What if the Government Defaults?

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posted on Sep, 25 2013 @ 08:05 PM
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they don`t have to raise the debt limit in order to prevent the government from shutting down or defaulting.Raising the debt limit isn`t the only option it`s just the easiest and least painful option.
The other option would be to raise taxes,cut spending and start living within our means as a country,but that seems to be off the table.They seem to be saying that they would rather see the country go bankrupt if they aren`t allowed to borrow more money.

For most of us it is easier to spend less money than it is to try to make more, but for the government it`s easier for them to get more money than it is to spend less money.
In the long run defaulting on the debt would be a good thing for the country because it would bring the government in line with how we live,making it easier for the government to spend less money than it would be to try to get more money.




posted on Sep, 25 2013 @ 08:13 PM
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xuenchen
reply to post by AlienScience
 


Fail.

You need to cite genuine arguments.



Did you?

Seems like you are the one throwing around vague accusations without backing anything up.

I'm just responding likewise.



posted on Sep, 26 2013 @ 11:02 AM
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SasquatchHunter
We could demand the Chinese pay us back the $800 billion or so they owe us, and if they still refuse downgrade their credit like they did us. Then they wouldn't be able to buy the American parts they need to make their junk products work.

We could always refuse to pay on all those Swiss and Caribbean accounts that are really just tax havens for American corporations and wealthy individuals.

We could ask foreign nations to forgive our debt like we did them, or simply use the Aid they receive to pay them back.

If the U.S. economy fails so does the rest of the world. Debt ceilings credit ratings, government shutdowns? Political jargon and politics. No panic in the streets no global economic meltdown.


It's the other way arround. The Chinese owns almost 1 trillion of US debt. American parts?? Nope, those parts are made in China as well.
The US needs the world more then the other way arround and sure the world economy will be hit hard but would be better off really without.
She's like a harlot with other nations doing it with her, making her rich but now she's getting older and even needs more money to her even more expensive life style, where she even gets more dangerous to get what she wants with her countless of bodyguards (the army).

That said, I wonder if when the US gov. defaults the credit rating agency's in the US would downgrade the US. I don't think so but if so (no downgrade) other nations would get even more suspisious about her honesty and judgement (where she Judge all but not herself).

But hard to say what will happen with a government shutdown, they will just raise the debt ceiling most likely anyways. If not not sure how fast or how worse things get. The army and banks would be ok, but forget stuff like food stamps and perhaps they will take cash from stuff like retirement money.






More ignorance its amazing. America isn't goin to default on loans EVER! Forget about it, just like you conviently forget China has defaulted on their payments to Americans. I think the rest of your reply doesn't deserve a response.





 
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