Posted on 05/10/2023 1:18:44 PM PDT by ChicagoConservative27
President Biden warned Wednesday that if the United States defaulted on its debt, it would spell trouble internationally, after his latest meeting with congressional leaders to raise the country’s borrowing limit hardly made a dent in the debate.
The president, during remarks in Valhalla, N.Y., said that world leaders are wondering about the looming risk of a default.
“They all are looking at me, ‘are you guys serious?’” Biden said, referencing world leaders. “Because, if we default on our debt, the whole world is in trouble.”
(Excerpt) Read more at thehill.com ...
yep
as i have been sayin’
do not be alarmed
they are still in the destruction phase of
build back better
Daddy : " Well honey, you already have a $5K limit"
Daughter : " I reached that on plane tickets, clothes, and hotel reservations."
Daddy : "Well sounds to me like you can't afford to go on spring break?"
Daughter : "But I need you to do this!, I don't have a job yet and I'm a student"
Daddy : "Yes you are honey and you just got the best economics lesson for free".
Daughter : "Well how am I going to eat?"
Daddy : "A loaf of bread and canned soup is manageable. " Daughter : "But what about my Starbucks and Bar Tabs?"
Daddy : "You can't afford those things honey, you're a student"
Shut it, Traitor.
We’re in trouble when that horde of illegals come pouring across our southern border Friday.
Sorry, it was $1.3 billion. But what’s a few billion between friends.
The whole world is in trouble because BIDEN is in Oval Office
No need for the US to default on debts stop your wasteful spending spree and sign the bill.
He reminds me of Cosby’s joke about named Jesus Christ by his dad.
Jesus Christ what the hell are you doing?.
“first of all, let me assert my firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and of vigor has met with that understanding and support of the people themselves which is essential to victory.”
FDR
“The terms of the bond included: ‘The principal and interest hereof are payable in United States gold coin of the present standard of value.’ This type of “gold clause” was common in both public and private contracts of the time, and was intended to guarantee that bond-holders would not be harmed by a devaluation of the currency.”
“when the US Treasury called the fourth bond on April 15, 1934, it defaulted on this term by refusing to redeem the bond in gold, and neither did it account for the devaluation of the dollar from $20.67 per troy ounce of gold (the 1918 standard of value) to $35 per ounce. The 21 million bond holders therefore lost 139 million troy ounces of gold, or approximately 41% of the bond’s principal”
https://en.wikipedia.org/wiki/Liberty_bond
THAT should fix everything
All this talk by Biden about defaults on US debt is not helping keep down interest rates.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.