Obama on Debt Limit... interdasting. | Page 2 | TigerDroppings.com
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BugAC
LSU Fan
Baton Rouge
Member since Oct 2007
20403 posts

re: Obama on Debt Limit... interdasting.

quote:

BobBoucher


Also, if the US was ever going to default, then the lenders would have start liquidating treasuries. None of that happened. There is forbes article about it i've linked several times. Seems you didn't read it.


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BobBoucher
LSU Fan
Overland Park, KS
Member since Jan 2008
4168 posts

re: Obama on Debt Limit... interdasting.
quote:

I thought i watched BBC America and H2.


My bad. I assumed. I too get news from various sources including BBC and Fox, among others.


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stat19
Alabama Fan
Member since Feb 2011
12995 posts

re: Obama on Debt Limit... interdasting.
quote:

He just wants the middle class taxed more to pay it down.


Bull Shit!

You think the bastards in Washington would raise taxes and decrease spending or raise taxes and increase spending?

I'll give you a hint - the only thing they're going to pay off is each other.


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BobBoucher
LSU Fan
Overland Park, KS
Member since Jan 2008
4168 posts

re: Obama on Debt Limit... interdasting.
quote:

You mean this S&P?


Yep. It was their analysis of the cost of the shutdown to date. I'm not sure how that correlates to the market. Obviously there is optimism from the pending Senate deal.


HonoraryCoonass
LSU Fan
Member since Jan 2005
6465 posts

re: Obama on Debt Limit... interdasting.
quote:

If this annual reduction continues at that pace, we should be actually paying down the debt by the time Obama leaves office. 


:ROFLMAO!:


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BugAC
LSU Fan
Baton Rouge
Member since Oct 2007
20403 posts

re: Obama on Debt Limit... interdasting.
quote:

Yep. It was their analysis of the cost of the shutdown to date. I'm not sure how that correlates to the market. Obviously there is optimism from the pending Senate deal.



Look at the market since the beginning of the "default crisis". The market only went up. Which means washington's make believe default line doesn't matter to the financial world. The government never stopped collecting taxes during this shutdown, ergo, it never can possibly default. The only thing default did, was forcefully stop the alcoholic from grabbing another fifth.


BobBoucher
LSU Fan
Overland Park, KS
Member since Jan 2008
4168 posts

re: Obama on Debt Limit... interdasting.
quote:

Look at the market since the beginning of the "default crisis". The market only went up. Which means washington's make believe default line doesn't matter to the financial world. The government never stopped collecting taxes during this shutdown, ergo, it never can possibly default. The only thing default did, was forcefully stop the alcoholic from grabbing another fifth.


No, they called congress' bluff expecting an 11th hour deal just as before.

As for your assertion that we can never possibly default, it's simple math. We spend more than we take in revenue, right? so we have to continually borrow to pay our obligations. If the limit isn't raised, we can't borrow more which means some things don't get paid.


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Hog on the Hill
Arkansas Fan
New York, NY
Member since Jun 2009
8017 posts

re: Obama on Debt Limit... interdasting.
quote:

Look at the market since the beginning of the "default crisis". The market only went up. Which means washington's make believe default line doesn't matter to the financial world. The government never stopped collecting taxes during this shutdown, ergo, it never can possibly default. The only thing default did, was forcefully stop the alcoholic from grabbing another fifth.

The current price of the stock market is not so important an economic indicator that you can ignore all the actual harm that has been done. The chief economist of Moody's, Mark Zandi, stated this morning that the shutdown and debt limit crisis has undeniably caused economic losses. He backed up the ~$20 billion figure that Bob Boucher cited.

It's not reflected in the stock indices, but you simply cannot deny that harm has been done. Having 800,000 federal employees sitting around doing nothing has done harm and there's no way around that. They were not productive, but they have to get paid. Small businesses can't get loans. National Parks were closed and communities near the parks lost tourism dollars.


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Hog on the Hill
Arkansas Fan
New York, NY
Member since Jun 2009
8017 posts

re: Obama on Debt Limit... interdasting.
quote:

Look at the market since the beginning of the "default crisis". The market only went up. Which means washington's make believe default line doesn't matter to the financial world. The government never stopped collecting taxes during this shutdown, ergo, it never can possibly default. The only thing default did, was forcefully stop the alcoholic from grabbing another fifth.
Wow, you don't understand this at all if you think the government can't default just because it collects taxes.

And I absolutely guarantee you that the financial world was concerned about the possibility of default. If we were to default, we would have another recession.
This post was edited on 10/16 at 5:14 pm


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