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re: POLL: Will the US default?
Posted on 10/16/13 at 8:37 am to deltaland
Posted on 10/16/13 at 8:37 am to deltaland
quote:
No because even if we hit our debt ceiling we won't default. We bring in enough tax revenue to meet our obligations...it would just force 25% spending cuts across the board.
Experts are estimating that with tax-revenue alone, we'd only have enough income to pay our obligations through sometime in November, at which point we'd default.
If you really think we won't default, ask yourself, why do we have to keep taking on more debt? We are a finite people taking on infinite debt.
That should scare the shite out of you.
1
Posted on 10/16/13 at 8:57 am to PrivatePublic
quote:
We are a finite people taking on infinite debt.
How are we as a population finite and how is the debt "infinite"?
To the OP: Of course we're not going to default. You know what makes it hard to get re-elected? Crashing the world economy because you want to win some stupid political fight. Yes Obama can't get re-elected, but if he allows a default the history books won't be kind. His ego couldn't take that.
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