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##You work in marketing yet your use of English is abysmal.
You are semi literate, a dole boy.
Chav chops, did you arsehole the postie again when he was late with your giro?
Mate i am dyslexic you fucking muppert. What a sad excuse for human being you are. Go outside and enjoy the weather it do you good you fucking sad bitter pathetic troll
Oh dyslexic is it ?
Odd, I know many dyslexics who when writing by hand have difficulties, yet typing on a modern computer/device always manage to accurately and succinctly present their point.
Dyslexics would never make the mistake of writing "YOUR" instead of "YOU'RE".
A retarded dole boy Chav however.......
China could dump the trillion dollars in debt after default
China could dump the trillion dollars in debt after default
Your so right and a default it going to also mean that investors might pull out of the country.
Hopefully in next 24 hours congress comes to its senses and reaches a deal on the debt celling.
That would be an incorrect assumption. The treasury, by law, must pay what the Congress tells them to...and that would be to pay debt. Now I suppose Obama could try to stop that, but I seriously doubt our president would intentionally argue for default. Do you? Either way, Congress has the power of the purse. The treasury cannot cause default..
Its a correct assumption, because congress tried to tell them to do that last year, and was unable to speak (the bill failed), so as far as the treasury is concerned, no one is telling them to do anything. Until someone does, they will continue to pay bills as they always have, first gets paid first. I don't know where you are coming up with this assumption that congress has told them to pay debts first, they haven't, in fact, they specifically failed to do that.
You have it backwards. Investors want their debt paid back first and foremost of course, but they also want FISCAL RESPONSIBILITY from those they invest in, so that future payments are assured. It is NOT bankruptcy to scale back spending, sell off assets or defund programs that are no longer viable. It's the fiscally responsible thing to do when you're living beyond your means.
I agree with this, but this has also not happened. There have been no spending cuts, and there wont be any tomorrow. Not paying people you are lawfully obligated to pay, is not the same thing as spending cuts.
I agree, as long as you mean cut spending by way of passing laws to reduce spending, not cut spending by just not paying people. Its the difference of laying people off, vs employing them and not paying them.
A technical default will have all the same ramifications as a technical default.
In fact today we have already seen a massive amount of people trying to dump treasuries, so the effect is already happening
When government begins to reign in spending, you let us know about the effect on treasuries. Until then, we just keep piling on the debt while our "leaders" false incite panic by talking about default. THAT is what hurts interest rates and credit ratings, not fiscal responsibility.
America going to default
I understand lying like this helps to panic the masses into supporting your agenda, but it's still a lie.
For the record, our current level of federal tax revenue is more than 10 TIMES that which is necessary to make our debt payments.
The only way we default is if the current administration refuses to make that payment despite having PLENTY of money to do so.
While that's true, the gov't lacks the authority to pick and choose which payments to make. And Obama has refused that authority.
No, we are going to default and the consequences could be catastrophic.
Decker, default is just not going to happen. Why not move on. We're monitoring a President who thinks there is no limit to using the United States Treasury as his campaign donor grab bag. He is pissed because John Boehner has told him his criminal use of American funds is done.Heres another article in examiner showing why america would default and how bad it be
The debt is not just numbers; it is real money that has been lent with real expectations of returned payment. The debt is owed to multi-national banks, foreign countries, and the public itself through treasuries. If an individual defaults on a loan, the debt does not disappear. Instead, the bank takes the loss. If the United States goes into default, much of the world will suddenly face the prospect of losing about $14 trillion dollars. The results likely will be catastrophic.
Many of the world's largest banks, which are still hardly on solid footing after the 2008 financial crisis, would go bankrupt due to their exposure to the United States. Credit for simple things like houses and car loans may become unavailable as a result. Most large companies use short-term credit to make their payrolls. That credit would disappear, and as a result, many workers would have to start going without a paycheck. There is a very real possibility that people would go to their local bank or ATM and not be able to withdraw cash from their account. Hyperinflation could very likely ensue as the United States dollar becomes basically worthless. The "full faith and credit" of the United States is the only thing holding up the value of the dollar, so when that credit is gone, it is hard to imagine the dollar's surviving with it.
In response to the crisis, businesses would once more lay off workers, only worsening matters and creating a downward economic cycle, which results in a depression. The stock market would plummet as well, negatively affecting the 401(k) accounts of millions of Americans. The price of oil would skyrocket, and with it likely the price of gasoline. Ironically, the only people to benefit may be the firms which invested in the kind of credit default swaps that caused the 2008 financial disaster.
So bad all round
Nothing in those words suggests we don't have PLENTY of money to pay the debt. Again, tell us why...in your own words...you think we would default. Who is going to refuse to make a debt payment when there is more than enough money to do so?
mate if you default markets around the world would plunge and investors would pull out. Not just my words but bbc and many non american sites words.
I understand lying like this helps to panic the masses into supporting your agenda, but it's still a lie.
For the record, our current level of federal tax revenue is more than 10 TIMES that which is necessary to make our debt payments.
The only way we default is if the current administration refuses to make that payment despite having PLENTY of money to do so.
While that's true, the gov't lacks the authority to pick and choose which payments to make. And Obama has refused that authority.
No, we are going to default and the consequences could be catastrophic.
Sorry Rabbi, but I say you're wrong on this one. Congress has the power of the purse, which absolutely gives them oversight on who gets paid. Now if you want to suggest that Reid/Obama would INTENTIONALLY cause default, you can make your case, but I'm saying that isn't going to happen. Hell, if it did, he'd be in violation of the 14th amendment and up for impeachment. So hell, I wish you were right! But in reality, default isn't going to happen. Congress would HAVE to prioritize payments without a debt ceiling deal and it's about time they do so!
Decker, default is just not going to happen. Why not move on. We're monitoring a President who thinks there is no limit to using the United States Treasury as his campaign donor grab bag. He is pissed because John Boehner has told him his criminal use of American funds is done.Nothing in those words suggests we don't have PLENTY of money to pay the debt. Again, tell us why...in your own words...you think we would default. Who is going to refuse to make a debt payment when there is more than enough money to do so?
mate if you default markets around the world would plunge and investors would pull out. Not just my words but bbc and many non american sites words.
So what does the little boy do? He makes life hard on America's veterans and defenders by carrying through threats he makes. He wants Nancy Pelosi's BIL to have a cushy life, so he calls the Treasury with a good fist shake about what will happen to them as federal employees if Nancy's pals and family do not get every little thing they long for--namely 100% guaranteed loans on businesses they have already drained for cash, so they will get all they wasted plus their initial startup funds back at the expense of the American people.
I cannot tell you how criminal that use of America's assets is for greedmongers like Nancy Pelosi yapping horrid things in retaliation for someone telling her "no." If she weren't slipping stuff out quietly in electronic transfers and had to use armored cars, America would see a lot of silver being driven down the highways from Washington to San Francisco palaces belonging to Nancy's chums. It was funny yesterday to see her screeching on television how America was getting its time wasted by Republicans, when in reality this screeching little dowager is hiding serious abuse of trust with re to the American people's money on things that enrich those in her little self-interested family and millionaire's club who feather her nest at election time. She's nothing short of a criminal, she's just better at it than most people, abusing her position in the House of Representatives and loving it. More here: Judicial Watch Announces List of Washington?s ?Ten Most Wanted Corrupt Politicians? for 2011 | Judicial Watch
While that's true, the gov't lacks the authority to pick and choose which payments to make. And Obama has refused that authority.
No, we are going to default and the consequences could be catastrophic.
Sorry Rabbi, but I say you're wrong on this one. Congress has the power of the purse, which absolutely gives them oversight on who gets paid. Now if you want to suggest that Reid/Obama would INTENTIONALLY cause default, you can make your case, but I'm saying that isn't going to happen. Hell, if it did, he'd be in violation of the 14th amendment and up for impeachment. So hell, I wish you were right! But in reality, default isn't going to happen. Congress would HAVE to prioritize payments without a debt ceiling deal and it's about time they do so!
Obama and Reid have rejected every compromise measure. That includes authority to prioritize payments. What is going to be different this time around? They will default and blame the GOP and the media will run with that story.
Obama is not getting impeached. Violating some clause in the 14thA is not grounds for impeachment. Even if it were, the House might vote to impeach but the Senate will never, never, remove him.
No, I think things could get very dark very quickly.
China could dump the trillion dollars in debt after default
Your so right and a default it going to also mean that investors might pull out of the country.
Hopefully in next 24 hours congress comes to its senses and reaches a deal on the debt celling.
Investors aren't pulling out of the country. In part because there isn't any better place to invest.
Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.
missing a food stamp payment or a gift payment to NPR is NOT a default.
STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !
the USA has lots of financial obligations, besides interest on the debt.
we also have bonds that are cashed out daily.
contracts that need to be paid.
Sorry Rabbi, but I say you're wrong on this one. Congress has the power of the purse, which absolutely gives them oversight on who gets paid. Now if you want to suggest that Reid/Obama would INTENTIONALLY cause default, you can make your case, but I'm saying that isn't going to happen. Hell, if it did, he'd be in violation of the 14th amendment and up for impeachment. So hell, I wish you were right! But in reality, default isn't going to happen. Congress would HAVE to prioritize payments without a debt ceiling deal and it's about time they do so!
Obama and Reid have rejected every compromise measure. That includes authority to prioritize payments. What is going to be different this time around? They will default and blame the GOP and the media will run with that story.
Obama is not getting impeached. Violating some clause in the 14thA is not grounds for impeachment. Even if it were, the House might vote to impeach but the Senate will never, never, remove him.
No, I think things could get very dark very quickly.
Whatever you think of it default is very bad news. Even five programme on five news all said default would be awful.
I think no one come out of this looking good. They need middle compromise between cutting and also ensuring not to much cuts. But neither side can bring themselves to that balanced budget
Obama and Reid have rejected every compromise measure. That includes authority to prioritize payments. What is going to be different this time around? They will default and blame the GOP and the media will run with that story.
Obama is not getting impeached. Violating some clause in the 14thA is not grounds for impeachment. Even if it were, the House might vote to impeach but the Senate will never, never, remove him.
No, I think things could get very dark very quickly.
Whatever you think of it default is very bad news. Even five programme on five news all said default would be awful.
I think no one come out of this looking good. They need middle compromise between cutting and also ensuring not to much cuts. But neither side can bring themselves to that balanced budget
The Democrats want more spending, not less.
The GOP wants less spending, including tossing that turd Obamacare.
I dont know where it will end up but things could get very ugly if Treasury bonds lose significant value.
While that's true, the gov't lacks the authority to pick and choose which payments to make. And Obama has refused that authority.
No, we are going to default and the consequences could be catastrophic.
Sorry Rabbi, but I say you're wrong on this one. Congress has the power of the purse, which absolutely gives them oversight on who gets paid. Now if you want to suggest that Reid/Obama would INTENTIONALLY cause default, you can make your case, but I'm saying that isn't going to happen. Hell, if it did, he'd be in violation of the 14th amendment and up for impeachment. So hell, I wish you were right! But in reality, default isn't going to happen. Congress would HAVE to prioritize payments without a debt ceiling deal and it's about time they do so!
Obama and Reid have rejected every compromise measure. That includes authority to prioritize payments. What is going to be different this time around?
They will default and blame the GOP and the media will run with that story.
Obama is not getting impeached. Violating some clause in the 14thA is not grounds for impeachment. Even if it were, the House might vote to impeach but the Senate will never, never, remove him.
No, I think things could get very dark very quickly.
The Default Threat is Kabuki Theater and the MSM are a bunch of dupes.
Congressman David Schweikert of Arizona, the former treasurer of Maricopa County nails it:
You and I can find ways the game-playing has been done, said Arizona Rep. David Schweikert, the former treasurer of Maricopa County. You dont get to have those debates and discussions if you have the administration able to game-play with the trust funds.
Another reporter asked Schweikert to respond to some doom-saying quotes from Chinese bankers. I lay this at the steps of the administration and Jack Lew, said the congressman. The unconscionable, unacceptable use of language, the word default, when the borrowing we need for 2014 is were 16 percent short on revenue. To use the word default, to scare the marketsare politics really that important to this administration that it ignores basic math?
Schweikert ticked off ways that he, as a county treasurer, had sought balance. The basic repo desk, running your ladders on your debtits stunning that the politicians in the administration care more about keeping this as a wedge than the international markets. Even Geithner made it clear that he had the ability to prioritize . here is no such thing as default unless there is an actual evil attempt from the administration. When you have 18 percent of GDP coming in in cash, less than 2 percent going out in debt coverageIm stunned you all fall for it in the press. None of you were math majors, were you?
?None of You [Reporters] Were Math Majors, Were You?? | Power Line
The Default Threat is Kabuki Theater and the MSM are a bunch of dupes.
Congressman David Schweikert of Arizona, the former treasurer of Maricopa County nails it:
You and I can find ways the game-playing has been done, said Arizona Rep. David Schweikert, the former treasurer of Maricopa County. You dont get to have those debates and discussions if you have the administration able to game-play with the trust funds.
Another reporter asked Schweikert to respond to some doom-saying quotes from Chinese bankers. I lay this at the steps of the administration and Jack Lew, said the congressman. The unconscionable, unacceptable use of language, the word default, when the borrowing we need for 2014 is were 16 percent short on revenue. To use the word default, to scare the marketsare politics really that important to this administration that it ignores basic math?
Schweikert ticked off ways that he, as a county treasurer, had sought balance. The basic repo desk, running your ladders on your debtits stunning that the politicians in the administration care more about keeping this as a wedge than the international markets. Even Geithner made it clear that he had the ability to prioritize . here is no such thing as default unless there is an actual evil attempt from the administration. When you have 18 percent of GDP coming in in cash, less than 2 percent going out in debt coverageIm stunned you all fall for it in the press. None of you were math majors, were you?
?None of You [Reporters] Were Math Majors, Were You?? | Power Line
I dont buy it. I dont think the Treasury has authority to prioritize payments, and Obama etc have refused exactly that authority from the House. If they were to set priorites you are right, there would be no default on interest payments. But they cannot.
And yes, the MSM will spin this as the GOP's fault, because Obama and all his sycophants will repeat that endlessly.
The Default Threat is Kabuki Theater and the MSM are a bunch of dupes.
Congressman David Schweikert of Arizona, the former treasurer of Maricopa County nails it:
You and I can find ways the game-playing has been done, said Arizona Rep. David Schweikert, the former treasurer of Maricopa County. You dont get to have those debates and discussions if you have the administration able to game-play with the trust funds.
Another reporter asked Schweikert to respond to some doom-saying quotes from Chinese bankers. I lay this at the steps of the administration and Jack Lew, said the congressman. The unconscionable, unacceptable use of language, the word default, when the borrowing we need for 2014 is were 16 percent short on revenue. To use the word default, to scare the marketsare politics really that important to this administration that it ignores basic math?
Schweikert ticked off ways that he, as a county treasurer, had sought balance. The basic repo desk, running your ladders on your debtits stunning that the politicians in the administration care more about keeping this as a wedge than the international markets. Even Geithner made it clear that he had the ability to prioritize . here is no such thing as default unless there is an actual evil attempt from the administration. When you have 18 percent of GDP coming in in cash, less than 2 percent going out in debt coverageIm stunned you all fall for it in the press. None of you were math majors, were you?
?None of You [Reporters] Were Math Majors, Were You?? | Power Line
I dont buy it. I dont think the Treasury has authority to prioritize payments, and Obama etc have refused exactly that authority from the House. If they were to set priorites you are right, there would be no default on interest payments. But they cannot.
And yes, the MSM will spin this as the GOP's fault, because Obama and all his sycophants will repeat that endlessly.
deep down everyone to blame for this. Their no enough trying to understand each other and to much abuse deep down.
i think obama led badly on this though
I dont buy it. I dont think the Treasury has authority to prioritize payments, and Obama etc have refused exactly that authority from the House. If they were to set priorites you are right, there would be no default on interest payments. But they cannot.
And yes, the MSM will spin this as the GOP's fault, because Obama and all his sycophants will repeat that endlessly.
deep down everyone to blame for this. Their no enough trying to understand each other and to much abuse deep down.
i think obama led badly on this though
true, dictators are not leaders, they are dictators.
deep down everyone to blame for this. Their no enough trying to understand each other and to much abuse deep down.
i think obama led badly on this though
true, dictators are not leaders, they are dictators.
I would not call him a dictator. He is is just not a very good leader. Good at winning elections. Not good at leading a country
