This is laughable. We have easily enough revenue to make the payments needed to avoid default. Politiciains treat Americans like such morons...
July 18, 2011
End of the world? Debt stalemate invokes language of Armageddon
But instead of scaring GOP into action and breaking deadlocked talks, Obama's biblical rhetoric has had the opposite effect
msnbc.com staff and news service reports
WASHINGTON — With time quickly running out to raise the U.S. debt ceiling, the Obama administration is turning to biblical rhetoric to underscore the disastrous consequences if the United States defaults.
For weeks Treasury Secretary Timothy Geithner and other administration officials have been warning of an economic "catastrophe" if the $14.3 trillion debt ceiling, which caps the amount Washington can borrow, is not raised by August 2.
Merriam-Webster dictionary defines catastrophe as "a momentous tragic event ranging from extreme misfortune to utter overthrow or ruin."
That definition appears to chime with the view of most economists, who agree that a U.S. default on its obligations would plunge the United States into a new recession and send shockwaves through international financial markets.
In interviews, speeches and news conferences, administration officials have used the word again and again.
But instead of scaring Republicans into action and breaking deadlocked debt talks it has had the opposite effect.
Full story and slideshow: http://www.msnbc.msn.com/id/43791431/ns/politics-capitol_hill/
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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