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Treasury’s Lew to warn lawmakers: No payments guaranteed if debt ceiling breached
Washington Post ^ | October 9, 2013 | By Zachary A. Goldfarb and Lori Montgomery

Posted on 10/09/2013 10:25:01 PM PDT by Brad from Tennessee

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To: Brad from Tennessee

So Obama is going to order Lew to stop SS payments...


21 posted on 10/10/2013 12:47:13 AM PDT by RginTN
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To: Brad from Tennessee

22 posted on 10/10/2013 1:17:00 AM PDT by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: Brad from Tennessee

This hack is such a bad liar you can tell even he doesn’t believe his BS

Its vital that he be proven a liar by not increasing the debt limit


23 posted on 10/10/2013 1:35:14 AM PDT by Rome2000 (THE WASHINGTONIANS AND UNIVERSAL SUFFRAGE ARE THE ENEMY -ROTATE THE CAPITAL AMONGST THE STATES)
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To: Brad from Tennessee
Republicans ... were floating ideas ... for raising the debt limit — if only for a short time — in hopes of forcing President [Ø]bama to the negotiating table. . .

How the hell does that work? Defeatist thinking: Since not raising the DL does not bring Ø to negotiate, then raising the DL will bring Ø negotiate? Can't they get it thru their collective skulls that Ø wants the crisis of no DL increase?

24 posted on 10/10/2013 1:58:57 AM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: Brad from Tennessee

“But Lew will also note that in an unprecedented situation in which he would be relying entirely on the erratic flow of incoming revenue, the economy would suffer and there would not even be certainty that the government could make all interest payments. “

Baloney. The only reasons why there would be a default on interest payments is either incompetence, or a choice to default on the part of Mr. Lew, or more accurately His Petulance. There is more than sufficient revenue to make interest payments. It’s a matter of prioritization of payments.

This is all about avoiding the instant balanced budget that a failure to raise the debt ceiling would cause.


25 posted on 10/10/2013 2:11:58 AM PDT by RKBA Democrat (Power disintegrates when people withdraw their obedience and support)
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To: Defiant

“Obama will want to, but his people will tell him no.”

Exactly. His bankster cronies would never let him do it.


26 posted on 10/10/2013 2:13:54 AM PDT by RKBA Democrat (Power disintegrates when people withdraw their obedience and support)
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To: Brad from Tennessee; All

By the way folks, a really good indication of what is going to happen will play out in the markets. Have you seen the stock market crater? Has the price of gold shot through the roof of late? Has the dollar dramatically dropped in price?

No, no, and no. While the maladministration is trying to jawbone the apocalypse, the markets aren’t buying it. Nor should we.


27 posted on 10/10/2013 2:21:10 AM PDT by RKBA Democrat (Power disintegrates when people withdraw their obedience and support)
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To: RKBA Democrat

Lew is fear-mongering. He expects us to cave in the face of his blackmail attempt. Congress should demand his resignation.


28 posted on 10/10/2013 2:30:50 AM PDT by Rapscallion (Vlad the Impaler proposed no path to citizenship. Consider that.)
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To: RKBA Democrat

Or is it a case that the regime has cried wolf too many times?

I’ve heard both outcomes now. Catastrophe and Moody’s statement of confusion at the scare mongering, because there is plenty of income to service the debt.

The only thing I can really think is the United States financial books are truly ‘cooked.’ The President knows it, Reid knows it, and Boehner knows it. In my mind there can only be one of two things true.

Either Moody’s conclusion or the Regimes conclusion. One is real that other is a crime of massive proportions.


29 posted on 10/10/2013 2:56:32 AM PDT by EBH ( The Day of the Patriot has arrived.)
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To: Oldeconomybuyer
Make sure Mr. Lew is under oath when he tells this lie.

Why? Does that even matter anymore?

30 posted on 10/10/2013 3:29:11 AM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: mylife

Jack Lew is an anarchist extremist terrorist radical arsonist hostage-taker.


31 posted on 10/10/2013 3:41:23 AM PDT by Tailgunner Joe
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To: C210N

You are correct. It is just like a strike. You need leverage. The leverage is no hike of the limit. Give that up, then you give up your leverage.

The concern is not paying out some of the other goodies such as social security, covering costs of securing the country (e.g. the important parts of the military etc.) while paying the interest on the debt. That could be a serious political problem.


32 posted on 10/10/2013 4:31:42 AM PDT by hawkaw
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To: Brad from Tennessee

Then he will be in jail before it is all over.


33 posted on 10/10/2013 4:37:25 AM PDT by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
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To: Brad from Tennessee

Arrest Jack Lew


34 posted on 10/10/2013 4:37:57 AM PDT by Uncle Chip
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To: EternalVigilance
Impeach him immediately just for suggesting such a thing.

At a minimum he needs to be in front of the finance committee TODAY.

35 posted on 10/10/2013 4:40:14 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: Brad from Tennessee
A day after the treasury fails to pay the interest payments, large holders of US debt will start dumping US bonds, driving their value down & interest rates up sharply. The dollar will lose significant value. The DOW will go steeply south.

World chaos & outrage will ensue. A domino effect will occur in collapsing economies. It could easily lead to WWIII, with the USA as the primary bad guy.

Any past President would never let that happen, but Obama has a long record of doing that which harms this country the most, so I have little confidence that Obama would do the right thing, & a real concern that he will purposely destroy the US & world economy as a prelude to his dictatorship.

Though I think his chances of becoming dictator are slim & none, the damage he could do is immeasurable.

36 posted on 10/10/2013 4:49:15 AM PDT by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
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To: central_va

The finance committee is busily stuffing their pockets with gold even as the ship of state sinks. Don’t expect them to do anything until long after the damage is done.


37 posted on 10/10/2013 5:02:34 AM PDT by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
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To: Brad from Tennessee

Full of bull, much, Mr Lew?

Regardless of what happens on Oct 17 the USG will continue to collect over $2 Trillion in federal taxes to fund the govt and by federal statue, is required to pay the interest on its debt, which is about 10% of that tax being collected

the rest of that tax collected could fund the govt at its 2001 spending level, when few of us were freezing or starving or begging in the streets. About a 25% reduction in givt spending across the board. Tough for some but not life threatening unless Barack-cade Obama orders the govt to make it so.

There will be no “default” unless one is ordered by Barack-cade Obama, bower to Kings of Saudi and Presidents of China, who would jerk his chain hard if he tried


38 posted on 10/10/2013 5:09:41 AM PDT by silverleaf (Age takes a toll: Please have exact change)
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To: Brown Deer

oooh look, a slinky!


39 posted on 10/10/2013 5:10:40 AM PDT by silverleaf (Age takes a toll: Please have exact change)
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To: Brad from Tennessee

If he tries it, charges of sedition should be pressed followed by a trial that includes the death penalty.


40 posted on 10/10/2013 5:10:52 AM PDT by sergeantdave
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