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1 Bulworth  Thu, Jun 30, 2011 1:35:17pm

Well, media villager Gloria Borger sez both Obama and GOP are acting like children, so you know, both sides do it, it's all equal, no one's really at fault, etc.

//

2 Prononymous, rogue demon hunter  Thu, Jun 30, 2011 5:06:15pm

I'm glad that we have so many of these idiots on record that they don't think defaulting will be a big deal. It will make weaseling out of responsibility that much harder when they go through with their little economic experiment and things don't go well.

I also find it quite odd that republicans are basically advocating for foreign regulatory interference in our government. Quite illogical as well because there isn't any indication that regulators will take their side. The IMF has already stated that this would hurt our credit rating and interest rates. And it is highly doubtful that they will consider us "serious" about repaying debits while refusing to raise taxes at the same time.

3 RogueOne  Fri, Jul 1, 2011 4:01:09am

re: #2 prononymous

I'm glad that we have so many of these idiots on record that they don't think defaulting will be a big deal.

Has anyone from either party said we should default on our debt? Not raising the debt limit doesn't equate to defaulting.

4 Prononymous, rogue demon hunter  Fri, Jul 1, 2011 2:45:34pm

re: #3 RogueOne

That's clearly not what I said. If you want to hear someone saying we shouldn't raise the debit ceiling because the result will be better than if we do, look at what Limbaugh said about it. But if you want a quote that matches what I said than simply look at the article quoted above, it's in bold.

5 BishopX  Sat, Jul 2, 2011 2:21:10pm

re: #4 prononymous

That's clearly not what I said. If you want to hear someone saying we shouldn't raise the debit ceiling because the result will be better than if we do, look at what Limbaugh said about it. But if you want a quote that matches what I said than simply look at the article quoted above, it's in bold.

In rogue's defense there is nothing to indicate that there will be a default on Aug 2. After Aug 2 there will still be government revenues and there will still be government spending. There just won't be enough revenue to cover all of the promised spending (stuff like debt service, social security and medicare). It's an open question who gets paid in that case. Obama would have to decide between stopping (or reducing) social security and medicare payments or servicing the debt.

6 Prononymous, rogue demon hunter  Sat, Jul 2, 2011 8:12:22pm

So basically Republicans are saying we won't default on the debit when the money runs short because instead of stiffing the nations foreign creditors we will stiff our elderly, needy, and poor citizens instead? And this is supposed to make their cynical move sound any better? Really? That's fucking disgusting.

7 freetoken  Sat, Jul 2, 2011 8:19:52pm

re: #5 BishopX

It's an open question who gets paid in that case. Obama would have to decide between stopping (or reducing) social security and medicare payments or servicing the debt.

Hmmmm... probably not.

The courts would step in, as is done on local levels, and mandate the spending that is already in the law. We are, after all, a "nation of laws", are we not?

As those who keep bringing up the 14th Amendment have noticed, the government is obligated to keep up it's end of the contract, so to speak.


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