“DEFAULT” – Democrat Propaganda!

We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact. The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

Is the situation worse now than it was in 2011, the last time that the debt limit was an issue? No. The budget deficit was considerably larger in 2011 than it is currently, so the magnitude of the necessary spending cuts needed after 17 October is lower now than it was then.

http://blogs.barrons.com/incomeinve...need-not-default-if-debt-ceiling-isnt-raised/​

All not raising the debt limit would do is create an INSTANT balanced budget. Then both political parties will have to decide if it is more important to spend money for the funerals of American Military heroes, or welfare recipients who have chosen never to work as there won’t be enough money for both...

 

Thank you...I have said this about 3 times now and nobody listens. The liberal progressives just keep saying we won't be able to pay our bills.

 

Your credit ratings will go to junk status and your treasury bonds implodes. And countries will begin dumping all their USD as your money turns to mush.

Life as you know it is over.

 

It will if you're an anarchist and or doomsday prepper!

 

Or a member of Al-Qaeda or the t-party since they seem to have the same goals.

 

Then we should pre-emptively give Moody's the middle finger.

Why should some corporation hold the U.S. Economy hostage? It's up to the U.S. Government to determine the limits or capabilities of its spending, and how it operates.

 

All that happens if the government does not pass a debt limit raise is that they have to actually balance their spending for a change. Reid want a raise to borrow 2 million a minute.

http://www.washingtonpost.com/blogs...?hpid=z2#c1e3ada3-dc00-41d8-92cb-327c5c814d82

 

My concern here is that Republicans have got it in their head that nothing will happen. What is their proof other than Faux news said so? Wall Street, Economist, and even the Chinease guys who writes the fortune cookies is saying this is bad. Obamacare stayed funded even with the government shut down. Now they want spending cuts. Okay lets cut the Military by 50% and lets start there. Now is there any objections?

 

If we “DEFAULT” it will be BECAUSE Obama spent the limited money on things like OBAMAPHONES and did not pay interest and principal on the debt! If we “DEFAULT” it will be BECAUSE of Obama and the Democrats since the Republicans don’t control the Department of Treasury!

 

Imagine a world where countries would not care if they couldn't pay off their debt. What kind of world do you see yourself living in?

 

Moodys always gives the US the benefit of the doubt. I guess we'll see if they stay true to their word when it happens and the world begins reacting.

 

...and what are those same goals?

 

Of course you cannot refute what they say.

 

Democrat "free" “Gimmies” are only popular as long as no one has to pay for them. If the budget had to be balanced (debt limit not increased) the Democrat Party would self-destruct! Democrats need debt and deficits to survive. When We the People have to pay REAL money for REAL Democrat violations of the Constitution Democrats become REAL unpopular!

 

Obama cannot spend money on anything without the money first being appropriated by Congress. So your so called Obamaphones which is a program actually started under Bush II, have been authorized by Congress and the money spent on them was appropriated by Congress.

 

More lies

 

Which leaves Obama to spend the money coming in on essential government. Translation, a balanced budget.

 

The destruction of America as a global power and its reversion to 19th century autarky and isolationism.

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What exactly is "essential" and "nonessential"?

 

Let's see, how WOULD the world react if the US stopped uncontrolled deficit spending, and STARTED paying off the principal, or paying DOWN its debt? How would the world react if we stopped printing money? What would THAT do to the value of the dollar, and to the return on T-bond (debt) investments? Would such actions make US investments more, or less popular?

 

Ask yourself what is balanced? That means that the government restrains itself to spending the current level of revenue, something that they are not interested in since we borrow 40 cents on every dollar we spend. Reid wants to increase borrowing to 2 million a minute. Do you think that is the least bit sustainable?

 

You didn't answer my question. What is essential and what is nonessential?

I'm all for balancing the budget. I think we should a Constitutional amendment that mandates it. However, I'm not stupid enough to think that going into this with no plan, flailing about, and deliberately causing an economic collapse is a good way of implementing that.

 

Well, consider the following. We have been under sequestration for awhile and all of the fear mongering has not come true. Can the government balance it's budget. Who would know since we have never tried it.

 

The Conservative memory must seriously be limited to 13 years. We have had balanced budgets in the past. If you have a problem with government spending and want a hard limit on it, then you should be supporting a Constitutional Convention to end the flaws in the Constitution that allow government overreach.

 

Obama controls the Treasury Department which actually "writes the checks" or actually "pays the bills" you know "where the rubber meets the road." If Obama and CO decide to NOT pay interest bills in favor of OBAMAPHONES and other things not listed in the Constitution including OBAMACARE expenses OBAMA would be responsible for "DEFAULT!" I only speak the TRUTH!