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you are going to effects of what happens, because of the not being able to borrow. ...i understand that
i am stating plainly.......we were never going to default..never. those were scare tactics of politicians in Washington.
going pass the 17th, the u.s. still has the money to meet its obligations, on the mandatory spending becuase of tax revenues.
however we would not be able to borrow any more money, .......so every dime of tax money for discretionary spending would have to be prioritized.
meaning we could meet our bills on things which government must do, however things which government does not have to do, would, ..........not likely be funded.........many things would be cut, its estimated the u.s. has 1 to 1 1/2 trillion dollars in unnecessary spending, it does not have to engage in.
from 1788 to 1995....it took the u.s. to reach the 1.5 trillion dollar budget mark, today just 18 years later........our budget is 3.5 trillion..in 18 years we have more than doubled the budget, then it took 207 years to reach.
Washington has the money to pay it constitutional obligations, but going pass the 17th, means no more pork, and uncontrolled spending, Washington would have to watch every dollar it spends.
except it was not just the people in Washington warning us, it was the entire world!
i do not know why simple math always fails........
the federal government collects taxes...many taxes..they dont stop...... they continue to flow into the government at a rate of over 250 billion a month.
interest on the debt is mandatory it must be paid...no matter what.
all revenues flowing into Washington would have to be prioritized to meet current spending.
you are going to effects of what happens, because of the not being able to borrow. ...i understand that
i am stating plainly.......we were never going to default..never. those were scare tactics of politicians in Washington.
going pass the 17th, the u.s. still has the money to meet its obligations, on the mandatory spending becuase of tax revenues.
its estimated the u.s. has 1 to 1 1/2 trillion dollars in unnecessary spending...
from 1788 to 1995....it took the u.s. to reach the 1.5 trillion dollar budget mark, today just 18 years later........our budget is 3.5 trillion..in 18 years we have more than doubled the budget, then it took 207 years to reach.
Washington has the money to pay it constitutional obligations, but going pass the 17th, means no more pork, and uncontrolled spending, Washington would have to watch every dollar it spends.
if you have the money to meet your constitutional obligations..what is the problem?
that foreign countries dont get their aid.
It depends on what questions were submitted to be polled, who they polled, who commissioned the poll.
Poll numbers are nothing more than data to be manipulated, what results do you want.
More and more people every week seem to be going to the Tea Party meeting here in town every month.
Debt default involves failing to make debt service payments on time. Debt service includes maturing principal and interest. Your definition includes interest, alone. There was uncertainty as to whether the U.S. would continue to be able to borrow sufficient funds to meet its principal obligations. That level of uncertainty made it impossible to be certain that the U.S. would not default on its debt service. So, while one cannot say the U.S. would be assured of having defaulted on its debt service, one cannot say that the U.S. would "never" have defaulted on its debt service. However, the experience of countries that wound up in situations where they began to miss payments does not provide comfort.
The 17th was not the date on which the U.S. defaulted. It was the date on which the U.S. had no additional extraordinary measures available. The estimate was that it would have had $30 billion in cash on hand on that date giving it a narrow margin going forward. The CBO estimated that the cash balance would have been exhausted between October 22 and October 31.
https://www.cbo.gov/sites/default/files/cbofiles/attachments/44608-FederalDebt.pdf
Whether spending is "necessary" or not is a matter of political and ideological view. That's entirely a different matter from how the government would have handled a situation under which its cash was eventually depleted and whether that situation would have led to its inability to roll over its maturing debt triggering a debt default.
One needs to put the those debt numbers into context by comparing them to the size of the nation's economy. The big fiscal challenge is in the longer-term, where the nation faces enormous imbalances. Reform--mandatory spending and tax policy--will be needed to address those imbalances. The U.S. still enjoys the flexibility to do so in a meaningful fashion without large-scale macroeconomic disruption. Any debt crisis that would have resulted from the failure to raise the debt ceiling on a timely basis would have been self-inflicted, not the result of an inability to meet those imbalances that still lie in the future.
i dno't think it is possible to manipulate the machines that process our payments on the fly.
do you believe the u.s. would have defaulted on its debt, even if we never raised the debt ceiling?
We weren't at risk for default but we were on a downgrade watch...and were downgraded last time the debt ceiling was used as a political tool.
I think the Republicans are smarter than that..... they don't want to have this happen again, even closer to the election. They played out the hand and lost. The Obama care debate is now substantially behind us.
Really? Democrats unanimously voted for a Sequestration level budget, I don't consider that a loss...I consider that Dems getting played without even realizing it.
On one hand you are correct, sequestration level spending is a win for the Cons. On the other hand, it isn't a win because they could have had that two weeks ago, passed a clean CR and declared victoryInstead, they went for what was behind door #2, which was not attainable and, as expected they fell short, costing the US economy $24B in the process and embarrassed themselves. So, the net-net, is the Cons snatched defeat from the jaws of victory; which they are so good at (Sharon Angle, Christine O'Donnell, Ken Buck, Todd Akin, Richard Murdock, control of the US Senate).
Good judgment and knowing when to quit are lacking on the right side of the aisle.
oh, not raising the debt ceiling will create problems. however, those problems can be solved, but Washington, does not have the guts to do that, nor the will
On one hand you are correct, sequestration level spending is a win for the Cons. On the other hand, it isn't a win because they could have had that two weeks ago, passed a clean CR and declared victoryInstead, they went for what was behind door #2, which was not attainable and, as expected they fell short, costing the US economy $24B in the process and embarrassed themselves. So, the net-net, is the Cons snatched defeat from the jaws of victory; which they are so good at (Sharon Angle, Christine O'Donnell, Ken Buck, Todd Akin, Richard Murdock, control of the US Senate).
Good judgment and knowing when to quit are lacking on the right side of the aisle.
we could never have defaulted....
I think the american people were played... again.
the math doesn't add up to a default... it never did.
well, unless the administration were to purposefully default... but i don't think they would do that.
When you furlough contracted workers you are defaulting on payment.
defaulted on our debt.........meaning...... those we borrow from...china, investors.
the if the u.s. had defaulted on those lenders....if would be be able to borrow or it would have to pay very high rates to do so.
however the u.s has enough revenue coming in very month to cover its mandatory spending, also it has the ability to cut its budget, and to sell assets it has...the federal government has billions of dollars worth of property.
Either way you are supposed to pay your debts. The only point you made is that defaulting on the little guy is just a-ok.
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