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To: agere_contra
Most of the people who hold US debt can’t vote in US elections. But those to whom unfunded liabilities are owed can and will vote.

First of all, future entitlement program payments are not liabilities for the reasons stated elsewhere on this thread.

Second of all, while it's true that entitlement beneficiaries have the right to vote and many of our creditors do not, our creditors have something much more important: capital and the ability to cut off our access to credit.

If our government actually defaulted on Treasury securities, its only actaul liabilities, its ability to borrow would be gone. Politicians value that waaaay too much in order to ever give it up through an actual default.

26 posted on 04/11/2011 9:48:42 AM PDT by curiosity
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To: curiosity

“... the ability to cut off our access to credit.”

GOOD. It is that access to credit that has allowed congress to over spend all these years.

“... its ability to borrow would be gone. Politicians value that waaaay too much in order to ever give it up through an actual default.”

So politicians can’t give up the money train of endless credit while they tax the productive class into oblivion? You don’t say. Too bad that is what Bennie and His Inkjets are busy doing just that. They ARE going to default, the NWO order demands that this nation be brought down, and to do it easily is by economic destruction.


30 posted on 04/11/2011 10:03:59 AM PDT by TruthConquers (.Delendae sunt publicae scholae)
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