Aug 2nd is the real debt deadline. There is not another week : U.S. Treasury

[QUOTE="Nibroc420"][QUOTE="Saturos3091"]

It's not just that they could tax the rich more, it's that they could also stop spending so much. Do you know how many worthless government programs are out there at the moment? How many bloated, ineffectual offices there are out there (besides congress, mind you :P)? We don't NEED that stuff. We could cut those AND tax more, and have the debt paid off twice as quickly and then we'd be in a much better place for passing other bills and perhaps lowering taxes or founding (useful) government programs after the economy has been fixed.

Mafiree

[QUOTE="nitekids2004"]

I'm pretty sure US is gonna pull through this one.

Serraph105

Yeah, Dow Jones not crashing means investors are still very very confident of US being able to pay its debt.

Not to mention almost everyone in Congress has a stake in the stock/financial market (I mean cmon, everyone there probably owns some form of stocks). Unless they'reshort-selling or heavily invested in put options :lol: then everyone's screwed.

[QUOTE="Serraph105"][QUOTE="nitekids2004"]

I'm pretty sure US is gonna pull through this one.

nitekids2004

Yeah, Dow Jones not crashing means investors are still very very confident of US being able to pay its debt.

Not to mention almost everyone in Congress has a stake in the stock/financial market (I mean cmon, everyone there probably owns some form of stocks). Unless they'reshort-selling or heavily invested in put options :lol: then everyone's screwed.

[QUOTE="-Sun_Tzu-"]Vague how? I made a broad statement, not a vague one. The U.S. still defaults even if we pay the interest on our debt. The U.S. has a countless number of obligations. If we don't pay social security recipients, that is a default. If we don't pay veteran's benefits, that is a default. If we don't pay current troops overseas, that is a default. If we don't pay lower income people in food stamps, that is a default. If we don't give college students the federal loans that they are entitled to, that is a default. I can go on and on. The U.S. has a legal obligation to honor all of these contracts; from interest on our debt to food stamps. If we don't honor these legally binding contracts, we'd be going into default. airshocker

One can be vague by being broad.

We won't be going into default concerning paying the interest on our debt, which seems to be the one thing that would definitely screw our world up.

[QUOTE="airshocker"]

[QUOTE="-Sun_Tzu-"]Vague how? I made a broad statement, not a vague one. The U.S. still defaults even if we pay the interest on our debt. The U.S. has a countless number of obligations. If we don't pay social security recipients, that is a default. If we don't pay veteran's benefits, that is a default. If we don't pay current troops overseas, that is a default. If we don't pay lower income people in food stamps, that is a default. If we don't give college students the federal loans that they are entitled to, that is a default. I can go on and on. The U.S. has a legal obligation to honor all of these contracts; from interest on our debt to food stamps. If we don't honor these legally binding contracts, we'd be going into default. -Sun_Tzu-

One can be vague by being broad.

We won't be going into default concerning paying the interest on our debt, which seems to be the one thing that would definitely screw our world up.

[QUOTE="nitekids2004"]

[QUOTE="Serraph105"] Considering that this is mostly just politics I'd say you are probably right. I'd agree with you 100%, but the tea party members have me on edge. Seriously I may not like most republicans in Congress right now, but I do trust them enough that I believe they understand the need to do the essentials like this. The tea party on the other hand, I just don't get the feeling that they understand what needs to be done.Serraph105

Yeah, Dow Jones not crashing means investors are still very very confident of US being able to pay its debt.

Not to mention almost everyone in Congress has a stake in the stock/financial market (I mean cmon, everyone there probably owns some form of stocks). Unless they'reshort-selling or heavily invested in put options :lol: then everyone's screwed.

Well then... :lol:

I always say you need a basic knowledge in economics beforeholding a lawmaking position.

[QUOTE="Serraph105"]

[QUOTE="nitekids2004"]

Yeah, Dow Jones not crashing means investors are still very very confident of US being able to pay its debt.

Not to mention almost everyone in Congress has a stake in the stock/financial market (I mean cmon, everyone there probably owns some form of stocks). Unless they'reshort-selling or heavily invested in put options :lol: then everyone's screwed.

nitekids2004

Well then... :lol:

I always say you need a basic knowledge in economics beforeholding a lawmaking position.

seriously check this out. This guy says he actually wants to lower the debt ceiling.

[QUOTE="nitekids2004"]

[QUOTE="Serraph105"] I don't think they believe anything bad will actually come of not raising the debt ceiling.

Serraph105

Well then... :lol:

I always say you need a basic knowledge in economics beforeholding a lawmaking position.

seriously check this out. This guy says he actually wants to lower the debt ceiling.

[QUOTE="nitekids2004"]

[QUOTE="Serraph105"] I don't think they believe anything bad will actually come of not raising the debt ceiling.

Serraph105

Well then... :lol:

I always say you need a basic knowledge in economics beforeholding a lawmaking position.

seriously check this out. This guy says he actually wants to lower the debt ceiling.

Thanks for the nice laughs :lol:

After August 2nd, if the debt ceiling is not raised, the government will not be able to afford to pay retired American's their Social Security Checks, Veterans Pensions or Medicare/Medicaid benefits.

In other words, a WHOLE LOT OF ANGRY, PISSED OFF AMERICANS will want to strangle the GoP Leadership for not compromising on some new taxes for the richest of Americans to cover the revenue required to maintain those programs.

There area handful of GoP leaders like Cantor who honestly believe that they can win elections by screweing over retired Americans just to make a point about taxes on rich people.

They are wrong. They will fail.

They're basically handing over their seats to Democrats in the next elections even though they are delusionally thinking that it will win more GoP seats.

They have no idea the s***storm they are going to be kicking up when grandma and grandpa don't get their social security checks next month.

And it's all because Boehner/Cantor won't compromise to meet the Democrats halfway on the budget.

If we default, I'm going to switch my political party.

What's even more sad is that the GoP leadership is trying to get a vote on their own Budget plan that has zero compromises in it - and will never pass the Senate to begin with.

They are wasting their time on a bill that will never be passed anyway, just to make some sort of stupid, selfish, symbolic bill that they foolishly believe will win them new seats in upcomming elections.

This is with many members of the GoP AGAINST Boehner's plan.

There are actually decent-minded Republicans who understand the severity of the situaiton and are refusing to support it. But their leadship is hell-bent on making a spectacle out of the fear it's creating for pure political gain.

The GoP needs new leadership and they need it FAST because the current crop is being controlled by the Tea Party who care about nothing but their own bank accounts and nothing else.

[QUOTE="-Sun_Tzu-"]You don't have to trust Geithner word; he is not the only one who's been saying this. Moody's, S&P's, the IMF, and a long list of other well respected analysts have come out and said the same exact thing. Bad things are going to happen August 2nd if we don't raise the debt ceiling. There's no avoiding it. The U.S. is going to default on its obligations - the money is just not going to be there. Since May 16th, when we hit the debt ceiling, the treasury has been shuffling money around to try and avoid this unimaginable scenario. But in a few days he won't have any more money to shuffle around. airshocker

We're not going to default on the interest to our debt. That's fear-mongering. We take in enough tax revenue to pay for the debt and quite a few other things.

If tax-revenue was enough the US government wouldn't have needed to borrow money in the first place...

All I'm saying is I don't trust a word Geithner says on this subject anymore.

airshocker

Goodbye USA. All Superpowers come to an end eventually :) Also I am 90% sure that the real risk of default begins on August 15th(According to experts) and this is because although the USA will run out of borrowed money on the 2nd, they have enough cash to keep going until the 15th. http://news.yahoo.com/default-deadline-truly-aug-2-analysts-no-000349079.html http://economicsnewspaper.com/policy/spain/revelation-august-15-the-day-is-the-deadline-for-debt-51227.html In other words, the US can run on bare scraps until August 15th. Then, if your politcal parties still can't make a deal, then your ******.DeX2010

Well, Obama could use executive order and raise the Debt Ceiling for 90 days. That would get us through Thanksgiving!

But, the Holiday Shopping season looks like it'll be absolutely DEAD for the retail industry because nobody will have any money to go shopping with!

MERRY CHRISTMAS! Here's some coal!

Ooops - you can't afford coal either. Give me that back.

If we default, I'm going to switch my political party.

sonicare

What are you currently?

Everyone in Congress should be fired after this whole thing is over and be unable to run for office for the rest of their lives. This is crazy.

[QUOTE="sonicare"]

If we default, I'm going to switch my political party.

What are you currently?

Fellas there is going to be no default, there is no way the tebaggers would destroy the krook brothers empire or bankster annual bonuses.

Fellas there is going to be no default, there is no way the tebaggers would destroy the krook brothers empire or bankster annual bonuses.

EasyStreet

This ultimately comes down to one thing:

The Rich Paying more taxes (Dem's proposal) vs. Retired Americans and War Veterans losing their benefits (GoP proposal)

Sorry Rich Guys, you won't be getting much support beyond the GoP leadership and their Tea Party benefactors. Make the compromise or tick off A LOT of registered voters. (And screw up the whole economy in the process)

[QUOTE="Atmanix"]

[QUOTE="sonicare"]

If we default, I'm going to switch my political party.

sonicare

What are you currently?

[QUOTE="Atmanix"]

[QUOTE="sonicare"]

If we default, I'm going to switch my political party.

sonicare

What are you currently?

[QUOTE="sonicare"][QUOTE="Atmanix"]

What are you currently?

surrealnumber5

[QUOTE="surrealnumber5"]

[QUOTE="sonicare"] I'm a registered republican, but growing disenfranchised with them. Especially with the more radical elements that seem to be taking over the party. I've always been somewhat of a fiscal conservative, but on social issues my stances are more in line with the democrats. Hard to find a party that represents me.EasyStreet

Don't believe it, this is just a random day picked to use to scare the crap out of old people. There have been plenty of economists pointing out that the government still will be able to fill it's obligations well beyond Aug 2nd. Don't believe the hype.

Further more, the government is continuingly defaulting on the american people in the form of inflation. Not a damn talking head on any of the news channels are even mentioning that.

Ron Paul says it the way it really is, as usual...

Don't believe it, this is just a random day picked to use to scare the crap out of old people. There have been plenty of economists pointing out that the government still will be able to fill it's obligations well beyond Aug 2nd. Don't believe the hype.

Further more, the government is continuingly defaulting on the american people in the form of inflation. Not a damn talking head on any of the news channels are even mentioning that.

Ron Paul says it the way it really is, as usual...

jer_1

[QUOTE="jer_1"]

Don't believe it, this is just a random day picked to use to scare the crap out of old people. There have been plenty of economists pointing out that the government still will be able to fill it's obligations well beyond Aug 2nd. Don't believe the hype.

Further more, the government is continuingly defaulting on the american people in the form of inflation. Not a damn talking head on any of the news channels are even mentioning that.

Ron Paul says it the way it really is, as usual...

surrealnumber5

[QUOTE="surrealnumber5"]

[QUOTE="jer_1"]

Don't believe it, this is just a random day picked to use to scare the crap out of old people. There have been plenty of economists pointing out that the government still will be able to fill it's obligations well beyond Aug 2nd. Don't believe the hype.

Further more, the government is continuingly defaulting on the american people in the form of inflation. Not a damn talking head on any of the news channels are even mentioning that.

Ron Paul says it the way it really is, as usual...

comp_atkins

Horse-s***.

Geithner has been saying that since six months ago. Man has cried wolf so many times I don't see how we can trust a word that comes out of Treasury's mouth.

airshocker

I thought those were like "warning checkpoints" or something.

Aug. 2 has been the actual deadline for awhile.

[QUOTE="airshocker"]

Horse-s***.

Geithner has been saying that since six months ago. Man has cried wolf so many times I don't see how we can trust a word that comes out of Treasury's mouth.

Optical_Order

I thought those were like "warning checkpoints" or something.

Aug. 2 has been the actual deadline for awhile.

Furthermore thats not a really good example.. Seeing as what happened in the end is the wolf actually came and ate the boy..

[QUOTE="Optical_Order"]

[QUOTE="airshocker"]

Horse-s***.

Geithner has been saying that since six months ago. Man has cried wolf so many times I don't see how we can trust a word that comes out of Treasury's mouth.

sSubZerOo

I thought those were like "warning checkpoints" or something.

Aug. 2 has been the actual deadline for awhile.

Furthermore thats not a really good example.. Seeing as what happened in the end is the wolf actually came and ate the boy..

the wolf also eats the parents.............or at least it does in my version. :twisted:

[QUOTE="sSubZerOo"]

[QUOTE="Optical_Order"]

I thought those were like "warning checkpoints" or something.

Aug. 2 has been the actual deadline for awhile.

Serraph105

Furthermore thats not a really good example.. Seeing as what happened in the end is the wolf actually came and ate the boy..

the wolf also eats the parents.............or at least it does in my version. :twisted:

[QUOTE="Nibroc420"]I never once heard may 31st. Perhaps you're getting stuff mixed up? Regardless, it's not something that should be taken lightly.airshocker

Perhaps I got the dates mixed up, but he has made arbitrary dead-lines before. I see no reason to listen to a word he says anymore in regards to the debt ceiling.

[QUOTE="airshocker"]

[QUOTE="Nibroc420"]I never once heard may 31st. Perhaps you're getting stuff mixed up? Regardless, it's not something that should be taken lightly.nintendofreak_2

Perhaps I got the dates mixed up, but he has made arbitrary dead-lines before. I see no reason to listen to a word he says anymore in regards to the debt ceiling.

[QUOTE="Serraph105"]

[QUOTE="sSubZerOo"]

Furthermore thats not a really good example.. Seeing as what happened in the end is the wolf actually came and ate the boy..

surrealnumber5

the wolf also eats the parents.............or at least it does in my version. :twisted:

[QUOTE="surrealnumber5"]

[QUOTE="Serraph105"]

the wolf also eats the parents.............or at least it does in my version. :twisted:

chessmaster1989

[QUOTE="chessmaster1989"][QUOTE="surrealnumber5"] in my version the wolf eats the girl and he and his master (the woodsmen) live happily ever after

surrealnumber5

[QUOTE="Serraph105"]

[QUOTE="sSubZerOo"]

Furthermore thats not a really good example.. Seeing as what happened in the end is the wolf actually came and ate the boy..

the wolf also eats the parents.............or at least it does in my version. :twisted:

[QUOTE="surrealnumber5"]

[QUOTE="chessmaster1989"] In my version the girl paid the wolf a sum of money to stop him eating her, thus resulting in a market solution to the problem.chessmaster1989

[QUOTE="chessmaster1989"][QUOTE="surrealnumber5"] if only she had thought of that before the wolf started :P

Serraph105

So is now the time to quickly stock tons of ammo and prepare for anarchy? I swear that's what I've been reading for the past few days in OT.

So is now the time to quickly stock tons of ammo and prepare for anarchy? I swear that's what I've been reading for the past few days in OT.

Wasdie

You haven't done that already? I am disappoint.

[QUOTE="Wasdie"]

So is now the time to quickly stock tons of ammo and prepare for anarchy? I swear that's what I've been reading for the past few days in OT.

airshocker

You haven't done that already? I am disappoint.

Well I have some ammo, around 400 rounds...

[QUOTE="airshocker"]

[QUOTE="Wasdie"]

So is now the time to quickly stock tons of ammo and prepare for anarchy? I swear that's what I've been reading for the past few days in OT.

Wasdie

You haven't done that already? I am disappoint.

Well I have some ammo, around 400 rounds...

[QUOTE="Wasdie"]

[QUOTE="airshocker"]

You haven't done that already? I am disappoint.

chessmaster1989

Well I have some ammo, around 400 rounds...

Damn I should go buy it before my money is useless and then ammo turns into currency.

Well I have some ammo, around 400 rounds...

Wasdie

I actually bought a 600 round case of lacquered iron-jacketed .223s like a month ago. Haven't had time to go shooting with my AR-15, though. I think I'm prepared for anarchy.