:22pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/61 "2011-06-24T19:22:02Z")
> [@Darth\_Panda](#): > > I thought it was trillions to unicorns… > [@Gangster\_Octopus](#): > > unioncorns Well played. ---
**Author:** ![VinylTurnip](https://avatars.discourse-cdn.com/v4/letter/v/b2d939/32.png) [@VinylTurnip](https://boards.straightdope.com/u/VinylTurnip)\ **Post date:** [June 24, 2011, 7:44pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/62 "2011-06-24T19:44:12Z")
> [@Captain\_Amazing](#): > > Eric Cantor quit? What happened? Only temporarily. Brief trip up to the mothership to have his “human” skin refitted. The creepy smile was _technically_ correct, but wasn’t fooling anyone. ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [June 24, 2011, 7:53pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/63 "2011-06-24T19:53:33Z")
> [@RickJay](#): > > The Bush tax cuts quite certainly do not account for the enture U.S. federal deficit, as you seem to be suggesting. > > The Congressional Budget Office has produced estimates of an annual cost of $300 to $400 billion a year for continuing the Bush tax cuts; by way of comparison, the deficit now stands well north of $1500 billion. And how exactly, does a tax cut “cost” anything? spending more than is taken in is how debt is incurred. We have politicians that overspend regardless of the tax rate. It’s pretty simple math to deal with. ---
**Author:** ![Bosstone](https://avatars.discourse-cdn.com/v4/letter/b/22d042/32.png) [@Bosstone](https://boards.straightdope.com/u/Bosstone)\ **Post date:** [June 24, 2011, 7:55pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/64 "2011-06-24T19:55:36Z")
> [@Magiver](#): > > And how exactly, does a tax cut “cost” anything? spending more than is taken in is how debt is incurred. Which means that when we cut taxes unwisely, we take in less than we spend. So yes, that costs us. ---
**Author:** ![Gangster\_Octopus](https://avatars.discourse-cdn.com/v4/letter/g/a8b319/32.png) [@Gangster\_Octopus](https://boards.straightdope.com/u/Gangster_Octopus)\ **Post date:** [June 24, 2011, 8:13pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/65 "2011-06-24T20:13:17Z")
> [@Magiver](#): > > And how exactly, does a tax cut “cost” anything? spending more than is taken in is how debt is incurred. > > We have politicians that overspend regardless of the tax rate. It’s pretty simple math to deal with. How do you know they are overspending, debt is neither illegal nor is it wrong. In fact it imakes a ton of sense. If the governement is going to buy an aiplane at 10 million and it will last 20 years then they should probably borrow money and pay for it over its lifetime so that the benefits and costs accrue at the same time. ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [June 24, 2011, 8:16pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/66 "2011-06-24T20:16:50Z")
> [@Gangster\_Octopus](#): > > How do you know they are overspending, … When spending exceeds tax revenues. ---
**Author:** ![Typo\_Negative](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/typo_negative/32/484_2.png) [@Typo\_Negative](https://boards.straightdope.com/u/Typo_Negative)\ **Post date:** [June 24, 2011, 8:20pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/67 "2011-06-24T20:20:59Z")
> [@Gangster\_Octopus](#): > > If the governement is going to buy an aiplane at 10 million and it will last 20 years then they should probably borrow money and pay for it over its lifetime so that the benefits and costs accrue at the same time. But you end up paying a lot more for it. ---
**Author:** ![DigitalC](https://avatars.discourse-cdn.com/v4/letter/d/ebca7d/32.png) [@DigitalC](https://boards.straightdope.com/u/DigitalC)\ **Post date:** [June 24, 2011, 8:23pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/68 "2011-06-24T20:23:22Z")
> [@Stan\_Shmenge](#): > > Thank you, New York Times!!! My e-mail from you let me know this THREE times, as a news “ALERT”, as the lead in yesterday’s Afternoon Update, and again this morning as the lead in your Today’s Headlines! Thank you so much!!! > > Because, you know, we are undertaxed in this country, and those EEEEEVIL Republicans won’t agree to those much needed tax increases. God forbid that any of the trillions in stimulus sops to the unions be in any jeopardy. > > In other news, a pound of butter at my local Ralphs has doubled in cost from 1.99 to four dollars in the last six months. Way to manage the currency, you fucking asshat! I guess some more quantitative easing is in order. > > Maybe if we can get inflation to Wiemar Germany levels, the stage can be set for what this country really needs, a strong firm father figure to lead us out of our troubles. It would be fun to invade Poland.. If by “we” you mean rich people, then yes we are severely under taxed in this country. I’d say most people are at least slightly under taxed. ---
**Author:** ![zoid](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/zoid/32/336_2.png) [@zoid](https://boards.straightdope.com/u/zoid)\ **Post date:** [June 24, 2011, 8:28pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/69 "2011-06-24T20:28:51Z")
> [@spooje](#): > > But you end up paying a lot more for it. That’s OK, we can write off the depreciation. ---
**Author:** ![Inigo\_Montoya](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/inigo_montoya/32/124_2.png) [@Inigo\_Montoya](https://boards.straightdope.com/u/Inigo_Montoya)\ **Post date:** [June 24, 2011, 8:37pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/70 "2011-06-24T20:37:18Z")
> [@zoid](#): > > That’s OK, we can write off the depreciation. To whom? Boeing still gets the sale price no matter what the plane is worth on any given day after the transaction. Whomever lent the money still gets their interest. ---
**Author:** ![zoid](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/zoid/32/336_2.png) [@zoid](https://boards.straightdope.com/u/zoid)\ **Post date:** [June 24, 2011, 8:47pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/71 "2011-06-24T20:47:30Z")
> [@Inigo\_Montoya](#): > > To whom? Boeing still gets the sale price no matter what the plane is worth on any given day after the transaction. Whomever lent the money still gets their interest. Well I thought it was funny 😃 I was joking that the government could write off the depreication on it’s taxes to itself. I guess it wasn’t as funny as I thought it was. ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [June 24, 2011, 8:52pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/72 "2011-06-24T20:52:43Z")
> [@Chefguy](#): > > Meanwhile, as both parties madly scrape at their fiddles, the stock market burns in anticipation of the debt ceiling not being raised. Pension funds, IRAs, etc. take major hits, and retirement becomes a more distant dream for millions. Fuck all of them for a bunch of self-indulgent, tantrum-throwing, out-of-touch cocksuckers. If they don’t come to terms with the debt limit then outside funding sources will do it for them as we are seeing now in Greece. Strings will be attached to our spending. The longer this goes on the more cuts will be necessary to cover the debt. ---
**Author:** ![Gangster\_Octopus](https://avatars.discourse-cdn.com/v4/letter/g/a8b319/32.png) [@Gangster\_Octopus](https://boards.straightdope.com/u/Gangster_Octopus)\ **Post date:** [June 24, 2011, 9:00pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/73 "2011-06-24T21:00:13Z")
> [@spooje](#): > > But you end up paying a lot more for it. Please explain. ---
**Author:** ![Gangster\_Octopus](https://avatars.discourse-cdn.com/v4/letter/g/a8b319/32.png) [@Gangster\_Octopus](https://boards.straightdope.com/u/Gangster_Octopus)\ **Post date:** [June 24, 2011, 9:03pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/74 "2011-06-24T21:03:02Z")
> [@Magiver](#): > > When spending exceeds tax revenues. That’s not overspending. Overspending is when you spend too, it has nothing to do with how much revenue you bring in. By your logic, I am underspending if revenues exceed spending. ---
**Author:** ![Lobohan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lobohan/32/79_2.png) [@Lobohan](https://boards.straightdope.com/u/Lobohan)\ **Post date:** [June 24, 2011, 9:04pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/75 "2011-06-24T21:04:12Z")
> [@Magiver](#): > > If they don’t come to terms with the debt limit then outside funding sources will do it for them as we are seeing now in Greece. Strings will be attached to our spending. The longer this goes on the more cuts will be necessary to cover the debt. I don’t think you understand the gravity of not raising the debt ceiling. But then again, I could grow old listing the stuff you don’t understand. 😃 ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [June 24, 2011, 9:09pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/76 "2011-06-24T21:09:43Z")
> [@Gangster\_Octopus](#): > > That’s not overspending. Overspending is when you spend too, it has nothing to do with how much revenue you bring in. By your logic, I am underspending if revenues exceed spending. Yah, you tell that to the credit card company if you ever see the need to brighten someone’s day. [Overspending](http://en.wikipedia.org/wiki/Overspending): Overspending is spending more money than one can afford. It is a common problem when easy credit is available. This can also be called ‘investing’ in the public sector when infrastructure payments exceed actual calculated cost.[1] By my definition you are within your budget and have a surplus. ---
**Author:** ![Gangster\_Octopus](https://avatars.discourse-cdn.com/v4/letter/g/a8b319/32.png) [@Gangster\_Octopus](https://boards.straightdope.com/u/Gangster_Octopus)\ **Post date:** [June 24, 2011, 9:11pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/77 "2011-06-24T21:11:15Z")
> [@Magiver](#): > > Yah, you tell that to the credit card company if you ever see the need to brighten someone’s day. > [Overspending](http://en.wikipedia.org/wiki/Overspending): Overspending is spending more money than one can afford. It is a common problem when easy credit is available. This can also be called ‘investing’ in the public sector when infrastructure payments exceed actual calculated cost.[1] > > By my definition you are within your budget and have a surplus. We can afford to borrow money. ---
**Author:** ![Lobohan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lobohan/32/79_2.png) [@Lobohan](https://boards.straightdope.com/u/Lobohan)\ **Post date:** [June 24, 2011, 9:15pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/78 "2011-06-24T21:15:10Z")
> [@Magiver](#): > > Yah, you tell that to the credit card company if you ever see the need to brighten someone’s day. > [Overspending](http://en.wikipedia.org/wiki/Overspending): Overspending is spending more money than one can afford. It is a common problem when easy credit is available. This can also be called ‘investing’ in the public sector when infrastructure payments exceed actual calculated cost.[1] > > By my definition you are within your budget and have a surplus. You’re not overspending if you’re purchasing things you need. You’re not making enough money if you can’t purchase necessities. As it happens the government has the capacity to earn more money. And before you get all monkeypunch crazy on me, the congress decides what we need. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [June 24, 2011, 9:17pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/79 "2011-06-24T21:17:06Z")
> [@Magiver](#): > > If they don’t come to terms with the debt limit then outside funding sources will do it for them as we are seeing now in Greece. Strings will be attached to our spending. The longer this goes on the more cuts will be necessary to cover the debt. Ah, so it’s a _dry_ fucking, then? ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [June 24, 2011, 9:22pm UTC](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686/80 "2011-06-24T21:22:29Z")
> [@Lobohan](#): > > I don’t think you understand the gravity of not raising the debt ceiling. But then again, I could grow old listing the stuff you don’t understand. 😃 Greece is imploding from debt. The only thing standing between them and default is lending terms agreed to with outside sources. Nobody is forced to buy their debt. [Previous page](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686.md?page=3) [Next page](https://boards.straightdope.com/t/budget-near-collapse-as-gop-leader-quits/586686.md?page=5)