Posted on 01/19/2023 9:38:11 AM PST by ChicagoConservative27
Senate Minority Leader Mitch McConnell (R-Ky.) said Thursday he is confident that the U.S. will never default on its debt and that he is not concerned a financial crisis could be on the horizon.
McConnell told reporters in his home state that while the push to raise the debt ceiling is “always a rather contentious effort,” he believes lawmakers will succeed at doing so before the Treasury exhausts its “extraordinary measures” in June.
“No, I would not be concerned about a financial crisis,” McConnell told a gaggle of reporters following an event at the University of Louisville to discuss disaster relief funding.
“In the end, I think the important thing to remember is that America must never default on its debt. It never has, and it never will,” he said. “We’ll end up in some kind of negotiation with the administration over what the circumstances or conditions under which the debt ceiling be raised.”
(Excerpt) Read more at thehill.com ...
Maybe not in his lifetime.
Didn’t we default when we promised to repay our debts in gold and Roosevelt said “Nope! You only get paper dollars.”. If I tried to pay my car loan in Zimbucks because I decided not to use US dollars, the repo man would come for my car.
Have you paid attention to who is supporting the US by buying our bonds, and what the trends show?
Esp given that much of the world increasingly respects the USA, and what our policies are doing to their economies….eh?
Our most lucrative export? War.
Mitch is a great negotiator. His opening position is always I surrender
Officially denied. Now I’m worried.
China has defaulted on its debt. They owe over 1.5 trillion dollars to American bond holders (their heirs) that China hasn’t paid on since they became Communist.
They had better impeach Biteme to prevent default. What about a Section 8?
“McConnell: US ‘never will’ default on its debt”
Of course not - we’ll first SEIZE retirement savings by turning them into crappy-paying (and capped) annuities, and then likely still have to inflate the rest away.
If we learn anything from history it is that we seem to learn nothing from history.
+1
Great example—there are many other countries that have defaulted on their debt—Cuba, Argentina are just two examples.
One obvious way the US could default on the debt would be if there was a Civil War/secession scenario.
Calling that scenario impossible forever is absurd. There are a million different ways it could happen.
Pray tell, Who is buying our bonds? (and what ensures they'll continue?)
The “forever” stamp really creeped me out...that is just asking for history to stomp on the hubris.
We’re on the Titanic in steerage. We haven’t seen a deck chair all voyage.
Let’s just run up our debt into the quadrillions!
Remember, all but 10 Republican senators voted to reflect this man.
Biden said NO negotiation.
https://www.thebalancemoney.com/who-owns-the-u-s-national-debt-3306124
The USG owns its own debt!
Not to worry…all those retirement and pension accounts are invested
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