Why the US Won't Default Even Without a Deal

apple0154 said:
I'm not placing blame. All I'm saying is the people who champion certain actions should be the first to experience the results.

Conversations can and have gone round and round concerning what would result if the debt limit isn't raised. It's like telling a child/young adult not to do something but they keep insisting it's OK. There comes a point where further talk is unproductive and they have to actually experience the results themselves.
Click to expand...

This is nonsense. If you believe we would default, you should be running around with the fear mongers trying to get people scared. There is no other responsible action. It would be like somebody who believed children died during abortion suddenly saying it is okay because only your kids will suffer. If you believe it is a child, there really isn't a good reason other than to protect the life of another (the mother) that could possibly be good enough to quit fighting what you would consider "legalized murder".

The only thing I could reasonably understand from your lackadaisical attitude is that you too understand we wouldn't default on our debt.
 
IMO, defaulting, while causing an economic upheaval unknown in prior history, would be in the long run the best gift we could hand our grandchildren. At 14+ trillion and rising, we are way beyond the palest hope of ever actually paying it back. Better now than when the debt has reached 28+ trillion, or fifty.
 
apple0154 said:
I'm not placing blame. All I'm saying is the people who champion certain actions should be the first to experience the results.

Conversations can and have gone round and round concerning what would result if the debt limit isn't raised. It's like telling a child/young adult not to do something but they keep insisting it's OK. There comes a point where further talk is unproductive and they have to actually experience the results themselves.
Click to expand...

Then you have no problem with sending all those people who soley rely on Government handouts being shipped to States where Democrat Congress members are in control and letting them experiance the result of fulfilling those programs.
 
Why should the rest of the country suffer because of their position? Why should the citizens of New York or Oregon suffer because the representatives of Iowa or Michigan believe the rich should be richer?
Click to expand...

Because the 14th Amendment says so.
 
Damocles said:
The Federal government is scheduled to take in a bit over $170 Billion in Revenues in August, to simply pay the interest on the debt takes $35 Billion.

The government can pay the interest, avoiding default, then make some hard choices on what they were "supposed" to spend as to what can wait a bit.

The reality is the idea that we are going to "default" on our debt is a fabrication. It isn't going to happen even if there is zero compromise on either side and no "deal" is cut.
Click to expand...

I've been saying this for weeks, only to be called and idiot and fool by Nigey and other pinheads. In fact, when they were touting the 14th Amendment and claiming Obama could use it to raise the debt ceiling all by himself (a misinterpretation of the 14th), I said it would serve them right for Republicans to refuse to raise the debt ceiling, and then use the clause in the 14th which says our debts can't be questioned, to pay our debts without question, before defaulting. This would mean the money has to come from other spending, but we would NOT default... we WON'T default, no matter what.
 
apple0154 said:
I'm not placing blame. All I'm saying is the people who champion certain actions should be the first to experience the results.

Conversations can and have gone round and round concerning what would result if the debt limit isn't raised. It's like telling a child/young adult not to do something but they keep insisting it's OK. There comes a point where further talk is unproductive and they have to actually experience the results themselves.
Click to expand...
What? :palm:
 
Damocles said:
This is nonsense. If you believe we would default, you should be running around with the fear mongers trying to get people scared. There is no other responsible action. It would be like somebody who believed children died during abortion suddenly saying it is okay because only your kids will suffer. If you believe it is a child, there really isn't a good reason other than to protect the life of another (the mother) that could possibly be good enough to quit fighting what you would consider "legalized murder".

The only thing I could reasonably understand from your lackadaisical attitude is that you too understand we wouldn't default on our debt.
Click to expand...

Cutting programs the government promised, Medicare and Medicaid and SS and a host of others, is defaulting on the debt, technically if not legally. Let's say one placed their money in a bank and the bank promised a 10% return at the end of the year. Nine months later they arbitrarily change the rules and declare they'll only pay 2%. Would that not be defaulting on what they owed?

Not only did people pay into SS but they were forced to do so. Now the government is considering to arbitrarily change the rules! It's not an "entitlement program". It's a "government owes you" program. This nonsense about the government not having the money is just that, nonsense. They have the power to get the money by raising taxes.

How do they expect people to willingly pay taxes when the bargain they make with the government can be changed at any time?
 
Is the world economy teetering or is Europe teetering?

China is growing 8%, US 2% those are the two biggest economies.
Japan will get growth from rebuilding, Brazil is growing as is Latin America.
 
You must log in or register to reply here.
Back
Top