America going to default

[decker]

can,t see their being deal now. Too much gap between house and dem leaders to get things done in next 48 hours. Most journalists now say on twitter looking grim for a deal to happen.

 

[Redfish]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

 

[decker]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

I am not lying about dire conquences of the country going into default being bad. Might not be in first 24 hours but would be if longer then two or three days.

BBc news said this on website today

what would happen if country default

Markets around the world would plunge and global interest rates would rise.
furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.

In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.

i think that sums it up how bad it would be

 

[Nyvin]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

We only have so much control over "when" we default....

If China and Japan decide to turn in a lot of our bonds because they find our government irresponsible? They could easily sink us over night.

And really? defending the default and saying "it won't be that bad"??? It's something that has never happened in history, it'd be totally unexplored territory! How the heck can we know what will happen?

 

[Montecresto]

And none of that happens unless, that's what those controlling the economy want!

 

[decker]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

We only have so much control over "when" we default....

If China and Japan decide to turn in a lot of our bonds because they find our government irresponsible? They could easily sink us over night.

And really? defending the default and saying "it won't be that bad"??? It's something that has never happened in history, it'd be totally unexplored territory! How the heck can we know what will happen?

Well said . Risking a default is like jumping over a cliff without knowing where your going to land.

It be crazy if they allow the country to default knowing america might not be able its debt . As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

So another recession could be on the cards if your country defaults

 

[ScienceRocks]

Congrats republicans. You got what you wanted....

 

[Redfish]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

I am not lying about dire conquences of the country going into default being bad. Might not be in first 24 hours but would be if longer then two or three days.

BBc news said this on website today

what would happen if country default

Markets around the world would plunge and global interest rates would rise.
furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.

In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.

i think that sums it up how bad it would be

Yes, it would be bad, but it can only happen if obama chooses to ignore the debt payments and pay something else. There is plenty of revenue to pay the interest on the debt.

Will obama choose to pay for foodstamps and not service the debt? only if he is an idiot or is intentionally trying to destroy the US economy.

 

[Redfish]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

We only have so much control over "when" we default....

If China and Japan decide to turn in a lot of our bonds because they find our government irresponsible? They could easily sink us over night.

And really? defending the default and saying "it won't be that bad"??? It's something that has never happened in history, it'd be totally unexplored territory! How the heck can we know what will happen?

Well said . Risking a default is like jumping over a cliff without knowing where your going to land.

It be crazy if they allow the country to default knowing america might not be able its debt . As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

So another recession could be on the cards if your country defaults

at the risk of being repetitious:

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

 

[decker]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

I am not lying about dire conquences of the country going into default being bad. Might not be in first 24 hours but would be if longer then two or three days.

BBc news said this on website today

what would happen if country default

Markets around the world would plunge and global interest rates would rise.
furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.

In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.

i think that sums it up how bad it would be

Yes, it would be bad, but it can only happen if obama chooses to ignore the debt payments and pay something else. There is plenty of revenue to pay the interest on the debt.

Will obama choose to pay for foodstamps and not service the debt? only if he is an idiot or is intentionally trying to destroy the US economy.

But even if obama does pay the debt payment it would not be enough in long term if you default. heres two articles that point this out

Top U.S. bankers and Fed leaders are calling the possible repercussions of a default “unfathomable.” U.S. banker Jamie Dimon of JPMorgan Chase warned that it would shock money markets, which depend on the stability of the U.S. dollar. Stocks would crash – less because of the stability of the dollar and more due to the sheer panic that would entail. Millions of Americans would lose their homes, their cars and their nest eggs. We could end up with a crash so severe that it would be worse than the Great Depression and Recession combined.

and another article even more worrying if you default from investing website

According to the Bipartisan Policy Center, the Treasury will owe a $6 billion debt interest payment on October 31, $43 billion in Social Security and Medicare payments on November 1, and $29 billion in interest due on November 15. That makes defaulting on our debt frighteningly real.

So bad news all round if you default

 

[Katzndogz]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

obama INTENDS to default and blame republicans. He believes it will be the final nail in the republican coffin and leave the country fully and totally under democrat dictatorship.

 

[decker]

We only have so much control over "when" we default....

If China and Japan decide to turn in a lot of our bonds because they find our government irresponsible? They could easily sink us over night.

And really? defending the default and saying "it won't be that bad"??? It's something that has never happened in history, it'd be totally unexplored territory! How the heck can we know what will happen?

Well said . Risking a default is like jumping over a cliff without knowing where your going to land.

It be crazy if they allow the country to default knowing america might not be able its debt . As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

So another recession could be on the cards if your country defaults

at the risk of being repetitious:

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

of course their still risk of default even if obama pay this. I don,t want to repeat myself but

As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

 

[eflatminor]

America going to default

I understand lying like this helps to panic the masses into supporting your agenda, but it's still a lie.

For the record, our current level of federal tax revenue is more than 10 TIMES that which is necessary to make our debt payments.

The only way we default is if the current administration refuses to make that payment despite having PLENTY of money to do so.

 

[BreezeWood]

America going to default


No, the Republican Party is going to default America.

.

 

[Toddsterpatriot]

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

We only have so much control over "when" we default....

If China and Japan decide to turn in a lot of our bonds because they find our government irresponsible? They could easily sink us over night.

And really? defending the default and saying "it won't be that bad"??? It's something that has never happened in history, it'd be totally unexplored territory! How the heck can we know what will happen?

If China and Japan decide to turn in a lot of our bonds because they find our government irresponsible? They could easily sink us over night.

How do they "turn in a lot of our bonds"?

 

[eflatminor]

Well said . Risking a default is like jumping over a cliff without knowing where your going to land.

It be crazy if they allow the country to default knowing america might not be able its debt . As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

So another recession could be on the cards if your country defaults

at the risk of being repetitious:

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

of course their still risk of default even if obama pay this.

Wrong. If we make the debt payments, which we have PLENTY of money to do so, there is no risk of default.

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

Right, but we have money to repay bondholders. Again, more than 10 times what we need. There is no threat of default unless politicians choose to not make the payment, despite having the money to do so.

 

[ScienceRocks]

Your system during the early days in America's history failed. America is now a leader in this world and what you want is sucuidial.

 

[Toddsterpatriot]

Well said . Risking a default is like jumping over a cliff without knowing where your going to land.

It be crazy if they allow the country to default knowing america might not be able its debt . As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

So another recession could be on the cards if your country defaults

at the risk of being repetitious:

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

of course their still risk of default even if obama pay this. I don,t want to repeat myself but

As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease.

The government can roll over bonds as they come due, without increasing net debt.
No default, no failure to repay, no increase in debt.

 

[eflatminor]

America going to default


No, the Republican Party is going to default America.

.

The GOP is responsible for making the debt payments? I did not know what.

Please explain how we would default when we take in more than 10 times that which is necessary to make those payments. The floor is yours...

 

[decker]

at the risk of being repetitious:

Ok lets get over this lie about "default". There is plenty of govt revenue coming in every day to pay the interest on the debt. There is no chance of a default on the debt unless obama chooses to pay something else before the debt.

missing a food stamp payment or a gift payment to NPR is NOT a default.

STOP THE LIES ABOUT THE COUNTRY GOING INTO DEFAULT !

of course their still risk of default even if obama pay this. I don,t want to repeat myself but

As bbc news report warns today

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.

if the US government could not repay the money it owed bondholders, the value of the bonds would decrease.

The government can roll over bonds as they come due, without increasing net debt.
No default, no failure to repay, no increase in debt.

fair enough but even if obama does this as telegraph newspaper in uk points out here

Credit markets would freeze across the world as US treasuries are used as collateral in most transactions, and they would no longer be accepted. CDSs would begin to pay out with the same unknowable exposures. Inter-bank lending lines would close. Without even treasuries to store funds, investors would do the market equivalent of stuffing cash under the mattress. “It would be like Lehmans but without any government safety net,” says Mr Ward. Or in the more apocalyptic words of Mr Lewis: “The global financial system collapses. You get political and economic meltdown. It would be the end of the world as we know it.”