Shut 'em Down!

To make it even more confusing the federal reserve holds bonds over about 10% of our debt so if we're actually going to default on someone I think it would most likely be ourselves...

But then what would happen next is anyone's guess...

I think the general consensus is in the best case scenario we get a credit downgrade and in the worst case scenario there is a market sell off and the markets crash and the whole world experiences the first ever global depression.

Which I think would be good....

except that the treasury is legally obligated to pay all it's debts, which means they can seek additional loans without congressional approval

Well no, we should stop accruing additional debt, especially at twice the rate of growth. That unfortunately, is Obama's pathetic legacy.

The overall issue is overspending or the unsustainable rate of it rather is left for another forum. The interest on the debt is quite manageable by itself. If an individual has continuously racked up monthly credit card debt, then looses their job and collects unemployment insurance in excess of that service, they get to make the call if they use that money to avoid default.

You guys only look at the argument from the myopic view of "unless you give Obama everything he wants he's not responsible for anything that happens".

I wake up today to see the House trying to sabotage a bipartisan Senate deal and take us into default, fortunately, no one is buying Boehner's ***.

but what they can do and what they actually would do is entirely up to them. Keep in mind that not all the money we pay out is debts, some of it is obligations... which I think is what politicians are worried they would cut first....


is this your first time being an adult when a democrat is president?

it's always like this lol

ftfy

haha, there will never be a bipartisan House deal, good try tho at the troll attempt.

There is never a bipartisan Senate deal either.

That is the problem with Washington, all partisan.

Except Reid and McConnell are working on a deal right now.

They already have a deal. Thats what the two press conferences this morning were about. The Jouse this morning is stalling to vote on it because they 1. are trying to draft a resolution so they can look like the heros. 2. Don't have the votes yet.


Cool ***that I learned today:

1.) Army Captain William D Swenson is a bad *** and there was no partisan disagreement about him receiving the Medal of Honor just 5 minutes ago.

2.) What the aftermath of a human being sucked into a jet turbine looks like. This one happened in El Paso. Seriously don't click this link if you are squimsh or at work .

I like Dennis Miller's rant on the national debt.

he said something to the effect of "who do we owe this money to, anyway???" then... "*** it, don't pay em'" "what are they going to do about it? what's the point in having the most over inflated military on the planet if you aren't going to use it once in a while??? tell them to come & try to collect"

this is all in jest, naturally, but still a funny point.

Yeah, I see Boehner is trying to draft up a counteroffer, but can't get the votes because the moderate Republicans have turned their backs on him. Its a circus in the House right now, very amusing.

Here is an article about said circus from last night at a DC watering hole.

http://blogs.rollcall.com/218/ted-cruz-house-republicans-meet-in-secret-at-tortilla-coast/

Apparently he and his entourage were spotted by House Whip McCarthy (R) CA. who became rather interested in what they were up to.

meeting secretly with sinister types much?

I dont know how reliable that report is but it is funny nonetheless. None of those guys will end up having any say in the final decision, so they can meet as much as they want. The Tea Party blew it, again.

House torpedoes bipartisan senate talks, pushes it's only republican only bill, can't get the votes. Boehner and the tea party are alone, the rest of the GOP have cut them off. Time for a vote of no confidence on the Speaker.

Well he doesn't count because he is still living in that fantasy land where Romney won the election.

but romney isnt bla-oh...my world is a lie :( Would've been funny if our nazisocialistcommie comrades in the science community found a way to make bizzaro Obama..so he could win the election again /tinfoilhat

“Extremist Republicans in the House are attempting to torpedo the Senate’s bipartisan progress,” - Harry Reid

lol you're like a Harry Reid talking doll. just pull the string.

ok. Whatever helps you understand the Senate is right and the House is worthless.

The House is the most accurate representation of the will of the American people at they are all up for election every two years and even on a Presidential year that saw the reelection of President Obama, the Republicans retained the House. The Senate is imposing their will over the will of the American people. This will all end up being a very short-lived small victory for the Democrats. The public got to see up close the cold and extreme measures the powers that be in the Democratic party are willing to take to get their way. The Democrats were willing to destroy the economy over getting their way on a mere one year delay on the individual mandate. It was a game of chicken, the Republicans blinking because it is clear Obama/Reid will go through with defaulting if given the opportunity. They saw the unnecessary closure of monuments. They saw the Democrats intentionally not paying the families of our fallen soldiers. They saw the Democrats not even bring up for a vote clean bills to open departments of the government with no strings attached. They overplayed their hand with unbelievable coldness and stubbornness and everyone saw it.

Should have taken the bail out on Obamacare the Republicans were handing Obama, it would have saved the American people for this incoming trainwreck and the Democratic party.

Everything you just typed is either a fantasy based on no evidence or just false, good try tho.

Had to go to Fox News to see if they're spinning it like Amanda there is. But they're reporting the same story everyone else is House GoP can't get enough republican votes and have decided to not vote.
House GoP Floats Funding bill due to lack of Republican votes


Even the most pandering conservative right news source is saying House GoP can't agree with each other. Which means if the House is reflective of the American people then the reflection is not as cut and dry as you say.

The interest rates on US treasury bonds are variable. As uncertainity increases those rates increase. The US may pay $20 billion a month in interest (an arbitrary number that varies) but that doesn't mean the US always pays this amount.

Bonds that are short term or ones where the expiration dates are nearing are increasing in basis points. If the US can't get their political ***together expect this increase to continue.

This means the US debt will increase and there is the potential it will icrease dramatically. If you want to look at a country that recently had this problem look at Spain.

Economists are calling this a "technical default" for a reason. Just paying one or two bills but ignoring the rest will hurt the perception and credibility of the US.

Yeah, I expect a downgrade tomorrow. Thanks Boehner.

Historically the senate tends to be more moderate while the house tends to be extreme. This is due to how both are elected, each state votes for two senators while each representative is elected within a specific voting district. Senators tend to represent statewide voters while Representatives select region voters. Also do the Representatives being (re)elected every two years they tend to campaign on whatever hot button issue is happening in that state.

The point being though?

Both houses are more divided than they have historically been, and gerrymandering has made the problem worse.


A downgrade, sure. I'm holding out hopes that the Senate gets a plan over that he has to accept. Frustrating that they stopped negotiating last night, I'd like to know what that's about.

They still got some digs in yesterday. They were implying that the senate was nuking the house bill before they even knew what was in it. Good for you fox news.