popper wrote:I know most people would rather I not post here and I've been trying hard to accommodate but…..
We've been over this before and I know most here understand the technical definitions that apply were the debt ceiling not increased.
The federal govt. is in no danger of defaulting on its debt. The only possible way that could happen is if the president decided that future payments to NPR (and other programs where obligations to fund in perpetuity don’t exist in law) are more important than paying back the people and countries that loaned us money. That won’t happen because the president is not an idiot.
The real issue is that many gullible Americans have been hoodwinked by politicians into believing that we can continue to borrow, spend and print money without restraint.
Credit rater sees no risk of US defaulting
By Peter Schroeder - 10/09/13 12:12 PM ET
A major credit rater expects the Treasury Department would avoid default if the $16.7 trillion debt limit were not raised.
In a document dated Oct. 7, Moody's Investors Service said it believes that if the borrowing cap were not increased, the government would prioritize making interest and principal payments on its outstanding debt above other government bills, even though the Treasury Department has repeatedly called prioritization plans unworkable.
"We believe the government would continue to pay interest and principal on its debt, even in the event that the debt limit is not raised, leaving its creditworthiness intact," the rater said.
http://thehill.com/blogs/on-the-money/b ... mit-boost-
POPS POPS POPS.
First, US debt is US debt. The Constitution doesn't say ... we will only not default on interest payments and principle on some debt. We have obligations. The government owes contractors. SS, etc. That is all debt. From what I hear, we don't even have a system set up to pick and choice which gets payed like you suggest. There are millions of payments that go out.
"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."
2nd - just what do you think is going to happen when the government drastically reduces payments ? Yah think it might just have a little economic impact ? Its going to reduce tax revenue even more as GDP srinks. Its going to put up more in debt and when the US sneezes, the world catches a cold. And millions of people are going to suffer. Besides where is your rational logic,where is you heart ?
THIS IS INSANE. We have debt issue to deal with over the long term and we have been. Things have been getting better. We got past falling of the fiscal cliff part and economic collapse that was the results of Bush policies. So why are we creating these self inflicted crisis ? Be honest. Who would want to do that and what do they have to gain ?
We needed to do the opposite. We need to have more jobs and a growing GDP. Thats how you get the deficits down and get back to an eventual surplus. Not by cutting throwing a wrench in the engine that causes it to stall. You devert spending to wiser investment like infrastructure instead of war.
PEOPLE. REALLY. I GET YOU HAVE YOUR BELIEFS. But at this point are your the guy sitting in the corner mumbling to yourself. This is .. go see a shrink stuff here. This is Branch Davidian, Manson Family stuff we are talking here. Stop watching Fox, listening to Rush, Hanity, and listening to Beohner, Ryan, Cruz and Rand.
http://www.ted.com/talks/ex_moonie_dian ... think.html
The way out for this is very easy and reasonable. Its actually very easy.
You pass a clean CR and get us out of government shut down.
You except you lost the national elections and 6 house seats and that elections matter in a democracy.
You except we are the United States of America and we have a Constitution and courts and laws
You assign conferenees to negotiate the annual budget and you don't demand things that are settled law
If you want to reverse those settled law, run on that in a national election and win. Then get bills passed.
We know how to do this under our system. Look, Dems didn't want the Bush Tax cuts knowing they would destroy our economy and balloon our debt. They didn't have to power to change that. They tried what was reason and failed. Let let the policies run their course to American could learn first hand they were failed ideas. They regrouped. They ran on the Clinton ideas that actually worked before and they won. They passed bills and reversed what they could regarding the Bush tax ideas We have a process for this.
Please snap out of it. Stop what you are doing and deprogram yourself to reality and facts.
