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I was under the impression that Representatives were sent to Washington to do things 
NOT sign pledges & cast Show-votes. 
5 Consequences If America Doesnt Raise the Debt Ceiling
Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.
Here's what he says will happen if the federal government can't reach a deal:
1. $4 billion-plus a day will come out of the economy.
2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.
3. Social security payments will be delayed.
4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.
5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.
5 Consequences If America Doesn
Unsustainable Valerie.. Ponder that.
Bernanke: Debt ceiling breach 'calamitous'
If lawmakers don't raise the federal government's legal borrowing limit by Aug. 2, Treasury has said that it won't be able to pay all the country's bills in full.
"A failure by politicians to reverse course would be very harmful to an already fragile U.S. economy," El-Erian said. "The potential consequences could well extend beyond the debt ceiling debate."
Debt ceiling splitsville: Now what? - Jul. 23, 2011
5 Consequences If America Doesnt Raise the Debt Ceiling
Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.
Here's what he says will happen if the federal government can't reach a deal:
1. $4 billion-plus a day will come out of the economy.
2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.
3. Social security payments will be delayed.
4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.
5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.
5 Consequences If America Doesn
5 Consequences If America Doesn’t Raise the Debt Ceiling
Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.
Here's what he says will happen if the federal government can't reach a deal:
1. $4 billion-plus a day will come out of the economy.
2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.
3. Social security payments will be delayed.
4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.
5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.
5 Consequences If America Doesn
No Valerie, these are not things that WILL happen; they are things that COULD happen, but not will. If the debt ceiling doesn't get raised we don't run out of money; we simply have to live on what we're actually taking in and that is enough to pay the military, make SS payments, and service the debt.
I know you're just trying to be contrary but you might notice that analysis is not mine but someone who knows a hell of a lot more than either of us... Try reading for comprehension next time.
5 Consequences If America Doesnt Raise the Debt Ceiling
Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.
Here's what he says will happen if the federal government can't reach a deal:
1. $4 billion-plus a day will come out of the economy.
2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.
3. Social security payments will be delayed.
4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.
5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.
5 Consequences If America Doesn
No Valerie, these are not things that WILL happen; they are things that COULD happen, but not will. If the debt ceiling doesn't get raised we don't run out of money; we simply have to live on what we're actually taking in and that is enough to pay the military, make SS payments, and service the debt.
5 Consequences If America Doesnt Raise the Debt Ceiling
Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.
Here's what he says will happen if the federal government can't reach a deal:
1. $4 billion-plus a day will come out of the economy.
2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.
3. Social security payments will be delayed.
4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.
5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.
5 Consequences If America Doesn
No Valerie, these are not things that WILL happen; they are things that COULD happen, but not will. If the debt ceiling doesn't get raised we don't run out of money; we simply have to live on what we're actually taking in and that is enough to pay the military, make SS payments, and service the debt.
Madness is thinking you can keep writing checks with no consequences.
Who was it who called raising the debt ceiling a 'sign of failed leadership'?
Oh yea, that was a Democrat.
Actually, it was the current President. So, please explain how it was a 'sign of failed leadership' then, but not now?
And.... just because we've been really stupid previously does not mean we should continue to be stupid.
Since 1939, Congress has raised the debt limit 89 times. Thats not a typo. The issue has come up 89 times, and in 89 instances, Congress passed a clean bill. In fact, in two-thirds of these instances, there was a Republican president, and no one ever used the vote as leverage for a reward.
During the Bush presidency, Republicans raised the debt ceiling, without strings or preconditions, seven times. The current GOP leadership in Washington has voted to raise the debt limit 19 times. Bushs former budget director said this ought to be treated as the housekeeping matter it is.
But weve now reached the point at which routine housekeeping, which didnt even give conservative Republicans a second thought as recently as 2008, is considered beyond the pale. This is madness.
Political Animal - The easiest, most effective way to resolve the crisis
Who was it who called raising the debt ceiling a 'sign of failed leadership'?
Oh yea, that was a Democrat.
Actually, it was the current President. So, please explain how it was a 'sign of failed leadership' then, but not now?
And.... just because we've been really stupid previously does not mean we should continue to be stupid.
Because cutting taxes while running two wars off the books IS a sign of failed leadership.
Inheriting a trillion dollar deficit and a crumbling economy in the wake of a disastrous Presidency just aint the same, toots.
Since 1939, Congress has raised the debt limit 89 times. Thats not a typo. The issue has come up 89 times, and in 89 instances, Congress passed a clean bill. In fact, in two-thirds of these instances, there was a Republican president, and no one ever used the vote as leverage for a reward.
During the Bush presidency, Republicans raised the debt ceiling, without strings or preconditions, seven times. The current GOP leadership in Washington has voted to raise the debt limit 19 times. Bushs former budget director said this ought to be treated as the housekeeping matter it is.
But weve now reached the point at which routine housekeeping, which didnt even give conservative Republicans a second thought as recently as 2008, is considered beyond the pale. This is madness.
Political Animal - The easiest, most effective way to resolve the crisis
And many on the left want to just continue with the status quo. How's that working out? The government needs to live within its means. I can't figure why so many people are opposed to this.
5 Consequences If America Doesnt Raise the Debt Ceiling
Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.
Here's what he says will happen if the federal government can't reach a deal:
1. $4 billion-plus a day will come out of the economy.
2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.
3. Social security payments will be delayed.
4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.
5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.
5 Consequences If America Doesn
Madness is thinking you can keep writing checks with no consequences.
"The definition of insanity is doing the same thing over and over and expecting different results."
5 Consequences If America Doesnt Raise the Debt Ceiling
Today's Daily Ticker guest David Walker -- the former Comptroller General of the United States and head of the Government Accountability Office -- says it's imperative both sides of the aisle find a compromise that also sets conditions to lower our long-term debt and get us back on track. If they don't, the rest of us will pay.
Here's what he says will happen if the federal government can't reach a deal:
1. $4 billion-plus a day will come out of the economy.
2. Government and civilian military workers will be laid off temporarily. That will result in penalties for late payment, to be paid by taxpayers.
3. Social security payments will be delayed.
4. No one knows how bad the reaction will be, but Walker is confident it will be negative for the stock and bond markets and the economy.
5. Interest rates will rise. For every 1% rise in interest rates, taxpayers will be on the hook for an additional $150 billion in debt payments.
5 Consequences If America Doesn
Unsustainable Valerie.. Ponder that.
It's one thing to say we can't sustain this cash flow... We can't sustain this unbalanced budget... Agreed. But the politicians are literally holding our future hostage as leverage in order to negotiate the budget. As a matter of practicality, if you really want what's best for the American people right now, to not raise the limit is like foolishly throwing the baby out cuz of the unsustainable dirty bathwater!
Bernanke: Debt ceiling breach 'calamitous'
If lawmakers don't raise the federal government's legal borrowing limit by Aug. 2, Treasury has said that it won't be able to pay all the country's bills in full.
"A failure by politicians to reverse course would be very harmful to an already fragile U.S. economy," El-Erian said. "The potential consequences could well extend beyond the debt ceiling debate."
Debt ceiling splitsville: Now what? - Jul. 23, 2011
