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Debt Ceiling Explained

Updated on August 1, 2011

What's this really about?

In less than two days, a relatively small group of people will have a great affect on many people in America. Most people do not know exactly how this “debt ceiling” dilemma works. If you are one of them, check out this video at before reading the rest of this hub.

Moving along, the bottom line of this dilemma is that the people in Washington can’t get their act together. That is the cleaned up version. It is one thing to mess up on your finances. It is another, however, to make someone else pay for your screwup. The main problem Washington has is that they spend too much money. Every Senator and Congressman (or woman) has certain “special interest” people that they are trying to appease. They have promised certain things as a result of getting elected. Now they have spent the money and they are trying to have America pay for it so they will get elected again next time around.

Then, of course, people would naturally expect the President to solve the problem. Well, he is trying to get elected again, so he is stuck between a rock and a hard place! Evidence of this is that in a recent news article, the President was pushing for the debt ceiling to be raised enough to make it past the next election! They even went as far to say how it would be difficult for the President to handle that situation in the middle of an election. God forbid he has to run the country AND try to get reelected!

If you haven’t got the point yet, just imagine a situation in your own household. You go out and max out all of your credit cards. Year after year, you keep asking VISA to raise your limits, and they do! Finally, VISA has had enough and they say no more increases. So, instead of curbing your spending and getting your house in order, you run to all your neighbors and tell them they have to pay for your errors!

My point of this HUB is to shed some light on what is really happening in Washington and how it affects you. Even if they pass this debt ceiling dilemma, they will certainly not change their ways. I believe that America is primed for:

Increased income taxes

Decreases in Social Insecurity benefits

Decreases in government programs

Increases in unemployment

Now Washington will have you believe that they will increase taxes only on the rich and corporations. I have news. The rich did not get rich by paying more in taxes. They will find new loopholes, move businesses, and cut payrolls to stay rich. The government won’t see a dime from them, so sooner or later, they will get it from what’s left of middle America. American corporations are fat with cash these days from slashing payrolls and all unnecessary costs. They did exactly what the government should have done!

What can you do about it? I believe the answer is this:

1.) Make more money

2.) Pay the least amount of tax possible

I have been teaching people these two things for the past thirty years with good success. Now, at this time, I do not have a web page set up to collect people’s emails. So, in the meantime, just email me at

and put “I AM READY” in the subject line. Once I get my site set up to show you exactly the way to do those two things, I will email you the invitation. Till then, stay happy!



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