The end result of raising the debt ceiling is that our debt goes up by the amount that the ceiling raises.
Moodys has said that in order to avert a downgrade, Washington must REDUCE debt by 4 trillion MINIMUM inside of 4-6 months... FOR STARTERS!
Once the nation’s credit score gets downgraded, interest rates go up for everybody, INCLUDING THE NATIONAL DEBT....
This eventually places us in a position of insolvency because interest on the debt could potentially exceed incoming revenues.
We don’t default until we are unable to pay the bills.
As long as we don’t lose our credit rating, we can pay the bills AND pay for most current budget items.
When the president says that he wants to avoid default, HE IS LYING!!!... This is what he has been after all along...
it is simply happening sooner than he wanted.
Obama was counting on this happening early in 2013 along with full implementation of Obamacare... NOT NOW.
Moodys threw a monkey wrench in Obama’s gears, and now he needs the republicans to bail him out.
We have a Bingo!
Speaker RR: "Harry, don't give me this 'table' bullsh*t. Vote on the damn bill or there will be hell to pay."
Dingy: "RR, this bill is a right-wing giveaway to the rich and yadda yadda, liberal talking point inserted here
Speaker RR: "You know damn well that if this fails in the Senate, it's your asses on the line. I'll be damned if we take the blame for this, we got you a bill. None of my freshmen, and not even many of my veteran Republicans have a damn thing to do with this 14T debt we have, that's on you old-line Democrats, and yeah, some Republicans too, but we voted yes on this bill...it's up to you now. Go ahead and vote it down, then you and your big-eared douchebag in chief can explain to the American People why everything turned to sh*t. Have a good night, and go f___ yourself. Now get the hell out of my office and vote on the bill."