Default is not the problem. It is the only solution.
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Default is not the problem. It is the only solution.
Posted by zeebo on 10/16 at 10:48 am
We can't handle credit, and we are living high on the hog, with two "free lunch," political parties. One won't reign in entitlements, and one won't reign in defense.

Future generations shouldn't pay for this. Since we won't live within our means, and keep adding to the debt of future generations, we can only blow up our credit and start living within our means.



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Posted by Powerman on 10/16 at 10:53 am to zeebo
The problem is you're also thinking short term

We need to gradually reduce our spending and be fiscally responsible over the long haul

We're not going to get there overnight and it doesn't make sense to try to get there overnight.



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Posted by Rohan2Reed on 10/16 at 10:55 am to zeebo
meanwhile China is licking their chops at the opportunity to reduce global dependency on, and trust in, the dollar and US Treasurys.


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Posted by NC_Tigah on 10/16 at 10:59 am to zeebo
quote:

Default is not the problem. It is the only solution.
Wow.

First, I doubt you mean "default"
Second, actually technical default would be economically catastrophic.
quote:

Future generations shouldn't pay for this.
Agree 100%



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Posted by a want on 10/16 at 11:09 am to NC_Tigah
quote:

First, I doubt you mean "default" Second, actually technical default would be economically catastrophic.

Non-technical default would almost certainly put us back into a recession. I don't know if that's 'catastrophic', but it's pretty damn bad (and idiotic).



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Posted by Bard on 10/16 at 11:10 am to Powerman
quote:

We're not going to get there overnight and it doesn't make sense to try to get there overnight.


With the current pervasiveness of the "it's government's job to solve this problem" mindset, how do you see anything other than growth in spending as we go forward? Has there been any real push by enough people in both parties to cut ACTUAL spending and not just cut the growth in spending?

I agree with the idea you are pushing, but not only is there nothing that has come along to show that there is political will to do it, but the political will seems to be to go in the opposite direction and thus your idea is unrealistic.



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Posted by zeebo on 10/16 at 11:10 am to NC_Tigah
Do you believe we will get our spending under control?
Is there any evidence to support this belief?

Isn't catastrophy more likely under our current path?



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Posted by jcole4lsu on 10/16 at 11:11 am to NC_Tigah
quote:

Wow

i know right



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Posted by a want on 10/16 at 11:12 am to Bard
quote:

With the current pervasiveness of the "it's government's job to solve this problem" mindset




Yes, and all democrats are welfare/foodstamp receiving parasites, and all republicans are tobacco chewing, racist rednecks.



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Posted by Blue Velvet on 10/16 at 11:13 am to Powerman
quote:

We need to gradually reduce our spending and be fiscally responsible over the long haul
Impossible



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Posted by themunch on 10/16 at 11:18 am to a want
Yes, and all the wealthy democrats are welfare/foodstamp receiving parasites, and all poor republicans are tobacco chewing, racist rednecks.


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Posted by NC_Tigah on 10/16 at 11:33 am to zeebo
quote:

Isn't catastrophy more likely under our current path?
As opposed to default?
No.



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Posted by Bard on 10/16 at 11:35 am to a want
quote:

Yes, and all democrats are welfare/foodstamp receiving parasites, and all republicans are tobacco chewing, racist rednecks.


I should have qualified that with "within DC". My mistake.



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Posted by Bard on 10/16 at 11:37 am to NC_Tigah
quote:

As opposed to default?
No.


I think what he means is that unless something is done we will eventually reach a point where we can't even pay the interest on the debt.


This post was edited on 10/16 at 12:40 pm

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Posted by Tigah in the ATL on 10/16 at 12:38 pm to zeebo
This would like cutting off your arms because you have cancer.


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Posted by oklahogjr on 10/16 at 1:16 pm to zeebo
quote:

Future generations shouldn't pay for this

then why the rush to make them pay now. As the generation who put all this welfare shite in place is getting ready to leave the workforce while the younger generations begin to take over the workforce and provide the highest share of taxes?



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Posted by mmcgrath on 10/16 at 1:20 pm to zeebo
quote:

Default is not the problem. It is the only solution.
I have to admit that I checked real quick to see if you posted in the "If Obama defaults its treason" thread.



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Posted by NC_Tigah on 10/16 at 1:23 pm to Bard
quote:

I think what he means is that unless something is done we will eventually reach a point where we can't even pay the interest on the debt.
Probably.

I'm just tired of the "default" bull shite.



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Posted by jcole4lsu on 10/16 at 1:23 pm to Tigah in the ATL
quote:

This would like cutting off your arms because you have cancer.

that DOES happen fwiw.



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Posted by SpidermanTUba on 10/16 at 1:56 pm to zeebo
quote:

Default is not the problem. It is the only solution


No thanks, I like my bank account.



This post was edited on 10/16 at 1:57 pm

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