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Thread: Here's what happens if we don't raise the debt ceiling-

  1. #1

    Post Here's what happens if we don't raise the debt ceiling-

    From Business Insider:
    Article by The Bipartisan Policy Center.

    http://www.businessinsider.com/what-...debt-ceiling-1

    I found the slides helpful in grasping what they predict outcomes will be. Considering that we're already broke and at level two in default prevention with the Treasury using extraordinary measures, Feburary 1st will be interesting.

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!



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  3. #2
    No worries, citizen, that report is just sensationalism. Everything is fine. The debt ceiling will be raised, and all will be fine.
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
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  4. #3
    Have to love that on any given day we can take in 9 billion and owe 30 billion on interest alone.... no worries people, all we need to do is raise our credit and well be fine... we wont bring in anymore money but now that 30 billion will be 31 billion and so on.

  5. #4
    Aw come on man there's already the gazillion "dollar" coin idea floating around to cover government largess...

  6. #5
    If they raise it , our credit rating should be cut , interest goes up , so , outgoing payments would go up ??

  7. #6
    Quote Originally Posted by oyarde View Post
    If they raise it , our credit rating should be cut , interest goes up , so , outgoing payments would go up ??
    why would you cut our credit rating? Raising the debt ceiling has no effect on our ability to print more money to pay off our debts.

  8. #7
    Quote Originally Posted by specsaregood View Post
    why would you cut our credit rating? Raising the debt ceiling has no effect on our ability to print more money to pay off our debts.
    The fact that they are not making real cuts ever and just kicking the can down the road with money printing is reason enough to cut. Sure they will never "default" on their payments, but their payments will continue to lose value until they are virtually worthless.

  9. #8
    Quote Originally Posted by jclay2 View Post
    The fact that they are not making real cuts ever and just kicking the can down the road with money printing is reason enough to cut. Sure they will never "default" on their payments, but their payments will continue to lose value until they are virtually worthless.
    Exactly, but thats not the "credit rating". Is not the credit rating supposed to be a measure of a debtors ability to pay back their debts? If the value of the currency the debt is denominated in should affect ones credit rating, then everybody with debts denominated in USD should have their credit rating dinged at the same time as the US govt.



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  11. #9
    Quote Originally Posted by jclay2 View Post
    The fact that they are not making real cuts ever and just kicking the can down the road with money printing is reason enough to cut. Sure they will never "default" on their payments, but their payments will continue to lose value until they are virtually worthless.
    yeah, so if we make the minimum payments (like a credit card) to cover interest alone, we are not taking a bite out of the principle. Thus, we (like a credit card) are/will be paying millions if not billions of dollars extra for money we are borrowing. what a waste of the country's production value.

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!



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