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.
It's true, people: if our country were a business, it would've been forced into delcaration of bankruptcy a long time ago. Call me a "doomsayer," but I truly believe that financial default is coming--it's far from easy to estimate when, but shouldn't it be done right now, with the satisfaction of doing so on our own terms?
Or should we simply allow our debt-ceiling to accomodate an additional 1-2 trillion dollars that will further indebt our government (and, most importantly, the American people) to its favorite private lender(s)?
And think about it: default truly was, in retrosepct, a saving grace for Iceland--perhaps it would be for our country as well.
Do you want a billion chinese customer service reps calling you day and night asking where the payment is? Do you think they'd understand.... Call USPS
Do you want a billion chinese customer service reps calling you day and night asking where the payment is? Do you think they'd understand.... Call USPS
I don't know... if Chinese "reps" were calling me on a daily and nightly basis, I would probably remind them that prior to U.S. debt default, the Chinese government actually owed the U.S. nearly the exact same monetary figure as their government's U.S. debt holdings.
I think that China and the U.S. would have to call themselves even.
Quote:
Originally Posted by emcee squared
Hmm.... Let me think.
No.
We still have more revenue incoming than debt payments outgoing. The debt problem can be tackled if we tried.
So what is it that we need then? European-style austerity followed, perhaps, by entitlement reform?
I see no way to pay back these debts without screwing the tax-payers, who, in the mind of any reasonable person, should not be held responsible for their government's destructive financial behavior/relationships.
Quote:
Originally Posted by Dane_in_LA
Tired of being a superpower - a major power, even?
I'm tired of living in a superpower too, Dane. While I do want a powerful country, I don't want an empire with horrendously self-destructive military, economic, political and financial tendencies.
Too bad it wasnt as easy as some peoples debt where maybe its time to downsize the 5000Sqft house,Sell the Vette,the Bass boat,his and hers Harleys, the motor home,etc
Defaulting on a debt usually carries some very negative repercussions,i'd only consider it as an absolutely last resort and although many claim America is in Dire straits its nowhere near needing to default on its debt,there is much the country can do to contribute to paying down that debt.
Maybe then we can get back to electing people to office that really give a s*it .. I mean, we can only take so many more of these Dancing With The Stars popularity contests that we these days call Elections.
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.
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.
