debt ceiling government shut down

[Unique_Carpenter]

Correct Rex,
Taxes are a component
of inflation.

Vita,
We're not talking isolationism. We're talking not paying to have folks kiss the usa ass.

[Tiny]

Originally Posted by eccieuser9500

Pretty soon, we're talking real money.

https://www.desmoinesregister.com/st...rs/5885974001/

This is never going to happen because both parties are addicted to debt. It would be interesting though to see what would happen if the debt ceiling were not raised. As long as the government kept making its interest payments and convinced people that was its first priority, I don't buy the doom and gloom. It would be like having a balanced budget amendment -- the government would be forced to live within its means. Or taking a credit card away from your 16 year old who went wild with it.

That said, people who know more about economics than I do could probably shoot to hell what I'm saying here. And I imagine in the event of a recession or periods of high inflation like we're having right now, they'd be right.

[Strokey_McDingDong]

I've no idea wtf is goin on

[Unique_Carpenter]

Originally Posted by Strokey_McDingDong

I've no idea wtf is goin on

Bankruptcy
Financial and moral

[NoirMan]

Originally Posted by Tiny

This is never going to happen because both parties are addicted to debt. It would be interesting though to see what would happen if the debt ceiling were not raised. As long as the government kept making its interest payments and convinced people that was its first priority, I don't buy the doom and gloom. It would be like having a balanced budget amendment -- the government would be forced to live within its means. Or taking a credit card away from your 16 year old who went wild with it.

That said, people who know more about economics than I do could probably shoot to hell what I'm saying here. And I imagine in the event of a recession or periods of high inflation like we're having right now, they'd be right.

That sounds like a terrible risk. We’ve never defaulted and the basis of our currency as well as our ability to be the major currency of the world is predicated on our never defaulting. There’s no guarantee that we could pay even the service on our debt much less obligations like SS and Medicare.

[Strokey_McDingDong]

Skid Row

[Jackie S]

Do any of you really believe that the “average” American gives a shit about the deficit or the national debt.

It’s just some huge number that means absolutely nothing in peopl s everyday lives.

[NoirMan]

Originally Posted by Jackie S

Do any of you really believe that the “average” American gives a shit about the deficit or the national debt.

It’s just some huge number that means absolutely nothing in peopl s everyday lives.

No they don’t.

It means plenty to their everyday lives, they just don’t understand how.

[the_real_Barleycorn]

Originally Posted by VitaMan

That is the isolationist ideology that had a strong following prior to WW2, and kept the United States out of the war for so long. America first is what I think their slogan was. Maybe we should have stayed out of WW2.

I say...ever hear of Pearl Harbor?

[Tiny]

Originally Posted by NoirMan

That sounds like a terrible risk. We’ve never defaulted and the basis of our currency as well as our ability to be the major currency of the world is predicated on our never defaulting. There’s no guarantee that we could pay even the service on our debt much less obligations like SS and Medicare.

I don't think I explained that very well. We wouldn't default in the scenario I described. We'd continue to pay on our debt. Instead we'd cut other expenditures -- military, corporate and farm subsidies, and a whole lot more. If you don't raise the debt ceiling, it's the same as having a balanced budget. When times are good, when the economy is growing and there are lots of jobs out there, like now, that might make sense. Although admittedly it would be difficult to engineer overnight. And like I said, it's a moot point, both parties are addicted to debt.

[NoirMan]

To be honest I’ve never really understood the whole debt ceiling idea. It seems like it should just be built into the spending bill on the revenue side. Makes little sense to pass a bill allowing spending then a year or two later deciding how that spending will be paid for. Why they were decoupled never made sense to me.

[Strokey_McDingDong]

Originally Posted by the_real_Barleycorn

I say...ever hear of Pearl Harbor?

I know, right? Wtf is he saying? The lights are on but no one's home

[VitaMan]

Study history and you will understand

[rexdutchman]

A perfect storm is a making,,, in the economy ( remember to big to fail ) apparently no one does

[dilbert firestorm]

Originally Posted by rexdutchman

A perfect storm is a making,,, in the economy ( remember to big to fail ) apparently no one does

they know, they just don't care.