Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-29-2011, 12:45 AM
 
Location: San Francisco, CA
15,088 posts, read 13,411,033 times
Reputation: 14266

Advertisements

It's amazing how many economically clueless right wingers there are who think that the entire debt ceiling concept is some sort of a consequence-free myth invented by Obama. You people probably also think that men never landed on the moon and that Elvis still lives.
Reply With Quote Quick reply to this message

 
Old 07-29-2011, 01:00 AM
 
23,838 posts, read 23,067,910 times
Reputation: 9408
Quote:
Originally Posted by pghquest View Post
Because they can issue new debt, to pay off old debt. Its what they've been doing for 100 years.
Exactly. All they're doing is rolling over the debt. When a portion comes due, they pay it, and then issue new debt to cover the tab.
Reply With Quote Quick reply to this message
 
Old 07-29-2011, 01:02 AM
 
23,838 posts, read 23,067,910 times
Reputation: 9408
Quote:
Originally Posted by ambient View Post
It's amazing how many economically clueless right wingers there are who think that the entire debt ceiling concept is some sort of a consequence-free myth invented by Obama. You people probably also think that men never landed on the moon and that Elvis still lives.
WTF are you talking about? I'm pretty sure that most American's......you know....the ones with bank accounts, budgets, and debt ceilings of their own....fully understand the consequences of defaulting on debt.

Why would you make such an asinine comment?
Reply With Quote Quick reply to this message
 
Old 07-29-2011, 01:16 AM
 
Location: San Francisco, CA
15,088 posts, read 13,411,033 times
Reputation: 14266
Quote:
Originally Posted by AeroGuyDC View Post
WTF are you talking about? I'm pretty sure that most American's......you know....the ones with bank accounts, budgets, and debt ceilings of their own....fully understand the consequences of defaulting on debt.

Why would you make such an asinine comment?
I'm pretty sure this one doesn't understand ...
Quote:
Originally Posted by lifelongMOgal View Post
When Geithener and Obama are screaming "default" on August 2nd? Is it all fearmongering and Progressive theater? Will the Treasury be forced to cancel the auction?
...or this one.
Quote:
Originally Posted by BentBow View Post
There is no debt or default deadline!

It is a political power play.
I've been reading a lot of drivel like this on here suggesting that the negative consequences of hitting the debt ceiling are a myth.

Last edited by ambient; 07-29-2011 at 01:29 AM..
Reply With Quote Quick reply to this message
 
Old 07-29-2011, 01:40 AM
 
Location: Sango, TN
24,869 posts, read 24,327,324 times
Reputation: 8672
Quote:
Originally Posted by lifelongMOgal View Post
When Geithener and Obama are screaming "default" on August 2nd? Is it all fearmongering and Progressive theater? Will the Treasury be forced to cancel the auction?
Easy.

China doesn't want to see their economy collapse, as does the rest of the world.

They'll keep right on buying treasury bonds after the 14th amendment is enacted.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top