Hey Congress... why not just raise the debt ceiling to $100 trillion and be done?

Idiot Borrow & Spenders.

Borrowing to create yet more government programs is taxation without representation. Our children and grandchildren have to pay for all these government programs yet some of these citizens haven’t even been born yet.

I wish they would all go home.

As long as they show up for work, we get more spending and new laws.

And we run up more debt. You know those idiots are going to raise their credit card limit again… and we get their bill.

I don’t think our kids and grandkids will have to pay back the debt. But they will have to survive the collapse when we default on the debt. The default I am talking about is not one our leaders choose to bring on but the one that our creditors choose for us. There is a chance there will be high inflation (possibly hyper) which would diminish the debt as well.

Please default. My grandkids didn’t get to vote for all this spending on new government programs.

The sooner we default the sooner China stops loaning these idiots money that our grandkids have to pay back.

China has really slowed down its purchases. Their total holdings were actually lower in 2012 than 2011. But more concerning is that China has been rolling over their holdings to shorter term bonds.

The largest holder of our debt is the Federal Reserve. They have printed money to buy treasuries. They call it quantitative easing but historically economists have called it monetization of the debt.

Thanks. China is getting smart.

As long as we have a printing press, we will continue to over spend.
Just like a drunk, our gov’t cannot stop.

Quantitive easing= You buy an IOU with another IOU!

I don’t think China ever expected to get paid back. They bought US treasuries to keep their currency cheaper to help their exports.

Without a reasonable choice for a new reserve currency, I think China will hold its position for a bit longer. China has a very small reserve in gold and trade/currency agreements with other nations are being formed but I think its a ways off before they will choose to decouple (in terms of holding our debt). Decoupling right now would likely hurt them more than it would help them. But they are taking the steps needed to prepare for a future decoupling.

Exactly…That is an example of a trade/currency agreements I was referring to.

They just said on the news that China is the largest holder of our debt. I am not worried about any of it. Who do they think will buy all of that cheap plastic (well, anything they make) and lead painted crap they send over here and peddle through Walmart. Settle down boys. It will be just fine. We can’t lose Walmart after all. Personally, it is time to throw out the party system in this country. People should run as individuals and work for their districts…never their party. I am tired of all of them. Both groups, equally.

Tea Party for me. I’m not into running up unsustainable debts on more government programs or military invasions of other people’s property.