Tick-Tock...the Default Clock is ticking down to zero. So what actually happens next? (Poll)

[kyzr]

The talking heads say that Congress needs to find a fix this week or the US will default on its Debt.
So place your bets, what will happen next. IMHO Biden needs to sign the House Bill or a major disaster happens to his presidency.

Congress is at an impasse on the debt limit. Here are 5 ways it could end.

The U.S. is less than two weeks from the government's deadline to breach the debt ceiling. Here are potential endgames — and the complications with each.

www.nbcnews.com

1. Republicans blink and allow a senate vote for 50 votes instead of 60
2. Democrats blink and use the budget process and a "vote-a-rama" and then pass the budget before raising the Debt Limit
3. Democrats use "nuclear option" and eliminate the filibuster to raise the debt limit with a simple majority
4. Use the 14th Amendment to say the Debt Limit is unconstitutional, or mint a $1.0T coin.
5. Debt Limit Breach, means that the US government can't borrow any more money and needs to live off current income.

6. Joe Biden and the senate agree to the House Bill and avoid a catastrophe

 

[Harpy Eagle]

I would go with 1 or 4, but I think it will be the Repub House that blinks. They will have just enough Repubs from safe districts to cross over and save the day.

That or Biden will invoke the 14th and say Congress does not have the power to enforce a debt limit and the "default" will be pushed back till SCOTUS rules on it.

 

[1srelluc]

Who knows because with dems catastrophe is not a quirk, it's a feature.

 

[Hang on Sloopy]

The talking heads say that Congress needs to find a fix this week or the US will default on its Debt.
So place your bets, what will happen next. IMHO Biden needs to sign the House Bill or a major disaster happens to his presidency.

Congress is at an impasse on the debt limit. Here are 5 ways it could end.

The U.S. is less than two weeks from the government's deadline to breach the debt ceiling. Here are potential endgames — and the complications with each.

www.nbcnews.com

1. Republicans blink and allow a senate vote for 50 votes instead of 60
2. Democrats blink and use the budget process and a "vote-a-rama" and then pass the budget before raising the Debt Limit
3. Democrats use "nuclear option" and eliminate the filibuster to raise the debt limit with a simple majority
4. Use the 14th Amendment to say the Debt Limit is unconstitutional, or mint a $1.0T coin.
5. Debt Limit Breach, means that the US government can't borrow any more money and needs to live off current income.

6. Joe Biden and the senate agree to the House Bill and avoid a catastrophe

honestly what this country needs is a severe depression with about a 40% unemployment rate to stop these leftist pedophile lovers. this country needs it badly

 

[Harpy Eagle]

honestly what this country needs is a severe depression with about a 40% unemployment rate to stop these leftist pedophile lovers. this country needs it badly

I just love you people that wish harm and suffering on the American people due to putting your beloved party before the country itself.

 

[ReinyDays]

Debt limit breach ... Texas rebels ... no gasoline ... global temperatures crash ... oceans freeze at the equator ... only deep ocean life continues ... environmental issues all solved ... woot ...

 

[Hang on Sloopy]

I just love you people that wish harm and suffering on the American people due to putting your beloved party before the country itself.

you look at the border lately and the suffering that is happening, as will multiply

you look at the inflation that has rocketed so many families and a debt that will blow up

you look at all the crime ridden blm shit holes where victims are criminals

you have the fbi, cia, and social media rigging elections

are you fucking serious about suffering....LOLOLOLOLOL

we should ship every democrap here to el paso to live

we need a severe depression to right this ship

 

[Harpy Eagle]

you look at the border lately and the suffering that is happening, as will multiply

you look at the inflation that has rocketed so many families and a debt that will blow up

you look at all the crime ridden blm shit holes where victims are criminals

you have the fbi, cia, and social media rigging elections

are you fucking serious about suffering....LOLOLOLOLOL

we should ship every democrap here to el paso to live

we need severe depression to right this ship

and then you prove my point.

You are so easy.

 

[kyzr]

I would go with 1 or 4, but I think it will be the Repub House that blinks. They will have just enough Repubs from safe districts to cross over and save the day.
That or Biden will invoke the 14th and say Congress does not have the power to enforce a debt limit and the "default" will be pushed back till SCOTUS rules on it.

1. If the senate votes on something, say a "clean raise" of the Debt Limit, that Bill would be DOA in the House. If the senate votes on the House Bill, would democrat senators vote for it?
2. The 14th Amendment is not the answer, neither is the gimmick coin. The USSC would never allow it.
3. Assuming a default, what all could be cut?
SS would pay about 70% of promised benefits (actual money paid in gets paid out) ($300b/yr)
Welfare payments would stop ($1.6T/yr) ( this is the biggest leak in the ship that needs to be PLUGGED, see below)
Medicaid would stop (~$200b/yr)
Foreign aid would stop ($55b/yr)

Those cuts should cover the $700b a year interest on the Debt

Important welfare statistics for 2021 - Lexington Law

Poverty remains a widespread problem affecting countless low-income families in the U.S. Here’s a breakdown of the latest welfare statistics for 2021.

www.lexingtonlaw.com

1. In 2022, the federal government spent over $1.6 trillion on welfare programs in the United States. (Source: U.S. Government Spending)
2. In 2023, the United States is projected to spend $1.3 trillion on welfare programs. (Source: U.S. Government Spending)

 

[Hang on Sloopy]

I just love you people that wish harm and suffering on the American people due to putting your beloved party before the country itself.

what dr fauci and his liberal lovers did to this fucking world and you talk bout suffering...lolol....good god

 

[SeaMajor7]

Chicxulub 2.0 would fix it all.....

 

[Hang on Sloopy]

and then you prove my point.

You are so easy.

no son, i'm not easy....i never worked for boss and called every shot in my life...it ain't ez to do that entire life

this country needs a severe depression to get it right

 

[Harpy Eagle]

1. If the senate votes on something, say a "clean raise" of the Debt Limit, that Bill would be DOA in the House. If the senate votes on the House Bill, would democrat senators vote for it?
2. The 14th Amendment is not the answer, neither is the gimmick coin. The USSC would never allow it.
3. Assuming a default, what al could be cut?
SS would pay about 70% of promised benefits (actual money paid in gets paid out)
Welfare payments would stop
Medicaid would stop
Foreign aid would stop

Those cuts should cover the $700b a year interest on the Debt

1. That is why I said the House would blink and pass a bill without all the cuts. The Senate will vote for it and it will pass.

2. I am not so sure about the 14th. There is some logic that Congress does not have the power to enforce a debt ceiling.

3. The damage for the most part will not be to the Fed Govt but to the citizens of the country. A drop of 40% in the markets is not out of the question, and that would lead to all sorts of ripple effects. I do not believe either party will allow this to happen. This is all just drama so they can say they tried come next November.

 

[22lcidw]

and then you prove my point.

You are so easy.

It is not wishing anything. It is to just end this. End this suffering of the general population. Why get married and have children? Progs penalize it.

 

[kyzr]

1. That is why I said the House would blink and pass a bill without all the cuts. The Senate will vote for it and it will pass.

2. I am not so sure about the 14th. There is some logic that Congress does not have the power to enforce a debt ceiling.

3. The damage for the most part will not be to the Fed Govt but to the citizens of the country. A drop of 40% in the markets is not out of the question, and that would lead to all sorts of ripple effects. I do not believe either party will allow this to happen. This is all just drama so they can say they tried come next November.

I hope that you are right, but IMHO the House members are NOT going to blink.

So, in your opinion, if a default happens, and the stock market crashes, would that help or hurt Biden's chances for re-election in 2024?

 

[Harpy Eagle]

It is not wishing anything. It is to just end this. End this suffering of the general population. Why get married and have children? Progs penalize it.

Yes, it is wishing for it. He wants to happen, he wants maximum pain so his beloved party can win a few more votes.

 

[Harpy Eagle]

I hope that you are right, but IMHO the House members are NOT going to blink.

Only 10 members need to "defect" to the Dems side and there is enough votes to pass a clean bill. This is what will happen in my opinion.

So, in your opinion, if a default happens, and the stock market crashes, would that help or hurt Biden's chances for re-election in 2024?

I am not sure it will matter, if we default our country is done as we know it and it will never come close to being the same again. The very fact we are talking about this just reinforces my desire to retire to a country that actually has a stable government and economy.

As to your question, I am not sure who the voters will blame the most. It is far too early to tell.

 

[Hang on Sloopy]

and then you prove my point.

You are so easy.

just kiddin ya bro...lolol......i give you so much credit....about 10 times here i said i bought 10k in bitcoin in the beginning.......that flew over so many heads...lol........you picked it right out...lol.........that was lie to see who was conscious here..lol

 

[kyzr]

Only 10 members need to "defect" to the Dems side and there is enough votes to pass a clean bill. This is what will happen in my opinion.

I am not sure it will matter, if we default our country is done as we know it and it will never come close to being the same again. The very fact we are talking about this just reinforces my desire to retire to a country that actually has a stable government and economy. As to your question, I am not sure who the voters will blame the most. It is far too early to tell.

1. 43 Republicans signed a letter saying that they will NOT support a "clean" debt raise. I believe them.
Even if that happens, how do you pass a "clean raise" when the House members will NEVER pass it?
A "clean raise" will never happen.

2. IMHO our country is already done as we know it.
With a $32T Debt and $750b a year in interest payments the Federal Budget will never support current spending levels.
The "welfare state" is over. Might as well face the truth now and cut spending.

 

[Harpy Eagle]

1. 43 Republicans signed a letter saying that they will NOT support a "clean" debt raise. I believe them.
Even if that happens, how do you pass a "clean raise" when the House members will NEVER pass it?
A "clean raise" will never happen.

All you need are 10 House member of the GOP to side with the Dems and there is enough votes to pass a clean raise.

2. IMHO our country is already done as we know it.
With a $32T Debt and $750b a year in interest payments the Federal Budget will never support current spending levels.
The "welfare state" is over. Might as well face the truth now and cut spending.

I guess I would argue there are different levels of "done".

There is "great depression levels" of being done which the default could lead to.

Then there is the "we are no longer able to be the world's police force and last empire" level of done.

You are correct, the current spending is not sustainable. Where to cut from is the debate. Do we cut "welfare" as you call it, or to do we stop funding foreign wars, do we stop invading other countries, do we quit using our military to project our power and get other countries to go along with us.

I would go with the latter, you seem to favor the former.