The debt ceiling is something that as a country we argue about, but we never seem to get anywhere with it.
It always amazes me how people believe that we as a country can overcome what the government has done within just a short period of time. There is no quick fix for such a disaster, and it puzzles me how so many people are blind to how this debt was created.
Just as we should each have a budget set forth for ourselves, so should the government, and it’s important that the government stick to it.
I want to share what the ceiling is, how we could avoid reaching it, and why it seems some things will never change.
What is Our Country’s Debt Ceiling?
As the economy has continued to go south one of the most commonly asked questions has been what is the debt ceiling in the US?
That is a great question, but no one seems to have a standard reply for that. If they do, no one seems to be aware! As a country we have continued to spend money that we don’t have thus resulting in the debt we have today.
However, Federal law does require that Congress be able to spend money when needed to pay for any programs that Congress has passed. Sound convoluted?
Yes, it is, and there is more where that came from!
The National Debt has grown and shrunk, but as we have watched over time no doubt the debt has hit that magic number over and over and most recently the past few years.
The sad part is that there are votes to raise it. Do you think that we need to raise our debt ceiling any further?
In May 2011, the debt limit for our nation was set as $14.21 trillion. Need I say more?
Could the Price of Gold Help Us Reduce Our Debt Ceiling?
Now that you know what the debt ceiling was as of May of 2011, and we are in the year 2012, what are your thoughts?
My thoughts make me pretty angry, but the reality is that nothing much will help unless we stop our spending. Spending isn’t bad when it’s being done with the right programs and with the right countries.
Just when Vice President Biden had announced that there was a plan for the debt to correct itself that idea seemed to collapse the following month.
The price of gold has been climbing, but that isn’t a good thing. I often hear conversations that make me shudder because people are talking about gold being at a high price is a good thing, when it is just the opposite.
Folks, the higher gold goes that means that the dollar is continuing to lose value. Think about it, countries don’t want to buy our treasuries when they no longer have a reason to do so.
It’s time to consider that buying gold for you is more ideal than relying on any plan the government has.
If you want to learn more about the debt ceiling and how it has driven up the price of gold, then CLICK HERE today and I can answer those questions for you and help you buy the gold you need for the future.
Tags: Debt Ceiling