US reaches debt limit

http://www.huffingtonpost.com/2011/05/16/geithner-debt-ceiling_n_862382.html

not like this debt ceiling means anything though... debt will keep increasing.

Not like national debts mean jack to begin with.

Not like national debts mean jack to begin with.

Verge_6

[QUOTE="Verge_6"]

Not like national debts mean jack to begin with.

Nibroc420

[QUOTE="Nibroc420"][QUOTE="Verge_6"]

Not like national debts mean jack to begin with.

Verge_6

Naw I just see it as how powerful we are. We must be a pretty strong country to have that high of a debt and nothing any other country can do about it.

Naw I just see it as how powerful we are. We must be a pretty strong country to have that high of a debt and nothing any other country can do about it.

slipknot0129

[QUOTE="slipknot0129"]

Naw I just see it as how powerful we are. We must be a pretty strong country to have that high of a debt and nothing any other country can do about it.

EmpCom

It really doesn't mean anything. The only thing it has any effect on is the US dolllar and not even a large way on that

[QUOTE="EmpCom"][QUOTE="slipknot0129"]

Naw I just see it as how powerful we are. We must be a pretty strong country to have that high of a debt and nothing any other country can do about it.

slipknot0129

I was under the impression that this particular debt was the amount that the government had borrowed from the people in order to pay for its "goings on".

I was under the impression that this particular debt was the amount that the government had borrowed from the people in order to pay for its "goings on".

Alter_Echo

So.....how long can we procrastinate before we need to do anything?Serraph105

[QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?-Sun_Tzu-

[QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?-Sun_Tzu-

[QUOTE="-Sun_Tzu-"][QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?Nibroc420

We will look like poor debtors.

Ok so let me make sure i understand this correctly, they are maxed out and will now begin pillaging other funds to stave off what will still happen anyway in or around August?

What are they hoping to accomplish by raiding pensions? By doing that, are they simply trying to "keep the lights turned on" long enough to come up with another more long term fix via budget restructuring, spending cuts and program disbands?

[QUOTE="-Sun_Tzu-"][QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?Nibroc420

[QUOTE="-Sun_Tzu-"][QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?Nibroc420

[QUOTE="-Sun_Tzu-"][QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?Nibroc420

[QUOTE="-Sun_Tzu-"][QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?Nibroc420

[QUOTE="-Sun_Tzu-"][QUOTE="Serraph105"]So.....how long can we procrastinate before we need to do anything?Nibroc420

[QUOTE="Verge_6"][QUOTE="Nibroc420"] And when the US defaults. What happens?Nibroc420

No they can't

[QUOTE="Nibroc420"][QUOTE="Verge_6"] Nothing.surrealnumber5

[QUOTE="surrealnumber5"][QUOTE="Nibroc420"] The USA owes China millions. technically they could claim land.Nibroc420

is that even a reliable source/website?

If the US defaults on any of its debt, it's just likely to find it much harder to borrow money and if it does, at a much higher rate of interest - Just look at the Irish or Greeks (on a much worse scale, though).

I hope the U.S. defaults... it will be a good thing.

I hope the U.S. defaults... it will be a good thing.

BMD004

I hope the U.S. defaults... it will be a good thing.

BMD004

A great man once told me deficits don't matter:P

Sad thing is the debt ceiling means nothing, and the govs just gonna keep pushing it higher....

You do know this can't go on forever... Even the U.S will have to default at some time... And I call it happening within ten or twenty years if nothigs done soon.

Sad thing is the debt ceiling means nothing, and the govs just gonna keep pushing it higher....

You do know this can't go on forever... Even the U.S will have to default at some time... And I call it happening within ten or twenty years if nothigs done soon.

Fundai

[QUOTE="Fundai"]

Sad thing is the debt ceiling means nothing, and the govs just gonna keep pushing it higher....

You do know this can't go on forever... Even the U.S will have to default at some time... And I call it happening within ten or twenty years if nothigs done soon.

DroidPhysX

It would if we could excpect the US government not to raise it's ceiling....

There will eventually be a point when no matter how high they raise it no one will lend them money

Naw I just see it as how powerful we are. We must be a pretty strong country to have that high of a debt and nothing any other country can do about it.

slipknot0129

[QUOTE="DroidPhysX"][QUOTE="Fundai"]

Sad thing is the debt ceiling means nothing, and the govs just gonna keep pushing it higher....

You do know this can't go on forever... Even the U.S will have to default at some time... And I call it happening within ten or twenty years if nothigs done soon.

Fundai

It would if we could excpect the US government not to raise it's ceiling....

There will eventually be a point when no matter how high they raise it no one will lend them money

They bought their tickets. They knew what they were getting into. I say let 'em crash. Maniacc1

Here here!!!!

According to a CNN article, only 18 percent of US citizens thought it wiser to raise the debt ceiling than to default on it's debt in August...

it'll be raised like always and we won't default