Clo,
Are you GULLIBLE enough to BELIEVE that a failure to raise the debt ceiling IS, OR IRREVOCABLY LEADS TO, A "DEFAULT"?
You -- and all of America is being CONNED, again. Doesn't that anger you? Doesn't the thought of Obama and Geitner and the Democrats DELIBERATELY AND KNOWINGLY LYING TO THE AMERICAN PEOPLE AND FEAR MONGERING FOR POLITICAL PURPOSES ENRAGE YOU?
A "DEFAULT", by definition, is a failure to pay INTEREST on EXISTING formal debt (T bonds, etc.), Clo. That is ALL it is, and failure to raise the debt ceiling would NOT mean that the country wouldn't be ABLE to pay interest on existing debt.
Failure to raise the debt ceiling means, that employees and contractors who provide generally useless and undesired "services" may not be paid IMMEDIATELY. And, of course, NEW *PORK* might have to be put on the back burner. This has happened before and it did not result in a "default" ... so to SAY that it will this time is clearly a massive deception. That is a FACT, Clo, not a politician's dribblings. Someone needs to publicly CHALLENGE and rub the nose of Obama in this one...but nobody will...and most of the public, apparently including you?, is too busy SWALLOWING to actually think?
Beyond the initial interruption of "deficit spending to pork the government as usual", what would a failure to *PRINT* ITSELF NEW CREDIT CARDS (what a failure to "raise the debt ceiling" actually would be) actually bring? Well, history says it would most likely bring a "compromise" to resume borrowing within a month or so.
But what it COULD bring is what terrors Wall Street the human PIGS we call "politicians" the most: a REAL change, a sustainable change. At some point the US is going to have to shut down its house of Ponzi, aka the Fed, and direct the Treasury (as it is legally authorized to do) to PRINT dollars to cover immediate, urgent debts. Accompanying this, the government will -- hopefully -- make clear this is a one time thing and show that by MASSIVELY slashing the budget back to, say, 2000 levels. Do you think you could "survive" with the government "only" deficit spending at year 2000 levels, Clo?
You should be INSULTED AND ENRAGED that *YOUR* politicians would attempt to manipulate and deceive you in this way, Clo. You are, aren't you?
I have come to realize that men are not born to be free. Liberty is a need felt by a small class of people whom nature has endowed with nobler minds than the mass of men. -Napoleon
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