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Democrats warn of US shutdown over debt

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posted on Feb, 5 2011 @ 09:28 AM
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www.breitbart.com...



The government will run out of money in about two months' time, according to the US Treasury Department, unless Congress votes to raise the federal debt ceiling.




If a shutdown were to occur, "citizens couldn't get their checks, veterans couldn't get their benefits, military payments would stop,"


I would be willing to bet that our lawmakers would still be able to get their paychecks though.




But while Democrats, along with most Republicans, agree on the need to avoid having the United States default on its debt, which likely would likely trigger a massive economic meltdown, some conservatives remain firmly against increasing ceiling.


And when the US defaults on its' debt the Chinese will be the first to come knocking on our door.




posted on Feb, 5 2011 @ 09:32 AM
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The government could also, um, errr, stop spending so much.

I mean, that IS another option, right?



posted on Feb, 5 2011 @ 09:38 AM
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reply to post by beezzer
 


They could, but we all know that will never happen. Hell, the government debt just jumped by another $105.8 BILLION in January. cnsnews.com...

And how the hell does raising the debt ceiling solve anything. I am no economist, but wouldn't that just weaken the dollar even further?



posted on Feb, 5 2011 @ 09:39 AM
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Originally posted by IamAbeliever
www.breitbart.com...

I would be willing to bet that our lawmakers would still be able to get their paychecks though.





...And people argue for these slime balls and work on their election campaigns. I've always said these people were in politics to gain power, fill their pockets and make politics their life time career on the backs of hard working people. They would throw us to the wolves if it came down between us and them. There's a reason they have secret bunkers made for themselves and the elite. They want to continue their hold on power at any cost.

edit on 5-2-2011 by WeRpeons because: (no reason given)



posted on Feb, 5 2011 @ 09:41 AM
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reply to post by IamAbeliever
 


Its not meant to solve anything. Just kick the can down the road a little longer.

If you are taking loans to pay interest on other loans you are ok till you reach the credit limit. Then the repo men come :-)



posted on Feb, 5 2011 @ 09:44 AM
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Originally posted by justwokeup
reply to post by IamAbeliever
 


Its not meant to solve anything. Just kick the can down the road a little longer.

If you are taking loans to pay interest on other loans you are ok till you reach the credit limit. Then the repo men come :-)



Unfortunately the repo men in this case are mostly Chinese. Guess I better clear a space on my wall for that picture of President Hu Jintao.



posted on Feb, 5 2011 @ 09:44 AM
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reply to post by IamAbeliever
 


Weakens the dollar, allows government more room to tax us more/to spend more, and provides zero oversight to their spending.



posted on Feb, 5 2011 @ 09:45 AM
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It's just like in our personal lives, if you live off credit and rob peter to pay paul you're just postponing the inevitable...Bankruptcy.



posted on Feb, 5 2011 @ 09:49 AM
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Could this be the final nail in our coffins? I mean if most of us getting paychecks cant cash them then...the economy would literally collapse, and millions would be homeless. Fuel would stop being used and delivered and imported for that matter, wede be in midevil times all over again. Only with radios and cars and trucks that would run on feul till the tanks and pmups are bone dry.
grocery stores would have to be ransacked, as no more deliverys would be made. oh..and ATS and our coumpters would be no more ide asume
The only ones who would still be able to live comfortable...are the super rich and wealthy, and members of congress only* like they really deserve that much



posted on Feb, 5 2011 @ 10:02 AM
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reply to post by IamAbeliever
 


How do you run out of something that isn't real to begin with?

That is like claiming all children will stop pretending.

I wish folks would stick with base realism.

Money is a lie.



posted on Feb, 5 2011 @ 10:25 AM
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Looks like they finally got it.
The other side has been warning us about the same thing for the last two years.



posted on Feb, 5 2011 @ 10:28 AM
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So what are the plans for "continuity of government"?
Shouldn't someone be taking a look at the playbook?



posted on Feb, 5 2011 @ 10:35 AM
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America has got to live in the real world......... I hear Ben Bernake is on about QE 3 and 'pumping' ANOTHER $6 billion into the US economy, opps sorry the trouser pockets of the traders so that they can further inflate commodoties !!!

Here in the UK the Government is about to start (Yes Start) a raft of cuts which alot of people don't like and disapprove of BUT the KICKER is that if we don't cut our cloth then we will go down the path of the American economic model and also reach a MASSIVE crisis point...... I mean as far as I understand American Politicians have NOT YET made any indication of cuts and beleive further money creation will create a recovery ???

As far as I see it, think of all this as a system........ Any system will operate bewteen parameters, much like a Pendulum in an old grand father clock......... For the past ten years plus the pendulum has been swinging ONE way and it has to swing the other, trouble is that until the politicians remove their feet from the pendulum it can't !!!

Regards

PDUK


edit on 5-2-2011 by PurpleDog UK because: spelling



posted on Feb, 5 2011 @ 10:36 AM
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Originally posted by Alethea
Shouldn't someone be taking a look at the playbook?


They are all to busy looking at Playboy. "What, the economy is collapsing and the US is bankrupt? Dude that sucks. Hey, did you check out the cans on Miss February?"



posted on Feb, 5 2011 @ 10:39 AM
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reply to post by IamAbeliever
 


From their iPads no less.

End TV and people will wake-up in 7 days.



posted on Feb, 5 2011 @ 10:52 AM
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Here is a small suggestion.

Why don't we cease all military operations in the middle east and bring our troops home, that should save us ohhh I dont know, a trillion dollars over the next year. Bankrupt nations do not have the luxury of waging expensive, pointless wars.

It also wouldn't hurt if our government stopped feeding, sheltering and providing full health benefits to the millions upon millions of illegal undocumented criminals who have scurried across our open boarders looking for a handout and a meal ticket. The tit has run dry.


These two things alone would be a massive improvement and a great start to repairing the gaping hole in our economy.



posted on Feb, 5 2011 @ 10:56 AM
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Originally posted by IamAbeliever
reply to post by beezzer
 

And how the hell does raising the debt ceiling solve anything. I am no economist, but wouldn't that just weaken the dollar even further?


I would think so. It sure seems to strengthen the money of other countries.

Wouldn't raising the debt ceiling also raise the cost of the payments, because it means they're still planning on spending more? Also wouldn't it make the country's credit rating worse, thus also again raising the cost of the payments even more, because the interest rate goes up when the credit rating goes down?



posted on Feb, 5 2011 @ 11:26 AM
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I'd like to see all public representatives (president, congress, etc) be paid no more than the average American, around 30k a year. Let's cut their millionaire pay. Next step, end the wars. Close the foreign bases. Cut the Pentagon funding big time. Next, find the people leeching off the system who are doing so illegally and cut them off (lying about dependents on tax forms, lying about foodstamps, etc).

That should lighten the burden 90%. The other 10% is electing officials who aren't creating laws that help corporations who hold monopolies in industry earn more money, and to eliminate the conflict of interest of having ex-corporate heads and ex-corporate lobbyists filling government positions that oversee their former industries.

Abolish all laws and regulations that make speech a crime, and weapons a crime, and restrain the power of the government when they attempt to use the Commerce Clause of the Constitution in order to subjugate the people and the rights of the people.

Just my opinion.



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