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If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.
The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.
The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
US debt default will do that? How?
Although I don't think the US will default on its debt just because it can't borrow more. In fact, every dollar paid in Social Security reduces the debt. The US is free to issue bonds up to the limit. This, like the rush to appropriate money for all those "shovel ready" jobs that didn't exist, is just another money grab.
If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.
The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
US debt default will do that? How?
Although I don't think the US will default on its debt just because it can't borrow more. In fact, every dollar paid in Social Security reduces the debt. The US is free to issue bonds up to the limit. This, like the rush to appropriate money for all those "shovel ready" jobs that didn't exist, is just another money grab.
Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility two things that set us apart from much of the world.
If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.
The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
US debt default will do that? How?
Although I don't think the US will default on its debt just because it can't borrow more. In fact, every dollar paid in Social Security reduces the debt. The US is free to issue bonds up to the limit. This, like the rush to appropriate money for all those "shovel ready" jobs that didn't exist, is just another money grab.
Do you honestly think that other countries don't already know that we don't have enough to pay our debts?If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.
The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
US debt default will do that? How?
Although I don't think the US will default on its debt just because it can't borrow more. In fact, every dollar paid in Social Security reduces the debt. The US is free to issue bonds up to the limit. This, like the rush to appropriate money for all those "shovel ready" jobs that didn't exist, is just another money grab.
There are debts this country has run up..like financing 2 wars..that we will default on. If there isn't enough money in the treasury to finance those debts..penalties will accrue. We also have foreign debts subject to the same risk.
What this will do is demostrate to other nations that this country is so dysfunctional it cannot even take care of it's finances. They will look to other currencies to purchase and peg their own to. And they will look to other countries to make trade agreements with.
This works fine if your goal is to be a pariah and isolationist. And it would turn this country, effectively, into a third world country with a big military.
How's that working out for the Democratic Republic of North Korea?
US debt default will do that? How?
Although I don't think the US will default on its debt just because it can't borrow more. In fact, every dollar paid in Social Security reduces the debt. The US is free to issue bonds up to the limit. This, like the rush to appropriate money for all those "shovel ready" jobs that didn't exist, is just another money grab.
Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility two things that set us apart from much of the world.
They do that so they can pretend to the American people that they're 'fighting' to 'save' America. Both sides do it. Sheep fall for it.
Do you honestly think that other countries don't already know that we don't have enough to pay our debts?US debt default will do that? How?
Although I don't think the US will default on its debt just because it can't borrow more. In fact, every dollar paid in Social Security reduces the debt. The US is free to issue bonds up to the limit. This, like the rush to appropriate money for all those "shovel ready" jobs that didn't exist, is just another money grab.
There are debts this country has run up..like financing 2 wars..that we will default on. If there isn't enough money in the treasury to finance those debts..penalties will accrue. We also have foreign debts subject to the same risk.
What this will do is demostrate to other nations that this country is so dysfunctional it cannot even take care of it's finances. They will look to other currencies to purchase and peg their own to. And they will look to other countries to make trade agreements with.
This works fine if your goal is to be a pariah and isolationist. And it would turn this country, effectively, into a third world country with a big military.
How's that working out for the Democratic Republic of North Korea?
Really. Where is that money to pay our debt?Do you honestly think that other countries don't already know that we don't have enough to pay our debts?There are debts this country has run up..like financing 2 wars..that we will default on. If there isn't enough money in the treasury to finance those debts..penalties will accrue. We also have foreign debts subject to the same risk.
What this will do is demostrate to other nations that this country is so dysfunctional it cannot even take care of it's finances. They will look to other currencies to purchase and peg their own to. And they will look to other countries to make trade agreements with.
This works fine if your goal is to be a pariah and isolationist. And it would turn this country, effectively, into a third world country with a big military.
How's that working out for the Democratic Republic of North Korea?
No..they know we have more then enough to finance our debts.
....
Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility two things that set us apart from much of the world.
They do that so they can pretend to the American people that they're 'fighting' to 'save' America. Both sides do it. Sheep fall for it.
Do you disagree with what I posted above?
Really. Where is that money to pay our debt?Do you honestly think that other countries don't already know that we don't have enough to pay our debts?
No..they know we have more then enough to finance our debts.
....
If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.
The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
I have no idea how this answers my question.Really. Where is that money to pay our debt?No..they know we have more then enough to finance our debts.
....
At the beginning of the Bush administration? In the Bush administration hot little hands.
So they were like..surplus what to do..what to do...
Pay off debt?
Naw.
TAX CUTS!
If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.
The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
