Holy *&%^.

[Caralho]

http://economix.blogs.nytimes.com/2013/10/14/for-many-hard-liners-debt-default-is-the-goal/?_r=2&

[fan_since79]

The reason interest rates are so low is because this country has a central bank that buys a huge amount of it's own debt via bond purchases. If there wasn't a Federal Reserve there wouldn't be an extravagant amount of debt and we wouldn't be in this mess.

 

Fiat currency and money printing hasn't helped matters. Then there was Nixon who took the U.S. dollar off the gold standard in 1971. There were a whole lot of steps that led to this mess of debt.

[TobiasFunke]

Fiat currency and money printing hasn't helped matters. Then there was Nixon who took the U.S. dollar off the gold standard in 1971. There were a whole lot of steps that led to this mess of debt.

Since Nixon is a predecessor to Obama, Obama somehow has his dirty hands in the nixing(pun intended) of the gold standard. Amirite?

[mtangelsfan]

Only those with true myopia are going to point their finger at one person and say they are the reason for this.  It really is quite remarkable that an argument like that could even be written out.  It's truly beyond the pale.

[nate]

Wow... corruption at its best.

[Angel Oracle]

How? Simple, don't buy bonds. 

I'm getting ready to take all my money that's in bonds out of them.

[Angel Oracle]

Only those with true myopia are going to point their finger at one person and say they are the reason for this.  It really is quite remarkable that an argument like that could even be written out.  It's truly beyond the pale.

The guberment is just like the Halos mess.    Many people to blame! 

[fan_since79]

Only those with true myopia are going to point their finger at one person and say they are the reason for this.  It really is quite remarkable that an argument like that could even be written out.  It's truly beyond the pale.

All I said was that if Jack Lew doesn't make the interest payment on the debt this month, and the country and the world economy collapses, it's his fault. 

 

I don't think that will happen, but if it does, he's to blame for the resulting catastrophe.

 

There's more than enough money coming in to service the debt and cover other essential services. The problem is, the government is too damn big and one side doesn't want to reduce its size to meet revenues. I don't have the luxury of continuing to borrow endlessly. Neither should our federal government.

Edited October 15, 2013 by fan_since79

[Caralho]

Senator Coons says that Reid told him that McConnell is walking away from the deal. Damn it so much.

[fan_since79]

Since Nixon is a predecessor to Obama, Obama somehow has his dirty hands in the nixing(pun intended) of the gold standard. Amirite?

You seem fixated on the idea that I hate Obama. 

 

Yeah, he's to blame for every problem in this country. Now and throughout its history.

 

(Now where's that sarcasm emoticon when I need it?)

[mtangelsfan]

and what you said is completely wrong.  It's like saying one player in a 10-9 loss is responsible for losing the game. 

 

How can you watch that video and not understand that republicans led the charge to the shutdown?

[fan_since79]

Senator Coons says that Reid told him that McConnell is walking away from the deal. Damn it so much.

 

We're going to wake up one of these next few days to find the market has dropped a couple thousand points.

 

This is all so avoidable. Bunch of spoiled children occupying the Capitol building.

[fan_since79]

and what you said is completely wrong.  It's like saying one player in a 10-9 loss is responsible for losing the game. 

 

How can you watch that video and not understand that republicans led the charge to the shutdown?

 

I don't disagree about the shutdown. The defaulting on the debt is another matter. 

 

If Lew fails to make an interest payment on time, with funds available to do so, it will be his fault if catastrophe ensues.

[Caralho]

This congressman thinks that default is no big deal but is going to use it to force concessions. http://talkingpointsmemo.com/livewire/house-goper-we-re-gonna-make-them-an-offer-they-can-t-refuse

[RallyMo]

This is all so screwed.

[mtangelsfan]

We are all so screwed.

fixed

[fan_since79]

This congressman thinks that default is no big deal but is going to use it to force concessions. http://talkingpointsmemo.com/livewire/house-goper-we-re-gonna-make-them-an-offer-they-can-t-refuse

 

Anyone who uses the threat of a default to "force" political concessions should be held for treason, Republican or Democrat.

 

Throw them all out and start over with 535 random citizens. They'll do a far better job.

Edited October 15, 2013 by fan_since79

[Caralho]

You do realize that this is what the Republicans have been doing that in this situation, their position is give us what we want or the government stays shut and we default. 

[fan_since79]

The House of Representatives does have the constitutional power to make appropriations as they see fit. That is a valid exercise of their authority. They have sent appropriation bills on to the Senate, and each one has been rejected. At this point they're ready to concede Obamacare going forward, and merely want Congress to also enroll in the same program that the rest of America has to endure. 

 

The problem is not so much the Republicans wanting everything, but the Democrats conceding absolutely nothing. 

[Blarg]

Honestly, the government is running on a balanced budget right now. The income is exceeding money spent and they could pay off the debt in no time at this rate. So why turn the broken machine back on?

[Caralho]

The Democrats already made concessions on their CR. They shouldn't have to concede anything on basic funding of the government and raising the debt limit because that has never been done before.

[fan_since79]

Honestly, the government is running on a balanced budget right now. The income is exceeding money spent and they could pay off the debt in no time at this rate. So why turn the broken machine back on?

 

Exactly! You run ZERO deficits going forward by spending money that equals revenue coming in. More than enough to cover essential services and all entitlements.

 

The national debt has gone from $10 trillion to $16.7 trillion in five years under Obama. This course is simply disastrous.

[nate]

Honestly, the government is running on a balanced budget right now. The income is exceeding money spent and they could pay off the debt in no time at this rate. So why turn the broken machine back on?

 

I don't disagree that we need a balanced budget... but much of that income is coming from the salaries of middle class workers who now have no pay.  The burden of having that many unemployed middle class workers creates a much bigger issue than the governments overspending.

[fan_since79]

The idea that the Treasury has to default on Thursday morning is pure nonsense.

 

There's plenty of money to make the interest payments on the debt. The problem is, one party wants to continue to grow our debt until kingdom come. It has to stop at some point very soon, or this nation is finished.

Edited October 15, 2013 by fan_since79

[Caralho]

Exactly! You run ZERO deficits going forward by spending money that equals revenue coming in. More than enough to cover essential services and all entitlements.

 

The national debt has gone from $10 trillion to $16.7 trillion in five years under Obama. This course is simply disastrous.

 

So how much higher should taxes go? Because if you think you can get there by only cutting spending, that is insane.