To: 2ndDivisionVet
Yet above all, one particular position should disqualify Cruzor anyone else who holds itfrom the presidency: using the debt ceiling as a hostage device. Breaching the debt ceiling would be disastrous. Its hard to forecast exactly what would happen, but we can somewhat forecast day one after default. The government would have to prioritize its payments. Do you withhold food stamps from low-income Americans? Delay Social Security checks? Maybe we should stop payments on infrastructure projects. Those missed payments would harm millions of Americans and cause mass disruptions around the country as cash flow problems cause companies to become insolvent. Over the long term, it would permanently raise our borrowing costs, making our interest payments more expensive. In short, it would be self-inflicted economic Armageddon. Cruz considers his willingness to risk that catastrophe a selling point, touting his role in opposing the debt ceiling hikes on his website. I have been forced to do this since I I lost so much money
56 posted on
03/24/2015 11:40:31 PM PDT by
woofie
To: woofie
So if we cancelled food stamps and other welfare schemes we’d soon be out of debt? What are we waiting for?!
58 posted on
03/24/2015 11:42:56 PM PDT by
2ndDivisionVet
(The question isn't who is going to let me; it's who is going to stop me.)
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