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Debt Ceiling crisis - what do you think??

I haven't been keeping up on this as much as I should be... what do you guys think about the debt crisis?  Do you think the govt will default? 

My FI works for the federal govt, so I don't love seeing cuts to the govt, but I'm sure there's some space for elimination.  I'm all for closing tax loopholes and letting old tax cuts expire (not raising taxes though).

Re: Debt Ceiling crisis - what do you think??

  • bgfst1bgfst1 member
    edited December 2011
    My fiance and I are both fed employees, and its scary to think that if they don't figure it out we'll have to keep going to work without getting paid!

    But, I think government cuts can be done. Encourage more telework/hoteling to decrease office space, less govt travel, decreasing the workforce by making it so for every 2 people that retire, only 1 person is hired in their place (lots of fed employees are nearing retirement!).  And I agree - a lot of tax cuts made during the Bush administration should be retired (which people will see as "raising taxes" but whatever). Also, enforcing people to pay their taxes will help, too - its amazing how many people get away with not paying their taxes!

    Anyway, I think they'll figure it out. It would just make everyone look bad if they don't come to an agreement before the debt ceiling hits, then no one will get re-elected.... and Congressmen don't want that!
  • edited December 2011
    They really need to reach a compromise.  I'm all for cutting spending, eliminating the tax loopholes, etc.  I don't want my amazing credit score to take a hit because the US defaults.

    bgfst-you make a good point with everything that can be done.  A lot of schools up here have been chosing not to fill openings that come from retirements. A few have also elected to take a pay freeze, which helped save four teachers' jobs in the district I was working. Maybe the elected members of congress could take a 1-year freeze on their salaries as well.
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