Debt Default....what happens

[EMH]

Phelps did his drug abuse AFTER his Olympic victories, dumbass!

LMFAO!!!

Not quite...

 

[EMH]

Libertarians support legalizing all drugs, not just weed.

W supported making OxyContin aka opium legal.

Libertarians value personal responsibility.

You value your taxpayer funded opium and bless W for bilking American taxpayers for it...

 

[Admiral Rockwell Tory]

LMFAO!!!

Not quite...

A smoker of anything will not be a successful swimmer, moron!

 

[Admiral Rockwell Tory]

W supported making OxyContin aka opium legal.

Libertarians value personal responsibility.

You value your taxpayer funded opium and bless W for bilking American taxpayers for it...

Oxycontin is still illegal if not prescribed. I know because I have taken it recently after surgery. I still have a prescription for it.

OxyContin Is it illegal to abuse OxyContin? Yes, abusing OxyContin is illegal. OxyContin is a Schedule II substance under the Controlled Substances Act. Schedule II drugs, which include cocaine and methamphetamine, have a high potential for abuse. Abuse of these drugs may lead to severe psychological or physical dependence.

https://www.justice.gov/archive/ndic/pubs6/6025/6025p.pdf

Now, you were saying?

 

[EMH]

A smoker of anything will not be a successful swimmer, moron!

Once again, when REALITY and SUB PARROTING conflict, the SUB will continue to PARROT....

And in between those gold medals is this 2009 photo....

 

[petro]

Why the fuck are we doing this every few months. All it does is highlight the failure of Congress to rein in spending and stick with a damn budget.
The problem isn't a debt ceiling, but the fact that government constantly outspends revenue.

That is complete and utter failure.

 

[Blaster]

I don't care.

 

[Lesh]

We do this all the time. It's just a game.

Actually we don't.

"We" (meaning Republicans) only do this when NOT in control. It's all politically motivated Russian Roulette being played with our economy

 

[Lesh]

Why the fuck are we doing this every few months. All it does is highlight the failure of Congress to rein in spending and stick with a damn budget.
The problem isn't a debt ceiling, but the fact that government constantly outspends revenue.

That is complete and utter failure.

But you don't "rein in spending" by refusing to pay existing debt.

Try that with your personal finances and it'll cost you big ultimately ending with bankruptcy

 

[pknopp]

Actually we don't.

"We" (meaning Republicans) only do this when NOT in control. It's all politically motivated Russian Roulette being played with our economy

The threats happen every time there is a vote to raise the ceiling.

Factbox: Trump's government shutdown threat, looming debt ceiling

President Donald Trump said on Tuesday he was willing to shut down the government to get funding for a U.S.-Mexico border wall, complicating two must-pass measures Congress will take up in September: a spending package and raising the debt ceiling.

www.reuters.com

 

[pknopp]

But you don't "rein in spending" by refusing to pay existing debt.

Try that with your personal finances and it'll cost you big ultimately ending with bankruptcy

Some of that debt doesn't actually have to be paid. Like unused Covid money.

 

[Lesh]

Some of that debt doesn't actually have to be paid. Like unused Covid money.

Then go through Congress and deal with it directly.

Fucking with the debt ceiling is a disaster.

Double unemployment rate and Recession at BEST

What would happen if the government defaults on its debt?

Policy brinksmanship over lifting the debt ceiling and the threat of default it brings is increasing the cost of doing business and carries far more risk than is commonly acknowledged.

realeconomy.rsmus.com

 

[pknopp]

Then go through Congress and deal with it directly.

Fucking with the debt ceiling is a disaster.

Double unemployment rate and Recession at BEST

What would happen if the government defaults on its debt?

Policy brinksmanship over lifting the debt ceiling and the threat of default it brings is increasing the cost of doing business and carries far more risk than is commonly acknowledged.

realeconomy.rsmus.com

We hear the scare tactics all the time. They mean nothing to me. As I said, it's simply a game. You avoided my point about how not all money has to be funded.

 

[Lesh]

We hear the scare tactics all the time. They mean nothing to me. As I said, it's simply a game. You avoided my point about how not all money has to be funded.

These are not "scare tactics". They are very real and sober predictions.

And it's not "all the time"...it's whenever the GOP wants to threaten to tank the economy to take shit away from the poor and middle class

 

[pknopp]

These are not "scare tactics". They are very real and sober predictions.

And it's not "all the time"...it's whenever the GOP wants to threaten to tank the economy to take shit away from the poor and middle class

Every time it comes up. You know what might have helped head it off? If Biden had lived up to his campaign promise and actually made the rich pony up for their fair share of the debt.

(again you avoided my point about how not all the debt actually needs funded).

It's called negotiation. It's how the country is supposed to work.

Democrats: No, we will not role back protections for the poor BUT we will take back any unused Covid Funds.

 

[Lesh]

2013 debt "crisis"

The crisis sparked the most volatile week for financial markets since the 2008 crisis, with the stock market trending significantly downward. Prices of government bonds ("Treasuries") rose as investors, anxious over the dismal prospects of the US economic future and the ongoing European sovereign-debt crisis, fled into the still-perceived relative safety of US government bonds. Later that week, the credit-rating agency Standard & Poor's downgraded the credit rating of the United States government for the first time in the country's history, though the other two major credit-rating agencies, Moody's and Fitch, retained America's credit rating at AAA. The Government Accountability Office (GAO) estimated that the delay in raising the debt ceiling increased government borrowing costs by $1.3 billion in 2011 and also pointed to unestimated higher costs in later years.[1] The Bipartisan Policy Center extended the GAO's estimates and found that delays in raising the debt ceiling would raise borrowing costs by $18.9 billion.[2]

and that's just from the THREAT of default

 

[Toddsterpatriot]

But you don't "rein in spending" by refusing to pay existing debt.

Try that with your personal finances and it'll cost you big ultimately ending with bankruptcy

But you don't "rein in spending" by refusing to pay existing debt.

No one is stopping us from paying existing debt.

Try that with your personal finances and it'll cost you big ultimately ending with bankruptcy

I can pay existing debt without adding more debt. Why would that lead to bankruptcy?

 

[Toddsterpatriot]

Then go through Congress and deal with it directly.

Fucking with the debt ceiling is a disaster.

Double unemployment rate and Recession at BEST

What would happen if the government defaults on its debt?

Policy brinksmanship over lifting the debt ceiling and the threat of default it brings is increasing the cost of doing business and carries far more risk than is commonly acknowledged.

realeconomy.rsmus.com

Then go through Congress and deal with it directly.

Dems need to send a bill to Congress. And negotiate.

 

[petro]

But you don't "rein in spending" by refusing to pay existing debt.

Try that with your personal finances and it'll cost you big ultimately ending with bankruptcy

I don't constantly ask the credit card company to increase my limit every three months.
That fucking existing debt you are yammering about was still overspending over revenue.
The credit card company doesn't allow me to outspend my credit limit then ask for more after the fact.

 

[Lesh]

I don't constantly ask the credit card company to increase my limit every three months.
That fucking existing debt you are yammering about was still overspending over revenue.
The credit card company doesn't allow me to outspend my credit limit then ask for more after the fact.

This is not that. This is paying EXISTING DEBT you dope.

This is like saying… yea my credit card bill is too high… I’m just not gonna pay it