[truthguy]

i’m far from an expert, but Rush, Mark Levin, Club for Growth, Heritage Foundation, Jim DeMint, and many others, say you are wrong.

You would be wise to not consider Rush an expert at anything other than his own self promotion. Likewise Levin is not an expert on economics and you can count in DeMint as well. It's unpredictable what a default would have done. But I'm betting it wouldn't be good. And I'm willing to bet Obama is totally willing to destroy the US economy if given a chance. And I can assure you that the Mainstream News Media would have blamed it on the Republicans not compromising. This would have led to a disaster in 2012. This is what they were hoping for. Again you must never have been in involved in negotiations when you don't hold the high cards. It's easy to say things like we should no nothing and let a default happen. But when things are on the line you must cut the best deal you can. I wouldn't take the gamble of a default.

[RedEyeJack]

“things are on the line you must cut the best deal you can.”

OK... please explain why it always seems to be the Republicans who take the best deal the Democrats are willing to offer and not the other way around... The American people are getting what they wanted and deserve.

For God and Country... Geronimo, Geronimo, Geronimo!

[lquist1]

“It’s unpredictable what a default would have done. But I’m betting it wouldn’t be good. And I’m willing to bet Obama is totally willing to destroy the US economy if given a chance. And I can assure you that the Mainstream News Media would have blamed it on the Republicans not compromising. This would have led to a disaster in 2012.”

This is the kind of attitude that assures that the spineless Repubs will NEVER tackle the tough issues and instead be content to let us go over a cliff. The GOP leadership acted completely out of fear and did NOTHING to counter the false narrative of a default-as is evidenced by people right here on FR buying into that notion. The math is pretty simple:

1. The govn’t takes in roughly $200 billion monthly in revenue.

2. The govn’t spends roughly $300 billion each month.

3. It costs the govn’t roughly $20 billion to pay the bondholders and service the debt each month.

Therefore, all that is needed is to take the first $20 billion in revenue and pay the bondholders, and you have no default, pure and simple. Take the remaining $180 billion and prioritize spending, obviously making some tough choices along the way.

This is what households have to do when they can no longer borrow any more money to support their spending levels. It’s called living within your means.

The GOP was holding all the cards AND 65-70% of the American people were against raising the debt ceiling until the media started screaming “Armageddon!” This is a situation the American people could have understood and gotten behind us on if we’d bothered to educate them. But instead, our gutless leaders decided to cut and run and take the “best deal we can get” and get out of town. Our leadership is a total disgrace.

As bad as this option was, it would have been far better to give Obama a clean debt ceiling increase then this pile of crap they call a compromise.