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People holding gold certificates/coins were given ample opportunity to cash them in for new currency. Good, bad, or indifferent, it wasn't a default.
You don't know absolutely anything about finance if you don't consider that a default.
"In finance, default occurs when a debtor has not met his or her legal obligations according to the debt contract, e.g. has not made a scheduled payment, or has violated a loan covenant (condition) of the debt contract."
We did not meet our obligations under the debt contract. Our creditors may have been given the opportunity to make the exchange, but it is still a default. Sorry
You extreme righties always leave out the fact that most of that debt was tax cuts for the elite 1%...
Hmm lets see...
You are saying ONLY the ELITE 1% got tax cuts?
Actually, the tax reduction they received was LOWER than that everyone else received but here is a math lesson for those mathematically challenged.
Someone makes $ 30,000 and gets a 5% tax break.They only get $1500.00
Someone makes $300,000 and gets a 2% tax break. They receive a $3000.00 tax break, which while a lower percentage is more money, by 2x as much.
Someone makes $3,000,000 and gets 1% tax break. That's $ 30,000.00 which is WAY more money than the two other people got, but it's a LOWER Percentage tax break. Your "Tax cuts for the elite" is an out and out lie.
Here is a site that discusses it and give more precise numbers.
It is unclear as to whether Obama actually said, don't call my bluff. Could be simple a Cantor embellishment of course reported as "fact". I have not seen where anyone other than Cantor is saying he said it that way. Not that it matters, I kind of hope to find out he did say it that way, but Obama is much more of a Centrist than I.
Ah, another member of the ODL (0bama Defender League). Apparantly does not read papers, listen to the news or ever acknowledge that his leader has feet of clay.
What ever happened to the 0bama statement that all sides need to compromise to get a deal done? I guess his idea of compromise is to only agree with him and let him have his way.
This is your leader and you are welcome to him. He is soon to be gone.
Yet the $4 trillion in deficit reduction that Mr. Obama talks about is shy on details. No one who's attended his frequent negotiating sessions knows what his proposal really is.
The president has made a bipartisan agreement even more difficult by declaring certain spending off-limits to cuts. Mr. Obama's "untouchable" list includes his $1 trillion health-care reform, $128 billion in unspent stimulus funds, education and training outlays, his $53 billion high-speed rail proposal, spending on "green" jobs and student loans, and virtually any structural changes to entitlements except further squeezing payments to doctors, hospitals and health-care professionals.
Mr. Obama has offered no evidence since becoming president that he wants to restrain the upward trajectory of government spending. He does want higher taxes to pay for significantly higher federal spending. But he wants Republicans to deliver the tax increases, since Democrats couldn't pass them last year despite controlling both chambers of Congress.
"The president told me, 'Eric, don’t call my bluff. I’m going to take this to the American people,'" Cantor said.
Even if Obama said it in those words, it's more a figure of speech meaning "don't test my resolve, lest you wind up with egg on your face," rather than an admission that the person is truly bluffing in a deceptive or misleading way.
Do you want Cantor to see if Obama really has nothing but an empty hand?
Amazing how the ODL (0bama Defense League) always knows that what this great orator says is not what he means and they are able to parse it to their own liking.
You extreme righties always leave out the fact that most of that debt was tax cuts for the elite 1%...
"Most of the debt"??
We are $14.5 trillion in debt, and $6 trillion of this debt was accrued since 2007, when the dems took over control of both houses of congress, are you going to tell me that a 3% tax cut for the top 1% are responsible for over $3 trillion of that???
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math...
