Posted on 07/14/2011 7:24:51 AM PDT by radioone
On Tuesday, in the late morning, I asked a banker to explain what will happen if the debt ceiling is not raised on August 2. He was not just any banker; he was and is the authority on the U.S. bond market at one of the biggest banks in the world. He is in touch with the Treasury Department, and the Treasury Department is in touch with him. When I asked the bank if I could speak to someone about the debt ceiling, it wouldn't let me speak to anyone but him. He is a good source, and what he told me should have calmed me down about this whole government-created government crisis, because what he told me was that even if Congress doesn't raise the debt ceiling, the Treasury Department will not stop paying the interest on its debts.
(Excerpt) Read more at esquire.com ...
hunh, interesting analogy, Ben. Take the sh!t you bought back. That's what your daddy would have made you do. He wouldn't have made you borrow more, you crack-smoking, kool-aid-drinking shill.
Solution: Abolish the stupid debt limit rule and fight it out in Congress. Not in secret meeting behind closed doors.
bernanke’s solution: get a bigger credit card.
Government-created government crisis. Another to purge congress and senate lifers,vote or except it.
this is actually a really good article.
Note the (liberal) author’s conclusion: the only way we lose is if Boehner / McConnell betray us!!!!
If we hold the line, we will shrink government!!!!
excellent
Yup - they have to hold firm.
If we hold the line, we will shrink government!!!!
Therefore, the line will not be held. It is metaphysically certain that government will continue to grow.
No surprise there.
Never let a crisis go to waste?
The author is saying that the GOP has co-opted Rahm-bo’s strategy. I find that hard to believe. They aren’t that smart.
sigh
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.