The Debt Crisis Thread

[Susanann]

@Qin_Shi_Huangdi

What should be done about raising the debt ceiling and more broadly what should be done to start lowering the US’ massive debts and deficits?

My plans in order of preference:

1. The Gang of Six Plan-Provided there are no new taxes and it just involves elimination of tax breaks and loopholes (and thus simplify the tax cut) and the majority of savings are spending cuts I will support it (yes I am a fairly moderate Scott Brown-style Republican on most issu3es except abortion).
2. Cut, Cap, and Balance Plan-The vast majority of the Republicans in the House have approved it and I don’t think a BBA is unreasonable considering 49 states already have such a law.
3. McConnell Plan-Only a temporizing solution but at least it might raise the debt ceiling
4. Bachmann Plan-Opposition to raising the debt ceiling shows great principle considering President Obama himself claimed raising the debt ceiling during the Bush years was a “failure of leadership” yet the Republicans have overwhelmingly put country before party and have given up a magnificent opportunity to expose the hypocrasy of the President on the debt ceiling issue to save the country from economic crisis.

My plan is a lot easier and less complicated: ** Reduce spending.
**
Wasn’t that easy?