Replies

I cannot help but notice that you throw in a lot of condescension towards others, yet seem unwilling to address any of the actual issues raised. How is rolling over the debt any different now, from last month, or last year, or the last decade? The principle you pay off is paid off. Yes, you have now borrowed more money, but you have cleared the same amount off of your existing debt.

The analogy to a credit card, you either purposely distorted, or did not understand. If you have a $1000 balance on your Visa, and no balance on your Mastercard, and are required to pay your Visa off (the equivalent of paying the principle), and you use your Mastercard to pay the Visa, then your total debt remains $1000. Your Visa has a balance of 0, and your Mastercard a balance of $1000.

Your response had nothing to do with the issues raised, and seemed more interested in casting aspersions on others. Assume I am not very bright, since that was one of the scenarios you raised. How is the debt ceiling breached if you are clearing old debt with the same amount of new debt?

I'm sorry if I seem condescending. I apologize. I'm frustrated by the poor anaologies and explanations I have been listening to for a week.

You must view this situation from the point of view of the creditor, not the borrower.

If you, Mr. USA, have promised to pay me 3% for two years on a T-bill and the two years is up and you owe me one final payment of $75 and my $1000 principle back and you tell me: SORRY - I won't pay you your principle because Ron Paul won't authorize more borrowing to cover it -- you have DEFAULTED.

As a borrower you are scum. You are Argentina. Or Zimbabwe.

In contrast if you go back to your large group of friends and say "I need $1000 to pay Jack Black the money I promised to return to him on Aug 15" and the lend it to you, and you pay me back -- we're cool.

I might think "gee, Jack seems over his head. I heard he had to borrow money from Ty to pay me back. I might not lend him more in the future... "

But I won't think: "That butt-tard Jack Black. He owes me $1000 and didn't pay me a penny back siting some BS about his wife not letting him borrow money from his friends anymore. Screw that asshat. I'm never lending him a dime as long as I live".

Get it?