I am all for smaller government, cutting spending, but my main concern is all this politicking being done which is putting a large stress on what assets I, as an individual, have.
You talk about fiscal conservatism, and I can guarantee you the average person here on THIS site is probably living in debt. I have more cash and cash assets than people who live a lifestyle fit for multimillionaires but in reality have debt up to their necks.
I can’t say what will happen to the economy should we default, but Im fairly certain it wont bode well for either the market of the dollar. In that case, I stand to lose alot, infact more than I would ever need to pay in repealing the tax cuts that we so wanted to keep and fought for. We want to solve this problem in only one way possible, basically have the cake and eat it too.
Personally, Ive already transfered most of my cash assets to a mixture of the pound, euro, yen and swiss franc. I am not interested in playing with this risky scenario and I won’t lie and say I know what would happen in case of default. Both sides are unwilling to budge, and saying “hold the line” is like playing a game of chicken, one which I personally dont wish to partake in. My family’s security means more than anything, and I dont take kindly when people (from both sides) are messing with that.
That's the thing, people can't take the hit and will certainly take out their frustrations on the political faction they blame. The Tea Party will get some and as a new faction will be less able to take the damage.