If we default-poll

Repeal all the increases Obama gave his minions and appointees for starters. Then look at reductions across the board. When the tax recipients outnumber the tax payers, socialism has been achieved and failure is inevitable.

JMC, I already stated previously this whole thing is stupid reckless theatrics. FY2011 money is already budgeted and voted on. We need a short term debt ceiling increase and a huge effort long term effort to reform entitlements, budgets, and tax codes. All this is not going to happen in a few weeks, or even this year.

I don't short anything or invest anymore. Its all rigged. 100% Money market at 0% and that is an iffy loser investment too. I'd rather have it in cash in a safe so none of these Bstids SOB's can use my money for free.

But what of the 14th Amendment, Section 4? If Congress defaults on debts by not raising the debt ceiling, will they not be in violation of the Constitution?

jmc wrote:

Joe wrote: Grady, its not a default. Its a debt ceiling - no new borrowing to fund the 40% of gov't we are borrowing to pay for every week. Interest on old debt could still be paid.

Somebody won't get paid. Who do you choose? Pick your poison.

Indeed - take the poison yourself or poison the well with it instead. People are quite fond of saying they would die if it would save the life of their children - they may soon have the opportunity to prove that their words are more than empty platitudes by imposing upon themselves the austerity that must occur rather than imposing upon their children, grandchildren and great grandchildren and beyond.

Who do you choose to suffer jmc? Yourself or the children? I'm good with bearing the responsibility myself for what my generation did, are you?

Something the Dog Said wrote: But what of the 14th Amendment, Section 4? If Congress defaults on debts by not raising the debt ceiling, will they not be in violation of the Constitution?

As noted many times previously, the government can service its debt without defaulting and without raising the debt ceiling. It can't keep all of its social promises under such a scenario, but it can service the debt on the notes it has issued and still have lots of money left over, just not as much as it wants to have.

PrintSmith wrote:

jmc wrote:

Joe wrote: Grady, its not a default. Its a debt ceiling - no new borrowing to fund the 40% of gov't we are borrowing to pay for every week. Interest on old debt could still be paid.

Somebody won't get paid. Who do you choose? Pick your poison.

Indeed - take the poison yourself or poison the well with it instead. People are quite fond of saying they would die if it would save the life of their children - they may soon have the opportunity to prove that their words are more than empty platitudes by imposing upon themselves the austerity that must occur rather than imposing upon their children, grandchildren and great grandchildren and beyond.

Who do you choose to suffer jmc? Yourself or the children? I'm good with bearing the responsibility myself for what my generation did, are you?

Absolutely, Lets get real though. Give me one example of a generation that left zero debt to their children? Not us, we paid way more to take care of our parents and grandparents and invested in our children, that is the history of life. What planet do you live on?
The Tea party mentality won, take your gains and don't over reach until you cause a backlash with your arrogance. Geez! It"s called a correction. Nobody has to suffer, unless you are Catholic, I can say that because I was raised Catholic. LOL

Did we really take care of the Greatest Generation jmc? Did we bring them into our homes when they got old or move into theirs to take care of them as did generations past? Did we tend to their needs personally - or did we simply decide to pay some more in taxes and expect someone else to assume that duty with the money we provided and expect that others would do the same for us when our time came. Let's be honest jmc. The Boomers are perhaps the most selfish generation to exist thus far, and we've raised our offspring to be more selfish still. We decided that we couldn't be bothered to meet our obligations ourselves, so we borrowed a bunch of money so that we could pay someone else to meet them for us. We didn't want to bother donating time to charity, we asked the government, via our elected representatives, to borrow the money necessary to provide the charity and then oversee its dispersal. Harry Truman, a regressive's regressive fully committed to the folly of FDR's New Deal, vetoed an appropriations bill slated to give the Red Cross money from the federal coffers saying that private charities should rely on private donations. Now the federal government is handing out money to private charities like candy on Halloween. The private charities have become dependent upon the benevolence of the federal government because we have copped the attitude that government is responsible for doling out our charity. That is an abdication of our obligations, not a shouldering of them. The result of that abdication, and many, many more, is a federal deficit of over $14 Trillion and future unfunded liabilities that are nearly 8x that amount. All in 50 short years, not quite the span of my lifetime. There is nothing to be proud of here jmc, but plenty to be ashamed of.

LadyJazzer wrote: The only bozos I see are the ones who are too ignorant to understand the impact of a default... Now, THAT'S scary.

There is more intelligence in my little pinky than in all 2 million of your boring copy and paste, Huffing and puffington outrage posts combined. Go stick it in your ear sideways Looney Toons.

I really enjoy the intelligent, insightful discourse. It's refreshing how everyone weighs what the other side has to say. :/. Just like in D.C.

Joe wrote:

LadyJazzer wrote: The only bozos I see are the ones who are too ignorant to understand the impact of a default... Now, THAT'S scary.

There is more intelligence in my little pinky than in all 2 million of your boring copy and paste, Huffing and puffington outrage posts combined. Go stick it in your ear sideways Looney Toons.

WOW, I do not know you well enough to tell if you are serious or not. I suggest you regard her as the left wing cartoon channel, I do.