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Old 07-26-2011, 09:30 AM
 
6,342 posts, read 11,087,268 times
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If Congress and the President are unable to agree to a plan to raise the debt ceiling and or cut taxes or raise taxes or any combination thereof, and the August 2 deadline comes and goes can anyone give me some idea as to what businesses or government entities in the Pittsburgh area will be impacted?
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Old 07-26-2011, 09:51 AM
gg
 
Location: Pittsburgh
26,137 posts, read 25,973,648 times
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It won't happen. Worst case they will extend the thing for 6 months and do all this over again. I listened to the president and the speaker last night on Fox News (I kid you not) and Obama sure come out on top of that debate, unless you are a very rich person. I am sure there will be some compromise and I really wouldn't be surprised if it gets pushed back 6 months. That will be a joke, but it is what it is.
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Old 07-26-2011, 09:55 AM
 
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The US isn't going to default on anything, it's all childish political posturing by a pair of windbags both wanting the publicity.
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Old 07-26-2011, 09:57 AM
 
Location: Mexican War Streets
1,584 posts, read 2,095,022 times
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Quote:
Originally Posted by WILWRadio View Post
If Congress and the President are unable to agree to a plan to raise the debt ceiling and or cut taxes or raise taxes or any combination thereof, and the August 2 deadline comes and goes can anyone give me some idea as to what businesses or government entities in the Pittsburgh area will be impacted?
Every person or entity that borrows money for anything.

Anybody who does business with the government (at any level) or relies on the government (at any level) to pay them.
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Old 07-26-2011, 10:27 AM
 
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That speech last night sounded like Bush's ultimatum a few years back. Either give us the bailout money or we'll have a complete economic collapse and we'll declare martial law.
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Old 07-26-2011, 10:30 AM
 
Location: ɥbɹnqsʇʇıd
4,599 posts, read 6,718,517 times
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Nothing will happen. Just a whole lot of getting worked up for nothing to keep people's mind of the real problems the country is facing.
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Old 07-26-2011, 10:42 AM
 
6,342 posts, read 11,087,268 times
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Quote:
Originally Posted by Aqua Teen Carl View Post
Nothing will happen. Just a whole lot of getting worked up for nothing to keep people's mind of the real problems the country is facing.
I sure hope so. I've faced enough setbacks over the last three years here that have become major obstacles to moving out of my current area and into a better region like Pittsburgh. All I need is another problem to crop up to prevent me from leaving...
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Old 07-26-2011, 11:04 AM
 
5,802 posts, read 9,894,970 times
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I agree it does seem like nothing more than a Dog n Pony show, exasperated by the Cable News Channels to push the ideological agendas and place fear into their viewers.
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Old 07-26-2011, 12:45 PM
 
Location: SS Slopes
250 posts, read 359,742 times
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Nothing will happen. If the debt limit is not increased, Heli-Ben will just print more money without anyone's OK. The central planners like to act omnipotent, but they do not know where the breaking point is. No one does. It could be right around the corner, it could be a decade away. I'll bet money that it's not August 2nd though. Oh wait, I suppose I already am...
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Old 07-26-2011, 03:34 PM
 
Location: United States
12,390 posts, read 7,096,148 times
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Quote:
Originally Posted by WILWRadio View Post
That speech last night sounded like Bush's ultimatum a few years back. Either give us the bailout money or we'll have a complete economic collapse and we'll declare martial law.

Obama already made that exact threat when pushing for the stimulus bill, so I would say he sounded like himself last night.
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