GOOD NEWS? Drudge links report of GOP REVOLT!

[Soggy in NOLA]

of course it is. It leaves two possibilities, one of which is impossible:

1. We have "assurances" that a balanced budget amendment will be sent to the states. Exactly what assurances do you have in mind? It's impossible.

2. We default.

Since (1) is impossible, it's a vote for (2). But luckily for sane people, the Tea Party doesn't have a large enough caucus to prevent sane people from passing a sane debt limit increase.

You need to see the actual "possibilities."

1. We GET the "assurances" such as they are.

2. We don't get the assurances and we don't "default" anyway.

Default is NOT a necessary result from a refusal to pass a bill the President likes. The term "default" is NOT interchangeable with "no increase in the debt limit."

Oh, sure it is. The only question is: Will we default on our bond obligations, on our contracts with private sector firms, on our obligations to SS recipients, on obligations to our vets and/or on any other outstanding spending that Congress has approved.

If there is no increase in the debt limt, every single fucking obligation made by the U.S. Government can STILL be paid and damn well BETTER be paid.

no, that's just not true. I can't be held accountable for your ignorance.

That assumes every $ of spending is an obligation, which simply is not true. As well, we cannot be held accountable for your abject ignorance.

 

[8537]

How bad will it hurt when we hit the bottom of the cliff?

That depends on which seat you're in when we hit and whether or not you thought to bring a helmet.

 

[Soggy in NOLA]

Nope. It's not "sure" and that's not the "only" question. It's not even a real question.

Well, that's progress. At least you've quit claiming we won't default on our obligations.

The only REAL question is WHETHER the scumbag dishonest President would have the audacity to cause a default DESPITE the FACT that it is not necessary.

Please explain how, if the debt ceiling is not raised the government can fund all of its obligations.

You are accountable for your own ignorance and your boundless willingness to be deluded.

But you are accountable for drivel you typed, including the claims that we can somehow refrain from defaulting on our obligations without having the money to pay them.

What about the drek of claiming that going even further into debt will somehow solve the crisis? Is this what you would do if you found yourself on the skids? Go get 5 more credit cards?

 

[8537]

What about the drek of claiming that going even further into debt will somehow solve the crisis? Is this what you would do if you found yourself on the skids? Go get 5 more credit cards?

If I was in the midst of a personal recession and I could, for instance, get a loan for an education that would ensure me higher income in the future? Sure I'd take on more debt.

Every person who gets a student loan takes that gamble.

 

[Zona]

Drudge lost all credibility with me when they ran with the backwards B girl story. They are garbage. JMHO though.

 

[Provocateur]

Obama will have no bill to sign so he won't get blamed for this crash that is coming

There is no default coming (even if there's no agreement). There will be no "crash" coming unless, for traitorous partisan political reasons, the liberal Democrats cause one.

Default, maybe not, but downgrade is looming. Even if they pass some watered-down bill, the people eyeballing our debt are calling BS on the cuts. Like Reid's proposed 1 Trillion cut. Except that that "cut" is from money miraculously saved from not being in Afghanistan and Iraq in 10 years. Unfortunately, people aren't buying what the politicians are selling. We are still in hot water. This administration and liberals in Congress have decimated our country's economic strength.

 

[Liability]

Nope. It's not "sure" and that's not the "only" question. It's not even a real question.

Well, that's progress. At least you've quit claiming we won't default on our obligations.

What I've SAID, slow-wit, is that if we don't raise the deficit, there is no necessary default on our obligations. I was right about that and haven't altered it one bit. You have made no progress.

The only REAL question is WHETHER the scumbag dishonest President would have the audacity to cause a default DESPITE the FACT that it is not necessary.

Please explain how, if the debt ceiling is not raised the government can fund all of its obligations.

That has been explained patiently so many times, I've lost count. We take in enough money each month to pay the interest and the portion of the principle on all outstanding loan obligations. THEY get paid first. No default. That does leave money left over. Short of more borrowing, however, there is not enough money left over to pay for all the other stuff we spend so fully and recklessly on. Ego, once the loans and the interest are paid (as due) each month, the balance of the problem is allocating resources. This requires very difficult political decisions being made by Congress. Too bad.

You are accountable for your own ignorance and your boundless willingness to be deluded.

But you are accountable for drivel you typed, including the claims that we can somehow refrain from defaulting on our obligations without having the money to pay them.

But what I posted is true. It's not "drivel" just because you, in your woeful ignorance, don't care to see it or admit it.

 

[B. Kidd]

What about the drek of claiming that going even further into debt will somehow solve the crisis? Is this what you would do if you found yourself on the skids? Go get 5 more credit cards?

If I was in the midst of a personal recession and I could, for instance, get a loan for an education that would ensure me higher income in the future? Sure I'd take on more debt.

Every person who gets a student loan takes that gamble.

Many have and continue to gamble, only not to be able to find a job. Taxpayer funded student loans only continue to add to the debt. The 'house' owns them for many, many years.

 

[Provocateur]

Tough love, but you wouldn't understand that

riight. we had to destroy the country in order to save it from the scary black president. never mind that the cons cared not a whit about fiscal responsibility when bush was president, and will immediately stop caring about it when a republican gets back in the white house, but when there's a democrat in the white house, they're perfectly willing to destroy the country simply to undermine him. you can call that a lot of things, but "patriotism" ain't one of them. if you were sent by a foreign adversary to undermine america from within, i'm not sure what you cons would do differently.

You might actually have a point if the Tea Party didn't take off under Bush's passing of TARP. But carry on your partisan talking points. It's always good to know which people have an ounce of intellect on the board.

 

[Liability]

Drudge lost all credibility with me when they ran with the backwards B girl story. They are garbage. JMHO though.

I'm sure Drudge is upset that a person with less than zero credibility or intelligence somehow "finds" Drudge to be unworthy of credence...

 

[Provocateur]

Drudge lost all credibility with me when they ran with the backwards B girl story. They are garbage. JMHO though.

Thank you for your contribution and display of insight into the debt ceiling debate.

 

[8537]

Nope. It's not "sure" and that's not the "only" question. It's not even a real question.

Well, that's progress. At least you've quit claiming we won't default on our obligations.

What I've SAID, slow-wit, is that if we don't raise the deficit, there is no necessary default on our obligations. I was right about that and haven't altered it one bit. You have made no progress.

And it remains wrong. How would we go about paying all of our obligations if we only have revenues to pay for 60% our obligations? We will necessarily default on some obligations.

That's simple math, all of your name-calling and blustering aside. It's not even algebra.

That has been explained patiently so many times, I've lost count. We take in enough money each month to pay the interest and the portion of the principle on all outstanding loan obligations. THEY get paid first. No default. That does leave money left over. Short of more borrowing, however, there is not enough money left over to pay for all the other stuff we spend so fully and recklessly on. Ego, once the loans and the interest are paid (as due) each month, the balance of the problem is allocating resources. This requires very difficult political decisions being made by Congress. Too bad.

If we don't meet our obligations, we default. The only question is who we default on.

But what I posted is true. It's not "drivel" just because you, in your woeful ignorance, don't care to see it or admit it.

That's the hilarious part about you, Liability - no matter how completely, absolutely and totally wrong you are you will stick by your uneducated guns.

 

[Full-Auto]

Demanding that a Balanced Budget amendment has "assurances it will be sent to the states" is voting for default. I wish the Tea Partiers would just be honest.

Now thats comedy.


Imagine expecting democrats to eventually become fiscally responsible.

 

[Zona]

Drudge lost all credibility with me when they ran with the backwards B girl story. They are garbage. JMHO though.

I'm sure Drudge is upset that a person with less than zero credibility or intelligence somehow "finds" Drudge to be unworthy of credence...

Do you have any idea what I am talking about...the backwards B girl story? Do Ya? If you do, and yo ustill go to drudge, then you are an idiot..if you dont, educate yourself and stop being a hack...then stop going to drudge.

Idiot.

 

[Zona]

Drudge lost all credibility with me when they ran with the backwards B girl story. They are garbage. JMHO though.

Thank you for your contribution and display of insight into the debt ceiling debate.

You are welcome...oh and Drudge stinks.

 

[Liability]

Drudge lost all credibility with me when they ran with the backwards B girl story. They are garbage. JMHO though.

I'm sure Drudge is upset that a person with less than zero credibility or intelligence somehow "finds" Drudge to be unworthy of credence...

Do you have any idea what I am talking about...the backwards B girl story? Do Ya? If you do, and yo ustill go to drudge, then you are an idiot..if you dont, educate yourself and stop being a hack...then stop going to drudge.

Idiot.

Yeah yeah autoZONA, we all know about that stupid story. Nobody (except you, you whining ninny) gives a damn about it, either.

You dislike Drudge because of a perceived political bias.

Ho hum.

But the FACT is that, for the most part, Drudge merely links to the reports of OTHER news disseminators, you fucking cluck.

That doesn't change anything. You are still a whining ninny.

 

[Liability]

Well, that's progress. At least you've quit claiming we won't default on our obligations.

What I've SAID, slow-wit, is that if we don't raise the deficit, there is no necessary default on our obligations. I was right about that and haven't altered it one bit. You have made no progress.

And it remains wrong. How would we go about paying all of our obligations if we only have revenues to pay for 60% our obligations? We will necessarily default on some obligations.

That's simple math, all of your name-calling and blustering aside. It's not even algebra.

That has been explained patiently so many times, I've lost count. We take in enough money each month to pay the interest and the portion of the principle on all outstanding loan obligations. THEY get paid first. No default. That does leave money left over. Short of more borrowing, however, there is not enough money left over to pay for all the other stuff we spend so fully and recklessly on. Ego, once the loans and the interest are paid (as due) each month, the balance of the problem is allocating resources. This requires very difficult political decisions being made by Congress. Too bad.

If we don't meet our obligations, we default. The only question is who we default on.

But what I posted is true. It's not "drivel" just because you, in your woeful ignorance, don't care to see it or admit it.

That's the hilarious part about you, Liability - no matter how completely, absolutely and totally wrong you are you will stick by your uneducated guns.

Except that YOU are the one who is demonstrably wrong. It's been established here many times over. Yeah. I stick to my guns because I'm correct.

You stick to your guns despite how utterly wrong you are, because you are a biased, stubborn, largely ignorant, pontificating, gasbag blowhard.

It's not hilarious when you do that kind of crap so often. But it's all you.

 

[Toro]

Obama will have no bill to sign so he won't get blamed for this crash that is coming

There is no default coming (even if there's no agreement). There will be no "crash" coming unless, for traitorous partisan political reasons, the liberal Democrats cause one.

People don't know if a crash is coming. Probably not. But crashes occur because most people don't expect them. Nobody expected Lehman to nearly bring down the global economy.

The financial system is extremely complex and not particularly robust, so an innocuous chink in the weak link of the extraordinarily complex network of financial counterparties caused by a technical default could be enough.

And FTR, those on both sides of the aisle who are saying "Do not budge under any circumstance" are those who will be ultimately responsible if it does come crashing down, not those who are willing to deal.

 

[Soggy in NOLA]

Well, that's progress. At least you've quit claiming we won't default on our obligations.

What I've SAID, slow-wit, is that if we don't raise the deficit, there is no necessary default on our obligations. I was right about that and haven't altered it one bit. You have made no progress.

And it remains wrong. How would we go about paying all of our obligations if we only have revenues to pay for 60% our obligations? We will necessarily default on some obligations.

That's simple math, all of your name-calling and blustering aside. It's not even algebra.

That has been explained patiently so many times, I've lost count. We take in enough money each month to pay the interest and the portion of the principle on all outstanding loan obligations. THEY get paid first. No default. That does leave money left over. Short of more borrowing, however, there is not enough money left over to pay for all the other stuff we spend so fully and recklessly on. Ego, once the loans and the interest are paid (as due) each month, the balance of the problem is allocating resources. This requires very difficult political decisions being made by Congress. Too bad.

If we don't meet our obligations, we default. The only question is who we default on.

But what I posted is true. It's not "drivel" just because you, in your woeful ignorance, don't care to see it or admit it.

That's the hilarious part about you, Liability - no matter how completely, absolutely and totally wrong you are you will stick by your uneducated guns.

Why must you always resort to the "I'm smarter than you" routine? You're not. This statement alone shows you don't know what the fuck you are talking about:

If we don't meet our obligations, we default

It depends on the terms of the contract what constitutes "default"

The debt service payments will be paid. If we have to shut down the EPA for a week, we have not defaulted. Everything in the budget is not an obligation, stop already.

 

[Liability]

Obama will have no bill to sign so he won't get blamed for this crash that is coming

There is no default coming (even if there's no agreement). There will be no "crash" coming unless, for traitorous partisan political reasons, the liberal Democrats cause one.

People don't know if a crash is coming. Probably not. But crashes occur because most people don't expect them. Nobody expected Lehman to nearly bring down the global economy.

The financial system is extremely complex and not particularly robust, so an innocuous chink in the weak link of the extraordinarily complex network of financial counterparties caused by a technical default could be enough.

And FTR, those on both sides of the aisle who are saying "Do not budge under any circumstance" are those who will be ultimately responsible if it does come crashing down, not those who are willing to deal.

In many things in LIFE (perhaps most), that philosophy is fair, reasonable and valid.

In this matter, however, it is myopic and misguided. In short, it is wrong.

We are confronting a massive dire urgent problem that will not permit of much more delay in getting it fixed. Time has already JUST ABOUT run out.

We already know, for a fact, that the debt crisis is real. We KNOW (there is no mistake involved in any part of the analysis) that we are on the path for doom. The debt burden is UNSUSTAINABLE.

We KNOW it and yet STILL we dither.

It's unconscionable.

FAILURE to deal with it WILL result in our effective DOOM as a going concern.

I do not want to bend over and kiss our collective ass goodbye. The Republic is worth preserving.

The analogy is that we are driving in a car at literally break-neck speeds on a winding mountain road and heading straight toward the broken guard rail. If we don't SLOW the fuck down RIGHT now and if we don't NOW start to steer the car away from that point of impact, we will go sailing over the edge to certain death below. Under such circumstances, what the FUCK is there left to "talk" over?

The current driver, Barry, is going at 120 mph and steering toward the "guard rail." We say slow down and turn right. Barry wants to 'talk' about it. He is addicted to speed. We say, there's nothing to talk about, Barry! Slow down NOW and start to turn now because in another moment it will be too fucking late. Do we need a committee vote? Is the point negotiable? Is there some damn "compromise" that might levitate us away from the crushing effects of gravity and the impending impact? No. There isn't.

The ONLY sane choice is to stop what we are doing while we still can and to change course and slow down.

There is nothing to negotiate. Nothing to "discuss." No room for ANY compromise. If we hit that guard rail at 100 mph instead of 120 mph, we'll end up JUST AS DEAD.