Debt Ceiling Anxiety

I take it as they are learning their lesson! TOO MUCH SPENDING. Period. That is how this became a problem. So, since this makes sense- it isn't shocking. If this is what needs to happen to show people that too much spending is a bad thing then SO BE IT!

I think this speaks also to Americans that live beyond their means. Credit card debt, defaulting on loans etc. We need to get back to the basics. Work hard, and stop being selfish and lazy.

Its NOT keeping me up, but feel CONCERNED as it is a very COMPLEX issue. Thought if i write this in CAPS, it would look like i'm SHOUTING. Wish i could use ITALICS and BOLD, as well. :-)

Dawn B. hit the nail on the head.
Why are we even discussing cutting programs that benefit us, and not the war machine? So, why are people against raising taxes for the wealthiest? Are you saying it is a better idea to cut money for the poor, the old, the sick, and the children? Or, should GE (who paid ZERO taxes last year and got a refund), or muti millionairs pay a few percent more? I guess as a mother, and a daughter of senior citizens, I am baffled how anyone thinks this is a good idea. Do you realize we are the richest country in the world and we have the weakest social safety net of any 1st world country? I sincerely hope you all end up on the right side of the fence when our cities turn into Rio, Brazil. Shiny cities of wealthy people, separated by fences from tent slums. This is where we are headed if we don't get our priorities straight. That is what keeps me up at night. They will raise the debt ceiling regardless of the cost to all of us.

No. I cannot change it. I cannot fix it. Therefore, I do not worry about it. Obama is using scare tactics and you are obviously falling for them.
Go to bed.
LBC

A little, I think that if we default it will be a disaster beyond anything we have ever experienced...which is why I believe they won't let it happen. Just like with the Gov. Shutdown last time.

I think both sides are to blame. I think that each side has a point to prove, and it sickens me that they are using, not only our own country, but this time the whole damn world hostage, so they can squabble over ideals. I thinks it's pretty damn disgraceful that some of the Republican party has said that they will "Do no deals as long as Obama is president" Really? You are going to destroy our country because you don't like the president?

I also think that if they let this thing go to default the American people will revolt. I mean REVOLT, in the streets signs waving, marching type revolt. I think it might get ugly. Again another reason why I do not believe the will let us default.

Edit* I also need to add that I think that leaving the tax breaks they are would be nearly criminal. You can not just cut spending, you have to create revenue. It needs to have a balance of the two. Seriously if you just cut spending but have no more new income how in the heck do you cut down the deficit? You don't you just go round and round the current debt ceiling. You think companies will start laying off people if they get taxed more? Maybe but look at it this way, Bush came into office and offered all of these huge tax breaks, where are we now? In the biggest recession we have faced since the depression. HMMM...guess that didn't work! Obama kept the tax breaks, so where are all the jobs? Still at 9 percent unemployment tells me the tax breaks do nothing but increase profits for big companies. When Clinton was in office the unemployment was at it's lowest and we had a projected surplus. What a Dem with a surplus?! How can that be? Also if companies start laying off people left and right again, it will make them look weak, stock holders will start to pull back again. Companies simply can not afford to do that, now is the best time to rescind the huge tax breaks. There were hundreds of companies who made RECORD profits in the past few years, yet the American people are suffering. Ask yourself why is that?

It takes 2 to play chicken and both sides have to be as stubborn as the other.
10+ years of tax breaks for the uber rich have done little to help and 'trickle down' never has.
I think it has more to do with politicians wanting things to fail so they hope their side will rise from the ashes of the disaster they are creating/staging.
It stinks as if a pro wrestling fight coordinator is scripting the whole broohaha.
There's nothing we can do about it but turn off the tv and quit reading news.

This whole debt ceiling debate is getting on my nerves. On a personal level it would be like saying to your boss increase my income or I will not be able to pay my debts ignoring the fact that you go to Maui every year. Get rid of Maui and then I will be worried our country may default on their debt!

We are sending billions to help other countries and waste trillions because of too many levels of bureaucracy and those levels can't even find the fraud they are supposed to. If they want my attention work on fixing the internal structure of government so we reduce the debt!

Oh gad Amy, read the tax code, rolling back the bush tax cuts would increase the tax rate for people making $15,000 a year, oh yeah they are rich!

Oh yeah, an interesting side note for those worried about social security. 2010 was the first year social security was not fully funded by what came in through payroll taxes. In other words it was a wash in 2009 and in 2008 the surplus was still being converted into bonds that can be redeemed if the payroll taxes don't match the output. Although the government is allowed to allocate the payroll taxes to any government output no president before has ever done this. So either Obama already spent our FICA taxes on something other than the retired of American or he is blowing nonsense with the threat that the government cannot pay the benefits!

Honestly folks I will tell you the same thing that keeps my kids from being afraid of that which should not be feared, facts!! know the facts and you will not be afraid!!!

Yes it makes me sick & worried for my families future

Don't let Obama fool you he can push this thru WITHOUT Repubs vote. But he doesn't want to because Dems don't want to get blamed when it does fail.

BUT hearing how most moms on here blame the Right side is what makes me even sicker. Yes both sides can be blamed for this crisis but who's been in power & if this was sooooooo uber important to Obama why hasn't he come up with a plan LONG ago & postponed it ON PURPOSE several times, he could have got this done when Dems held the House & Senate.

Remember Repubs were voted in cause they promised to stop spending. He is in charge so take the bull by the horn & get er' done, stop blaming the other side.

Repubs have come up with proposals yet he just slams them. Repubs were voted in to STOP the spending. But Obama is like a crack addict & just can't stop the spending.

Repubs have been begging to *fix* social security for decades & Dems say no because it's not broke. YET Obama makes a scare tactic that checks won't go out Aug 3rd, excuse me if it's NOT broke then why can't the money be sent out? Please people wake up the CHECKS WILL GO OUT, but it probably won't be there when it's our turn.

I cope with this by educating myself which side is being the most destructive & exactly who is not good for our country & making sure I vote when the time comes.

And it makes me SOOOOO SICK that Dems have people believing that Repubs want to cut off/hurt innocent people from basic human rights. That is a bunch of hogwash ignorance. Even our poorest of poor people are doing better than the poorest in any other country. People in our country will never turn down helping ANYONE in our country. People just need to ask & believe me they receive from many many sources. And there are lots of polls out there that show the most generous side is Repubs.

These responses make me laugh. If it's a Dem in office the Repubs blame him and if it's a Repub in office the Dem's blame him. So let's look at what Obama has done to our country in the time he has been in office. For real!! Start looking at FACTS people. So many people who voted for him have seid they will not vote for him again...thank God. It is not the Republicans that caused this. It was the insane blank check spending that has been going on. Also, entitlement programs are things like food stamps and welfare - get a grip on those programs and make them work RIGHT and not serve as a way of life for people. The rich should NOT be working to pay for those who don't...we don't live (yet) in socialism.

Well, I am angry. However, I do know that if social security checks, disability checks,etc...do not go out to 70 million deserving people on August 3rd, it will be a moot point. If this happens, I believe that the American people will FIRE BOTH PARTIES.

I struggle with anxiety, but this does not worry me. I read the brief summary section in the Wall Street Journal to keep a pulse on what is going on in the world, but I intentionally do not watch the news. It is poison for an anxiety-prone person like myself. I focus my time and energy on things within my influence that I can control. I pour my energy into our family budget, since I can do something about that. I am working very hard on doing everything in my power cut my own spending to pay off our house and I avoid debt like the plague so that I don't need to personally default on anything. Seriously, please turn off the TV for your mental health. The news is so negative and not meant to uplift or enlighten.

Mamaof3 I wish I could give you 100 flowers. I agree completely. Ignore the scare tactics and learn what is really behind things. The media is playing into the politicians hands. Don't you think there are plenty of other areas that the government can cut before they start cutting benefits (such as social security) that we have already paid for? But they'd rather scare you into giving them what they want.

Do what you can to take control of your own finances (we used Dave Ramsey and it changed our lives for the better) and don't worry about the rest. NO president, democrat or republican, is going to make your life better, get you out of debt, find you a better job, etc. no matter what they promise. That is YOUR responsibility. Focus on your own family and do what you can to find security for YOU and don't worry about the rest. Hugs!

No, I don't have anxiety over it. While it's stressful, and it makes me angry... it's pretty much out of our hands for the moment. All we can do is prepare for rough times ahead and stay strong in our families. I have learned, that when I become too emotional over current events, to turn off the news for a few days and to do something productive and happy in something that actually matters in my home and community. As for late night stress, jotting things down in a little notebook by your bed and doing like 'brain dump' can help with that. And staying off the computer too. With that said, I am signing off as well!

Here is some actual advice on how you can be proactive in dealing with it in regards to your own finances:
http://www.tampabay.com/news/business/personalfinance/som...

Mama:

I too am stressed over it - but not so much that I'm not sleeping over it..

The media knows how to hype everything up and use it to their advantage..you are also buying into the scare tactics that Obama is using...sorry - that's exactly what they are - SCARE TACTICS...instead of fretting over this - google it - LEARN about it...CALL YOUR REPRESENTATIVE...Encino falls under LA or does it fall into El Segundo? it's been sooo long since I've lived in CA...any way - instead of losing sleep - do something about it - CALL YOUR REPRESENTATIVE and tell them to pull their head out of their BEHIND and get this resolved...once WE THE PEOPLE start taking control back over our ELECTED OFFICIALS (Please remember - THEY are OUR EMPLOYEES!!! NOT THE OTHER WAY AROUND) things will change...they are there FOR YOU and because of you - not for themselves...

Defaulting on our debt would be a horrible thing...our elected officials need to pull their heads out of their behinds and stop glad-handing, finger pointing and saying "well, Bush did it." I'm SICK of the excuses...DO YOUR JOB!!!!

The debt ceiling is different from the national debt...you understand that right? you understand that some in Congress want to hand more power over to the President - which I don't care who he/she is - the reason we have a Congress is for checks and balances - so that no one person can make a decision that can jeopardize us, our country.

What's worse? Is that none of them are being adults - they are all being snot-nosed brats on the play ground and forgetting that the playground is our livelihood.

Entitlement programs MUST BE CUT. Endowments/scholarships/grants to things like NPR (while it serves a good purpose) should NOT be government funded...while taking away their perks (full life time retirement pay) is only a drop in the bucket - it MUST be done....also doing away with Obama-care would save us TRILLIONS...while I admit something MUST be done - Obama-care was NOT the answer...

I'd love to have a Congress that can do something without making it into a a 10K page book....I'm sick to death of the ear-marking - something that Obama campaigned to STOP but has only gotten worse...and it's NOT from just ONE party - it's from BOTH parties...URGH!!! (how big and bold can I make this?)

CALL YOUR REPRESENTATIVE!!!!!!!

Yep, debt is one of those "all night" issues. Your brain can't shut off. We took a Dave Ramsey Financial Peace course in the summer at our church last year and it has changed EVERYTHING! You need a plan. Planning reduces anxiety. Good luck-it's not easy but you can do it!

A few respondents talked about taking Dave Ramsey's Financial Peace University. I completely support this. Go to http://www.thegreatrecovery.com/home/ and see the grassroots movement Dave is starting to address the issue you're talking about. Watch his kickoff event. Dave talks about starting from the bottom up and we, as individuals, need to get our own debt under control and stop borrowing. We are a society of borrowers and it needs to STOP! on ALL levels!