America going to default

[TakeAStepBack]

No that not what i mean. I am just saying that even if he does this it will still lead to damaged american ecnomey. Just read this

Once a government has defaulted...

WE'RE NOT GOING TO DEFAULT DUMBSHIT. Next.

Full Faith and Credit - DUMBSHIT.

.

 

[decker]

Why would the US run out of money? are we going to stop collecting taxes?

No that not what i mean. I am just saying that even if he does this it will still lead to damaged american ecnomey. Just read this

Once a government has defaulted and its bond rating is downgraded, that government is viewed as a riskier investment. That likely leads to that government having to pay more in interest rates on future borrowing because of the risk bondholders have to assume. For taxpayers, that means increases in property taxes, sales taxes or other rates used to secure the bond-funded project. If a government is not able to achieve an affordable interest rate on its borrowings after defaulting, taxpayers will experience major cutbacks in services and projects.


Read more: What Happens When a Government Defaults on Debt? | eHow

we understand the repercussions of a default. But its not going to happen unless obama makes it happen intentionally by not using current revenue to pay the interest on the debt.

Yes, default would be bad.

now take your valium with a glass of vodka and go back to sleep.

Mate its 6.00pm in london i don,t need to go to sleep. I think you should go back to sleep if you think just obama paying off the current revenue will avoid default alltogether. your not looking at bigger fall out as all articles i have used point out.

 

[eflatminor]

"pay the debt off"...what the fuck are you talking about? We don't have to pay off the debt to avoid default. We only have to continue to make the interest payments. Again, plenty of money for that.

the ignorance of liberals never ceases to amaze me.

I am not a liberal or a conservative. Just a brit from london worried america going send world ecnomey into the tank. mate almost all the media are saying a default be nightmare.

One last time, we have plenty of money to avoid a default. Stop being so damn obtuse.

even if obama pays this off it won,t stop one of the short-term effects is that the rating agencies will review and likely lower the rating.

Nothing is being "paid off". We'll simply continue to make our regular debt payments. Nothing will change in that regard. MORE than enough money comes in the ensure that.

They have scales used to determine the creditworthiness of bond issuers, and defaults can lead to an issuer's rating slipping below investment grade.

Defaults which will not happen. Next.

Governments unable to pay off their bonds suffer long-term effects, including not being able to access the capital markets to borrow again.

We'll make the payments. Next.

This may make it difficult to meet basic service needs of taxpayers, such as education.

Our federal government has no authority to fund education. Next.

 

[decker]

the ignorance of liberals never ceases to amaze me.

I am not a liberal or a conservative. Just a brit from london worried america going send world ecnomey into the tank. mate almost all the media are saying a default be nightmare. even if obama pays this off it won,t stop one of the short-term effects is that the rating agencies will review and likely lower the rating. They have scales used to determine the creditworthiness of bond issuers, and defaults can lead to an issuer's rating slipping below investment grade.

Governments unable to pay off their bonds suffer long-term effects, including not being able to access the capital markets to borrow again. This may make it difficult to meet basic service needs of taxpayers, such as education.

Geez, try to pay attention. There is 10 times the revenue coming in that is needed to pay the interest on the debt.

Yes i know that mate but it won,t stop any of this stuff happerning such as

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight. The collapse of the US dollar would cause absolutely havoc throughout the world. You think that the US dollar has experienced a large decline over the past couple of years? Watch what happens if the United States defaults.

 

[BreezeWood]

WE'RE NOT GOING TO DEFAULT DUMBSHIT. Next.

Full Faith and Credit - DUMBSHIT.

.

* Nero Claudius Caesar Augustus Germanicus - your harp needs tuning.

.

 

[eflatminor]

No that not what i mean. I am just saying that even if he does this it will still lead to damaged american ecnomey. Just read this

Once a government has defaulted...

WE'RE NOT GOING TO DEFAULT DUMBSHIT. Next.

Full Faith and Credit - DUMBSHIT.

.

Which in no way suggests we don't have plenty of money to avoid default. Again, your pet programs getting shorted is NOT default.

 

[TakeAStepBack]

We're going to need a bigger short bus.

 

[eflatminor]

No that not what i mean. I am just saying that even if he does this it will still lead to damaged american ecnomey. Just read this

Once a government has defaulted...

WE'RE NOT GOING TO DEFAULT DUMBSHIT. Next.

fuck you stupid fucking idiot . Jesus christ thank god not all americans think like you. Anyway if your so confident america not going to default good luck to you. But i doubt most of media or congress or american people are so confident.

Why don't you try logic and reason for a moment and tell us how it would be possible for the US to default when we have more than 10 times the revenue necessary to pay the debt.

The floor is yours dumbshit...

 

[decker]

the ignorance of liberals never ceases to amaze me.

I am not a liberal or a conservative. Just a brit from london worried america going send world ecnomey into the tank. mate almost all the media are saying a default be nightmare.

One last time, we have plenty of money to avoid a default. Stop being so damn obtuse.



Nothing is being "paid off". We'll simply continue to make our regular debt payments. Nothing will change in that regard. MORE than enough money comes in the ensure that.



Defaults which will not happen. Next.

Governments unable to pay off their bonds suffer long-term effects, including not being able to access the capital markets to borrow again.

We'll make the payments. Next.

This may make it difficult to meet basic service needs of taxpayers, such as education.

Our federal government has no authority to fund education. Next.

Mate don,t resort to personal abuse. it does your fellow countryman no favours. I am not being obtuse. As fellow poster rightly said But that's not even the point. The system is based on confidence AND psychology which would both be badly shaken by failing to raise the debt limit and pay our FULL agreed upon debts ON TIME.

Also i am not of confident that you will make the payment to acess the capital markets to borrow again. But hey you might be right but i doubt it

 

[Toddsterpatriot]

I am not a liberal or a conservative. Just a brit from london worried america going send world ecnomey into the tank. mate almost all the media are saying a default be nightmare. even if obama pays this off it won,t stop one of the short-term effects is that the rating agencies will review and likely lower the rating. They have scales used to determine the creditworthiness of bond issuers, and defaults can lead to an issuer's rating slipping below investment grade.

Governments unable to pay off their bonds suffer long-term effects, including not being able to access the capital markets to borrow again. This may make it difficult to meet basic service needs of taxpayers, such as education.

Geez, try to pay attention. There is 10 times the revenue coming in that is needed to pay the interest on the debt.

Yes i know that mate but it won,t stop any of this stuff happerning such as

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight. The collapse of the US dollar would cause absolutely havoc throughout the world. You think that the US dollar has experienced a large decline over the past couple of years? Watch what happens if the United States defaults.

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight.

Adding no new debt would increase confidence in our currency.

 

[eflatminor]

paying off the current revenue

What the fuck does THAT mean?!

 

[decker]

Geez, try to pay attention. There is 10 times the revenue coming in that is needed to pay the interest on the debt.

Yes i know that mate but it won,t stop any of this stuff happerning such as

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight. The collapse of the US dollar would cause absolutely havoc throughout the world. You think that the US dollar has experienced a large decline over the past couple of years? Watch what happens if the United States defaults.

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight.

Adding no new debt would increase confidence in our currency.

What the fuck is that kind of logic. Yes your have no new debt but nation's pristine credit rating would be trashed. This would result in much higher borrowing costs for the country -. So in fact your debt would go up. fucking madness if you see defaulting as a good thing

 

[eflatminor]

I am not a liberal or a conservative. Just a brit from london worried america going send world ecnomey into the tank. mate almost all the media are saying a default be nightmare.

One last time, we have plenty of money to avoid a default. Stop being so damn obtuse.



Nothing is being "paid off". We'll simply continue to make our regular debt payments. Nothing will change in that regard. MORE than enough money comes in the ensure that.



Defaults which will not happen. Next.



We'll make the payments. Next.

This may make it difficult to meet basic service needs of taxpayers, such as education.

Our federal government has no authority to fund education. Next.

Mate don,t resort to personal abuse. it does your fellow countryman no favours. I am not being obtuse. As fellow poster rightly said But that's not even the point. The system is based on confidence AND psychology which would both be badly shaken by failing to raise the debt limit and pay our FULL agreed upon debts ON TIME.

So now you agree there is plenty of money to avoid anything close to default, but you insist we must fund every damn pet program and project in government?

Uh, no. Sorry, no.

The time has long come to get rid of many of those programs and begin to live within our means, which in no way implies default.

 

[eflatminor]

We're going to need a bigger short bus.

This size of the Titanic apparently.

 

[eflatminor]

Geez, try to pay attention. There is 10 times the revenue coming in that is needed to pay the interest on the debt.

Yes i know that mate but it won,t stop any of this stuff happerning such as

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight. The collapse of the US dollar would cause absolutely havoc throughout the world. You think that the US dollar has experienced a large decline over the past couple of years? Watch what happens if the United States defaults.

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight.

Adding no new debt would increase confidence in our currency.

EXACTLY!

 

[Toddsterpatriot]

Yes i know that mate but it won,t stop any of this stuff happerning such as

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight. The collapse of the US dollar would cause absolutely havoc throughout the world. You think that the US dollar has experienced a large decline over the past couple of years? Watch what happens if the United States defaults.

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight.

Adding no new debt would increase confidence in our currency.

What the fuck is that kind of logic. Yes your have no new debt but nation's pristine credit rating would be trashed. This would result in much higher borrowing costs for the country -. So in fact your debt would go up. fucking madness if you see defaulting as a good thing

Does Greece improve confidence by spending more or spending less?

Why would borrowing costs rise if we balanced the budget?
Isn't it more likely costs would rise if we continued our unsustainable borrowing?

fucking madness if you see defaulting as a good thing

Who said that? Where? Twit.

 

[decker]

One last time, we have plenty of money to avoid a default. Stop being so damn obtuse.



Nothing is being "paid off". We'll simply continue to make our regular debt payments. Nothing will change in that regard. MORE than enough money comes in the ensure that.



Defaults which will not happen. Next.



We'll make the payments. Next.



Our federal government has no authority to fund education. Next.

Mate don,t resort to personal abuse. it does your fellow countryman no favours. I am not being obtuse. As fellow poster rightly said But that's not even the point. The system is based on confidence AND psychology which would both be badly shaken by failing to raise the debt limit and pay our FULL agreed upon debts ON TIME.

So now you agree there is plenty of money to avoid anything close to default, but you insist we must fund every damn pet program and project in government?

Uh, no. Sorry, no.

The time has long come to get rid of many of those programs and begin to live within our means, which in now way implies default.

So in your world all ecnomic respected journals like wall street journal are talking stupid that default will be not a bad thing. I don,t agree in funding every department. don,t be so fucking stupid putting words in my mouths . I said that like many conservative have that defaulting would be fucking nightmare and that will happen whatever the president does post thursday. wall street journal, cnn, csnbc, goldman sachs see it like that.

But hey you might be right in disney world and everything will pan out just ok. You follow that logic if you wamt

 

[LittleNipper]

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

The Democrats seem all too willing to raise the debt ceiling into infinity. Seems that they don't believe that raising the debt will do any harm whatsoever. So, I don't suppose that not paying the debt period, would be any more dire.

 

[decker]

Next up - the US dollar would absolutely collapse, as confidence in the country and its currency would evaporate overnight.

Adding no new debt would increase confidence in our currency.

What the fuck is that kind of logic. Yes your have no new debt but nation's pristine credit rating would be trashed. This would result in much higher borrowing costs for the country -. So in fact your debt would go up. fucking madness if you see defaulting as a good thing

Does Greece improve confidence by spending more or spending less?

Why would borrowing costs rise if we balanced the budget?
Isn't it more likely costs would rise if we continued our unsustainable borrowing?

fucking madness if you see defaulting as a good thing

Who said that? Where? Twit.

Well you saying that even if america defaults, obama can end it by paying it off. He can,t on his own as even if he does llar would lead to a sharp increase in the cost of nearly everything, as more US dollars would be needed to pay for imports. The collapse of the dollar would lead to a massive increase in inflation. Filling your car might cost $200 or more. Goods would soar in price.

Anyway i am not a fan of spending but cutting spending through defaults is not the way to go. a balaenced budget is. You need to cut things but not through shutting goverment down or defaulting. I say this for both dems and gop

 

[Toddsterpatriot]

Mate don,t resort to personal abuse. it does your fellow countryman no favours. I am not being obtuse. As fellow poster rightly said But that's not even the point. The system is based on confidence AND psychology which would both be badly shaken by failing to raise the debt limit and pay our FULL agreed upon debts ON TIME.

So now you agree there is plenty of money to avoid anything close to default, but you insist we must fund every damn pet program and project in government?

Uh, no. Sorry, no.

The time has long come to get rid of many of those programs and begin to live within our means, which in now way implies default.

So in your world all ecnomic respected journals like wall street journal are talking stupid that default will be not a bad thing. I don,t agree in funding every department. don,t be so fucking stupid putting words in my mouths . I said that like many conservative have that defaulting would be fucking nightmare and that will happen whatever the president does post thursday. wall street journal, cnn, csnbc, goldman sachs see it like that.

But hey you might be right in disney world and everything will pan out just ok. You follow that logic if you wamt

So in your world all ecnomic respected journals like wall street journal are talking stupid that default will be not a bad thing.

No, you're talking stupid when you say paying our interest and principal is a default.