National Debt Ceiling: Dollar for Dollar Deal

Colleen - I would really like to see a 2 for 1, as in reducing spending by $2 for every $1 increase in the debt. Even if it will take until 2037 to pay off the debt, as long as we are not spending more than we are taking in, I will be agreeable.

I like the 2 for 1 option even better, let's start running this country like a business!

Colleen it would be a great start, i do know the government cant continue spending what they dont have... it is time for some real change.. this would make a good start

Oh such a great idea...either the dollar for dollar or the 2 for 1!   When we look at how many citizens are in trouble and dont' have the ability to make more money we can see what a "great" example our government has been for a very long time!   NOT!!!

It's a start. It's like Deborah says, our government has not been the greatest example of managing debt. How can we expect its citizens to do the same?

If this doesn't get under control soon, this country is headed for disaster. 

I'd take it one step further - make it 3-to-1 so we can get this great nation back on its feet even sooner!

It is beyond me to know what to do, but something has to be done. We have been out of control for so long it is scary.

Despite the alarmist statements in the media, there is no reason to raise the debt limit.  The situation is no different than if you "max out" the family credit card.  Once you're there, you MUST live within your means.  In other words, you can no longer spend more than you make. 

The Country "makes money" through tax receipts, and those receipts are still coming in.  All that needs to be done is to stop funding the projects we did not have the money for when we decided to commit to them.  If I planned on remodeling my kitchen, but had no more credit, I would simply have to tell the contractor; "I'm sorry, but I no longer have the money available to pay you so the job is canceled."  If our "representatives" in government wish to show the world (you know, the folks who fund our deficit spending through purchases of our Treasuries?) that we are responsible, and can be trusted as the source of the world's reserve currency, that is what would be done.

Colleen, I have little faith in our politicians to do the right thing.  We here in this blog could solve the problem in a few minutes and the world would still go around.  The leadership of both parties want and will get status quo.  So the debt ceiling will be raised, there will be promises of billions maybe trillions cut in the next decade, but not this year.  The Republican leadership has especially been out to lunch on this- look a lack of cuts in the negotiations before this.   Both parties are willing to go down with the ship.