Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

NO debt-limit increase. Default (if it comes to that) would be a GOOD thing.
SELF

Posted on 10/12/2013 6:39:14 PM PDT by GodAndCountryFirst

First of all, nobody believes the government does not have enough money to pay down its debt. We would just have to stop doing things like feeding lazy losers.

But what if we DID default? What if there was a cash-flow problem that caused FedZilla to miss a bond payment or two? Well, that would be a GOOD thing for us small-government conservatives. FedZilla loses its credit rating and cannot BORROW anymore. What could be better? We should all be WISHING for that!


TOPICS: Your Opinion/Questions
KEYWORDS: debtlimit; fedzilla; ozero
Navigation: use the links below to view more comments.
first previous 1-2021-38 last
To: GodAndCountryFirst
First of all, nobody believes the government does not have enough money to pay down its debt. We would just have to stop doing things like feeding lazy losers.

Agree. If we default, it will be because we chose to pay the takers instead of our debt holders.

21 posted on 10/12/2013 7:28:44 PM PDT by TwelveOfTwenty (See my home page for some of my answers to the left's talking points.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: driftdiver

The Chinese economy is no more a house of cards than we are.

Do you realize that our government borrowed $50k for every household in the U.S. this last year? Talk about a house of cards...


22 posted on 10/12/2013 7:30:25 PM PDT by babygene ( .)
[ Post Reply | Private Reply | To 17 | View Replies]

To: driftdiver
'The ChineseUS economy is a house of cards. Built on corruption, lies, and printed dollars....'

There. All better.

23 posted on 10/12/2013 7:33:30 PM PDT by Theoria
[ Post Reply | Private Reply | To 14 | View Replies]

To: babygene

Our economy is a huge house of cards.

The Chinese economy is built on our house of cards.


24 posted on 10/12/2013 7:34:07 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: driftdiver

Turn on AMC right now. Consider that the zombies are EBT cardholders. That is the “positive outcome” story.


25 posted on 10/12/2013 7:45:43 PM PDT by Vermont Lt ( 1-800-318-2596, Mr President.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: babygene

China is in worse shape than us. Who do you think makes all of the stuff we are not buying.

If the bond market collapses, several trillion of our bond dollars will be dumped on the market. Price goes down, effective rate goes up.

We pay the interest and”other” obligations, the spigot for a lot of other programs stop cold turkey. Look around, we don’t want to do that.

We need to turn this ship around. Running into the rocks is not a better option.


26 posted on 10/12/2013 7:50:08 PM PDT by Vermont Lt ( 1-800-318-2596, Mr President.)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Vermont Lt

“China is in worse shape than us. “

I don’t agree. China is use to having nothing and their people don’t share in their apparent growth anyway.

Here the people have been conditioned to depend on our system and it will be a bigger problem for us if it collapses.


27 posted on 10/12/2013 7:54:33 PM PDT by babygene ( .)
[ Post Reply | Private Reply | To 26 | View Replies]

To: babygene

No, they don’t. They are in the position of a) needing our into terser payments and b) needing us to be very healthy consumers of their stuff or they fold.


28 posted on 10/12/2013 7:58:44 PM PDT by LS ('Castles made of sand, fall in the sea . . . eventually.' Hendrix)
[ Post Reply | Private Reply | To 13 | View Replies]

To: babygene

I agree with your second point. I respectfully disagree with your first. In the countryside you are correct. But the cities have a growing middle class. Not OUR style of middle class, but one of their own.


29 posted on 10/12/2013 8:07:07 PM PDT by Vermont Lt ( 1-800-318-2596, Mr President.)
[ Post Reply | Private Reply | To 27 | View Replies]

To: GodAndCountryFirst

We do indeed take in enough to make debt payments.

But we’re not taking in enough to pay Social Security AND Medicare AND military pay AND farm subsidies AND disaster relief ... AND ... AND ...

It’s all the AND payments that cause the problems.

I don’t like federal borrowing even a little bit. I’ve got to balance my checkbook and the feds should too. And in my humble opinion there is no reason to run a deficit in peacetime. None.

But run them we no. Some drastic budgeting is needed but the Washington Incompetence Corps simply isn’t up to the job. We need to fire every damn one of those crooked jerks and get somebody in there who has a spine and knows which end of a pencil to use while drawing up a budget.


30 posted on 10/12/2013 8:11:13 PM PDT by DNME (Something wicked this way comes ...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GodAndCountryFirst

Not increasing the debt limit does not mean defaulting on US debt. We only default if Treasure chooses to default. This is because at this time incoming revenue is about 10 time the interest on the debt. Or so I am told.


31 posted on 10/12/2013 8:25:19 PM PDT by Revel
[ Post Reply | Private Reply | To 1 | View Replies]

To: GodAndCountryFirst

You clearly have no idea how complex global markets work.

Any default, any missed payment, is a disaster for this nation.

If I don’t see a deal by Tuesday, I am pulling the cash out of my bank and getting the gold out of my lockbox and heading for the hills. It will be that serious


32 posted on 10/12/2013 8:42:36 PM PDT by MadIsh32 (In order to be pro-market, sometimes you must be anti-big business)
[ Post Reply | Private Reply | To 1 | View Replies]

To: driftdiver

Might be a good time to demand China renegotiate the terms.


33 posted on 10/12/2013 8:51:49 PM PDT by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
[ Post Reply | Private Reply | To 14 | View Replies]

To: DNME
And in my humble opinion there is no reason to run a deficit in peacetime. None.

I doubt the military who serve in the middle east think we are living in "peacetime." And considering the budget to continue our war on terror, this country is not at peace.

34 posted on 10/12/2013 9:09:43 PM PDT by MSSC6644 (Defeat Satan: pray the Rosary.)
[ Post Reply | Private Reply | To 30 | View Replies]

To: GodAndCountryFirst
This whole thing about "default is nothing but a canard by the Left. Literally, its like a person who has a credit limit of $20,000 and he want to "raise his dept limit" to $21,000. He has an income that can make the payments and the interest, but he wants to spend more; that's what they want to do in DC! Raising the dept limit has nothing to do with going into default; unless Obama and the Democrats want to do so!
35 posted on 10/12/2013 10:23:00 PM PDT by celmak
[ Post Reply | Private Reply | To 1 | View Replies]

To: GodAndCountryFirst

Germany canceled it’s national debt and got away with it, why can’t we?


36 posted on 10/12/2013 10:35:16 PM PDT by dalereed
[ Post Reply | Private Reply | To 1 | View Replies]

To: wideawake

OUR bills? Or those illegally run up by FEDZILLA? “The country” is the collection of sovereign states. Fedzilla is the creation of 100+ years of communist influence. SHUT IT DOWN!


37 posted on 10/13/2013 9:17:59 AM PDT by GodAndCountryFirst
[ Post Reply | Private Reply | To 9 | View Replies]

To: GodAndCountryFirst

This is a republic. Our leaders are elected by us. Their decisions are our decisions. Be an adult and acknowledge reality.


38 posted on 10/13/2013 12:20:29 PM PDT by wideawake
[ Post Reply | Private Reply | To 37 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-38 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson