The debt crisis

Hi sender, I think they have to put politics aside and do what's best for the country.Sure there would be complaining with even a small raise in taxes, but maybe it's necessary. Why not look at military spending and see if some cuts can be made there, and are the banks and other large corporations paying their fair share of taxes? Just some thoughts. Blessings.

If Congressmen will just quit trying to blame the other party for everything and quit trying to find ways to spin their opponent's efforts on the debt as "evil", we would have the debt ceiling raised and we could be moving on to how to run this country on a balanced budget for a change. Everyone is arguing over deals and tack-ons to what should be a simple yes-no question. Get that over with and move on! Wise up humans! Love, The Rat

I am not sure that it can be resolved. I know we need to keep our programs that help people, so doing something, I think well, I think those big rigs up on Capital Hill that get tax breaks need to STOP getting them. They make enough to support 10 if not more families each year, and so that it the biggest thing.

I am sure both political parties will come out with somethings to prevent default of the debt obligation. They can't stop their habit of spend mindlessly and excessively with tax payer dollar over the years and now; it is no question they will raise the borrowing limit to continue the present trend of going deeper into the debt hole they created for the nation until present congress is out of business.

I would solve it very simple. Instead of congress fighting like little kids, I would set up a national vote of the American people. Let the people speak as to what to do. Like, should the debt ceiling be raised? and should we raise or cut taxes? That way, the people decide what happens to the country. I think the republicans are off the hook and have brain damage. I also think that this country should do away with the parties. It shouldn't be two sides fighting the middle. I think we would be much better off. Even though the people vote for who is going to be president, don't mean too much. Remember, every politician lies just to get elected, then they make all the decisions. I believe the people should vote all the way across the board. They are all sitting pretty with all the money, while we the people have to go out and work to make the economy revolve. We pay all the taxes, we pay high medical bills, nit them. We should make the decision.

It's dangerous for the entire world! Just like 2008.

The government just spends way too much money on stupid stuff and then cuts spending by cutting out people that really need the help. I live in low income housing and about a year ago, I got a new refrigerator which was great...my old was was rusted and iced up and basically ran my electric bill sky high. Well about 3 months later they came in and took this new refrigerator as they did in all the apartments and replaced them with new ones. The old ones got trashed. They also insulated all the apartments and put in brand new thermostats, hot water heaters, doors and windows. They put in brand new smoke detectors also. Such a waste but it gets better. Guess what they are doing in a couple of months? They are tearing down all the buildings and putting up new ones and re-doing the parking lots which are just fine. They are building a new playground ....the old one isn't that old and was just re-built a few years ago. The apartments are old but they are fine. They are constantly doing work on them and I love my place just as it is. I work and pay a decent rent but many here don't pay much of anything because they don't work at all and are already getting full government assistance. Heat is included and my rent goes up constantly when the cost of fuel goes up. The ones on welfare don't get touched by it and those are the ones that will crank their heat in run around in shorts with the windows open in the winter. This has been going on for years and years and can't be blamed on either party...it's the government itself.

I think those hardheads in washington need to think about the people that will be affected & quit thinking about themselves like they do. Social security should not have ever been touched. Working people paid that in for their security in there 'GOLDEN' years.

TO be honest, the only reason my country is crumbling was because of corruption and prices increase in commodities because of the prices of the oil in the foreign market. they kept rising non stop

The governoment officalls can't learn to agree to disagree and come up with a spending plan that will raise the debt sealing without making more cuts or raise taxes to outrageous highs. To hell with how it's effecting the already week and collapsed ecconomy. They seriously need to come up with something that'll suit both parties, or put some of their own money into the federal reserve. Yet, they don't want to do either and needless to say time is running out. The details of what's going on are unclear to me, but this opinion is based on what information I do know. Which mind you isn't much, and is reported naturally through media outlets. While the debt crisis is concerning it's out of our control. We can worry about it, talk about it and even stress over it... but in the end we're not the ones to make the final decision. All I do know is not enough time and thought is being put behind this because officalls are litterally scrambeling to come up with a balance and when you do that you don't put enough thought or effort behind what you're doing. I do know, that raising taxes or making more cuts won't solve anything. Neither is a smart answer to this problem. Now what I don't understand is how if so many aAmericains are out of a job, and businesses can't aford to hire anyone because they aren't bringing in enough to pay anyone and still pay their taxes... how are we ever going to get out of this loop? And, this is the "low" end of the sperectrum. Then you have the high end, people somehow able to make six plus figures easy just by doing singing, acting or working in public office. They don't have to worry unless the stock market crasshes (again) which if so many people rely on stocks, then that's quite possible because stocks rely on business... and it eventually goes full circle. So the rich should be putting money into the reserve. Our troops need to come home, and officals need to get their heads out of their arsses and come up with a decision that will solve the problem without having a shockwave effect on the struggeling ecconomy.

Personally, I think the American Parliament should have a vote of confidence, since no agreement can be made. That's what they did in Greece, but the Greek gov't survived their confidence vote and took measures to avoid a default. Their economy's horrible, but they're a strong people, they're working on their system. And yes, Greek parliamentarians introduced 22 new taxes - if raising taxes is what it takes to deal with major debt, then so be it. I'm wondering what will happen if the American gov't comes to a default. I would have no issue of paying taxes - in fact we pay high taxes here in Canada, and we're doing pretty good, a half a trillion bucks in debt. I know the Americans are very much against paying higher taxes, but please do keep in mind that taxes are one source of the gov't's revenue to run the country. I'm even starting to hear some strange conspiracy theorist that American President is actually delibeerately trying to default his gov't to make some sort of dictator or communist country. This is getting way out of hand, and personally, I don't think that's the case, LOL I'm a Canadian, and I'm concerned how it's going to affect trade relations as we're one of USA's strongest allies, especially the oil and lumber. I'm not sure if I take the threat of not getting welfare/old age pension cheques lightly, I'd treat it "as is" and prepare for it if I were an American citizen. PS - I'm also in personal debt and I'm being proactive in paying it off. I should be debt-free in 6 more years, if my calculations are correct. I'm paying down my debt's principle. I think any gov't should work on paying down their country's debt. Like so many others, I'm also watching and waiting to see how this will all come to pass, and how it'll affect us Canadians.

Perhaps the thousands of politicians can take a pay hike. That will definately help. My intro to politics professor sat on the city council. Upon his appointment, he was given a 100k per year office budget besides his salary. Try to call his office? lol.

Howdy!! The problem is that the U.S. government have spent many of billions of dollars on weapons of mass destruction and not mentioning the troops sent to the middle east to fight somebody else war. They have spent this amount but off course they have borrowed money from the World Bank not letting us know about it. The president is doing the best he can to resolve this problem but the best way to resolve this is for him to step down as a president and let another take his sit.

I think Its a diifficult question for great economists too. However I believe every one should play there role properly here. One should understand there financial limits, take the right amount of loan (if really required) which they think can they can pay easily. Keep paying there EMI on time. Pay taxes honestly etc

In my home country a house is an expensive purchase so most people require a mortgage. It is the same situation in the United States of America. Lots of people buy using a credit card and can only pay off the minimum amount each month. I hated it when I built up a two thousand pound debt on my credit card. Every month I paid off as much as I could afford and it was a joyful day when I got to a zero pounds balance. I never used that credit card again. I think people should be encouraged to budget carefully and only buy what they really need. Food is an essential purchase but money could be saved on clothing buying for example.

They need to pay Peter to make Paul happy and all that kind of financial mumbo jumbo. I don't know but I am depending on that money to come through and it better or I am going to be in a world of hurt. I sure don't want to be on the street with no home or food. And I don't want that for my daughter and grandson.

Oh gosh..that is the million dollar...or should I say billion dollar question. It has been coming for a long time. I pay as much in social security as I do in taxes everytime I get paid and they say that when I do get old enough to draw it, it won't be there. I think there is alot of things that need to be considered. We have already ended our space program and they haven't presented it as a money issue but I think it is. There is also the wages of the officials that I think should be taken in to account. That could help a little but it is certainly not going to "fix" anything. We have been in war for a very long time and I am thinking that it is costing a crap load of money to continue that. I don't think there are any easy answers to this one. They need to decide something though.

I watched the night news just now and they mentioned about the crisis that USA need to settle the problem before second of August. If they can't settle it it may give huge impact to other countries as well. Hope they will find ways to settle the issue.