Boehner floats deficit ceiling deal.

Discussion in 'Congress' started by JimH52, May 9, 2011.

  1. JimH52
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    JimH52 Gold Member

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  2. Dont Taz Me Bro
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    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

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    Not raising the debt ceiling will not make us default, but I wouldn't expect an uneducated ignoramus like yourself to understand that. It's easier for you to just repeat talking points you know nothing about.
     
  3. Wonky Pundit
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    Wonky Pundit USMB's Silent Snowden

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    What do you think will happen if we default on any single security for even one day? Hint: it won't be good.
     
  4. Toro
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    Toro Diamond Member

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    It wouldn't necessarily make us default but it might. We will eventually have to cut SS, defense or Medicare and Medicaid, given that those three account for $2.4 trillion in spending, interest payments are $200 billion, and total revenues are $2.2 trillion.
     
    Last edited: May 9, 2011
  5. percysunshine
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    percysunshine Gold Member

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    Sometimes, cutting up the credit cards is the right thing to do.
     
  6. Wonky Pundit
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    Wonky Pundit USMB's Silent Snowden

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    This move on Boehner's part is actually quite empty, considering that he's saying "Everything except tax hikes is on the table." (direct quote)
     
  7. Toro
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    Toro Diamond Member

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    Sometimes it is.

    So you'd be willing to cut $400 billion from defense this year then?
     
  8. JimH52
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    JimH52 Gold Member

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    Spain that to me Lucy. How will not paying our bills to debt holders outside the US, not be default. Is this the new Republican math?
     
  9. editec
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    editec Mr. Forgot-it-All

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    Sarcasm, thy name is JimH52
     
  10. 8537
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    8537 Senior Member

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    Well, after you put that so nicely I hate to disagree but: yes, it will. There would be no funds to make interest payments - unless you believe the government would first stop paying all medicare payments, shut down the military and close the Treasury department before it would default.
     
    Last edited: May 10, 2011

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